Entrepreneur and Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, has revealed he now holds more crypto than gold. During an interview hosted by Daniela Cambone from Stansberry Research, O’Leary stated that his investment portfolio has a larger exposure to crypto than gold, however, he still advocates for holding both as they are “two different asset classes” and that comparisons between gold and Bitcoin are irrelevant: “I have 5% in gold. Crypto for the first time is more than gold for me, and I’m going to keep my gold. I see no reason to sell it.” “The best …

U.S. Bank, the fifth-largest retail bank in the United States, announced Tuesday that it is launching a cryptocurrency custody service for institutional investors, potentially setting the stage for wider mainstream acceptance of digital assets. As CNBC reported, U.S. Bank has partnered with New York Digital Investment Group, or NYDIG, to provide custody services for Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC). Gunjan Kedia, a senior executive at U.S. Bank’s wealth management and investment division, told CNBC that support for other cryptocurrencies like Ether (ETH) will be rolled out over time. Fund managers and other institutional investors have been increasing …

The old adage “The crypto market is not for the faint-hearted” was put on full display recently when the total market capitalization of the industry dipped to a relative low of $1.75 trillion on Sept. 20, only to make a strong comeback. Despite all of these fluctuations, however, demand from institutional investors remains strong, with reports suggesting that big-money players continued to recently “buy the dip,” especially on the heels of China’s most recent blanket ban that saw bears take control of the market, albeit briefly. To further elaborate on the matter, a recent CoinShares report revealed that over the …

Sky Mavis, the studio behind the popular Axie Infinity nonfungible token (NFT) game, has announced a fresh round of funding for the company. In a statement issued on Tuesday, Sky Mavis announced that it had closed a $152-million Series B funding round. According to the announcement, notable crypto and blockchain investors such as global exchange giant FTX, venture capital fund Andreessen Horowitz participated in the investment round. Other investors in the $152-million funding round included Accel, Paradigm, Standard Crypto, as well as Fabric Ventures and Samsung Next among other notable backers. The Axie Infinity maker said it was going to …

BitOasis, a cryptocurrency exchange from the United Arab Emirates, has partnered with the Dubai Police Force to raise awareness about frauds related to crypto investment and trades. The exchange’s partnership with the Dubai Police is intended to help build regulations that will make crypto safe for investors in the region, BitOasis CEO Ola Doudin said. Speaking to Cointelegraph, Doudin stated: “The BitOasis team has been working very closely with policymakers and regulators to build trust and transparency into the crypto ecosystem. Partnering with Dubai Police is also a move in the same direction.” The move to safeguard investors coincides with …

While change is guaranteed, the scale and scope of that change are not. For the financial industry, blockchain — the technology that undergirds Bitcoin (BTC), Ether (ETH), nonfungible tokens (NFTs) and other digital assets — has brought us to the crossroads. What will the future of money look like? We have been operating on the frontline of crypto for the past 10 years, protecting large and small investors alike while allowing them to invest in this exciting new frontier of finance. The experience we’ve gained here helps us to see what’s coming down the road. In this historical period, a …

Bitcoin (BTC) failed to break the so-called September curse, with its price falling by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals. Bybt data shows that Bitcoin has closed October in profit the majority of the time since 2013 — with a success rate of over 77%. Last year, the cryptocurrency surged by 28% to reach levels above $13,500 after finishing September at around $10,800, following an approximate 7.5% decline. Similarly, Bitcoin climbed …

Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman on “The Market Report” — which is live right now! Here’s what to expect in this week’s markets news breakdown: Whales have been busy moving a record amount of Bitcoin (BTC). How will this affect prices? Bitcoin is long overdue for a “FOMO rally” to new all-time highs, according to Bobby Lee, the former CEO of BTCC. Does his claim have merit? Despite China’s crackdown on the crypto industry last week, Bitcoin nodes still appear to be operating in the People’s Republic, proving Bitcoin’s …

Cryptocurrency adoption continues gaining momentum in Switzerland as local financial authorities grant more regulatory approvals for crypto investment instruments. The Swiss Financial Market Supervisory Authority (FINMA) has approved the Crypto Market Index Fund as the “first crypto fund according to Swiss law,” the authority officially announced on Wednesday. The fund is launched by Swiss asset manager Crypto Finance and is administered by investment management firm PvB Pernet von Ballmoos AG with custody by regulated custodian SEBA Bank AG. FINMA noted that the newly approved fund is restricted to qualified investors, investing primarily in cryptocurrencies or digital assets “based on the …

A filing from the United States Securities and Exchange Commission, or SEC, shows that BlackRock Financial Management has increased the number of its Bitcoin futures contracts since Q1 2021. According to a Tuesday filing with the SEC, the BlackRock Global Allocation Fund included 54 Bitcoin (BTC) futures contracts issued through the Chicago Mercantile Exchange as of July 31. The contracts, which expired on Aug. 27, were worth $10.8 million, appreciating by $369,137. The gains from the Bitcoin futures represent roughly 0.00138% of the BlackRock Global Allocation Fund, or 8.91 BTC at the time of publication. The company holds $9.5 trillion …

Bitcoin (BTC) might have outperformed traditional financial markets regarding investment returns, but the cryptocurrency still fell behind Bitcoin-related companies. The price of BTC climbed by about 290% year-over-year in which it surged from $10,695 to a little over $42,000. In comparison, shares of Marathon Digital Holdings (MARA), one of the largest North American crypto mining companies, rose by 1,641% in the same period. Institutions-led pump More crypto mining firms outran spot BTC prices in terms of YoY returns. For instance, Canada-based Bitfarms (BITF) surged 1,736%, while Hut 8 Mining (HUT) and Riot Blockchain (RIOT) rallied by 1,010% and 913% in …

Institutional investors are increasingly looking to move into cryptocurrency investment to grow their revenues in the long term, a new survey revealed. As many as 62% of global institutional investors with zero exposure to cryptocurrencies like Bitcoin (BTC) said they expect to make their first investments in cryptocurrencies within the next year, according to a new survey by European investment manager Nickel Digital Asset Management. Released Tuesday, the survey interviewed 50 wealth managers and 50 institutional investors across the United States, the United Kingdom, France, Germany and the United Arab Emirates. Nickel conducted the survey online in May and June …