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.

Top Story

Digital Assets: Colonial Pipeline Caved; Paid $5M Ransom To Hackers

May 14, 2021

Though initial reports said that Colonial Pipeline would not pay a ransom to the hackers that brought the nation’s largest fuel pipeline to a halt, Bloomberg reported Thursday that the company did pony up nearly $5 million in hard-to-track cryptocurrency last Friday.

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More Stories on Digital Assets

Digital Assets: Musk To Bitcoin – It’s Not Me, It’s You

May 13, 2021

Elon Musk has suddenly got religion on bitcoin. He announced in a tweet on Wednesday that Tesla (NASDAQ: TSLA) will no longer sell its cars for bitcoin due to the leading cryptocurrency’s carbon footprint and consequently adverse effect on the environment.

Digital Assets: Palantir Accepts Bitcoin Payments; Mulls Adding Cryptos To Balance Sheet

May 12, 2021

Secretive data analytics company Palantir (NYSE: PLTR) revealed on its first-quarter earnings call that it had already begun accepting bitcoin as payment from its customers and that it was also considering holding bitcoin, as well as other cryptos, on its balance sheet.

Alternative Investments/Digital: Ninepoint’s Bitcoin ETF To Offset Carbon Footprint Of Bitcoin Holdings

May 12, 2021

Bitcoin has been getting a lot of flak recently for the impact that its mining has on the environment. As verification computations get more complex, bitcoin mining rigs consume more and more energy for generating mining rewards. This process becomes a vicious circle when bitcoin prices are on a rally because it becomes more profitable to mine and sell the cryptocurrency. ETFs and other funds holding bitcoin are becoming increasingly concerned about the carbon footprint inherent in their holdings.

Alternative Investments/Digital: Mark Yusko Sees Bitcoin At $250K In Five Years

May 11, 2021

Mark Yusko’s Morgan Creek Capital Management has assets under management of about $2 billion. Assuming his usually bullish stance on bitcoin in an interview on Friday, Yusko said the leading crypto could scale a price of $100,000 in 2021 or 2022. He went further and said it could go up to $250,000 in five years.

Digital Assets: UBS Considering Cryptos For Rich Clients

May 11, 2021

A Bloomberg report said Monday that UBS Group AG (SWX: UBSG) was mulling avenues for investing in digital assets for its wealthy clients. It would follow banks across the pond such as Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS).

Digital Assets: Fairfax County Pension Fund Does Well On Crypto Fund Investment

May 11, 2021

The $1.4 billion Fairfax County Police Officers Retirement System did well last year on its investments in Morgan Creek Digital Fund III. The move paid off, allowing the pension fund to report good gains last year. Unsurprisingly, in April, the fund approved additional investments in the crypto and blockchain space.

Digital Assets: Colonial Pipeline Shut Down By Ransomware Attack

May 10, 2021

On Friday, Colonial Pipeline, the largest refined products pipeline in the United States, transporting more than 100 million gallons of fuel daily for consumers from Houston, Texas to the New York Harbor across 8,500 km, was shut down by a ransomware attack.

Digital Assets: Citigroup Heeds Clients; Mulling Cryptos

May 7, 2021

An FT Exclusive says Citigroup is weighing an entry into the cryptocurrency markets. Itay Tuchman, Citi’s (NYSE: C) global head of foreign exchange has told the FT that the bank is considering a foray into the cryptocurrency markets after seeing rising interest among its clients. “There are different options from our perspective and we are…

Digital Assets: Goldman Sachs’ Crypto Trading Desk Is Up And Running

May 7, 2021

An internal memo at Goldman Sachs (NYSE: GS) issued Thursday announced that its all-new crypto trading team had successfully traded certain bitcoin derivatives. According to CNBC, which saw the memo issued by Goldman partner Rajesh Venkataramani, the team is a part of the bank’s global currencies and emerging markets trading division and reports to him, though it is also a constituent of the digital assets unit led by Mathew McDermott.

FinTech: Surging Cash App Volumes Help Square Crush Q1 Market Expectations

May 7, 2021

Square Inc (NYSE: SQ) left analysts’ estimates in the dust with its numbers for the first quarter. The payments giant clocked quarterly revenues of $5.1 billion, well above analysts’ consensus of $3.34 billion and last year’s tally of $1.38 billion. It reported adjusted earnings of 41 cents per share, compared to expectations of 17 cents and last year’s loss of 2 cents a share.

Digital Assets: Tala And Visa Will Offer Stablecoin Transactions To The Underbanked

May 6, 2021

Tala, a personal finance app and financial services provider active in emerging economies, and Visa (NYSE: V) will collaborate to bring cryptocurrencies, such as the USDC stablecoin, to underbanked people across the world.

