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.
Speaking Tuesday on CNBC’s Squawk Box, Mike Novogratz, CEO of Galaxy Digital, said large investors appeared to be switching their gold holdings to bitcoin, judging from the outflows seen recently in the yellow metal. Meanwhile, the leading cryptocurrency touched an all time high on Tuesday.
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The UAE is a Flag-bearer for Blockchain Technology Deployment. A joint white paper has been issued by the World Economic Forum and the United Arab Emirates’ Centre For The Fourth Industrial Revolution. Titled “Inclusive Deployment of Blockchain: Case Studies and Learnings from the United Arab Emirates,” the paper provides global decision-makers insights into the UAE’s experience with blockchain implementation.
The Bitwise / ETF Trends 2020 Benchmark Survey of Financial Advisor Attitudes Toward Cryptoassets gives useful insight into what advisors are thinking about Bitcoin and cryptos going into 2020. ETFs and passive investing being the flavor of the season it’s easy to conclude that a Bitcoin ETF could prove immensely popular. Note that financial advisors manage roughly half of all wealth in America.
J. Christopher Giancarlo, former Chair of the Commodity Futures Trading Commission (CFTC), along with Charles Giancarlo and Daniel Gorfine, have joined hands with Accenture on the digital dollar, or US CBDC project.
The nonprofit Digital Dollar Foundation engaged Accenture as the lead architect and technology innovation partner for the project. Accenture is working with Sweden’s Riksbank to develop an e-krona CBDC as a pilot project.
China is working on guidelines for the establishment of online-only banks.
Chinese regulators are pushing for the establishment of new, 100% digital banks to reduce risk in the country’s financial sector. They also want to broaden Chinese banking by allowing participation from new players including foreigners.
Roger Ver, nicknamed Bitcoin Jesus for his championship of the digital currency, says BTC is now a pyramid scheme.
Speaking to BlockTV, Ver said the sole argument in favor of continued adoption of Bitcoin Core was the assumed appreciation in its value. In contrast, Bitcoin Cash rested on the bedrock of its utility for people.
The UK-regulated Nickel Digital Asset Management announced Tuesday it’s launch of the Nickel Digital Gold Institutional Fund, its second cryptocurrency offering. The digital assets of the fund will be secured using long-term cold storage provided by Fidelity Digital Assets. For Fidelity, Nickel Digital represents its first European partner fund.
Fidelity Investments, the $7.8 trillion investment management giant, incorporated its UK arm on December 16, 2019. Its brief: to provide crypto services to European businesses, hedge funds, and family offices.
Device security fanatics will welcome the blockchain based phone and camera. CES 2020 did – with innovation awards.
The Consumer Electroncis Show (CES) 2020 at Las Vegas honoured the Blok on Blok (BOB) phone from Pundi X and the UCAM camera from IoTeX with CES 2020 Innovation Awards, reports coindesk.
Both products rely on the blockchain to address privacy and security concerns.
WisdomTree is pushing to launch a regulated cryptocurrency in the U.S. markets. The firm’s stablecoin would be pegged against a basket of assets – which could include government debt, the U.S. dollar or even gold.
Venture Capital and private equity firm Insight Partners said Monday that it would acquire Israeli cybersecurity startup Armis at a valuation of $1.1 billion, said The Jerusalem Post.
Though Insight did not disclose the sale price, it will pay it in cash. Alphabet’s private equity arm, CapitalG, will participate for $100 million, while certain existing stockholders will rollover holdings.
The transaction is the biggest acquisition so far of an Israeli cybersecurity firm.
South Korea may consider a central bank digital currency (CBDC) after all.
Contrary to indications it gave in January 2019, the Bank of Korea said on December 1 that “we are considering issuing digital currency (CBDC).”
That’s a huge about-turn from its January stance when it said in a report: “There is no plan to issue a CBDC in the near future because CBDC is not incentive to respond to the reduction of cash use or to increase financial inclusion.” (translated)
Secretary of State Jay Ashcroft’s Securities Division issued a final order to cease and desist against unregistered firm Mavixbtc Limited.
Mavixbtc had fraudulently represented itself as registered with both the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. To do this the firm used false registration numbers.
Shenzen-based fund manager Penghua Fund applied to China’s Securities Regulatory Commission for approval to launch an ETF tracking listed stocks related to blockchain. Penghua applied on December 24 for the ETF. It would be China’s first blockchain-based ETF.
According to leading cybersecurity firm Kaspersky Lab, hackers and cybersecurity criminals will up their game in 2020. Drawing on their experience through 2019, Kaspersky researchers have identified the key areas that these cyber attackers will target in 2020 and beyond. As 2020 looms, prepare to face cybersecurity threat actors with dollar signs in their eyes.
Millennial investors trust Bitcoin more than Berkshire Hathaway, according to a new report from Charles Schwab. The investment bank examined self-directed portfolios of millennial investors. It found that the majority of younger investors had more exposure to the world’s largest cryptocurrency than it did to Warren Buffett’s conglomerate.
James Altucher is best known for his hedge fund, his Choose Yourself messaging, his iconic hair, and an ultra-bullish stance on Bitcoin. The former hedge fund manager’s crypto-newsletter advertisements also followed readers around the internet.
Crypto hedge funds shuttered at a rather alarming click in 2019. According to Crypto Fund Research, 70 such funds had closed by early December. That means there was still time for another few of these funds to close as the month comes to a close.
Singapore’s MXC Exchange to Launch Leveraged Crypto ETFs. It announced December 28 the launch of its range of leveraged ETFs based on cryptocurrencies BTC, ETH and EOS. These ETFs are available for both long and short plays. The ETF products will “help users magnify their returns.”
Switzerland president Ueli Maurer took a swipe at the Facebook Libra project as he prepares to walk out the door. The nation’s finance minister and the outgoing president called for a reworking of the cryptocurrency project.
YouTube pushed crypto-channel owners into hiding. Now its admitted to an error. It will reinstate videos and resolve strikes.
China’s tech-heavy bourse, the Shenzen Stock Exchange, announced December 24 its introduction of an index to track the performance of China’s top 50 blockchain companies including startups.
According to a report in CrowdFundInsider, the Shenzen Stock Exchange will include in the index those firms that are active in Distributed Ledger Technology (DLT) and crypto industries.
Mu Changchun, head of the People’s Bank of China’s digital currency research institute, said China’s “central bank digital currency” (CBDC) would be “a digital form of the yuan.” Mu is also the Chinese central bank’s official in charge of the country’s new sovereign digital currency.
“The currency is not for speculation. It is different to bitcoin or stable tokens, which can be used for speculation or require the support of a basket of currencies,” Mu said, according to the South China Morning Post.
There is no concrete plan yet for the launch of the Facebook-led Libra digital currency, according to Reuters’ interview with Ellis.
Though Libra is scheduled to roll out by June of 2020, a regulatory backlash has put a cloud on that date.