Coinbase's IPO / ECB releases results of CBDC report / Fresh Funding

Plus: Former MIT blockchain professor Gary Gensler is confirmed as new SEC Chairman

Inside.com Part of   Network April 14, 2021

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The global crypto market cap is $2.18T -0.07%▼ with a 24hr market volume of $225.39B 20.41%▲. Bitcoin's dominance is currently 53.61% -0.33%▼.  CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $62,031.47 2.24%▼ 2 Ethereum ETH $2,335.97 1.26% ▲ 3 Binance Coin BNB $531.89 -4.20%▼ 4 XRP XRP $1.70 -8.91% ▼ 5 Cardano ADA $1.40 -1.12%▼ *Prices as of 3:30 p.m. ET.

Coinbase (COIN), the largest cryptocurrency exchange in the U.S., listed directly on the NASDAQ today. It is expected to be the biggest tech offering since Facebook went public in 2012. More: Coinbase saw $322M in profits last year with $1.2B in revenue in 2020. In Q1 of 2021, the company announced profits of almost $800M and revenue around $1.8B. Coinbase was initially valued at 1,500,000 BTC (~$100B or $250/share), based on the 261M shares of common stock disclosed to the SEC on Monday. This morning, indicators showed Coinbase would begin trading around $343.58/share. That number has since changed to $375/share, a 50% increase from the NASDAQ and Goldman Sachs’ initial reference price. At the value of $100B, Coinbase is one of the most valuable exchanges in the world. Its nearest competing exchange is the NYSE. Pre-public trading on crypto-exchange FTX had shares trading as high as $600 but has since settled to around $463. Coinbase recently told Decrypt that it is considering NFTs as an alternative revenue source on the platform.

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The European Central Bank released the findings of a public consultation on the digital euro. The initiative received the largest participation of any public consultation by the Bank to date, with over 8,200 respondents. More: Participants who identified themselves as EU citizens stated that privacy, security, usability, and fees were their biggest concerns for the project. 43% of all participants stated that privacy would be the most important feature for a digital euro. User privacy has been the most cited issue with CBDCs, with countries like the U.S. stating that they will not move forward with the idea until privacy issues could be resolved. The European Central Bank president, Christine Lagarde, stated in the report that approval and subsequent adoption of a CBDC in the EU could take as long as four years.

▲ TOP GAINERS # Name Price 24h % 1 Dogecoin DOGE $0.1135 25.08% ▲ 2 VeChain VET $0.1646 14.81% ▲ 3 Bitcoin SV BSV $324.59 10.59% ▲ 4 Elrond EGLD $231.94 8.59% ▲ 5 Bitcoin Cash BCH $802.57 7.38% ▲ ▼ TOP LOSERS # Name Price 24h % 1 TRON TRX $0.1349 -11.26%▼ 2 Solana SOL $25.22 -10.33%▼ 3 BitTorrent BTT $0.00748 -9.81%▼ 4 Stellar XLM $0.606 -9.18%▼ 5 XRP XRP $1.70 -8.91%▼ *Limited to cryptocurrencies with a market cap >$4B. Prices as of 3:30 p.m. ET.

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🍋 FRESH FUNDING 🍋 Gryphon, Bitcoin Mining: $14M. Gryphon successfully raised $14M in a Series A fundraising event to help fund the launch of their zero-carbon footprint Bitcoin mining operation. Polygon, Ethereum Scaling: $40M. Polygon raised $40M in lending and borrowing rewards, currently represented in their native token MATIC. Polygon has seen previous success in its DeFi lending protocol Aave. It plans to use the newly raised funds to launch a liquidity mining program with Aave.

QUICK HITS: See where over 1 million people are finding a new home for their investments.* The U.S. Senate has confirmed Gary Gensler as the new SEC Chairman. Gensler was previously a professor at MIT. He had students read the bitcoin whitepaper and taught courses on blockchain technologies and fintech regulation. Binance partnered with the publisher of Vogue Singapore to build an NFT platform centered around music, art, and fashion.  PayPal CEO Dan Schulman expects $200M volume in PayPal’s crypto commerce over the next few months. XRP hits a three-year high as Ripple has moved to dismiss its lawsuit with the SEC Lockheed Martin has signed an agreement with distributed manufacturing platform SnycFab to develop blockchain technology for Switzerland’s supply chain management. The revolutionary biotech company is disrupting a $180B industry with a new breakthrough. Learn how you can invest.* *This is a sponsored post.

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Charlotte Hayes-Clemens is an editor and writer based in Vancouver. She has dabbled in both the fiction and non-fiction world, having worked at HarperCollins Publishers and more recently as a writing coach for new and self-published authors. Proper semi-colon usage is her hill to die on.

Find out how Cytonics is changing the future of joint relief through biotechnology.

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