Cryptocurrency Market News: BlockFi, cryptocurrency lender receives a $50 million investment
|Here is what you need to know on Friday 21 August
BTC/USD is trading at $11,852 and it seems that Bitcoin bulls are back in charge after a failed bearish reversal.
ETH/USD has also bounced from its 12-EMA on the daily chart and defended $400. Bulls are now looking for a new 2020-high above $450.
XRP/USD is still below its 12-EMA on the daily chart and $0.30. Bulls are hoping to at least defend the 26-EMA and see a bounce from there.
OMG is up again with a $1.8 billion in trading volume and a 63% price boost in the past 24 hours. Yearn.Finance has hit $18,000 for the first time ever and it’s still currently trading at $14,722 after a massive bull rally.
Chart of the day: ETH/USD daily chart
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Market
BlockFi, one of the biggest American crypto lending startups has just finished another massive funding round raising $50 million in a Series C round. This one was led by Anthony Pomliano’s firm, Morgan Creek Digital. It seems that Pompliano will be joining the board of directors of BlockFi but he wasn’t the only one participating.
The Winklevoss twins were also featured in this round. BlockFi has already raised $18 million in its Series A round and $30 million in Series B.
Industry
The state of Hawaii has just authorized 12 different cryptocurrency companies to start operating without the need for a money transmission license.
The participating company will be given 2 years to engage in digital currency transactions. DFI has issued a ‘no action message’ – stating that ‘no action’ will be taken against companies conducting what DFI would consider unlicensed money transmission activity if they have been successfully admitted into the program.
The UK’s FCA has approved Gemini as a registered crypto exchange. The exchange founded by the Winklevoss twins has received the green light from the FCA even though it was already operational in the country.
Quote of the day
Cryptography is the essential building block of independence for organizations on the Internet, just like armies are the essential building blocks of states because otherwise one state just takes over another.
– Julian Assange
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