This coin could follow in Dogecoin’s footsteps

SafeMoon: This coin could follow in Dogecoin’s footsteps

SafeMoon has gained a lot of ground in the last 24 hours. The coin is very popular on Reddit and some are already wondering if SafeMoon is the new Dogecoin – but what exactly is behind the project?

SafeMoon is a community project that was recently launched on the Binance Smart Chain (BSC). On 2 March, it was possible to purchase the SafeMoon token via DxSale.Network. Since then, the token has been Profit Secret tradable on various exchanges, with the decentralised exchange (DEX) PancakeSwap being the exchange with the highest liquidity.

In total, the cryptocurrency has 1,000,000,000,000 tokens (one quadrillion), which is an extremely high token supply. However, in order to strengthen the trust of the users, the developers already destroyed 223 billion tokens.

In addition, the number of tokens is regularly reduced automatically by a built-in smart contract mechanism. For every transaction a user carries out with SafeMoon, a share of 11 per cent is burned. This means that these tokens disappear permanently, which leads to a steady reduction of the SafeMoon token supply.

There are also penalties for token holders who sell their SafeMoon

This penalty consists of a 10 percent fee that traders have to pay for the sale of SAFEMOON tokens. What is special about this is that this fee goes back to the SafeMoon token holders and the SafeMoon/BNB liquidity pool on PancakeSwap. Through all these integrated features, the SafeMoon development team aims to support the token’s course and generate sustainable growth for the project.

According to bscscan.com, the project had just 1,000 token holders as of 8 March. At the time of going to press, this number has grown to over 43,099 hodlers. In the same period, the cryptocurrency’s price has risen by over 800 per cent. Due to these developments, the BSC token has experienced enormous hype in recent days and a large community has formed on Reddit that actively promotes the coin in several groups – some are even already comparing the coin to Dogecoin (DOGE) on Reddit. Even though the hype around SafeMoon might just be starting, there are definitely big risks.
SafeMoon the new Dogecoin or scam?

SafeMoon has an extremely interesting token model overall, but it is primarily aimed at generating hype – hodlers are rewarded and sellers are punished. The project does not yet deliver any real economic added value. Therefore, the price is currently driven primarily by the community and the attention the project receives in the crypto space.

In addition, the development team behind SafeMoon is anonymous and only legitimises itself through its rules laid down in the smart contract. But no external party has yet checked and verified the code of the SafeMoon protocol. For this reason, one should be extremely cautious about SafeMoon. On the BSC, there have already been multi-million scams by anonymous development teams in the past.

Per se, however, it cannot be said that an anonymous team is a bad sign for a crypto project. Well-known DeFi projects, such as SushiSwap, often have this as well. In general, one can see that anonymous teams are increasingly developing projects from the decentralised financial sector (DeFi) – presumably also due to regulatory concerns. Nevertheless, in such projects that are considered „legitimate“, the code is always checked by various external teams that enjoy a good reputation in the crypto space. This is to prevent fraud and improve the general reputation of a project within the community. If SafeMoon wants to spark a similar hype as its role model Dogecoin, the project should think about such trust-building measures as soon as possible.

Chainlink (LINK): price history following the new record high

Chainlink (LINK) hit a new all-time price of $ 27.02.

The LINK has experienced a daily rate of rise of around 1% throughout its market cycles.

Its current cycle has the highest rate of increase

On February 5, 2021, Chainlink’s (LINK) price hit an all-time high of $ 27.02, before declining slightly.

So far, Chainlink has gone through four major market cycles. Unlike the majority of other altcoins, the LINK has mostly moved bullish.

In this article, Bitcoin Revolution will take a look at these previous cycles and compare their development to that of the current market.

Chainlink’s first market cycle

The first market cycle for the LINK took place between September 2017 and June 2018.

The cycle started with a low of $ 0.12 on September 28, 2017. A rise of 1237% in 103 days followed this low, creating the first record price of $ 1.51. The latter was maintained until June 2019.

After hitting that high, the LINK corrected over the next 171 days. It finally stabilized at a low of $ 0.159 on June 28, 2018.

After that, the LINK price entered its second market cycle. It has not since returned to its low of $ 0.159.

The second market cycle took place between June 2018 and March 2020. This cycle experienced a significantly higher growth rate than the first.

In 372 days, the LINK rose 2,786% to a high of $ 4.80 on June 29, 2019. After breaking the initial all-time high of $ 1.51, the LINK continued to rise at an accelerated pace until ‚to reach $ 4.80.

