Cat Digital Assets

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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Digital Assets: Crypto Contagion Spreads To Miners – Iris Energy Unplugs Mining Hardware Amidst Default

November 22, 2022

Iris Energy (NASDAQ: IREN), the Australia-based bitcoin mining firm, said in a filing that it had taken down a large chunk of its mining capacity that had been used as collateral for a loan of $107.8 million. Iris defaulted on the said loan because the operation did not produce cash flow enough to service the loan obligations. The development is symptomatic of the financial stress prevalent in the digital assets market after a severe bear market led to the insolvencies of many key players including FTX, Voyager Digital, and Celsius.

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More Stories on Digital Assets

Digital Assets: Coinbase Reports A Net Loss Of $545M In The Third Quarter As Trading Volumes Decline

November 4, 2022

Crypto exchange Coinbase (NASDAQ: COIN) has reported disappointing numbers for the September quarter, with its perfomance impacted by the bearish conditions prevailing in the digital assets market, and the consequential impact on transaction revenues.

Digital Assets: Digital Platform Bakkt Acquires Apex Crypto For $200M

November 4, 2022

Digital asset platform Bakkt Holdings (NYSE: BKKT) has acquired Apex Crypto, a turnkey platform for crypto trading, for a maximum purchase price of $200 million. Of this, Bakkt will initially pay $55 million in cash upon the closing, and another $45 million in its stock subject to the achievement of certain financial targets by Apex in the fourth quarter of 2022. Depending upon the achievement of another set of financial targets by 2025, Bakkt may pay an additional $100 million in its stock and seller notes.

Digital Assets: Sam Bankman-Fried’s FTX Crypto Exchange Is Now Live In The U.A.E.

November 4, 2022

FTX has announced that it has gone live in the UAE, though its services are initially available only to qualified retail investors, accredited investors and institutions. It will function in the UAE as FTX MENA FZE.

Digital Assets: Three Crypto ETFs Fold Up In Australia Amidst Downturn

November 3, 2022

Investors cold-shouldered the Cosmos ETFs in the so-called “crypto winter.” The Cosmos Purpose Bitcoin Access ETF, Cosmos Purpose Ethereum Access ETF, and Cosmos Global Digital Miners Access ETF, all of which were trading on the Cboe exchange in Australia, have applied for delisting, less than a year after their much-publicised launch. (COIN TELEGRAPH) Cosmos Asset…

FinTech: MoneyGram Launches Crypto Transactions Via Its App

November 2, 2022

MoneyGram International (NASDAQ: MGI) has launched crypto trading via its app, allowing customers the facility to buy, sell, and hold the bitcoin, ethereum, and litecoin cryptocurrencies. This feature is made possible through MoneyGram’s existing partnership with Coinme, a licensed crypto exchange and API-driven crypto-as-a-service provider. MoneyGram and Coinme have partnered since 2021 to expand access to crypto by creating thousands of new locations in the U.S. for consumers to buy and sell bitcoin with cash.

Digital Assets: Google Cloud Launches Blockchain Node Engine, A Fully Managed Node-Hosting Service

October 28, 2022

Google Cloud announced today a product for fully managed node-hosting for Web3 development – its Blockchain Node Engine – which minimizes the need for node operations. The Blockchain Node Engine will first support the Ethereum blockchain, providing developers with fully managed Ethereum nodes with secure blockchain access.

Digital Assets: FTX CEO And Billionaire Sam Bankman-Fried Confirms The Crypto Platform May Launch Stablecoin

October 28, 2022

FTX CEO and crypto billionaire Sam Bankman-Fried said during an interview with The Big Whale that FTX would probably launch its own stablecoin, thus joining the ranks of other crypto exchanges such as Binance, with its Binance USD (BUSD) issued by Paxos, and Coinbase, which launched the USD Coin (USDC) stablecoin in collaboration with Circle.

Digital Assets: Blockchain.com Launches Marqeta-Powered Visa Debit Card For Crypto

October 27, 2022

Blockchain.com has launched its Blockchain Visa debit card that leverages Visa’s (NYSE: V) payments network and Marqeta’s (NASDAQ: MQ) modern card issuing platform to let U.S. residents spend from a crypto balance fee-free and earn 1% crypto rewards.

Digital Assets: Tel-Aviv Stock Exchange Outlines Plans For Crypto

October 25, 2022

The Tel-Aviv Stock Exchange (TLV: TASE) has outlined four goals in its strategic plan for the years 2023-2027 one of which is “creating a platform for digital assets using blockchain (digital ledger technology) and venturing into crypto.”

Digital Assets: Brazilian Digital Bank NuBank To Float Own Crypto For Rewards Program

October 21, 2022

Buffett-backed, Brazilian digital bank Nubank (NYSE: NU) announced Wednesday its plans to launch Nucoin, a digital token as “a new way to recognize customer loyalty and encourage engagement with Nubank products.” The move would also mark the neo bank’s move into crypto assets.

Digital Assets: Walmart Global CTO Says Crypto To Play Big Role In Payments

October 20, 2022

Walmart (NYSE: WMT) global CTO, Suresh Kumar made it very clear Tuesday that he envisaged a major role for crypto in the company’s future: “Crypto will become an important part of how customers transact. We want to make sure that we make it as friction free for customers to be able to transact, and to be able to buy, and how they are able to derive value out of it.”

