Coinbase outbid rival cryptocurrency exchange Binance to acquire crypto prime broker Tagomi in an all-stock deal. The acquisition will help Coinbase better serve institutional investors entering in the crypto space.
During a call, Goldman Sachs analysts said they do not believe bitcoin is a viable investment for their clients’ portfolios, citing its high volatility and unstable correlations to other assets as reasons for their rationale.
Australian Investment app Raiz Investments has launched a portfolio for its users with a 5% allocation to bitcoin. The portfolio was designed to give them exposure to the cryptocurrency “in a managed, risk-adjusted way.”
Sponsored: Eidoo is launching Visa debit cards available for all its EU and UK-based users that offer a crypto cashback of up to 10%. You can claim your card here.
Top stories in the Crypto Roundup today:
- Coinbase Outbids Binance to Acquire Crypto Prime Broker Tagomi
- Bitcoin Is Not a Viable Investment for Client Portfolios, Goldman Sachs Says
- Australian Investment App Launches Portfolio With Bitcoin Allocation
- Sponsored: Eidoo launching Visa debit card for real-time global payments using Bitcoin and Ether
At the time of writing, bitcoin (BTC) is trading at $9,125.41 (2.11%) with a daily Top Tier volume of $4.52 bn. As for ether (ETH), it is trading at $204.79 (0.44%) with a daily Top Tier volume of $580.40 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,961.90 (3.41%).