The price then corrected for the next 258 days, decreasing by 72%.

Although the LINK technically hit a slightly higher high in March, due to the latter being part of a flat correction, we see it as part of the correction structure.

The third market cycle began on March 13, 2020 with a low of $ 1.34. It continued until reaching a high of $ 20.71 on August 17, 2020. The growth rate of around 1% per day was in line with that of the previous two market cycles.

After peaking in August, the LINK corrected 61% over the next 128 days. Similar to the second cycle, the LINK actually hit a slightly lower low a little earlier, but the final low of $ 8.03 is still part of the correction.

Since then, the LINK has been on the upswing. A new all-time high of $ 27.02 was hit on February 5, 2021.

Chainlink’s current market cycle has seen the highest growth rate to date. The LINK increased 198% in just 41 days, with a daily rate of increase of 5%.

If the LINK continues with the same growth rate, the current cycle will be the fastest yet, which will likely cause a parabolic rise.

Termosfera Bitcoin’a wskazuje

Termosfera Bitcoin’a wskazuje, że cena jest nadal na „niskim końcu“ byczego cyklu

Według badacza Geerta Jana Capa, wciąż jesteśmy na początku biegu byków Bitcoinów, który będzie miał wpływ na cały rok 2021.

Według nowych danych sugerujących aktywność górników i Bitcoin Rush zachowania inwestorów, Bitcoin (BTC) nadal znajduje się w „dolnej części“ bańki, która będzie miała wpływ na rok 2021.

W ostatnim rozwoju, że działania cenowe BTC nadal ma ogromny potencjał wzrostu, badacz Geert Jan Cap pokazał bycze sygnały dostarczane przez Bitcoin thermocap.

Termokopa sugeruje, że Bitcoin jest dopiero w powijakach.

Termokap to metryka, która ma na celu monitorowanie cykli cenowych Bitcoinów na podstawie działań podejmowanych przez górników i inwestorów w zakresie kupna i sprzedaży BTC.

Wykorzystuje on tzw. wielokrotność termokapy, która dzieli cenę Bitcoinu w danym dniu przez skumulowaną nagrodę blokową, czyli wszystkie nagrody uzyskane przez górników od pierwszego dnia pracy w sieci.

Wynikająca z tego wartość pozwala dowiedzieć się, jak opłacalna jest sprzedaż po określonej cenie, a w konsekwencji wyjaśnić, dlaczego zmienność cen wpłynęła na krypto walutę w różnych okresach w historii Bitcoina.

„Pokazuje obecność bańki cenowej o bardzo wysokim stosunku sygnału do szumu“, we wstępie do parametru wyjaśniono, dodając, że termokap „pozwala na porównanie pęcherzyków cenowych“ i „wydaje się pokazywać stosunkowo stałą wartość wielokrotności dla „zdrowych“ poziomów cen“.

17 stycznia 2021 roku, Bitcoin’s termocap Multiplex stanął na 17,5, po spadku z ostatnich 20 wysoki osiągnięty na początku miesiąca.

Biorąc pod uwagę, że z historycznego punktu widzenia aktywność przypisywana bańce pojawia się między 16 a 60 rokiem życia, staje się oczywiste, że Bitcoin ma jeszcze sporo miejsca do zbadania podczas tego byczego cyklu.

„Nadal jesteśmy na niskim końcu fazy bańki 2021“, podsumował Cap w komentarzu na Twitterze.

Słabe wyprzedaże ręczne definiują rynki niedźwiedzi BTC

Jeśli chodzi o sposób, w jaki hodlarze powodują i reagują na ruchy cen, statystyk Willy Woo uważa, że cykl sprzedaży przez słabe ręce na każdym rynku niedźwiedzi Bitcoinów jest zjawiskiem dającym się udowodnić, które ma pierwszeństwo przed nowymi narracjami.

W niedzielę Woo podkreślił zrealizowaną cenę Bitcoina (suma dolarów amerykańskich przechowywanych w sieci) powyżej najniższych wartości odnotowanych pod koniec 2018 roku i w marcu 2020 roku. W pierwszym przypadku BTC/USD spadły o 85% w stosunku do poprzedniego wysokiego poziomu, blisko 20 000 USD.

„Słabe ręce (kupujący inwestujący w chwyty FOMO) zawsze rezygnują, pozwalając ostrożnym kupującym z silnymi rękami na wykorzystanie okazji“, skomentował.

