Leave it to the head of the printing press to talk about value… Federal Reserve Chairman Jerome Powell testified before the Senate Banking committee on July 11. In a statement that will make gold bugs crazy and crypto enthusiasts cheer, Powell compared Bitcoin to gold. He also shared what he thinks may be the future of U.S. currencies...Read Now
Security tokens are a multitrillion-dollar industry in the making. They offer the benefits of a blockchain-based asset… but with the security improvements crypto investors have been waiting for. Like stocks, they’ll be subject to securities regulations—offering investors more liquidity and transparency.
Below, you’ll find curated news on the most exciting developments in this sector... as well as articles to help you unravel the complex technology behind digital assets.
As you’ll see, the possibilities for this technology are endless...
Last week, Blockstack announced the first-ever SEC-qualified Reg A+ token offering. Already, the Props Project has announced the second. The Reg A+ platform lets companies raise up to $50 million from retail investors, as opposed to only from accredited investors. Security tokens incorporate the SEC’s existing regulations… While ICOs now raise 58 times less than they did just over one year ago, STOs have raised nearly $1 billion to date—with data suggesting enormous potential.Read Now
Fidelity Digital Assets—the crypto-focused branch of the major asset manager—is looking to boost its team with the addition of 10 new blockchain professionals. The new positions include a range of leadership roles, including a vice president, director, and leading software engineer… as well as non-senior positions like a blockchain software engineer, product designer, and others.Read Now
The largest U.S. cryptocurrency exchange, Coinbase, is reportedly looking to launch a captive insurance company in partnership with insurance brokerage firm Aon. Coinbase and Aon see the insurance subsidiary as a potential solution to the alleged shortage of insurance available to cryptocurrency exchanges… And such a solution allows the company to keep the money that would be normally spent on insurance premiums.Read Now
The Singaporean government’s taxation agency is proposing to remove the goods and services tax from cryptocurrency transactions that function—or are aimed to function—as a medium of exchange. The agency has also set out detailed parameters on how digital payment tokens are defined. Examples of digital payment tokens are Bitcoin, Ethereum, Litecoin, Dash, Monero, Ripple, and Zcash.Read Now
Financial institutions are entering crypto with a quickening pace, setting the tone for the remainder of 2019 and 2020. What makes these years different from ones prior is the speed of professionalization taking place in the markets. In addition, these financial institutions are supporting a variety of blockchain projects focused on commodity trade finance and shipping.Read Now
STOs are growing rapidly in volume and number. There were five STOs in 2017, with a total issuance of $65.59 million… and 35 STOs in 2018, with a total volume of $434.95 million. Equity is the most common asset class—by far the largest part of finished issuances was conducted for company equity, followed by asset-backed securities.Read Now
Banco BTG Pactual SA, Latin America’s biggest standalone investment bank, has teamed up with Dubai asset manager Dalma Capital to sell more than $1 billion worth of security tokens.The partners have a pipeline of deals for tokenization (the process of transforming real assets into tradeable digital contracts). Dalma plans to tokenize property and sports clubs, while BTG has already sold real estate-backed tokens.Read Now
Catherine Coley has been appointed as CEO of Binance’s upcoming U.S. crypto exchange. Coley will be responsible for rolling out Binance U.S., as well as expanding the exchange’s marketplace in North America. Prior to joining the firm, Coley was an executive at San Francisco-based distributed ledger tech startup Ripple. Before entering the blockchain and crypto space, Coley worked for Morgan Stanley in Hong Kong and London in the institutional foreign exchange market.Read Now
You’re always going to notice the big money players who vilify crypto. After all, it makes for good headlines and clickbait. But one lesser known, old-school billionaire has quietly invested in a cryptocurrency fund… blazing a trail others are sure to follow. You’ll want to get some exposure to this space before the institutional money pours in…Read Now
tZERO has officially launched its cryptocurrency trading app. The app immediately features two currencies—Bitcoin and Ethereum—with additional assets in the pipeline. Investors will be able to access private keys even if their mobile phones are lost, and a private key recovery system can restore funds or digital currencies.Read Now
Goldman Sachs CEO David Solomon is the latest to hop on the bitcoin/blockchain bandwagon. Solomon told French financial newspaper Les Echos that Goldman Sachs is “absolutely” considering its own cryptocurrency — following the lead of rival JPMorgan, which is testing its JPM Coin. Solomon says you should assume that all major investment banks are considering making a foray into crypto.Read Now
When does it make sense to digitize financial assets by using a security token? Max Kops, who launched his new book Assets on Blockchain, shares his insights. Security tokens have the purpose of digitizing financial assets in a way that makes them liquid and easy to transfer. This happens by moving the assets from banks onto the blockchain, where many platforms, providers, and wallets can integrate with each other.Read Now
Bitcoin broke into the mainstream in late 2017. At the time, its historic surge to nearly $20,000 was driven mainly by retail investors. Now, however, the public is still largely on the sidelines… And the number of Google searches for “bitcoin” is only around 10% of what they were in 2017. In other words, retail investor FOMO has not even started yet, which may suggest that BTC price could go much higher than before.Read Now
In addition to Libra, Facebook will be releasing a security token. The Libra Investment Token (LIT) will be a free-floating asset similar to a stock. There are strict requirements over who can purchase these tokens. For example, one needs to have either $1 billion as a traditional company or in managed cryptocurrency assets. Each LIT will be a stake in Facebook’s cryptocurrency project.Read Now
During an interview with CNBC, Fundstrat Global Advisors co-founder Tom Lee said Bitcoin could easily reach new highs and is becoming the reserve currency of the cryptocurrency space. Lee also noted it’s been worth over $9,000 in only 4% of its history—and that Facebook’s Libra project is a validation of mainstream interest in cryptocurrencies.Read Now