After five weeks of constant outflows, institutional investment is finally trickling back into crypto funds with BTC the asset of choice and ETH falling out of favor. In its weekly Digital Asset Fund Flows report published on Jan. 24, crypto investment firm CoinShares observed inflows for some institutional products. It is the first time in five weeks that there has been a net positive inflow as $14.4 million re-entered the space with investors buying the dip. The researchers reported that these inflows came during a period of significant price weakness, adding that this suggests investors “are seeing this as a …

Congresspeople currently HODLing or actively trading in crypto may have to stop doing so while in office if recent pushes to ban lawmakers from investing in stocks gain enough support. In a Monday letter addressed to Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, 27 members of the U.S. House of Representatives called for action “to prohibit members of Congress from owning or trading stocks.” Among the bipartisan group of lawmakers who signed onto the letter was Illinois congressperson Bill Foster, who is also a member of the Congressional Blockchain Caucus. In addition, the letter seems to have support from …

A bug in the front end of popular nonfungible token (NFT) marketplace OpenSea has reportedly led to an exploit allowing users to buy popular NFTs at their previous listing price. The bug seems to be prevalent with Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collectibles, where the exploiter managed to buy them at their old listing price and then sold them for the current market price. The affected NFTs include BAYC #9991, BAYC #8924, MAYC #4986. A user named jpegdegenlove is suspected of exploiting the current bug and has reportedly profited 332 Ether (ETH) ($754,000). …

Bitcoin (BTC) is a New York state of mind thing for Eric Adams, the crypto advocate serving as the 110th Mayor of New York City. He received his first Bitcoin payout on Friday during some epic downward price action, and was unflappable when asked about losses during an interview. The Bitcoin price has taken a nosedive from Friday highs of $41,000 to $35,000, meaning Adams has effectively taken a 15% haircut on his first wages. In light of the plummeting price action, a CNN interviewer asked on Jan. 23, “How much money did you lose, and do you have any …

Brenda Gentry, a former USAA mortgage underwriter from Texas, believes that the cryptocurrency ecosystem offers a fighting chance to overcome the generational curse of poverty. Gentry, a.k.a. MsCryptoMom, left her decade-long job as a banker to pursue a full-time crypto career as her initial investments from early 2020 confirmed the “unprecedented opportunities offered by crypto.” She currently runs Gentry Media Productions, a firm that advises decentralized finance (DeFi) and nonfungible token (NFT) projects — generating up to 20 ether (ETH) each month, nearly $50,000 at the time of writing. Speaking to Cointelegraph, Gentry recollected the moment she first bought crypto: …

Business intelligence firm MicroStrategy reportedly acted contrary to the Securities and Exchange Commission’s accounting practices for its crypto purchases. According to a Bloomberg report, a comment letter from the SEC released Thursday showed the regulatory body objected to MicroStrategy reporting information related to its Bitcoin (BTC) purchases based on non-GAAP, or Generally Accepted Accounting Principles. The business intelligence firm has been reporting it used these methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets” — essentially, negating some of the effects of the volatility …

Many crypto enthusiasts turned to social media on Friday to voice their frustrations with the state of the crypto market. One Reddit user named imyourkingg allegedly invested 30% of his net worth into Bitcoin (BTC) a few months ago, saying: "I don't need this money for the next 5 to 10 years, but I have to admit sometimes I get so afraid of Bitcoin's future; I mean it crashes or never reach $100k, $200k as the predictions for 2025+ says or at least $55k again lol, and I lose that money, especially when all of my friends, my mom and …

In a dramatic twist, one of this week’s Multichain hackers has returned 322 ETH ($974,000 at the time of writing) to the cross-chain router protocol and one of the affected users. However the hacker kept 62 ETH ($187,000) as a “bug bounty”, and a total of 528 ETH (worth $1.6M) remains outstanding after the exploits. Earlier this week, news emerged of a security vulnerability with Multichain relating to the tokens WETH, PERI, OMT, WBNB, MATIC, and AVAX, and $1.43 million was stolen. Multichain announced on Jan. 17 the critical vulnerability had been “reported and fixed.” However, publicity about the vulnerability …

The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for First Trust SkyBridge’s spot Bitcoin exchange-traded fund after several deferments. In a Thursday filing, the SEC rejected a proposed rule change from the New York Stock Exchange, or NYSE, Arca to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust. The SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.” The decision follows SkyBridge first applying to list a Bitcoin ETF …

It’s another shake-up for the finance industry as Montreal-based Bitcoin (BTC) startup Shakepay raised $35 million from investors. The fresh funding from the United States-based venture capital firm QED Investors values the company at $251 million. Founded in 2015, Shakepay allows Canadians to buy and sell BTC and pay their friends. It also supports the purchase of Ether (ETH). The startup aims to use the funds to consolidate growth, focus on bringing on additional products to market such as the recently launched Shakepay Visa Prepaid Card, and expand the team. Speaking to Cointelegraph, ShakePay CEO Jean Amiouny said: Shakepay’s seen …

Despite a 40% drop in the value of Bitcoin (BTC), MicroStrategy's Michael Saylor has no intention of selling his firm's $5 billion stash. Even if BTC suffers a lengthy bear market, Saylor told Bloomberg that he is a "Bitcoin bull," and he does not intend to alter MicroStrategy's multibillion-dollar BTC acquisition plan. He took a firm stance against cashing out BTC: “Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin, right? That’s our strategy.” This current crypto winter doesn't have Michael Saylor feeling all that cold. He tells @emilychangtv why in Studio 1.0 https://t.co/EsUlY5sscN pic.twitter.com/zWStdl5qsF — Bloomberg TV …

BlockFills, a digital asset electronic market making, trading and prime brokerage, has announced the completion of a $37 million Series A funding round. Institutional investors, including Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures, and Nexo Inc., led the round. Since its inception in 2018, the firm has received a total of $44 million from institutional investors in two funding rounds. We’re excited to announce the successful close of our Series A #funding round totaling $37 million! See how this funding will support our global expansion and help institutions safely and efficiently engage #digitalasset markets: https://t.co/lfXHHxCaS1. #VC …