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.
Earlier today, Tim Sweeney, the head of Epic Games, shared an email with the company’s employees, announcing some significant changes within the organization. In this message, Sweeney discussed the necessity of layoffs, divestitures, and the evolving landscape of Epic’s business model.
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More Stories on Digital Assets
London-based Jacobi Asset Management has launched today Europe’s first Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, ahead of the U.S. The Jacobi FT Wilshire Bitcoin ETF, trading under the ticker BCOIN, charges a 1.5% annual management fee and is listed on Euronext Amsterdam. Fidelity Digital Assets serves as custodian, while Flow Traders acts as market maker, with authorized participants including Jane Street and DRW.
A recent report from brokerage firm Bernstein highlights the potential significance of approving Bitcoin Spot Exchange-Traded Funds (ETFs) in driving a new cycle of growth in the cryptocurrency market. These ETFs not only create demand in the spot market but also trigger a positive market signal, attracting retail and institutional flows seeking legitimacy.
Galaxy Digital CEO Mike Novogratz is hopeful that the U.S. SEC could approve a spot Bitcoin exchange-traded fund (ETF) within 4 to 6 months. He based this premise on his contacts at major asset management firms Blackrock (NYSE: BLK) and Invesco (NYSE: IVZ), both of which have filed for Bitcoin ETFs with the SEC.
Billionaire investor David Rubenstein, co-founder of The Carlyle Group, said he believed Bitcoin was here to stay due to its significant and enduring appeal.
Bitfarms Ltd. (NASDAQ: BITF), a global Bitcoin mining company, has begun the first development phase for its 150 MW hydropower contracts in Paraguay. The company is building a 50 MW mining farm in Paso Pe, Paraguay, near its Villarrica facility. The new farm, set to be commissioned in Q1 2024, includes a 30 MW air-cooled warehouse and 20 MW of hydro-cooled miners in containers, obtained with vendor credits to reduce cash outlay.
PayPal (NASDAQ: PYPL) has introduced a stablecoin called PayPal USD (PYUSD), which is backed by U.S. dollar deposits, short-term U.S. treasuries, and similar cash equivalents. The stablecoin can be redeemed 1:1 for U.S. dollars. This move is aimed at harnessing the potential of stablecoins in web3 and digital native environments. PayPal USD is designed for digital payments and Web3 compatibility and will be accessible on various platforms.
Figure Technologies, a blockchain startup founded by former SoFi CEO Mike Cagney, has decided not to pursue a national bank charter any longer, as confirmed by the Office of the Comptroller of the Currency. The company initially applied for the charter in 2020, hoping it would simplify its operations and enable them to reach a wider range of underserved customers.
KPMG, a major accounting firm, analyzed Bitcoin’s alignment with environmental, social, and governance (ESG) principles, highlighting its potential contributions to sustainability. The report focuses on four carbon-reduction techniques used by bitcoin mining firms.
Digital Assets: MicroStrategy Reverts To Profitability; Plans Stock Sale Of $750M To Fund More Bitcoin Shopping
MicroStrategy (NASDAQ: MSTR), a US software company, announced its intention to add significantly to its Bitcoin holdings by funding the purchase through a stock sale of up to $750 million. The firm has been accumulating Bitcoin since August 2020, and its CEO, Michael Saylor, is a vocal supporter of the cryptocurrency.
Google (NASDAQ: GOOGL) has launched the Google for Startups Women Founders Fund, a fund dedicated to supporting female-founded startups in the Asia-Pacific region, where women often face challenges in business. The fund will provide $100,000 in equity-free cash to six startups this year, focusing on India, Japan, and South Korea initially, and later expanding to other Asia-Pacific markets.
Digital Assets: SEC’s Demand Would Have Sounded The Death Knell For Crypto (Brian Armstrong, Coinbase)
Coinbase CEO Brian Armstrong revealed that the U.S. SEC asked the company (NASDAQ: COIN) to delist all cryptocurrencies except Bitcoin, which he believed would have led to the demise of the entire cryptocurrency industry in the United States.
During a recent interview with Bloomberg TV, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), said the cryptocurrency sector was speculative and plagued by fraudulent activities.
Spanish health care REIT Mancipi S.A. plans to raise €150 million using Securitize’s technology, issuing shares on the Avalanche blockchain. Securitize becomes the first platform authorized to issue digital asset securities in both the U.S. and Europe, anticipating an EU-wide license.
The UK’s data regulator, Information Commissioner’s Office, will conduct further enquiries into Worldcoin, a crypto project by OpenAI. Worldcoin offers a digital identification solution by scanning users’ irises to verify their humanity and provides free cryptocurrency.
Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, has launched its core offering called World ID. The World ID is described as a “digital passport” that proves the holder is a real human, not an AI bot. To obtain a World ID, customers must undergo an in-person iris scan using Worldcoin’s ‘orb,’ a silver ball approximately the size of a bowling ball. The project has already amassed 2 million users during its beta phase.
A group of investors, led by Matthew Roszak of Tally Capital and Peter Vessenes of Capital6, is finalizing a deal to acquire CoinDesk, a media company focused on cryptocurrency. The enterprise value of the transaction is approximately $125 million. CoinDesk’s parent company, Digital Currency Group (DCG), is expected to retain a stake in the media, events, data, and indexes business as part of the deal. CoinDesk’s current management is also expected to remain in place.
During a Senate committee hearing, SEC Chair Gary Gensler labeled cryptocurrencies as a highly speculative asset class and criticized the industry for being filled with fraud and scams. He highlighted that the crypto field operates on models that would not be permitted in traditional securities markets and expressed concerns about the harm it has caused to many Americans.
swaps. The bank aims to offer services like currency swap, fixed deposits, and prize-linked savings accounts. The NUG recognized stablecoin Tether (USDT) as legal tender at the end of last year.
Worldcoin, a startup aiming to create a large identity and financial network, has reached two million sign-ups for its World ID system. The company has more than doubled its user base since January, and in less than half the time it took to reach the one million mark.
Digital Assets: Monochrome Asset Management And Vasco Trustees Push For Australia’s Maiden Spot Bitcoin ETF
Monochrome Asset Management Pty Ltd and its partner Vasco Trustees Ltd have refiled an application for Australia’s first spot Bitcoin exchange-traded fund (ETF) under the country’s new regulatory framework. The Monochrome Bitcoin ETF (IBTC) will provide retail investors with direct exposure to Bitcoin in a regulated structure.
Europe’s first bitcoin exchange-traded fund (ETF) is set to be publicly listed after a one-year delay. Jacobi Asset Management had originally planned to launch the ETF on Euronext Amsterdam in July 2022 but postponed it due to market conditions following the Terra Luna cryptocurrency crash and FTX’s collapse.
Standard Chartered has forecasted that the value of the leading cryptocurrency, bitcoin, may reach $50,000 within this year and rise to $120,000 by the conclusion of 2024. The bank suggests that the recent surge in bitcoin’s price could incentivize miners to hold onto more of their supply. Another reason for the highly bullish projection is the banking sector crisis.
BlackRock CEO Larry Fink believes that a spot Bitcoin exchange-traded fund (ETF) could level the playing field for investors and make cryptocurrency more accessible and affordable. In an interview, Fink expressed his hope that regulators would consider BlackRock’s application for a Bitcoin ETF as a means to democratize the crypto market.
The Australian Securities and Investments Commission (ASIC) has conducted searches at Binance Australia’s offices as part of an investigation into the company’s defunct local derivatives business. The probe focuses on Binance Australia’s classification of clients as retail or wholesale investors.