After a lingering closer to $50,000 support, Bitcoin saw a boost as mainstream media reported a market entry soon to come from Morgan Stanley. According to unnamed sources talking to CNBC, the bank will provide wealthy clients with $2 million or more in assets exposure to three Bitcoin funds.
Lawsuit looming, Ripple sees solidarity and departures
As the impact of the Securities and Exchange Commission’s lawsuit hits some supporters are taking off, some are backing away, and some are offering support
While Ripple has offered an aggressive response, promising to fight the enforcement action it calls “an assault on the entire American cryptocurrency industry and an assault on American innovation”—companies working with Ripple and XRP have had very different responses.
Mike Novogratz’s Galaxy Digital acquires two crypto trading firms
The digital asset merchant bank will leverage DrawBridge Lending and Blue Fire Capital to build on its ‘strong position as a go-trading desk’
Galaxy Digital plans to leverage the two newly acquired firms to strengthen its “trading solutions portfolio, relationships with global exchanges, and lending & derivatives expertise.”
Citing DeFi’s “transformative” power, Mike Novogratz invests in ParaFi
Crypto merchant bank Galaxy Digital and asset management company ParaFi look to jointly back projects supporting decentralized finance.
ParaFi founder and managing partner Ben Forman added that “programmable finance is a 'zero to one' innovation enabled by blockchain, and DeFi represents the nascent architecture for a new, open financial network.”