The State of the Market: After billions were shaved from the total cryptocurrency market capitalization last weekend, the markets appear to be mounting a recovery — with an increase of $15 billion over the last 6 days. The recovery has largely been led by Bitcoin (BTC) and Ethereum (ETH) which posted respective gains of 4.6% and 5.5% — bringing the entire digital asset economy back up to a valuation of just over $270 billion.

1) Block.One, the publisher of EOS Blockchain Protocol has successfully closed a round of an undisclosed amount, which was led by Peter Thiel and Bitmain. Peter Thiel, the founder of PayPal and an early investor in companies like Facebook and AirBnb is bullish on cryptocurrencies and has been aggressively investing in early stage crypto startups. Bitmain, on the other hand, is the world’s largest ASIC miner-manufacturer which posted more profits than NVIDIA in the last quarter of 2017. This latest round follows earlier fundraising efforts led by Christian Angermayer, Lansdowne Investment Company Ltd, and Galaxy Digital’s Mike Novogratz (read more).

2) According to a recent press release, the New York Department of Financial Services (DFS) recently approved BitPay’s application for a ‘BitLicense’. The release stated that BitPay will now be “authorized to offer clearing and settlement services to merchants willing to accept payment in bitcoin or issue payments in bitcoin, and is the first wholesale payments processor to be approved for a license.” Historically, the hurdles for acquiring a BitLicense have been quite high, and the CEO of BitPay Stephen Pair remarked that he believed that “this hard work will pay off as New York presents significant business opportunities for BitPay” (read more).

3) The new crop of Wall Street analysts will be well versed in cryptocurrencies, as the required Chartered Financial Analyst (CFA) test will now include blockchain and digital currencies in the test materials. The decision to add crypto and blockchain content is in response to “surging interest,” in the technologies, according to Cointelegraph and CFA officials noted that cryptos proved they’re not just a passing fad (read more).

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