1) SkyBridge Capital proposes to launch Bitcoin Funds.

SkyBridge Capital, Anthony Scaramucci’s billion-dollar hedge fund has filed with the SEC to launch its own Bitcoin fund named SkyBridge Bitcoin Fund L.P. with Scaramucci being the manager of the fund. If the proposal gets approved then a lot of institutional investors will get exposure to Bitcoin through this fund. 

2) Argentina sees a spike in the number of people buying and holding Bitcoin.

In Argentina, the bad public policies have taken things to a crisis level and the coronavirus outbreak has forced the citizen of Argentina to turn to Bitcoin to store value as explained by Maximiliano Hinz, Binance’s director of operations for Latin America. Binance has also seen a 5 times increase in people operating in Binance from Argentina as compared to 2019. Maximiliano Hinz said 

From January to today, the number of Argentinean users in Binance has multiplied by five. But this was not the case in all platforms. If we talk about a market average, we could say that the number of users grew by 300% this year

3) Riot Blockchain hash rate to increase by 65%.

Riot Blockchain, a cryptocurrency mining company has purchased 15,000 Antminers which is expected to increase the hashtag rate by 65%. This purchase has cost $35 million to the company which includes 3,000 S19 Pro Antminers and 12,000 S19j Pro Antminers. Riot CEO Jeff McGonegal said 

Expanding the Company’s bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the bitcoin spot price has appreciably increased.

4) Huobi makes a return to the US with Huobi Trust.

Huobi, a major global crypto exchange by Huobi Group is returning to the US as a Trust. Huobi announced

Huobi Trust Company (the “Huobi Trust”), a company incorporated in the State of Nevada, the United States and an indirectly wholly owned subsidiary of the Company, was recently issued with a Trust Company License by the Financial Institutions Division of the Department of Business and Industry in Nevada, the United States, to engage in the trust company business within the meaning of Chapter 669 of the Nevada Revised Statutes and the rules and regulations thereunder.

5) Bitmain co-founders Jihan Wu and Micree Zhan have reached a settlement.

Bitmain co-founders Jihan Wu and Micree Zhan have finally reached a settlement where JihanWu will leave the company taking the BTC.com mining pool as well as Bitmain’s overseas mining centers. Micree Zhan will get the Antpool mining pool and Bitmain’s China-based mining farms. Zhan will have to mortgage his shares to give Jihan Wu $600 million in compensation. Sequoia Capital will help both the parties to negotiate the terms of the settlement that may change in the future.


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