Large financial services companies are embracing cryptocurrencies even as the Securities and Exchange Commission (SEC) and other regulators fight key companies in the industry. This explains why most cryptocurrencies have staged a strong recovery in the past few days. Bitcoin price is approaching $29,000 while Ethereum has jumped to $1,830. AltSignals, on the other hand, has raised over $1 million from investors.
Blackrock and Deutsche Bank Crypto Ambitions
The most important crypto news of this month was the decision by the SEC to sue Coinbase and Binance, the two biggest companies in the industry. The SEC made several allegations such as offering unregulated securities and commingling of customer funds. The impact of these lawsuits could be dire for the industry, such as developers of staked products needing to get a license from the agency.
However, many large companies are embracing cryptocurrencies. Blackrock has applied for the iShares Bitcoin Trust. If accepted, this will be the first spot ETF in the crypto industry, enabling investors to have an exposure with Bitcoin without holding the real coin. The SEC must still allow the spot ETF, though Blackrock has added measures to prevent price manipulation.
Deutsche Bank has applied for a new crypto custodian license in Germany. If granted, the bank will provide crypto banking services to affluent people in the country.
AltSignals Token Sale Raises $1 Million
AltSignals, a fintech company that provides trading signals, has raised over $1 million from investors through a token sale. The ASI token is going for $0.015 in the first stage of the token sale and the developers hope to boost its price by 25% in the next stage.
AltSignals is leveraging concepts of artificial intelligence (AI) to provide better signals to its customers. The funds raised will help the company to develop the project and, eventually, to become a fully-decentralized platform where ASI token holders will be able to vote for key decisions.
AltSignals is a good investment for three main reasons. First, the token is extremely cheap, meaning that you can make a lot of money without risking much. Second, the company is already profitable even before it embraces AI. And finally, it is disrupting an industry that is valued at billions of dollars.
