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: Greek Police Launched Unsuccessful Operation To Nab Cryptoqueen Ruja Ignatova
Police in Greece attempted to arrest Ruja Ignatova, a Bulgarian wanted by Interpol, Europol, and the FBI, according to the Greek newspaper Kathimerini, which cited well-informed police sources.
In 2017, Ruja Ignatova, the “Queen of cryptocurrencies,” disappeared without a trace after boarding a flight from Sofia to Athens. She is wanted for stealing at least $4 billion from unsuspecting victims through a complex fraud with the fake cryptocurrency OneCoin.
Alternative Investments/Digital: Pando Asset Lists A Crypto Basket ETP On Swiss SIX
Pando Asset makes its debut in the European market with an ETP comprising the following six cryptos: 39.6% bitcoin, 27.3% ethereum, 11.9% binance, 8.1% solana, 7.3% cardano and 6% polkadot. The ETP listed on the Swiss SIX Exchange and has a total expense ratio of 2%.
Digital Assets: Coinbase In Hot Water As The SEC Probes Trading Of Tokens That Should Have Been Registered As Securities
According to a Bloomberg report, the well-known cryptocurrency exchange Coinbase (NASDAQ: COIN) is facing a new Securities and Exchange Commission investigation regarding whether American investors were permitted to trade digital tokens that should have been registered as securities, a source said. Therefore, the SEC is reportedly investigating whether Coinbase violated securities laws.
Digital Assets: Sam Bankman-Fried Throws Bankrupt Voyager Digital’s Customers A Lifeline
Crypto exchange FTX has thrown bankrupt crypto broker Voyager Digital (TSE: VOYG) a lifeline. Voyager halted user transactions on July 1, and entered bankruptcy proceedings soon after. FTX CEO Sam Bankman-Fried is offering Voyager a plan that could help save a sinking ship – customers may be able to withdraw their tokens and get a refund if they have funds remaining in their wallets.
Digital Assets: Bankman-Fried Founded FTX, The Crypto White Knight, May Raise Funds At $32B Valuation
Bloomberg said Sam Bankman-Fried, the CEO of crypto exchange FTX is in the market for raising fresh capital at a valuation of $32 billion, the same as it was in January. The entities conducting the raise are both FTX, and FTX.US, the American arm of the crypto exchange.
Digital Assets: Tesla Sells Off Bitcoin Worth $936M On Liquidity Concerns
Elon Musk’s EV maker company Tesla (NASDAQ: TSLA) sold off $936 million, or three-quarters of its stash of bitcoins, in a bid to raise fiat money amidst lockdowns in China and a volatile global economic environment. The company had invested $1.5 billion in bitcoin early last year, saying the crypto offered “long-term potential.”
Digital Assets: More Entities Halt Withdrawals, Layoff Staff Amidst The Crypto Bear Market
Even while bitcoin, the leading cryptocurrency is enjoying some bullish tailwinds that have nudged it above the $24K level, news flow in the digital assets market shows it may still be premature to call an end to the so-called crypto winter that commenced in November last year.
Digital Assets: El Salvador Not Likely To Default On $800M Debt, Says Finance Minister
The world of crypto assets is currently strewn with stories of defaults and bankruptcies such as those of Three Arrows Capital, Voyager Digital, and most recently, Celsius Network. Could a country such as El Salvador, known to have invested substantially in bitcoin, join this motley group? El Salvador Finance Minister, Alejandro Zelaya, has trashed international markets forecasters’ predictions that the country will default on USD 800 million bond payments early next year.
Digital Assets: Celsius Goes Under Too, Files For Bankruptcy
Troubled crypto lender Celsius Network has finally entered a voluntary bankruptcy process and filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The step would “provide the Company with the opportunity to stabilize its business and consummate a comprehensive restructuring transaction that maximizes value for all stakeholders,” Celsius said in a statement.
Digital Assets: State Regulators Take Aim At Crypto Companies Including Celsius
The Department of Financial Regulation (DFR) in the State of Vermont and the Department of Financial Protection & Innovation (DFPI), California, have both issued on July 12 cautionary notices regarding crypto companies that have suspended withdrawals amidst the meltdown in the crypto assets market.
FinTech: Agrotoken Backs Its Visa Alliance With Blockchain For Agro-Focused Card
Agrotoken, which is developing a tokenized infrastructure for trading agrocommodities, announced Monday its partnership with Pomelo (a provider of technological infrastructure for financial services) and Algorand (a layer-1 blockchain) to develop a card for the agrocommodity sector. Agrotoken previously entered an alliance with Visa (NYSE: V) to create a payment method allowing agricultural producers to use their grains as a form of payment through a card.
Digital Assets: UK Jeweller Graff Sues Insurer For Not Reimbursing Bitcoin Ransom Payment
Graff, a British luxury jeweller, is taking insurer The Travellers Companies to court for not paying up a claim of $7.5 million on account of a bitcoin ransom that it paid to Russian hacker gang Conti. Graff was forced to pay the amount to prevent a leak of data relating to its big clients, including Middle East royalty.
