Recent cryptocurrency-related news

1. NYDIG, a Bank Backend Bitcoin Trading Company, Begins Operations, Signs Hundreds of US Banks

• NYDIG provides a backend for U.S. city banks to offer bitcoin transactions and custody services to their own account holders. Hundreds of banks have already signed up. The main players are small banks such as Suncrest Bank, which has seven branches, but there is likely to be pressure on large banks to offer bitcoin transactions to their customers (Morgan and Goldman already offered bitcoin transactions to their high-net-worth clients in March, and JPMorgan is considering it). NYDIG is a spin-out of a New York-based asset management firm called Stone Ridge, which raised $200M in March and $100M in April from outside sources. NYDIG raised $200M in March and $100M in April from outside sources, with investments from MassMutual, Morgan Stanley, New York Life Insurance, Soros Fund, and other major financial institutions, and applied for a bitcoin ETF in February.
  
• CFO of Bridgewater Associates, the world's largest hedge fund, announces job change today (5/7)
  
• NYDIG will handle bitcoin custody and transactions, partnering with Fidelity National Information (FNI) for the bank transfer portion. 55,000 employees at FNI will provide a variety of services, including payment processing, to both commercial and investment banks.

2．"A candidate for Comptroller is running on the platform of "1-3% of New York City's pension fund to be in cryptocurrency.

• As a precedent, Fairfax County in Virginia (population 1.15 million, about the size of Sendai and Hiroshima) invested part of its pension fund in a cryptocurrency fund starting in 2018, and has seen good returns.
  
• Fairfax County's total pension fund is $6.4B. The required yield is 7.25%, so we made this investment for a high return.
  
• Invested $22M in 2018 and $52M in 2019 in crypto fund Morgan Creek Blockchain Opportunities Fund; invested $22M in Morgan Creek and $16M in Blockchain Capital in 2021
  
• As of 3/31, 4.4x and 3.4x returns are available.

3. Asset management firm Galaxy Digital acquires BitGo, a crypto service for businesses, for $1.2B

• Cryptocurrency's First $1B+ Acquisition Deal, Including $265M in Cash
• Galaxy Digital will be able to conduct a wide range of cryptocurrency-related business with this acquisition.
• Trading, custody, asset management, investment operations, lending, tax services, mining operations, etc.
  
• Founded in 2013, BitGo is a San Francisco-based venture that provides lending, trading and tax services to institutional investors, banks and other service providers. Galaxy is already listed on the Toronto exchange and will be listed in the US later this year.

4. Ethreum $3500+, Founder Vitalik's stake exceeds $1B

• Ethereum exceeded $3500 for the first time on Tuesday, May 4, and the value of 335,521 ETH in wallet addresses published by Vitalik Buterin in 2018 exceeded $1B

5. Dogecoin is exploding in value as Elon Musk's Saturday Night Live appearance approaches

• Elon Musk will be appearing on Saturday Night Live (SNL) on Saturday, May 8, and is known for his love of Dogecoin, also known as Doge Daddy Elon. Since his scheduled appearance on SNL was announced on April 24, the price of Dogecoin has risen from 26 cents to 70 cents. This is a 24,000% increase over the past year. Became the world's fourth largest cryptocurrency with a market value of $88B.
  
• To capitalize on the popularity, eToro and Gemini announced the Dogecoin deal this week.
  
• Galaxy Digital released a report titled "Dogecoin: The world's most honest shitcoin"
  
• How long will Dogecoin's "cute is justice" last...