INX Taps Galaxy Digital Alum as Chief Financial Officer

“[Renata] offers extensive experience in financial regulation leading finance, clearing, treasury and operations for broker dealers and brokerage firms across multiple asset classes including digital assets, securities, regulated futures contracts, foreign exchange products, derivative financial instruments and more,” said Shy Datika, co-founder and CEO of INX, in the press release. “Renata is the ideal fit for INX, especially at this crucial stage in our growth as a company.” Source AlumBitcoinChiefcryptoexchangeDigitalExchangesFinancialGalaxyINXOfficerTaps CryptoX Portal

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Dutch regulator says crypto not yet suitable as means of payment or investment

A Dutch regulator stated that the crypto derivatives market should be restricted to wholesale trade. The reasons are not unfamiliar — lack of transparency, market manipulation and “other forms of criminal activity.” On May 12, the head of Capital Markets and Transparency Supervision at the Dutch Authority for Financial Markets (AFM), Paul-Willem van Gerwen, shared his opinion on the crypto derivatives trade at the Amsterdam Propriety Traders Managers Meeting. Van Gerwen highlighted, that despite (or perhaps because of) the market’s rising interest in crypto derivatives trading, the AFM “do regard such…

Blockchain Gaming Developer N3TWORK Studios Closes $46M Funding Led by Griffin Gaming

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TerraLabs Sold Over 80,000 BTC To Rescue Its Stablecoin, Luna

The crypto market has experienced many bloodbaths in the past. But last week’s crash had more catastrophic effects on the market than recent bearish trends, mainly on the stablecoins. UST, a stablecoin issued by Terraform Labs, is an example that stunned the crypto world as the coin collapsed and dropped its value from $1 to $0.15 between May 9 to May 14, nearly losing 85% of its value. Afterward, on May 16, the Luna Foundation Guard (LFG) announced on Twitter that they had sold out their Bitcoin (BTC) reserves between…

Swiss ETP Issuer 21Shares Dives Into US Market With 2 Crypto Index Funds

“Historically, the cumulative return rate of the top dozen cryptocurrencies has vastly outperformed traditional indexes like the S&P 500, Dow Jones Industrial Average, or Nasdaq Composite,” Arthur Krause, 21Shares’ vice president of product, said in the statement. “Our two new index funds enable accredited investors to participate in cryptocurrencies without assuming the responsibility of managing custodial arrangements, tracking private keys and passwords, or being susceptible to hacking or security breaches.” Source