Crypto Flipsider News – Ripple Launches Liquidity Hub, Reddit’s

Read in the Digest

• to launch enterprise-grade service, Grayscale files for crypto and fintech ETF.
• Reddit invests $100 million to build decentralized social media on .
• Beeple’s first physical NFT sells for $29 million.
• Apple’s CEO, Tim Cook, confirms he owns cryptocurrency.

Ripple to Launch Enterprise-Grade Service, Grayscale Files for Crypto and Fintech ETF

The battle with the SEC has not stopped Ripple from growing and developing new projects. Ripple has announced a new service, the Liquidity Hub, aimed at institutional and enterprise-grade clients. The Ripple Liquidity Hub will launch in 2022.

Ripple’s Liquidity Hub will allow finance companies to buy, sell and hold digital assets at competitive prices from exchanges, market makers, and over-the-counter (OTC) trading desks. Ripple’s new service will grant institutional investors access to BTC, ETH, LTC, ETC, and BCH

Grayscale, one of the biggest proponents of crypto in 2021, has filed for a new fund that will “shape the future” of crypto. Digital asset manager filed an application with the SEC for their “Future of Finance” ETF to trade under the ticker, GFOF.

The new Grayscale fund is an alternative way for investors to gain crypto exposure as the fund tracks shares in FinTech and crypto firms. If approved by the SEC, GFOF would also track crypto equities.

Flipsider:

• The SEC has reportedly delayed the Grayscale Bitcoin Spot ETF, which was predicted to be approved in November.

Why You Should Care

The new services from Grayscale and Ripple are looking to bring more enterprises and individuals into the crypto industry.

Reddit Invests $100 Million to Build Decentralized Social Media on Solana

Alexis Ohanian, the co-founder of Reddit, has teamed up with Solana’s co-founder, Raj Gokal, to announce a $100 million investment into a decentralized social media platform that will be built on the Solana blockchain. The announcement was made at the ongoing Solana Breakpoint conference in Lisbon.

Ohanian had initially planned to invest $50 million through his venture fund called Seven Seven Six, however, Solana’s co-founder reasoned that the amount might not be enough. As a result, he indicated that the entire investment would be worth closer to $100 million.

Commenting on his partnership with Solana, a high-performance blockchain building the internet of tomorrow, Ohanian noted;

“We are at a pivotal inflection point in these early days of Web3, and I couldn’t be more energized to partner with Solana to support companies who are building for this exciting new era of social.”

Flipsider:

• Solana’s September blackout exposed some technical issues of the network and raised questions about the ability of the project to handle the decentralized social media of tomorrow.

Why You Should Care

The funds will be used to build a decentralized…