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10 Best Cryptocurrency Startups to Watch

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In this article, we discuss the 10 best cryptocurrency startups to watch. If you’d like to skip our detailed analysis of these startups, go straight to the The 5 Best Cryptocurrency Startups You Should Check Out

Cryptocurrencies have exploded in value since their humble beginnings in 2009 when Bitcoin, the world’s most popular cryptocurrency today, which reached a market cap of more than $ 1 trillion in late February, was created and launched as the first decentralized cryptocurrency. Since 2012, Bitcoin has appreciated more than 193,000% in value, accelerating the adoption of hundreds of different types of cryptocurrencies. The market size for cryptocurrencies is expected to exceed $ 1 trillion by 2026.

There is no doubt that crypto-related ventures are among the hottest products in the tech sector. Many large companies that are integrating revolutionary new technologies into their platforms or simply want to immerse themselves in the industry are funding crypto startups. Big tech names like Alphabet Inc. (NASDAQ: Goog) and Amazon.com, Inc. (NASDAQ: AMZN) are part of that list, along with payment giant PayPal Holdings, Inc. (NASDAQ: PYPL). Hedge funds and private investors are also jumping on the crypto sauce.

Alphabet Inc. (NASDAQ: Demokratie) has invested in Blockchain.com, one of the largest online crypto platforms in the world. Amazon.com, Inc. (NASDAQ: AMZN) owner Jeff Bezos has endorsed Chipper Cash, an Africa-based fintech company that has rapidly gained popularity across the continent and is now looking to expand overseas. PayPal Holdings, Inc. (NASDAQ: PYPL) announced earlier this year that it would allow hundreds of millions of users to pay with cryptocurrencies on its platform.

As consumer confidence in crypto offerings increases through institutional investments and it becomes clear that crypto is indeed the future of financial services in a digital world, startups looking to solve crypto-related problems in the market are gaining popularity. Cybersecurity, health, and coin exchanges are some of the key segments that investors should watch out for as they offer explosive growth potential in the crypto market. It remains to be seen whether the financial world, which continues to rely on Fiat, can survive this tailwind.

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The entire hedge fund industry is feeling the repercussions of the changing financial landscape. Its reputation has been tarnished over the past decade when its hedged returns failed to keep up with the unsecured returns on market indices. On the flip side, Insider Monkey’s research was able to pre-identify a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26, 2021, our monthly newsletter stock picks returned 197.2% versus 72.4% for the SPY. Our stock selection outperformed the market by more than 124 percentage points (see details here). In addition, we were able to identify a selected group of hedge fund holdings in advance that lagged significantly behind the market. We have been tracking and sharing the list of these stocks since February 2017, and they lost 13% by November 16. Because of this, we believe that hedge fund sentiment is an extremely useful indicator that investors should look out for. You can subscribe to our free newsletter on our homepage to get our stories in your inbox.

The best cryptocurrency startups to look at

Photo by Mario Gogh on Unsplash

With that in mind, here is our list of the 10 Best Cryptocurrency Startups That You Should Check Out. These startups have been selected taking into account the crypto-related issues they want to solve, the quality of the products or services they offer, and their fundamental business model that underpins the earnings philosophy.

The best cryptocurrency startups to look at

10. CoinSwitch Kuber

CoinSwitch Kuber is a cryptocurrency exchange that mainly enables crypto transactions in India. As of April, the company raised $ 25 million in funding Tiger Global Management LLC, the New York-based hedge fund with $ 43 billion in assets under management. With the latest funding, the company is now valued at over $ 500 million. Scott Shleifer, a partner in the hedge fund, told the media in India that the fund is looking forward to partnering with a company well positioned to capitalize on the crypto boom among retail investors in the country.

Chase Coleman from Tiger Global

Previously, the crypto exchange had also raised funds from Paradigm, an investment firm founded by Fred Ehrsam. Ehrsam is one of the founders of Coinbase Global, Inc. (NASDAQ: COIN), the largest crypto exchange in the world.

Coinbase Global, Inc. (NASDAQ: COIN) went public in one of the largest IPOs of the year to date in April, ending its first day of trading with a market cap of $ 86 billion.

Coinbase Global, Inc. (NASDAQ: COIN) has received bullish reviews from many investment advisors over the past few weeks, even as crypto stocks slump with the fall in Bitcoin prices.

Coinbase Global, Inc. (NASDAQ: COIN) is among the top crypto stocks, along with Alphabet Inc. (NASDAQ: Goog), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL) to observe.

