Institutional investors and wealth managers anticipate a sharp increase in digital asset fund launches, with 70% of those surveyed expecting a rise over the next 12 months, according to new research by Nickel Digital Asset Management. 92% of respondents also foresee traditional financial institutions entering the sector with their own funds, driven in part by…
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Binance, the leading cryptocurrency exchange globally in terms of trading volume, has shifted its SAFU (Secure Asset Fund for Users) reserves into the stablecoin USDC to bolster “its reliability.” During the early hours of Thursday, the platform transferred two substantial amounts of BTC and BNB. Binance Executes Dual Crypto Moves on Thursday: What’s Behind the…
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ARK Invest and 21Shares amended spot Bitcoin ETF filing seemingly addresses earlier concerns highlighted by the SEC, which is a good sign of progress, according to Bloomberg’s ETF analysts. A recent amendment to ARK Invest and 21Shares’ joint spot Bitcoin (BTC) exchange-traded fund (ETF) application could be seen as a “good sign” of progress and…
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Members of Israel’s Web3 community have launched Crypto Aid Israel, a fundraiser in support of those affected by the conflict with Hamas. The goal is to attract cryptocurrency donations to relieve the humanitarian situation of thousands of Israelis displaced by the surprise attack of Palestinian militants from Gaza. Web3 Firms Unite in Crypto Aid Israel…
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San Francisco-based crypto-native fund Momentum Capital has secured an investment of $10 million from Canada’s BM Fund. In a Monday press release, the company revealed that it acquired the new funding in July this year. The investment will be used to expand Momentum Capital’s team and support early-stage Web3 projects, as the fund seeks to uncover the next groundbreaking…
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Grayscale’s ETF was previously knocked back by the Securities and Exchange Commission and it wants it and competing ETFs approved together so none have an advantage. Crypto fund manager Grayscale is urging the Securities and Exchange Commission to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having…
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Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the coin trading platform went bankrupt last fall. Failed Crypto Firm FTX Files New Lawsuit Against Founders and Chiefs…
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The U.S. Securities and Exchange Commission (SEC) has accepted the application for a bitcoin exchange-traded fund (ETF) filed by asset manager Blackrock. The move indicates the regulator is preparing to seriously consider a bitcoin ETF and could eventually set the stage for wider adoption of crypto assets and products. SEC Adds Blackrock’s Bitcoin ETF Application…
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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured…
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A new Hong Kong-based fund is set to raise $100 million to invest in crypto companies as the city is accelerating toward its goal of becoming a global crypto hub with a more friendly regulatory stance. The ProDigital Future Fund has already secured $30 million in commitments from major Asian investment firms, including Sunwah Kingsway…
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