Digital Assets
Digital assets are about more than just Bitcoin. The global adoption of blockchain, expansion of cross-border payments, new investment vehicles tied to intellectual property, and more, could one day establish a global market of digitized assets worth $50 trillion. This channel provides access to the latest developments, opportunities, risks, and thought leaders in the growing Digital Assets space.
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Fashion brand Aéropostale has partnered with MetaversePlus and Authentic Brands Group to create an immersive experience for its fans in the metaverse. The partnership will use non-fungible tokens (NFTs) and virtual experiences to build community and offer members-only perks and promotions.
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More Stories on Digital Assets
Digital Assets: Cathie Wood’s Ark Investment Raises $16.3M For Two Private Crypto Funds
Cathie Wood’s Ark Investment has launched two new private crypto funds, raising over $16 million from investors. The funds, split between a domestic and a Cayman Islands-based version, are open-ended and available only to a small number of investors.
Digital Assets: Federal Support Action For Resolving SVB And Signature Bank Crises
The US Government has taken swift action to stem the economic backlash from the failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank. While Silvergate and Signature were both crypto-focused banks, Silicon Valley was the go-to bank for the venture capital industry. Silvergate, however, voluntarily chose to down shutters. A statement from the Department of Treasury detailed a concerted strategy to protect depositors at SVB and Signature.
FinTech: Worldline Launches White-Label Shopping Mall In The Metaverse
Global payment services provider, Worldline, has launched a shopping mall in Decentraland to help companies across all industries get an easy entry into the Web 3.0 world, and create an initial presence in the Metaverse. The white-label solution provides retailers, service providers, and banks with an opportunity to prepare for the Metaverse now and gain initial experience ahead of the estimated global market volume of Metaverse commerce of between $2 and $2.6tn by 2030.
Digital Assets: Silvergate Announces Voluntary Liquidation
Silvergate Capital Corporation (NYSE: SI) has announced its intention to wind down operations and voluntarily liquidate Silvergate Bank due to recent industry and regulatory developments. The bank’s wind down and liquidation plan includes repaying all deposits.
Digital Assets: Powell Offers Mixed Views On Crypto In Senate Testimony
Speaking before the Senate Committee on Banking, Housing, and Urban Affairs, Federal Reserve Chairman Jerome Powell acknowledged the potential of blockchain technology for practical applications in the real world and said that the central bank doesn’t want to stifle crypto innovation, but warned of the industry’s fraud and risks.
Digital Assets: Crypto Exchange Bybit Ties With Mastercard To Launch Crypto Debit Cards
Bybit, the world’s third-largest cryptocurrency exchange, has launched a debit card, Bybit Card, powered by Mastercard (NYSE: MA) and issued by Moorwand, enabling users to convert their crypto balances into fiat currency to purchase goods and services or withdraw cash from ATMs directly.
Digital Assets: Key Crypto Players Sever Links With Silvergate Capital
On March 2nd, four firms related to cryptocurrency announced that they will no longer be doing business with Silvergate Capital (NYSE: SI). This decision was made after Silvergate revealed in an SEC filing that it was delaying its annual report due to ongoing investigations. (PYMNTS)
Digital Assets: Binance Creates AI-Fueled Frenzy On Bicasso, Its NFT Generator
Binance, the largest cryptocurrency exchange by trade volume, has announced the launch of Bicasso, an AI-based art generation platform that allows users to create and mint NFTs on demand. The beta version of Bicasso was launched on March 1, but the overwhelming demand for the platform caused technical issues, with the hard cap of 10,000 NFT mints selling out within just 2.5 hours.
Digital Assets: Tel Aviv Stock Exchange Circulates Discussion Paper To Allow Crypto Trading
The Tel Aviv Stock Exchange (TASE) has proposed regulatory amendments that would allow clients of non-banking institutions (NBMs) to trade cryptocurrencies. NBMs, which provide investment, advisory, and brokerage services, currently cannot accept direct deposits or act as custodians, but TASE intends to expand their authorized activities to include crypto trading.
Digital Assets: Coinbase to Delist Binance-Branded BUSD Stablecoin Effective March 13
However, Coinbase assures that holders can withdraw their BUSD funds anytime. Coinbase (NASDAQ: COIN), one of the largest crypto exchanges in the world, has announced that it will suspend the trading of Binance-branded BUSD stablecoin on its platform, citing its failure to meet Coinbase’s internal listing standards. The stablecoin will be de-listed on March 13th…
Digital Assets: G20 Asks The IMF And FSB To Prepare Technical Paper On Global Crypto Regulation
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) are working together to develop a technical paper that proposes a coordinated global approach for regulating crypto assets. The paper will be presented at the next meeting of G20 Finance Ministers and Central Bank Governors in October.
