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.
Worldcoin, the innovative biometric wallet and ID project, is making significant waves in Chile as it surpasses a remarkable milestone. The organization has reported that over 200,000 Chileans have embraced Worldcoin, representing more than 1% of the country’s population. This surge in popularity mirrors similar trends in other South American nations, such as Argentina, where an astonishing 9,500 Argentines verified their IDs within a single day.
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More Stories on Digital Assets
Chase U.K. is set to block crypto-related payments starting October 16, with customers no longer able to make such transactions using debit cards or outgoing bank transfers. In an email to its customers, Chase made it clear that any attempts to make payments associated with crypto assets would be declined. Customers were advised that they are free to explore alternative banks or providers if they wish to invest in cryptocurrencies.
Bernstein’s recent analysis indicates that the crypto fund management industry currently stands at approximately $45-50 billion in assets. However, the firm foresees a substantial growth potential, with expectations that it could burgeon to a staggering $500-650 billion within the next five years. This projection is rooted in the belief that the cryptocurrency industry is evolving from its current status as a relatively small “cottage industry” to becoming a formally regulated asset management sector.
Tether, the company known for the world’s leading stablecoin, has made a strategic investment in Northern Data Group (ETR: NB2) through its subsidiary, Damoon. With an $83 billion market capitalization, Tether is diversifying its investments beyond fintech, including energy production, bitcoin mining, and communications technology.
Nomura’s (TYO: 8604) digital assets subsidiary, Laser Digital, has unveiled its Bitcoin Adoption Fund, marking a significant move in the realm of institutional investment in digital assets. This fund represents the inaugural offering in Laser Digital Asset Management’s series of digital adoption investment solutions. It is designed to provide institutional investors with a streamlined avenue to tap into the digital asset class.
Grayscale has filed for a new Ethereum futures exchange-traded fund (ETF) under the Securities Act of 1933, diverging from its previous attempts under the Investment Company Act of 1940, according to a Wall Street Journal report.
Blockchain Capital, a prominent crypto-focused investment firm, has achieved a remarkable feat by raising $580 million for two new investment funds dedicated to various sectors including infrastructure, gaming, DeFi (Decentralized Finance), and consumer technologies.
In a recent statement, renowned author Robert Kiyosaki, famous for his book “Rich Dad Poor Dad,” boldly declared that cryptocurrency is the future while fiat money, including the U.S. dollar, is on the brink of obsolescence. Kiyosaki’s perspective stems from his belief that fiat currencies are essentially “fake money,” contrasting them with what he calls “God’s money,” represented by gold and silver, and “people’s money,” represented by Bitcoin.
Digital Assets: A New Ethereum ETF From Hashdex Proposes To Hold A Mix Of Physical Ether And Futures
Nasdaq has submitted a filing with the Securities and Exchange Commission (SEC) to list an Ethereum Exchange-Traded Fund (ETF) offered by the Brazilian asset manager Hashdex. This ETF, named the Hashdex Nasdaq Ethereum ETF, aims to diversify its holdings by including both spot ether and futures contracts in its portfolio. Toroso Investments, which manages and oversees the fund, is registered as a commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association.
Franklin Templeton, a major financial services firm, has entered the competitive race for a spot Bitcoin exchange-traded fund (ETF). In its filing with the U.S. Securities and Exchange Commission, the company proposed a Coinbase-custodied ETF that would trade on Cboe BZX Exchange, Inc.
Environmental advocates in New York are vehemently opposing the renewal of an air permit for a cryptocurrency mining facility in North Tonawanda. They argue that this operation not only threatens the quality of life for local residents but also contradicts the state’s climate goals.
Faruk Fatih Özer, the former CEO of the Turkish cryptocurrency exchange Thodex, has been handed a staggering 11,196-year prison sentence and a $5 million fine by a Turkish court. This severe penalty stems from a slew of charges, including his alleged involvement in the establishment, management, and membership of an organization, qualified fraud, and money laundering.
