Tag: Firm

Deutsche Bank partners with Swiss firm Taurus to offer digital asset services

On Sep. 14, Deutsche Bank, an international financial institution headquartered in Germany, divulged its strategic foray into crypto and blockchain technology after collaborating with Taurus, a Swiss enterprise with expertise in multiple domains—ranging from the issuance of digital currencies to the secure custody and trading of tokenized assets and non-fungible tokens (NFTs). Paul Maley, the head of Deutsche Bank’s securities services, stated that this move aligns with the growing demand for digital financial products among their clients. Initially, Deutsche Bank aims to provide custody services for selected crypto and certain…

This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US

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Ripple may be in the process of leaving the United States market for good as the prominent crypto firm has stated that it will be acquiring the majority of its employee candidates from countries outside the US.  Ripple Will Recruit A Workforce Overseas US-based cryptocurrency solutions provider, Ripple has enacted plans to conduct its hiring processes outside US borders. The cryptocurrency firm has stated that over 80% of its workforce will be recruited from countries outside the US that encourage crypto adoption and innovation. The decision to hire the majority…

Wash Trading: $2 Billion Lost Since 2020, Blockchain Research Firm Says

Wash trading, a deceptive practice in financial markets, has emerged as a pervasive concern within the decentralized cryptocurrency exchange (DEX) landscape, according to a recent report from Solidus Labs. The report, released on September 12 as the second part of its 2023 Crypto Market Manipulation Report, sheds light on the rampant practice of “wash trading” in these supposedly trustless platforms. The Enigma Of Wash Trading Wash trading, an illicit trading strategy where a trader simultaneously buys and sells the same asset, artificially inflates trading volumes and creates a false impression…

SEC’s Gary Gensler to hold firm on crypto enforcement in Senate hearing

Seemingly unfazed by a recent slew of court setbacks, United States Securities and Exchange Commission Chair Gary Gensler remains headstrong that his agency should be the one to reign over crypto — with plans to tell lawmakers the same on Sept. 12.  In the last two months, the securities regulator lost out to both Grayscale and Ripple — seen as a huge blow to the regulator. In his prepared testimony for the Senate Banking Committee hearing, however, Gensler will reiterate the view that crypto assets are in fact securities and should be…

Web3 Gaming and Investment Firm Animoca Raises $20M From CMCC Global, Kingsway Capital, Others

Animoca Brands has been one of the leading investors in NFTs, blockchain gaming and metaverse-related companies in recent years, with backing from the likes of Singapore’s state investment fund, Temasek. Animoca’s aim is for Mocaverse to provide Web3-native tools for users to build gaming and other entertainment products. One such product under development is Moca ID, a non-fungible token (NFT) collection designed to allow users to craft on-chain identities in order to participate in the Mocaverse ecosystem. Source

Crypto Liquidity Becoming More Concentrated Within Top Exchanges, Says Analytics Firm Kaiko

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The top crypto exchanges in the world are eating up a bigger and bigger share of the industry’s trading volume, new data suggests. Crypto insights firm Kaiko says in a new report that the eight biggest exchanges in the world account for over 91% of market depth and 89% of all volume. As it was several years ago, Binance still leads the pack. Says Kaiko, “Liquidity is concentrated and has become more concentrated over time. In 2023, the top exchange, Binance, has accounted for 30.7% of global market depth and…

Firm Eyes 70k+ BTC Inflows, This Price Target

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In a recent series of tweets, Vetle Lunde, Senior Analyst at K33 Research, delved deep into the potential ramifications of the US Bitcoin (BTC) spot ETFs. Lunde’s analysis suggests that the broader market might be significantly underestimating the transformative power of these financial instruments. Lunde’s assertion is rooted in five core reasons. He began with a bold proclamation: “The market is wrong – and dramatically underestimates the impact of US BTC ETFs (and ETH futures-based ETFs).” Why The Market Is Wrong On Bitcoin Firstly, Lunde believes that the current climate…