9. Bit by bit

Bitwise Asset Management is a cryptocurrency index fund manager that offers its clients exposure to crypto investments. Most recently, the fund raised $ 70 million in a Series B financing round led by big names in the hedge fund industry like Stanley Druckermiller Capital of Duquesne, and David McCormick, the CEO of Bridgewater Associates. The crypto fund manages more than $ 1.2 billion in assets and plans aggressive expansion in the coming months. CEO Hunter Horsley seeks to double the size of his team by the end of the year.

DUQUESNE CAPITAL

DUQUESNE CAPITAL

Support from institutions like Duquesne Capital, a leading US investment firm with more than $ 3 billion in assets under management, will help crypto-related offerings gain wider adoption. One of Duquesne Capital’s top holdings is Microsoft Corporation (NASDAQ: MSFT), which is also optimistic about the crypto industry.

From the hedge funds tracked by Insider Monkey, a Washington-based investment firm Fisher Asset Managementt is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT) with 23.3 million shares valued at more than $ 5.2 billion.

Just like Alphabet Inc. (NASDAQ: Goog), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), Microsoft Corporation (NASDAQ: MSFT) is one of the top crypto-watch stocks.

8. Fetch.AI

Fetch.AI Limited is an artificial intelligence (AI) company that markets AI solutions for blockchain networks. At the end of March, the company launched a new version of its mainnet network with 30 validators, including Outlier Ventures, Forbole and InfStones, among others. The company has managed to raise more than $ 26 million in three financing rounds.

GDA Group and Outlier Ventures contributed to these rounds. The company is based in the UK and ranks eighth on our list of the 10 Best Cryptocurrency Startups to Watch.

Another company with a thriving artificial intelligence business is Baidu, Inc. (NASDAQ: BEGIN), the Chinese technology company that operates the country’s leading internet search engine. Baidu, Inc.’s (NASDAQ: BIDU) artificial intelligence division was recently labeled as undervalued by investment advisory firm Daiwa.

As of the end of the first quarter of 2021, 89 hedge funds in the Insider Monkey database held $ 6.5 billion in Baidu, Inc. (NASDAQ: BIDU), up from 51 in the previous quarter worth $ 4.6 billion. Dollar.

Just like Alphabet Inc. (NASDAQ: Goog), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), Baidu, Inc. (NASDAQ: BIDU) is one of the best cryptocurrency stocks to watch .

7. Provenance

Provenance is a company that markets supply chain and product transparency. It operates software that uses blockchain, mobile, and other open data sources to provide users with the origins, tracking, and impact of products. So far, more than $ 1.2 million in funding has been raised in five rounds. The Digital Currency Group and Working Capital Fund are some of the big names that have invested in the company. The company is based in San Francisco and is number 7 on our list of the top 10 cryptocurrency startups to watch.

One company that has a similar business model to Provenance is MongoDB, Inc. (NASDAQ: MDB), the software company that provides commercial support for source databases. MongoDB, Inc. (NASDAQ: MDB) recently beat market forecast for earnings per share and revenue for the first quarter of 2021.

From the hedge funds tracked by Insider Monkey, a Boston-based investment firm Whale Rock Capital Management is a leading shareholder in MongoDB, Inc. (NASDAQ: MDB) with 1.2 million shares valued at more than $ 338 million.

Just like Alphabet Inc. (NASDAQ: Goog), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), MongoDB, Inc. (NASDAQ: MDB) is one of the best cryptocurrency stocks to watch .

6. Loosen. Care

Solve.Care is a company that markets a decentralized blockchain platform for healthcare and related services. The company connects patients with healthcare professionals and coordinates all types of services, care packages and payments within the system using a smart blockchain contract. It has so far managed to garner the support of several large insurance companies as the company’s platform can be used to settle various types of insurance claims quickly and inexpensively. The company has raised $ 30 million in funding so far in two rounds.

Another company making waves with the innovative use of new technology in healthcare is Teladoc Health, Inc. (NYSE: TDOC), the telemedicine stock that has seen strong interest from hedge funds in recent months amid coronavirus lockdowns Helped the company grow dramatically with people choosing to consult health professionals online instead of going to a doctor.

As of the end of the first quarter of 2021, 42 hedge funds in Insider Monkey’s database held $ 3.3 billion in Teladoc Health, Inc. (NYSE: TDOC), up from 50 in the previous quarter worth $ 2.6 billion -Dollar.

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Disclose. None. The 10 best cryptocurrency startups to watch was originally published on Insider Monkey.

