Top Crypto Concern of Institutional Investors, Ray Dalio on Bitcoin Allocation + More News

Ray Dalio. Source: screenshot from a video, Youtube / Principles by Ray Dalio

Get your daily bite-sized summary of cryptoasset and blockchain news by researching the stories that go unnoticed in today’s crypto news.

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Investment news

  • Concerns about security are what prevents institutional investors from investing in digital and crypto assets, as reported by Bloomberg. 79% of respondents view asset custody as the key consideration for investing in this space. The report was commissioned by Nickel digital asset managementand included interviews with 50 wealth managers and 50 institutional investors, collectively managing around US $ 108.4 billion, in the US, UK, Germany, France and the United Arab Emirates.
  • Legendary hedge fund manager Ray Dalio stated in an interview with The Investors Podcast that he agrees with billionaire Bill Miller’s suggestion that 1% –2% is the correct allocation for bitcoin (BTC). Miller had suggested that “1% to 2% of his portfolio [should go to bitcoin], then if it goes to hell, you’ll be fine. If you do really well, as I think you will in the next 10 years, then you will be glad you had. “
  • Cash transfer company MoneyGram International (MGI) made a strategic minority investment in a cryptocurrency cash exchange company Coinme, which gives it a 4% stake. The deal will close Coinme’s Series A funding round and help support international expansion alongside other growth plans.
  • Bank of America (BofA) analyst Jason Kupferberg demoted Western union underperforming Buy due to structural concerns related to competition from digital remittance providers and potential disruptive threats from new technologies, Benzinga reported.
  • CryptoSlam, an NFT industry data aggregator, closed a $ 9 million funding round led by a venture capital firm Brands Animoca. The new funding will be used for an “aggressive” contracting plan, the expansion of the platform to support new and existing blockchains, and the launch of several new products, they said.
  • Digital asset bank and trading platform Sygnum raised $ 90 million in a funding round that valued it at $ 800 million. The company plans to use the proceeds to develop new offerings, including performance-generating products and asset management solutions for institutional clients.
  • Infrastructure middleware protocol Pocket net has closed a strategic round of USD 10 million led by Capital of the Republic, RockTree Capital, Arrington Capital, Y C² Ventures.
  • CryptoWire, a special business unit (SBU) of the encryption statistics provider TickerPlant, launched the first Indian cryptocurrency index called IC15 that will monitor the world’s top 15 cryptocurrencies listed on global exchanges, according to India Today.
  • Tribal, a B2B financing and payment platform for emerging markets, said it raised a new round of debt of $ 40 million. “This is one of the first rounds of hybrid debt combining fiat and stablecoins,” said Amr Shady, Tribal CEO. The round is funded by Partners for growth Y Stellar development foundation to help Tribal expand its financing and payment services for small and medium-sized enterprises (SMEs) to new Latin American countries, the company added.

Tax News

  • An official from Thailand’s Ministry of Finance stated that profits from cryptocurrency trading are now subject to a 15% capital gains tax, reported the Bangkok Post. The ministry recommends investors identify their income from cryptocurrencies when filing taxes this year to avoid legal penalties.

Adoption news

  • The Central Bank of Bahrain announced the completion of a trial with Onyx by the banking giant JPMorganJPM Coin System, which allowed aluminum smelting Bahrain Aluminum (ALBA) to initiate real-time payments to your US-based counterparties.
  • The main users of requests done from Airbnb CEO Brian Chesky was supposed to enable cryptocurrency payments on the platform. While he did not explicitly state that the platform would integrate crypto, he did say that “they are already working on some” of the products that were requested and “will now analyze others.”

NFT News

  • The australian open is launching a collection of 6,776 non-fungible tokens (NFTs) that correspond to tiny parcels on the surface of the tennis tournament court, along with a virtual event for the competition on the metaverse platform Decentraland. Each winning shot of the 600 matches of the tournament will correspond to one of the NFTs in the collection.

DeFi News

  • Web navigator Opera announced a partnership with decentralized internet company DWeb Foundation on the integration of the decentralized blockchain domain name system, Handshake (HNS). The integration should start working in the first half of 2022.

Game News

  • Sports organization Team vitality and the blockchain project Tezos (XTZ) announced a partnership in which the Team Vitality rosters will represent the Tezos brand in esports and gaming. On the other hand, Tezos will educate fans about the benefits of blockchain as part of the gaming experience and show the advancements of these technologies.

Mining news

  • Shack 8 Mining They stated that they mined 276 BTC in December 2021, and that their total BTC balance in reserve is 5,518 as of December 31, 2021, an increase of 97% over the end of the previous year. Also, they have increased their total hash rate by 125% compared to December 2020.
  • Scientific core announced that it mined BTC 1,044 in December, BTC 2,498 in the fourth quarter, and BTC 5,769 in the full year, representing year-on-year increases of 313%, 235%, and 350%, respectively. At the end of 2021, it was operating a fleet of approximately 67,000 self-employed miners, representing 6.6 Exahash (EH / s), and 100,000 more ASICs were contracted for delivery in 2022.

Scam news

  • Arbix Finance, an audited performance agriculture platform, has been marked as a “rugpull” encryption security company CertiK as he allegedly took down his site, Twitter, and Telegram channel and transferred $ 10 million in deposited cryptocurrencies.

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