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.
PicPay, the well-known Brazilian payment app, has got its shoe in the crypto door in partnership with Paxos, a leading regulated blockchain infrastructure company. Picpay is opening crypto trading services for its over 30 million customers and Paxos will manage the trading and custody of the digital assets. To be opened up gradually, the crypto service will initially cover bitcoin, ethereum and USDP, the regulated dollar-backed stablecoin from Paxos.
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Pornhub is the leading free, ad-supported adult video streaming website with over 12 million videos and over 130 million visitors a day. On Tuesday, it announced via Twitter that it had started to accept Bitcoin and Litecoin as payment methods. (Bitcoin.com)
The Singapore Exchange’s (SGX) digital asset issuance, depository, and servicing platform announced Tuesday the successful pilot of its first digital bond – a S$400 million 5.5-year public bond issue and a follow-on S$100 million tap of the same issue by Olam International (SGX: O32).
MountX Real Estate Capital is a proptech investment platform that provides access to investment opportunities backed by institutional-quality real estate assets in Canada. The firm has partnered with Vertalo, a digital transfer agent that specializes in the tokenization of assets, to design and launch over 15 digital real estate projects in Mexico and Canada.
Archax and blockchain provider Algorand will collaborate to create smart financial products that can trade on the newly FCA-regulated Archax digital exchange. These innovative new products include stablecoins and liquid alternatives. The latter are financial products, available in an ETF or mutual fund wrapper, that employ alternative investment strategies but can be bought or sold every day.
Digital Currency Group (DCG), the owner of Grayscale Investments and CoinDesk, and an investor in blockchain companies globally announced its commitment to invest over $ 100 million in Foundry, a wholly-owned crypto mining subsidiary.
The Department of Justice on Tuesday announced the arrest of Egor Igorevich Kriuchkov, a Russian citizen, on the charge of conspiring to breach Tesla’s (NASDAQ: TSLA) network and to infiltrate it with malware.
Marathon Patent Group, Inc. (NASDAQ: MARA) will acquire Fastblock Mining for approximately $22 million in an all-stock deal. Marathon will issue 8,658,009 shares to Fastblock, a mining-as-a-service company, in a private placement transaction. Marathon shares closed Wednesday at $2.54.
ReliaQuest, a global leader in cybersecurity, protects enterprises from security breaches. It announced Tuesday its fundraising of over $300 million in growth financing in a round led by global investment firm KKR. Ten Eleven Ventures and ReliaQuest founder and CEO Brian Murphy also participated in the round.
FTX is a cryptocurrency derivatives exchange that offers spot and futures trading on various cryptocurrencies, the world’s first liquid cryptocurrency index future, futures that settle to the absolute change in the price of a coin over time, options, leveraged tokens, and other such innovative crypto products. The institutional-focused exchange acquired Blockfolio, a portfolio tracker that supports over 10,000 cryptocurrencies and blockchain assets across 500+ exchanges.
Canadian graphics software company Snappa started converting cash reserves into bitcoin since March this year after realizing that the purchasing power of Canadian and U.S. dollars is actually decreasing after adjusting for inflation. Writing in a blog, Snappa co-founder Christopher Gimmer said bitcoin “now makes up a significant percentage of our company’s overall cash reserves.”
In an attempt to unravel the complexities of evaluating the dominant cryptocurrency, Grayscale Investments has assessed macroeconomic factors and indicators of demand and supply in a new report titled “Valuing Bitcoin.” The report concludes that the current Bitcoin market structure parallels that of early 2016 before it began its historic bull run.
Researchers at Los Alamos National Laboratory have devised an AI-based software watchdog that thwarts malicious actors from hijacking computer resources for the illicit mining of cryptocurrencies such as bitcoin and monero. This criminal activity is known as cryptojacking.
