“Coinbase announced it will begin the public trading of its stock on April 14. The crypto exchange will also hold a first-quarter earnings call on April 6, providing a financial outlook for 2021.
There’s been much anticipation about the Nasdaq listing. Prices for the shares are predicted to fall between $300 and $350, valuing the trading platform at about $100 billion. The listing would put Coinbase atop an emerging class of publicly-traded firms dealing in bitcoin. Further, a $100 billion debut would make Coinbase more valuable than traditional tech stocks such as Uber.
Based on the average price of $343.58 of shares traded on Nasdaq’s private market last month, CNBC calculated Coinbase CEO Brian Armstrong’s 39.6 million shares will be worth $13.6 billion, catapulting him into the the “decabillionaire” rankings alongside the likes of Jeff Bezos, Elon Musk and Bill Gates.”
“Morgan Stanley is giving a handful of its mutual funds the ability to invest indirectly in bitcoin through cash-settled futures contracts and Grayscale’s bitcoin trust.
The initial rollout features five Morgan Stanley fund families: Institutional Fund, Institutional Fund Trust, Europe Opportunity Fund, Insight Fund and Variable Insurance Fund. Each fund may invest up to 25% of its total assets in bitcoin, the filings state. It was not clear at press time if any had begun.
The green-light underscores Morgan Stanley’s increasing interest in bitcoin as an asset class even if, for now, it is keeping the crypto at arm’s length through indirect exposure.”
“During Q1 we saw the consolidation of institutional involvement, with new names joining MicroStrategy in the bitcoin-on-balance-sheet movement, and with well-known traditional financial institutions announcing plans to roll out crypto services. Yet at the same time, Q1 also saw the emergence of retail investors as a market driver. Activity on more retail-focused exchanges surged along with institutional ones.
Crypto market infrastructure companies completed impressive raises and some even announced plans to go public at hefty valuations, signaling strong belief in the crypto market’s enduring growth and future profitability.
It also started to spill over into ether, the native token of the Ethereum blockchain, highlighting the industry’s technological progress, and a deeper understanding of the benefits of crypto asset diversification.”
“The marketplace says it will be adding support for trading via decentralized protocol Immutable X. OpenSea said Wednesday the technology will provide instant trade confirmation, increased scalability and zero gas fees. The protocol is capable of processing over 9,000 transactions per second.
Integrating Immutable X enables us to offer users a gas-free trading experience without sacrificing the security of the Ethereum network.
ZK-rollups are the only solution above capable of scale without compromise, and though they still have disadvantages in the area of general computation, those challenges are rapidly being resolved.”
“DCash is the digital version of the Eastern Caribbean dollar — the official currency of the eight countries in the union. Wednesday’s launch marked a culmination of the project over two years in development.
Using Bitt’s CBDC management protocols, the ECCB will reportedly be able to mint and issue DCash. The ECCB will also be able to redeem and burn the DCash CBDC. The CBDC was designed to be interoperable with digital currencies around the world. The next step is to work towards full incorporation of DCash into the financial infrastructure.”
“Yearn.finance has revealed today the details of “Coordinape,” a new platform for distributing the $40,000-per-month Yearn DAO community grants budget. The platform is inspired by Teal, a school of organizational theory that advocates for worker self-management, as well as recent developments in computational social choice.
Each Coordinape member will have a set quantity of “allocation points” which they can distribute to other members who they worked with during a given month. Members with the most interactions and allocations will receive weighted portions of the grants budget.
Coordinape let’s each contributor allocate tokens to everyone they think brings value, then when you look at the total allocation across all contributors it’s a pretty accurate and efficient way to assign asymmetric rewards.”