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.

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Digital Assets: Crypto Contagion Spreads To Miners – Iris Energy Unplugs Mining Hardware Amidst Default

November 22, 2022

Iris Energy (NASDAQ: IREN), the Australia-based bitcoin mining firm, said in a filing that it had taken down a large chunk of its mining capacity that had been used as collateral for a loan of $107.8 million. Iris defaulted on the said loan because the operation did not produce cash flow enough to service the loan obligations. The development is symptomatic of the financial stress prevalent in the digital assets market after a severe bear market led to the insolvencies of many key players including FTX, Voyager Digital, and Celsius.

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More Stories on Digital Assets

Digital Assets: Bitcoin An Insurance Policy Against Inflation [Grayscale Report]

August 25, 2020

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.

Artificial Intelligence: Deep Learning AI To Foil Cryptojacking Computer Pirates

August 24, 2020

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.

Digital Assets: Crypto Lender BlockFi Raises $50M in a Series C Round

August 21, 2020

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.

Alternative Investments/Digital Assets: CoinShares ETPs’ AUM Hits $1B

August 20, 2020

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.

Digital Assets: Institution-Focused Digital Exchange Archax Is Now FCA Regulated

August 20, 2020

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).

Digital Assets: Greenidge Gen, Once A Coal Plant, Is Now A Profitable Crypto Miner

August 19, 2020

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.

FinTech: Colibra Compensates You for Flight Delays, Now Also In Bitcoin

August 19, 2020

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.

Digital Assets: Big Investor Names Move Into Gold, Boosting Targets for Bitcoin

August 17, 2020

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.

Digital Assets: Coinbase to Allow Loans Against Bitcoin Holdings

August 14, 2020

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.

Digital Assets: NPP, A Blockchain Solution for Governments Considering a CBDC

August 13, 2020

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.

Digital Assets: Nasdaq-listed Company Microstrategy Bets $250M on Bitcoin

August 12, 2020

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.

Digital Assets: Russian Railways Advisor In Favour Of Blockchain Technology

August 11, 2020

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.

Digital Assets: JPMorgan on the Generational Divide in Alternative Assets Investing

August 6, 2020

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.

Digital Assets: Indian Government Mulling New Lockdown on Cryptocurrencies

August 5, 2020

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.

Digital Assets: Electric Capital Raises $110M For Its Second Crypto Fund

August 4, 2020

Venture capital firm Electric Capital invests in cryptocurrencies, blockchain-based businesses, fintech companies, and marketplaces. It announced Monday the close of its second fund, a $110M Seed and Series A fund, focused on crypto networks and blockchain-enabled businesses.

Digital Assets: Ransom Amounts Escalate Into Tens of Millions As Hacks Get Bolder

August 3, 2020

The Twitter (NYSE: TWTR) attack gathered a lot of notoriety, mainly because it affected the accounts of so many prominent personalities. The scam garnered roughly $120,000 for its perpetrators and was not a ransomware attack. That amount is peanuts compared to the scale of ransom attacks now being witnessed, with US-based travel management firm CWT paying $4.6 million to get back the use of its computers.

Digital Assets: Zebpay Launches OTC Crypto Desk in India to Meet Huge Demand

July 31, 2020

“There is a huge demand among traders and arbitrageurs in India for OTC desk services, and the recent Supreme Court decision reversing the ban has caught the attention of large investors and institutions eager to explore this new asset class,” says Nirmal Ranga, Vice President of Trade at Zebpay. Unsurprisingly, to cash in on this burgeoning interest in big-ticket crypto trading, Zebpay is launching an OTC Bitcoin (BTC) trading desk.

Digital Assets: Digital Assets Exchange Equos To Trade on Nasdaq

July 30, 2020

Digital assets exchange Equos is an institutional-grade exchange that caters to both individuals and institutions. It launched on July 30 and is currently live (screenshot above) for trading cryptos on a spot basis. It has plans to offer derivatives in due course of time. Meanwhile, it is likely to take the honors to be the first crypto exchange to list on a U.S. exchange.

Digital Assets: This Popular Korean Beach Will Accept Crypto Payments

July 29, 2020

Haeundae (pictured above) is South Korea’s most popular beach. Alongside is the rival Songjeong Beach, which is more popular with surfers. Both tourist spots will accept payments in cryptocurrencies, effective August 2020.

Alternative Investments/Digital Assets: World’s First Actively Managed Bitcoin ETP Launches

July 29, 2020

FiCAS AG, a Swiss crypto-asset investment firm founded by Ali Mizani Oskui, has received the approval from the SIX Swiss Exchange and other regulatory clearances to list the Bitcoin Capital Active ETP (BTCA) on the Exchange.

Digital Assets: Anybody Can Use Tokenizer To Issue Asset-Backed Tokens

July 28, 2020

The much-awaited democratization of blockchain-based tokenization is here. Now anybody, even a computer noob, can choose to tokenize one or more of their real-world assets using the Tokenizer platform.

Digital Assets: Now, A Secure XRP Wallet Running In Your Browser

July 27, 2020

Craig DeWitt is a director of product at Ripple, the blockchain payment infrastructure firm. Payburner is his project for an eCommerce platform that would enable buying, selling, paying, and donating on “both sides of the crypto commerce equation” using XRP.

Digital Assets: Quant-Crypto Fund Cambrian Lands $4.2M

July 24, 2020

Quant crypto fund manager Cambrian Asset Management has raised $4.2 million in a seed equity round, the firm said Thursday. The round’s target was initially $3 million but was increased following oversubscription. Cambrian will use the funds to enhance its technology infrastructure, operations, and research and development. The money will not form a part of its AUM.

Digital Assets: Banks and FSAs Cleared as Crypto Assets Custodians

July 23, 2020

On Wednesday, the Office of the Comptroller of the Currency wrote a letter to an unnamed bank clarifying that banks’ custody services can include cryptographic keys and other crypto-related assets. The interpretation is a huge shot in the arm for the crypto industry because custodianship is currently the preserve of digital specialist organizations operating as a state-licensed trust. With the latest opinion from the OCC, the market for crypto asset custody opens up to banks and other regulated financial entities.