Custody tech provider METACO and forex trading platform Cobalt have teamed up in a bid to rewire the financial system to handle cryptocurrency.
Publicly-traded MicroStrategy announced Tuesday that it had purchased an additional 295 bitcoin for $10 million in cash.
The post MicroStrategy purchases more bitcoin worth $10 million appeared first on The Block.
Analysts cautioned that a stronger dollar could play spoilsport to any new push higher.
Crypto exchange Gemini has launched a new interest-earning program called Earn, which offers up to 7.4% yield.
The post Gemini launches ‘Earn’ — an interest-earning program that offers up to 7.4% yield appeared first on The Block.
The product is part of Gemini’s attempt to bring in new crypto investors with bank-like products.
The NYSE-listed lottery firm may also acquire another 10,000 miners this year.
Quick Take
- Fei Protocol acts as an algorithmic pseudo-central bank that issues the FEI stablecoin
- Crypto-asset collaterals that back the stablecoin are controlled by the protocol and are deployed to Uniswap as liquidity
- The algorithm penalizes selling and incentivizes buying activities on Uniswap when FEI is trading below the $1 peg
If convicted, the two men face a maximum of 10 years in prison, caning and fines.
Quick Take
- Andersson Horowitz (a16z), the renowned venture capital firm out of Silicon Valley, has been an early investor in digital assets, investing in the sector as far back as 2013
- In April 2020, A16Z raised $515 million for a second crypto-specific fund, totaling $865M under management across the two funds
- In total, the firm’s active portfolio consists of at least 32 startups and protocols across eleven verticals, which The Block has mapped out. This is the second iteration of a16z’ portfolio map and an update to our previous coverage.
Revealing the news exclusively to The Block on Tuesday, OKEx said the move is aimed at enabling cheaper and faster transactions for users.
The post Crypto exchange OKEx to add support for Bitcoin’s Lightning Network appeared first on The Block.
