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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Bitcoin trust manager Grayscale reaches $40B in assets
The cryptocurrency fund manager saw rapid growth in the value of the assets it holds as institutional demand for shares erupted
The firm said it now oversees $40 billion worth of assets. The vast majority of that is in the $33.1 billion Grayscale Bitcoin Trust and $5.7 billion Grayscale Ethereum Trust. The remaining $1.2 billion is in six alt-coin trusts and the multi-asset Grayscale Digital Large cap Fund.
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Bitcoin appears to be stabilizing above $50,000 as Ether pushes $2,000 barrier (Photo: CoinMarketCap)Markets Report: New all-time highs keep coming for Bitcoin, Ether
The past 24 hours brings records for the two largest cryptocurrencies, with charts providing little bearishness to spoil the mood
Ether hit new all-time highs of $1,929 on February 18 as a brief lull in Bitcoin price action allowed for further upside. The latest push higher brings Ether closer than ever to the significant psychological barrier at $2,000, something which if broken could immediately spur a surge to $2,200.
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Markets Report: Ether hits $1,700 high but data hints firms piling into Bitcoin
Sideways price action continues for Bitcoin, but all the signs of a bullish continuation are there before the weekend
Monday began with the fallout from retail investors’ takedown of shorters on traditional markets. As regulators caught on and trading platforms shut down access to certain stocks, Bitcoin proponents swiftly stepped in to highlight the comparative freedom inherent in Bitcoin markets.
