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.
Crypto asset manager Osprey Funds has launched the the Osprey Solana Trust (OSOL). The firm said earlier this month that the fund has commenced trading via the OTCQB market. OSOL is the first publicly traded fund based on the SOL token of the Solana network.
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Sean Farrell, head of digital asset strategy at financial research firm Fundstrat, has advised crypto investors to keep a low profile and hedge their holdings against heightened volatility due to low trading volumes.
Tesla (NASDAQ: TSLA) has delivered four Megapacks to the mega-scale bitcoin mining facility in Texas being built by Blockstream and Jack Dorsey’s Block (NYSE: SQ). Megapack is a powerful battery that provides energy storage and support, helping to stabilize the grid and prevent outages. Each unit can store over 3 MWh of energy—that’s enough energy to power an average of 3,600 homes for one hour.
Silicon Valley-based, storied, venture capital firm Andreessen Horowitz announced a new $4.5 billion fund to back startups in the crypto, or web3 space. Computing is now entering the golden era of web3, the firm feels, akin to the golden era of 2009-11, when companies like Uber, Venmo, Snap, and Instagram were started. “That’s why we decided to go big,” wrote Founder and Managing Partner Chris Dixon in the fund announcement.
Alternative Investments/Digital/VC/RealEstate: VC To Be Bitcoin’s Saviour, Prefer Crypto To Real Estate (JP Morgan)
JPMorgan said in a research report Wednesday that despite the fallout from the Terra/Luna collapse, the crypto market would be saved from a “winter” by venture capital, and that bitcoin could rebound to its fair value of $38,000 after a “capitulation” in recent weeks. That implies an upside of about 28% from bitcoin’s current price of $29,618.
Flowcarbon, co-founded by Adam Neumann, known for WeWork, is a climate technology company seeking to formalize the market for carbon offsets on the blockchain. The startup announced Tuesday its $70 million fundraise comprising token sales and a $32 million Series A round led by a16z crypto and including General Catalyst, Samsung Next, Invesco Private Capital, 166 2nd, Sam and Ashley Levinson, Kevin Turen, RSE Ventures, and Allegory Labs. Notable names that participated in the token sale included Fifth Wall, Box Group, and the Celo Foundation.
One hapless investor lost about 3 billion won ($2.4 million) in the LUNA and UST implosion earlier this month. A Korean social media personality going by the name of “Chancers” took it upon himself to knock on the door to Kwon’s condo in Seoul after Do Kwon allegedly went incommunicado subsequent to the meltdown in the LUNA crypto and UST stablecoin. Unfortunately, Chancers was unaware of the law prohibiting such an action and was arrested by the authorities.
Digital Assets: Swiss Venture Firm CV VC Launches African Blockchain Early-Stage Fund; Issues African Blockchain Report
CV VC announced Monday at Davos the launch of its African Blockchain Early-Stage Fund to bring the advantages of the blockchain and its own expertise to enable Africa to transact and interact for the well-being of its people and economies.
Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently holds a trove of 129,218 bitcoins, approximately worth $3.73 billion at current prices.
The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.” Worse, other stablecoins and protocols seem to have been dragged into Terra’s aftermath and appear to be in danger of losing their dollar pegs, notably Deus Finance’s DEI coin, currently tottering at $0.5873.
FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected from a waitlist. These customers would get access to hundreds of US exchange-listed securities, including common stocks and ETFs, alongside the cryptos already available in the FTX US app.
Nomura Holdings Inc (NYSE: NMR) announced this week its plans to launch a new digital asset company that would serve institutional clients and other investors with products and services linked to cryptocurrencies, stable coins, decentralized finance (DeFi), non-fungible tokens (NFTs) and other tokens.
oinbase (NASDAQ: COIN) has launched new features that allow users to access Web3 and dapps directly from the Coinbase app. The new dapp wallet and dapp browser power this functionality in the app, and effective today, some lucky users can buy NFTs on marketplaces like Coinbase NFT and OpenSea, trade on Decentralized Exchanges like Uniswap and Sushiswap, and borrow, lend, or swap through DeFi platforms like Compound and Curve.
Grayscale Investments’ first European ETF, the Grayscale Future of Finance UCITS ETF, will list on European bourses and offer investors exposure to companies that are at the intersection of finance, technology, and digital assets and building the digital economy.
Bitcoin continued its bearish trajectory today after the last Fed meeting hiked rates by 0.5%, the largest increase since 2000. The crypto, at the time of writing, is trading at $32,189, down nearly 7%, and in tandem with a massive fall in the mainline US indices: Dow (-1.76%); S&P500 (-2.66%); and Nasdaq (-3.55%). Global equity indices had also fallen today, slammed by a sweeping ‘risk-off’ mindset taking hold among investors.
By the end of this month, Gucci will start to accept cryptocurrency payments in a few US stores, and later extend the pilot to all of its directly operated stores in the US this summer. More than 10 currencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, and five stablecoins pegged to the US dollar, will be accepted by the iconic brand. The Gucci stores at Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas will be the first to take crypto payments.
Alternative investment asset manager AXS Investments launched the AXS 2X Innovation ETF (NASDAQ: TARK), a 2X leveraged product focused on companies involved in transformational industries, such as fintech, autonomous vehicles, genomics and next-gen internet.
LGT Bank, the largest private banking and asset management group in the world that is wholly owned by an entrepreneurial family – the Princely House of Liechtenstein – had assets under management of CHF 285.8 billion as of December 31 (US$ 292.75 billion at current exchange rates). The bank announced the launch of crypto investments using US dollars for its select clientele.
VanEck, a global asset manager with about $85.5 billion of assets under management, has launched the VanEck Community NFT via the release of 1,000 VanEck NFTs. The VanEck Community NFTs are being designed in partnership with NUMOMO, a premier global creative NFT agency, and reside on the Ethereum ecosystem, an open source blockchain with smart contract functionality.
RBC iShares has expanded its ETFs suite with the launch of four new Megatrend ETFs focused on the transformational themes of exponential technologies, clean energy, immunology and healthcare, and cybersecurity.
Founded in 2007 by a group of automation engineers from Cuba, Solinftec is an agtech focused startup with headquarters in both São Paulo, Brazil and West Lafayette, Indiana. The company raised $60 million in a growth investment round led by Lightsmith Group and joined by existing investors Unbox Capital and Circularis Partners and several undisclosed investors.
Buffett, who once called bitcoin “rat poison squared,” again had the cryptocurrency in his sights at the Berkshire Hathaway (NYSE: BRK.A) Annual Shareholder meeting on Saturday. He panned bitcoin for not producing anything tangible and therefore called it a “non-productive asset.”