As usual around lunchtime, we look at the live Bitcoin price and the prices of the top 25 crypto. Furthermore, we watch an interview in which SEC Chairman Gensler makes striking statements about crypto and Ripple (XRP). Then we analyze a huge crypto deal from Max Verstappen’s Red Bull and finally we look at trading strategies.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price flat, prices top 25 crypto exchange
At the time of writing, the live Bitcoin price is EUR 38,909.25 ($44,227.97). This is 0.12% lower than during our crypto lunch yesterday.
The prices of the top 25 crypto show a mixed picture. We see price declines, with Crypto.comCoin (CRO) currently losing the most in 24 hours at -1.90%. On the other hand, we also see price gains. The most gains are for Avalanche (AVAX), which is up 6.48%. On the site of Tradeincrypto.com you can analyze crypto and Bitcoin live prices 24 hours a day.
SEC chairman hints, is Ripple (XRP) a security?
Yesterday, Forbes had an interview with SEC Chairman Gensler about the crypto market. More regulation is on the horizon, but at the same time it is uncertain what the criteria are for crypto to qualify as security. The SEC does not normally want to comment on this, especially given the lawsuit between Ripple (XRP) and SEC. This makes it all the more striking that Gensler does give a hint of his views in this interview. You can watch the interview here.
Watch the latest video at foxbusiness.com
As we can see, Gensler takes a strict view. As soon as money is collected from others with the intention of making a profit, he says there is a question of security. It is striking that he not only mentions the coins themselves as possible security, but also points to the platforms/exchanges where trade and lending in crypto is possible.
He is also critical of a Bitcoin spot ETF because there is no underlying, regulated market. This makes approval for a spot Bitcoin ETF unlikely in the near term.
Judging by the prices, the market is reacting neutrally. Meanwhile, the first negative comments are appearing.
Twitter won’t load because you didn’t give permission.
SEC chief Gary Gensler throwing shade in this Fox Business interview pic.twitter.com/qmSKll5wEd
– Liz Hoffman (@lizrhoffman) February 15, 2022
Red Bull closes another mega sponsorship deal in crypto
We saw earlier that Red Bull signed a sponsorship deal with Tezos (XTZ). We also saw that Max Verstappen may soon be teaching crypto. Still, that doesn’t stop other crypto companies from also wanting to benefit from the popularity of Red Bull and world champion Max Verstappen.
Indeed, the racing team struck a $150 million, three-year deal with crypto platform Bybit. This would be the largest crypto sponsorship deal in sports to date. Of course there will be extensive naming rights on the cars and perhaps clothing for drivers and staff, but what else we can expect in terms of content is not yet known.
Learning from professional crypto investors
Institutional investors are, of course, continuously aware of developments in the crypto market and use professional and sophisticated methods to spot opportunities in crypto and other investments. Many private investors would love to get a glimpse into that world.
However, that opportunity does not come too often, but now it has. One of the largest market makers in the world, Jane Street, agreed to an interview about crypto and investing in other products such as DeFis. Although the name Jane Street is not familiar to every investor, this party has great influence on markets including the crypto market. Their transaction volume of 17 billion per day says it all. So you can learn something from the crypto interview with Jane Street that our colleagues at Tradeincrypto.com published. We will of course continue to follow the developments.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”