Tag: Digital

SDM Financial to Present Informative Webinar on Digital Asset Derivatives for Miners, Funds, and HNWIs – Press release Bitcoin News

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press release PRESS RELEASE. SDM Financial is thrilled to announce an upcoming webinar focused on digital asset derivatives, taking place on Tuesday, May 23, 2023, at 10:30AM EDT. The webinar is tailored to provide digital asset mining firms, crypto-focused funds, and digital asset investors with valuable insights into the benefits of digital asset derivatives in effectively managing risk and optimizing returns. The webinar will feature a panel of experts who will share their knowledge and expertise: Alan Mittleman, Head of US & Derivatives at SDM Financial Matt Williams, Head of…

Banking Giant BNY Mellon Announces Its Long-Term Committment to Digital Assets

The American banking giant will be focusing on three key initiatives – distributed ledger technology, tokenization, and digital cash. Over the last few years, traditional banking players have been showing some affinity towards crypto assets and America’s oldest bank BNY Mellon is the latest to join the bandwagon. BNY Mellon is pushing for digital innovation while focusing on digital assets, not necessarily crypto. Roman Regelman, CEO of securities services and digital at BNY Mellon, said that the banking is working on initiatives that involve the use of distributed ledger technology,…

OTC Markets Secures FINRA Approval to Offer Digital Assets as Securities

If the US SEC classifies cryptocurrencies as securities, OTC Markes will be well-positioned in providing liquidity to these assets in the future. During its earnings call earlier this week, OTC Markets announced that it has secured FINRA approval in order to provide services for digital assets as securities. This is a major development as it provides a regulated market for big investors to trade crypto securities. In its quarterly report, OTC Markets mentioned that the update to its membership agreement to facilitate transactions in digital securities will allow OTC Link…

Digital assets should be valued as ‘proper property’ — Sandbox co-founder

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Digital assets such as cryptocurrencies and nonfungible tokens (NFTs) should be recognized as legitimate property, especially as more of the world’s population goes digital, argues the co-founder of The Sandbox. Speaking to Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr, during Blockchain Week Rome last week, Sebastien Borget said thso-called “digital natives” — those who grew up with and subsequently have an increased confidence with digital devices — are growing. “More than half of the world’s population is now a digital native,” said Borget. The United Nations reported in December 2021 that almost…

Digital asset market shrinks as fund outflows reach $200M: CoinShares

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On May 15, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” which revealed that digital asset investment products experienced another week of consecutive outflows, with a total of $54 million exiting the market. This brings “the total outflow to US$200m, representing 0.6% of total assets under management (AuM),” CoinShares reported.  Weekly crypto asset flows. Source: CoinShares According to the report, Bitcoin (BTC) funds witnessed outflows of $38 million. Over the past four weeks, total BTC outflows amounted to $160 million, accounting for 80% of all…

Reserve Bank of Zimbabwe Defies IMF’s Warning, Sells $39M Worth of Gold-backed Digital Tokens

Zimbabwe seeks to use gold-backed crypto tokens to salvage the country’s economic situation. The Reserve Bank of Zimbabwe has dammed any potential consequences by selling 14 billion Zimbabwean dollars ($39 million) worth of gold-backed digital tokens. That is despite an earlier warning it received from the International Monetary Fund (IMF) not to go ahead with the plans. At the time, the International body cautioned about the potential risks of the plan, suggesting that Zimbabwe would be better off liberalizing its foreign exchange market. As of May 12, the apex bank…

‘The Future of Digital Payments Lies in Web3 Payment Services’ Says Robert Miller of Fuse – Bitcoin News

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Despite not being mainstream payment solutions yet, cryptocurrency-based payments (also known as Web3 payments) already bring benefits such as lower transaction fees, Robert Miller, the vice president of growth at Fuse, a layer 1, EVM-compatible blockchain for launching dapps, has asserted. For merchants, Web3 payments come with the added benefit of what Miller called protection from “fraudulent chargebacks.” Crypto Payments Trump Traditional Payment Methods To back his assertions, Miller claimed many of the merchants that are presently experimenting with or encouraging their customers to use Web3 payments are doing so…

Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida – Bitcoin News

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On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money. Florida Puts the Brakes on CBDCs The Sunshine State has officially outlawed the use of a central bank digital currency (CBDC) following the approval of SB 7054 or HB 7049 by the Florida House of Representatives and Senate. Governor Ron DeSantis put…

Bitcoin (BTC) Miner Marathon Digital (MARA) Shares Underperform Peers on New SEC Subpoena

Despite disappointing earnings and its fair share of operational difficulties, the CEO of Canadian Hut 8 Mining (HUT) Jaime Leverton reassured investors. The miner’s gigantic stack of bitcoin, at 9,133 BTC at the end of Q1, as well as its diversification into high-performance computing hosting, “positively” distinguish the firm “from pureplay digital asset miners” who will have greater exposure to increased competition in the space after the halving, Leverton said. Source

GAO cites exposure to digital assets in exploring collapse of Signature Bank

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The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry. In a report released on May 11, the GAO said “poor governance and unsatisfactory risk-management practices” led to the collapse of Signature Bank in March. The GAO did not explicitly report that digital assets were the cause of the bank’s failure but mentioned exposure to the crypto industry alongside potential reasons. “Signature Bank had exposure to the…