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.
State Street (NYSE: STT), which has $40.3 trillion in assets under custody or administration, said Thursday it is establishing a new digital finance division called State Street Digital. The new unit will focus on digital financial services for crypto, tokenization, blockchain and CBDCs.
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More Stories on Digital Assets
Bitcoin enthusiasts and investors will be relieved to learn that Tesla (NASDAQ: TSLA) has not sold its stash of bitcoins. Tesla CEO Elon Musk said in a tweet early this morning: “To clarify speculation, Tesla has not sold any Bitcoin.” Musk had played a not insignificant role in bitcoin’s rally in recent months when he announced Tesla’s $1.5 billion investment in the leading cryptocurrency. He later also said that the carmaker would accept bitcoin for its cars.
The new Crypto Industry Innovators ETF (NYSE: BITQ) from Bitwise Asset Management offers investors exposure to shares of “public companies that are participants in the growing bitcoin and cryptocurrency sector.” The fund may address investors’ zeal for crypto given the SEC’s continued reluctance to green-light a bitcoin ETF.
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.
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.
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.
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.
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).
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.
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.
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…
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.