Cat Digital Assets

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.

Top Story

Digital Assets: Colonial Pipeline Caved; Paid $5M Ransom To Hackers

May 14, 2021

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.

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More Stories on Digital Assets

Investors in Ripple’s XRP Rely on SEC Guidance To Claim It Was An ‘Unregistered Security’

September 27, 2019

Investors amended their complaint in a May 2018 lawsuit regarding the XRP cryptocurrency, relying on SEC’s guidance on digital assets. The SEC’s Framework for “Investment Contract” Analysis of Digital Assets has given a group of plaintiffs more power to their elbow in a May 2018 lawsuit. Accordingly, the investors have amended their complaint based on…

CME Group to Launch Bitcoin Options In 2020

September 20, 2019

CME Group, which introduced futures in bitcoin in 2017, will launch options on the digital currency in 2020.
CME Group’s bitcoin options will enable market participants to hedge or speculate on the cryptocurrency. The new product from CME is an acknowledgment of the increased trading and investing interest in bitcoin.

Swiss Private Bank Launches Digital Asset Services Including for Bitcoin And Ethereum

September 19, 2019

Arab Bank Switzerland, a leading Swiss private bank, will provide custody and brokerage services for Bitcoin and Ethereum.
The bank will target high net worth clients for the services. It will become one of the first private banks in Europe to offer such facilities for digital assets.

Deutsche Bank Joins JPMorgan Blockchain Project

September 18, 2019

The project now serves 320 banks around the globe on cross-border payments The JPMorgan Blockchain Project just got another big player in the blockchain game. Deutsche Bank has joined JP Morgan Chase’s Interbank Information Network (IIN). This is the financial industry’s single largest blockchain initiative. The data-sharing product features the connection of 320 banks on top…

Marshall Islands to issue its own national cryptocurrency

September 16, 2019

Marshall Islands snubbed the IMF and overcame initial US Treasury objections to its issue of a state-backed digital currency
The tiny Pacific republic is about to fructify its year-long effort to escape dependence on the US dollar.
Formally known as the Republic of Marshall Islands (RMI), the US associated state will soon issue its own digital currency dubbed the Marshallese sovereign (SOV)

Libra Association chief undeterred by regulatory outcry; says Libra cryptocurrency will launch 2020

September 16, 2019

Bertrand Perez, General Director of the Libra Association, said Facebook would not delay the launch of Libra
In an interview with online French news site Les Echos, Perez confirmed that the association would launch Libra in the second half of 2020. “We are firmly maintaining our launch schedule,” he said.

Facebook’s Libra: Paypal non-committal in the face of regulatory rumblings

September 16, 2019

PayPal, a member of the Libra Association, said its membership is “a non-binding commitment”
There is somewhat of an international furor around Facebook’s proposed Libra digital currency. Central banks, financial regulators, and governments are coming out with increasingly negative noises around Libra. Fears swirl around money laundering, adequate regulation, international coordination, and risks to consumers.
PayPal’s comment is significant given earlier rumors that some members of the Libra Association were contemplating backing out.

Libra to seek registration as a payment system

September 16, 2019

Swiss financial regulator FINMA said it had received a request from the Libra Association for assessment of Libra’s classification
The Libra project would indicatively classify under financial market infrastructure regulation, the regulator said. On a current evaluation, it would need a payment system license from FINMA.

Libra on the backfoot as France, Germany oppose virtual currencies

September 16, 2019

France and Germany oppose Facebook’s proposed Libra cryptocurrency
In a setback for Libra, the finance ministers of France and Germany issued a joint statement opposing the digital currency.
They claimed that virtual currencies were risky for consumers, financial stability, and the monetary sovereignty of European states.

FCA-Approved Crypto-Arbitrage Fund Raises $50 Million

September 10, 2019

Nickel Asset Management, a London-based hedge fund, has officially launched a cryptocurrency-focused ‘Nickel Arbitrage Fund.’
The new fund has raised $50 million within two months and won rare approval from UK regulators.

Protos Hedge Fund

Now trade the world’s 1st tokenized hedge fund – 24/7

September 9, 2019

Protos, the world’s first tokenized hedge fund, opened to public investors this month
Crypto investors can now trade the Protos hedge fund tokens on the OpenFinance Network (OFN). OFN is an SEC-registered Alternative Trading System (ATS).

Leading global macro fund to launch $1 billion crypto fund for institutions

August 30, 2019

Elwood Asset Management, backed by billionaire Alan Howard, will launch an institutional crypto hedge fund that could raise as much as $1 billion
Elwood manages the personal crypto assets of Mr. Howard and has performed due diligence on crypto hedge funds to establish the quality of governance and security.

