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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Upstream Data Inc., a Canadian Bitcoin mining company, has filed a patent infringement lawsuit against Crusoe Energy Systems LLC in the US District Court in Colorado. Upstream alleges that Crusoe violated their patent related to bitcoin mining technology that converts stranded natural gas into bitcoin. Upstream’s patented system utilizes stranded gas to generate electricity for cryptocurrency mining at remote oil well sites. They have deployed over 350 bitcoin mining systems in the US and Canada, addressing the issue of stranded gas venting.
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More Stories on Digital Assets
Digital Assets: A Cloud-based, Turnkey Crypto Exchange Solution From Binance
Binance, which is the world’s largest crypto exchange by trading volume, announced Monday the launch of its Binance Cloud. The Binance Cloud is an all-in-one solution for crypto market participants to launch digital asset exchanges quickly within their local markets.
FinTech: Digital Lending Startup BlockFi Raises $30 Million Series B
BlockFi Inc. provides consumer financing services. Its platform offers loans to crypto-asset owners who collateralize the loan with their crypto-assets. On the other hand, its BlockFi Interest Account (BIA) lets depositors put their crypto to work and earn monthly interest payments in the asset-type that deposited with BlockFi. The company raised $30 million in its Series ‘B’ funding round, led by Valar Ventures.
Digital Assets: CelticGold, An EU Gold Company, Advocates Bitcoin
CelticGold, a Frankfurt-based precious metals trading company, that trades “one of the largest portfolios of investment gold & silver coins and bullion worldwide,” has recommended bitcoin as an investment. “At least 10% and a maximum of 25% of one’s total assets should be invested in precious metals (mostly physically), while in cryptos and especially in Bitcoin one should hold at least 1% and a maximum of 5%,” CelticGold said in a post last week.
Digital Assets: Blockchain Securities May See New Dawn in 2020
Regulatory progress may lay the base for a revival of blockchain-based securities such as tokens and ICOs. According to Aaron Kaplan, the SEC’s strategy to crack down on digital assets and apply the rigor of traditional securities’ regulation to blockchain securities is a welcome move.
He likened it to the days of old when the criminal excesses of “bucket shops” yielded to regulation through securities law.
Digital Assets: German Banks Line Up for Licenses to Offer Crypto-Custody Services
About 40 banks have applied to Germany’s Federal Financial Supervisory Authority, or BaFin, for licenses to operate custody services for digital assets. (Coingeek)
Bafin last month released new guidelines that will impact firms offering or intending to offer custody services for digital assets such as cryptocurrencies and tokens. Effective January 1, 2020, depository or custody services for crypto assets stand classified as a financial service under the German Banking Act.
Digital Assets: Former NYSE Institutional Broker Charged and Arrested for Alleged Crypto Fraud
Former NYSE Institutional Broker Michael Ackerman Charged and Arrested for Alleged Crypto Fraud. He and two of his vehicles, Q3 Holdings, LLC and Q3 I, LP, are charged with alleged fraud and misappropriation of digital assets. Michael Ackerman allegedly raised $33 million in a fraudulent crypto trading scheme. Ackerman and his two partners misled investors by claiming they had developed an extraordinarily profitable crypto trading algorithm. One of the partners was a doctor.
Digital Assets: Bitcoin to Beat the Dow to $40K, Says Analyst Tom Lee
Bitcoin to Beat the Dow to $40K, Says Analyst Tom Lee. The Fundstrat Global Advisors co-founder said in a CNBC interview on February 10 that he expected Bitcoin to record a gain of nearly 200% after it recently broke above its 200-day moving average.
Digital Assets: Bakkt’s Bridge2 Acquisition Eyes Revolutionary Rewards-to-Crypto Conversion
The Intercontinental Exchange (ICE) announced Wednesday its agreement to acquire Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. ICE did not disclose the terms of the acquisition.
Bakkt intends to monetize for consumers the loyalty rewards programs that run on the Bridge2 platform. It will do this through its proposed Loyalty App.
FinTech: InterMex To Use Ripple’s ODL Solution For Cross-Border Transactions
International Money Express, Inc. (NASDAQ: IMXI), a cross-border remittances and payment services company operating primarily in Latin America and the Caribbean, announced its partnership with Ripple, the provider of enterprise blockchain solutions for global payments.
Digital Assets: Founding Duo of Zima Digital Assets Arrested In $7.5M Criminal Complaint
Founding Duo of Zima Digital Assets Arrested In $7.5M Criminal Complaint. The United States Secret Service arrested John Michael Caruso, 28, of Scottsdale, Arizona, and Zachary Salter, 27, of Paradise Valley, Arizona, on January 30, 2020, for allegedly conspiring to commit wire fraud and for money laundering
Digital Assets: Another Effort To Put Munis on the Blockchain – ConsenSys Rises to the Challenge
ConsenSys will attempt to put the stubbornly traditional municipal bonds market on the blockchain. A previous shy at the task by Neighborly, whose backers included Laurene Powell Jobs, proved stillborn.
ConsenSys will tokenize the $3.8 trillion municipal bonds (munis) market.
Digital Assets: Israeli CyberSecurity Firm GK8 Dares Hackers With $250K Bounty
GK8 has dared hackers to burgle a bounty of $125K stored in a cold wallet, with the promise of another payout of a $125K bonus. The first person to crack the GK8 system could, therefore, earn about 28 bitcoin for their efforts. GK8 promises unhackable custody for crypto-assets that is NEVER connected to the Internet.
