Galaxy Digital, led by Mike Novogratz, raises $113M for a crypto VC fund targeting $150M. The fund plans to invest $3-5M in 30 crypto startups like Monad and Ethena, reflecting increased institutional interest in digital assets. #CryptoNews
Galaxy Asset Management secures $113M for a new venture fund targeting 30 early-stage crypto startups. Led by Will Nuelle and Mike Giampapa, the fund focuses on digital asset innovation and aims to reach $150M by next year. #Update #Crypto
The UK’s FCA has fined CB Payments Limited, a division of @coinbase, £3.5M for servicing 13,416 high-risk clients without proper licensing. The company facilitated $226M in transactions, highlighting the need for strict compliance in the crypto market. #CryptoRegulation #Update
Financial analyst Peter Schiff warns of potential market crashes without a Federal Reserve rate cut. Gold, silver, $BTC, and $ETH face sell-offs. The FOMC meeting on July 30-31 is crucial, with only a 10.9% chance of a July rate cut, but 76.7% for September. #Update
RBI and SEBI are collaborating on a comprehensive crypto policy, with a discussion paper due by Q3 2024. This initiative follows India’s G20 presidency and aligns with IMF and FSB guidelines, indicating a potential shift from RBI’s restrictive stance on cryptocurrencies. #CryptoPolicy #Update
.@Coinbase fined $4.5M by UK’s FCA for serving 13,400 high-risk customers. The breach allowed $226M in transactions despite restrictions. Highlights the need for stringent compliance in the crypto sector. #CryptoRegulation
Hashdex has applied to the SEC for a spot crypto ETF focused on Bitcoin and Ethereum. If approved by March 2025, it will be the first of its kind in the U.S., offering low fees and diversification. #CryptoNews #ETF @Hashdex
Bitcoin Nashville kicks off today with key figures like Donald Trump and @CynthiaMLummis. Trump to deliver a “historic message,” while Lummis may push for Fed to hold Bitcoin. $BTC gains political traction. #Update #BitcoinNashville
India to release a crypto policy discussion paper by Sept 2024. @AjaySeth, Secretary of Economic Affairs, says it will clarify government stance and solicit stakeholder input. Key players: RBI, SEBI, IMF-FSB. #CryptoPolicy #Update
On July 24, 2024, US spot Bitcoin ETFs saw a $44.51M inflow. Leading the surge, BlackRock’s IBIT fund attracted $65.99M, while Grayscale’s GBTC fund faced a $26.22M outflow. This highlights a shift in investor preferences within the crypto market. #BitcoinETFs #CryptoNews
Japan’s SBI Holdings partners with US investment firm Franklin Templeton to launch a Bitcoin ETF-focused investment company. With SBI holding a 51% stake, this move aligns with Japan’s anticipated easing of Bitcoin ETF regulations. #BitcoinETFs #CryptoMarket #FinanceNews
Thailand to roll out $14B digital currency giveaway in Q4. Adults 16+ can sign up via “Tang Rath” app from Aug 1 to Sept 15. Aims to boost economy, tackle debt. Expected participation: 50M people. #Economy #CryptoUpdate
Swiss crypto bank @SygnumBank reports H1 2024 profits as trading volume doubles. Spot crypto trading up 100%, crypto derivatives surged 500%, and lending volumes rose 360%. $BTC ETFs launched, $ETH ETFs anticipated. #Crypto #Update
Coinbase liquidated a Chinese investor’s Bitcoin due to inactivity, transferring funds to Wyoming’s Unclaimed Property Division. This highlights the risks and importance of managing digital assets. “Not your keys, not your coin,” noted one commenter. Potential asset recovery is possible by proving identity. #Update
