A draft for the approval of an expansion of crypto trading activities to non-banking members has been published by the Tel Aviv Stock Exchange (TASE) for public comments. In a TASE first, a Feb. 27 announcement stated the proposed structure will enable customers to deposit fiat money designated for investments in digital assets. Non-banking members will act as licensed providers for crypto trading and custodial services should the proposal be approved. Customer funds will be placed in an “omnibus account” as the intermediary for crypto trading activities. It will also allow clients to withdraw funds originating from the sale of …
The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal status of crypto assets. Today, tZERO Crypto informed its customers that it will be ceasing operations on March 6, following an orderly withdrawal of assets by the customers, which continue to be held by the custodian. 1/7 — tZERO (@tZERO) February 3, 2023 tZERO is …
Switzerland-based cryptocurrency firm 21Shares is betting on proof-of-stake (PoS) coins by launching a new crypto exchange-traded product (ETP) dedicated to staking. 21Shares on Jan. 18 launched the 21Shares Staking Basket Index ETP, a crypto staking index designed to track up to 10 PoS cryptocurrencies. The ETP immediately starts trading on the local stock exchange BX Swiss under the ticker STAKE. At launch, 21Shares’ STAKE ETP tracks six digital assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL) and Tezos (XTZ). The index will rebalance on a semi-annual basis in March and September in accordance with market …
Crypto futures exchange-traded funds (ETFs) managed by CSOP Asset Management have raised $73.6 million in investments ahead of their listing on the Hong Kong stock exchange on Dec. 16. In an announcement, the ETF issuer highlighted that its CSOP Bitcoin Futures ETF has raked in $53.8 million while the CSOP Ether Futures ETF has collected $19.7 million in initial investments. Both ETFs will be managed to invest in Bitcoin (BTC) and Ether (ETH) futures listed on the Chicago Mercantile Exchange to track the asset prices. According to Tim McCourt, an executive at CME Group, the listing of the ETFs shows …
Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector. It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount. Current mining activity shares similarities to historic BTC bear markets with a few caveats. Let’s explore what this means for the current Bitcoin cycle. Analysis shows that based on previous cycles the bear market may continue Bitcoin mining profitability can be measured by taking the miner’s revenue …
Companies on the Australian Securities Exchange (ASX) could be able to trade tokenized bonds, equities, funds, or carbon credits after a successful proof-of-concept trial led by the digital asset investment platform Zerocap. On Monday, Melbourne-based digital asset investment platform Zerocap told Cointelegraph it had successfully used Synfini to bridge over its custody infrastructure onto the platform as part of a trial program, allowing for the trading and clearing of Ethereum-based tokenized assets. The trial is part of ASX’s distributed ledger technology (DLT)-based settlement project Synfini which was launched in November. The platform offers clients access to ASX’s DLT infrastructure, data …