NY AG sends warning to crypto industry

New York Public Prosecutor’s Office Letitia James has warned crypto companies to “play by the rules” or risk closure, according to a press release.

Called cryptocurrency “high risk”, James said “devastating losses” could occur, the release said.

She said that industry members should be properly registered and that those who invest in crypto should watch out for conflicts of interest among trading platform operators and market manipulation, according to the announcement.

In other news, MicroStrategy, a major bitcoinbacker, said it has bought another 328 bitcoin for about $ 15 million in cash, Reuters reported.

The move strengthened the company’s holding of cryptocurrency and sent its shares 7 percent higher, according to the report. The new bitcoin was purchased for about $ 45,710 each. MicroStrategy, the world’s largest listed business intelligence company, owns approximately 90,859 bitcoin.

Meanwhile, Rakuten, often called “Japan’s Amazon”, now lets customers upload theirs Rakuten Pay accounts with cryptocurrencies including bitcoin, ethereum or bitcoin cash, Bitcoin.com reported.

Rakuten will also offer bonus points for those who use Rakuten Cash through cryptocurrencies, according to the report. Users will be able to load their Rakuten app with the crypts to purchase items from stores, including FamilyMart, McDonald’s, 7-Elevenand Mister monk, among others.

In other news, A100x has announced the launch of a rolling venture capital fund for investment in companies applying blockchain, artificial intelligence (AI) or other emerging technologies for use in environmental, social or economic causes, according to a press release.

The fund will focus in particular on verticals such as food and pharmaceutical chains, healthcare, climate and financial services.

AngelList debuted a rolling venture capital product in 2020, which automated and accelerated the process and allowed investments to go to companies at an early stage. The fund structure works to allow fund managers to raise new capital commitments regularly and invest as they go, which is how it got the “rolling” title, according to the announcement.

Finally, Goldman Sachs has restarted its cryptocurrency counter in the midst of a strong interest in cryptocurrency, Reuters reported. The bank will also trade bitcoin futures and non-deliverable futures for customers starting next week.

This is not Goldman’s only activity in the digital assets sector, Reuters reported, as the bank has also started projects with blockchain technology and the central bank’s digital currencies (CBDC). The bank is investigating the possibilities of a bitcoin exchange-traded fund and has issued a request for information to investigate digital assets.



About the study: Holiday Shopping Retrospective Study: Merchant Insights For 2021 And Beyond, a PYMNTS and PayPal collaboration, examines consumers’ shopping methods and preferences during the 2020 holiday and what these mean for shoppers now and for the coming holiday seasons. The report is based on a census-balanced survey of 2,070 American consumers.