Digitaalisen valuutan käyttöönotto on ehdottomasti väistämätöntä

Digitaalisen valuutan käyttöönotto on ehdottomasti väistämätöntä, ennustaa Standard Chartered CEO

Standard Charteredin toimitusjohtaja uskoo, että digitaaliset valuutat ovat „väistämättömiä“, koska sekä yksityisellä sektorilla että hallituksen tukemilla yhteisöillä on johtava rooli käyttöönottoprosessissa.

FinTech-tapahtuman aikana Standard Charteredin toimitusjohtaja väitti, että digitaalisten valuuttojen viimeaikaista ja tulevaa Bitcoin Profit käyttöönottoa johtavat yksityiset ja julkiset yksiköt. Hän totesi myös, että digitalisoiva maailma tekee niiden käyttöönotosta „ehdottoman väistämätöntä“.

Digitaaliset varat ovat „väistämättömiä“

Standard Chartedin toimitusjohtaja Bill Winters on sanonut, että digitaalisen omaisuuden luominen ja käyttöönotto on „ehdottoman väistämätöntä“.

Tuoreen uutisraportin mukaan brittiläisen monikansallisen pankkijätin toimitusjohtaja ehdotti, että on olemassa „uusi maailma, joka on avautumassa“. Hän lisäsi, että digitaalisten valuuttojen käyttöönoton on mentävä pidemmälle ja sitä johtaa sekä yksityinen sektori että hallituksen tukemat yksiköt.

Tämän vuoden virtuaalisen FinTech-festivaalin aikana Singaporessa Winters on tiettävästi ilmoittanut, että hyvin pian rahoituslaitos ilmoittaa lisää uutisia „tällä tavoin“. Hän sanoi myös, että käyttöönotto tapahtuu kansainvälisen maksujärjestelmän nopean kehityksen takia.

„Mielestäni keskuspankin digitaalisilla valuutoilla ja muilla kuin keskuspankin tukemilla digitaalisilla valuutoilla on ehdottomasti rooli“, toimitusjohtaja sanoi maanantaina tapahtuman aikana.

Winters totesi myös, että mielenkiintoinen kehitys olisi „sellaiset valuutat, jotka eivät täsmää itse valuutan kanssa, mutta joiden tarkoituksena on kaapata joko osajoukon yläjoukko“.

Hän huomautti myös, että digitaalisia varoja voitaisiin luoda erityishankkeille, kuten kaupalle vapaaehtoisilla hiilimarkkinoilla. Näin ollen käyttäjät, jotka haluavat kompensoida hiilidioksidipäästöjään, olisivat varmoja siitä, että heidän hankkeensa rahoitus on „todennettu, standardoitu, seurattu“.

Oikeita toteutuksia tukevat odotukset

Wintersin lausunnot ovat tapahtumasarjan seurauksena, mikä lisää digitaalisen omaisuuden käyttöönottoa. Kuten CryptoPotato äskettäin kertoi, kiinalainen verkkokauppias JD.com ilmoitti mahdollistavansa ostot digitaalisella juanilla. Kiinan suurin sähköisen kaupankäynnin foorumi käyttää tilaisuutta toteuttaa ja antaa asiakkailleen lisää maksutapoja CBDC: n avulla.

Yhtiö aikoo myöntää ja antaa 100 000 digitaalista käteiskuponkia 20 miljoonan yuanin arvosta 11. joulukuuta. Tavoitteena on kannustaa Suzhoun kaupungin asukkaita itäisessä Jiangsun maakunnassa perehtymään ja tottua innovatiiviseen valuuttaan, koska se voi pian olla analoginen maksujärjestelmä maassa.

A escala de cinza continua com seu acúmulo de Bitcoin

O Bitcoin continua sendo um ativo digital com grande demanda no mercado e no varejo e as instituições estão em uma corrida para colocar as mãos no maior número possível de BTCs. Do lado institucional, a escala de cinza tem enchido sua bolsa de Bitcoin Profit com mais e mais BTC como muitos outros. De acordo com uma atualização recente, a escala de cinza adicionou 12.319 BTC ao seu Bitcoin Trust [GBTC] em escala de cinza no decorrer de um único dia. Esta quantia foi supostamente mais do que a compra cumulativa na semana passada.

Kevin Rooke tuitou :

“Más notícias para os ursos de Bitcoin.

