Global Investment Funds Hold More Than $43B In Bitcoin Collectively
According to Financial News, global investment funds currently hold more than $43 billion in bitcoin on behalf of their clients.
“Increasing allocations by large-scale institutional investors and corporate players is expected to lead to a reduction of [bitcoin’s] volatility over time,” - Crachilov told Financial Times.
Bitcoin Water Trust Raises More Than $1.3M in Bitcoin
The trust currently raised 33.75 BTC after its recent launch on June 4, the trust initiative is to provide water security around the world.
How is Water different from other charities? Water hold and accepts BTC, Water aims to keep all bitcoin received until 2025 in order to impact more people than it can currently.
Ransomware & Crypto
Justin Ehrenhofer, a member of the Monero coin development community told Newsweek that the criminal use of the Monero cryptocurrency is projected to skyrocket in the coming years.
The usage of cryptocurrencies for illicit activities has been on the rise the latest being the Colonial Pipeline ransomware.
Bitwise Raises $70M in Series B Funding
Bitwise creates crypto investment products that work with existing infrastructure and workflows tailored for long-term investors.
The company, which became profitable this year, raised $70 million in new capital from a group of institutional investors and more than 30 individuals from Silicon Valley.
Bitwise plans to use the proceeds from its latest funding to strengthen its balance sheet and hire more employees.
Regulations & Crypto
As U.K. banks restrict transfers to digital currency exchanges, American and Swedish authorities signal more crypto oversight.
Over the Memorial Day weekend, financial regulators in Sweden and the United States both hinted at impending crackdowns on largely unregulated cryptocurrency markets, citing the lack of a consistent framework for the new technology, the threat of financial crime, and the risks to consumers posed by crypto exchange platforms, to which a number of U.K. banks have reportedly blocked customers from transferring money.
The Technoking & Bitcoin
Elon Musk the Villain or Samaritan of Bitcoin, call him whatever you wanna call him, took to twitter after being criticized by Sygnia CEO for alleged Bitcoin Pump & Dump. “What we have seen with Bitcoin is price manipulation by one very powerful and influential individual," said Magda Wierzycka in an interview with Bruce Whitfield at the Money Show
So the Technoking took to twitter,
Tunisia Joins the Bitcoin Race
Tunisia's Finance Minister, Ali Kooli, suggested in a television interview over the weekend that the country's cryptocurrency legislation will be changed.
He believes that Bitcoin ownership should be "decriminalized."
Tunisia's Finance Minister made the announcement, after local media reported the arrest of a 17-year-old Tunisian teen in April for utilizing cryptocurrencies for an online transaction. The arrest infuriated Tunisia's crypto community, with many blaming the arrest on the country's lack of regulatory clarity.
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