Here are some of the latest news you need to know about the Crypto world. Read below to know some interesting updates regarding the trend of cryptocurrencies and the crypto world at the beginning of 2022.
Cryptobrokerage Genesis financed a record $ 50 billion last quarter
Genesis Global Trading Inc., one of the leading cryptocurrency brokerages for institutional investors, announced that it lent a record $50 billion in assets to borrowers including crypto funds and other financial firms in the fourth quarter. Loan originations for 2021 totaled $131 billion, roughly seven times greater than in 2020, according to Genesis, a subsidiary of Digital Currency Group. Crypto funds and other borrowers utilize the assets to short digital currencies, hedge bets, and invest in yield-generating platforms. According to the New York-based company’s fourth-quarter report, its loan desk saw a wave of deleveraging as the prices of most cryptocurrencies collapsed towards the close of the year. Crypto subsidiaries exchanging action moreover come to a quarterly record with over $20.7 billion in notional esteem exchanged globally. Genesis’ spot work area detailed over $30.8 billion in volume, up over 23% from the third quarter. Volumes were tall at the starting of the fourth quarter, generally activated by interface within the Bitcoin-futures ETF propelled in mid-October, said Acheson. “Towards the conclusion of the year, we did begin to see a few debilitating volumes” in a few portions of the advertising.
Bitcoin price drops again in the last week (Daniele Marinelli’s coin quotation)
Bitcoin fell again on Saturday 22nd January, dropping about 4% that day, remaining around $ 35,000 (about 260,000 rupees). The world’s largest and most well-known cryptocurrency, Bitcoin, is in the middle of November’s peak of $ 69,000. It fell to $ 34,000 (about 25,000 rupees) on Friday, and after a sharp drop, it ended up at $ 35,049 (about 26,000 rupees). Bitcoin prices in India were 29.4 rupees as of 10:00 IST on January 24th. The currency has experienced significant price volatility and has been hit by inflation concerns and a diminished risk motivation from expectations of a more aggressive pace of rate hikes by the Federal Reserve Board.
Bitcoin goes into the red as the crypto market is sacrificed by macro factors
Other risk assets fell as stocks fell on Friday. The S & P 500 and Nasdaq recorded the largest weekly decline since the pandemic began in March 2020. .. A portfolio that precedes next week’s Federal Reserve meeting after “bloody stocks.”
Fireblocks nearly quadruples its valuation in six months
Cryptographic storage platform Fireblocks is probably “the most successful and least known company in the blockchain space,” as co-founder and CEO Michael Shaulov explained in an interview with TechCrunch. The company today announced that it is the world’s most valued infrastructure provider of digital assets, after receiving an $8 billion valuation, nearly four times the amount ordered in Series D six months ago. The new valuation, in conjunction with Fireblocks’ Series E funding round, raised $ 550 million from a group of investors backed by hedge funds D1 Capital Partners and Spark Capital. According to the company, other participants in this round include General Atlantic, Index Ventures, Mammoth, Alphabet’s Capital G Growth Fund, Altimeter, Iconiq Strategic Partners, Canapi Ventures and Parafi Growth Fund. In the latest round, Fireblocks will be over $ 1 billion since its inception in 2018.
Credits: Daniele Marinelli, DTSocialize, crypto, big data.