Investments news-Page 84
Bitcoin volatility still a concern for CEO of BNY Mellon subsidiary
Despite BNY Mellon’s entrance into Bitcoin (BTC), the CEO of one of the company’s asset management units is still sceptical about major risks associated with the world’s largest cryptocurrency. Francesca Fornasari, head of currency solutions at BNY Mellon’s subsidiary Insight Investment, believes that Bitcoin may not be suitable for most institutional investors due to extreme volatility, low liquidity, governance issues and environment-related risks. In a Tuesday Bloomberg interview, Fornasari said that Bitcoin can be more difficult to evaluate than gold due to its massive price swings, which further complicates its possible reactions in an inflationary environment. “At the end of …
Adoption / June 30, 2021
Tom Brady and Gisele Bündchen take equity stake in FTX crypto exchange
Seven-time Super Bowl champion Tom Brady and Brazilian supermodel Gisele Bündchen are the latest celebrities to reaffirm the growing adoption of the cryptocurrency industry. West Realm Shires Services, FTX Trading Limited and Blockfolio, three companies behind major global cryptocurrency exchange business FTX, announced Tuesday a long-term partnership with Brady and Bündchen. As part of the deal, the legendary football player and model will each take equity stakes in FTX Trading and will receive crypto. Brady will serve as an ambassador for FTX, while Bündchen will take on the role of FTX’s environmental and social initiatives advisor, working on initiatives to …
Adoption / June 29, 2021
TP ICAP to launch Bitcoin exchange with Fidelity, Standard Chartered
Major global interdealer broker TP ICAP is launching a cryptocurrency trading platform with Fidelity Investments and British banking giant Standard Chartered. TP ICAP’s upcoming crypto exchange is scheduled for launch in the second half of 2021 and will initially offer trading exclusively for Bitcoin (BTC), the world’s largest cryptocurrency, Reuters reported Tuesday. Other digital assets like Ether (ETH) will be added at a later stage. Unlike the majority of typical crypto exchanges, TP ICAP’s crypto trading platform will offer post-trade infrastructure with a network of digital asset custodians as well as separate execution and settlement, intending to cut credit risks. …
Bitcoin / June 29, 2021
Cryptocurrency: The future of futures?
Many traders entering cryptocurrency markets from traditional finance may look to derivatives as vehicles for price speculation and hedging. There are plenty of choices when it comes to exchanges and instruments; however, traders should consider a few key differences between crypto futures and traditional futures before dipping a toe into this rapidly growing market. Related: 3 things every crypto trader should know about derivatives exchanges Different instruments Traders entering cryptocurrency from the traditional markets will be accustomed to futures contracts with a fixed expiration date. Although fixed expiration contracts can be found in cryptocurrency markets, a significant proportion of crypto …
Technology / June 26, 2021
Colombian capital supports blockchain and emerging tech with $2.3M fund
Colombia’s capital of Bogotá is funding blockchain development as part of the city’s broader investment in innovative technologies. According to a Monday announcement on the city of Bogotá’s official website, the municipal government will provide 8.8 billion Colombian pesos ($2.3 million) to local companies as part of four new programs in the city’s Innovation, Technology and Creative Industries Fund, or FITIC. The new funding includes a contribution of of 2.8 billion pesos, ($739,000) to the development of local blockchain startups through a program called “Hub Blockchain Bogotá.” The project aims to support 100 blockchain-focused companies in order to boost their …
Adoption / June 25, 2021
Rangers Protocol plans testnet launch for mid-July
Describing itself as a provider of “virtual worlds blockchain infrastructure,” the Rangers Protocol will open its testnet to users starting in July. In a Thursday announcement at the Global DeFi Summit, Rangers Protocol co-founder Mary Ma said the project would be aiming for a mid-July launch of its testnet following $3.7 million seed and private equity funding rounds. According to Ma, the protocol will have decentralized apps, or DApps, on its network, and will include a cross-chain protocol, nonfungible token protocol and Ethereum Virtual Machine compatible system. "In the past three years, we have solved many problems by tackling down …
