By Kapil Rajyaguru
Crypto.com Plans To File Cronos ETF, Launch Stablecoin In 2025.
Cryptocurrency exchange Crypto.com has made launching an exchange-traded fund (ETF) for its native token, Cronos, a priority this year, highlighting the growing institutionalization of digital assets.
According to Crypto.com’s 2025 roadmap, the exchange plans to file the ETF submission in the fourth quarter. The exchange did not provide any other details. Before its ETF submission, Crypto.com is planning to list stocks, stock options, and ETFs on its platform beginning in the first quarter.
It’s also planning to roll out new banking features, including personal multicurrency accounts and cash savings accounts. One of the most ambitious targets is the release of a new Crypto.com stablecoin by the third quarter.
Healthcare Tech Firm Semler Scientific Buys 871 Bitcoin, Yield Tops 150%.
Healthcare tech and software firm Semler Scientific said that it purchased more than $88 million worth of Bitcoin over the past few weeks and was holding a paper gain of over 150%. Semler said in a Feb. 4 press release that it purchased 871 Bitcoin between Jan. 11 and Feb. 3 for $88.5 million, at an average purchase price of $101,616 per BTC.
It also reported an aggregate yield of 152% from July 1—the first full quarter after it adopted its Bitcoin treasury strategy—to Feb. 3. It noted its yield so far this year was 22%. As of Feb. 3, Semler held 3,192 BTC, which were acquired for an aggregate of $280 million at an average purchase price of $87,854 per coin. The investment is worth around $313 million at current market prices.
Google Boss Expects To Spend $75bn On AI This Year.
Google CEO Sundar Pichai expects his company to invest around $75 billion in capital expenditures in 2025 to boost artificial intelligence offerings.
He said the investment would “accelerate progress” in AI innovation and continue to strengthen the company’s core businesses.
AI has been one of Google’s strongest revenue streams in the last few years, with overall revenue up 12% year-over-year at $96.5 billion.
Ohio Senator Introduces State’s Second Bitcoin Reserve Bill.
An Ohio lawmaker has introduced a second bill to allow the state to invest in Bitcoin to create a local reserve of the cryptocurrency.
Ohio Senate Bill 57, referred to the Financial Institutions, Insurance, and Technology Committee on Jan. 29, authorizes the state’s treasurer to invest state funds solely in Bitcoin to create an “Ohio Bitcoin Reserve Fund.” The bill mandates the holding of BTC investments for a minimum of five years and stipulates secure custody solutions for the asset.
The Ohio bill also requires state entities and government agencies to accept crypto for payments, including taxes, fees, fines, and other government charges. It also requires agencies to convert cryptocurrency to Bitcoin and deposit it in the reserve.
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