Crypto News

Japanese investment giant SoftBank is dipping its toes back into crypto by backing a new bitcoin (BTC) investment vehicle, Twenty One Capital, in conjunction with Tether, Bitfinex, and Cantor Fitzgerald.For some, the SoftBank Group—which has $308.7 billion assets under management—taking an interest in bitcoin is a welcome development and another sign of mounting institutional crypto adoption. After all, SoftBank functions more or less like a Japanese sovereign wealth fund, according to Jeff Park, head of alpha strategies at Bitwise.But for seasoned observers, it could be more of a déjà-vu than a breakthrough.Flashback to 2019, SoftBank made headlines when its founder, Masayoshi Son, took a gigantic loss on a personal bitcoin investment.Son had taken exposure to cryptocurrency in late 2017, when...

The prospect was raised during a meeting between the U.S. Securities and Exchange Commission’s Crypto Task Force and El Salvador regulators.Source link

The cryptocurrency was trading sideways as of Thursday morning, while gold continues its ascent as murmurs of $4,000 per ounce begin to get louder. Store of Value Showdown: BTC Maintains $93K as Gold Rallies Bitcoin has remained flat over the past 24 hours, bobbing up and down just above $93K. Meanwhile, gold, which surged toSource link

Michael Saylor's bitcoin buying strategy had both believers and skeptics. But a new rival just emerged, already holding nearly $4 billion BTC on its balance sheet—and it's a bullish sign, according to at least one Wall Street analyst. When SoftBank, Tether, and Cantor Fitzgerald unveiled plans to launch a new bitcoin investment company called Twenty One, structured explicitly around holding bitcoin as its primary business, many called it a significant rival to Saylor's Strategy (MSTR). Its day-one bitcoin balance sheet holding would rank it as the third-largest publicly held bitcoin treasury on day one.In traditional finance, one could argue that such a big competition could hamper a dominant company's market share and capital raise opportunities, especially since Twenty One...

Crypto exchange Coinbase (COIN) said it will introduce free conversions between PayPal’s dollar-pegged stablecoin, PYUSD, and the U.S. currency in a move aimed at accelerating the shift toward on-chain payments.The move, open to both retail and institutional customers, is part of a partnership aimed at promoting PYUSD as a payment currency. Coinbase also plans to use its platform to offer PYUSD to PayPal’s extensive network of merchant partners, which could ease the use of stablecoins in everyday transactions.Stablecoin rivalry heats upStablecoins — digital tokens pegged to traditional currencies, predominantly the dollar — are one of the fastest-growing sectors in crypto. They are marketed as a faster and cheaper alternative to legacy payment systems, and are increasingly popular for payments across...