Digital Assets: Russian Perpetrators Of Ponzi Forsage DeFi Platform Indicted
Four individuals from Russia, Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov, have been indicted in the US for allegedly running a global Ponzi scheme through their decentralized finance (defi) crypto platform, Forsage. The US Justice Department announced that the platform had defrauded investors of around $340 million. The accused are each charged with conspiracy to commit wire fraud and could face a maximum of 20 years in prison if found guilty.
Digital Assets: Binance And Ingenico Tie Up For In-Store Crypto Payments In France
Ingenico, the world leader in payment acceptance solutions, has partnered with Binance, the world’s largest blockchain ecosystem and digital asset exchange, to offer an in-store cryptocurrency payment acceptance solution in France.
Digital Assets: Another Casualty From The FTX Saga – Crypto Hedge Fund Galois Capital Shuts Down
Quantitative hedge fund Galois Capital has decided to close down and return remaining money to investors after half of its assets were trapped on the collapsed cryptocurrency exchange FTX, according to documents seen by the Financial Times.
Digital Assets: Hong Kong Releases ‘Consultation Paper’ On Digital Assets; Beijing Looks On
The Securities and Futures Commission (SFC) of Hong Kong has proposed new regulations for the cryptocurrency industry (“virtual asset trading platforms”), and has requested feedback from the public. The proposed rules are set to go into effect on June 1, 2023, and include stricter guidelines for cryptocurrency trading platforms, such as licensing and investor protection measures.
Alternative Investments/Digital: BlackRock Unveils Metaverse Themed ETF
BlackRock, one of the largest ETF issuers in the US, has launched a thematic equity fund targeting companies worldwide that are shaping the development of the metaverse, a future iteration of the internet comprising persistent, shared, 3D virtual spaces linked into a perceived virtual universe. The iShares Future Metaverse Tech and Communications ETF (NYSEARCA: IVRS) has been listed with an expense ratio of 0.47%.
Digital Assets: Amidst Crypto Winter, Singapore’s DBS Bank Enjoyed Robust Growth At Its DDEx Digital Exchange
Singapore-based DBS Bank has revealed impressive growth at its DBS Digital Exchange (DDEx) during 2022. It reported an 80% increase in the number of Bitcoin (BTC) traded on DDEx in 2022 compared to the previous year, and a doubling in the number of BTC custodized with the bank. The number of Ether (ETH) traded on DDEx was also up by around 65%.
Digital Assets: Abu Dhabi Creates $2B Warchest For Web3, Blockchain, And Metaverse Startups
Abu Dhabi is committing over $2 billion to a new program, “Hub71+ Digital Assets,” aimed at financing startups in the Web3, blockchain, and metaverse application fields. This ecosystem will be located at Hub71 in Abu Dhabi Global Market (ADGM).
Digital Assets: Berkshire Hathaway’s Charlie Munger Delivers Fresh Diatribe Against Crypto
Charlie Munger, the Vice Chairman of Berkshire Hathaway (NYSE: BRK.A), has referred to people who oppose banning cryptocurrencies as “idiots” and said that anyone buying crypto is “ridiculous.” He was speaking during a live-streamed interview with CNBC at the Daily Journal’s annual shareholders meeting.
Digital Assets: Hong Kong The New Mecca For Crypto Providers?
Interactive Brokers and DBS to unveil crypto trading in Hong Kong. Meanwhile, Bakkt is sunsetting its consumer app.
Digital Assets: Financial Doom And Gloom Warnings From Kiyosaki, Schiff
Robert Kiyosaki and Peter Schiff have both issued dire warnings about the precarious status of the financial markets. While Kiyosaki is the acclaimed author of “Rich Dad Poor Dad”, Schiff is an economist and inveterate gold bug.
Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and BNB at over 90 million Mastercard merchants globally. However, the user must have a valid national ID.
Digital Assets: NBA and Meta Extend Collaboration For Basketball In The Metaverse
The NBA has announced an extension of its partnership with Meta to broadcast 52 games using virtual reality technology in the metaverse. The games will be available on Xtadium, a co-viewing platform, and five of them will be presented in a more immersive way on Horizon Worlds, Meta’s flagship metaverse app. This move aims to provide existing fans with a more interactive experience and attract new fans familiar with VR technology to the sport.
Digital Assets: Bitcoin Infrastructure Company Blockstream Raises $125M
Blockstream, a leading Bitcoin infrastructure firm, has raised $125 million in convertible note and secured loan financing to expand its institutional bitcoin mining services. Kingsway Capital led the convertible note, with other investors including Fulgur Ventures.