Top 5 Crypto News of the Week

Top 5 crypto news of the week

Leading crypto asset manager Grayscale reported that it had recorded more than $1 billion inflows in Q3, while Stone Ridge Holdings Group purchased more than $100 million worth of BTC. Read about these stories and much more in our recap of this week’s top 5 crypto news.

1. $1 Billion In Inflows – Leading Crypto Asset Manager Grayscale Has Another Record-Breaking Quarter

Cryptocurrency asset manager Grayscale Investments is continuing its record-breaking streak. According to the firm’s latest Digital Asset Investment report, Q3 was yet another record quarter for the company. Grayscale’s cryptocurrency investment products saw over $1 billion in inflows for the first time in the company’s history. Of those funds, $719.3 million flowed into Grayscale’s flagship Grayscale Bitcoin Trust. 84% of the investments in Q3 came from institutional investors, primarily hedge funds. 

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2. $100 Million Bitcoin Investment – Asset Management Firm Stone Ridge Holdings Group Buys Over 10,000 BTC

The number of companies holding Bitcoin as a reserve asset is growing – asset management firm Stone Ridge Holdings Group, which manages over $10 billion in assets, has announced that it has purchased more than 10,000 BTC, which translates to more than $113 million at the time of writing.

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3. G7 Countries Will take a Stance Against Libra Until Adequate Regulation is Put in Place

According to an October 12 Reuters report, the countries from the Group of Seven, or G7 for short, revealed that they will halt the distribution and operations of global stablecoins, as there is no adequate regulation put in place yet. Since Facebook’s Libra project also falls into this category, the financial ministers and central bank governors of the G7 countries agreed to oppose the launch of the project. 

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4. Filecoin Mainnet Launches, Crypto Exchanges Rush to Offer FIL Trading

Filecoin, one of the most highly-anticipated projects in the cryptocurrency space, has launched its mainnet. With the mainnet launch, FIL tokens are being distributed to investors in the Filecoin ICO. The Filecoin token sale was conducted in 2017 through the CoinList platform, and raised $205 million. Before the public token sale, the project raised $52 million in a pre-sale that included multiple venture capital firms.

Filecoin’s FIL token is already being listed on several major cryptocurrency exchanges. Binance, Gemini, Kraken and Huobi are all listing FIL.

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5. OKEx Cryptocurrency Exchange Suspends Withdrawals, Says Private Key Holder Is Cooperating with “Public Security Bureau”

The OKEx cryptocurrency exchange suspended withdrawals at 11:00 UTC Hong Kong time (3:00 AM UTC). In an announcement, the exchange says that it has been “out of touch” one of its private key holders due to “investigations” conducted by a “public security bureau”.

OKEx maintains that customer funds remain safe despite withdrawals not being available, and the exchange’s markets are still active. The exchange added that it will re-enable withdrawals as soon as possible.

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