India to ban crypto as a payment method, but regulate as an asset
India will ban the use of cryptocurrencies for making payments but will allow and regulate the trading of crypto as assets. India will also ban solicitation from crypto firms such as ads. The government plans to present a crypto regulation bill in the parliament’s winter session.
One-Fourth of Fund Managers Expect Bitcoin Price Over $75k in 12 Months: BofA Survey
According to a Bank of America survey of global fund managers, one-fourth of fund managers think that Bitcoin will hit the $75,000 mark in a year. In October, only around 10% of fund managers named bitcoin as the “most crowded” trade. The survey includes 345 fund managers from around the world, whose total funds under management are over $1 trillion.
Bitcoin and Ethereum see a sharp fall
Bitcoin has fallen below $60,000 after breaking the key supports. Meanwhile, Ethereum is now below $4200. The possible reason could be Biden’s infrastructure bill that contains tax provisions. China’s anti-mining stance also could have contributed to the fall.
After Dogecoin and Shiba Inu, a new dog-themed cryptocurrency has rallied 67,000% in 24 hours. Experts and analysts of the matter advised investors to be careful trading HuskyX as the liquidity is negligible and the transaction fee is high.
Binance CEO advocates for fundamental crypto rights
Crypto exchange Binance has published a list of “fundamental rights” amid increasing regulatory pressure, arguing everyone should have access to financial tools like crypto. The CEO added that they keep KYC mandatory and will continue to do so. He said that they lose only 3% of the customers by sticking to KYC.
Coinbase co-founder launches $2.5 billion crypto venture fund
San Francisco-based investment firm Paradigm is starting a $2.5 billion venture-capital fund aimed at the next generation of crypto companies and protocols. Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang’s Paradigm One would be the largest new venture-capital fund aimed at the industry. The size of Paradigm’s fund highlights a continuing boom in the crypto industry.