Texas-based investment manager, U.S. Global Investors, has bought exposure to Bitcoin. According to a filing with the United States Securities and Exchange Commission (SEC), they have acquired $566,389 worth of shares of Grayscale’s Bitcoin Trust.

The Biden administration is reportedly looking to include more cryptocurrency reporting requirements in an upcoming $3.5 trillion budget reconciliation bill. The report was originally published in Roll Call citing an anonymous administration official. 

Pseudonymous NFT Trader 'Vincent Van Dough’ has launched an NFT Fund with Three Arrows Capital founders Su Zhu and Kyle Davies to invest in non-fungible tokens. Reportedly, the fund, aptly named Starry Night Capital, will aim to raise $100 million.

Top stories in the Crypto Roundup today:

• U.S. Global Investors Acquired Shares In Grayscale’s Bitcoin Trust
• U.S. Treasury Wants More Crypto Reporting Rules in $3.5tn Reconciliation Bill
• Popular NFT Trader 'Vincent Van Dough' Launches NFT Fund 
• Analyzing Airdrops in the Terra Ecosystem

Texas-based U.S. Global Investors Has Bought Crypto Exposure

Texas-based investment manager, U.S. Global Investors, has bought exposure to Bitcoin. According to a filing with the United States Securities and Exchange Commission (SEC), they have acquired $566,389 worth of shares of Grayscale’s Bitcoin Trust.

The filing shows that the company invested $566,389 across three of its eight mutual funds as of June 30. This includes $302,899 GBTC in its Gold and Precious Metals Fund, $222,532 in its World Precious Minerals Fund and $40,958 in its Global Resources Fund.

U.S. Global Investors Bitcoin exposure currently represents 0.19% of the net assets in the fund. Although some sources find the investment to be surprising from a firm that has significant exposure to gold and other minerals,Peter Schiff, a well-known advocate of gold, believes that this investment:

"Is not a surprise nor does it indicate a shift in the way other gold equity managers view crypto or Bitcoin. ”

U.S. Global Investors joins an ever-growing list of major firms that have purchased GBTC to gain exposure to Bitcoin, including Morgan Stanley’s Insight Fund, Edge Wealth Management, JPMorgan Chase, Ark Invest, and Rothschild Investment Corporation.

U.S. Treasury Wants To Add More Crypto Reporting Rules in $3.5tn Reconciliation Bill

The Biden administration is reportedly looking to include more cryptocurrency reporting requirements in an upcoming $3.5 trillion budget reconciliation bill. The report was originally published in Roll Call citing an anonymous administration official. 

If the bill passes, American cryptocurrency firms such as exchanges, would be required to report data about users who are not residents of the United States - this information could then be exchanged with other countries to ensure that people who have exposure to cryptocurrency are paying taxes. 

The $3.5tn budget bill would require all 50 Democratic votes in the Senate to pass, and includes money for climate change, housing, clean energy and a plethora of other things alongside the crypto reporting requirements.

Popular NFT Trader 'Vincent Van Dough' Launches NFT Fund

Pseudonymous NFT Trader 'Vincent Van Dough' has launched an NFT Fund with Three Arrows Capital founders Su Zhu and Kyle Davies to invest in non-fungible tokens. Reportedly, the fund, aptly named Starry Night Capital, will aim to raise $100 million.

‘Vincent Van Dough’ has amassed a large following for purchasing now popular NFTs before they became mainstream. According to their profile on OpenSea, they currently have over 900 Art Blocks - a generative art platform - NFTs in their collection. 

Starry Night Capital is also reportedly looking to launch a physical gallery in a “major city” toward the end of the year, as well as an NFT education portal. 

"I'm a longtime member of the cryptocurrency community, an early NFT adopter, patron of the arts," Dough told The Block. "Our thesis is simple; we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets."

The activity in the NFT ecosystem continues to rise, with August’s NFT volume sitting at $2.3bn compared to July’s $300mn. 

Analyzing Airdrops in the Terra Ecosystem

This submission from @shreyashpatodia, Descipher and Kida analyzes the airdrops that were provided by Anchor to LUNA stakers. Their analysis shows that during the Anchor Genesis airdrop, roughly 48.5 million of the 50 million ANC distributed was sent to stakers. 

ANC’s Genesis airdrop not only distributed tokens to existing stakers, but also brought new users to the Terra ecosystem - with more than 42,000 wallets joining in ~24hours. Successive events, however, have not seen the same levels of success.

Users seem to have grown much less eager to claim weekly distributions as time has gone on - with roughly 50 percent of the fourth weekly airdrop going unclaimed. Those that do claim their rewards are causing increased sell pressure for ANC in the ANC-UST pool on airdrop days.

State of the Crypto by Top Tier Exchange Volume

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