$2 billion bidding war for BVNK
According to reporting from Fortune, Coinbase and Mastercard are separately in advanced talks to acquire London-based stablecoin startup BVNK. The insider chatter is that Coinbase currently has the winning bid (perhaps due to the fact that the company is already an investor in BVNK), but of course that could change at any time. Regardless of the price, Stripe’s acquisition of Bridge is starting to look like the steal of the year. Read more →
Digital asset allocations on the rise
Nearly 60% of institutional investors plan to increase their digital asset exposure in the coming year and average exposure is expected to double within three years, according to a new report from asset manager State Street. Asset Managers (firms that manage money for clients) are further along the adoption curve in comparison to Asset Owners (pensions, endowments, insurers) according to the survey. Managers are twice as likely to hold 2-5% in BTC, three times as likely to have >5% in ETH and, surprisingly, five times more likely to own smaller altcoins. Read more →
Morgan Stanley to let all clients invest in crypto
The $8.2 trillion wealth manager previously only allowed crypto investing for clients with “an aggressive risk tolerance and at least $1.5 million in assets.” Starting Oct. 15th, the firm will allow clients to invest in crypto in any type of account, including retirement accounts. Not only that, but advisors will be able to pitch crypto funds (like ETFs) to any client. Read more →
The US Treasury Won't Tell Us How Much Bitcoin It Owns Link»
Kalshi raises $300 million at $5 billion valuation Link»
Roger Ver (Crypto Jesus) reaches deal with prosecutors Link»
Square to Enable 0% Fee Bitcoin Payments for 4M Merchants Link»
CZ's Investment Firm Kickstarts $1 Billion Builder Fund on BNB Link»
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