Circle Looks To Raise $400M, Partners With BlackRock – April 13

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $41,106

Bitcoin price has recovered slightly over the last day of trading, reclaiming the $41,000 mark to begin Wednesday.

Top-20 altcoins have also stabilized, as Ethereum, BNB and XRP each bounce back by 2%, while Avalanche gains 4% over the last 24 hours.

Top Stories for April 13, 2022 πŸ”₯

πŸ‘‰ Circle Looks To Raise $400M, Partners With BlackRock

Crypto payments firm Circle has announced that it is looking to raise $400 million in a new funding round, which is expected to close in Q2.

Circle will also be partnering with asset management giant BlackRock as a strategic investor. BlackRock will also be assisting in the management of USD Coin (USDC) cash reserves.

The company is currently valued at around $9 billion and has issued more than $50 billion worth of its USDC stablecoin. Circle intends to eventually become a full-reserve national commercial bank.

πŸ‘‰ New Nexo Card Enables Users To “Spend” BTC Without Selling It

Nexo has finally released its crypto card in partnership with Mastercard, enabling users to “spend” their crypto balance without selling it. The card was first planned in 2019.

Unlike competing products, which automatically sell crypto for fiat in order for it to be spent, the Nexo card instead borrows fiat currency against the crypto balance for spending. The mechanism allows the user to maintain crypto exposure – and in some jurisdictions, avoid taxable events.

πŸ‘‰ Ethereum PoS Merge May Not Come Until The Fall

Unsurprising to some, Ethereum’s shift to Proof-of-Stake (PoS) is no longer expected to occur in June, according to core developer Tim Beiko. Beiko claims that the move will likely be “in the few months after”.

The transition, which will shift Ethereum from a Proof-of-Work platform to PoS – a move which has been in the making for several years.