Nasdaq-listed cryptocurrency exchange Coinbase has launched a new downloadable Coinbase Wallet browser extension that makes it easier for users to connect to decentralized applications and the decentralized finance (DeFi) space on desktop devices.

Investors have redeemed some $50 million from cryptocurrency funds as the price of bitcoin tumbled last week. These were the first net redemptions of the year.

Cryptocurrency-focused financial services firm Galaxy Digital has revealed its assets under management (AUM) increased 58% in the first quarter of the year, and its net comprehensive income grew from $$336 million last quarter to $860 million.

Sponsored: Invictus Capital, the alternative investment firm offering a range of dollar-denominated backed blockchain-based investment funds, has so far offered investors unparalleled returns. In the last year the top-performing funds, Crypto20 and Crypto10 Hedged, have achieved an increase of 979% and 441% respectively, and the Invictus Margin Lending (IML) fund boasted an industry-leading performance of 20% APY.

Top stories in the Crypto Roundup today:

• Coinbase Launches Browser Extension to Improve DeFi Access
• Investors Redeem $50 Million From Crypto Funds
• Galaxy Digital’s Assets Under Management Increase 58% in Q1
• Sponsored: Learn More About Invictus Capital's $10,000 Giveaway

 

Coinbase Launches Browser Extension to Improve DeFi Access

Nasdaq-listed cryptocurrency exchange Coinbase has launched a new downloadable Coinbase Wallet browser extension that makes it easier for users to connect to decentralized applications and the decentralized finance (DeFi) space on desktop devices.

In an announcement, the firm revealed over a million Coinbase Wallet users regularly engage with decentralized applications like Uniswap and Compound, but have to access these on desktop devices through a “tedious process” that requires them to scan a QR code with their mobile device each time they access the dapps.

The new extension, the post reads, allows users to access decentralized applications on desktops.

“This includes accessing thousands of cryptocurrencies, trading on decentralized exchanges (DEXes), earning interest and collecting NFTs. You can also link your Coinbase account to Wallet and buy or transfer crypto to use in DeFi, without leaving Wallet.”

The company added the extension is part of its goal of making DeFi more accessible to ordinary users.

Investors Redeem $50 Million From Crypto Funds

Investors have redeemed some $50 million from cryptocurrency funds as the price of bitcoin tumbled last week. These were the first net redemptions of the year.

Data shows outflows from bitcoin-focused funds totalled a record $98 million in the seven days through May 14, even as other investment products focused on cryptocurrencies continued to see inflows.

The redemptions represent a fraction of the $5.6 billion that entered cryptocurrency funds last year, but shows how quickly some investors may retreat as the price of BTC starts pulling back. Demand for other cryptoassets has, however, continued to rise.

Investor demand for products focused on Ethereum has totalled $27 million last week, making it the first month ETH investment products had a larger trading volume than BTC products.

Galaxy Digital’s Assets Under Management Increase 58% in Q1

Cryptocurrency-focused financial services firm Galaxy Digital has revealed its assets under management (AUM) increased 58% in the first quarter of the year, and its net comprehensive income grew from $$336 million last quarter to $860 million.

The firm’s counterparty loan originations increased by 510% over the same period. The Toronto Stock Exchange-listed firm, run by Michael Novogratz, also announced an agreement to buy BitGo, a U.S.-regulated crypto custody firm, for $1.2 billion in stock and cash. The acquisition is expected to close in Q4. Novogratz said in a statement:

“Beyond delivering dramatic organic growth, we announced we will acquire BitGo, which will establish Galaxy Digital as the first full-service digital asset financial platform for institutions and ensure our business is aligned with broader institutional adoption.”

The firm launched the CI Galaxy Bitcoin ETF (TSX:BTCX) recently, as well as the Galaxy Ethereum Funds. Earlier this year, Morgan Stanley started offering its wealth management clients access to a number of its funds.

Uniswap’s Total Liquidity Briefly Surpasses $1 Billion

Welcome to the first edition of the Uniswap Dashboard Debrief! We’ll be taking a closer look at the data behind Uniswap V3. In this edition, we’re focusing on the total value locked on the platform.

Total Value Locked represents the amount of assets that are currently being staked in a specific protocol. As you can see in the chart, Uniswap V3 TVL hit its current all-time high at roughly midday Eastern Time in the U.S. on Friday, May 14, as total liquidity topped 1 billion at 11 AM and remained over that milestone for roughly 2 hours before dropping — hard.

By 2 PM the same day, TVL had fallen to just over 750 million, its lowest level in roughly two days. TVL rose quickly again later that day before seeming to stabilize at between 800 million and 1 billion.

Learn More About Invictus Capital's $10,000 Giveaway

Invictus Capital, the alternative investment firm offering a range of dollar-denominated backed blockchain-based investment funds, has so far offered investors unparalleled returns. In the last year the top-performing funds, Crypto20 and Crypto10 Hedged, have achieved an increase of 979% and 441% respectively, and the Invictus Margin Lending (IML) fund boasted an industry-leading performance of 20% APY.

The total assets under management (AUM) of funds managed by the company's team of veteran investment professionals peaked at $112 million in February, and ended the quarter at just over $100 million — a 50% growth over the quarter. The InvictusCapital.com token (ICAP), which allows loyal investors the chance to share in Invictus Capital’s success, has appreciated over 400% since its launch in Q1 this year. 

As part of the company’s broader plan to become a global leader in alternative asset investing, Invictus has integrated Binance Smart Chain based assets for fund investments. This integration solves the pain of high fees associated with using Ethereum and Bitcoin.

To celebrate the newly launched Binance Smart Chain (BSC) feature, a $10,000 giveaway will be distributed randomly to ten lucky users. 

The promotion starts on 30 April 2021 and ends on 31 May 2021 at 11:59 GMT and it’s not available to U.S. residents. Read more about the promotion rules here.

Disclaimer:

Cryptocurrency trading involves high risk, and is not suitable for all investors. Before deciding to trade cryptocurrencies, tokens or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite.

Its content does not constitute financial advice. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.

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