Tag: Bitcoin

Blockchain Startup Partior Secures Deutsche Bank as Strategic Investor

Summary: To support expansion in real-life cross-border payment solutions, Deutsche Bank joins digital world, It joins fintech firm Partior’s $80 million Series B round. This partnership is done with the aim of boosting Partior’s fiat offertings and strengthening its global an worldwide presence.

Deutsche Bank Joins as Strategic Investor

Deutsche aims to involve itself in digital space and has become a strategic investor in Singapore-based blockchain startup Partior, adding and helping to a insane amount of $80 million Series funding round. This doesn’t block itself from other prominent investors like Peak XV Partners, J.P. Morgan and Standard Chartered. The investment is still being kept in dark meaning the amount remains undisclosed, Deutsche Bank plans to act as a Euro and U.S. dollar settlement bank on platform.

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Expanding Fiat and Payment Solutions

Partior aims to expand its global operations and develop new services, such as intraday FX swaps and multi-bank payments, with the backing of its investors. Deutsche Bank’s involvement positions it to harness blockchain technology for faster, more transparent, and secure payments.

Pioneering Blockchain-Powered Payments

Founded in 2021, Partior is transforming cross-border payments with real-time clearing and settlement solutions. Currently supporting USD, EUR, and SGD, the platform plans to add JPY, GBP, and AUD in the future, enhancing its ability to address inefficiencies in traditional payment systems.

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Bitcoin OGs Stay Cool While Newbies Cash Out $2B in One Day

Summary: 

Gen Z, you already know Bitcoin’s been flexing hard, almost hitting $100K. But while the FOMO squad is scrambling, the OGs are chilling. Here’s the tea: long-term Bitcoin holders (aka diamond hands) just locked in over $2 billion in profits in a single day. But not all hodlers are rushing to cash out. Let’s break it down.

Recent data from Glassnode indicates that most Bitcoin selling activity is being driven by newer holders, specifically those who have held their coins for 6-12 months. These so-called “semi-diamond hands” accounted for 35.3% of recent sell-offs. Meanwhile, long-term Bitcoin investors, often called “OGs,” are maintaining their positions, likely waiting for higher prices before considering any moves.

Some analysts suggest that institutional investors, who entered the market following the launch of Bitcoin exchange-traded funds (ETFs), are among those cashing out. These players may be locking in profits after riding the initial hype wave surrounding ETFs.

The ETFs themselves are showing signs of strain, with over $550 million in net outflows recorded over the past two trading days. This coincided with Bitcoin’s price retreating from near $99,000 to around $90,800. Adding to the market’s turbulence, MicroStrategy, a corporate giant with significant Bitcoin holdings, saw its stock price plummet by 35% after reaching a peak on November 21. Despite the setback, the company remains steadfast in its bullish stance, continuing to increase its Bitcoin reserves.

As the market navigates this phase, a clear divide is emerging between speculators locking in profits and seasoned holders exercising patience. Whether Bitcoin can break past the $100,000 mark remains uncertain, but all eyes are on its next move.

MicroStrategy Acquires 55,500 BTC for $5.4 Billion

Summary: MicroStrategy just bought an outrageous amount of Bitcoin and has positioned itself as the top of the top corporate Bitcoin holder with a historic and monumental purchase of 55,500 BTC for $5.4 billion. This purchase made possible by a mix of debt offerings and equity sales, making this purchase the company’s largest and greatest Bitcoin investment yet.

Record-Breaking Bitcoin Purchase

MicroStrategy bought an astonishing amount of 55,500 BC at an average price of $97,862 per coin in a span of just a week starting from November 18 and November 24. This is by far the largest acquisition of the company making its total holdings to 386,700 BTC. That amount of BTC is valued at over $37 billion.

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Funding Through Capital Initiatives

This purchase was only made possible by significant capital raising efforts as already briefly explained in the summary section above. The efforts include a $3 billion debt offerings and $2.46 billion from equity sales. However this wasn’t done without any plan as MicroStrategy has outlined a $42 billion capital plan over three years to support further Bitcoin acquisitions.

Strategic Performance Metrics

MicroStrategy uses a proprietary “Bitcoin Yield” indicator to measure performance. As of November 24, its year-to-date Bitcoin Yield stands at 59.3%, showcasing strong growth while managing share dilution.

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Rumble to Invest $20M in Bitcoin for Strategic Expansion

Summary: After the recent valuation boom for Bitcoin several companies, industries and platforms have started investing in Bitcoin or use it as a financial reserve. Following this trend a Video-sharing platform widely known as Rumble has announced plans to allocate up to $20 million in Bitcoin as a part of its strategy to make its corporate treasury diverse and open a broader opportunity in crypto.

