According to Tesla’s latest annual report (on Form 10-K), which has been filed with the U.S. Securities and Exchange Commission (SEC), the electric car maker has already invested $1.5 billion in Bitcoin.

Miami Mayor Francis Suarez has revealed he is working on a resolution to add bitcoin to the city’s balance sheet, and pointed out that Tesla’s announcement on buying bitcoin was “very helpful.”

The Chicago Mercantile Exchange (CME) has launched Ethereum futures contracts on its platform, making it easier for institutional investors to gain exposure to the second-largest cryptocurrency by market capitalization.

Sponsored: Crypto.com Exchange is listing Filecoin on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of FIL at 50% off. The event will commence on Tuesday, 23 February 6:00am UTC on the Crypto.com Exchange.

Top stories in the Crypto Roundup today:

• ‘It Was Inevitable’: Tesla Invests $1.5 Billion of Bitcoin
• Miami Mayor Working on Resolution to Add BTC to City’s Balance Sheet
• CME's Ethereum Futures Contracts Launched
• Sponsored: Crypto.com Exchange is listing FIL at 50% OFF

‘It Was Inevitable’: Tesla Invests $1.5 Billion of Bitcoin

According to Tesla’s latest annual report (on Form 10-K), which has been filed with the U.S. Securities and Exchange Commission (SEC), the electric car maker has already invested $1.5 billion in Bitcoin.

The annual report reads that the firm holds and may acquire digital assets subject to volatile market prices, impairment and unique risks of loss. It adds Tesla has updated its investment policy to provide more flexibility, further diversify and maximize returns on cash that is not required to maintain adequate operating liquidity.

Under the policy, Tesla “invested an aggregate $1.50 billion in bitcoin” and may hold “digital assets from time to time or long-term.” On top of that, it adds:

“Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

After the news broke the price of bitcoin jumped to a new all-time high above $47,000. The move came after Tesla CEO Elon Musk changed his Twitter bio to “bitcoin” at about the same time he tweeted out “in retrospect, it was inevitable.”

Miami Mayor Working on Resolution to Add BTC to City’s Balance Sheet

Miami Mayor Francis Suarez has revealed he is working on a resolution to add bitcoin to the city’s balance sheet, and pointed out that Tesla’s announcement on buying bitcoin was “very helpful.”

The mayor said the issue would be addressed at a city commission meeting on Thursday, February 11, according to comments in response to tweets suggesting it was time for Miami to buy bitcoin.

Suarez, it’s worth noting, has been vocal about how the city should allow certain types of bitcoin transactions and invest in BTC. The resolution would be the first concrete step towards that goal.

CME's Ethereum Futures Contracts Launched

The Chicago Mercantile Exchange (CME) has launched Ethereum futures contracts on its platform, making it easier for institutional investors to gain exposure to the second-largest cryptocurrency by market capitalization.

Available data shows that a total of 77 ETH futures contracts have been traded since launch, with each contract being for 50 ETH, or about $90,000 at press time. Futures are a derivative designed to either buy or sell an asset at a specific price on a certain date in the future.

The contracts are eligible to be exchanged for physical transactions, an official announcement reads.

This means that investors will be able to exchange a position in physical ether for a position in ether futures contracts, and vice-versa. The contracts will use the CME CF ether-dollar reference rate from CF Benchmarks, a crypto indices provider approved by the Federal Conduct Authority (FCA).

HashMasks Become the Most Traded NFTs on OpenSea in a Single Week

OpenSea is the largest secondary marketplace for trading crypto collectibles and non-fungible tokens (NFTs). Users can sell and purchase collectibles and create their own marketplace to showcase new NFTs.

On January 28th, Hashmasks initial sale launched as a new set of digital art pieces created by more than 70 artists from across the globe. The next day, Hashmasks began appearing for resale on OpenSea. A total of 16,384 unique digital portraits exist - and can ever be created. 

Each of these artworks is uniquely designed to be part digital art and part digital collectible. They are all designed to possess five basic characteristics: eye color, mask, skin color, character, and an item. The NFTs come with a fungible Etheruem token that can be used to change the name of their artwork.

Suum Cuique Labs, from Zug, Switzerland is the project behind Hashmasks. They collected $13.4M in the 6 days of their initial sale.  In just a week, Hashmasks were traded 2,724 times on OpenSea at an average price of $3,300. 

These transactions add up to a total of $8.9MM in profits that went to the NFT owners, with OpenSea collecting over $200,000 in fees.

Crypto.com Exchange is listing FIL at 50% OFF

Crypto.com Exchange is listing Filecoin on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of FIL at 50% off. The event will commence on Tuesday, 23 February 6:00am UTC on the Crypto.com Exchange.

Allocation:

Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked on the Crypto.com Exchange. 

Subscription: 

• Participants will be able to subscribe for FIL by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for FIL in this event.
• Participants will need to trade the minimum volume required at their CRO staked level in the past 30 days in order to be eligible to subscribe.
• The past 30-day trading volume is calculated daily at 00:50:00 UTC. For more information regarding exact cutoff times, refer to our FAQ here.

NOTE: The trading volume can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.

Event Timeline:

• 23 Feb 6:00am UTC: Sales Begins (FIL/CRO subscription price fixed)
• 24 Feb 6:00am UTC: Sales Ends 
• 3 Mar 6:00am UTC: Acceptance Period Begins (unused CRO will be refunded immediately if you reject the allocation)
• 4 Mar 6:00am UTC: Acceptance Period Ends (CRO refunds will be distributed for forfeited participants)

Sign up for the Crypto.com Exchange, stake CRO and participate in the FIL sale!

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