Polychain capital formed a $5 million position

Polychain Capital formed a $ 5 million position during the YFI depreciation

According to Alex Svanevik, CEO of the Nansen analytical firm, the first YFI transfer was made to the wallet attributed to Polychain Capital on October 17. Its size was 329 YFI, or about $ 5.15 million at the current exchange rate. The tokens came from the address of the Binance exchange.

329 YFI makes Polychain Capital the largest token holder among wallets not owned by the exchange or yearn finance itself. The issue of YFI is 30,000 tokens, as a result of which Polychain Capital controls a significant share in the total volume.

Nansen uses proprietary analysis engines to track asset allocations on the Ethereum blockchain. Polychain Capital is an active player in the cryptocurrency space and is estimated to have more than $ 300 million in assets under management. The fund was founded by Olaf Carlson-Wee, one of the first employees of the Coinbase exchange.

The YFI token is of significant interest to market participants due to the dynamics of the rate. Named by its creator André Cronier "useless" YFI has been growing rapidly in value since August, and by mid-September peaked at about $ 44,000 . Since then, the token has experienced a decline and recently reached $ 13,500.

Central Bank of Sweden Requires Legal Basis for CBDC

The head of the Swedish central bank Riksbank, Stefan Ingves, declared that there should be a CBDC in Sweden under the name e-krona, issued by the leading

"Riksbank has not yet made a final conclusion on the release of an electronic crown," added Ingves. - “The decision to release an electronic crown requires a legal basis and political support.”

Dutch crypto broker BTC Direct raised € 11 million with the participation of a European investment group

Dutch crypto brokerage company BTC Direct raised € 11 million in Series A fundraising, writes The Block.

The names of the investors were not disclosed, but the company noted that they included a "European investment group".

BTC Direct was founded in 2013 and, along with other services, provides tools for buying cryptocurrencies for fiat for clients of exchanges and custodian services. He also owns the BLOX crypto trading application, a closed trading platform and a hardware wallet.

The funding BTC Direct plans to use to double the size of its 50-strong team over the next 18 months.

“We continue to focus on product development and marketing initiatives,” the company said.

BTC Direct also notes that this is the first major investment from outside into their platform, which until now has been largely funded by the founders.

Huobi Launches Institutional Investor Asset Management Platform

Huobi has announced the launch of Huobi Institution's digital asset management and custody platform for corporate clients.

The service will allow qualified institutional investors and individuals with high income levels to transfer assets under the management of specialists from among the leading teams for quantitative trading.

Investors will be offered several plans of return, including fixed rate, capital protection and capital at risk.

Huobi will monitor risks, including debt-to-asset ratios and drawdowns, to protect investors from liquidation.

During the launch phase, Huobi, OKEx and Binance Markets will be used for trading. The leverage for futures and swap trading will be capped at 20x.