#CryptoCorner: #Blockchain #Stocks Rise Alongside Crypto Rally, BitGo Announces Digital Asset Insurance Through Lloyd’s
#CryptoCorner:
#Blockchain #Stocks Rise Alongside Crypto
Rally, BitGo Announces Digital Asset Insurance Through Lloyd’s
CryptoCorner and Podcast sponsored by Crypto payment
tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
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February
20 Crypto Corner
Blockchain Stocks Rise Alongside Crypto Rally, BitGo
Announces Digital Asset Insurance Through Lloyd’s, SEC Reviewing Two Different
Bitcoin ETFs and Wyoming Passes Three Crypto Bills
Stocks discussed: (NasdaqCM:NXTD) (TSXV:HIVE)
(NasdaqCM:MARA) (NasdaqCM:RIOT)
In tandem with
yesterday’s rally in the crypto market, many crypto and blockchain stocks
showed a similar surge, exhibiting higher prices and above average trading
volumes. NXT-ID, Inc. (NasdaqCM:NXTD) had grown 13.3 percent,
reaching a trading price of $1.32 and a volume of nearly 1.5 million when
markets closed. Hive Blockchain Technologies Ltd. (TSXV:HIVE) grew 19.51
percent, reaching a trading price of $0.08 and a volume of nearly 3.5 million.
Marathon Patent Group, Inc. (NasdaqCM:MARA) grew 36.43 percent, reaching
$0.73 per share and a volume of 5.4 million. And Riot Blockchain, Inc. (NasdaqCM:RIOT)
grew 34.82 percent, reaching a trading price of $3.33 and a volume of 20
million when markets closed. Riot has continued its growth into this morning
with a trading price of $3.86 at press time.
Digital financial
services provider, BitGo, has announced that it will offer comprehensive
insurance protections for cryptos and digital assets through Lloyd’s of London.
The press
release
indicates that assets held by BitGo, Inc. or BitGo Trust Company will be
insured through Lloyd’s for up to $100 million USD. BitGo CEO Mike Belshe said:
“This is the most complete insurance
offering in the industry. It is not always easy for some clients to understand
under what circumstances their investments are insured and to what extent their
loss would be covered. We are changing that by being more transparent than any
other company about the terms of our coverage. Transparency and accuracy is
essential for building trust in the market.”
CoinDesk reports that the
U.S. Securities and Exchange Commission (SEC) is currently reviewing two
different Bitcoin ETF proposals. The VanEck/SolidX proposal filed with Cboe BZX
Exchange and a proposal from Bitwise Asset Management with NYSE Arca are both
being considered. Matt Hougan, Bitwise global head of research told CoinDesk:
“A little more than year ago, we didn’t
have futures. A year ago we didn’t have nearly as many firms making markets. A
few months ago, you didn’t have folks like Fidelity announced in the space.
It’s evolving really, really quickly.”
The U.S. state of
Wyoming has passed three separate bills relating to blockchain and crypto in
the past week. Bill SF0125, signed yesterday,
classifies digital assets within existing property laws and clarifies how
financial institutions can work with crypto. Additionally, passed on Friday,
Bill HB0185 deals with the
issuance of tokens while Bill HB0074 addresses the role
of banks in the crypto space.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
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