The venerable Swiss private banking firm of Bordier & Cie has become the latest bank to jump into the cryptocurrency business, offering its customers a variety of trading and custody services. The move comes as the first phase of Switzerland's new “blockchain law” comes into effect, amending company law and financial market legal infrastructure.
Kraken is in talks with firms including Fidelity, Tribe Capital and General Atlantic to raise the funds. However, if demand is as high as some suspect it will be, Kraken’s value could exceed $20 billion. That follows yesterday’s news that its larger competitor, Coinbase, filed a Form S-1 with the U.S. Securities and Exchange Commission, confirming reports that it will go public with a direct stock listing, probably on Nasdaq.
Bitcoin has almost completed another rollercoaster week in which it met its second major price correction of 2021. Having hit $58,300 all-time highs, bulls lost steam with a retracement becoming a full-on dive in which Bitcoin lost 20%. Subsequent ranging combined with fresh weakness has taken weekly losses to almost 25%.
The unique NFT art was part of the first drop on Nifty Gateway by Beeple, also known as Mike Winkelmann. The record-setting price was obtained when “CROSSROAD #1/1” was resold on the secondary market, the company said on Twitter. “History has been made,” it added. “We can confirm that this is a legitimate sale - this was brokered by Nifty Gateway's art buying services."
