While the regulatory pressures mounted, June did have its fair share of good – even historic – news. Case in point is El Salvador, which officially made Bitcoin legal tender.
Co-founder of GSR Rich Rosenblum talked to CNBC this morning about the recent sell-off in bitcoin, as well as China’s crackdown on crypto trading and mining.
Bitcoin began the month at $57,000 and has since endured substantial selling pressure leading to a monthly low of $30,000 on May 19th. Bitcoin is now hovering in the $32,000 to $39,000 range. Ethereum is currently settling at $2,500 after reaching an all-time high of over $4,100.
GSR today announced that it will be making its entire business operation – including Bitcoin mining – carbon neutral through a partnership with MOSS, becoming among the first miners to fully offset its carbon footprint.
GSR’s latest addition comes as the company continues to enhance the sophistication of the programmatic strategies that underlie its market making and trading operations.
“When new money flows into BTC, people are less focused on alts,” Rosenblum told CoinDesk. “Once it feels like the bullish pattern for BTC breaks down, people roll some of those profits into alts.”
Today, GSR is excited to announce that it has appointed former Winton Group co-COO Andrew Moss as Managing Director of GSR Capital.
The cat is out of the bag for Institutions. The world’s leading banks and institutions are scrambling to keep up with demand for bitcoin products.
The Visiola Foundation was created to help address the low numbers of skilled STEM professionals in Africa, and especially the low number of women pursuing STEM careers. STEM skills will be the great equalizer for industrial development and the link between technology and socio-economic development.