Tokyo-based financial services giant SBI Holdings announced a joint investment in Coinhako, Singapore’s first licensed crypto exchange approved by the Monetary Authority of Singapore (MAS). The Coinhako investment was made via a fund jointly set up by SBI and Swiss-based Sygnum Bank, namely, the SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) Fund, according to the notice. Speaking to Cointelegraph, a MAS spokesperson…
On Dec. 15, SEBA Bank, a licensed Swiss digital assets banking platform, launched a regulated digital token backed by physical gold and exchangeable for delivery. SEBA claimed that due to its regulatory-compliant nature and the low volatility of gold prices, the gold token could eventually be used as a stablecoin for on-chain transactions. In other words, the design of the…
An association of savings banks in Germany is looking to offer crypto services to customers in a pilot test that would include the development of a crypto wallet. The association, which has more than 50 million customers, would be acting amidst a wave of cryptocurrency interest ostensibly sparked by inflation concerns and negative interest rates. However, the plan is still…
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Russia’s central bank intends to prohibit mutual funds from acquiring crypto assets or related financial instruments. The proposal, which is in line with its hard line stance on decentralized digital money, comes after the regulator urged stock exchanges to avoid trading securities tied to cryptocurrencies. Central Bank of Russia Issues Draft Directive Banning Crypto Investments for Mutual Funds The Central…
In brief Members own everything from Bitcoin to Coinbase stock The five crypto owners represent a tiny minority of Congress as a whole The total value of cryptocurrency swelled above $3 trillion in November thanks in part to new investors—including some Members of Congress. A new report from Insider highlights who on Capitol is into crypto, and calls attention to…
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that the price of cryptocurrencies, including bitcoin, could fall to zero. Noting that the crypto industry is “growing very fast,” he stressed: “We really need to roll our sleeves up and get on with it, so that by the time this becomes a much bigger issue, we’ve…
In brief Anchorage has expanded its business to include staking and lending Its CEO predicts banks will begin offering crypto to customer by the end of 2022 Anchorage, the fast growing crypto storage firm that obtained a federal bank charter in January, announced on Wednesday it has raised $350 million from the asset management giant KKR, Goldman Sachs and others.…
In the November Monthly Report, we talked about the Net Unrealized Profit/Loss (NUPL) indicator showing the market in a healthy state of unrealized profit compared to previous cycles. We can further break down that indicator into short-term holder and long-term holder groups. As for short-term holders, one of the biggest near-term concerns is that there are increasing unrealized losses in…
The CEO of investment management firm Richard Bernstein Advisors warns that cryptocurrencies are the biggest financial bubble in history. He advises investors to stay away from “bubble assets,” which include cryptocurrencies. Investment Adviser Sees Cryptos as the Biggest Financial Bubble in History Richard Bernstein, CEO of Richard Bernstein Advisors (RBA), shared his view on where the crypto market is heading…
