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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Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers stand to receive up to 1 BTC as a reward when signing up and can earn an additional 1 BTC for each successful referral. The platform claims to be the sole custodial crypto platform in the EU offering customers a percentage of their trading volume back every month, paid in Bitcoin.
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More Stories on Digital Assets
Digital Assets: Michael Saylor Takes Up The Cudgels For Bitcoin On Energy And Climate Change
A report published last week by the U.S. Office of Science and Technology Policy claimed that electricity usage from digital assets was contributing to greenhouse gas (GHG) emissions. Michael Saylor, Executive Chairman, MicroStrategy (NASDAQ: MSTR) has issued a blog post titled “Bitcoin Mining and the Environment,” presumably in response to the White House report, and drew attention to his riposte on Twitter.
Digital Assets: Do Kwon May Soon Be Forced To Return To Face The Law In South Korea
South Korean authorities have requested the country’s Foreign Ministry to revoke the passport of Do Kwon, the founder of the collapsed Terraform Labs crypto ecosystem, says a Bloomberg report, quoting the prosecutor’s office.
Digital Assets: Ethereum Completes “The Merge,” Transits To Proof-Of-Stake Consensus, Cuts Energy Use By ~99.95%
In an event described as historic in the digital assets space, the Ethereum blockchain has completed its “Merge” on September 15, 2022. The Merge refers to the original Ethereum Mainnet merging with a separate ‘proof-of-stake’ blockchain called the Beacon Chain, now existing as one chain.
Alternative Investments/Digital: New, Post-Hard-Fork Ethereum ETP Launched By ETC
ETC Group is launching a new physically backed Ethereum ETP, the ETHWetc–ETC Group Physical EthereumPoW (ZETW GY) on the Deutsche Börse Xetra on 16 September, shortly after the hard fork occurs.
After the fork, the PoS chain will continue with ether (ETH) as its native chain, while the PoW chain will have a new token titled ETHW.
Digital Assets: South Korean Court Issues Arrest Warrant For Terraform Founder Do Kwon
A Reuters report said a South Korean court has issued an arrest warrant for Do Kwon, the founder of Terraform Labs, which promoted the UST stablecoin. A text message from the Financial Crimes Unit of the Supreme Prosecutors Office (cited by Bloomberg) said the warrant included five additional persons. The accused allegedly violated the Capital Markets Act.
Alternative Investments/Digital: WisdomTree Offers Blockchain UCITS ETF
The WisdomTree Blockchain UCITS ETF (WBLK), which tracks the WisdomTree Blockchain index, offers exposure to companies with a primary focus on blockchain and crypto technologies. Launched in Europe, the ETF trades on the Deutsche Boerse and Borsa Italiana and will also list on the London Stock Exchange on 14 September.
Digital Assets: Starbucks Unveils ‘Odyssey,’ A New Web3 Application, With Polygon
Starbucks Odyssey is a rewards program that will combine the digital technologies of the blockchain, NFTs, and Web3. Global coffee chain Starbucks (NASDAQ: SBUX) and Polygon “will offer Starbucks Rewards members and Starbucks partners (employees) in the United States the opportunity to earn and purchase digital collectible assets that will unlock access to new benefits and immersive coffee experiences,” said an announcement.
Digital Assets: Rich Pickings For Distressed Asset Investor Who Picked Up Mt. Gox Claims In 2017
The collapse of crypto exchange Mt. Gox in 2017 spelt opportunity for Thomas Braziel, a distressed asset investor and son of two insolvency lawyers. He raised $1 million from a family office and scooped up about 4,000 bitcoins worth of claims from customers of the exchange, which lost 850,000 bitcoins in a hack that forced it into bankruptcy in 2014.
Venture Capital: Blockchain And Web3 Infrastructure Developer Mysten Labs Nabs $300M Series B
Mysten Labs, a developer of the Sui blockchain network and creator of infrastructure for Web3, announced an initial close of $300 million series B funding round led by FTX Ventures. The round valued the startup at more than $2 billion.
Digital Assets: Bitcoin May Drop To $10K, Says Analyst Who Correctly Called 2018 Bottom
According to the analyst, Decentrader’s Filbfilb, the upcoming winter in Europe amidst a severe energy crisis could escalate into a major emergency in 2023 and take a toll on risk assets including bitcoin.
Digital Assets: El Salvador President Nayib Bukele Gets Flak From Media For Bitcoin Catastrophe
El Salvador President Nayib Bukele has been roundly criticized by the media on the first anniversary of the adoption of bitcoin as legal tender in the country. In view of the prolonged slump in the value of bitcoin after its life high in November 2021, it is understandable that the government chose to be reticent on the occasion. Not so the media, which was critical of the exercise, masterminded by Bukele.
Alternative Investments/ESG/Digital: Fidelity Launches Five Thematic ETFs In Europe
Fidelity International has launched in Europe five thematic equity ETFs spanning the themes of clean energy, electric vehicles & future transportation, cloud computing, digital health, and the metaverse. The ETFs will trade on European bourses including London Stock Exchange, Deutsche Börse Xetra, and SIX Swiss Exchange, and Borsa Italiana. Each ETF features an expense ratio of 0.50%.
