Month: May 2023

Digital Currency Group (DCG) to Close Down Its Prime Brokerage Subsidiary TradeBlock

TradeBlock will officially begin the process of shutting down on May 31. Digital Currency Group (DCG), a New York-based venture capital firm that invests and provides services to crypto companies is winding down its TradeBlock subsidiary. According to a May 25 report from Bloomberg, the company, headed by Breanne Madigan, who previously worked at Goldman Sachs for 15 years, will begin the shutdown of the platform by the end of the month, specifically on May 31. TradeBlock, dedicated to providing trade execution and prime brokerage services to only institutional investors,…

Nvidia Set to Join Apple, Microsoft, Amazon in the Trillion-Dollar Market Cap Group

Due to a favorable forecast and AI adoption, Nvidia has seen explosive growth and could soon hit the trillion-dollar market cap. Nvidia Corporation (NASDAQ: NVDA) is fast approaching the trillion-dollar market cap due to its explosive stock surge. On Thursday, the chip maker’s shares jumped 26% following a robust earnings outlook and increased production scale. Nvidia’s market valuation sits at $950 billion, which is almost $200 million higher than it was at Wednesday’s close. The Santa Clara-based software and fabless company’s market capitalization is now twice as large as its…

Hardware Wallet Provider Trezor Sees 900% Jump in Sales amid Ledger Controversy

The controversy surrounding Ledger’s key-recovery service has boosted sales for its competitor Trezor. Besides, Trezor also addressed concerns over security and develops an auditable secure element through its sister company Tropic Square. The controversy surrounding Ledger’s recently released key-recovery service has ultimately benefitted hardware wallet competitor Trezor. Hardware wallet manufacturer Trezor recently reported a 900% surge in week-on-week sales. Recently, Ledger introduced the Ledger Recover service enabling users to securely store encrypted backups of their seed phrases through three custodians. This service allows users to restore their private keys in…

Binance and Gulf Innova to launch crypto exchange in Thailand in Q4 2023

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Cryptocurrency exchange Binance continues expanding its global reach by securing new regulatory approvals in Thailand. Gulf Binance — a joint crypto venture of Binance and Gulf Energy’s innovation arm Gulf Innova — has received digital asset operator licenses from Thailand’s Ministry of Finance. The licenses enable the firm to operate a crypto exchange regulated by the country’s Securities and Exchange Commission. Announcing the news on May 26, Binance said Gulf Binance is set to launch a new digital asset exchange in Thailand by Q4 2023. The new crypto venture will…

Digital Currency Group (DCG) is Closing Down TradeBlock

Digital Currency Group (DCG), the parent company of CoinDesk is closing down its trade execution and prime brokerage services unit, TradeBlock, citing crypto winter and regulatory uncertainties. The shutdown of the unit, which provides trading services to institutional investors, will be effective as of May 31, a DCG spokesperson told CoinDesk. TradeBlock was acquired in 2020 by CoinDesk, and was later spun out as its own standalone business. CoinDesk kept the index data operating from the deal, which was rebranded as CoinDesk Indices, and “has proven to be a successful…

EU regulator urges crypto firms to disclose regulatory status of products

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The European Union’s financial watchdog has issued a statement reminding investment firms to make sure their clients are aware of the regulatory status of the products they are offering.  In an announcement, the European Securities and Markets Authority (ESMA) highlighted crypto assets and reminded companies that while regulation is on the way, crypto will remain unregulated in most jurisdictions. The ESMA stated: “Specifically on crypto assets, while the Markets in Crypto-Assets Regulation (MiCA) is close to adoption, crypto assets offered by investment firms will continue to be unregulated in most jurisdictions until MiCA…

Platinium Group is Release NFT F1 Tickets

Elie Zerbib, Co-Founder of Bary told CoinDesk that NFTs in the form of tickets offer buyers transparency, traceability, seamless digital ticketing, personalization and engagement. However, for a sport that has amassed fans from all over the world, easy onboarding is an essential tenet. Source

Dubai calls for more collaboration between watchdogs to combat scams

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Dubai’s Financial Services Authority (FSA) has called for more communication and collaboration between global financial regulators to make it harder for rogue actors to exploit crypto regulatory loopholes across various jurisdictions. As bitcoin (BTC) and other cryptocurrencies continue their slow match toward mainstream adoption, with an estimated 420 million people around the world now using these nascent digital assets, the need for amenable regulations that would foster consumer protection and curb illicit practices cannot be overemphasized.…

Grand Theft Auto (GTA) 6 to Incorporate Play-to-Earn Model Featuring Crypto

Recent leaks suggest that the upcoming GTA 6 video game could adopt play-to-earn gaming mechanics that see gamers earn crypto in real life.  According to reports, Grand Theft Auto (GTA) 6 could adopt a play-to-earn gaming and business model. Yesterday, a tweet hinted at this development, as the successful gaming franchise is rumored to release the next iteration in 2024. Although GTA 6 gameplay mechanics and micro-transaction specifics is unknown, observers believe the game could adopt blockchain technology. This approach could see gamers convert funds made during gameplay to money usable…