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
Alternative Investments/Digital: Galaxy Digital Takes Aim (Again) At Bitcoin ETF Using Futures Route
Enthused by a comment from Gary Gensler, the Chair of the Securities and Exchange Commission, that filing with the SEC for a futures-based bitcoin ETF stood a higher chance under the Securities Act of 1940, Mike Novogratz’s Galaxy Digital (TSE: GLXY) just took its second shot at that elusive vehicle. Note that the company previously filed for a bitcoin ETF in April 2021 under the Securities Act of 1933.
Digital Assets: Crypto Broker Bitpanda Triples Valuation To $4.1B In Five Months
Austrian cryptocurrency broker Bitpanda announced today (August 17, 2021) its raise of $263 million in a Series C round led by Valar Ventures, with the participation of Alan Howard and REDO Ventures, as well as existing investors LeadBlock Partners and Jump Capital. Valar Ventures is the venture capital firm co-founded by U.S. tech billionaire Peter Thiel. The round valued Bitpanda at $4.1 billion, up from $1.2 billion in March, when the startup raised $170 million.
Digital Assets: Singapore Clears DBS Vickers, DBS’ Brokerage Arm, For Trading Digital Payment Tokens
DBS Vickers, the brokerage arm of DBS Bank (SGX: D05), has become one of the first few financial institutions to receive in-principle approval from MAS under the Payment Services Act to provide trading services for digital payment tokens. DBS Vickers is now following through with necessary actions to qualify for the award of a license in this regard from MAS.
Alt Investments/Digital: Kryptoin Applies To SEC For An Ethereum ETF
Meanwhile, the Hashdex Nasdaq Ethereum Reference Price Index Fund goes live in Brazil next week. Delaware-based digital asset investment manager Kryptoin has filed a proposal with the U.S. Securities and Exchange Commission to launch a physically-backed Ethereum exchange-traded fund (ETF). (FXSTREET) Kryptoin eyes Ether ETF approval The ETF would provide exposure to the second-largest cryptocurrency…
Digital Assets: Neuberger Berman Allows Crypto Investments in Commodity Strategy Fund
In an SEC filing, the Neuberger Berman Commodity Strategy Fund has permitted actively managed exposure to cryptocurrency investments and digital assets through i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin.
Digital Assets: “Dear Hacker, Please Give Us Back The $600M You Stole.”
In what could be the biggest crypto heist ever, a criminal hacked $600 million worth of tokens from Poly Network. But there’s a twist in the tale. Though the hacker exploited a vulnerability in blockchain network Poly Network and made off with that huge amount, it seems they had a change of heart and have started returning the stolen assets.
Digital Assets: India’s CoinDCX Crypto Exchange Turns Unicorn After Saverin-Led Round
Facebook co-founder Eduardo Saverin’s B Capital led CoinDCX’s $90 million Series C round that catapulted the Indian crypto exchange into the unicorn club with a valuation of $1.1 billion. CoinDCX also became the first Indian crypto company to achieve this status.
Digital Assets: Melanion Capital Launches First Bitcoin UCITS ETF In The EU
Melanion Capital, a Paris-based asset manager specializing in derivatives and computer-driven strategies, has been greenlighted by French regulators to launch a bitcoin UCITS ETF. This is a major landmark for the adoption of cryptocurrencies because the EU would be a potentially large market and one that has lacked an investment vehicle with the coveted UCITS tag – which signifies higher regulatory protection.
Alternative Investments/Real Estate: As Low Interest Rates Bite, UK Investors Tilt Towards Alternatives
An independent survey of 889 UK investors commissioned by NexGen Cloud found that over 40% are likely to consider alternative investments such as real estate, cryptocurrencies and collectibles in the present low-interest rate environment.
Digital Assets: JPMorgan Launches In-House Bitcoin Fund For Private Banking Clients
JPMorgan Chase & Co. (NYSE: JPM), which is led by bitcoin-sceptic CEO Jamie Dimon, is now offering an in-house bitcoin fund to clients at its Private Banking unit, CoinDesk reported. The big-four US bank is said to have partnered with New York Digital Investment Group (NYDIG) for the fund.
Digital Assets: Eyeing The Crypto Space, NCR Buys Bitcoin ATM Provider Libertyx
Earlier this week, NCR (NYSE: NCR), the software and device provider for payments with a market capitalization of $5.26 billion, announced its acquisition of Libertyx, America’s first and largest U.S. network of bitcoin ATMs, cashiers and kiosks with thousands of locations across 44 states nationwide.
Digital Assets: SEC Chairman Gary Gensler Is All For Regulating Cryptos
Speaking on a Bloomberg interview on Tuesday, Gary Gensler, chairman of the United States Securities and Exchange Commission, said he supported more regulatory protection of the crypto space. His comments had a negative effect on the price of bitcoin, the leading cryptocurrency, which at one stage fell below $38,000.
