Bitcoin extended its rally on Thursday, surpassing the $30,000 mark for the second time this year. The cryptocurrency has been on an upward trajectory since last week after BlackRock announced it had applied to the U.S. Securities and Exchange Commission for a spot bitcoin exchange-traded fund (ETF). Amongst altcoins, Stacks (STX), the native token of Bitcoin layer 2 Stacks Network, gained 16% on the day. CACEIS, the asset servicing arm of banking giants Credit Agricole and Santander, has been registered by French regulators to provide crypto custody services. Three Arrows Capital (3AC) is stirring up the crypto community again, this time with a surprise comeback using the same name, only in the guise of a venture capital (VC) firm.
Bitcoin has been on a tear since BlackRock’s announcement of a potential bitcoin ETF, with altcoins such as Stacks (STX) also seeing gains. CACEIS, the asset servicing arm of Credit Agricole and Santander, has been registered by French regulators to provide crypto custody services. Meanwhile, Three Arrows Capital (3AC) has made a surprise comeback as a venture capital (VC) firm.
"Bitcoin extended its rally on Thursday after surpassing the $30,000 mark for the second time this year the day before," said CoinDesk’s daily newsletter First Mover. "Some traders have been speculating that with the recent positive news for bitcoin from institutional players, other assets related to bitcoin have also performed well."
The European Union is preparing to impose new crypto licensing rules known as MiCA as of 2024, and CACEIS is one of the traditional finance firms recognized under one of the most advanced crypto regulatory frameworks in Europe. 3AC Ventures has a website that says the new firm "is focused on superior risk-adjusted returns without leverage."