Business / June 24, 2021
Chainalysis raises $100M in Series E funding led by Coatue
Blockchain analytics company Chainalysis has secured $100 million in Series E financing, bringing its total valuation to a staggering $4.2 billion and highlighting once again the tremendous growth of the cryptocurrency industry. The round was led by global investment manager Coatue, with additional participation from 9Yards Capital, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and SVB Capital, Chainalysis announced Thursday. Chainalysis said the funds will go toward expanding its blockchain data capabilities, which includes investing in new data tools, software and APIs. “We believe blockchain data is the asset that can help public and private sector organizations understand the risks and …
Business / June 24, 2021
Major players will speak at a new Bitcoin event aimed at institutional investors
The Crypto Council for Innovation is hosting a virtual event on July 21 aimed to “destigmatize mainstream narratives about Bitcoin.” According to a Thursday announcement, Square, Ark Invest and Paradigm are backing "The ₿ Word," an event on "how institutions can embrace Bitcoin." The project, scheduled for launch next month, will offer featured speakers including Twitter CEO Jack Dorsey; Blockstream founder Adam Back; Ark Invest's Cathie Wood; Michael Morell, former acting and deputy director of the United States Central Intelligence Agency; and John Newbery, director of Brink — a nonprofit focused on supporting Bitcoin (BTC) development. "The ₿ Word is …
Bitcoin / June 24, 2021
Asset manager QR launches Bitcoin ETF on Brazilian stock exchange
The Brazil Stock Exchange, or B3, has launched the trading of another Bitcoin (BTC) exchange-traded fund, marking the growing acceptance of the crypto industry in the country. Brazilian asset manager QR Asset Management started trading its Bitcoin ETF with the ticker QBTC11 on the Sao Paulo-based B3 exchange on Wednesday, Cointelegraph Brasil reported. The listing comes several months after the Brazilian Securities and Exchange Commission approved QR’s Bitcoin ETF in March alongside another crypto-based ETF by Latin American crypto investment firm Hashdex. In contrast to Hashdex’s crypto ETF product, which offers a diversified portfolio to several cryptocurrencies, QR’s ETF product …
Etf / June 24, 2021
SEC delays decision on Valkyrie Bitcoin ETF
The United States Securities and Exchange Commission has postponed its decision on whether to approve a Bitcoin (BTC) exchange-traded fund. The SEC has delayed its decision on a Bitcoin ETF filing by Texas-based family investment fund Valkyrie Digital Assets after receiving comments on the proposed rule change regarding the new fund. According to an official Tuesday filing by the SEC, the commission has found that it was appropriate to designate a longer period to take action on the proposed rule change regarding the Bitcoin ETF. Valkyrie initially filed its application for the Valkyrie Bitcoin Trust on the New York Stock …
Etf / June 23, 2021
Nasdaq Dubai rolls out trading for 3iQ’s Bitcoin Fund
Canada’s largest digital asset investment fund manager, 3iQ, is expanding its reach to global investors by listing its public Bitcoin (BTC) fund on a major market in the Middle East. 3iQ rolled out its Bitcoin Fund (QBTC) for trading on Nasdaq Dubai, according to an official statement by the exchange. Trading went live on Wednesday at 10:00 a.m. Dubai time. The new listing marks the emergence of Middle East’s first indexed digital asset-based fund, 3iQ chairman and CEO Frederick Pye previously said. Pye was optimistic about BTC price, predicting a new all-time high in 2021: “I believe that, whether it …
Bitcoin / June 23, 2021
Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes
One of the hedge funds badly burned in the infamous GME social media-driven short squeeze is closing down, while GameStop itself has just completed its $1.13-billion equity offering. According to the Financial Times, London-based White Square Capital, operated by Florian Kronawitter, has closed its main fund and will return capital to investors. White Square Capital reportedly had $440 million in assets under management at its peak. The hedge fund was one of many that suffered double-digit percentage losses from short positions in January, when the r/Wallstreetbets subreddit helped pump GME’s price from $21 on Jan. 12 to around $345 on …
Nft / June 23, 2021