O Bitcoin Trust da escala de cinza acabou de adicionar 12.319 BTC a $ GBTC em um único dia.
Isso é mais do que 11.512 BTC adicionados durante toda a semana passada, quando o Bitcoin quebrou seu ATH. ”

A escala de cinza tem competido ativamente com outras instituições e isso era visível em suas participações em Bitcoin para 2020, que testemunhou um aumento de mais de 66% até a data. Os dados sugerem que a participação de Bitcoin da Gryascale atingiu 588,97 mil BTC, o que equivale a aproximadamente $ 12,78 bilhões de ativos sob gestão.

Esta adição vem na esteira da compra da Microstrategy 30k BTC por $ 650 milhões. De acordo com o Bitcoin Treasuries, a empresa de inteligência de negócios agora tem 70.470 BTC no valor de mais de US $ 1,596 bilhão em sua reserva de tesouraria. De acordo com o CEO Micheal Saylor, a MicroStrategy gastou $ 1,125 bilhão em bitcoin até o momento, a um preço médio de $ 15.964 por BTC.

Curiosamente, a SkyBridge Capital anunciou o lançamento de um fundo Bitcoin para “democratizar” os investimentos no espaço criptográfico

Ele deu o pontapé inicial no fundo com US $ 25 milhões e com uma assinatura mínima fixada em US $ 50.000.

A compra institucional é um sinal de alta, o aumento das saídas das bolsas também contribuiu para esse ímpeto de alta. Espera-se que o aumento dos fluxos de saída termine no armazenamento refrigerado e isso levou muitos analistas no mercado a prever que o topo ainda não foi visto. O chefe de desenvolvimento de negócios da Kraken, Dan Held, comparou os dados com a redução anterior do Bitcoin e previu que o topo será visto em setembro de 2021.

Elon Musk pregunta sobre la conversión del balance de Tesla a bitcoin

El domingo, Elon Musk preguntó sobre la posibilidad de convertir las „grandes transacciones“ del balance de Tesla en Crypto Engine, según un intercambio en Twitter entre Musk y un conocido defensor de la moneda digital.

Si quiere hacer un favor de 100.000 millones de dólares

Michael Saylor, CEO de MicroStrategy, en un tweet a Musk, sugirió que el multimillonario fundador y jefe de Tesla, hiciera el movimiento.

„Si quiere hacer un favor de 100.000 millones de dólares a sus accionistas, convierta el balance de $TSLA de USD a #BTC“, escribió Saylor en su tweet. „Otras firmas en el S&P 500 seguirían tu ejemplo y con el tiempo crecería hasta convertirse en un favor de 1 billón de dólares“.

„¿Son posibles esas grandes transacciones?“ Musk respondió a Saylor. „Sí. He comprado más de 1.300 millones de dólares en #BTC en los últimos meses y estaría encantado de compartir mi libro de jugadas con ustedes fuera de la red….“, Saylor twiteó.

No se pudo contactar con Tesla y Musk para hacer comentarios.

„Cada CEO se enfrenta al reto de cómo preservar y mejorar el valor para los accionistas ante la expansión monetaria sin precedentes de este año“, dijo Saylor en un mensaje a Reuters. „Bitcoin es la mejor solución al problema de la reserva de valor al que se enfrenta cada individuo, inversor y corporación en la Tierra“.

Récord de alta

Las acciones de Tesla alcanzaron un máximo histórico el viernes en un día frenético de negociación, mientras los inversores se preparaban para la tan esperada entrada del fabricante de coches eléctricos en el índice de referencia S&P 500 el lunes.

Bitcoin alcanzó un máximo de 24.299,75 dólares el domingo, después de pasar el hito de los 20.000 dólares por primera vez la semana pasada, en medio del creciente interés de los grandes inversores.

The price of Bitcoin faces this last resistance zone before reaching $20,000

Bitcoin is approaching its historical peak, but there is still an area of resistance that buyers must overcome.

Bitcoin traders (BTC) are identifying order books from major exchanges that show the USD 19,500 level as a short term resistance level.

Bitcoin Rejects USD 19,500 for Now

On November 25, Bitcoin’s price was rejected at USD 19,500 with relatively large volume on the major spot exchanges. At Binance, for example, the BTC price reached USD 19.484 before seeing a slight decline to less than USD 19.300.

The lower rejection probably occurred because of the piles of sell orders between USD 19,450 and USD 19,550.

A popular trader known as „Byzantine General“ shared the order books of all the major exchanges that showed USD 19,500 as a key area for sellers.

Vijay Boyapati, a Bitcoin researcher, similarly said that the USD 19,500 to USD 19,550 range remains the last wall of sales before a new historical peak.