Digital Assets: Retail Vigilantes Join In The Global Race To Nab Do Kwon

October 19, 2022

Kang Hyung-suk, who used to work in Do Kwon’s cryptocurrency operator Terraform Labs in Seoul, belongs to the UST Restitution Group, which is trying to locate Do Kwon alongside Interpol and South Korean authorities. Do Kwon is wanted in South Korea on charges of financial fraud.

Digital Assets: FTX And Its Billionaire Owner Sam Bankman-Fried Being Investigated By Texas State Securities Board

October 18, 2022

Joe Rotunda, the enforcement director of the Texas State Securities Board (TSSB), found that he could easily apply to join FTX’s yield-earning offering even though he listed his Austin address. The problem? FTX has not registered to sell securities in Texas. It appears, therefore, that FTX has been offering unregistered securities to Texas residents through its yield-bearing cryptocurrency accounts – a matter under investigation by the TSSB since last week.

Digital Assets: Uniswap Lands $165M Series B At $1.66B Valuation

October 14, 2022

Uniswap, which intends to bring Web3 to everyone, announced a $165 million Series G round led by Polychain Capital and with participation from existing investors a16z crypto, Paradigm, SV Angel, and Variant. The round valued the company at around $1.66 billion.

Digital Assets: Cumulative Transactions In The Digital Yuan (e-CNY) Exceed 100.04B Yuan ($13.9B)

October 14, 2022

In statistics unveiled by the People’s Bank of China, the country’s CBDC, known as e-CNY, has amassed a cumulative value of 100 billion yuan ($13.9 billion) as of Aug. 31, 2022. Given the number of transactions during the period was 360 million, the average value of a transaction was 278 yuan.

Digital Assets: Using The Metaverse To Restore Chinook Salmon To A Native American Watershed In California

October 13, 2022

Pom, a Native American tribe leader in Northern California, will use blockchain to revive the native species of Chinook salmon his community once relied on. Pom and his team have created Salmon Journeys, a video game on Decentraland. A user who snags a Chinook salmon in the game wins an exclusive non-fungible token (NFT) by Sawalmen, a Web3 entity that represents Indigenous spiritual values and raises funds for restoration efforts and the landback movement.

Digital Assets: Google Cloud And Coinbase Partner On Web3

October 12, 2022

“Over the next few years, we believe every company and developer will be building on Web3 — to the point where Web3 will become synonymous with the internet itself,” says Coinbase (NASDAQ: COIN) in a blog post announcing its Web3 partnership with Google Cloud. The cloud and digital asset giants have come together to address the potential of Web3.

Digital Assets: BNY Mellon’s Digital Asset Custody Platform Is Live In The U.S.

October 12, 2022

BNY Mellon, the investment arm and a brand name of the Bank of New York Mellon Corporation (NYSE: BK), announced that select clients would now be able to hold and transfer bitcoin and ether on its newly-launched Digital Asset Custody platform.

FinTech: Visa And Global Crypto Exchange FTX Tie Up For FTX-Branded Debit Cards

October 7, 2022

Sam Bankman-Fried owned FTX has struck a long term global partnership with Visa (NYSE: V) that will kick off with the issue of FTX-branded Visa debit cards to FTX customers internationally—with a focus on countries in Latin America, Europe and Asia in the initial phases of the rollout.

Digital Assets: Hacker Steals $570M Of The Binance BNB Token By Exploiting Cross-Chain Bridge Linking

October 7, 2022

A hacker has forced crypto exchange Binance to temporarily suspend its BNB Chain blockchain after they looted $570 million worth of its BNB token by targeting a cross-chain bridge linking with it. A vulnerability allowed them to move the BNB tokens off the network. Binance is the world’s largest crypto exchange by trading volume.

Venture Capital: CyberSecurity Companies Arctic Wolf And NetSPI Rake In The Big Bucks

October 6, 2022

Two big fund rounds, both in excess of $400 million, showed investors’ willingness to back cybersecurity startups despite the dismal conditions in financial markets. While KKR invested $410 million in NetSPI, Arctic Wolf got a $401 million infusion through convertible notes.

Digital Assets: SWIFT Experiments Show CBDCs, Digital Assets Can Move Cross-Border On Existing Financial Infrastructure

October 6, 2022

SWIFT conducted two separate experiments to assess interoperability in cross-border transactions between traditional payment systems, Central Bank Digital Currencies (CBDCs), and tokenised assets. SWIFT found that fiat money, CBDCs and digital assets could seamlessly be moved across the existing global financial infrastructure.

Alternative Investments/Digital: Fidelity Launches Ethereum Index Fund For Accredited Investors

October 6, 2022

The fund (not an ETF) has already amassed $5 million in assets. Fidelity Investments, the multi-trillion dollar asset manager, is launching the Fidelity Ethereum Index Fund, according to an Oct. 4 filing with the Securities and Exchange Commission. It will provide investors with exposure to ETH, or the Ether cryptocurrency. The new fund is housed…

Digital Assets: NYDIG Builds On Solid Q3 With $720M Raise, And C-Suite Rejig

October 5, 2022

Bitcoin company NYDIG on Monday announced top-level changes, promoting executives Tejas Shah and Nate Conrad to the roles of CEO and President, respectively. Shah and Conrad were previously NYDIG’s Global Head of Institutional Finance and Global Head of Payments, respectively. Prior to joining NYDIG in 2020, Shah had a nearly 20-year career at Goldman Sachs where he was a partner. Conrad joined Stone Ridge in 2016 and NYDIG in 2020, after also beginning his career at Goldman Sachs.