Tag: Report

Goldman Sachs leads $95M funding round for blockchain payment firm Fnality — Report

Global investment bank Goldman Sachs and French universal bank BNP Paribas have reportedly led a new funding round for Fnality, a blockchain-based wholesale payments firm backed by Nomura Group. Fnality has raised 77.7 million British pounds ($95.09 million) in a second round of funding, Reuters reported on Nov. 13. In addition to Goldman and BNP Paribas, the fund raise involved participation by settlement houses like Euroclear and Depository Trust and Clearing Corporation. Other investors included the global exchange-traded fund firm WisdomTree and Fnality’s existing investor Nomura. There was also additional…

Consumer Price Index (CPI) Report Expected to Provide Some Guidance as to Potential Bitcoin Rally

Bitcoin bulls may be hoping that the expected CPI report may present some respite for BTC, which has struggled to maintain momentum. The general financial market is anticipating the Consumer Price Index (CPI) today to put some figures in perspective regarding the state of the economy. In addition to economic indicators, the content of the expected CPI will hopefully provide bulls with information that may pump Bitcoin. Bitcoin and the CPI For a few weeks, the market witnessed an interesting rally that saw the price of Bitcoin climb almost 40%. However,…

Executives Behind Backpack Wallet Gearing Up To Launch New Crypto Exchange That Aims To Protect User Funds: Report

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The creators of the Backpack wallet are reportedly gearing up to launch a new crypto exchange with the ethos of properly securing user funds. Trek Labs, a firm led by Backpack wallet creator Armani Ferrante and former FTX general counsel Can Sun, has received a crypto license from the United Arab Emirates’ regulators, the Wall Street Journal (WSJ) reports. As part of the launch, the venture aims to sell a 10% stake to investors at a valuation of more than $100 million. Backpack wallet is already an established wallet, especially…

Australian regulators will compel businesses to report cyberattacks: Report

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Australian authorities will oblige local companies to be fully transparent and report any ransomware cyberattacks on their businesses. The country’s economy lost $2.59 billion to cybercrimes in 2021.  According to a Nov. 13 report by the Australian, the national cybersecurity strategy, which is set to be revealed in November, will feature a mandatory system under which local businesses must alert the government to ransomware cyberattacks. However, this obligation won’t be backed by a fine if the company fails to comply. The companies will still be allowed to pay ransoms, although…

Bithumb plans to be first crypto exchange listed on Korea stock market: Report

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Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market.  Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ — South Korea’s version of the United States Nasdaq — with an expected listing date set for sometime in the second half of 2025. Bithumb declined to confirm whether the IPO was going ahead but admitted they had recently selected an underwriter, a company tasked with guaranteeing the…

Ex-FTX execs team up to build new crypto exchange 12 months after FTX collapse: Report

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Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds. Ex-FTX lawyer Can Sun is leading the way with Trek Labs, a Dubai-based startup that received a license to offer cryptocurrency services in the region in late October. Backpack Exchange is the name under which Trek Labs will offer those services. Sun will receive support from ex-FTX employee, Armani Ferrante, who serves as CEO of Trek’s holding company in the British…

SEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report

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The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law. SEC Chair Gary Gensler’s comments were made in response to reports that Tom Farley, a former president of the New York Stock Exchange, is now in the running to buy the bankrupt cryptocurrency exchange founded by now-convicted fraudster Sam Bankman-Fried. “If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the…

Former NYSE President Makes Move To Relaunch Bankrupt Crypto Exchange FTX: Report

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The former president of the New York Stock Exchange (NYSE) is reportedly attempting to relaunch bankrupt crypto exchange platform FTX. According to a new report by The Wall Street Journal, a company run by former NYSE president Tom Farley is joining an auction and placing bids to purchase the remnants of collapsed digital assets exchange FTX. Farley’s company – a technology firm focused on developing financial services for the crypto industry called Bullish – is joined by two other companies vying to purchase FTX. WSJ reports that an unnamed banker…

OpenSea investor marks down stake in platform by 90%: Report

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United States tech investment firm Coatue Management has marked down the value of its stake in nonfungible token (NFT) platform OpenSea by 90%. On Nov. 7, The Information reported on a document it reviewed showing that Coatue had reduced its investment from $120 million to $13 million — implying that OpenSea has fallen to an on-paper valuation of $1.4 billion. Coatue also marked down its investment in Web3 payment provider MoonPay by 90%. In January 2022, OpenSea raised $300 million in a Series C round led by crypto venture capital firm Paradigm…