Nasdaq-listed cryptocurrency exchange Coinbase has revealed it’s expanding its prime brokerage services offering to institutional clients with a unit that ties custody, data, data analytics, and other amenities together.

MicroStrategy CEO Michael Saylor has defended the recently formed Bitcoin Mining Council, saying it was born to help shape the narrative around the flagship cryptocurrency’s energy use.

Crypto fund manager One River filed a bitcoin exchange-traded fund (ETF) registration with the U.S. Securities and Exchange Commission (SEC). It proposed the listing of a carbon-neutral bitcoin ETF on the New York Stock Exchange.

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 Expands Prime Brokerage Services to Institutional Clients
• Bitcoin Mining Council to ‘Defend’ BTC Against ‘Uninformed’ Energy Critics
• Crypto Fund Manager One River Files Prospectus for Carbon Neutral Bitcoin ETF
• Daily Movers – MATIC, LINK, VET
• Sponsored: Learn More About Invictus Capital's $10,000 Giveaway

Coinbase Expands Prime Brokerage Services to Institutional Clients

Nasdaq-listed cryptocurrency exchange Coinbase has revealed it’s expanding its prime brokerage services offering to institutional clients with a unit that ties custody, data, data analytics, and other amenities together.

Coinbase Prime will offer institutional clients access to pricing on 12 different regulated exchanges including Coinbase, as it looks to function as an umbrella of services ranging from smart-order routing to detailed trade cost analysis reports.

The exchange had more than 8,000 institutional clients with around $122 billion worth of assets on its platform at the end of March and generated between 5% and 7% of its revenue from institutional clients. Its head of institutional sales, trading, custody, and prime services Brett Tejpaul was quoted saying:

“It opens the door for institutions clustering more and more of their services through us.”

Coinbase’s prime brokerage expansion comes after it acquired institutional crypto broker Tagomi last year and institutional custody firm Xapo in 2019.

Bitcoin Mining Council to ‘Defend’ BTC Against ‘Uninformed’ Energy Critics

MicroStrategy CEO Michael Saylor has defended the recently formed Bitcoin Mining Council, saying it was born to help shape the narrative around the flagship cryptocurrency’s energy use.

Saylor said he worked with Tesla CEO Elon Musk and a few North American bitcoin miners to create the organization so it could publish energy usage data in a bid to address environmental concerns surrounding cryptocurrency mining. He said:

“It became pretty clear that bitcoiners have a good story, but it’s a pretty complicated story and we need to find a way to share our story.”

He added that as the industry doesn’t share energy consumption data, it allows other parties to create their own less flattering models. Some critics, however, likened the creation of the Bitcoin Mining Council to the controversial New York Agreement of 2017, a closed-door meeting that sought to influence how BTC would scale.

The organization’s founding members represent an estimated 10% of bitcoin’s hashrate, as most of the mining power securing the Bitcoin network comes from machines in China.

Crypto Fund Manager One River Files Prospectus for Carbon Neutral Bitcoin ETF

Crypto fund manager One River filed a bitcoin exchange-traded fund (ETF) registration with the U.S. Securities and Exchange Commission (SEC). It proposed the listing of a carbon-neutral bitcoin ETF on the New York Stock Exchange.

The ETF would leverage the spot price of carbon credits to offset calculations tethered to bitcoin’s energy consumption if approved. It would hold BTC and offer investors direct exposure to it on a “carbon neutral basis.”

One River would, as such, provide  an index “constructed using bitcoin price feeds from eligible bitcoin spot markets and volume-weighted median price average (“VWMP”), calculated over 20 intervals in rolling three-minute increments with adjustments to reflect the current spot price of carbon credits necessary to offset the estimated carbon footprint attributable to each bitcoin.”

The filing comes amid conversations within the industry regarding bitcoin’s energy consumption that started after Tesla stopped accept BTC payments over environmental concerns.

Daily Movers – MATIC, LINK, VET

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Polygon (MATIC) - Matic provides scalable, secure, and instant transactions using sidechains based on an adapted implementation of Plasma framework for asset security and a decentralized network of Proof-of-Stake (PoS) validators.

Chainlink (LINK) - Chainlink is a blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, various web APIs, and traditional bank account payments.

VeChain (VET) - VeChain’s Blockchain-as-a-Service ("BaaS") platform is called ToolChain. ToolChain is a comprehensive blockchain platform offering diverse services including product lifecycle management, supply chain process control, data deposit, data certification, and process certification.

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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