Quote of the week: “Crypto is going through what most innovations go through…” -El-Erian, Chief Economic Adviser at Allianz and President of Queens’ College at Cambridge. Source: https://finance.yahoo.
Continuing to Buy the Dip: Despite market turbulence, many firms and investors are continuing to buy the cryptocurrency dip. This week, Microstrategy purchased another 480 Bitcoins for approximately $10 million. Source: https://www.fxempire.
Goldman Sachs Downgrades Coinbase Stock to ‘Sell’: Plunging cryptocurrency prices have affected Coinbase’s underlying business; and, as a result, analysts at Goldman Sachs have downgraded its stock. Source: https://
Europe’s First Bitcoin ETF is Launching: London-based investment company, Jacobi Asset Management announced on June 30 that it will be launching Europe’s first Bitcoin ETF on the Euronet exchange. The Bitcoin ETF will start trading in early July and will include a 1.5% annual management fee. Source: https://finance.yahoo.
Voyager Digital Issues Notice of Default: Voyager Digital issued a notice of default to hedge fund Three Arrows Capital for its failure to pay its loan. Voyager issued a market update that noted that the company is exploring “legal remedies” that are available to pursue the recovery of its funds from Three Arrows Capital. The company assured its users that the platform is continuing to operate and fulfill orders. Source: https://cointelegraph.
Opensea Reports Major Data Breach: Opensea reported this week that email addresses have been leaked to a third party by a staff member of CRM software Customer.io. Opensea stated, “If you have shared your email with OpenSea in the past, you should assume you were impacted.” Source: https://finance.yahoo.