Digital Assets: Marathon Buys 30,000 Antminers For $120.7M
Marathon Digital Holdings (NASDAQ: MARA) has placed an order on Bitmain for the supply of 30,000 numbers of its flagship bitcoin mining hardware the AntMiner S19j Pro. The order, valued at $120.7 million will be fulfilled between January 2022 and June 2022. Marathon would thereafter have a capacity of over 133,000 bitcoin miners.
Alternative Investments/Digital: ProFunds Launches Bitcoin Mutual Fund That Will Invest In Futures
Mutual fund issuer, Bethesda-based ProFunds launched last week an innovative bitcoin mutual fund suitable for retail investors looking to invest in the leading crypto currency without the risks and hassles of holding it in wallets or exchange accounts. The Bitcoin Strategy ProFund (BTCFX) is the first open-ended U.S. mutual fund that will track bitcoin prices.
Digital Assets: Greenidge Gen. To Use Crypto Profits For New Solar Farm
Greenidge Generation Holdings, which runs a bitcoin mining operation alongside its power supply unit in Upstate New York, announced Thursday (July 29, 2021) that it will shutter a 40-year old coal ash landfill in the Finger Lakes region, and thereafter set up a 5MW solar farm at the 143-acre site.
Digital Assets: Mike Cagney’s Figure Tech Closes Oversubscribed Series D At $200M
New investors joined Figure Technologies’ Series D, taking the round to $200 million. The Series D, originally announced in May, saw new investors joining up, including entities and funds managed and/or advised by affiliates of Apollo Global Management, Inc., Blockchain.com, Rockaway Blockchain, HOF Capital, Endeavour Capital, National Bank Holdings, Goldentree Asset Management and L1 Digital.
Digital Assets: Cryptoassets As A National Currency – “Inadvisable Shortcut,” Says IMF
In a blog this week the IMF warned against the use of cryptoassets as a national currency, saying it was a “step too far.” Though cryptos had obvious advantages such as cheap and faster cross-border transfers, financial inclusion, and ease of access, the IMF warned that “in most cases, risks and costs outweigh potential benefits.”
Alternative Investments/Digital: Goldman Sachs Applies For “DeFi And Blockchain Equity ETF”
Wall street heavyweight Goldman Sachs (NYSE: GS) has filed with the SEC for launching a new ETF titled the Goldman Sachs Innovate DeFi and Blockchain Equity ETF. According to the filing, the fund would benchmark the Solactive Decentralized Finance and Blockchain Index.
Digital Assets: Bitcoin Closes In On $40K After Amazon Rumors Spark Rally
Bitcoin, the leading cryptocurrency, which had been in a downtrend since its April highs, and tested $30,000 on more than one occasion, surged nearly 15% after a rumor that Amazon (NASDAQ: AMZN) would start to accept payments in some cryptocurrencies later this year. As this is being written, bitcoin is trading at $39,162 and within kissing distance of the key, psychological resistance of $40,000.
Alternative Investments/Digital: Global X Throws Its Hat In The Bitcoin ETF Ring
Global X, the New York-based ETF provider and subsidiary of $560 billion investment manager Mirae Asset, has filed with the SEC for permission to launch a bitcoin ETF titled the Global X Bitcoin Trust on the Cboe BZX Exchange. No ticker symbol was suggested, but this would be announced before the commencement of trading if the ETF wins the much sought-after approval from the SEC.
Digital Assets: Crypto Adoption Stories From JPMorgan, Gallup Poll, Bitcoin Depot, And UBS
Four news bites that show cryptos are hanging on, recent crashes notwithstanding. From bitcoin ATMs to crypto FOMO, here goes….
Digital Assets: Digital Exchange FTX Lands $900M In Biggest Crypto Deal Ever
FTX, the crypto exchange founded by Sam Bankman-Fried in May 2019, has written up the history books with its Series B raise of $900 million at a valuation of $18 billion. A clutch of top-notch investors participated in the funding, reflecting the demand for promising opportunities in the crypto space, despite recent volatility in the price of bitcoin, the leading cryptocurrency.
Venture Capital: Pioneering NFT Marketplace OpenSea Turns Unicorn After $100M Funding
NFTs are digital assets residing on a blockchain such as digital art, music, videos, games, even code. The blockchain certifies to the asset’s uniqueness and its ownership. Founded in 2017, OpenSea is the largest NFT marketplace that benefited handsomely from the explosion in interest in NFTs this year. Evidently, non-fungible-tokens (NFTs) are not a digital flash in the pan, judging from OpenSea’s latest valuation.