#CryptoCorner #Podcast 591: #Stocks discussed: (NasdaqGS: $TSLA) (TSX: $GLXY.TO) (TSXV: $BNXA.V)
#Crypto Market in the Red, #Bitcoin Down Following Elon Musk Tweet, Galaxy Digital Releases Q1 Results, and Banxa is Integrating Crypto-to-Fiat Gateway with Bancor
Point Roberts, WA, Delta BC May 17, 2021 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
Listen to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2021/051721-CryptoMarket.mp3
Read this in full at https://www.investorideas.com/news/2021/crypto-corner/05171TSLA-GLXY-BNXA.asp
Get the Crypto Corner Podcast on iTunes
Get the Crypto corner on Spotify
Stocks discussed: (NasdaqGS:TSLA) (TSX:GLXY) (TSXV:BNXA)
As we begin another week, the crypto market is very much in the red, having spent the weekend in decline, according to data from CoinMarketCap. In particular, Bitcoin (BTC), is down about 10 percent in the last 24 hours, and about 23 percent in the last seven days. This dramatic dip seems to have been a response to a comment by Elon Musk on a tweet yesterday, implying that Tesla (NasdaqGS:TSLA) might offload its crypto holdings. A crypto analyst called Mr. Whale (handle @CryptoWhale) tweeted:
Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him…
to which Musk replied, “Indeed”
It’s worth noting, however, that although Bitcoin crashed to a low of $42,284 USD following Musk’s tweet, it has recovered somewhat to a trading price of about $44,130 at press time.
Galaxy Digital Holdings Ltd. (TSX:GLXY) has released financial results for the first quarter ended March 31, 2021. Another consecutive record quarter, the company reported a net comprehensive income of $860.2 million, a significant improvement over its net comprehensive loss of $26.9 million in the same period for 2020. Michael Novogratz, Founder and CEO of Galaxy Digital, said:
"Beyond delivering dramatic organic growth, we announced we will acquire BitGo, which will establish Galaxy Digital as the first full-service digital asset financial platform for institutions and ensure our business is aligned with broader institutional adoption."
Crypto payment service provider (PSP) Banxa Holdings Inc. (TSXV:BNXA) is integrating its crypto-to-fiat gateway with Bancor, an on-chain liquidity protocol that enables “automated cross-chain swaps and liquidity provision to different tokens.” According to the press release, this will allow “Bancor customers to purchase digital assets through the Bancor Network interface with fiat currencies, without having to first convert their fiat into dollar-backed stablecoins, bitcoin, or ether.” Holger Arians, CEO of Banxa, explained:
"As the market continues its record-breaking bull run, we are proud to have our technology integrated with a project like Bancor. Bancor Network provides a smooth, user-friendly interface for non-custodial trading of thousands of cryptocurrency pairs, and this integration enables easier on-boarding for users who wish to transact from fiat currencies into their favorite tokens."
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash and others.
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
The Crypto Corner is part of the Investor Ideas Membership content
The Investorideas.com podcasts are also available on iTunes ( Apple Podcasts) , Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, Google Play Music and most audio platforms available.
Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android
Join our Investor Club https://www.investorideas.com/membership/
Contact Investorideas.com
800-665-0411
Get more Bitcoin and Blockchain Investor ideas – news, articles, podcasts and stock directories