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Members Area Crypto Daily March 24 · Issue #866

Crypto Daily March 24 · Issue #866

March 24

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER

March 24 · Issue #866

Crypto prices recover in overnight trading as public equity companies continue to lag crypto’s 24-7 trading Bank of England warns interoperability will be needed for cross-border digital payment platforms The UK’s fnancial watchdog is warning that accessibility from trading apps is causing young investors to make high risk bets in crypto The Headlines

Public and Private Sector Must Collaborate on Interoperability of Digital Payments

WWW.REUTERS.COM

Bank of England Deputy Governor Jon Cunlife called on the public sector and private frms to say that it is essential that “interoperability is present” to allow new developing digital currencies to switch between diferent platforms FCA Warns Younger Investors are Taking on Big Financial Risks

WWW.FCA.ORG.UK

The UK’s Financial Conduct Authority has issued research warning that “younger investors are taking on big fnancial risks” trading in high-risk digital currencies and foreign exchange markets prompted in part by the accessibility ofered by new investment apps.

Federal judge Rules for IRS Against Crypto Holders

WWW.COINTELEGRAPH.COM A federal judge has dismissed a case raised by an individual looking to force the Internal Revenue Services to expunge fnancial records obtained from exchanges stating the plaintif is not entitled to compensation for damages, or to limit the IRS’ ability to obtain tax information from the exchanges due to the Anti-Injunction Act.

Hut 8 Joining Foundry USA Pool

WWW.EINNEWS.COM � Canadian crypto miner Hut 8 (TSX: HUT) has joined Foundry’s North American-based adding over 0.81 exahash of compute today with plans to add a total of up to 1.2 exahash by the end of the summer.

Robinhood Submits Confdential S-1

WWW.BLOG.ROBINHOOD.COM � Commission-free trading platform Robinhood has confdentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public ofering of its common stock.

Buy a Tesla with

WWW.TWITTER.COM � � Tesla (NASDAQ: TSLA) CEO Elon Musk tweeted that the electric vehicle and clean energy company will allow customers to buy cars with bitcoin. Additionally, he added that the company “is using only internal & open source software & operates bitcoin nodes directly” and all bitcoin will be retained by the company and “not converted to fat currency.” Abra Introduces Lending Feature

WWW.GLOBENEWSWIRE.COM Crypto wallet and trading platform Abra has launched Abra Borrow, a lending and borrowing service designed to provide users with the ability to use crypto as collateral for borrowing fat against their digital asset holdings on the company’s mobile app.

Gemini Starting New Early Stage Venture Fund

WWW..COM Gemini has announced the formation of the Gemini Frontier Fund, a strategic venture fund focused on investing in early-stage crypto projects and startups.

Fed Named Central Bank of the Year

WWW.CENTRALBANKING.COM

Central Banking magazine has named the US Federal Reserve System its central bank of the year citing among other actions, “its eforts to introduce instant payments… and in-depth research into the future workings of a ‘digital dollar.’”

Vote on "FTX Arena" Happening Friday

WWW.MIAMIHERALD.COM The Miami-Dade County Commission plans to meet on Friday to vote on crypto derivative exchange FTX’s sponsorship agreement at the county-owned arena in downtown Miami that would rename the Miami Heat’s American Airlines Arena, FTX Arena.

Market Data

Crypto Exchanges Hold Lowest Amount of Bitcoin Ever

WWW.BEINCRYPTO.COM CryptoQuant analytics is reporting that the amount of bitcoin being held on exchanges has plummeted to a new all-time low signifying that crypto-traders are returning to hodlers.

EIP-1559 Not Likely to Reduce Gas Fees WWW.COINMETRICS.IO �Digital currency data and intelligence frm Coin Metrics has released “The Gas Report” discussing the issues facing Ethereum transaction fees and suggesting that the recently proposed EIP-1559 is an improvement but is not likely to make the transaction fees any less expensive.

Exchange, Custody and Product News

Coinbase Adding ANKR, CRV, and STORJ

WWW.BLOG..COM

Coinbase Pro is adding trading support for Ankr (ANKR) Curve DAO Token (CRV) and Storj (STORJ) for clients in all jurisdictions except for CRV in the State of New York.

Bitfnex Adds Of-Exchange Settlement

WWW.COINDESK.COM Crypto exchange Bitfnex announced it has has integrated Copper’s “ClearLoop” settlement and clearing network, which removes the need for institutional customers to move digital tokens from a secure cold wallet into an exchange’s hot wallet.

Thoughts on the Ecosystem

Wealth Managers Still in Crypto 'Education Mode'

WWW.REUTERS.COM

Fidelity Investments believes the vast majority of wealth managers and fnancial advisors are still in “education mode” and are learning about digital currencies.

BitDigest is a weekday news update on digital currencies and technology distributed by Parsons & Whittemore, a single-family ofce based in Rye Brook, New York. It is being distributed to subscribers of FSInsight Digital Assets under agreement with the Author. The commentary, analysis, opinions and recommendations in this newsletter represent the personal and subjective views of the Author, and are subject to change at anytime without notice. The information provided in this newsletter is obtained from sources which the Author believes to be reliable. However, the Author has not independently verifed or otherwise investigated all such information. Neither the Author, FSInsight nor any of their respective afliates make any guarantee or other promise as to any results that may be obtained from reading this newsletter. While past performance may be analyzed in this newsletter, past performance should not be considered indicative of future performance. No reader should make any investment decision without frst consulting his or her own fnancial advisor and conducting his or her own research and due diligence. BitDigest is not making a solicitation or ofer to buy or sell any securities of any kind.

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER

Disclosures (show)