Altcoins are on the rise, as Ethereum and Dogecoin have shot up to new highs this week. ETH was trading above $3,500, while Dogecoin has come closer to trading at $1 than ever before in anticipation of Elon Musk’s stint as guest host of “Saturday Night Live”.
U.S. banks are ready to offer crypto services to their customers thanks to partnerships with digital asset fund manager NYDIG. Hundreds of banks are already enrolled in the program, where customers will soon be able to buy, hold and sell bitcoin through their existing accounts.
Popular auction platform eBay is now looking into allowing crypto payments. While no official decision has yet been made, eBay’s CEO Jamie Iannone says that his company prides itself on permitting new forms of payment, and that crypto presents several new opportunities for both eBay and its customers.
S&P Dow Jones Indices has launched three new cryptocurrency indices. The S&P Bitcoin, Ethereum and Crypto Mega Cap Index will allow retail traders to easily gain exposure to the largest cryptocurrencies, while the indices can also be used to track crypto prices in the legacy finance world.
Payment app Square has reported its first quarter income with record revenue. The company brought in 266 percent more revenue than it did during the first quarter of last year, claiming this is largely due to massive jumps in bitcoin’s price.
European banking app Revolut will permit its crypto investors to move their digital assets to other platforms or wallets. Currently, Revolut, much like PayPal and Robinhood prevents its users from taking the bitcoin bought on their platform and moving it elsewhere.
Barry Silbert’s Digital Currency Group will now buy up to $750 million in Grayscale’s GBTC shares. That’s a $500 million increase from the crypto giant’s announcement in March, and the boost comes as the largest crypto fund remains mired in a steep discount to the underlying Bitcoin it holds.
Berkshire Hathaway Vice Chairman Charlie Munger called bitcoin “disgusting and contrary to the interests of civilization” at the company’s annual shareholder meeting. The 97-year-old Munger together with legendary investor Warren Buffet have long criticized bitcoin for its extreme volatility and lack of regulation.
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https://99bitcoins.com/bitcoin-news-summary-may-10-2021/
