Tag: Firm

Crypto Mining Firm Phoenix Shares Soar 50% after Going Public in Abu Dhabi

The Phoenix public offering comes when the appetite for IPOs in the Persian Gulf region has increased in the past two years due to a number of factors. Shares of cryptocurrency mining company Phoenix Group soared 50% on Tuesday following the company’s public debut in Abu Dhabi, Bloomberg reported. According to the article, the company’s stock opened at 2.25 dirhams, showing a significant increase from the 1.50 dirhams it sold during the initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) under the trading symbol PHX on November…

Web3 firm detects major security flaw in common smart contracts

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Smart contract development firm Thirdweb reported a security vulnerability that potentially “impacts a variety of smart contracts across the Web3 ecosystem.” On Dec. 4, Thirdweb reported a vulnerability in a commonly used open-source library that could impact certain pre-built smart contracts, including some of its own. However, Thirdweb’s investigations concluded that the smart contract vulnerability has not yet been exploited, allowing a small window of opportunity for Web3 firms to avoid a possible hack. Highlighting the vulnerability’s potential to cause massive damage if not rectified immediately, Thirdweb stated: “The impacted pre-built…

KyberSwap hacker wants control, law firm says Aussie DeFi tax rules ‘non-binding’: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The hacker who stole over $46 million from the DeFi protocol KyberSwap has released a list of demands, including total control over the Kyber company and all its assets. The hacker specified a deadline for the Kyber team to fulfill the demands. A law firm in Australia described the DeFi tax guidance released by the country’s finance regulator as “toilet paper.” Cadena…

Australia’s confusing new crypto tax guidance is ‘toilet paper,’ says law firm

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Australia’s controversial new guidelines for cryptocurrency taxation should be ignored for being unclear and should probably be seen as “toilet paper,” according to an Australian law firm. On Nov. 9, the Australian Tax Office (ATO) released guidance that could impact how investors and traders involved in decentralized finance report their taxes. In a Nov. 27 blog, Cadena Legal noted the guidance was “non-binding” instead of a binding public ruling — arguing that such guidance should be seen as “toilet paper.” If you hate the ATO’s recent web guidance on crypto,…

Crypto payment firm Alchemy Pay adds SEPA deposits in Europe

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Cryptocurrency payment platform Alchemy Pay is scaling its payment options by integrating new on-ramps — or new ways to buy crypto — in Europe and the United Kingdom. Alchemy Pay has introduced new deposit options, including the Euro Instant solution, Single Euro Payments Area (SEPA) Instant, and the U.K. fast money transfer option, Faster Payments. Announcing the news on Nov. 29, Alchemy Pay noted that the new payment options aim to simplify purchasing cryptocurrencies like Bitcoin (BTC), enabling transfers to be processed in “seconds to a few minutes.” With SEPA…

Former British Chancellor’s crypto firm Copper launches tokenized securities platform

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London-based crypto trading firm Copper plans to start offering tokenized securities early next year, according to reports on Nov. 29. Under the leadership of former British Chancellor Phillip Hammond, the company expects to capitalize on institutional investors’ demand. The service is expected to be first rolled out in Abu Dhabi, United Arab Emirates, by its new arm in the country, Copper Securities. The company is reportedly in the process of securing regulatory approval from local authorities. Copper plans to use blockchain technology to provide securities financing and other payment solutions…

Digital Finance Firm SoFi Hands Its Crypto Business to Blockchain.com

SoFi’s transition away from directly offering crypto services may be tied to its decision to become a bank holding company. The U.S. Federal Reserve, as part of that approval, told the company that its crypto activities were not permissible under banking rules, though it would be allowed to continue them for two years, with the possibility of extensions, according to a regulatory filing. (Bloomberg reported on SoFi’s decision to close and the link to banking regulation earlier Wednesday.) Source

Investment Firm Republic to List Profit-Sharing Digital Security Token on INX Next Week

“The Republic Note’s listing is not just a milestone for Republic – it represents a shift in the landscape of private equity,” co-founder and CEO Kendrick Nguyen said in a statement. “Owning even one Republic Note can unlock an important new level of accessibility, transparency, and liquidity to private equity.” Original Source DigitalFirmInvestmentINXListprofitsharingRepublicSecurityTokenWeek CryptoX Portal

Santander Selects Crypto Custody Firm Taurus for Safeguarding: Source

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