Alternative Investments/Digital: LGIM Launches Metaverse ETF With ESG Overlay
Legal & General Asset Management (LGIM) has launched four thematic ETFs to be listed on the London Stock Exchange, Borsa Italiana, Deutsche Boerse and Six Exchange. Of these, the L&G Metaverse ESG Exclusions UCITS ETF (MTVR) will be a part of LGIM’s all-new “Access” range that is intended to be a strategic tool for investors seeking access to “non-traditional investment opportunities.” On the other hand, the L&G Optical Technology Photonics ESG Exclusions UCITS ETF (LAZG), the L&G Emerging Cyber Security ESG Exclusions UCITS ETF (ESPY) and the L&G Global Thematic ESG Exclusions UCITS ETF (THMZ) will be included in LGIM’s flagship thematic range.
Alternative Investments/Digital: Franklin Templeton To Debut Metaverse ETF In Europe
Franklin Templeton is launching the Franklin Metaverse UCITS ETF (FLRA) on European exchanges this week, the announcement coming on the heels of the debut of the Fidelity Metaverse UCITS ETF (FMTV) earlier this week.
Digital Assets: Congress Wants Action Taken Reports On Crypto Fraud From Agencies, Digital Exchanges
The Committee shot off a series of letters earlier this week to four agencies, including the Department of the Treasury, the Federal Trade Commission, the Commodity Futures Trading Commission, and the Securities and Exchange Commission, as well as five digital asset exchanges — Coinbase, FTX, Binance.US, Kraken, and KuCoin, asking for details of actions taken to “identify, investigate, and remove or flag potentially fraudulent digital assets or accounts,” as well as highlight discussions around “whether to adopt more stringent policies.”
Venture Capital: Seven Seven Six, A VC Founded By Reddit Co-Founder Ohanian, To Invest $177.6 M In Web3, Crypto
Alexis Ohanian, the co-founder of Reddit, has floated Seven Seven Six, a venture capital firm focusing on investments in Web 3 and crypto currencies. A new fund from 776, titled Kryptos, is mobilising as much as $177.6 million and is expected its operations in October.
Alternative Investments/Digital: The Rex Short MSTR ETF Allows Investors To Bet Against Michael Saylor’s MicroStrategy Inc
Here’s a proxy bet on a further fall in bitcoin, which is already down about 70% from its life highs reached in November 2021: Though it is difficult for average investors to short bitcoin [or MicroStrategy (NASDAQ: MSTR), one of the biggest listed investors in bitcoin], they can obtain a bearish exposure to either by buying units of the Rex Short MSTR ETF, an inverse ETF.
Venture Capital: Digital Asset And Metaverse Giant Animoca In $100M Extension Raise Led By Temasek
Temasek, the Singapore state investor, is leading a $100 million investment round in Animoca Brands, a global leader in gamification and blockchain with a large portfolio of over 340 investments, and with a goal to advance digital property rights and contribute to building the open metaverse. Animoca intends to take advantage of the massive bear market in digital assets to scoop up assets, including tokens and other industry participants, on the cheap.
Digital Assets: Rising Panic Of Mt. Gox Bitcoin Dump Quelled By Creditor
As this is being written, bitcoin is trading at $19,987.56, and below the psychological and technical support level of $20K. Twitter has been agog with rumors that a massive supply of bitcoin is likely to hit the market on August 28 and emanating from users of the defunct Mt Gox exchange.
Digital Assets: Latam Crypto Exchanges To Launch Crypto Cards
Ripio, a crypto exchange located in Argentina, and Bitso, a Mexican exchange, have tied up with Visa (NYSE: V) and MasterCard (NYSE: MA) respectively, for the proposed launch of crypto currency debit and credit cards.
Digital Assets: Metro Stations In China’s Ningbo City Now Accept The Digital Yuan
An official release from Ningbo Rail Transit announced that all 125 of its metro stations will accept the country’s digital yuan in payment via the subway systems dedicated app. The move is in furtherance of the stated objective of the Chinese central bank to expand adoption of the Chinese digital currency.
Alternative Investments/Digital: Invesco Launches Metaverse Fund
Invesco, the global asset management firm, is launching the Invesco Metaverse Fund, to be registered in Luxembourg, and having a size of about $ 30 million. It will invest in large, medium, and small cap companies across the Metaverse Value Chain which includes many distinct and interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds.
Digital Assets: This Dangerous New Crypto Scam Is Called “Pig Butchering”
A new scam is making the rounds, and the criminals typically locate and home in on their victims using social media or dating portals such as Tinder and LinkedIn. After establishing contact, they develop an ongoing relationship with the victim, gradually leading to trust. This could easily be a romance-cum-investment scam unfurling over weeks, even months, a period that could be described as a grooming period.
Digital Assets: Ethereum Merge Could Boost CoinBase’s Bottom Line By $80 – $100M (JPMorgan)
Coinbase (NASDAQ: COIN) is likely to benefit substantially from the Ethereum Merge, according to JPMorgan analyst Kenneth B Worthington. In a note to clients, Worthington estimated that Coinbase likely accounted for a 15% share of Ethereum assets, and that recent steps it took “to maximize the value of Eth staking for its clients” would help to bolster its own revenues.