As the crypto ecosystem continues to mature and go mainstream, a new study of Millennials has shown a change in investor sentiment and their spending habits. Surveying 1,000 American crypto investors, GamblersPick found that the average Millennial today holds a little more than $1,800 in crypto. The survey reveals that 25% of the respondents bought crypto, using credit cards instead of fiat currency, and have borrowed nearly $500 from banks and families to make up their existing portfolio. When asked about their source for future crypto investments, 21% of surveyors revealed their plan to take on consumer debt, while more …

Regulatory concerns surrounding Binance US have reportedly culminated in investors backing out of a $100-million funding round. The failed funding round also prompted Binance US CEO Brian Brooks’ surprise decision to step down after serving as its executive for just three months. Brooks, the former Acting Comptroller of the Currency and former chief legal officer to rival exchange Coinbase, cited “strategic differences” after stepping down. The funding round had been intended as the first step in Binance US’ path toward an initial public offering (IPO). According to The New York Times, Brooks had initially courted potential investors, including Ray Lane …

Financial news site Bloomberg and Galaxy Digital Management have expanded their crypto offering to track the performance of the decentralized finance (DeFi) space. In a Thursday announcement, Bloomberg said it would launch an index currently tracking nine different decentralized finance projects with Galaxy Digital. As of Aug. 1, these projects included Uniswap (UNI), Aave (AAVE), Maker (MKR), Compound (COMP), Yearn.Finance (YFI), Synthetic (SNX), SushiSwap (SUSHI), 0x (ZXR) and Uma (UMA). "Decentralized finance is growing as the next major investment theme within crypto," said Alan Campbell, Bloomberg's multi-asset index business' head of product management. "As liquidity and institutional custody solutions continue …

Bitcoin (BTC) prices briefly fell below $44,000 on Thursday as the United States Dollar strengthened after the U.S. Federal Reserve policy minutes revealed its intentions to limit its bond-purchasing program this year. Bitcoin risks $45,000 becoming new resistance The spot BTC/USD rate dropped 1.71% to a new week-to-date low of $43,955. The pair’s plunge appeared as a part of a technical correction that started after it had reached a three-month high of $48,176 on Saturday, following a 64.42% price rally. Bitcoin’s latest price decline also surfaced in line with a similar market bias on Wall Street. For instance, the benchmark …

Nonfungible tokens (NFT) have arguably transitioned from being an obscure part of the crypto and blockchain space to occupy greater significance within popular culture. Indeed, as cryptocurrencies and decentralization appear to permeate the conversation across social, political and economic lines, the apparent hype surrounding NFTs seems to be incentivizing greater adoption of digital currencies. Within the NFT space itself, gaming has often been cited as a possible use case for the commercialization of digital collectibles. Now, within the ambit of play-to-earn NFTs, there appears to be a growing coincidence of gaming, blockchain and the virtual economy. Inside this confluence point, …

Fidelity’s plan to corner the cryptocurrency market appears to be more ambitious than previously imagined, as the asset manager looks to provide more institutional pathways to digital assets. In a recent interview with the Boston Globe, Christine Sandler, head of sales and marketing for Fidelity Digital Assets, said that institutional interest in crypto is growing. For most investors, the primary entry into crypto has been Bitcoin (BTC) and, to a lesser extent, Ether (ETH). Tom Jessop, who heads Fidelity Digital Assets, said the pandemic was a major motivator for investors to finally get into crypto: “What really got people off …

Columbia Investment Management Company president and CEO Kim Lew thinks that cryptocurrencies are here to stay. “I think it will have profound effects,” she said in a recent interview, adding, “There are many different avenues that it can go.” Lew explained that people could build many new things within the crypto ecosystem, such as stablecoins and nonfungible tokens. “I think clearly it’s going to play some role. Not clear what role it would play,” she added. Lew said that it’s important for Columbia Investment Management Company, the firm responsible for managing Columbia University’s $11-billion endowment, to dabble in crypto assets …

Vienna-based cryptocurrency broker Bitpanda has closed its third major private financing round led by Peter Thiel’s Valar Ventures. Raising $263 million and drawing in new investments from British billionaire hedge fund manager Alan Howard and REDO Ventures, the company is now valued at $4.1 billion. That’s three times its last valuation of $1.2 billion for its $170-million raise in March of this year. Bitpanda has now raised close to $500 million through various private financing rounds, counting three-time backer Valar Ventures alongside repeat investors that include LeadBlock Partners and Jump Capital. Since 2014, the company’s offerings have centered on cryptocurrency …

Following the successful expansion of its cryptocurrency service within its homeland of Switzerland, fintech firm Leonteq has now launched a collaborative effort with ICF Bank — one of Germany’s leading securities trading banks — to bring crypto to institutional investors throughout Germany and Austria. Well regarded for their accolades in the Swiss markets, including being the “world’s first short tracker certificate on Bitcoin in 2017, as well as the world’s first reverse convertible on Bitcoin in 2019,” the firm is now set to make further strides in the emerging space. Following the evolution of a multi-year relationship, Leonteq and ICF …

Mike Novogratz’s investment management firm Galaxy Digital has reportedly participated in a $50 million funding round for Figment, a crypto staking startup. According to Bloomberg on Monday, Galaxy Digital joined investors like Anchorage and Bonfire Ventures in a Series B funding round led by Senator Investment Group and Liberty City Ventures. The company is now reportedly worth about $500 million following the fresh injection of investment capital. Commenting on the funding round, Lorien Gabel, CEO of Figment, said that the funding marks a “new chapter” for the firm. The announcement also included a quote from Novogratz describing the yield generating …

Delaware-based Kryptoin Investment Advisors has joined a score of other crypto ETF hopefuls by filing for an Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The crypto investment firm previously tried and failed to get a Bitcoin ETF greenlit back in 2019. The firm came back with another attempt this April, filing for a Bitcoin ETF that was set for a verdict by July 27 but is still under review by the SEC. According to a Thursday filing, the Kryptoin Ethereum ETF Trust plans to issue its common shares on the Chicago Board Options Exchange’s …

Global banking giants are reportedly increasing their involvement in the emerging crypto and blockchain firms by way of early- and late-stage funding for projects and businesses in the industry. According to research by Blockdata, a blockchain market intelligence outfit, 55 out of the top 100 banks by assets under management (AUM) have some form of exposure to the novel technology. This involvement reportedly cuts across direct and indirect investments in crypto and decentralized ledger technology firms by the banks themselves or via their subsidiaries. Blockdata’s research places Barclays, Citigroup and Goldman Sachs among the most active backers of crypto and …