Grayscale Investments is the largest crypto asset manager. In particular, the firm’s total crypto AUM (assets under management) has reached over $50 billion this week, according to Finance Magnates. Citing the company’s announcement on Twitter, the source says Grayscale now manages over $41 billion in Bitcoin, as the BTC price crossed the mark of $64,500 yesterday, April 14.

TIME Magazine’s decision to keep BTC on its balance sheet comes after similar moves by other companies. For instance, MicroStrategy’s reported Bitcoin holdings were 91,579 BTC on April 5. Moreover, just this week the company even decided to pay its board of directors in Bitcoin.

Automaker Tesla purchased $1.5 billion worth of Bitcoin this year. Now, the value of its Bitcoin holdings reached over $2.5 billion because of the BTC price increase, TheStreet reports. Moreover, the company also announced last month that it would be accepting BTC for payment for its cars and keep crypto without converting it into fiat.

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Coinbase is the third-largest cryptocurrency exchange on CoinMarketCap.com by liquidity, traffic, and trading volumes. According to Finance Magnates, the financial results also show that the company’s net income in Q1 is around $730-800 million. Moreover, the number of verified users on the exchange in Q1 is over 56 million.

In the announcement, Coinbase also gave predictions on monthly transacting users (MTUs) in 2021. The company expects the number of MTUs to continue growing to 7 million if the crypto market cap keeps increasing. With the crypto market cap remaining flat, Coinbase expects an average of 5.5 million MTUs. Moreover, with the crypto market cap decreasing significantly, it expects a “low” average of 4 million MTUs.            

Coinbase will be going public via a direct listing on April 14 on the Nasdaq stock exchange. It will be trading under the ticker COIN, CNBC reports. Initially, the listing was supposed to happen in March but was delayed until April. After the publication of the financial results, investment bank DA Davidson increased its price target for the company shares ahead of direct listing by 125%.

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Ripple (XRP) currently ranks #7 on CoinMarketCap.com. It has a market cap of over $26 billion and a 24-hour trading volume of over $4 billion. It is currently trading at around $0.58.

In other news related to Ripple, the U.S. Securities and Exchange Commission (SEC) on March 26 sent a letter to U.S. District Judge Analisa Torres to object against XRP holders’ participation in the lawsuit. In December 2020, the SEC sued Ripple and its CEO and chairman for unregistered securities offering worth $1.3 billion. Earlier in March 2021, XRP holders petitioned to take part in the lawsuit but the judge denied the motion. XRP supporters then took to social media platforms to persuade cryptocurrency exchanges in relisting the token.

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Coinbase is the second-largest cryptocurrency exchange on CoinMarketCap.com and the largest US-based crypto exchange. The company was supposed to go public via direct listing on the Nasdaq stock exchange this month and received a valuation of about $68 billion last week. However, according to Bloomberg, the listing was moved to April.  

The cryptocurrency exchange also announced yesterday three new listings on Coinbase Pro. It will list Ankr (ANKR), Curve DAO Token (CRV), and Storj (STORJ), which will become available for trading from Thursday, March 25, at 9 a.m. (PT), once liquidity conditions are met.

Bitcoin is the world’s largest cryptocurrency, with a market cap of over $1 trillion. It reached an all-time high of $61,683.86 on March 13, per CoinMarketCap.com data, but lost some of its gains since then. It is trading at around $56,360 at the time of writing.

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According to the source, the firm made the investment via cryptocurrency exchange Kraken. Moreover, Thornton Place expressed its plans to purchase more Bitcoin in the future.

This investment by the Canadian company is not as large as some other recent institutional buys. Just two days ago, on March 17, the Chinese beauty app maker Meitu invested $50 million to buy about 386 BTC and 16,000 ETH. This is in addition to previously buying about 379 BTC and 15,000 ETH on March 5.

MicroStrategy last week invested an additional $15 million into Bitcoin, bringing its holdings to over $5 billion. Moreover, Tesla in February this year revealed its investment of $1,5 billion in Bitcoin. The company also suggested the possibility of accepting the world’s largest crypto for payments in the future.

Bitcoin’s price has been quite volatile, with a 24-hour low of about $54,253 and a 24-hour high of about $60,116, per CoinMarketCap.com data. It is trading at around $58,700 at the time of writing.

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The source says, citing an official announcement from the company, that hackers stole the funds from Roll’s hot wallet on March 14. Moreover, after moving the funds from the wallet, hackers sold them for Ether using Uniswap.

Reportedly, the cryptocurrency hack of Roll was not the only one that took place this weekend. According to CyberScoop, users of Nifty Gateway had NFTs stolen from their accounts. The source says hackers accessed the victims’ accounts and stole artwork, while someone also reported that their credit card was used after the account hack. Nifty Gateway is a platform that enables individuals to own, buy, sell, and trade digital items on a blockchain.

The losses from cryptocurrency crime totaled $1.9 billion in 2020, according to data by Finaria. Statistics demonstrate that fraud, theft, and ransomware were the leading crypto crimes last year. DeFi-related hacks and scams counted for $129 million of crypto theft in 2020.

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A week ago, Gensler spoke about his thoughts on cryptocurrency regulations, specifically the importance of investor protection. During his confirmation hearing, Gensler also commented on viewing cryptocurrencies either as securities or utility tokens. According to his logic, Bitcoin is not a security, but coins like Ripple are.

The lawsuit between the SEC and Ripple started in December 2020 and is still ongoing. Last week, both the CEO Brad Garlinghouse and the Executive Chairman Chris Larsen filed motions to dismiss the lawsuit.  

In the meantime, Bitcoin, the largest cryptocurrency by market cap, posted gains of about 14% in the past 7 days and around 2.45% in the past 24 hours. It is trading at around $56,100 at the time of writing and has a market cap of over $1 trillion. The second-largest cryptocurrency, Ether, has gained about 14% in the past 7 days and lost about 2% in the past 24 hours. It is currently trading at around $1,770, per CoinMarketCap.com data.

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Cardano has recently launched the “Mary” protocol update. This upgrade introduced multi-asset support to the network with the native tokens on Cardano ADA. Cardano is the fifth largest cryptocurrency on CoinMarketCap.com. Its price is up by 2.3% in the past 24 hours, with a 24-hour trading volume of over $5.34 billion. It is trading at around $0.026 at the time of writing.

In the meantime, Bitcoin has seen a gain of over 10% in the past 7 days and once more crossed the market cap of $1 trillion, per CoinMarketCap.com data. Finance Magnates suggests that Tuesday’s Bitcoin gains of 5% could be related to the movement of over 18,500 coins in one hour by crypto whales. BTC has lost about 0.5% in the past 24 hours. It is trading at around $54,000 at the time of writing.

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