Mike Novogratz is one of the early Wall Street players to get involved in cryptocurrency. His Galaxy Digital recently released it earnings and the year-over-year shows significant gains.
The firm has a net income of $517 million, compared to $41.5 million a year ago.
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What can Eric Adams do? The limits of turning New York City into a crypto hub
The Mayor-Elect of New York City got a lot of headlines with his idea to turn that city into a crypto-hub. This garnered the attention of the entire crypto community and even pushed the release of the NYCCoin.
Unfortunately, the Mayor’s office is just one entity that oversees the financial regulation, and not a very powerful one. There are other aspects of the city government the Mayor will have to contend with when he takes office.
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Nasdaq-listed Bitcoin mining firm Marathon to raise $500M in debt
Bitcoin miner Marathon might be following in the footsteps of Microstrategy. The firm is reportedly going to raise $500 million in a debt offering to buy Bitcoin and miners in an effort to increase the firm’s profitability.
This is similar to what Microstrategy employed when it turned to debt markets to enable it to buy more Bitcoin.
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VanEck Bitcoin Futures ETF Will Debut on Cboe
VanEck had its application for a Bitcoin spot ETF turned away. The firm will not tangent by offering a Bitcoin futures ETF. This is in line with the other Bitcoin ETFs that the SEC approved.
This will go live November 16th on CBOE. There is still no word on when the SEC will approve a Bitcoin based upon spot price. Grayscale has an application in that is due to be ruled upon next month.
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