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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Fashion brand Aéropostale has partnered with MetaversePlus and Authentic Brands Group to create an immersive experience for its fans in the metaverse. The partnership will use non-fungible tokens (NFTs) and virtual experiences to build community and offer members-only perks and promotions.
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More Stories on Digital Assets
Digital Assets: Sovereign Wealth Funds The Unseen Gorilla In The Bitcoin Room
There has been a remarkable change in recent months in the perception of bitcoin as an investible asset. Large, listed companies have parked sizable chunks of their cash reserves in bitcoin to diversify out of the dollar and to preserve the purchasing power of the money. Institutions have invested heavily in Grayscale Investments’ various cryptocurrency trusts, with the firm receiving over $1 billion in inflows during the third quarter of 2020. As this is being written, bitcoin is trading well above the psychological resistance of $12,000. However, sovereign wealth funds have not yet joined the bitcoin party.
Digital Assets: Feminist Anti-Police Movement In Nigeria Uses Bitcoin For Funding
The Feminist Coalition Group is a group of Nigerian women working towards the aim of feminine equality in terms of rights, finances, and political and legislative power. The movement has got involved in the #EndSARS protest movement by Nigerians. After the Nigerian government blocked its bank accounts the Group has turned to bitcoin as a means to raise funds for its activities.
Digital Assets: High Inflation And Plunging Lira Push Bitcoin Adoption In Turkey
New registrations on the P2P bitcoin marketplace Paxful’s platform in Turkey have surged 274% over the past year. Given Turkey’s prevailing hyper-inflation and its fast weakening currency, Paxful is confident that crypto adoption will make massive strides in the country.
Digital Assets: Crypto exchange OKEx Halts Withdrawals Following Investigation By Chinese Police
OKEx, one of the world’s largest cryptocurrency trading platforms, suspended withdrawals after the Chinese police launched an investigation that linked to the exchange.
Digital Assets: Grayscale Reports A Blow-Out Third Quarter; Nabs $1.05B Inflows
Grayscale Investments, the largest asset manager of digital currencies in the world, said it gained $1.05 billion of inflows into its digital investment products during the third quarter of 2020. It was the biggest quarterly inflow in the firm’s history.
Digital Assets: “Bitcoin Is An Uncorrelated Asset,” Says Fidelity Report
A new report from Fidelity Digital Assets titled “Bitcoin Investment Thesis – Bitcoin’s Role As an Alternative Investment,” finds that the cryptocurrency has a very low correlation with mainstream assets such as stocks or gold.
Digital Assets: G20, IMF, WorldBank, Formulating Global Stablecoin Rules
The Group of Twenty (G20) organization of the finance heads from the EU and 19 other countries announced today that it is working alongside the International Monetary Fund (IMF), the World Bank, and the Bank for International Settlements (BIS) to standardize and formalize the use of digital currencies such as stablecoins in banking systems.
Digital Assets: Tyler Winklevoss Predicts Investment “Tsunami” In Bitcoin
Tyler Winklevoss, the famous bitcoin billionaire and co-founder of Gemini, said in a tweet that there will a tsunami of capital flows into the bitcoin cryptocurrency. He was referring to the recent multi-million dollar investments in bitcoin by MicroStrategy (NASDAQ: MSTR) and Square (NYSE: SQ).
Digital Assets: Jack Dorsey’s Square Buys $50M of Bitcoin
Square (NYSE: SQ), the payments processing company co-founded by Jack Dorsey, just signaled a massive vote of confidence in bitcoin. It bought 4,709 bitcoins for $50 million, an amount equivalent to 1% of its total assets, or about 2.5% of its cash as on June 30.
Digital Assets: As 60:40 Falters, Could Bitcoin Be An Alternative?
The traditional, rule-of-thumb portfolio allocation of 60:40 between equities and bonds is under threat. With bond yields at record lows, and likely to remain there for a few years at least, and stocks at handsome valuations, investors need to be more creative with their portfolios. That often means more risk. But bitcoin is shaping up as a worthy alternative.
Digital Assets: The U.K.’s Financial Conduct Authority (FCA) Bans Crypto Derivatives For Retail
After an 18-month study of the cryptoassets market, followed by a consultation, the U.K’s Financial Conduct Authority banned the sale of crypto-derivatives to retail customers on grounds they were “ill-suited for retail consumers due to the harm they pose.”