If Bitcoin does not test the $19,500 range again in the next few hours, this could mean that another drop is likely. Considering that it would be the last resistance to the new historic peak, traders expect some reaction from sellers.

Another small setback would benefit Bitcoin because it would further neutralize the futures funding rate of Wealth Matrix. The BTC futures funding rate has once again risen to 0.07% at Binance Futures and other exchanges.

Given that Bitcoin’s average funding rate is 0.01%, another short-term drop to restore the derivatives market may even strengthen the upward momentum.

Short contracts at levels not seen since April is a relevant variable

However, one variable to consider is that the number of short contracts in the Bitcoin market is at its highest level since April 2020.

In March, the price of Bitcoin fell below USD 3,600. Subsequently, it continued to rise, eventually exceeding USD 19,000. The rally accelerated in April when short contracts reached an annual high.

The probability of a short term bearish contraction increases as the number of short term contracts in the market increases. A small downward contraction occurs when the price of an asset continues to rise despite the presence of significant selling pressure.

This trend causes short sellers to buy their market positions, which drives increased market demand for purchases. An analyst known as „Cactus“ wrote:

„BTC’s short contracts are at the highest point since April 2020…“

If the number of short positions continues to rise, it would also cause a drop in the futures funding rate. In some ways, this could make the rally more sustainable in the medium term.

Research traces fraudulent ads using celebrities and Bitcoin to Moscow

More countries are reportedly involved in a major global Bitcoin advertising fraud.

Investigation tracks fraudulent ads using celebrities and Bitcoin to Moscow

A major Bitcoin (BTC) publicity stunt involving unauthorised images of Australian celebrities apparently promoting fake investment schemes is reportedly coming from Russia, according to a new report.

Bitcoin’s fraudulent advertisements capitalising on Australian celebrities such as Dick Smith and Andrew Forrest are part of an organised global business using at least five Moscow addresses, a Guardian investigation said.

On 13 December, The Guardian published a report providing further details of a major Bitcoin ad scam that has been running on news websites since at least 2018. As reported earlier, the scam involved fake articles using unauthorised images of celebrities to advertise fraudulent investment schemes in cryptomime and steal money. The Guardian itself was a victim of the scam, as the news agency accidentally published some of these fraudulent advertisements.

According to the latest report, The Guardian Australia found five names of people who registered hundreds of fake websites related to the scam, „all with addresses in central Moscow“. The news agency said Google launched an investigation because two of the email addresses were linked to Gmail accounts

The Guardian noted that there is other information suggesting that the fraud scheme may also have links to Ukraine, referring to a March 2020 report from the Organised Crime and Corruption Reporting Project, or OCCRP. The OCCRP investigation found a call centre running similar Bitcoin scams operating in Kiev.

In March 2020, a whistleblower revealed the existence of an encryption scheme operating in Ukraine. The 200-employee fraud scheme targeted mainly investors from Australia, New Zealand and the United Kingdom, promoting false news articles using celebrities such as Gordon Ramsay, Hugh Jackman and Martin Lewis. The scheme would have raised US$70 million in 2019.

Fidelity-CEO nennt das Bitcoin-Custody-Geschäft des Unternehmens „unglaublich erfolgreich“

Fidelity-CEO Abigail Johnson ist der Meinung, dass die Kryptowährungsbranche jetzt erst richtig durchstartet
Fidelity-CEO bezeichnet das Bitcoin-Custody-Geschäft des Unternehmens als „unglaublich erfolgreich“

In einem Interview mit dem Crypto Genius Finanzmagazin Barron’s behauptete Abigail Johnson, die CEO des 3,3 Billionen Dollar schweren Investmentfondsriesen Fidelity, dass das Custody-Geschäft ihrer Firma rund um Bitcoin „unglaublich erfolgreich“ gewesen sei:

Also, im Moment ist unser Custody-Geschäft rund um Bitcoin unglaublich erfolgreich. Wir haben eine enorme Pipeline, und es ist wirklich spannend zu beobachten.

Sie fuhr fort zu erwähnen, dass sie nie erwartet hätten, dass die Bereitstellung von Custody ihre Priorität sein würde, wegen Bitcoins Quintessenz des „sei deine eigene Bank“ Ethos:

Und wenn Sie mich am Anfang gefragt hätten, ob wir oder irgendjemand die Verwahrung von Bitcoin priorisieren würde, hätte ich gesagt: „Auf keinen Fall. Ich meine, das ist irgendwie das Gegenteil von dem, worum es geht.‘

 

Der Mangel an erstklassigen Drittverwahrern war ein großer Schmerzpunkt für Bitcoin, da Hedge-Fonds und andere institutionelle Teilnehmer dringend ihre Bestände schützen müssen.

