Everstake, a global non-custodial staking platform, has appointed David Kinitsky as CEO to drive institutional growth and global expansion. Kinitsky, with experience at Grayscale, Kraken, and Fidelity, replaces founder Sergii Vasylchuk, who becomes President. The leadership change comes as staking gains traction among institutional investors and regulators provide clearer guidelines. Everstake, which supports 85+ blockchain networks and secures $6.5B in delegated assets, aims to scale its infrastructure and expand into adjacent opportunities like data and financial products. Kinitsky’s regulatory expertise positions Everstake to navigate evolving compliance requirements while maintaining its decentralized ethos. The company, profitable since inception, emphasizes its commitment to compliant, transparent staking solutions as the industry matures.
about Everstake Appoints David Kinitsky as CEO to Boost Institutional GrowthFidelity Investments
0 in Finance and 0 in Crypto last weekInstitutional Buyers Fuel Bitcoin’s New Era Amid Price Dip
Bitcoin is experiencing a shift as institutional investors like BlackRock and Fidelity accumulate large holdings, despite recent price declines. Market analysts suggest this could mark the final phase of Bitcoin’s four-year cycle, though the expected parabolic rally hasn’t materialized yet. Michael Saylor notes a generational transition in Bitcoin ownership, from short-term traders to long-term corporate and ETF holders. With BTC’s price at $104,891 and exchange reserves dwindling, experts anticipate a potential surge. Political and corporate backing, including from Donald Trump and Vanadi Coffee, further bolsters bullish sentiment, with predictions of BTC reaching $500,000.
about Institutional Buyers Fuel Bitcoin's New Era Amid Price DipBlackRock, Fidelity Ether ETFs See 21% Average Loss
Glassnode reports that investors in BlackRock and Fidelity’s spot Ether ETFs are holding an average unrealized loss of around 21%, as Ether trades at $2,601—well below the ETFs’ cost basis of $3,300 (BlackRock) and $3,500 (Fidelity). The May 29 analysis highlights the challenges faced by early adopters amid ETH’s price volatility. Despite institutional interest, the current market conditions have left many positions underwater, raising questions about short-term performance and investor sentiment in crypto ETFs.
about BlackRock, Fidelity Ether ETFs See 21% Average LossMeta Explores Stablecoins for Cross-Border Payments
Meta is reportedly exploring the use of stablecoins to facilitate cross-border payments, targeting lower transaction fees compared to traditional wire transfers. Discussions with crypto infrastructure firms are still in preliminary stages, with Instagram potentially using stablecoins for small payouts to creators. The company has also hired Ginger Baker, a Stellar Development Foundation board member, to lead its stablecoin efforts. This aligns with growing interest from non-crypto firms like Visa and Fidelity Investments, which are also advancing stablecoin-based payment solutions. Regulatory developments in the U.S. may further shape Meta’s strategy in this space.
about Meta Explores Stablecoins for Cross-Border PaymentsBitcoin vs Gold: The New Safe-Haven Battle in 2024
Bitcoin’s surge past $100K in 2024 has reignited discussions about its role as a safe-haven asset, competing with gold. Jurrien Timmer of Fidelity Investments notes Bitcoin’s Sharpe Ratio (-0.40) lags behind gold’s (1.33), yet their negative correlation suggests a potential shift in investor preference. While gold remains stable, Bitcoin’s parabolic rise and whale activity near $95K indicate market uncertainty—large traders are adopting cautious stances, with rising short positions signaling possible volatility ahead. If whale sentiment turns bullish, Bitcoin could surge beyond $100K, but prolonged bearish activity may trigger a short-term pullback.
about Bitcoin vs Gold: The New Safe-Haven Battle in 2024Bitcoin Reserves on Exchanges Hit 6-Year Low as Firms Accumulate
Bitcoin (BTC) reserves on exchanges have dropped to roughly 2.6 million BTC, the lowest since November 2018, as publicly traded companies accelerate their purchases. Fidelity Digital Assets attributes this trend to institutional investors moving BTC off exchanges for long-term holding, with over 425,000 BTC withdrawn since November. Notably, Strategy, co-founded by Michael Saylor, has acquired 285,980 BTC—81% of the 350,000 BTC bought by public firms. Asian companies like Japan’s Metaplanet and Hong Kong’s HK Asia Holdings are also adopting similar Bitcoin treasury strategies. Fidelity, a key player in institutional crypto adoption, manages the Fidelity Wise Origin Bitcoin Fund, one of the first U.S.-approved spot Bitcoin ETFs.
