On Thursday, Adidas announced it was entering the Metaverse in collaboration with Bored Ape Yacht Club, gmoney NFT, and PUNKS Comic. In an article posted on the Adidas mobile app, the developers behind the initiative said the following: This autumn, Adidas, known for celebrating ideas at the bleeding edge of originality, it settling in at the frontier of creativity: The…
The United States Securities and Exchange Commission, or SEC, has officially disapproved asset manager WisdomTree’s spot Bitcoin (BTC) exchange-traded fund (ETF) after deferring on a decision several times this year. According to a Wednesday filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of WisdomTree’s Bitcoin Trust. Specifically, the SEC said any…
The characteristically volatile nature of the cryptocurrency market is back in full force on Dec. 2 after the optimism of the past couple of days has transformed into fear and Bitcoin price slid back below $57,000. Despite the pressure being exerted on many of the top cryptocurrencies, several altcoins have managed to buck the trend and post double-digit gains on…
Following Jack Dorsey’s resignation announcement on Monday, two days later Dorsey’s payments company, Square Inc., disclosed that it was rebranding and changing its name to Block Inc. The company said the name Block has “many associated meanings” including the term “blockchain.” Square Changes Name to ‘Block’ — Square Crypto Rebrands to ‘Spiral’ On Wednesday, Square Inc., the firm founded in…
Crypto converted another Wall Street veteran this week after former Citi executive Matt Zhang launched a $1.5 billion digital asset fund. A new funding mechanism allowing users to access early-stage crypto startups shined the spotlight on Cardano’s massive community. One of Latin America’s biggest crypto exchanges raised $50 million in private funding to expand its operations. 1inch Network raised another…
The U.S. Securities and Exchange Commission today rejected another application for a Bitcoin ETF. The SEC denied financial services company WisdomTree’s application for an exchange-traded fund, saying in a letter that it did not meet criteria “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.” An ETF is an investment tool that…
Goldman Sachs and a handful of other Wall Street banks are exploring ways to do institutional cash loans with bitcoin as collateral, CoinDesk reported. The report cited three people familiar with the plans of a group of tier-one U.S. banking institutions interested in the activity. However, most banks would not custody “physical” bitcoin to make the loans but instead, resort…
On Thursday, registered investment adviser and fintech firm Defiance announced it has launched the first nonfungible token (NFT)-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. The fund is listed under the ticker symbol NFTZ and has a management fee of 0.65% per year. The fund does not directly buy and hold NFTs to store in wallets. Instead,…
Speaking publicly for the last time as a member of the Board of Governors of the Federal Reserve System, Randal Quarles urged regulators to exercise restraint on stablecoins. In a prepared statement for his speech at the American Enterprise Institute on Dec. 2, Quarles expressed concern that regulations could hamper innovation in the digital asset space, particularly when it comes…
After Thanksgiving Thursday, Black Friday and Cyber Monday comes Giving Tuesday, a day that encourages contributing to charity. 2021 saw a rise in crypto-philanthropy thanks to The Giving Block’s initiative of Crypto Giving Tuesday, which initially began in 2019. The organization that equips nonprofits to accept cryptocurrency donations raised $2.4 million dollars in crypto this year, a 583% increase from…
