The three firms’ aim is to offer institutional adopters with the trading infrastructure, security and governance that they would expect in the traditional finance world, thereby assuaging concerns about the digital asset industry heightened by the events of the past year. Source
Despite the troubled tech space, German InsurTech firm Wefox recently raised $110 million in debt financing and fresh equity funding. On Wednesday, May 17, insurance technology startup Wefox announced $110 million in funding from investors, including JPMorgan (NYSE: JPM) and Barclays (LSE: BARC). According to Wefox, the American and British banking giants contributed half of the total funding via a revolving credit facility. The remaining $55 million came from an equity investment spearheaded by investment management platform Squarepoint Capital. The latest funding round also saw Wefox retain its $4.5 billion market capitalization from its previous…
While Elon Musk gave as much detail as he could at the event, there was no mention of the probable date the vehicles will hit the market. Elon Musk, the Chief Executive Officer of American multinational electric vehicle maker, Tesla Inc (NASDAQ: TSLA) has dropped a crucial hint that two new vehicle brands are in the works at the company. He mentioned this while at the company’s 2023 Shareholder’s meeting that was held on Tuesday. According to the vocal CEO, Tesla is indeed in the process of building new products.…
The proposal was made shortly after India added crypto to anti-money laundering rules (PMLA or Prevention of Money Laundering Act), making crypto exchanges, non-fungible token (NFT) marketplaces and custody service wallet providers legally responsible for monitoring suspicious financial activities in March 2023. The jury on what this meant for India was divided. Legal experts said this gave teeth to the regulators overseeing the industry for the first time. At the same time, advocates of the crypto industry said this gave “more legitimacy” to the sector because “adding crypto to anti-money…
Bitcoin.com is proud to announce that it has reached a significant milestone in its mission to increase the adoption of cryptocurrency worldwide: the creation of the 40 millionth crypto wallet in the multi-chain, DeFi-ready Bitcoin.com Wallet. Since its inception in June 2017, the Bitcoin.com Wallet has seen a rapid rise in user adoption, reflecting the increasing acceptance and adoption of cryptocurrency around the globe. It took nearly two years for Bitcoin.com to reach its first five million wallets. In contrast, the recent fifteen million wallets have been created in just…
Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service The Federal Tax Service of Russia (FTS) will likely be the nation’s leading regulator for the cryptocurrency sector and admit participants to the market, Deputy Finance Minister Alexey Moiseev has said in interview with the…
Initially, Apple store users across Latin America and Asia in countries including Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia and Vietnam will have access to the card-based game called Axie Infinity. The game already has 1.5 million installations across all platforms. Sky Mavis, the creator of the play-to-earn project, plans to expand the game’s outreach via Google and Apple mobile users. Source
Federal prosecutors have accused Wang for agreeing to work for a US subsidiary of a Chinese automaker a few months before he left Apple in 2018. Weibao Wang, a former Apple employee, is now facing major charges of stealing trade secrets from Apple’s self-driving car division and passing on the information to Baidu’s autonomous car project. On Tuesday, May 16, the US government accused Wang of stealing Apple’s “autonomous” source code. In the charging documents, the US government hasn’t mentioned for whom Wang works now. But as per details from…
The new collection is part of Mattel’s Hot Wheels NFT Garage Series and will be based on the Fast & Furious film franchise. The non-fungible token (NFT) market is set to move at the speed of fast cars, thanks to the decision of iconic toy maker Mattel to launch a new NFT collection. According to Mattel, the new collection is part of its Hot Wheels NFT Garage Series and will be based on the Fast & Furious film franchise. With the launch slated for May 22, the collection will go…
In its latest futures-based exchange-traded fund (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin (BTC) futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of Valkyrie’s Bitcoin-centric funds do not have direct exposure to Bitcoin itself; instead, they invest in Bitcoin futures traded on the Chicago Mercantile Exchange. Bitcoin futures are financial contracts that allow investors to speculate on the future…