Daily Crypto News

1. You Can Still Diversify Your Portfolio with Bitcoin — Even After the Crypto Crash — Bitcoin’s role as a hedge against stocks has been largely debunked. But analysts say that crypto still has a valuable role in portfolio diversification.
2. Crypto lender Nexo introduces spot, futures trading — The London-based crypto platform aims to offer retail clients access to institutional-grade aggregated liquidity with no minimum funding requirements, the company said in a statement.
3. GameStop stock jumps 12% after retailer’s narrower quarterly loss, crypto deal — GameStop Corp. stock rallied more than 11% in the extended session Wednesday after the specialty retailer reported a narrower-than-expected quarterly loss and announced a partnership with cryptocurrency exchange FTX.
4. Fed Vice Chair Brainard Calls for Crypto-Specific Regulations, Notes Stablecoin Risks — Brainard is leading the central bank’s exploration of a digital U.S. dollar, and her role as the №2 person at the Fed makes her opinions on crypto quite significant. Brainard’s latest remarks echoed her previous statements that the sector needs to meet the same safety standard as traditional finance in order to prevent it from becoming a threat to the broader financial system.
5. Hawkish Fed Chatter Has Wall Street Betting on Big Rate Hike, Crypto Traders Shorting Bitcoin — “We are in this for as long as it takes to get inflation down,” Fed Vice Chairwoman Lael Brainard said Wednesday in a speech at a banking conference in New York.
6. Crypto Oversight Should Resemble Traditional Bank Rules, Fed Official Says — Michael Barr, the former Ripple Labs adviser and Michigan University law school dean who is now the U.S. Federal Reserve’s vice chairman for supervision, said crypto activities need greater regulatory oversight.
7. Swan Bitcoin Moves Into TradFi With Platform for Financial Advisors — Swan Advisor Services users can transact and manage their clients’ bitcoin positions on the platform, as well as access educational content to help onboard clients new to crypto. All tokens are custodied by crypto firm Prime Trust.
8. US Bank Watchdog Says He’s Not Budging on Crypto Distrust — Michael Hsu, the acting chief of the banking agency for most of President Joe Biden’s administration, is critical of crypto and had been quick to reverse course for the agency, which under previous management was the most welcoming corner of the federal government for digital assets.
9. Bitcoin Miner CleanSpark Buys 10K New Machines for $28M After Discounts, Credits — The mining rigs were purchased from hardware broker Cryptech Solutions for about $28 per terahash (Th), according to a Wednesday press release, versus the $96/Th marked on the manufacturer’s website, on which they are sold out. Mining rig prices are often noted in dollars per terahash, a measure of computing power, instead of the machine price.
10. Elon Musk Dogecoin lawsuit heats up with new parties joining —The US$258 billion lawsuit filed against Tesla CEO Elon Musk by an American Dogecoin investor, accusing him of running a Dogecoin cryptocurrency pyramid scheme, is heating up as new players are summoned in the case.

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