Crypto News Cast For May 7th 2021 ?

in #bitcoin3 months ago

Crypto News Cast May 7th 2021 ?

Crypto News Cast 📮 07-05-2021

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Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap: $2400 B
📊24h Mcap %: 0.53%
⚠️Bitcoin Dom: 44.70%
📌Active Coins: 6451
📍24h Vol %: 33.60%
💲24h Vol: $298 B

Crypto News Updates :

  • Grayscale Becomes Official Sponsor of a National Football League Team
  • Metromile Car Insurance Company Now Accepts Bitcoin Payments
  • Electricity Costs From Crypto Tax Now Deducted By South Korea Miners
  • Europe's First Cryptocurrency ETF Comes In Play, Being Launched By VanEck
  • ING Claims DeFi Could Be More Disruptive To Banks Than Bitcoin
  • Dogecoin Ready To Hit $1 And Settle As StableCoin Mark Cuban
  • U.S-Based Goldman Sachs Offers New Derivatives Product To Wall Street Investors
  • Banking Giant Citigroup Considers Launching Crypto Trading and Custody Services

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Grayscale Becomes Official Sponsor of a National Football League Team

Grayscale partners with the National Football League team, New York Giants to “support the New York metro area” based on a recent announcement. This makes Grayscale the first Crypto partner of an NFL team, which conferred on it the status of the “Official Digital Currency Asset Management Partner of the New York Giants.” Based on this, the digital asset manager will host educational seminars on cryptocurrencies for the teams’ personnel annually. Read Full on CryptoSlate.

Metromile Car Insurance Company Now Accepts Bitcoin Payments

Metromile car insurance company, allows customers to pay for premiums in Bitcoin and policyholders will also receive crypto for their claims. The Nasdaq-traded Car insurer with headquarters based in San Francisco also plans to buy $10 million worth of BTC this quarter. CEO Dan Preston shared that Bitcoin is a natural next step for them in being able to give customers a choice. And also this is helping them meet strong Customer demand. Read Full on U.Today

Electricity Costs From Crypto Tax Now Deducted By South Korea Miners

South Korea’s Ministry of Economy and Finance reportedly now allows Crypto miners deduct electricity costs as business expenses. South Korea have seen a rise in cryptocurrency mining activities as seen in the increase of mining hardware imports. Inspite of the criticism around crypto in South Korea, PC gaming rooms use their computers to mine cryptocurrencies. South Korea's 20% tax on crypto trading is applied only to gains above 2.5 million. Read Full on cointelegraph.

Europe's First Cryptocurrency ETF Comes In Play, Being Launched By VanEck

It's reported that VanEck investment company is set to launch an ETF. This will checkmate the performance of MVIS Global Digital Assets Equity index which has 30 blockchain and crypto-related. The company also offers exposure to its customers to be able to bet bet on its new product, the VanEck Vectors Digital Assets Equity UCITS ETF popularly called DAPP which already is listed on London Stock Exchange and Deutsche Boerse. [Read Full on U.Today)(https://u.today/vaneck-rolls-out-first-cryptocurrency-etf-in-europe)

ING Claims DeFi Could Be More Disruptive To Banks Than Bitcoin

The Netherlands-based ING Bank carried out more deep analysis on Defi projects. The blockchain manager, Herve Francois said that DeFi could be more disruptive than Bitcoin to the financial sector. He added that Defi is now the company's digital asset vision, with Defi now worth around $76 billion in assets locked up on Ethereum alone. ING banks poses as the leading frontier on the cryptocurrency space by leading other banks on an institutional-grade custody solution and anti-money laundering measures for digital assets. Read Full on CoinDesk.

Dogecoin Ready To Hit $1 And Settle As StableCoin - Mark Cuban

Dogecoin, the joke coin saw a massive 23,000% this year, now No. 4 coin by market cap. Mark Cuban, Dogecoin Hypeman believes the meme coin is headed to $1 and will stay there. He says Dogecoin is easier to transact with and could become more of a currency than bitcoin. Cuban also added that dogecoin is getting more utility case and could even be used for transactions and therefore isn't for speculation. Read Full on Decrypt.

U.S-Based Goldman Sachs Offers New Derivatives Product To Wall Street Investors

Goldman Sachs, U.S-based banking giant recently started offering a new derivatives product to Wall Street investors. The new product is a Bitcoin-backed non-deliverable forward contracts which relies on CME Group's Bitcoin futures to shield against the volatility of cryptocurrencies. This will be achieved through block trades on the Chicago Mercantile futures exchange with Cumberland DRW as Goldman’s partner. Read Full on U.Today

Banking Giant Citigroup Considers Launching Crypto Trading and Custody Services

Citigroup is looking into launching crypto trading, custody, and financing services considering the massive interest in Bitcoin from their major clients. Itay Tuchman, Citi’s global head of foreign exchange further clarified this saying that the interest in Bitcoin has been rapid since last August and the banking giant is looking at the best way to serve the clients. Tuchman believes Crypto is here to stay so there is no rush. Read Full on theblockcrypto.