Digital Assets: Cyber and Crypto Legend John McAfee Arrested In Spain
Cybersecurity specialist, of McAfee AntiVirus fame, and prominent crypto personality John McAfee was arrested in Spain on charges of alleged tax evasion and fraud.
Digital Assets: Coinbase Enables Real-Time Withdrawals To Customers’ Cards
Coinbase have made it very simple to withdraw cryptos sitting in your account with them. Just sell the amount you need to your GBP, Euro, or USD wallet with Coinbase. Once you have money in any of these wallets, it’s a cinch to withdraw it directly to your Visa (NYSE: V) Fast Funds enabled credit and debit card.
Digital Assets: Venezuela Testing Decentralised Digital Exchange To Be Available Worldwide
According to reports, Venezuela will soon launch a pilot test of a decentralized stock exchange featuring both crypto and fiat currencies that can be used for trading from anywhere in the world. Presumably, the exchange will run on the Ethereum blockchain indicated by its use of ERC token models.
Digital Assets: Venezuela May Soon Use Cryptos To Evade Trade Sanctions
In a televised speech, Venezuelan President Nicolas Maduro proposed a new bill to stimulate the use of petro, the country’s homegrown digital token, and other global cryptos in domestic and international trade.
Digital Assets: Devere’s Nigel Green Says Bitcoin Would Be “Ultimate Safe Haven”
Devere Group CEO Nigel Green was speaking at an interview with MoneyFM on the occasion of the launch of new crypto indices by the Singapore Exchange. Green has been a perma-bull on cryptocurrencies, particularly bitcoin. In the interview, he cited bitcoin’s growing rate of adoption. Also, its limited availability, similar to gold, and its popularity with younger people, could boost the value of bitcoin in the future.
Digital Assets: Consensys To Work On CBDC for HK-Thai Cross-Border Payments
Consensys is a leading U.S. blockchain technology company specializing in Ethereum blockchain infrastructure and applications for new economic systems. It announced September 25 its win of a contract from the Hong Kong Monetary Authority (HKMA) for a central bank digital currency (CBDC) project.
Digital Assets: Novogratz Prefers Bitcoin To Gold; Is Short On Stocks
Michael Novogratz, the founder, CEO, and Chairman of Galaxy Digital has a bearish view of stocks and the dollar and is bullish on gold and bitcoin. But he favors bitcoin over gold for its potential greater upside.
Digital Assets: Conglomerates Employ Technology To Track Deforestation
JBS S.A. (BVMF: JBSS3), the largest meatpacker in the world, has committed to maintaining a vigil against deforestation throughout its supply chain. The Brazilian company has been under pressure from investors and environmentalists because its beef production is leading to deforestation in the Amazon. Cattle owners have been known to clear forests to make way for pasture land.
Digital Assets: Panxora Launches AI-Powered, Quantitative Hedge Fund For DeFi
The Panxora Group announced Monday its launch of a DeFi-focused hedge fund. The Cayman Island-based fund will offer investors the opportunity to invest in DeFi tokens and is already accepting subscriptions.
Digital Assets: Bithumb, South Korea’s Largest Crypto Exchange, Is On The Block
Korean media outfit, Herald reported Tuesday that Bithumb, the country’s biggest cryptocurrency exchange with more than 50% market share and 4.77 million members, is up for sale. The Herald quoted sources in the investment banking industry to say that the holding company of the exchange, Bithumb Holdings, had appointed Samjong KPMG to conduct the disposal of its stake.
Alternative Investments/Digital: Bermuda Green-Lights World’s First Bitcoin ETF
Brazilian asset management firm Hashdex and Nasdaq have collaborated on the development of a new ETF product dubbed the Hashdex Nasdaq Crypto Index ETF. The ETF will track a blockchain index that will comprise bitcoin as well as several other crypto assets. The Bermuda Stock Exchange (BSX) approved the new ETF for listing on September 18.
Digital Assets: Crypto Exchange bitFlyer Integrates Platform With PayPal
Digital exchange bitFlyer Europe announced Monday its launch of a new payment option for its users through integration with PayPal (NASDAQ: PYPL). This bridge between the two organizations will enable PayPal users to easily fund an account with the crypto exchange and thereafter commence safe and secure transactions in various cryptocurrencies.
Alternative Investments/Digital: “Front-Running Opportunity Of A Lifetime”
Former Goldman Sachs (NYSE: GS) employee and hedge fund manager Raoul Pal cites recent developments as a regulatory thaw that may augur the approval of a bitcoin ETF.