Crypto

Growing client demand for cryptocurrencies and the belief that they represent a new asset class help to explain traditional financial institutions’ newfound interest in digital assets, the chief strategy officer at Bitrue has said. The collapse of FTX and Terra Luna in 2022 and the resulting bear market may have helped to remove barriers to entry. The entrance and presence of “tradfi”…

Coinshares, a European digital asset manager, is moving into the U.S. with a new hedge fund division aimed at institutional investors. The firm, based in Saint Helier, Jersey, intends to offer comprehensive services for institutions exploring crypto assets. Coinshares Expands to U.S. With New Hedge Fund Division The company revealed its new branch, Coinshares Hedge Fund Solutions, signifying its…

Crypto exchange Binance and its CEO Changpeng Zhao (CZ) have filed a motion to dismiss the lawsuit against them by the U.S. Securities and Exchange Commission (SEC). “It is clear that the SEC’s lawsuit has no foundation in the currently enacted securities laws,” they argued, alleging: “In attempting to claim regulatory power over the crypto industry, the SEC distorts the text of the…

Ethereum continued to slip lower on Friday, as the cryptocurrency fell below the $1,600 level in today’s session. Crypto markets have mostly consolidated since the Federal Reserve opted to keep rates unchanged earlier this week, with the global market cap down nearly 1%, as of writing. Bitcoin continued to trend lower. Bitcoin After falling to its lowest point since Monday late in yesterday’s…