Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Kaspa, rising 23.04%.
Solana staged its biggest rally in more than a month after VanEck, an exchange-traded-fund issuer, submitted a filing for a product based on the digital asset, Bloomberg reports. The token rose as much as 11%, the highest since May.Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Gnosis, down 13.14%.
Billionaire Steven Cohen’s venture capital arm, Point72 Ventures, is pivoting away from fintech and crypto after laying off its five investors focused on these areas. The departures include three fintech-focused investors and two investors on Point72 Ventures’ digital assets team, according to Bloomberg.State Street Global Advisors and Galaxy Asset Management are developing a cryptocurrency exchange-traded fund aimed at shielding investors from the industry’s famous volatility.
Jesse Powell, founder of Kraken cryptocurrency exchange, announced on X that he has donated $1 million to former U.S President Donald Trump’s campaign. Trump has recently expressed strong support for the blockchain and crypto industry, according to Bloomberg.Bitcoin investment products saw around $600 million in outflows for a second consecutive week, the most over a two-week period since the U.S. approved ETFs to hold cryptocurrency in January, reports Bloomberg.
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