Digital Assets: Bitcoin Preparing For Explosive Upside
Bitcoin in bullish setup and Bakkt futures OI at an ATH
The BTCUSD daily chart above shows a very bullish setup for the cryptocurrency. When taken with the blast-off in the open interest in Bakkt’s physically-settled Bitcoin futures market, and the continuing surge in volumes of the CME cash-settled futures contract, there is every likelihood of an explosive move higher.
Digital Assets: South Korea’s Rethink on its CBDC Strategy
South Korea is scrambling to make up for the lost time in the global moves towards central bank developed digital currencies. It now intends to constitute a new research team for the very same purpose, according to cryptonews.
Last year, it demobilized a research task force it had constituted for digital and cryptocurrencies. The ostensible reason given at the time was that South Korea had no intention of issuing a central bank digital currency (CBDC): “There is no plan to issue a CBDC in the near future because CBDC is no incentive to respond to the reduction of cash use or to increase financial inclusion.” (translated)
What seems to be the cause of the rethink by the central Bank of Korea on CBDC?
Digital Assets: Bitfinex Launches Margin Trading for Tether Gold (XAUt)
Bitfinex, the Hong Kong-based crypto exchange, commenced margin trading for Tether Gold with US dollar (XAU₮/USD), tether (XAU₮/USD₮), and bitcoin (XAU₮/BTC) on Thursday at 2:00 PM UTC.
This follows the listing of Tether Gold (XAU₮), a stablecoin backed by physical gold. Trading in XAU₮ commenced on January 24 at 2:30 PM UTC. One token represents ownership of one troy fine ounce of physical gold, held in a Swiss vault with TG Commodities.
Digital Assets: Swiss Ski Resort Zermatt Goes Crypto; Will Accept Taxes in Bitcoin
Swiss Ski Resort Zermatt Goes Crypto; Will Accept Taxes in Bitcoin. A curious mayor and the precedents from other municipalities trigger the move.
Inspired by Swiss Municipality Zug, which started accepting payments in Bitcoin in 2016, the Swiss ski resort of Zermatt followed suit.
Digital Assets: Insurance Market Evolving in Step With Growth of Cryptos
Insurance coverage for digital assets is gradually adapting to the rapid changes and growth in crypto assets, says a presentation by Marsh JLT Speciality, a global leader in risk management and insurance broking . However, 2020 will be the test year for digital assets’ insurance.
Digital Assets: Will Bitcoin be the New Gold Standard Backing ‘Fiat’ CBDCs?
The Gold Standard, which Nixon junked in 1971, might come back in a new avatar: Bitcoin
According to Hans Hauge, a crypto asset investment analyst at Ikigai Fund, bitcoin and not gold, is the most suitable asset to back the oncoming rush of Central Bank Digital Currencies (CBDCs) from various countries.
Digital Assets: Covantis, a Blockchain-based Agri-business Platform, Ties With ConsenSys
Covantis is a blockchain-focused project backed by multinational agri-business companies Cargill, Archer Daniels Midland Company, Bunge and Louis Dreyfus Company. Launched in 2018, the project aims to digitize the firms’ global shipping transactions using distributed ledger technology (DLT) and AI.
Covantis and Consensys will set up the blockchain-powered platform. The founding firms have also announced covantis.io, the new website for the project. The platform will launch this year and will initially focus on digitizing grain and oilseed post-trade execution.
Digital Assets: Tether Gold is a New Gold-backed Crypto-Asset
Tether announced the launch of the Tether Gold (XAU₮), a digital token that is backed by collateral of physical gold (XAU). These tokens can be held in a Tether wallet and reside as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain, according to a Tether announcement.
One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,581.
Digital Assets: Ray Dalio – Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are Good; Gold is Best
Ray Dalio, a long time bitcoin sceptic, again panned the cryptocurrency at Davos. Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are good; Gold is Best, he said.
Digital Assets: Square Granted US Patent For New Currency Exchange Network Including Cryptos
Payments processor Square won the US patent number 10,540,639 titled “cryptocurrency payment network” for a new network that could seamlessly process crypto-to-fiat transactions and the reverse. The transactions would occur automatically, in real-time, and instantly.
Digital Assets: UAE a Flag-bearer for Blockchain Technology Deployment
The UAE is a Flag-bearer for Blockchain Technology Deployment. A joint white paper has been issued by the World Economic Forum and the United Arab Emirates’ Centre For The Fourth Industrial Revolution. Titled “Inclusive Deployment of Blockchain: Case Studies and Learnings from the United Arab Emirates,” the paper provides global decision-makers insights into the UAE’s experience with blockchain implementation.
Digital Assets: Bitwise/ETF Trends 2020 Survey – 65% Advisors Want to Buy Bitcoin in an ETF
The Bitwise / ETF Trends 2020 Benchmark Survey of Financial Advisor Attitudes Toward Cryptoassets gives useful insight into what advisors are thinking about Bitcoin and cryptos going into 2020. ETFs and passive investing being the flavor of the season it’s easy to conclude that a Bitcoin ETF could prove immensely popular. Note that financial advisors manage roughly half of all wealth in America.