Fidelity hat seine eigene Lösung Ende 2019 vollständig ausgerollt. In ihrem Oktober-Interview mit der Financial Times nahm Johnson einen nicht ganz so versteckten Seitenhieb auf Coinbase Custody und behauptete, dass die meisten Leute „noch nie davon gehört haben.“

Wie U.Today berichtet, hat Fidelity Digital Assets diese Woche in Zusammenarbeit mit dem Krypto-Kreditgeber BlockFi begonnen, durch Bitcoin besicherte Kredite anzubieten.

Verwandt

Fidelity behauptet, Billionen könnten in Bitcoin in einem neuen Bericht
Krypto beginnt wirklich abzuheben
Die Milliardärin behauptet, dass das Hauptziel von Fidelity aus kommerzieller Sicht darin besteht, die Welt der Legacy-Finanzierung mit „der Zukunft der digitalen Währung zu verbinden.“

Das heißt, sie findet es schwierig, mit allem Schritt zu halten, was in der Krypto-Industrie passiert:

Ich meine, persönlich finde ich es faszinierend, aber es ist auch ein Bereich geworden, der einfach… Wenn Sie wie ich sind und einen Tagesjob haben, ist es sehr, sehr schwer, damit Schritt zu halten. Ich habe also das Gefühl, dass ich nicht annähernd so gut über alles informiert bin, was in der Branche passiert, was einfach super spannend ist.

Laut Johnson fängt die Branche „wirklich an“, sich zu erholen. Sie erwähnte besonders das Lightning Network, Bitcoins native Layer 2 Skalierungslösung:

Wissen Sie, Dinge wie das Lightning Network, bei dem wir helfen werden, es zu ermöglichen, fangen tatsächlich an, Realität zu werden.

 

BlockFi has announced the new offering that will allow the giant Fidelity to provide loans and use Bitcoin as collateral.

Recall that Fidelity offers its mostly enterprise customers a security, trading and digital asset support service, and is one of the largest financial services providers in the world as it has over $8.7 trillion of its customers‘ money under management.

For its part, BlockFi, on the other hand, founded in 2017, was created to give its customers access to financial products they wouldn’t otherwise have access to. One of the strengths of this company are the interest on the deposits that users have by putting their cryptos in this service, blocking them for a certain period of time, for example blocking 1 BTC for 48 months, the total interest comes to just under 5 thousand dollars.

Returning to the news, Fidelity has relied precisely on BlockFi to provide its customers with this type of loans using crypto, to be precise using Bitcoin, as collateral to receive fiat and spend them as the user sees fit.

This service has been requested by many since it is already available in decentralized finance (DeFi) thanks to various protocols and on different blockchains. In fact, the macro category in which this type of tool falls is called lending and borrowing, in which we find on the one hand those who lend their crypto in exchange for interest, and on the other those who borrow crypto by paying an interest (sector explained in detail in the book Mastering DeFi).

Fidelity and BlockFi together for loans in Bitcoin

So this collaboration sees two major players, who among other things boast high security on the custody of users‘ funds, as BlockFi CEO Zac Prince mentioned:

„We are excited to partner with Fidelity Digital Assets to help facilitate capital efficiency within their trusted digital asset management platform. Having the ability to fund positions is a critical component of the financial services infrastructure and this collaboration reflects an exciting development for the digital asset ecosystem.“

But this is just the natural evolution of a service that Fidelity provides to its users, recalling that as early as last year Fidelity had partnered with BlockFi regarding interest-based accounts.

Fidelity’s head of sales and marketing for digital assets, Christine Sandler, commented:

„We continue to see demand for greater capital efficiency from institutions with long positions in bitcoin, and with this collateral brokerage capability, our clients seeking that efficiency can access greater opportunities with the capital they entrust to us to keep it safe. For Fidelity Digital Assets, this is an exciting first step in supporting the burgeoning digital asset lending market and deepening our relationships within the digital asset ecosystem with leading firms like BlockFi, allowing us to provide even higher level institutional solutions to investors in this space.“

Finally, remember that Fidelity itself has always defended Bitcoin from criticism and will soon be ready to offer another major asset such as Ethereum (ETH), demonstrating an openness to other assets as well.

As for BlockFi, instead, we know that Morgan Creek has invested as much as $50 million on this platform.