“We can only speculate, but when you measure it in terms of dollars, you have to think [Bitcoin’s] going to infinity,” Powell said in a March 4 interview with Bloomberg. Pushed to be more specific, he said, “I think $1 million as a price target within the next 10 years is very reasonable.”
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Kraken looks for $10B valuation as Coinbase prepares to go public
The U.S. based exchange’s funding round set to value it at as much as $20 billion, while larger rival Coinbase’s S-1 filing could see it worth $100 billion
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.
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Markets Report: Bitcoin recovers from $45,000 lows as Tether legal debacle ends
An amicable agreement between lawmakers, Tether and Bitfinex pleases markets, with Bitcoin heading toward $50,000
News that Tether and Bitfinex had reached a settlement with the New York Attorney General in a legal battle which had begun in 2019, ending crypto’s “most significant existential threat,” served to change market sentiment in an instant.
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Figure Technologies is the latest blockchain firm looking for a bank license (Photo: Wikimedia Commons)Another crypto bank? Blockchain lender Figure Technologies applies for a bank charter
The firm believes that a bank charter will allow it to simplify its compliance efforts and help it serve more customers
According to a Nov. 6 announcement, Figure Technologies applied for a national bank charter from the Office of the United States Comptroller of the Currency (OCC). The firm said in its announcement that the national bank charter would allow it to offer the same set of products and services throughout the U.S. Furthermore, its compliance efforts mean it would have to keep the requirements of only one regulator in mind, reducing costs and risks.