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Cryptocurrency

US Senator Calls On SEC Chairman To Provide Regulatory Clarity On Cryptocurrencies – Regulation Bitcoin News

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A US senator has asked the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The Senator stated that in many enforcement actions, “the SEC has failed to identify the securities involved or the reasons for their status as securities, which would have provided much-needed public regulatory clarity.”

US Senator wants the SEC to provide clear guidelines on crypto regulation

Senator Pat Toomey, ranked member of the U.S. Senate Committee on Banking, Housing, and Urban Development, wrote a letter to SEC Chairman Gary Gensler on Friday regarding the regulation of cryptocurrencies.

His letter followed Gensler’s testimony before the Senate Banking Committee last week. Toomey began:

I’m writing to address the concerns I raised at the hearing about the need for regulatory clarity around emerging technologies such as cryptocurrencies, including stablecoins.

“In order for investors to benefit from a fair and competitive market, regulators must proactively provide rules on how to get to industry,” the Senator said that the SEC “has instead adopted a strategy of regulation through enforcement in this area.” To date, the commission has launched more than 75 enforcement actions against the crypto industry, fines and penalties totaling more than $ 2.5 billion against crypto companies and individuals.

At the Senate hearing, Gensler extolled “the SEC’s success in pursuing crypto-related enforcement measures.” Toomey noted, however, that “in many of these enforcement actions, the SEC failed to identify the securities involved or the reasons for their status as securities, which would have provided much-needed public regulatory clarity.”

SEC Commissioner Hester Peirce is also concerned about the SEC’s approach to crypto regulation. She criticized her own agency in August for taking an enforcement-oriented approach to crypto regulation.

The Senator from Pennsylvania noted that the SEC’s approach was tied to Gensler’s belief that “the likelihood is pretty slim” that a given cryptocurrency platform has no securities. For example, Gensler told Senator Elizabeth Warren at the hearing that the Nasdaq-listed crypto exchange Coinbase (Nasdaq: COIN) could have dozens of tokens, which could be securities.

Recently, Coinbase was forced to abandon its plan to launch a loan product after the SEC threatened legal action and the company alleged it had received no explanation from the regulator. In the meantime, the security guard is in an ongoing proceeding with Ripple Labs and its executives as to whether XRP is a security.

Senator Toomey emphasized:

The SEC has a responsibility to do more than just provide probabilistic estimates.

The Senator concluded his letter with a list of questions for Gensler to answer for additional guidance on crypto regulation.

What do you think of Senator Toomey asking SEC Chairman Gensler to provide clear guidance on crypto regulation? Let us know in the comment section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of Liability: This article is for informational purposes only. It is not a direct offer or solicitation to make an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Crypto plunge a wake-up call — and tax opportunity — for investors

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A detail of the statue of Satoshi Nakamoto, a presumed pseudonym of the inventor of Bitcoin, in Budapest, Hungary.

Janos Sorrow | Getty Images News | Getty Images

The price of popular cryptocurrencies like Bitcoin and Ethereum fell on Friday after Chinese officials stepped up crackdown and essentially ruled crypto illegal.

Government intervention, while substantial, does not necessarily mean that financial advisers believe investors should run into the mountains. But it’s another reminder that crypto holdings are subject to wild fluctuations in price, they said.

“I wouldn’t call this the end of the world,” said Leon LaBrecque, accountant and certified financial planner with Sequoia Financial Group, based in Akron, Ohio. “It’s just a wake-up call.”

“This should be in recognition of the fact that it is a volatile asset and that all the ups and downs are a match,” he said.

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This volatility opens up opportunities for tax planning that may only be a few months away, advisors said, depending on the Democrats’ final compromise on federal tax law.

Bitcoin prices had fallen 6% to around $ 42,000 at 3 p.m. ET Friday afternoon. Ether, the second largest digital currency, fell more than 8% to around $ 2,890.

The People’s Bank of China terrified investors after declaring all crypto-related activity illegal. These activities include, for example, trading services and foreign exchanges. This is the latest move in the country’s wider crackdown on digital currencies.

The ban on Bitcoin and other cryptocurrencies can be of concern for current and prospective investors as the government limits buyers for a significant segment of the world’s population, advisors said. And other governments are likely to have additional regulations as well, they said.

But these can’t make much of a difference in terms of long-term prices. A daily slump in crypto costs, which may feel significant at this point, is likely just part of a longer-term price correction towards an average price, advisors said.

“Will government regulation make cryptocurrencies volatile? Yes,” said Wayne Wilbanks, managing principal and chief investment officer at Wilbanks Smith & Thomas Asset Management in Norfolk, Virginia. “Will it make crypto redundant? No.

