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Altcoin Frenzy Pushes Crypto Market to $2 Trillion – eToro Crypto Roundup

Binance Coin (BNB) rises 50% as Litecoin (LTC) and Stellar (XLM) make 16% gains. While Bitcoin (BTC) and Ethereum (ETH) are resting at the key milestones of $60K and $2K respectively, smaller altcoins are darting ahead, pushing the total crypto market cap beyond $2 trillion for the first time. BNB is the biggest winner of […]

The post Altcoin Frenzy Pushes Crypto Market to $2 Trillion – eToro Crypto Roundup appeared first on The Daily Hodl.

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Binance Coin (BNB) rises 50% as Litecoin (LTC) and Stellar (XLM) make 16% gains.

While Bitcoin (BTC) and Ethereum (ETH) are resting at the key milestones of $60K and $2K respectively, smaller altcoins are darting ahead, pushing the total crypto market cap beyond $2 trillion for the first time.

BNB is the biggest winner of the week with 50% gains, making the market cap of the coin more than $60 billion, bigger than traditional banks including Santander. Close behind, other altcoins have also made big gains, with Zcash, Litecoin and IOTA all boasting a 16% increase.

The rising prices come amidst growing excitement about digital assets. Bitcoin prices in South Korea hit $70K early in the week as the kimchi premium resurfaced and the cryptoasset was featured on the front page of the famous financial newspaper Barron’s.

This week’s highlights
  • Corporate adoption gathers pace
  • State Street turns to Bitcoin
Corporate adoption gathers pace

Corporations are buying more crypto than ever, with both new entrants and old hands scooping up Bitcoin.

Last week, California real estate firm Caruso announced it will allocate roughly 1% of its treasury to Bitcoin and accept the cryptoasset for rent on all its properties.

This follows another big allocation from American business intelligence firm MicroStrategy, which has fed its bottomless appetite with another purchase of 253 BTC for $15 million. On the other side of the planet, Chinese app developer Meitu has bolstered its own treasury with another $10 million allocation to Bitcoin.

State Street turns to Bitcoin

The second-oldest bank in the United States, State Street, has announced that it will provide trading infrastructure for Pure Digital – an automated over-the-counter market for digital assets aimed at institutions.

Speaking to the Financial Times, Pure Digital chief executive Lauren Kiley said,

“Banks are telling us that they can’t ignore client demand for cryptoassets, and they realize it’s a market they need to get into.”

Her words explain the accelerating race for banks to adopt cryptoassets. State Street joins BNY Mellon, JPMorgan, Goldman Sachs and several other big Wall Street banks jostling to enter the new market.

The week ahead

The longer Bitcoin lingers around $60K, the bigger the breakout that could finally be expected, and two events in the coming week could help pull the trigger on a large move.

On Tuesday, the US government is set to release customer price index data. This will be scrutinized for signs of inflation and could see traders flock to Bitcoin as a safe haven.

On Wednesday, Coinbase’s debut on the Nasdaq could also spark interest in the crypto industry as the initial public offering raises more awareness of the digital currency ecosystem.

This post originally appeared on the eToro blog.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://dailyhodl.com/2021/04/12/altcoin-frenzy-pushes-crypto-market-to-2-trillion-etoro-crypto-roundup/

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Bitcoin can be purchased with MoneyGram using Coinme ATM operators

TL;DR Breakdown • MoneyGram will work with physical cryptocurrencies.• Coinme expects to expand its crypto operations globally by 2022. The North American money transfer company, MoneyGram, announced its merger with Bitcoin last Wednesday. This company will allow its clients to buy in Bitcoin and withdraw their holdings of the crypto converted into cash. This measure […]

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TL;DR Breakdown

• MoneyGram will work with physical cryptocurrencies.
• Coinme expects to expand its crypto operations globally by 2022.

The North American money transfer company, MoneyGram, announced its merger with Bitcoin last Wednesday. This company will allow its clients to buy in Bitcoin and withdraw their holdings of the crypto converted into cash. This measure is applied globally so the Bitcoin investor will have freedom in withdrawing cash.

This news has captivated many merchants with a long relationship with North American banking. For the process to complete, MoneyGram had to partner with Coinme, the largest crypto exchange in the United States. With this huge collaboration, Coinme promises to support over 20 thousand physical locations in the country.

Coinme and its partnership with MoneyGram to give Bitcoin

Bitcoin

Alex Holmen, SEO at MoneyGram, said this partnership with Coinme opens up a new space for crypto investors to profit. The company wants the digital currency to become a fiat currency, such as the dollar or the euro. However, the volatility of Bitcoin and other cryptocurrencies is not compared to that of local currencies.

The new service will be rolled out to all MoneyGram locations in the United States in the coming months. Coinme also plans to take this method globally, partnering with other crypto exchange companies.

MoneyGram points out that it has 150 million users around the world. This popularity of the company will increase as the new Bitcoin withdrawal system is known.

MoneyGram joins the Bitcoin business with other companies

The American company was founded in 1940, and its headquarters are in Dallas, Texas. MoneyGram competes with Western Union to be the best national and international transaction company.

