Month: January 2022

Sygnum Valued at $800M in $90M Funding Round: Report

Sygnum, which runs a digital-asset bank and trading platform, was valued at $800 million in a $90 million funding round, Bloomberg News reported on Thursday, citing a statement from the company. Hong Kong firm Sun Hung Kai & Co. led the round. Animoca Brands and Canada’s Meta Investments also participated, Bloomberg reported, citing the statement. Sygnum is based in Switzerland and Singapore. Its products include regulated trading of crypto currencies. Source

Aave launches its permissioned pool Aave Arc, with 30 institutions set to join

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Decentralized lending platform Aave has launched its permissioned lending and liquidity service Aave Arc to help institutions participate in regulation-compliant decentralized finance. As opposed to its permissionless cross-chain counterparts on the platform, Aave Arc is a permissioned liquidity pool specifically designed for institutions to maintain regulatory compliance in the decentralized finance (DeFi) space. The first of 30 entities lined up for the whitelist for Aave Arc was Fireblocks, the institutional digital asset custodian. It explained in a Jan. 5 announcement the pool “enables whitelisted institutions to securely participate in DeFi…

Raoul Pal says ‘reasonable chance’ crypto market cap could 100X by 2030

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Former Goldman Sachs hedge fund manager and Real Vision CEO Raoul Pal thinks that the crypto market cap could increase 100X by the end of this decade. At the time of writing, the total market cap of the global crypto sector stands at $2.2 trillion, and Pal told podcast Bankless Brasil “there’s a reasonable chance” this figure could grow to around $250 trillion if the crypto network adoption models continue on their current trajectory. Pal drew comparisons between the current benchmarks of other markets and asset classes such as equities,…

Singapore Tycoons’ Sons Plan Private NFT Club That Will Become an ARC to the Metaverse: Report

A son of a Singapore financier and a son of the family that started Mewah International Inc., an edible oils company, have founded ARC, a private, NFT-based social networking app that will be open to anyone who owns their non-fungible token, Bloomberg News reported on Thursday. They plan to eventually create an “ARC metaverse,” a huge virtual community that includes a gaming element. Source

Why Kevin O’Leary thinks NFTs could become bigger than Bitcoin

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Millionaire investor and crypto proponent Kevin O’Leary thinks that the NFT sector could be worth more than Bitcoin in the future. Speaking with CNBC’s Capital Connection on Jan. 5, O’Leary — also known as Mr. Wonderful — argued that NFTs provide a greater potential to attract capital than Bitcoin due to their ability to tokenize and authenticate physical assets such as cars, watches and real estate: “You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over…

Ethereum dominates among developers but competitors growing faster

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The Ethereum ecosystem still has far more developers than rival networks, but they are catching up with a faster rate of growth. Ethereum competitors such as Polkadot, Solana, and Binance Smart Chain are growing faster in terms of development activity according to crypto research firm Electric Capital which released its findings on the blockchain development ecosystem in a new report on Jan. 6. It revealed that more than 4,000 monthly active open-source developers work on Ethereum — considerably more than the 680 who work on the Bitcoin network. Across all…

El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC – Regulation Bitcoin News

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El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting Legal Framework for Bitcoin Bonds El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds. The bills will cover financial markets and investment in securities to provide a legal foundation…

Rarible fixes bug, real home and virtual twin auction, Mega City in The Sandbox

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NFT marketplace Rarible temporarily cancelled orders from OpenSea and sent a series of tweets today outlining how it plans to help combat what it called “risky sale orders” on OpenSea with a new order management tool. The tool is designed to help users differentiate between their active and inactive orders to help prevent their NFTs from being mistakenly sold even if they cancel an OpenSea order by transferring the asset to another wallet. Part of Rarible’s business model is aggregating OpenSea orders on its platform. Since late Dec. 2021, OpenSea…

First Mover Asia: Bitcoin Falls Below $44K After Fed Minutes Release.

Good morning. Here’s what’s happening: Market moves: Bitcoin slipped to below $44,000 after Fed minutes release, altcoins followed. Technician’s take: BTC broke below $45K support intraday; short-term oversold indicators intact. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC) $43,423 -5.87% Ether (ETH) $3,528 -7.4% Markets S&P 500: 4,700 -1.94% DJIA: 36,407 -1.07% Nasdaq: 15.100 -3.34% Gold: $1,810 -0.19% Market Moves Bitcoin fell below $44,000, after a Federal Reserve official in the U.S. implied a high level of discomfort with…

Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests – Mining Bitcoin News

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Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect the industry. Canaan Secures Mining Agreements With Companies in Kazakhstan China-rooted producer of coin minting equipment, Canaan, has announced it has entered into collaboration agreements with multiple crypto mining companies in Kazakhstan. Amid an ongoing crackdown on the crypto mining…