6 April

Through the fund, Canadian investors would be able to access the bitcoin market at what CI said was an industry-low management fee of 0.40% (Series F) and with an initial minimum investment of $500.

CI Global is a unit of CI Financial, one of Canada’s largest investment management companies, overseeing more than $230 billion in assets.”

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“The market capitalization of all cryptocurrencies in existence surpassed $2 trillion on April 5, led by the impressive growth of Bitcoin (BTC), Ether (ETH) and other altcoins in 2021.

The milestone also comes less than three months after the cryptocurrency market surpassed $1 trillion for the first time back on Jan. 7 when the price of Bitcoin was around $33,000.”

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“Investment banking giant Goldman Sachs’ latest decision to retract from its bearish view on the U.S. dollar is receiving a thumbs down from financial markets. Goldman Sachs on Friday recommended closing USD short trades against a basket of currencies, including the commodity-sensitive Aussie and New Zealand dollars.

Although we still expect these currencies to appreciate versus the dollar over the coming quarters, firm U.S. growth and rising bond yields may keep the greenback supported over the short-term.

Betting against the dollar has been one of the most crowded trades of the last 12 months, as per Bank of America’s monthly fund manager surveys. Goldman, however, now fears that selling pressure around the dollar may weaken due to rising Treasury yields.”

“The Lightning Network – a layer atop the Bitcoin blockchain that uses its own special rules to facilitate cheaper, faster transactions – had about 5,335 public nodes in April 2020. Now that number sits at 10,348, a roughly 94% increase. The Lightning Network currently holds 1,185 BTC, worth some $69 million.

With businesses adding Lightning, the network’s liquidity and routing capabilities are improving. User-friendly apps like Strike are also making it easier to onboard users to what has historically been an even more unwieldy technology for the uninitiated than Bitcoin.”

“Fashion NFTs for gaming and virtual reality is already a thing, with several companies creating digital clothing items for use in both metaverses. Some retailers are also creating digital twins of real-life clothing items for sale on NFT platforms. Purchasing these fashion NFTs often grants the buyer access to the corresponding real-life apparel.

For brands like Louis Vuitton and Christian Dior, creating NFTs will be an extension of the already-emerging blockchain utilization in the fashion industry. Back in March 2019, both luxury brands teamed up with Microsoft and blockchain infrastructure builder ConsenSys to utilize the novel tech in authenticating luxury goods.”

“The protocol, which launched a genesis event on April 1, introduced a stablecoin that is partially backed by Ethereum and uses bonding curves coupled with direct incentives to maintain the correct peg.

The issue with FEI right now is most people want to sell it back for ETH, but doing so incurs extreme penalties. Eventually, Fei will re-weight to bring FEI back to its peg, but then what? There’s little real demand for FEI and most are still running for the exits.

I imagine many people who participated in the offering got caught off guard by this inability to redeem FEI for its collateral.”

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The development of blockchain and digital currencies shows that in the future, global settlements might take place on a new technological platform rather than on the SWIFT payments network, said the deputy head of Russia’s Ministry of Foreign Affairs.

Pankin said future alternatives to SWIFT will be more advanced and not dependent on being a monopoly. The emergence of such alternatives will be ‘not only a reaction to the current geopolitical situation but a response to the need to modernize the existing payment methods using the top digital innovations.‘”