Tag: Digital

Emirate to launch free zone for digital and virtual asset firms

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Ras Al Khaimah, one of the seven emirates that make up the UAE, is set to launch a free zone for digital and virtual asset companies as the country’s approach to the industry continues to attract global crypto players. The RAK Digital Assets Oasis (RAK DAO) will be a “purpose-built, innovation-enabling free zone for non-regulated activities in the virtual assets sector.” Applications will open in the second quarter of 2023, the statement said. The free zone would be dedicated to digital and virtual assets service providers in emerging technologies, such…

Crypto Broker Voyager Digital Sells $121M of Cryptocurrencies, May Foreshadow Selling Pressure for ETH, SHIB, LINK

Arkham data shows that Voyager’s largest non-stablecoin crypto holdings are 166,223 of ETH worth $271 million, 6.2 trillion of SHIB tokens worth $77 million, and 148.4 million of its own VGX token, valued at some $63 million. Further notable holdings include some $13 million of LINK, $5.5 million of Fantom’s FTM and $5 million of Bored Ape’s APE token. Source

Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022

From a consolidated balance sheet perspective, DCG held total assets of $5.3 billion as of Dec. 31, 2022, the report said. This included cash and cash equivalents of just $262 million. Investment assets, including tokens, Grayscale trust shares, venture and fund investments amounted to $670 million. The remaining assets consist mostly of assets held by divisions Grayscale and Foundry, according to DCG. Source

Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors – News Bitcoin News

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A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network, shows that the digital real token can be used in public blockchains following all compliance rules set by Brazilian laws. Digital Real Completes Stellar Blockchain Test The digital real project, a Brazilian initiative for building a central bank digital currency, is advancing toward its possible issuance. Mercado Bitcoin, a local exchange, informed…

ECB Says Digital Euro Should Focus on Online Payments First & Onboard Other DeFi Functionality Later

Although yet to decide on a digital euro, the ECB already believes the CBDC should prioritize online payments and peer-to-peer transactions. According to the European Central Bank (ECB), the upcoming digital euro should prioritize online and peer-to-peer payments. In a recent online publication, the Eurosystem banking entity explained that other possible uses of the digital euro should play second fiddle to efficient support for online transactions. Secondary roles of the central bank digital currency (CBDC) may include tax payments, welfare payment receipts, and transactional payments. Titled the “Rollout Approach for the…

Sotheby’s to Auction Neal Stepheson’s ‘Snow Crash’ Manuscript And Digital Collectibles

“Half of my life ago, with my head full of computer graphics lore and visions of a satirical cyberpunk future, I sat down to write ‘Snow Crash,’” Stephenson said in the press release. “Covered with hand-written edits and typesetting notes that have since been rendered obsolete by digital codes, it bridges the era during which video games and the Internet became ubiquitous in our lives.” Source

Galaxy Digital Completes $44M Acquisition of Celsius Self-Custody Asset GK8

Following the GK8 acquisition, Galaxy Digital plans to integrate the service with its GalaxyOne prime brokerage platform.  According to reports, Galaxy Digital has completed the $44 million acquisition of GK8, an institutional self-custody platform. The GK8 acquisition comes more than two months after Galaxy Digital secured the rights to buy the then-Celsius asset. Following the acquisition, GK8 solutions would still be accessible to the market. However, Galaxy Digital plans to integrate the self-custody platform’s tech with its own incoming prime brokerage platform, GalaxyOne. Potential Benefits of Galaxy Digital GK8 Acquisition By building…

Galaxy Digital Closes $44M Acquisition of Self-Custody Platform GK8

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