Rumble Embraces Bitcoin for Growth

The news of Rumble allocating up to $20 million of its reserves to bitcoin was revealed or said out in a blog post on Nov. 25. Chris Pavlovski, CEO of Rumble used Bitcoin’s current boom, it’s resistance nature against inflation including its independence from monetary polices as key reasons while going through with this decision. Rumble plans to position itself on a greater place in crypto space through these type of strategic investment.

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Flexible Investment Strategy

This strategic approach by Rumble is very flexible and came at the company’s discretion. The timing of this allocations strategy seems unclear as BTC has slowly started to slow down compared to past week but the company emphasized its ability to pause or modify the strategy as market condition evolve.

Part of a Broader Trend

Rumble isn’t the only company or enterprise to join allocate BTC in its business or make BTC as their financial reserves but Rumbles joins companies like MicroStrategy, Genius Group and Anixa Biosciences that are adding and integrating Bitcoin into their financial strategies. This recent trend shows the growing interest of institutions which reflects Bitcoin’s potential as a long-term asset and inflation hedge.

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Ex-Girlfriend Tosses $716M Bitcoin Fortune into Landfill

Summary: A hard drive containing 8,000 Bitcoins was accidentally thrown away by James Howells, a Welsh IT specialist, in 2013 after his ex-girlfriend Halfina Eddy-Evans. Bitcoin was worth £500,000 at the time, but it is now worth $716 million.

A Costly Mistake

The mix-up happened during a home cleanup when Howells accidentally told Eddy-Evans to toss a bag containing the hard drive. The bag ended up buried in the Newport Council landfill, a sprawling 110-acre site with over 1.4 million tons of waste.

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Hope and the Legal Battle

To get the council to investigate the landfill, Howells has been begging for years. He has even offered to pay £10 million to utilize robotic diggers and artificial intelligence. Despite pledges to contribute a portion of the Bitcoin that was recovered, the council turned down his pleas, citing legal and environmental issues.

By suing the council for $495 million in October 2024, Howells intensified the situation. Online discussions concerning the possibility of recovering the lost riches have been sparked by the anticipated court decision on December 3, 2024.

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WBTC Flash Crashes on Binance Below $6K After Coinbase Delisting

Summary: Just days after Coinbase stated that it was delisting Wrapped Bitcoin (WBTC) owing to liquidity issues, the price of WBTC fell to $5,209 on Binance before rising to $98,000.

Sparks of Uncertainty in a Flash Crash

BitGo’s WBTC saw a precipitous 95% drop on Binance on November 23; in less than an hour, it went from $98,500 to $5,209. The cause is currently unknown, and neither BitGo nor the WBTC team have provided an explanation. This comes after Coinbase said that it would delist WBTC on December 19 due to liquidity issues.

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Growing Competition in Wrapped Bitcoin

Coinbase’s entry into the market with its competitor token, Coinbase Wrapped Bitcoin (cbBTC), intensifies the competition for WBTC. Kraken has also launched its version, kBTC.

The delisting comes amid strained relations between Coinbase and Justin Sun, involved with WBTC via a BitGo joint venture. Sun has criticized Coinbase for failing to provide proof-of-reserves for cbBTC.

WBTC’s Role in DeFi

WBTC, which was introduced in 2019, tokenizes Bitcoin in order to facilitate liquidity in systems that use decentralized finance (DeFi). Its market capitalization is close to $14 billion, and it is correlated 1:1 with Bitcoin.

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Blockchain Association Pushes Trump to Prioritize Crypto

Summary: Crypto community has a lot of hope from president-elect Donald Trump, and they want trump to take 5 out of several key steps in his first 100 days to position U.S. as a leader in the sector of blockchain and many completely believe he’ll go forth with it too as he started his campaign with a promise to make U.S. a pro-crypto nation.

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Five Crypto Priorities for Trump

1. Create a Regulatory Framework
The association calls for clear crypto legislation to balance consumer protection and innovation, with a focus on stablecoins, which offer price stability by being pegged to assets like the U.S. dollar.

2. End Banking Bans for Crypto Firms
Crypto businesses struggle without banking access, affecting payroll and vendor payments. Lifting restrictions would stabilize their operations.

3. Reform the SEC and Repeal SAB 121
The group seeks new SEC leadership to replace what it terms a “hostile” stance and recommends repealing SAB 121, an accounting rule limiting crypto activities.

4. Appoint Pro-Crypto Treasury and IRS Leadership
New leadership could address restrictive tax policies like the Broker Rule, fostering privacy and innovation while discouraging firms from relocating offshore.

5. Establish a Crypto Advisory Council
A public-private council would promote collaboration between regulators, Congress, and the industry to create balanced rules supporting growth and consumer protection.

