Tagged: digital assets

July 9, 2023 @ 12:55 pm By Omar Faridi  |  

Multichain has reportedly halted its network on a suspected $130 million hack, a move that has come just a month after the initiative’s CEO disappeared. The Multichain service stopped currently, and all bridge transactions will be stuck on the source chains. There is no confirmed… Read More

July 8, 2023 @ 5:15 pm By Omar Faridi  |  

Paul Grewal, the Chief Legal Officer at digital asset firm Coinbase (NASDAQ:COIN), recently noted that after Coinbase gave notice of it intent to move to throw out their case agiast the US Securities and Exchange Commission (SEC), they had reportedly “consented to a few extra… Read More

July 8, 2023 @ 3:25 pm By Omar Faridi  |  

Digital asset firm Gemini, one of the largest creditors of bankrupt virtual currency lending platform Genesis, has reportedly sued parent firm Digital Currency Group (DCG) and its CEO. This update has been announced the day after DCG missed the crypto exchange’s deadline for agreeing to… Read More

July 8, 2023 @ 10:07 am By Omar Faridi  |  

Jeremy Allaire, the  Co-founder & CEO of Circle, which helps businesses and developers harness the power of USDC for payments and commerce, reveals that they quietly released the first major milestone of Circle Web3 Services into production beta this week. We quietly released the first… Read More

July 7, 2023 @ 6:58 pm By Omar Faridi  |  

Nexo, which claims to be the world’s leading digital assets institution, recently marked a significant milestone with the successful completion of its independent Type 2 SOC 2 audit. This step underlines Nexo‘s commitment “to delivering industry-leading client data security and ensures an elevated experience for… Read More

July 7, 2023 @ 11:37 am By Omar Faridi  |  

TOKO, headquartered in Dubai with offices in Hong Kong, is a digital asset creation platform, created in collaboration with DLA Piper and operating within an unparalleled regulatory framework, signs joint business relationship with PwC Hong Kong in order “to offer Blockchain solutions to PwC’s global… Read More

July 7, 2023 @ 9:42 am By Omar Faridi  |  

UK Finance has released a report which sets out three key missions “to accelerate the digital transformation of the UK’s capital markets.” The report ‘Unlocking the power of securities tokenization’, produced in conjunction with Oliver Wyman, looks at “how securities tokenization (the digital representation of… Read More

July 7, 2023 @ 9:04 am By Omar Faridi  |  

The Canadian Securities Administrators (CSA) recently published guidance to help fund managers understand and comply with securities law requirements for public investment funds holding crypto assets (public crypto asset funds). The guidance aims to provide “an overview of public crypto asset funds operating in Canada… Read More

July 6, 2023 @ 4:36 pm By Omar Faridi  |  

CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced new members and leadership of the GMAC and its Subcommittees on Global Market Structure, Technical Issues, and Digital Asset Markets. CFTC announces their new Digital Asset Markets Subcommittee – Members from… Read More

July 6, 2023 @ 12:38 pm By Omar Faridi  |  

According to McKinsey‘s Web3 report, the financial-services industry has primarily adopted some of these nascent digital technologies and assets. At its peak, the daily volume of transactions “processed on so-called decentralized finance exchanges exceeded $10 billion, with various market fluctuations felt in the last twelve… Read More

July 5, 2023 @ 5:38 pm By Omar Faridi  |  

Tim Frost, CEO of digital wealth platform Yield App, says that recent price stability in bitcoin combined with a number of positive macro and regulatory signals mean the stage could be set for crypto’s next bull market. Tim Frost, CEO of digital wealth platform Yield… Read More

July 5, 2023 @ 5:35 pm By Omar Faridi  |  

On 4 July 2023, the Danish Financial Supervisory Authority made a decision that Saxo Bank A/S’ trading in crypto assets for its own account is found “to lie outside the legal business area of ​​financial institutions, including section 24 of the Financial Business Act.” On… Read More

July 4, 2023 @ 6:07 pm By Omar Faridi  |  

Coinbase (NASDAQ:COIN) stock surged significantly after the Cboe named the cryptocurrency exchange in its recent Bitcoin ETF application. Shares of Coinbase, the largest US-based digital asset exchange, surged 13% yesterday after the exchange operator Cboe stated that it would be working with Coinbase in order… Read More

July 4, 2023 @ 6:04 pm By Omar Faridi  |  

This week, it was widely reported that Singapore will soon require cryptocurrency exchanges to keep customer assets in a trust as part of efforts to ensure funds are safeguarded following the implosion of FTX in November. The city-state also plans to push ahead with a… Read More

July 4, 2023 @ 11:29 am By Omar Faridi  |  

Digital bank Revolut will stop offering Solana (SOL), Cardano (ADA), Polygon (MATIC) tokens to US clients. Revolut has reportedly cited Bakkt’s recent decision to delist the digital tokens, as they’re considered to be unregistered securities by the US Securities and Exchange Commission (SEC). The UK-based… Read More

July 4, 2023 @ 8:19 am By Omar Faridi  |  

Kraken recently revealed that it now supports the deposits and withdrawals of TrueUSD (TUSD) on the Tron Network. As explained by Kraken, Tron is a blockchain platform “where developers can deploy their own decentralized applications (dApps).” Tron is powered “by delegated proof-of-stake (DPoS), a system… Read More

July 3, 2023 @ 7:14 pm By Omar Faridi  |  

The global financial system is undergoing a fundamental shift, “with embedded crypto playing a major role in the broader adoption of digital assets.” Dynamic is helping to lead this revolution “with the development of its web3-first authentication and authorization platform that harnesses the magic of… Read More

July 2, 2023 @ 2:38 pm By Omar Faridi  |  

Through July 23, 2023, Voyager customers impacted by the Voyager bankruptcy can create a Gemini account “to withdraw their crypto in-kind, pursuant to the claims of the distribution process.” Gemini are pleased “to offer a promotional welcome to all Voyager customers who join Gemini.” New… Read More

July 1, 2023 @ 4:29 pm By Omar Faridi  |  

Institutional users recognize the long-term potential of crypto assets, according to a recent report by Binance Research which surveyed 208 respondents on their attitudes, preferences, and motivations toward cryptocurrency investments. Positive and Long-Term Outlook On Crypto as an Alternative Asset Class The Institutional Crypto Outlook… Read More

June 29, 2023 @ 5:39 pm By Omar Faridi  |  

Schroders announces a tokenized investment vehicle project to explore the capabilities for personalization and simplification of investments that blockchain technology could deliver. Schroders is participating in the Monetary Authority of Singapore’s Project Guardian, a ground-breaking initiative that aims “to develop a responsible and innovative digital… Read More