BlockFi, an online crypto lender that also offers accounts paying compound interest and trading, raised $ 50 million in a Series C round led by Morgan Creek Digital. Other participating investors include Peter Thiel-backed Valar Ventures (the lead investor in BlockFi’s Series A and B), CMT Digital, Castle Island Ventures, Winklevoss Capital, SCB 10X, Avon Ventures, Purple Arch Ventures, Kenetic Capital, HashKey, Michael Antonov, NBA player Matthew Dellavedova, and two university endowments.
CoinShares’ bouquet of XBT Provider Exchange Traded Products (ETPs) has grossed AUM of above $1 billion. CoinShares is Europe’s largest digital asset manager and allows trading in a range of ETPs to investors.
Institutions can soon trade on a fully regulated exchange for digital assets. The UK-based Archax digital exchange boasts of several licenses received from the Financial Conduct Authority (FCA). The FCA has licensed Archax to operate as a multilateral trading facility exchange, a broker, and a custodian for cash and assets. Archax also became the first-ever company to receive the FCA crypto-asset registration and is therefore a fully compliant Virtual Assets Service Provider (VASP).
Greenidge Generation, once a mothballed coal-fired power station located in the New York Finger Lake Region, has converted to a power plant-cum-mining hybrid business model that combines power generation with a blockchain mining facility. Greenidge commenced a large-scale cryptocurrency mining operation in January 2020 with a data center comprising 8,500 latest generation miners.
Colibra is a Bulgarian startup that aims to make compensations for flight delays accessible to any traveler in EU countries. Travelers using the app need to pay nothing upfront and can hope to get a fair and guaranteed chance at compensation if the flight is delayed by just an hour, even due to weather. The app has now extended the option for travelers to receive compensation in bitcoin.
An analysis of Q2 SEC filings shows that Buffet’s Berkshire Hathaway (NYSE: BRK.A) jettisoned stocks of Wells Fargo (NYSE: WFC), JPMorgan (NYSE: JPM) and Goldman Sachs (NYSE: GS). On the other hand, he bought 20.9 million shares in Barrick Gold (NYSE: GOLD) – a safe haven bet worth about $563.6 million. Gold and crypto bugs are currently joined at the hip. So its no surprise that one analyst has predicted a price of $50,000 for bitcoin.
This should be another shot in the arm for bitcoin adoption. Liquidity of holding is a much-desired feature of any asset, and U.S. digital assets exchange Coinbase is pulling out the stops on that one. In a Thursday blog post, the exchange invited US customers to sign up to a waitlist for the option to borrow up to 30% of their bitcoin (BTC) holdings.
Apollo Fintech announced Wednesday the completion of its National Payment Platform (NPP), the first of its kind, blockchain-based, cashless national currency platform. It enables a central bank to issue a sovereign, digital currency for national adoption.
MicroStrategy Inc (NASDAQ: MSTR), a business intelligence firm, announced Tuesday that it had made good on its two-pronged capital allocation strategy announced July 2020. Firstly, it launched a tender offer to buy up $250 million worth of its class A common stock. In the second leg, it bought bitcoin (BTC) worth $250 million as a part of its commitment to invest in one or more alternative investments or assets.
Sergey Vinogradov, the general director of the Scientific Research Institute of Railway Transport, has come out in support of blockchain technology and the possibility of its use in the running of the Russian Railways.
According to a note from JPMorgan (NYSE: JPM) analysts this week, an interesting trend is playing out in alternative investments such as precious metals and cryptocurrencies. Older, more conservative investors are buying up safe-haven assets such as gold and silver. However, millennials will have none of such stuffy, traditional investments. They are more attracted to the technology, the volatility, and the modern allure of digital assets such as bitcoin.
Crypto aficionados in India were delighted with the Supreme Court of India’s March decision to overturn the Reserve Bank of India’s 2018 ban on providing services to any individual or business dealing in digital currencies. But their jubilation may be short-lived. According to Moneycontrol, the Indian government is seriously considering a law to outright ban trading in cryptocurrencies.