Senator Lummis Proposes Bitcoin Reserves Backed by Gold

Summary: Senator Cynthia Lummis suggests a digital and decentralized way to make their national finances strong, He suggests converting U.S. gold reserves into Bitcoin. Though this seems to be a great leap for crypto community and it’s development, critics question the feasibility of the program in the midst of U.S’s growing debt crisis.

Bitcoin Strategic Reserve Plan

Lummis says that currently Bitcoin is way more valuable than gold as gold has recently been undervalued. He aims to do this without creating new dollars. He also points out that the BTC can be stored in Bitcoin Strategic Reserve Fund in decentralized places to make sure it’s properly and very tightly secure to reduce centralized risk like gold. He suggests a program to buy 200,00 BTC annually to ensure the reserve reached 1 million BTC in five years, which he expects would lead the states to participate through segregated accounts if the BTC is held for 20 years.

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Criticism and Concerns

No matter how blissful the program by senator may sound but experts in field of economics, Avik Roy argue that this plan won’t be able to address the annual $2 trillion deficits and explains how fiscal reform is vey much necessary. He also expresses how the volatility of Bitcoin and the crypto space as a whole causes potential misuse.

Trump’s Crypto Push

Trump has always advocated for a pro-crypto administration which includes a crypto advisory board to guide policy. Since this is a really huge deal for every digital and decentralized firm, Major crypto firms like Ripple and a16z are dying for a role.

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NFTs Hit $158M in Weekly Sales, Powered by Ethereum and Bitcoin

NFT sales just hit $158M this week, led primarily by Ethereum ($49M) and Bitcoin ($43M), despite a 12.7% drop from last week. Solana saw a huge spike in buyers aswell, with 185K+ active users. The NFT market’s still strong, closing November with solid momentum after a record-breaking October.

NFTs are still holding strong despite a slight dip this week, with $158 million in sales over the last seven days, according to CryptoSlam. While that’s a 12.7% decrease from last week’s $181 million, the numbers are still looking solid, especially when compared to earlier in November when sales were only around $93 million.

Ethereum continues to dominate the NFT scene with $49 million in sales, though that’s down 25.9% from the week before. Bitcoin NFTs are also holding their own, recording $43 million in sales, though that’s a 29% drop.

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But here’s where things get interesting: Solana, which has been flying under the radar, just smashed it in terms of buyers. With over 185K Solana users actively picking up NFTs this week, which is a 58% jump from last week, its giving off positive vibes all over! In comparison, Ethereum, while leading in sales volume, saw a slight dip in buyer activity.

Other networks like Polygon, Mythos Chain, Immutable, and BNB Chain combined for $35.8 million in NFT sales this week. And although the average transaction value dropped a little, from $133 to $126, it’s clear that interest in NFTs is holding steady.

Looking at the bigger picture, the NFT space is showing some serious resilience. October saw a huge spike in sales, ending a seven-month slump, and now November is keeping the momentum going. Despite the fluctuations, the rise in Solana’s buyers and Ethereum’s continued dominance show that the digital collectible market is alive and kicking.

Despite a minor decline this week, NFTs are still doing well; according to CryptoSlam, sales over the past seven days have totaled $158 million. Even while it is a 12.7% drop from previous week’s $181 million, the figures appear to be stable, particularly when contrasted with sales of only about $93 million earlier in November.

With $49 million in sales, Ethereum is still the market leader in NFT, despite a 25.9% decrease from the previous week. Despite a 29% decline, Bitcoin NFTs are still doing well, with $43 million in sales.

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AI Firm Genius Group Adds $14M to Bitcoin Treasury, Shares Jump 8.5%

Summary: Genius Group is a Singapore-based artificial intelligence focused company or firm which has just now invested an additional $14M on its Bitcoin holding which just seems to be every company’s plan right now as BTC just hit it’s ATH of $97,000. The company raised its total treasury to 153 BTC and the announcement made on Nov.21 help increase the company’s share by 8.5%.

Accelerated Bitcoin Strategy

Genius Group recently adopted a crypto-based policy named ” Bitcoin-first” strategy and this latest purchase followed said policy. This policy includes committing 90% or more of its reserves to Bitcoin which shows their trust on Bitcoin as a currency and asset. Key developments on said case include:

  • A $10M Bitcoin purchase on Nov.18
  • Additional investment of $14M on announced on Nov. 21.
  • Formation of a crypto-focused treasury to have $120M in Bitcoin holdings.

Strategic Shift Towards Bitcoin

Roger Hamilton who’s the big man, The CEO said that this move reflects a growing rapid trend amongst public companies of rethinking and revising their financial and economical strategies and increasing Bitcoin allocations.

After this much of commitment and investment on Bitcoin, Genius Group becomes yet another company that has managed to position itself as a leader among AI firms using Bitcoin for treasury management which goes hand to hadn with bigger and greater industry trends.

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