Former U.S. Treasury Secretary Dr. Lawrence H. Summers last Friday (January 15) talked about Bitcoin and why its price should continue to go up in the long term.

The CEO of digital asset manager Grayscale Investments, Michael Sonnenshein, has revealed the firm raised over $700 million on January 15, hitting a new record for daily inflows.

Popular cryptocurrency exchange Kraken is set to halt XRP trading for U.S. users over the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.

Sponsored: ClinTex’s mission is to provide a solution that will eliminate delays in production and will make all medicines affordable and available to anyone in need.  Especially in times when the world is going through the COVID-19 pandemic, ClinTex’s mission is more relevant than ever.

Top stories in the Crypto Roundup today:

• Bitcoin ‘Is Here to Stay’, Says Former U.S. Treasury Secretary Larry Summers
• Grayscale Sees $700 Million Inflows In Largest Daily Asset Raise to Date
• Kraken to Halt XRP Trading for U.S. Users
• LINK, YFI, WAVES Are Moving in the Crypto Market
• Sponsored: Reducing Medicine Development Costs And Time Through Blockchain Technology

Bitcoin ‘Is Here to Stay’, Says Former U.S. Treasury Secretary Larry Summers

Former U.S. Treasury Secretary Dr. Lawrence H. Summers last Friday (January 15) talked about Bitcoin and why its price should continue to go up in the long term.

Summers’ comments about Bitcoin were delivered while being interview on Bloomberg TV’s “Wall Street Week” by David Westin. When asked whether he believes bitcoin is a bubble, he said he was not going to predict its fluctuations over the next six months.

The former U.S. Treasury Secretary added he doesn’t believe the “whole thing is going to collapse,” but noted it looks resilient and as such “people are going to move towards it,” and as that happens “given the finiteness of its supply, that’s going to be a factor working to raise prices.”

Back in 2016, it’s worth noting, Digital Currency Group (DCG), an investor in some of the best-known businesses in the crypto space, such as Abra, Coinbase, Coindesk, BitGo, and Ripple, as well as the parent company of Grayscale Investments, announced that Summers was joining the firm as a Senior Advisor.

Grayscale Sees $700 Million Inflows In Largest Daily Asset Raise to Date

The CEO of digital asset manager Grayscale Investments, Michael Sonnenshein, has revealed the firm raised over $700 million on January 15, hitting a new record for daily inflows.

In the last quarter of 2020, Grayscale raised $3.3 billion across its cryptocurrency investment vehicles, a new record for the company that further shows institutional investors are moving into the cryptocurrency space.

The Grayscale Bitcoin Trust (GBTC), was the company’s most popular product, raising $217 million every week in Q4 2020. As of January 15, Grayscale had a record $27.1 billion under management, after entering 2020 with $2 billion.

Grayscale offers investors trusts in other cryptoassets – including ether, bitcoin cash, and litecoin  – allowing investors to gain exposure to cryptoassets without having to manage any private keys.

Kraken to Halt XRP Trading for U.S. Users

Popular cryptocurrency exchange Kraken is set to halt XRP trading for U.S. users over the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.

The lawsuit was filed on December 22,  one day before former SEC Chairman Jay Clayton resigned, and names Ripple’s two of its executives, who are also significant security holders, alleging that they “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.”

Kraken’s U.S. users will be unable to trade XRP from Jan. 29 at 5 p.m. PT. Those with spot positions on margin must satisfy outstanding margin obligations by the close of January 28 or face liquidation. Holding, depositing, and withdrawing XRP will still be possible after that date.

The exchange said:

“We are monitoring the situation regarding the SEC’s filing and will adapt according to any new developments.”

The exchange’s decision only affects U.S. users.

LINK, YFI, WAVES Are Moving in the Crypto Market

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Chainlink (LINK) – Chainlink is a blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, various web APIs, and traditional bank account payments. LINK is up 10.29% in the last 24 hours.

Yearn.Finance (YFI) – The purpose of Yearn.Finance is simple. Yield aggregator for lending platforms that rebalances for the highest yield during contract interaction. YFI is up 18.29% in the last 24 hours.

Waves (WAVES) – Waves, an open platform for Web 3.0 applications and decentralized solutions, has seen its WAVES token jump 21.51% in the last 24 hours.

Reducing Medicine Development Costs And Time Through Blockchain Technology

ClinTex’s mission is to provide a solution that will eliminate delays in production and will make all medicines affordable and available to anyone in need.  Especially in times when the world is going through the COVID-19 pandemic, ClinTex’s mission is more relevant than ever.

Research papers indicate that clinical trials are normally held in 4 different stages until a drug is brought to market. The full cycle takes between two and four years and over $2.57 billion costs on average.

A large part of the expenses comes from data acquisition, management, analysis and utilization. This expense is drastically reduced with ClinTex’s use of smart contracts and distributed ledger technology (DLT). Seven different application tools developed by ClinTex aim to solve different problematic areas:

• The CTi Operational Excellence (OEM) application grants users with provision of data-driven insights into waste reduction in clinical trials. 
• The Predictive Analytics (PDA) tool uses historical data, combined with machine learning, to predict future problems before they arise. 
• The Site Investigators (SIM) tool helps recruit medics for conducting clinical trials and payment management. 
• A patient recruitment and retention application, dubbed PRR, for monitoring patient activity and recruiting new patients for different phases of the clinical trials. 

• The Vendor Management (VMM) application, which ensures the quality of clinical trials data by labs and third parties.
• The Risk-based Monitoring (RBM) tool ensures effective resource deployments for areas in higher risk.
• Clinical Data Visualization (CDV) tool to provide users with visual analytics for a hassle-free decision-making process. 

At the core of the CTi platform lies the native CTi token, which is now traded on KuCoin exchange. For more information about the project and how to take part in the token sale, please visit our token sale page.

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