Institutions: BitGo Gets Approval to become Cryptocurrency Custodian

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The issue of custody, or how to safely store cryptocurrency has been a matter of contention for institutions.  In fact, its prevented quicker adoption. But that may soon change To help solve the trust issue, companies are rushing to build custody solutions. For institutional investors that are used to having money safely stored or FDIC … Continue reading “Institutions: BitGo Gets Approval to become Cryptocurrency Custodian”

Billionaire Calls Bottom in Cryptocurrencies

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Galaxy Digital CEO and billionaire, Michael Novogratz says cryptocurrency prices have bottomed. That’s music to the ears of traders that watched as Bitcoin and Ethereum crashed to earth. “I think we put in a low yesterday,” Novogratz said, as quoted by CNBC He also noted the Bloomberg Galaxy Crypto index, which measures the performance of … Continue reading “Billionaire Calls Bottom in Cryptocurrencies”

One of America’s Top Banks Jumps on Cryptocurrency Bandwagon

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Another one of the world’s biggest investment banks is developing a cryptocurrency product. Morgan Stanley offers Synthetic Exposure Morgan Stanley is creating a derivatives product that will give traders “synthetic exposure” to the price of Bitcoin. “The U.S. bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the … Continue reading “One of America’s Top Banks Jumps on Cryptocurrency Bandwagon”

Citigroup Creates “Digital Asset Receipts” for Cryptocurrency Investors

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News out of Citigroup could be a game-changer. The Digital Asset Receipt The firm just created a new financial product called a “digital asset receipt.” Reportedly, it will allow institutional investors a less-risky way of investing in cryptocurrency. According to Business Insider: “Citi has developed an instrument it’s calling a Digital Asset Receipt or DAR. It … Continue reading “Citigroup Creates “Digital Asset Receipts” for Cryptocurrency Investors”

Fake News: Goldman Sachs isn’t Ditching Bitcoin Trading Desk

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“I really have to describe the news as fake news.” That’s how Goldman Sachs CFO Martin Chavez labeled a report that the firm was shelving its Bitcoin trading desk.  “I never thought I would hear myself use this term but I really have to describe that news as fake news,” Chavez said, according to CNBC. … Continue reading “Fake News: Goldman Sachs isn’t Ditching Bitcoin Trading Desk”

Cryptocurrency Bloodbath: Goldman Sachs Triggers Move

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You can thank Goldman Sachs for the cryptocurrency bloodbath. Reportedly, the firm has backed down on plans to start its dedicated cryptocurrency desk.  Bitcoin is down another 10.2% this morning.  Ethereum is down 15%. And Litecoin slipped another 14%. While Goldman’s reasons for doing so make sense, it doesn’t make it any less painful They … Continue reading “Cryptocurrency Bloodbath: Goldman Sachs Triggers Move”

Major Financial Institution Acquires Cryptocurrency Software Firm

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With rising client demand, major financial institutions can no longer ignore cryptocurrency. For example, accounting firm Ernst & Young just acquired cryptocurrency investing software firm Elevated Consciousness Inc. EY will now gain access to the Crypto-Asset Accounting and Tax (CAAT) software.  Consequently, it will be used to monitor trading transaction history across multiple exchanges and wallets … Continue reading “Major Financial Institution Acquires Cryptocurrency Software Firm”

Four Key Reasons Institutions aren’t Investing in Cryptocurrency Yet

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Cryptocurrency trust is a stumbling block for institutions. After all, holding virtual currencies in an exchange on the other side of the world can often be risky. That’s especially true with constant reports of hacked exchanges. There’s some hope that can be overcome, especially if Goldman Sachs pushes forward with crypto custody plans.  That means … Continue reading “Four Key Reasons Institutions aren’t Investing in Cryptocurrency Yet”

The Smart Money: Goldman Sachs Eyeing Crypto Custody

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One of the biggest complaints regarding institutional adoption of cryptocurrency is trust. After all, holding virtual currencies in an exchange on the other side of the world can often be risky. That’s especially true with constant reports of hacked exchanges. However, the trust issue may soon change. That’s because Goldman Sachs may offer custody services … Continue reading “The Smart Money: Goldman Sachs Eyeing Crypto Custody”

Donald Trump’s Ex-Advisor Predicts ‘Global Cryptocurrency’

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Gary Cohn, the former Goldman Sachs executive, and Donald Trump’s Ex-Advisor is a big believer in Blockchain technology. In an interview with CNBC’s Bob Pisani, Gary Cohn stated that he is not a big believer in Bitcoin but believes in the underlying technology behind Bitcoin which is Blockchain technology. He made a prediction about the … Continue reading “Donald Trump’s Ex-Advisor Predicts ‘Global Cryptocurrency’”