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The analysts said they saw no apparent “lead effect” from bitcoin (BTC) to S&P 500 index futures. The recent weakness in bitcoin and equities appears “contemporaneous,” according to the report. Still, given the existing poor sentiment in equities, the fall in crypto markets doesn’t help, it said. Original Source
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Crypto trading engineering firm Talos has raised $105 million in Series B funding led by U.S. financial services giants Citi, Wells Fargo and BNY Mellon among the new investors. Source
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For an income-focused strategy, Motus sees a “mismatch” between funding digital assets versus traditional finance. “Global banks have so much cash they pay zero or less for deposits. Meanwhile, the stablecoin market cap has quintupled since 2021, and investors still command high-single to double-digit returns for dollars or dollar-pegged assets.”
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Citi is the latest banking behemoth to give an optimistic forecast for the metaverse, which envisions the internet’s future as a collection of decentralized technology and virtual environments. According to the New York-headquartered global investment bank, the metaverse economy may be worth up to $13 trillion by 2030. While some remain suspicious
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The total addressable market (TAM) for the metaverse economy could be between $8 trillion to $13 trillion by 2030, with up to five billion users, but getting to that market level is going to require sizable infrastructure investment, Citi said in a report on Thursday. Original Source
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Regarding the hiring of Peurifoy, Zhang said that “Sam brings a unique combination of deep knowledge of the play-to-earn space, close relationship with the community and a real passion for gaming and the metaverse. With Algorand as our first strategic partner, we have a very exciting roadmap on our play-to-earn
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A Wall Street veteran with over 14 years of experience has launched a new venture fund dedicated to cryptocurrency and blockchain startups, offering further evidence that smart money investors are pivoting to the emerging world of digital assets. On Monday, former Citi executive Matt Zhang introduced Hivemind Capital Partners, a $1.5
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Global banking powerhouse Citi is hiring 100 people to beef up its blockchain and digital assets division, according to a source familiar with the bank’s plans.Citi has also made Puneet Singhvi head of digital assets for the institutional clients group (ICG) at Citi as of Dec. 1, according to a
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“For its position within the crypto value chain, a `networking-based’ business model and strategy, the undeniably very large opportunity set … yes, we believe COIN is investable,” analyst Peter Christiansen wrote in a report dated Oct. 26. Investors should “buy crypto’s general store.” Original Source
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Companies including Disney, video game publisher Electronic Arts and Robinhood Markets are expected to benefit from non-fungible tokens (NFTs), according to a new report from Citi.“The advent of NFTs promises significant disruption to any/all sectors with exposure to IP (intellectual property), licensing and merchandise related revenues,” Citi analyst Thomas Singlehurst
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