For the year 2017, MoneyGram became interested in cryptocurrencies, and since then, it has grown in popularity. Although the company’s guidelines with handling Bitcoin are not clear, their intentions could be very good.

The international transaction company joins the crypto game after other similar companies have seemingly invaded. For February, Mastercard said it would support cryptocurrencies starting this new year. This slight attraction is achieved after Bitcoin had a rise that would take it to reach its all-time high in price.

But PayPal also announced that it would work with Bitcoin to make the purchase/sale more secure. These American crypto pioneers are making good decisions that attract traders. Since October of last year, cryptocurrencies can be bought in the PayPal wallet.

MoneyGram will release an official statement when its crypto transactions are approved. After the announcement, Bitcoin and other cryptocurrencies are expected to increase in value and reach new all-time highs.

Going from buying digital to physical cryptocurrencies can be a great idea and provide secure storage. Coinme has a great reputation in American exchange banking and is a great partnership with Moneygram.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/bitcoin-can-be-purchased-with-moneygram/>

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Goldman Sachs executive resigns after making a fortune from Dogecoin

TL;DR Breakdown Aziz McMahon makes fortune from Doge investment Doge metric rise over the year Aziz McMahon is another person who has hit the jackpot thanks to his Dogecoin crypto investment, as he reportedly made millions from the meme coin. The London-based executive took a bow from his job with the bank after working with […]

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TL;DR Breakdown

  • Aziz McMahon makes fortune from Doge investment
  • Doge metric rise over the year

Aziz McMahon is another person who has hit the jackpot thanks to his Dogecoin crypto investment, as he reportedly made millions from the meme coin.

The London-based executive took a bow from his job with the bank after working with the financial institution for more than 14 years, his LinkedIn profile shows, according to eFinancialCareers.

According to the site, McMahon might be starting a hedge fund that cited sources at Goldman as he is yet to respond to requests for comment, but Goldman confirmed his departure to Insider.

Also, the exact amount McMahon made from his Dogecoin holdings was not made public. Sources claimed that it was a substantial sum, pointing out that DOGE rallied over 1,000% in value this year.

The former Goldman Sachs executive made his Dogecoin fortune trading with a personal account and was not affiliated to Goldman Sachs.

Dogecoin metric rise over the year

Although at press time, the meme coin is on a decline and has been over the past seven days, however, this does not diminish the success the meme coin has enjoyed so far in the year.

The meme coin has recorded landmark gains outstripping the largest cryptocurrency, Bitcoin (BTC), in the number of related internet search queries.

Doge has emerged as the fastest-growing digital currency since 2021, began posting up to 13,500% growth year-to-date, and surging from just $0.005 to an all-time high of $0.68 on May 7.

Dogecoin’s recent tumble came after Musk called the meme token a “hustle” on SNL, adding that it’s “as real” as a dollar bill. However, the meme coin is having a run for its recent surge as a clone, and rival coin, Shiba Inu, has been surging above it recently.

The coin has broken to a new ATH but has seen a 13 percent decline at press time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/banker-resigns-after-fortune-from-dogecoin/>

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BitMEX Executives to Face Trial in March 2022

BitMEX’s former executives Arthur Hayes, Benjamin Delo, and Samuel Reed will face trial in March 28th, 2022.

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The executives of the derivatives trading platform – BitMEX – will face trial in March next year. The money laundering case will come 18 months after charges were first filed. The former members of BitMEX can face up to 5 years in prison and a $250,000 fine if found guilty.

The Trio Heads to Trial

Last year, US officials accused the CEO of the company Arthur Hayes, the co-founder Benjamin Delo, and the chief technology officer Samuel Reed of violating the Bank Secrecy Act. Moreover, the members of BitMEX were served with money-laundering charges.

On May 11th – 18 months after the first accusations against them – New York District Judge John Koeltl set the trial date for March 28th, 2022. Furthermore, Gregory Dwyer – BitMEX’s head of business development – also faces charges but will appear in court separately.

Even though the company’s headquarters are in the Seychelles, the US Department of Justice accused BitMEX of failing to apply anti-money laundering procedures while doing business with US-based customers.

Interestingly enough, the ex-CEO of BitMEX – Arthur Hayes – said that the exotic island was a more convenient place for business as it was much easier to bribe Seychelles’ authorities rather than the US ones. The former executives of the cryptocurrency exchange could face a maximum of five years in prison and a $250,000 fine.


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Where Was Arthur Hayes?

Attorney Jessica Greenwood told the court that Hayes has ”discussed a surrender date of April 6th, 2021 in Hawaii.” She added that ”the plan is to notify the Court in advance of that appearance and discuss logistics” around his submission.

As CryptoPotato reported, even after his remote announcement Hayes continued to reside abroad and explained that he would only visit the United States whenever has to face the trial in New York.

In the end, the former BitMEX CEO indeed turned himself in on April 6th, 2021. However, the officials released him on a $10 million bond pending the future court process.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitmex-executives-to-face-trial-in-march-2022/

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