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Crypto Market Highlights February 5, 2022

Crypto Market Highlights February 5, 2022 .

Manchester United & Tezos, Marathon Mining 816% up Bitcoin and more news in the last 24 hours.

Crypto Market Highlights: Investment News – Collaboration

Soccer giant Manchester United has agreed to a multi-year sponsorship of its training kits with blockchain platform Tezos (XTZ), The Athletic reported, citing no one. The deal is worth more than £20m ($27m) a year and United filmed promotional materials at the club’s training center ahead of the announcement, he added.
Cryptocurrency platform Blockchain.com has announced a multi-year partnership with esports organization Cloud9 to foster a financially and crypto-savvy dialogue in the esports community. As part of the partnership, Blockchain.com will receive Cloud9’s community visibility and logo placement on all league team jerseys and its digital channels.
The memecoin project BabyDoge (BABYDOGE) and the Bundesliga soccer club TSG Hoffenheim have announced an advertising partnership. The partnership will focus on the TSG Hoffenheim fan NFT as well as key promotional materials and other promotional tools and co-branded content.
Qredo, a Layer 2 infrastructure for custody and settlement of digital assets, has reportedly raised $80 million in a Series A round led by 10T Holdings with participation from Coinbase Ventures, Avalanche and Terra, among others . The Series A raise, they added, takes Qredo’s value to $460 million. The startup says it will use the funds for acquisitions, further develop Qredo functionality for retail users, and facilitate its geographic expansion.
Crypto forensics firm Chainalysis says it has acquired Abaxx, a government consulting firm. The acquisition will help Chainalysis enhance its offering to government agencies by building on Abaxx’s expertise in large-scale data analysis, lead generation and investigative services, the company added.

Crypto Market Highlights: Stock Market News

Binance CEO Changpeng “CZ” Zhao warned that “there is a massive SMS scam with an abandon link” and “it leads to a phishing website to get your credentials.”

Coinbase gives users the ability to receive tax refunds in crypto via TurboTax, where users can choose to have their refunds deposited in one of 100+ cryptocurrencies.

Bitstamp announced it will open an office in Amsterdam as the next step in its global expansion. The Amsterdam Center is Bitstamp’s fourth global facility after offices in Slovenia, Luxembourg, New York and Singapore.

Luno, Africa’s largest crypto exchange, is gaining a foothold in the US, according to Bloomberg. The exchange is evaluating regulatory regimes in all 50 states to allow for rollout later this year, she added.

Crypto Market Highlights: Mining News

US-based Marathon Digital Holdings said it produced 462.1 Bitcoin (BTC) for self-mining in January, or 816% year over year. Additionally, the company said it increased its total Bitcoin holdings to about 8,595 BTC “with a fair market value of about $330.6 million.”

Data management company Sphere 3D, which is merging with bitcoin miner Gryphon Digital Mining in a special purpose entity (SPAC) acquisition, has signed an agreement with the machine manufacturer that will allow NuMiner Technologies to purchase 60,000 NM440 machines for US$1.7 billion. uses dollars.

Galaxy Digital has announced a “sustainability program” to improve the company’s energy use and social impact. According to Galaxy, the program will help the company meet its goal of “over 80% sustainable power mix in mining operations,” a metric it achieved late last year.

Crypto Market Highlights: News on new products and services

Miami Mayor Francis Suarez has announced that the city has received its first crypto payment of $5.25 million from the CityCoins project. He added that the goal is to generate resources for the city “through innovation, not through taxes.”

Myanmar’s military government is planning to launch its own digital currency, a few months after the country’s shadow government started accepting Tether (USDT) as its official currency, Bloomberg reports. Deputy Information Minister Maj-Gen Zaw Min Tun said:

Japanese trader Mitsui & Co. is planning to launch a digital token linked to the price of gold earlier this month, reports Nikkei Asia. The token, dubbed ZipangCoin (ZPG), will be sold to retail investors and pegged to the price of gold in yen.

Crypto Market Highlights: Regulatory News

A bipartisan group of representatives from the U.S. House of Representatives has reinstated a 2021 bill “to ensure that digital asset reporting requirements under current law are consistent with technology operations.”

Crypto Market Highlights: CBDCs News

The Federal Reserve Bank of Boston and the MIT Digital Currency Initiative have released open-source research software in support of a central bank digital currency (CBDC). The published study describes a theoretically flexible and powerful transaction processor for a CBDC.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.