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: First Digital Trust Flags Off Asia’s First Rapid Settlement and Clearing Network (RSCN)
Instant settlement 24/7. Irrevocable. No counterparty risk. No middlemen. That’s the promise from First Digital Trust’s Rapid Settlement and Clearing Network (RSCN) currently in testing but due to launch in Asia by May 2020.
Alternative Investments: February 26 is the D-Day for the Wilshire Phoenix Bitcoin ETF
Will the SEC greenlight the Wilshire Phoenix Bitcoin ETF?
Crypto market participants seem to be unanimous in their opinion that the SEC will reject the Wilshire Phoenix bitcoin ETF. The SEC is due to deliver its decision on Wednesday, February 26.
Digital Assets: How CBDCs Could Use Maxonrow, the Blockchain KYC
Slowly, but surely, momentum is building up in central banks around the world to explore and test the concept of a central bank digital currency (CBDC). Developments in the US, Europe and China testify to a growing interest in replacing physical currency and coinage with a digital version. But key mental blocks remain surrounding identity verification or KYC, money-laundering, terrorism financing and privacy considerations in a digital currency. Blockchain based identity solutions such as Maxonrow may be the happy middle path.
Digital Assets: Easy Come, Easy Go; Drug Dealer Loses Keys to $56M Crypto Fortune
Clifton Collins, a former security guard, and beekeeper in Ireland struck the mother lode when he stumbled upon cannabis as a lucrative, though illegal trade. For almost 12 years Collins secretly grew cannabis at three rented locations and sold the harvests to drug dealers in Dublin. He invested the proceeds in bitcoin, a smart move that helped him stash the fortune anonymously as well as gain from its huge appreciation.
Digital Assets: Singapore-based Digital Exchange BiKi.com Launches Its First IEO in 2020
Singapore-based digital exchange BiKi.com launches its first IEO in 2020. The Initial Exchange Offering (IEO) will launch the token XB of the XueBi trading platform.
Digital Assets: Perpetrator of $147M Gemcoin Fraud Faces 10 Years in Prison
Over 70,000 victims lost $147 million in Gemcoins – the cryptocurrency that never was. There may be hope yet that the victims of the elaborate fraud committed by Steve Chen and co-conspirators could get restitution. Chen, the 62-year old mastermind of the scam, has confessed to having fraudulently fleeced $147 million from victims of his Gemcoin cryptocurrency scheme.
Digital Assets: BitGo Goes The Whole Nine Yards; Buys Harbor, Subsidiaries and All
BitGo, the leader in crypto custody services, acquires Harbor, the top name in digital securities. It’s a diversification move aimed at a role in the entire transaction chain of digital assets. In the deal, BitGo gets Harbor’s digital securities platform, as well as its broker-dealer and transfer agent subsidiaries. Financial terms of the transaction are not known.
Venture Capital: Polychain Capital to Raise $200M To Back Crypto Startups
Polychain Capital’s second venture fund, which targets a war chest of $200 million, opened at the beginning of 2020. The crypto venture fund is accepting minimum investments of $1 million for up to three years.
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.