NFTs
Crypto NFT Today: Week 4 February
Welcome to another edition of NFT Crypto Today! The last two weeks have been full of unmissable events that will define points for the future of blockchain, cryptocurrency and NFTs.
With Bitcoin hitting $63,000 in late February, Gemini paying over $1 billion in a settlement, and more, there’s a lot of essential news you should know. So let’s dive in and see what’s going on!
Bitcoin reaches US$63,000 in February 2024
Cryptocurrency prices experienced a surge on February 29th as both Bitcoin and Ether prepared to conclude the month on a positive note.
On the last day of February, Bitcoin saw a gain of over 5%, reaching $63,252.82, as reported by Currency Metrics. It briefly rose to $64,000 on February 28 before a series of long sell-offs triggered a pullback to around $60,000. Ether also grew by more than 6%, reaching $3,483.81.
Bitcoin is already up 47% on the month, achieving its sixth consecutive month of growth – its most impressive performance since December 2020, when it rose 49.5%. Ether, on the other hand, saw a gain of over 51%.
TrendingWHO cancer agency asked experts to withhold documents
Gemini pays more than $1 billion in settlement
Superintendent Adrienne A. Harris: “#Twins failed to conduct due diligence on an unregulated third party later accused of massive fraud, harming #To win clients who were suddenly unable to access their assets after Genesis Global Capital suffered a financial collapse…”
-NYDFS (@NYDFS) February 28, 2024
Gemini, the cryptocurrency exchange, has committed to refunding customers $1.1 billion following a settlement with the New York Department of Financial Services (NYDFS).
Additionally, as part of the settlement, Gemini will be required to pay $37 million to the NYDFS due to “significant failures that posed a threat to the security and stability of the company.”
The NYDFS alleges that Gemini, owned by the Winklevoss twins, Tyler and Cameron, exhibited “compliance, management and internal audit issues” in the administration of its Earn program. Launched in 2021, Gemini’s Earn program allowed customers to lend their cryptocurrency to Genesis Global Capital in exchange for interest.
MicroStrategy President Receives $700 Million After Crypto Surge
MicroStrategy shares, predominantly influenced by its Bitcoin holdings, rose 10% on February 28, resulting in a three-day rally that represented a 40% increase. Chairman Michael Saylor, who holds a significant 12% stake in MicroStrategy, is the company’s largest investor. Additionally, he revealed in 2020 that he owns 17,732 bitcoins.
Taking into account Saylor’s control of MicroStrategy and his Bitcoin holdings, his net worth increased by approximately $700 million compared to the previous Sunday. On Wednesday, its overall holdings increased from $2.27 billion at the start of the week to $2.96 billion in value.
Kraken Announces Institutional Kraken for Crypto Services
Kraken, a renowned cryptocurrency exchange recognized for its emphasis on security and reliability, has introduced Institutional Kraken. This new venture brings together a comprehensive suite of Kraken offerings tailored to meet the needs of institutional clients, spanning asset managers, hedge funds and high net worth individuals.
Kraken Institutional seeks to function as a comprehensive platform, providing scalable and seamlessly integrable solutions for institutions venturing into the realm of crypto assets. This consolidation incorporates Kraken’s well-known services such as spot trading, over-the-counter (OTC) trading and staking, all bolstered by cutting-edge cybersecurity measures and an award-winning account management team.
Published: February 29, 2024