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
Digital Assets: Riot Blockchain Raked In $31.6M In Texas Energy Credits During The August Heat Wave
In August 2023, Riot Blockchain Inc (NASDAQ: RIOT), a Texas-based bitcoin mining company, experienced a significant boost in revenues, primarily driven by Demand Response Credits and power credits. Despite producing 11% fewer bitcoins compared to the same month in 2022, Riot witnessed a staggering 2,933% year-on-year increase in Demand Response Credits. Revenues generated from power credits soared by 709%, resulting in a total of $31.6 million in combined revenues from energy credits.
Digital Assets: Coinbase Unveils Institutional Crypto Lending Service
Coinbase has introduced a new crypto lending service tailored for institutional clients in the United States. This move is in response to filling the void created by challenges faced by companies like Genesis and BlockFi. The announcement of this crypto lending program was made discreetly through a filing with the US Securities and Exchange Commission (SEC) on September 1. Coinbase seeks exemptions for this service under its subsidiary, Coinbase Credit, Inc., and Coinbase’s CFO, Alesia Haas, is mentioned as a related individual.
Digital Assets: SEC Postpones A Decision on Spot Bitcoin ETFs Yet Again
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on spot bitcoin exchange-traded fund (ETF) applications, including those from BlackRock (NYSE: BLK), Fidelity, and others, until October. This delay, outlined in agency filings, has caused a 4.65% drop in the price of bitcoin over the past 24 hours, bringing it down to $25,961.12.
Digital Assets: Nodal Power Raises $13M For Converting Landfill Methane To Green Energy
Nodal Power, based in Utah, has successfully raised $13 million in a seed funding round for its innovative technology that converts landfill gas into energy to power Bitcoin mining centers. The company aims to reduce methane emissions from landfills by utilizing the gas for mining operations.
Digital Assets: Grayscale’s Stand Upheld; Court Rules Against SEC In Bitcoin ETF Conversion Lawsuit
However, the SEC may prefer an appeal against the ruling in favor of Grayscale. Grayscale, the digital asset management firm, has emerged victorious in its legal battle against the Securities and Exchange Commission (SEC). The U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of Grayscale, directing the SEC to overturn…
Digital Assets: Visa And Mastercard Wind Down Card Tie-Ups With Crypto Exchange Binance
Mastercard (NYSE: MA) and Visa (NYSE: V) are stepping away from their card partnerships with Binance Holdings, a move that distances them from the cryptocurrency platform due to regulatory pressures globally. Visa has ceased issuing new co-branded cards with Binance in Europe since July, and Mastercard is set to completely end its card partnership with Binance in September.
Venture Capital: SpyCloud Lands $110M For Its Identity Protection Platform
SpyCloud, a leading provider of identity threat protection, has secured a $110 million growth round of funding led by Riverwood Capital. The company specializes in automating the safeguarding of digital identities against sophisticated cyber threats. SpyCloud’s innovative approach involves utilizing a proprietary engine to collect and analyze data from the criminal underground. This data is then used to automate the remediation of exposed authentication and identity information. The funding will be instrumental in driving global expansion, particularly in the realms of enterprise and consumer protection, investigations, and authentication bypass prevention.
Digital Assets: Solana Pay, A Payment Protocol Based On The Solana Blockchain, Integrates Into Shopify
Solana Pay, a decentralized payments protocol built on Solana by Solana Labs, has integrated with Shopify Inc. (NYSE: SHOP), a global commerce company. This integration enables millions of businesses to use Solana Pay as a payment option. Solana Pay offers real-time access to funds, improved working capital management, and direct payment settlement using USD stablecoins (USDC) compatible with Solana.
Digital Assets: GDA’s New 8 MW Bitcoin Mining Facility In Sweden To Run On Clean Hydro Energy
Genesis Digital Assets Limited (GDA), a prominent bitcoin mining company with a substantial hash rate, has announced a further expansion of its mining capabilities in Sweden. The new “sustainable” facility, operational since June 2023, is located in the northern part of the country and is currently equipped with an 8 MW data center.
Digital Assets: Ledger and PayPal Integrate For Crypto Transactions
Ledger and PayPal (NASDAQ: PYPL) have joined forces to simplify the process of entering and transacting in the world of cryptocurrency. The integration allows users to conveniently and securely transact cryptocurrencies through the Ledger Live companion app.
FinTech: Crypto Network Stellar Buys Piece Of MoneyGram International
Stellar, a cross-border cryptocurrency payments network, has strategically invested in MoneyGram International, a prominent money transfer company, solidifying their years-long collaboration. Although the exact monetary value remains undisclosed, this move accentuates Stellar’s dedication to digital advancements in the fintech realm.
Alternative Investments/Digital: A New YieldMax ETF Uses Calls On CoinBase To Generate Income
YieldMax™ has introduced a new ETF on August 15, 2023, titled YieldMax™ COIN Option Income Strategy ETF (NYSEARCA: CONY). It employs a synthetic covered call approach to generate monthly income from Coinbase Global, Inc. (NASDAQ: COIN).
