In this week’s newsletter:
- Crypto firm Fireblocks raises $550 million, company valued at $8 billion.
- Fidelity files in the U.S to start ETFs tied to metaverse.
- Texas Governor turns to Bitcoin mining to incentivize power production.
Read our weekly round up below.
Reuters | January 27, 2022
Fireblocks, a digital asset infrastructure provider, said on Thursday it raised $550 million from institutional investors, making it one of the largest financing rounds in the cryptocurrency sector in the last few years. The latest investment valued the company at $8 billion.
BNN Bloomberg | January 27, 2022
The Fidelity Metaverse ETF will seek to provide returns comparable to a proprietary index comprised of stocks of companies that generate at least 50 per cent of their total revenue from categories such as computing hardware and components, digital infrastructure, gaming technology and wearable technology, according to one of the filings.
Texas Governor Greg Abbot Turns To Bitcoin Mining To Incentivize Power Production Amid Re-Election Bid
Crypto Daily | January 28, 2022
The Texas governor believes that Bitcoin miners could help stabilize the Texas electricity grid, which has been struggling to keep up as demand rises. While Bitcoin mining has come under considerable flak for being energy-intensive, there is a growing list of politicians such as Senator Ted Cruz and Austin Mayor Steve Adler who view it as a solution to several energy-related problems.
TipRanks | January 27, 2022
January hasn’t favored the crypto market despite the U.S. Federal Reserve’s latest decision to keep benchmark interest rates on hold instead of raising them to fight inflation. Despite multiple attempts to bounce from steep losses last weekend, major cryptos have yet to mount a full recovery as fear remains high.
Forbes | January 26, 2022
Bitcoin and cryptocurrencies have swung wildly over the last week, with the bitcoin price falling sharply before suddenly rebounding. The ethereum price plunged along with bitcoin and other major cryptocurrencies, wiping over $1 trillion from the combined crypto market in a matter of weeks and sparking fears of a new crypto winter.
Accesswire | January 18, 2022
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