Christian music chart-toppers join crypto arena with digital fan token

Veteran Christian vocal trio Selah launched its own cryptocurrency fan token via the Rally platform on Dec. 1. Followingthe group’s latest album debuting at number one on the iTunes Christian Music chart, the 3CR8 token will give fans access to exclusive benefits such as private messages, video chats and signed merchandise. Selah, meaning “pause” in Hebrew, is a true giant of the Christian music genre, notching up 4 million albums sold and 10 Gospel Music Association Dove Awards in over two decades of making music. Step Into My Story is…

Former Chief Digital Officer at LMVH Joins Ledger

Rogers’ entry into the Ledger ecosystem coincides with the ongoing crypto hype that has seen most crypto assets rally in double digits in the past 30 days.  After working at LVMH (Moët Hennessy Louis Vuitton) since 2015 as the chief digital officer, Ian Rogers has joined the crypto hardware wallet Ledger as the chief experience officer. In his new role at Ledger, Rogers will be involved in taking charge of business-to-consumer operations and “reinventing the user experience” of Ledger’s products. Ledger has managed to develop a tamper-proof hardware wallet that…

European central bankers predict that the digital euro is at least five years away

Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called “Upgrading Money to the Digital Age: Introducing Digital Euro,” participants agreed that the current task was primarily one of getting everyone onboard with the specifics of a digital euro, putting any real implementation well into the future.  Central bank digital currencies, or CBDCs, have been an extremely popular topic of debate in recent years, but especially since the beginning of the…

Former digital head at luxury brand group LVMH takes role at Ledger

The revolving door between traditional finance and the crypto space is well established. Now, executives from the luxury goods sector appear to be following in their steps. Ian Rogers, formerly the chief digital officer at LMVH, is taking on a new role as “chief experience officer” at Ledger, the well-known French crypto hardware and software maker. LMVH was formed in 1987 from the merger of high fashion house Louis Vuitton and Moët Hennessy, which itself formed from a merger of champagne maker Moët & Chandon and cognac producer Hennessey, back…

Chinese Authorities Seize Over $4.2B Worth of Digital Assets from PlusToken Ponzi Scheme

The PlusToken Ponzi scheme is reported to have begun back in May 2018 and advertised a non-existent crypto arbitrage trading platform.  Chinese law enforcement has seized cryptocurrencies worth over $4.2 billion from the PlusToken Ponzi scheme. Apparently, a total of 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 units of BCH, and 213,724 USDT have been seized by Chinese law enforcement from seven convicts during the crackdown. This is a major crackdown that will see the Chinese government own…

UK Government to Create Digital Markets Unit to Curb Facebook and Google Dominance

Starting from 2021, a new antitrust unit by the UK government will launch a code to curb Google and Facebook dominance in the market. Moreover, technology companies will be required to be more transparent with the services they offer. The UK government is planning to implement stricter competition rules to curb Facebook Inc (NASDAQ: FB) and Google LLC (NASDAQ: GOOGL) from dominating the tech market. The British government hopes to use the new rule to prevent the tech giants from overriding smaller startups. The new antitrust unit will begin operation in…

Swiss Digital Asset Bank Sygnum Launches Blockchain Alternative to Stock Exchanges

Sygnum, a digital asset finance firm with a Swiss banking license, has launched what it says is a blockchain-based alternative to listing shares on a stock exchange. On Thursday, the company announced an “end-to-end tokenization solution,” comprising of both a primary market issuance platform called Desygnate, and SygnEx, a secondary market trading venue. The solution will provide issuers a way to raise capital, grow liquidity and transfer ownership and manage corporate actions, Sygnum said. It will also bring investors access to tokenized assets, with targeted markets being venture capital, “mid…

Galaxy Digital CEO recommends investing up to 3% of one’s net worth into Bitcoin

With the price of Bitcoin continuing to test support around $19,000, Galaxy Digital founder and CEO Mike Novogratz recommends HODLing until 2025. In a Yahoo Finance Live interview published on Wednesday, Novogratz said that the current Bitcoin (BTC) rally is being fueled by institutions and high-profile investors “slowly getting into the space.” He cited companies like PayPal and Square adopting crypto, as well as billionaire Stanley Druckenmiller recently suggesting the digital asset may pay out more than gold. “Bitcoin has become a macro asset to hedge against the debasement of…

Galaxy Digital Bitcoin Funds Raise $59M as Institutional Cash Flows In

Galaxy Digital’s bitcoin funds raised $58.7 million in their first year as predominately high-dollar buyers staked their claim to the surging cryptocurrency. The institutional fund in particular appears to capture high-rollers’ spiking interest in bitcoin. With a minimum investment of $250,000, the $55 million fund attracted 33 investors for an average allocation of $1.6 million. That’s a little less than half of what Galaxy Bitcoin Fund LP managed to raise overall. There, 56 investors pitched in at least $25,000 each for the full $3.6 million raise. Funds have long appealed…

Monex Believes Digital Yen Will Revolutionize Crypto Trading

The Bank of Japan noted last month that initiatives to test its digital yen currency are underway. As the Bank of Japan (BOJ) plans to issue its digital yen in the near future, Oki Matsumoto, head of Japan’s Monex Group, believes it will significantly revolutionize the crypto industry by making it more interoperable with legal tenders. “Central bank digital currencies will help boost trading of cryptocurrencies by providing a more convenient platform for converting cryptocurrencies into legal tenders,” Matsumoto noted.  According to Matsumoto, the issuance of central bank digital currency…