Digital Assets: A Sustainability-Focused Spot Bitcoin ETF Launches In Europe
London-based Jacobi Asset Management has launched today Europe’s first Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, ahead of the U.S. The Jacobi FT Wilshire Bitcoin ETF, trading under the ticker BCOIN, charges a 1.5% annual management fee and is listed on Euronext Amsterdam. Fidelity Digital Assets serves as custodian, while Flow Traders acts as market maker, with authorized participants including Jane Street and DRW.
Digital Assets: Bernstein Paints Bullish Picture Of Crypto If SEC Flags Off A Spot Bitcoin ETF
A recent report from brokerage firm Bernstein highlights the potential significance of approving Bitcoin Spot Exchange-Traded Funds (ETFs) in driving a new cycle of growth in the cryptocurrency market. These ETFs not only create demand in the spot market but also trigger a positive market signal, attracting retail and institutional flows seeking legitimacy.
Digital Assets: Mike Novogratz Expects SEC To Greenlight Spot Bitcoin ETF In Six Months
Galaxy Digital CEO Mike Novogratz is hopeful that the U.S. SEC could approve a spot Bitcoin exchange-traded fund (ETF) within 4 to 6 months. He based this premise on his contacts at major asset management firms Blackrock (NYSE: BLK) and Invesco (NYSE: IVZ), both of which have filed for Bitcoin ETFs with the SEC.
Digital Assets: Billionaire PE Investor David Rubenstein Speaks Well Of Bitcoin
Billionaire investor David Rubenstein, co-founder of The Carlyle Group, said he believed Bitcoin was here to stay due to its significant and enduring appeal.
Digital Assets: Bitfarms To Construct 50MW Bitcoin Mining Farm Powered By Paraguay Hydro
Bitfarms Ltd. (NASDAQ: BITF), a global Bitcoin mining company, has begun the first development phase for its 150 MW hydropower contracts in Paraguay. The company is building a 50 MW mining farm in Paso Pe, Paraguay, near its Villarrica facility. The new farm, set to be commissioned in Q1 2024, includes a 30 MW air-cooled warehouse and 20 MW of hydro-cooled miners in containers, obtained with vendor credits to reduce cash outlay.
Digital Assets: PayPal Is The First Major Finance Company In The USA To Issue A Stablecoin
PayPal (NASDAQ: PYPL) has introduced a stablecoin called PayPal USD (PYUSD), which is backed by U.S. dollar deposits, short-term U.S. treasuries, and similar cash equivalents. The stablecoin can be redeemed 1:1 for U.S. dollars. This move is aimed at harnessing the potential of stablecoins in web3 and digital native environments. PayPal USD is designed for digital payments and Web3 compatibility and will be accessible on various platforms.
Digital Assets: Blockchain Fintech Figure Technologies Withdraws Banking Charter Application
Figure Technologies, a blockchain startup founded by former SoFi CEO Mike Cagney, has decided not to pursue a national bank charter any longer, as confirmed by the Office of the Comptroller of the Currency. The company initially applied for the charter in 2020, hoping it would simplify its operations and enable them to reach a wider range of underserved customers.
Digital Assets: KPMG Issues Report On Bitcoin Mining And Its Favorable Impact On The Environment
KPMG, a major accounting firm, analyzed Bitcoin’s alignment with environmental, social, and governance (ESG) principles, highlighting its potential contributions to sustainability. The report focuses on four carbon-reduction techniques used by bitcoin mining firms.
Digital Assets: MicroStrategy Reverts To Profitability; Plans Stock Sale Of $750M To Fund More Bitcoin Shopping
MicroStrategy (NASDAQ: MSTR), a US software company, announced its intention to add significantly to its Bitcoin holdings by funding the purchase through a stock sale of up to $750 million. The firm has been accumulating Bitcoin since August 2020, and its CEO, Michael Saylor, is a vocal supporter of the cryptocurrency.
Venture Capital: Google Launches VC Fund In Asia Focused On Female-Led AI Startups
Google (NASDAQ: GOOGL) has launched the Google for Startups Women Founders Fund, a fund dedicated to supporting female-founded startups in the Asia-Pacific region, where women often face challenges in business. The fund will provide $100,000 in equity-free cash to six startups this year, focusing on India, Japan, and South Korea initially, and later expanding to other Asia-Pacific markets.
Digital Assets: SEC’s Demand Would Have Sounded The Death Knell For Crypto (Brian Armstrong, Coinbase)
Coinbase CEO Brian Armstrong revealed that the U.S. SEC asked the company (NASDAQ: COIN) to delist all cryptocurrencies except Bitcoin, which he believed would have led to the demise of the entire cryptocurrency industry in the United States.
Digital Assets: Crypto Rife With Fraud And Hucksters, Says Gensler
During a recent interview with Bloomberg TV, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), said the cryptocurrency sector was speculative and plagued by fraudulent activities.