Bitcoin crosses Rs 19 lakh mark

Major cryptocurrencies traded in the green early on July 20. The global crypto market rose to 1 trillion over the last day. On the other hand, the total crypto market volume rose to $101.53 billion over the last 24 hours. The price of Bitcoin hovered over Rs 19 lakh. Bitcoin's dominance of the crypto market stood at 42.2 percent according to CoinMarketCap data. In other news, smaller, lesser-known digital tokens commonly referred to as altcoins led a push higher in cryptocurrencies that saw Bitcoin head towards $23,000. Ether, the second-largest digital currency, jumped as much as 10.7% on Tuesday in Asia. Solana added 13 per cent and Polkadot about 7 per cent. Bitcoin at one point rose 6.8 per cent and was trading at $22,880 as of 9:15 a.m. in Tokyo. Read more

French Banking Giant BNP Paribas Enters Crypto Custody Space

French Bank BNP Paribas (BNP) is entering the crypto custody space via a partnership with Swiss digital asset safekeeping firm Metaco, according to three people with knowledge of the deal.
Many large banks are edging towards crypto custody, but what makes this deal particularly significant is BNP Paribas Securities Services’ position as a major global custodian with almost $13 trillion in assets under custody.
BNP Paribas did not respond to requests for comment. Metaco declined to comment. Read Further

Mike Novogratz says he was ‘darn wrong’ on risks of crypto leverage

Mike Novogratz, the billionaire investor who once called himself the ‘Forrest Gump of Bitcoin,’ said the recent turbulence in the cryptocurrency industry is a “full-fledged credit crisis” and acknowledged that he was “darn wrong” about the magnitude of the leverage in the system. “What I don’t think people expected was the magnitude of losses that would show up in professional institutions’ balance sheets and that caused the daisy chain of events,” Novogratz said at the Bloomberg Crypto Summit Tuesday. “It turned into a full-fledged credit crisis with complete liquidation and huge damage on confidence in the space.” Read More 

Trade Republic registers in Italy as cryptocurrency operator

Investment platform Trade Republic said on Tuesday it had registered with Italy's crypto industry regulator as a cryptocurrency operator. The admission to Organismo degli Agenti e dei Mediatori (OAM) has entered into effect on July 15, said Trade Republic, which started operating in the country in December. (Reuters)

Valkyrie Establishes $30m Venture Fund, Investing in Crypto & Web3 Projects

In April, the firm hired Lluis Pedragosa, a renowned venture capital expert, to lead Valkyrie Ventures. Pedragosa is a veteran of Israel’s VC scene who is the founder and former partner of cybersecurity-oriented Israeli VC Team8, which focuses on enterprise technologies, artificial intelligence, and fintech. Valkyrie will geographically focus on startups in Israel and the US, with plans to invest in startups seeking to bridge the gap to web3 for average users. More Details