Crypto Biz: Another billionaire admits he was wrong about Bitcoin, Feb. 25-Mar. 3

After spending years ridiculing Bitcoin and cryptocurrency, Wall Street’s billionaire people is yet warming up to the thought of virtual assets powering the integer economy. This week, Citadel laminitis and billionaire Ken Griffin formally backtracked connected his anti-crypto stance arsenic helium announced that his steadfast would statesman offering integer assets to its clients. Of course, Griffin isn’t the lone affluent capitalist to person a alteration of heart, truthful we’re not going to bust his chops excessively much.

So, portion crypto analysts proceed to statement astir whether we are successful a bull oregon carnivore market, institutions, task capitalists and mean radical proceed to follow integer assets. As we spot successful Eastern Europe, trustless wealth similar Bitcoin offers a unsocial worth proposition successful times of geopolitical uncertainty and conflict.

Billionaire admits helium was incorrect astir Bitcoin arsenic Citadel looks to crypto markets

Citadel Securities, the multi-billion dollar hedge money manager, will soon beryllium offering cryptocurrency investments aft institution laminitis Ken Griffin admitted helium was incorrect astir the plus class. “It’s just to presume that implicit the months to come, you volition spot america prosecute successful making markets successful cryptocurrencies,” helium told Bloomberg Wealth successful an interview. It was not adjacent 5 years agone that Griffin was informing radical astir Bitcoin being a monolithic bubble akin to Tulip mania successful the 1600s. I uncertainty anyone is earnestly comparing Bitcoin with the Dutch tulip bubble anymore, but if you inactive person doubts, read this article.

DCG announces $250M stock repurchase for Grayscale products

Digital Currency Group, amended known arsenic DCG, has announced it volition repurchase up to $250-million worthy of shares for respective Grayscale concern products — chiefly the Litecoin, Zcash and Horizen Trusts. Although the task superior steadfast didn’t specify wherefore it was repurchasing shares, CEO Barry Silbert tweeted separately connected March 2 that his steadfast is progressively bullish connected the market. “Bitcoin is looking good,” helium said, adding that, “We’re buying.” (It’s not rather wide what this means, but Bitcoin’s spike supra $45,000 amid geopolitical unrest astir apt has thing to bash with the favorable assessment.)

Digital Currency Group Announces $250 Million Share Repurchase Program for Grayscale® Litecoin Trust (OTCQX: $LTCN), Grayscale® Horizen Trust (OTCQX: $HZEN), Grayscale® Zcash Trust (OTCQX: $ZCSH), and different Grayscale Products https://t.co/zKoEWkfyk1

— Barry Silbert (@BarrySilbert) March 2, 2022

Payment services supplier Shift4 acquires The Giving Block for $54 million

Payment solutions supplier Shift4 this week announced the acquisition of crypto donations level The Giving Block for $54 million. The deal, which was paid for successful currency and stock, has a imaginable earnout of up to $246 million. Crypto-based philanthropy was backmost successful the spotlight this week aft the Ukrainian authorities and charities linked to it received much than $37 cardinal successful integer donations, chiefly done Bitcoin (BTC), Ether (ETH) and Tether (USDT). The Giving Block besides launched a Ukraine exigency money allowing crypto holders to donate to the alleviation efforts amid the ongoing struggle with Russia.

— The Giving Block (@TheGivingBlock) February 26, 2022

South Korean crypto marketplace grows to $45.9B successful 2021 contempt strict regulations

If you’ve been successful crypto agelong enough, you cognize that South Korea is 1 of the astir vibrant markets for trading integer assets. We yet person immoderate numbers to backmost it up: Earlier this week, South Korea’s Financial Service Commission reported that the country’s cryptocurrency market grew to $45.9 billion, oregon 55 trillion won, by the extremity of 2021. South Korea’s 21 regulated exchanges collectively processed an mean of $9.4-billion worthy of trades per day. Even with stringent crypto regulations, South Korea continues to beryllium a hotbed of manufacture activity. Surprise, surprise, regulators are present turning their attraction to nonfungible tokens, putting South Korea connected way to go 1 of the archetypal countries to contented NFT taxation regulations.

Before you go!

There has been a batch of buzz precocious astir decentralized autonomous organizations, oregon DAOs. As we reported past month, the Republic of the Marshall Islands has go the archetypal jurisdiction to formally admit DAOs arsenic ineligible entities. In this week’s The Market Report, Cointelegraph analysts engaged successful a affable statement astir the astir promising DAOs for 2022. If you missed the unrecorded show, you tin inactive drawback the replay below. Be definite to drawback The Market Report each Tuesday astatine 12:00 p.m. ET for updates, investigation and a unrecorded statement astir each things crypto!