Digital Assets: Three Arrows Capital Founders Allegedly Absconding
The founders of Three Arrows Capital, the collapsed crypto hedge fund operating out of Singapore, are untraceable, says the legal team of the fund in a Chapter 15 bankruptcy filing in the U.S. Bankruptcy Court of the Southern District of New York. The whereabouts of the fund’s cofounders, Su Zhu and Kyle Davies, are not known, said the filing.
Venture Capital: Cyber Insurance Provider Coalition Lands $250M After Year Of Torrid Growth
Coalition, a provider of insurance against cyber risks, announced today it had closed a $250 million funding round in June. Allianz X, Valor Equity Partners, Kinetic Partners and other existing investors participated in the investment which valued Coalition at $5 billion.
Digital Assets: Niches Of The Cryptocurrency Market Have “Real Crash Potential” (Bankman-Fried)
Speaking on an interview with CNN, Bankman-Fried made some sobering comments on the state of the cryptocurrencies market, which is currently getting some much-needed love from investors. Bitcoin the leading cryptocurrency, is trading at $21,690.03, up over 3% in 24 hours, and gaining nearly 24% from its recent, 52-week low of $17,614.34.
FinTech: Payments Platform Wirex Offers Credit Against Collateral Of Your Crypto
Wirex, the London-headquartered digital payments platform which aims to blur the gap between traditional currencies and crypto, has announced Wirex Credit, a product that offers highly competitive interest rates and no origination fee for crypto-backed loans. Users can easily borrow, within the Wirex app, up to $100,000 in stablecoins, with a loan to value (LTV) of up to 80%.
Digital Assets: In Domino Effect, Voyager Digital Files For Chapter 11 Bankruptcy
Crypto broker Voyager Digital (TSE: VOYG) filed for bankruptcy protection under Chapter 11 on Tuesday, according to an announcement by the company. The move follows after a bankruptcy filing by Three Arrows Capital, a crypto hedge fund that owes Voyager more than $650 million in loans. Voyager had previously halted withdrawals, trading, and deposits from customers following a default by Three Arrows Capital on loan repayment.
Digital Assets: Atlantic Equities Downgrades Coinbase Citing “Misinformation” Around the Company
Simon Cinch, an analyst at Atlantic Equities, has downgraded Coinbase (NASDAQ: COIN) to Neutral from Overweight, and flagged a potential downside of another 37% to the stock price, or $35 per share. Coinbase is currently trading at $52.62 per share. The analyst cited a slew of concerns for the downgrade, chiefly market developments that would possibly severely impact Coinbase’s revenue.
Digital Assets: After Liquidation Order In The British Virgin Islands, Three Arrows Files For US Bankruptcy
On Friday, according to a CNBC report, troubled crypto hedge fund Three Arrows Capital (3AC) applied for protection from creditors by filing for bankruptcy in the US under Chapter 15 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the Southern District of New York on Friday.
Alternative Investments/Digital: Jacobi To Launch Europe’s First Bitcoin ETF This Month
The Jacobi Bitcoin ETF, from Jacobi Asset Management, will have a number of firsts to its credit when it starts trading this month. It will be the first exchange-traded equity instrument for institutional investors to access Bitcoin in Europe, and it will trade on Euronext Amsterdam, the largest exchange to list a bitcoin spot ETF globally. Trading under the ticker symbol BCOIN, the ETF charges an annual management fee of 1.5%.
Digital Assets: Grayscale Protests SEC Rejection Of Spot Bitcoin ETF, Files Suit Against Regulator
Grayscale Investments, the largest digital asset manager globally, has filed a suit against the SEC for rejecting its application to convert the Grayscale Bitcoin Trust into a spot bitcoin ETF. Donald B Verrilli Jr., former U.S. Solicitor General, and a top lawyer for the Obama administration, whom Grayscale hired early this month, filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit.
FinTech: Sam Bankman-Fried Of FTX Rejects Rumors He Is Acquiring Robinhood
FTX, the crypto platform owned by billionaire Sam Bankman-Fried, has scotched media reports that it was pursuing a deal to acquire commission-free trading app Robinhood (NASDAQ: HOOD). Bloomberg said Monday that FTX was exploring whether it might be able to acquire Robinhood, quoting people with knowledge of the matter.
Alternative Investments/Digital: Amidst A Crypto Winter, 21Shares Launches The World’s Cheapest Physically Backed Bitcoin ETP
21Shares AG has launched a bitcoin ETP tailor-made for today’s crypto market, one that has been mauled by rampaging bears and gripped by a “crypto winter.” The 21Shares Bitcoin Core ETP (CBTC), which started trading on the SIX Swiss Exchange effective Wednesday, is claimed to be the lowest cost physically-backed Bitcoin ETP in the world.
Digital Assets: High Profile Casualty Of The Crypto Meltdown – Hedge Fund Three Arrows In Liquidation
A report by Sky News claims that crypto hedge fund Three Arrows Capital (3AC) has been forced into liquidation as a result of a court order in the British Virgin Islands. The report said that global consulting firm Teneo has been entrusted with the insolvency process of 3AC.