21 May 2020

Genesis acquires crypto custodian Vo1t on its way to becoming a full-service prime broker

Genesis, a subsidiary of Digital Currency Group (DCG) known for its trading and lending services, has acquired Vo1t, an institutional-grade custodian. This move plays a key role in the company’s transition to create Genesis Prime, a full-service digital asset prime brokerage. In the next few months, Genesis plans on building an integrated client interface, additional technology solutions, and will be launching additional capital introduction capabilities for funds and asset managers.

Why it matters - As more institutions dip their toes into crypto, a market opportunity has been created for a trusted prime broker to service these clients. This has created a race to become a one-stop-shop for institutions requiring a full suite of services. The prime broker industry will likely become increasingly competitive as we’ve seen other entrants such as BitGo, which took the reverse approach beginning as a custodian and later acquired a trading platform and recently introduced lending. - Crypto M&A opportunities seem to be increasing as there's a wide array of service providers that have struggled to scale as well as a number of well funded, profitable companies looking to add to their capabilities rather than build them in-house.

The Kin engineering team has submitted a proposal to migrate Kin from its current Stellar-based chain over to Solana. Kik Iterative Inc., the creators of the Kin cryptoasset, said that Stellar’s five-second block times and limited metadata space within transactions were unsuitable for Kin’s user exp...
Crypto exchanges Bittrex and Binance have (reluctantly) agreed to support Steem hard fork 0.23, which seized the assets from 64 former witnesses (totaling 23.6 million STEEM). These witnesses reportedly led the creation of Steem’s contentious clone, Hive, back in March and blocked current Steem supp...
25 May 2020
3 coins to keep an eye on | Issue #79
Inside last week's 13% range, three bearish daily candles were able to take the price 10% lower to close the week at $8,715. This level is approximately the same as the previous week's close. Will it hold as support? Meanwhile, the altcoin marketcap has been relatively stable, with the week's starting and ending price hove...

3 coins to keep an eye on 👀