The new law will allow investment banks, which can underwrite companies, issue securities, and are institutionally focused, to hold BTC. Regulated Bitcoin (BTC) investment banks are coming to El Salvador, following Thursday’s approval of El Salvador’s Investment Banking Law, which classifies investment banks under different regulations than commercial banks. Investment banks will now be allowed to hold BTC and other digital assets on their balance sheets and offer crypto services to “sophisticated” investors, the equivalent of accredited investors in the United States, Juan Carlos Reyes, president of El Salvador’s Commission of Digital Assets (CNAD), the government’s crypto regulatory agency, told Cointelegraph. He added: The law encourages foreign investment in El Salvador and positions it as an emerging hub for finance, proponents of the newly adopted law say. Read more
Crypto influencers democratize early-stage investing by offering transparent, accessible opportunities that VCs keep behind closed doors for the elite. Opinion by: Tom Bruni, editor-in-chief and vice president of Community, Stocktwits Since the dawn of the dot-com boom, it’s almost impossible to hear the term “VC” (venture capitalist) without immediately conjuring up an image of Sandhill Road — and the ultra-exclusive air that surrounds the famed strip of land in Northern California that’s responsible for pouring billions into tech startups each year. Silicon Valley VCs and their global counterparts have sat behind literal and metaphorical closed doors for decades. Only a few people decide which innovators and trends receive access to vital funding. Read more
Ether price excitement boils over as giant targets combine with a countdown to new all-time highs — but ETH/BTC still has a long way to go. Key points: Ether is on track to reach $20,000 as a lifelong price channel stays relevant, says a popular trader. ETH may even break beyond the channel for the first time in history. Read more
A week after selling $8.3 million in ETH, Arthur Hayes bought back at a higher price, telling Crypto Twitter he’ll “never take profit again.” BitMEX co-founder and Bitcoin billionaire Arthur Hayes has bought back into Ethereum just a week after selling a large tranche. Onchain data shows that Hayes offloaded 2,373 Ether (ETH), worth roughly $8.32 million at the time, when the token was trading near $3,507. The sale, which occurred about a week ago, locked in profits before Ether’s latest rally. In a reversal, the crypto analyst moved out $10.5 million in USDC (USDC) across multiple transactions on Saturday, with the stablecoins directed toward purchasing ETH at prices above $4,150, significantly higher than his earlier exit point. Read more