Bitcoin price decline continues after hitting $ 50,000
Bitcoin traded more than 3% less Wednesday morning.
The price was around $ 48,150 per piece, while rivals Ethereum and Dogecoin were trading around $ 3,180 and 29 cents per coin, respectively, according to Coindesk.
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Citigroup is considering offering bitcoin futures contracts to some of its institutional clients, according to Coindesk.
Increased demand in the cryptocurrency space was cited by a spokesperson for the bank.
Bitcoin prices topped $ 50,000 earlier this week as adoption by businesses and the general public accelerates.
Citi is awaiting regulatory approval to begin trading bitcoin futures on the Chicago Mercantile Exchange, citing a source within the bank.
“Given the many questions regarding regulatory frameworks, supervisory expectations and other factors, we are very careful with our approach,” a spokesperson for Citi said in an email to Coindesk.
BITCOIN PRICE JUMPS TO $ 50K IN RECOVERY
If approved, Citigroup would join Goldman Sachs in offering bitcoin futures trading.
In other cryptocurrency news, Budweiser is branching out into non-fungible tokens (NFTs).
Budweiser added a profile photo of a rocket designed by artist NFT Tom sachs. to his Twitter page.
Coindesk also reported that the brewer bought the Beer.eth domain name for 30 ethers, or around $ 95,000.
Budweiser had not responded to Coindesk for comment.
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CoinDesk announced last month that the beer brand is investing in a new NFT media store that will see intellectual property packaged and sold as NFT.