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Bitcoin is eating the world to SBI acquiring crypto trading firm B2C2

Bitcoin is eating the world to SBI acquiring crypto trading firm B2C2

1) ‘Bitcoin is eating the world…’ – Raoul Pal.

Charlie Bilello, founder and CEO of Compound Capital Advisors had shared in a tweet the data complied by YCharts which provides information about Bitcoin returns versus macro asset returns. As per the data, a Bitcoin investment made in 2011 has given 6,271,233%. return. We can also conclude from the data that the next best bet has been the Nasdaq with a 512% return. Raoul Pal, investment strategist also tweeted

Bitcoin is eating the world

2) Robert Leshner believes that CeFi will embrace DeFi.

Robert Leshner, Compound Finance founder when asked about DeFi’s integration with CeFi (centralised finance) at Redefine Tomorrow, Global DeFi and Blockchain Virtual Summit by the host Mukaya Panich expressed that CeFi will embrace DeFi. Leshner said

I’m really excited about seeing CeFi systems embracing DeFi back end operations. The more transactions, the more it will crowd out small balances

When questioned about Defi’s advantages and disadvantages Robert Leshner said the advantage is that it is impossible for a single entity to maliciously ruin the protocol and that anybody can contribute to the collective upgrading of a protocol whereas the disadvantage is that it slows down the governance decisions and modifications.

3) Bitcoin leaves gold behind in the list of ‘most crowded trade’.

A new survey of global fund managers conducted by Bank of America Merrill Lynch shows that investors are now interested more in Bitcoin than traditional investments like gold and bonds. As per the survey, 52% of survey respondents feel that Long Tech is the ‘most crowded trade’ whereas 15% feel that it is Bitcoin. In this survey, 217 fund managers collectively responsible for $534 billion in assets had participated.

4) Sandie O’Connor joins Ripple’s board of directors.

Sandie O’Connor who was chief regulatory affairs officer at JPMorgan Chase will be joining Ripple. She will provide counsel on key government relations and regulatory initiatives. Brad Garlinghouse, Ripple CEO said

Sandie is extremely well-respected by her peers on Wall Street and the regulatory community alike. Her extensive network and in-depth understanding of markets, capital flows and banking will provide valuable and unique insights as new policies and regulations take shape across the U.S. The U.S. needs a single clear regulatory framework for crypto that levels the playing field and supports American innovation and companies. Sandie’s experience and guidance will support us on our journey to building a more inclusive financial system.

5) SBI acquires a 90% stake in B2C2 a crypto trading firm.

SBI Financial Services has acquired United Kingdom-based crypto trading firm B2C2. On November 16, SBI announced

We are pleased to inform you that the approval procedure, has been completed, and on December 15, 2020, the Company acquired a 90% stake in the company and made it a subsidiary.

With this acquisition, SBI aims to bring more trading opportunities for mainstream financial firms looking to invest in crypto. Max Boonen, founder and CEO of B2C2 believes that 2020 has proved that crypto assets are not negligible in the financial industry. Boonen also added

Crypto assets can have an increasing impact on the financial market in the next decade and we are proud to be at the forefront of this evolution in SBI.


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