“I don’t think China’s regulation, or even US regulations, will make that much of a difference in the long run,” he added.

Bitcoin, for example, is still up around 40% year-over-year despite the slump on Friday. (It’s far from its April high of around $ 63,000, however.)

To this day, volatility is a signature of cryptocurrencies. This year, for example, prices have fluctuated sharply after tweets from Tesla co-founder and crypto enthusiast Elon Musk.

Advisors usually recommend that investors allocate a small portion of their portfolio (anything that they would lose entirely) because of the risk involved.

Tax advantage

Investors can take advantage of recent volatility, according to Jeffrey Levine, CFP, Accountant and Chief Planning Officer at Buckingham Wealth Partners in Long Island, New York.

Equity, crypto and other investors can “reap” investment losses for a tax advantage. Basically, you can sell a lost investment (e.g. Bitcoin) and use the loss to destroy the gain on a winning investment elsewhere in your portfolio.

This “tax loss harvesting” reduces (or eliminates) the capital gains tax owed on the estimated value of an investment sold.

However, unlike stock investors, crypto investors who are sold out can quickly buy back into the same or similar digital currency. As a result, if the volatile asset price recovers shortly thereafter, they can receive the above tax benefit as well as a portfolio benefit.

House Democrats proposed closing this crypto loophole after this year to reform tax law.

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A financial TikTok influencer with almost 500,000 followers says bitcoin is going to ‘get slayed’ – and shares how cryptos and stablecoins make up his trading strategy | Currency News | Financial and Business News

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Mason Versluis

  • 21-year-old Mason Versluis has almost 500,000 followers on TikTok, where he gives tips on crypto and markets.
  • He recently spoke to Insider about how he chooses which coin to invest in and why.
  • Versluis said he would like to see bitcoin “slayed” as other coins have far more real-world use cases.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

Bitcoin is the largest cryptocurrency by market value and is dwarfing its competitors for the time being. But the rise of crypto rivals with far more real world uses means it will be dethroned sooner rather than later, according to financial TikTok influencer Mason Versluis.

The 21-year-old Versluis also bears the username Crypto Mason and has almost 500,000 followers on his TikTok account, which he uses to shoot short videos to educate his viewers about crypto and the markets.

Versluis, who has been trading crypto since he was 15, recently spoke to Insider about his prospects for the market.

“The psychological thing that Bitcoin is always number one and king can be gone. By ‘kill Bitcoin’ I mean that I want something to happen and then we’ll see what happens afterwards, ”said Versluis.

Bitcoin has a market capitalization of just under $ 800 billion, according to CoinMarketCap, of the roughly $ 1.9 trillion that the entire crypto market is worth.

In the last 12 months it has gained almost 350% in price, but Versluis believes there is more value elsewhere.

“My dad told me about XRP when I was 17 and I’ve been back ever since,” he said.

“I’m one of those people who think XRP is a ‘better bitcoin’. And it actually solves the payment problem better than Bitcoin ever can or will, ”he added. Ripple Lab’s XRP token is used in fast payment systems – an area where Bitcoin can’t really compete given the comparatively slow network speed. One of the bigger crypto coins, XRP has kept pace with Bitcoin over the past year, rising 320%.

Ether, the native token of the Ethereum network, is the second largest cryptocurrency and accounts for around 20% of the market. The blockchain’s ability to run decentralized financial applications, smart contacts, and other protocols has resulted in an onslaught of investor money in ether this year, up nearly 800% over that time.

“It must have use cases, that is: Does this token do nothing? Am I only buying this token because I think it will increase in value?” said Versluis.

“That’s what I personally invest in, just because of the potential – they actually do something. Ethereum has so many decentralized applications built on it, ”he added.

When it comes to taking a position in a coin, Versluis says he’s not a day trader.

“It’s a lot of stress, you have to sit at the computer and watch the markets,” he said.

“I’m going to see an opportunity, put in some money and basically ramp up this rocket until I think it’s time to sell it. I sell them off and put them in a stablecoin like USDT or USDC. And then I just make profits and reinvest part of it in my main portfolio. So it’s a slow process, “he said.

As a relatively young trader who says that part of his passion for crypto is the decentralized, free nature, the question arises what Versluis thinks about the regulation in this market. Unlike many crypto fans, he’s not against it. However, he believes that all rules have to adapt to the reality of the crypto market and that one size does not fit everyone.

“It’s a digital world. And we’re only getting more digital and virtual, ”he said.

“You can’t just take the old system and the laws and slap it on crypto. It doesn’t work.

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