about Bitcoin Reserves on Exchanges Hit 6-Year Low as Firms AccumulateFidelity Analyst Predicts S&P 500 Recovery Amid Market Shifts
Jurrien Timmer of Fidelity Investments believes the S&P 500, after dropping 20% from its peak, is now positioned for a potential recovery, having swung below its long-term trendline. He compares the market’s movement to a pendulum, indicating that current lows may present a buying opportunity. However, Timmer cautions that the secular bull market, ongoing since 2009, could be entering its final phase due to emerging trends like de-globalization and de-dollarization. Investors may need to reassess their strategies, potentially shifting toward undervalued stocks and international markets as the dominance of U.S. tech giants wanes. As of the latest close, the S&P 500 stood at 5,282 points.
about Fidelity Analyst Predicts S&P 500 Recovery Amid Market ShiftsCanada Approves Spot Solana ETFs, First in the World
Canada’s financial regulators have approved multiple spot Solana (SOL) ETFs, marking a significant milestone in cryptocurrency adoption. Four major investment firms—31Q, Purpose Investments, CI Global Asset Management, and Evolve—will launch these products, providing Canadian investors with regulated access to SOL. A key feature is staking, which could enhance yields, as highlighted by TD Bank. Meanwhile, the U.S. lags behind, with only futures-based SOL ETFs struggling to gain traction. The SEC has yet to approve any spot Solana ETF applications, delaying decisions on filings from firms like Grayscale and Fidelity. This move underscores Canada’s progressive stance on crypto ETFs compared to the U.S.
about Canada Approves Spot Solana ETFs, First in the WorldAI Projects Thrive Amid Crypto Market Volatility and Ongoing Bull Cycle
The crypto market has experienced a significant downturn, with major cryptocurrencies like Bitcoin and Ethereum dropping over 10%. Despite this, analysts maintain that the bull cycle is ongoing, supported by the resilience of AI-driven projects like MIND of Pepe, which has raised over $7M in presale and offers staking rewards of 322% APY. CoreWeave, an AI cloud provider, is also set to go public, highlighting the growing demand for AI infrastructure amid market volatility.
about AI Projects Thrive Amid Crypto Market Volatility and Ongoing Bull CycleHedge Funds and RIAs Increase Bitcoin Exposure to 34.3 Billion Dollars
Hedge funds and registered investment advisors (RIAs) have significantly increased their Bitcoin exposure to $34.3 billion, marking a 357% rise in 2024. Despite this surge, Bitcoin still represents less than 1% of its $225 trillion addressable market.
about Hedge Funds and RIAs Increase Bitcoin Exposure to 34.3 Billion DollarsCitadel Securities Expands Into Cryptocurrency Market-Making Amid Regulatory Changes
Citadel Securities is set to enter cryptocurrency market-making, driven by a more favorable regulatory environment under the Trump administration. The firm aims to become a liquidity provider for digital assets, seeking approval to operate on major exchanges like Coinbase, after previously avoiding the sector due to regulatory uncertainties. This move aligns with Trump’s pro-crypto policies, which have encouraged institutional participation in digital assets, positioning Citadel alongside established firms like Jump Crypto and Jane Street.
about Citadel Securities Expands Into Cryptocurrency Market-Making Amid Regulatory ChangesNorth Carolina Introduces Legislation for Bitcoin ETP Investment
North Carolina is moving forward with new legislation aimed at facilitating investments in Bitcoin exchange-traded products (ETPs). This initiative reflects the state’s growing interest in integrating cryptocurrency into its financial landscape, potentially paving the way for broader adoption.
about North Carolina Introduces Legislation for Bitcoin ETP Investment