As part of its new corporate treasury strategy, Benzinga, a financial media and data provider, has begun crypto investment.

What Happened: Benzinga has collaborated with crypto brokerage firm TradeStation Crypto, a subsidiary of TradeStation Group, Inc., to allocate a portion of its cash reserves to cryptocurrency.

“As crypto news grows in popularity, Benzinga is making a short-term and long-term financial investment in digital assets,” said the company in a press release.

Benzinga could earn up to 6% per year on its crypto holdings through its TradeStation crypto account.

Crypto Investment

Why It Matters: “We are seeing increased participation in crypto investing at the corporate level, and we’re proud to educate and provide companies like Benzinga with the tools needed to invest in crypto assets,” said James Putra, Senior Director, Product Strategy at TradeStation Crypto.

Indeed, the media platform has joined a growing list of corporations that have incorporated Bitcoin (CRYPTO: BTC) and other cryptocurrencies into their treasury management strategy.

To date, 21 publicly traded companies have some of their cash reserves in Bitcoin. This is led by MicroStrategy Incorporated (NASDAQ: MSTR), which owns more than $5.2 billion in Bitcoin, and Tesla Inc (NASDAQ: TSLA), which owns $2.7 billion in the leading digital asset.

“Though not without some added risks, through higher interest rates and a bullish outlook on crypto, Benzinga has the potential to generate more cash in the short-term, while also investing in what could prove to be the monetary system of the future,” said Luke Jacobi, Director of Operations at Benzinga

What Else: Bitcoin has gained nearly 5% in the last 24 hours and is currently trading around $57,300. Overnight, the total crypto market cap increased by more than 9.16 percent, crossing $2.09 trillion for the second time.

Source : PrNewswire

Cryptocurrency in India

tesla Rssg6Z

Tesla Informs SEC It May Restart Transacting in Cryptocurrencies

Elon Musk’s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for ...
Read More
xrp coinbase KBO5qz

Coinbase CEO Says SEC v Ripple Case ‘Going Better Than Expected’ — Investors Hopeful XRP Will Be Relisted Soon

Coinbase CEO Brian Armstrong says the SEC v. Ripple case “seems to be going better than expected.” He added that the U.S. Securities and Exchange Commission “is realizing that attacking ...
Read More
auction nE1MCu

Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC

German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auction website reportedly experienced high traffic to bitcoin listings, with 4,000 new registered users over the past ...
Read More
assemble protocols asm token is officially listed on coinbase and gate io 8bmdM4

ASSEMBLE Protocol’s ASM Token Is Officially Listed on Coinbase and

PRESS RELEASE. The revolutionary blockchain-based global point integration platform ASSEMBLE Protocol has announced the listing of its utility token ASM on Coinbase, which has been followed swiftly after the ASM-USD ...
Read More
finders panel of fintech experts predict ethereum will reach 5114 this year over 50k by 2030 2wGXQT

Finder’s Panel of Fintech Experts Predict Ethereum Will Reach $5,114 This Year, Over $50K by 2030

At the end of July, the product comparison website published its research findings from a panel of experts that predicted the crypto asset ethereum would reach $4.5K this year ...
Read More
Share with Others