Goldman Sachs has executed its first over-the-counter crypto options trade, making it the first major U.S. bank to trade cryptocurrencies over the counter. The firm traded a non-deliverable Bitcoin option, a derivative tied to Bitcoin’s price that pays out in cash.
The world’s largest hedge fund, Bridgewater Associates, is reportedly planning to back its first cryptocurrency fund. The fund, with over $150 billion in assets under management, is not planning to directly invest in cryptoassets itself.
Ethereum’s burning mechanism, introduced in the London hard fork through EIP-1559, has so far destroyed over 2 million ETH tokens, worth nearly $6 billion. The mechanism came as part of a restructure to the network’s fee system.
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Top stories in the Crypto Roundup today:
- Goldman Sachs Conducts OTC Crypto Options Trade
- World’s Largest Hedge Fund to Back Crypto Fund
- 2 Million ETH Has Been Burned Ahead of Ethereum 2.0 Rollout
- Chart of the Week: Monthly RUB/UAH Volume-Share
- CCDAS Summit - Get 10% Off for Being a Loyal Reader