The Libra Association Announces $10,000 Bug Bounty for Libra

August 27, 2019

The Libra Association has launched a bug bounty program that will reward up to $10,000 for a critical flaw found in the testnet code of its Libra stablecoin
The Libra Association, tasked with processing Libra transactions and maintaining the digital currency’s underlying blockchain, has expanded the scope of testing its code for bugs.
For the initial beta bug testing, conducted when Libra first launched, the Association invited 50 security researchers with blockchain expertise. This private program has now been thrown open to the public with rewards promised to anyone finding a bug in the code.

Global Reserve Currency: Mark Carney Pitches Crypto Replacement to U.S. Dollar

August 27, 2019

Bank of England governor Mark Carney wants to switch to a “Synthetic Hegemonic Currency” as a means to stabilize global financial systems
Trade and currency wars have rocked global financial systems in recent times. In a speech at Jackson Hole, Carney proposed the creation of a “Synthetic Hegemonic Currency” (SHC) that would replace the US dollar as the global reserve currency.

Post-Swiss Trip, Maxine Waters is Still Not Convinced on Facebook’s Libra

August 25, 2019

Congresswoman Maxine Waters, the Chairwoman of the House Financial Services Committee, went on a bipartisan trip to Switzerland for an in-depth understanding of Facebook’s proposed Libra stablecoin
The exploratory trip, partly coordinated by the Swiss Government, was organized to visit Libra’s Swiss headquarters as well as the Swiss Parliament.

Bitcoin Bull Patrick Byrne Resigns as Overstock CEO

August 22, 2019

CEO discloses a three-year relationship with Maria Butina, a Russian agent now in prison Patrick Byrne resigned as CEO of Overstock.com on Thursday. In a letter to shareholders, the embattled executive admitted to having a relationship with a woman now serving 18 months in prison. Maria Butina pled guilty of acting as a foreign agent….

Ghana crackdown

Ghana crackdown wipes out savings of $1.6 billion. Who said bitcoin was risky?

August 20, 2019

Thousands of savers have been left financially stranded after the government cracked down on fund managers and savings and loan companies
According to estimates, hapless investors might have lost as much as $1.6 billion in the government’s high-handed ‘clean-up.’

Investors Snap Up Argo Blockchain Shares After Power Deal

August 20, 2019

Shares in London-listed cryptocurrency miner Argo Blockchain were bid nearly 18% higher Tuesday after it signed an agreement to boost its power supply
Argo signed a deal with Canadian data center provider GPU.one for an increase in power supply from 14MW to 64MW to data centers in Quebec and Eastern Canada.

EU Cryptocurrency Regulations

EU Member States Harder on Crypto Assets

August 17, 2019

Do cryptocurrencies present a more significant risk to individual EU states than to Brussels?
It would seem so, because many European countries have implemented crypto regulations that are stricter than the EU’s Fifth Anti-Money Laundering Directive, which came into force in July 2018.

The Bitcoin ETF Trust

SEC Delays Decisions on Bitwise Bitcoin ETF Trust and VanEck SolidX Bitcoin Trust

August 14, 2019

Three Bitcoin ETFs face delays from the SEC office. Some things never change. The Bitcoin ETF Trust is going to have to wait a few more months for approval. The Securities and Exchange Commission again delayed a decision on approving three Bitcoin exchange-traded funds. The decision helped propel a 4.5% decline in the price of…

Coinbase Loses Barclays Banking Services

August 14, 2019

Barclays reportedly ends its relationship after less than 20 months. Coinbase, one of the world’s largest cryptocurrency exchanges, is looking for a new provider of banking services. Coindesk reported Wednesday that Barclays cut ties with the firm. Their relationship lasted less than 20 months, according to sources cited on the matter. Though neither party responded to…

The Bitcoin ETF Trust

SEC: Veritaseum ICO was Illegal, CEO Charged with Manipulative Trading

August 13, 2019

The SEC wants to stop Veritaseum ICO operators from dissipating from what it described as an illegal offering. The Veritaseum ICO isn’t what it was cracked up to be. In what feels like a daily occurrence, the regulators have frozen assets over an alleged ICO fraud scheme. The SEC filed an emergency lawsuit in federal…

Cat Digital Assets

SEC Chief Who Investigated ICO Fraud Departs after 15 Years

August 13, 2019

The SEC loses a key leader with cryptocurrency prices and ICO fraud back in the headlines A leading investigator of ICO fraud will depart as head of the SEC’s cyber enforcement division in August. Robert A. Cohen departs his role at the Division of Enforcement’s Cyber Unit after 15 years of service. Cohen was the…

The Bitcoin ETF Trust

Don Steinbrugge: Hedge funds to Buy More Bitcoin

August 8, 2019

The long-term Bitcoin bull is the latest manager to spot a growing trend in cryptocurrencies Don Steinbrugge, Agecroft Partners Founder and CEO, expects hedge fund managers to start gobbling up Bitcoin. The consultancy chief made his comments in a CNBC interview on Tuesday. During his conversation, the crypto bull called Bitcoin a “fantastic technology” and…