Alternative Investments/Digital: VanEck Lists Digital Assets UCITS ETF In Europe

May 6, 2021

The VanEck Vectors Digital Assets Equity UCITS ETF (DAPP) is listed on the London Stock Exchange and Deutsche Boerse. It will offer exposure to blockchain-focused companies involved in various digital businesses. It is claimed to be the first ETF on the continent to target companies engaged specifically in digital asset projects.

Digital Assets: Galaxy Digital To Buy BitGo For $1.2B

May 5, 2021

Galaxy Digital Holdings Ltd (TSE: GLXY), founded by Michael Novogratz has inked a deal to acquire BitGo Inc for $1.2 billion in cash and stock.

Alternative Investments/Digital: eToro Launches Bitcoin-Themed Portfolio

May 5, 2021

Last week, eToro flagged off its BitcoinWorldWide product, a thematic portfolio. The platform described it as “a new innovative CopyPortfolio,” covering the value chain created from activities related to bitcoin.

Digital Assets: Fidelity Offers Institutions “Sherlock,” A Data Analytics Solution For Digital Assets

May 4, 2021

Fidelity Investments has unveiled Sherlock, a data solution for institutions that presents comprehensive fundamental and technical data on digital assets sourced from leading institutional data providers, presented in one central location.

Digital Assets: Charlie Munger Shreds Bitcoin

May 3, 2021

Charlie Munger, a legendary investor, and Warren Buffett’s right-hand man lampooned bitcoin at Berkshire Hathaway’s (NYSE: BRK.A) annual meeting on Saturday. On a Q&A session, the company’s 97-year old Vice Chairman fired a salvo of negative comments against the leading cryptocurrency.

Digital Assets: Zipmex Helps Asian Buyer Splurge Bitcoin On A Lambo

April 30, 2021

The distinction for the purchase of Asia’s first Lamborghini using bitcoin goes to car buyer Jo Chirawat, exchange Zipmex, and Bangkok-based Lambo dealer Renazzo Motors. Zipmex announced it had facilitated the transaction for a bitcoin-paid Lamborghini 2021 Huracán EVO RWD through its ZipSpend crypto-payment network.

Venture Capital: Paxos Receives $2.4B Valuation With $300M Series D Funding

April 30, 2021

Paxos, which operates a regulated blockchain infrastructure platform, announced Thursday its close of a $300 million Series D round of funding led by Oak HC/FT. Returning investors Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap, and others also participated.

Alternative Investments/AI: A New ‘Fund Of Thematic Funds’ From LGIM

April 30, 2021

The Legal & General Global Thematic Fund, a new launch from Legal & General Investment Management (LGIM), addresses UK investors and their demand for access to multiple themes. The innovation-focused fund is a bouquet of eight themes in the areas of technology, energy and resources, and changing demographics.

Digital Assets: The SEC Puts Off Its Decision On The VanEck Bitcoin ETF To June 17

April 28, 2021

In an announcement today the Securities and Exchange Commission deferred its decision on the application by the Cboe BZX Exchange on March 1, 2021, to list shares of the VanEck Bitcoin Trust through a proposed rule change.

Digital Assets: Bitcoin Trades Give Tesla A $101M “Positive Impact” On Quarterly Profit

April 27, 2021

Tesla’s (NASDAQ: TSLA) first-quarter results, announced on Monday, showed the electric vehicle maker clocked a record quarterly net profit of $438 million on a GAAP basis. Of particular interest to bitcoin aficionados, the company also made some more information, and commentary, available on its investment of $1.5 billion in bitcoin in the first quarter.

Digital Assets: Vebitcoin, Another Turkish Crypto Exchange, Downed Shutters Friday

April 26, 2021

The Turkish authorities are grappling with thousands of investor complaints after two of the country’s crypto exchanges, Thodex and Vebitcoin, suspended their operations within the space of about a week. Both exchanges are being investigated for fraud and authorities have already arrested numerous persons in this connection.

Digital Assets: Chief Of Turkish Crypto Exchange Thodex On The Lam, Allegedly With $2B

April 23, 2021

Turkish crypto exchange Thodex has gone dark and that its CEO Faruk Fatih Ozer is missing. Ominously, according to local media reports, Istanbul police are of the view that Ozer has hot-footed it to Albania, taking $2 billion of investors’ money with him.

Digital Assets: Nearly 63% Of U.S. Adults Are “Crypto Curious” (Gemini Survey)

April 22, 2021

The “2021 State of U.S. Crypto Report” from Gemini takes a look at what investors and crypto-curious consumers in the United States think about cryptos after new trends that emerged in 2020. These include rising institutional interest and corporate actions by companies such as Tesla (NASDAQ: TSLA), MicroStrategy (NASDAQ: MSTR), PayPal (NASDAQ: PYPL) that fuelled a huge rally in bitcoin.