The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Top stories in today’s The Crypto Roundup:

Blockchain analytics firm Elliptic closes $23 million Series B round.
VanEck and SolidX to offer first-of-its-kind institutional bitcoin product.
Franklin Templeton proposes Stellar-based money market fund.

BTC/USD fell overnight (UTC) from its high of $10,775. The trading pair has now seen three straight red candles on the four-hour chart—and is currently looking like closing a fourth. This slight correction has allowed the four-hour RSI to fall back beneath the ‘overbought’ zone (i.e., 80–100).

At the time of writing, bitcoin (BTC) is trading at $10,594.2 (+1.81%) with daily trusted volumes of $1.94 bn. As for ether (ETH) it is trading at $179.4 (+0.7%) with daily trusted volumes of $299.10 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,233.0 (–0.96%).

Blockchain Analytics Firm Elliptic Closes $23 Million Series B

London-headquartered blockchain analytics company Elliptic announced $23 million in Series B funding led by SBI Group, a Tokyo-based erstwhile subsidiary of SoftBank. Backing Elliptic for the first time was AlbionVC. Returning to invest in Elliptic once more were venture capital firms SignalFire, Octopus Ventures, and Santander Innoventures.

According to Forbes: “The funding will help Elliptic expand its offerings in Asia, where it is opening offices in Singapore and Japan, and develop new products to help customers trace Libra—Facebook's forthcoming cryptocurrency—as well as digital currencies that might be issued by central banks.”

The announcement of Elliptic’s Series B raise adds to what already is arguably the hottest sector of the blockchain technology industry among venture capitalists for 2019. Among the others in the space to have successfully raised private funding this year are Chainalysis, CipherTrace, Solidus Labs, Innoplexus, and dfuse.

VanEck, SolidX to Offer First-of-Its-Kind Bitcoin Product

Investment firm VanEck and financial technology company SolidX will later this week begin selling shares in their eponymous bitcoin trust to qualified institutional buyers (QIBs), in accordance with the U.S. SEC's Rule 144A.

In an overview of its first-of-its-kind product—which “looks and feels like” a traditional exchange-traded fund (ETF)—VanEck explain that it has been designed to provide QIBs “access to a convenient and cost-effective way to buy and hold bitcoin through a cleared security that is tradeable through traditional and prime brokerage accounts.”

Roughly three weeks ago, the SEC delayed decisions on bitcoin ETF proposals by each of Bitwise Asset Management, VanEck/SolidX, and Wilshire Phoenix. The regulator has yet to approve a bitcoin ETF proposal.

Franklin Templeton Proposes Stellar-Based Money Market Fund

Multi-billion-dollar asset management company Franklin Templeton Investments filed on Tuesday a preliminary prospectus with the U.S. SEC for a money market fund. If approved by the regulator, the fund’s shares will be recorded on the Stellar network.

Franklin Templeton is seeking to invest at least 99.5 percent of the fund’s assets under management in government securities, cash, and repurchase agreements that are fully collateralized by government securities or cash. Investments will also be made in “blockchain-based shares,” but not in cryptocurrencies.

VIP Treatment for Everybody!

Another exclusive promotion at mBitcasino aims to offer all players a chance of experiencing the VIP treatment. Regular players and high-rollers are already accustomed to mBitcasino’s stellar VIP program, but the casino wants to give newcomers and low-rollers a chance as well, and it does this through a new promotion type - VIP Points promo.

The way this works is simple: normally, players earn VIP points by simply playing at mBitcasino, but during the VIP Points promotions, VIP points are offered on top of the deposits as well, at outstanding rates - players can get up to 5 VIP points for every deposit they make during a promotional day.

One single deposit coming with 5 VIP points on top will boost a new player to Planet Litecoin, which comes with 50 No Free Spins on the spot, a 25% Reload on the spot, and a 2.5% daily cashback. Scoring 10 VIP Points will boost a player to Planet Ethereum, which brings 100 No Deposit Free Spins, 30% instant reload and 5% daily cashback. The more points, the higher the VIP level, and the better the bonuses.

Linda Murphy, VIP manager at mBitcasino was excited to share the news: “Running a stellar VIP program has always been one of the main missions of mBitcasino, and we have tons of happy VIP players and countless reviews on the Internet acting as proof that we’re doing it right. Now, we want to make it easier to achieve VIP status, and allow more players to benefit from the outstanding offers this status comes from, so we’re excited to introduce VIP Promotions. You can become a VIP with just one deposit - how amazing is that?”