In August 2023, Riot Blockchain Inc (NASDAQ: RIOT), a Texas-based bitcoin mining company, experienced a significant boost in revenues, primarily driven by Demand Response Credits and power credits. Despite producing 11% fewer bitcoins compared to the same month in 2022, Riot witnessed a staggering 2,933% year-on-year increase in Demand Response Credits. Revenues generated from power credits soared by 709%, resulting in a total of $31.6 million in combined revenues from energy credits.
Coinbase has introduced a new crypto lending service tailored for institutional clients in the United States. This move is in response to filling the void created by challenges faced by companies like Genesis and BlockFi. The announcement of this crypto lending program was made discreetly through a filing with the US Securities and Exchange Commission (SEC) on September 1. Coinbase seeks exemptions for this service under its subsidiary, Coinbase Credit, Inc., and Coinbase’s CFO, Alesia Haas, is mentioned as a related individual.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on spot bitcoin exchange-traded fund (ETF) applications, including those from BlackRock (NYSE: BLK), Fidelity, and others, until October. This delay, outlined in agency filings, has caused a 4.65% drop in the price of bitcoin over the past 24 hours, bringing it down to $25,961.12.
Nodal Power, based in Utah, has successfully raised $13 million in a seed funding round for its innovative technology that converts landfill gas into energy to power Bitcoin mining centers. The company aims to reduce methane emissions from landfills by utilizing the gas for mining operations.
However, the SEC may prefer an appeal against the ruling in favor of Grayscale. Grayscale, the digital asset management firm, has emerged victorious in its legal battle against the Securities and Exchange Commission (SEC). The U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of Grayscale, directing the SEC to overturn…
Mastercard (NYSE: MA) and Visa (NYSE: V) are stepping away from their card partnerships with Binance Holdings, a move that distances them from the cryptocurrency platform due to regulatory pressures globally. Visa has ceased issuing new co-branded cards with Binance in Europe since July, and Mastercard is set to completely end its card partnership with Binance in September.
SpyCloud, a leading provider of identity threat protection, has secured a $110 million growth round of funding led by Riverwood Capital. The company specializes in automating the safeguarding of digital identities against sophisticated cyber threats. SpyCloud’s innovative approach involves utilizing a proprietary engine to collect and analyze data from the criminal underground. This data is then used to automate the remediation of exposed authentication and identity information. The funding will be instrumental in driving global expansion, particularly in the realms of enterprise and consumer protection, investigations, and authentication bypass prevention.
Digital Assets: Solana Pay, A Payment Protocol Based On The Solana Blockchain, Integrates Into Shopify
Solana Pay, a decentralized payments protocol built on Solana by Solana Labs, has integrated with Shopify Inc. (NYSE: SHOP), a global commerce company. This integration enables millions of businesses to use Solana Pay as a payment option. Solana Pay offers real-time access to funds, improved working capital management, and direct payment settlement using USD stablecoins (USDC) compatible with Solana.
Genesis Digital Assets Limited (GDA), a prominent bitcoin mining company with a substantial hash rate, has announced a further expansion of its mining capabilities in Sweden. The new “sustainable” facility, operational since June 2023, is located in the northern part of the country and is currently equipped with an 8 MW data center.
Ledger and PayPal (NASDAQ: PYPL) have joined forces to simplify the process of entering and transacting in the world of cryptocurrency. The integration allows users to conveniently and securely transact cryptocurrencies through the Ledger Live companion app.
Stellar, a cross-border cryptocurrency payments network, has strategically invested in MoneyGram International, a prominent money transfer company, solidifying their years-long collaboration. Although the exact monetary value remains undisclosed, this move accentuates Stellar’s dedication to digital advancements in the fintech realm.
YieldMax™ has introduced a new ETF on August 15, 2023, titled YieldMax™ COIN Option Income Strategy ETF (NYSEARCA: CONY). It employs a synthetic covered call approach to generate monthly income from Coinbase Global, Inc. (NASDAQ: COIN).
London-based Jacobi Asset Management has launched today Europe’s first Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, ahead of the U.S. The Jacobi FT Wilshire Bitcoin ETF, trading under the ticker BCOIN, charges a 1.5% annual management fee and is listed on Euronext Amsterdam. Fidelity Digital Assets serves as custodian, while Flow Traders acts as market maker, with authorized participants including Jane Street and DRW.