Month: September 2023

Steve Cohen’s Point72 Ventures VC Firm Leads GenTwo $15M Funding Round

Point72 Ventures, through the funding round, will help GenTwo extend its offerings and also expand its international business. Securitization specialist fintech GenTwo has raised $15 million in a recently concluded Series A funding round. The round was led by venture capital firm Point72 Ventures, founded by billionaire hedge fund manager and investor Steven Cohen. The billionaire owns a baseball team โ€“ the New York Mets. GenTwo has aย PRO platformย that helps investors securitize and trade investment strategies or assets. This process is also open to non-bankable assets, including digital assets, real…

Nima Capital goes dark after dumping 9M SNY tokens, community calls it VC rug

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The price of the native token of decentralized finance (DeFi) cross-chain bridge Synapse (SNY) plummeted on Sept. 5 after an unknown liquidity provider on the platform dumped nearly 9 million SYN tokens and pulled all stablecoin liquidity from the bridge. The official X account for Synapse acknowledged the liquidity rug by an โ€œunknown liquidity provider,โ€ while clarifying that the Synapse bridge didnโ€™t face any security breach. A Synapse liquidity provider sold their SYN tokens and removed liquidity today. We’re investigating unusual activity on their wallets and are working to get…

BitMEX Co-Founder Arthur Hayes Says BTC Bull Market Is in Progress

Hayes believes that it may take the market another six to 12 months to fully respond to the bull run. BitMEX co-founder and former CEO Arthur Hayes has shared an eye-opener about Bitcoin (BTC) that may have flown over the heads of many industry participants. According to him, BTC has been on a bull run for about six months or so. However, the market is yet to react, he added. Arthur Hayes Says Market Will Soon Respond to BTC Bull Run Sharing his thoughts in a keynote speech at the…

Crypto collapses generate hundreds of millions of dollars for lawyers

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The legal industry has emerged as a major winner amid cryptocurrency collapses like FTX and Celsius, generating hundreds of millions of dollars for lawyers. Lawyers, accountants, consultants, analysts and other professionals have collected at least $700 million in fees from the bankruptcies from major crypto firms over the past year, according to a report and an analysis by The New York Times. The calculated amount includes the costs charged as part of crypto bankruptcy cases of five crypto firms such as FTX, Celsius Network, Voyager Digital, BlockFi and Genesis Global…

Can Ripple Control The XRP Price? Crypto Analysts Weigh In

The XRP token has attracted much attention, especially because of Rippleโ€™s ongoing legal battle with the US Securities and Exchange Commission (SEC). This has led to speculations on whether Ripple is able to control the XRP price or not. So crypto analysts have chimed in to share their opinions. No Ripple Effect On XRP? Pro-XRP influencer Crypto Eri stated in a tweet that she doesnโ€™t rely on the โ€œefforts of Rippleโ€ to increase XRPโ€™s value. She suggested that the crypto company hasnโ€™t done much to grow the token as it…

Hana Bank Forms Strategic Partnership with BitGo

BitGo CEO and co-founder Mike Belshe believes his company will help improve the transparency and safety of the growing South Korean digital asset industry. South Korean financial institution Hana Bank has announced its strategic partnership with crypto custody platform BitGo. According to the Korea Economic Dailyย report, the duo announced the partnership while speaking at the Korea Blockchain Week in Seoul. Hana Bank is a top bank in South Korea, with an estimated $2.4 billion net profit, Forkast reports. While the firm is vast in financial services and compliance, BitGo possesses…

US Treasury Yield Climbs as Investors Analyze Key Economic Data

The mixed economic data that has emerged is at the root of the uncertainty surrounding the Fedโ€™s monetary policy. A recent report has revealed that the US Treasury yields are currently on the rise as investors analyze key economic data released the previous week. This surge has prompted investors to contemplate what lies ahead for the nationโ€™s economy. The Morning Surge in US Treasury Yield At 4 a.m. Eastern Time, the yield on the benchmark 10-year Treasury note had reportedly risen by more than four basis points to reach 4.2182%.…

Japan’s Regulator Plans to Scrap ‘Unrealized Gains’ Tax on Crypto

Japan has been actively reassessing its crypto tax regulations since last year, with a focus on creating an environment that encourages the growth of blockchain startups within the country. Japanโ€™s financial regulator, the Financial Services Agency (FSA), has unveiled a groundbreaking proposal that could reshape the countryโ€™s crypto taxation landscape. On August 31, 2023, the FSA presented its plan to revise the tax code concerning digital assets, with the most prominent change being the potential elimination of the โ€œunrealized gainsโ€ tax on cryptocurrencies. The primary purpose of the proposal revolves…

Deribit Sees 17% Growth in Crypto Derivatives Trading Volume in August, Led by Options

โ€œThe resilience can be attributed to the strong performance of our options segment. Notably, ETH options recorded their highest volumes since March of this year. Meanwhile, BTC continues to show strength, initially buoyed by its use as a banking system hedge in March and now further invigorated by the upcoming ETF decision,โ€ Luuk Strijers, chief commercial officer at Deribit, told CryptoX. Source AugustCryptoDeribitDerivativesgrowthLedoptionsSeesTradingVolume CryptoX Portal