C100 Crypto — Weekly Digest
Last week was filled with many positive events for all crypto market participants. As a result, Bitcoin surged to an almost all-time high reaching $61,500.
The US Securities and Exchange Commission is likely to approve the first Bitcoin futures ETF. A record of an upcoming Bitcoin ProShares ETF appeared in the Bloomberg Terminal (ref — Bloomberg Intelligence). The trading is anticipated to start next week.
The United States has become a leader in mining capacity, according to the Cambridge Centre for Alternative Finance. Massive growth is associated with the total ban on cryptocurrency-related activities by Chinese authorities, which made many large mining companies move out of mainland China.
SEBA, a major Swiss cryptocurrency bank, announced the launch of DeFi-based financial products. Unlike the Coinbase case, where a similar initiative by a major cryptocurrency exchange led to a legal action from the SEC, the European financial authorities have taken a more loyal and pragmatic approach, allowing an innovative financial product to be launched.
CFTC has settled the litigation with Tether and Bitfinex in a pre-trial agreement involving the dismissal of all possible claims and a $41.5m fine.
MSCI, a major provider of global and regional exchange index solutions, released a study estimating that corporate clients around the world have invested at least $7 trillion in the crypto economy.
This estimate includes a broad interpretation of the crypto economy, not just direct assets purchase, but a wider set of activities including mining equipment manufacturing, trading, media presence, etc.
This week’s crypto investment news was highlighted by the announcement that TradingView had raised $298M from a global investor pool. Its total valuation now is over $3 billion.
