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.
Genesis Digital Assets, which runs 2.4% of the bitcoin mining network, has announced a $431 million raise led by Paradigm. Claimed to be the largest ever achieved by a bitcoin mining company, the round also won participation from NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital.
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More Stories on Digital Assets
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.
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, 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).
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 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.
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.
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.
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….
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.’
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.
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.
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…
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 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…
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 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…
Its a big, evil world out there in cryptoverse. Scams and hacks abound, and the amounts are getting bigger
The CipherTrace Cryptocurrency AML Report for Q2 2019 makes for some alarming reading. Digital currencies and exchanges appear to have become the happy hunting grounds of criminals who can steal billions of dollars with ease and impunity.
Bill Miller acquired legendary status as a stock-picker when he outperformed the S&P500 for 15 consecutive years during his tenure at the Legg Mason Value Trust.
Well, even at 69 years of age, it turns out his value investing skills are still as sharp. His usual strategy – to pick up stocks at bargain basement prices – is working fine.
Mercedes may soon have pre-installed in its cars a blockchain powered mobility platform that will do everything from managing your trip to processing digital contracts, “including the financial posting of the transactions in real time.”
In effect, the car becomes your crypto wallet!
Dan Morehead, founder and CEO of crypto-focused hedge fund Pantera Capital, is not afraid to make mind-numbing projections for bitcoin.
But the crypto perma-bull has a basis.
Pantera CEO Dan Morehead lauds Facebook’s SDR type strategy to collaterize Libra with the biggest currencies
In an investor letter Pantera CEO Dan Morehead said Libra and Bitcoin shared certain core values, that of Money, Justice and Freedom.
These values are likely to provide the substratum for a “movement towards democratized finance,” he said, stressing that financial inclusion via inexpensive and reliable financial services is the “promise of the blockchain.”
A massive $68 trillion will pass in the coming years to younger generations, and a lot of it will flow to digital assets says Barry Silbert, chief executive of Grayscale, a digital asset manager which manages the Bitcoin Trust Fund.
One look at the bitcoin’s futures price chart shows it is not a trade for the faint-hearted.
The most popular digital coin future plumbed a low of around $3,200 in December 2018. But in a few months, by early June 2019, bitcoin shot up to a high of nearly $14,000.
The Bank of International Settlements (BIS) published a report Sunday that warned banks of impending danger from companies such as Facebook, Amazon and Google due to the ability of these ‘big techs’ to establish a dominant position.