Tag Archives: AA News

The current Chairman of the US Securities and Exchange Commission – Gary Gensler – said that the agency will collaborate with government organizations to achieve “important public policy goals” in the cryptocurrency sector. His comments came shortly after the US President – Joe Biden – signed the first-ever executive order on digital assets. Gensler’s Reaction After The Executive Order The long-awaited executive order on cryptocurrencies from the White House was finally...

Earlier today, the leader of Dubai signed the “virtual assets law”, creating an independent authority for oversight of the cryptocurrency sector. The law is said to establish the United Arab Emirates (UAE)’s regulatory position in the industry. According to his announcement, the authority will “organize the issuance and trading” of virtual assets and virtual tokens, while independently authorizing “virtual asset service providers”. It will also organize the “operation” of...

Sygnum Singapore – a subsidiary of Switzerland’s Sygnum Bank – received in-principle approval from the country’s top financial regulator to conduct three additional activities. These include providing corporate finance advisory services, dealing in capital market products, and offering custodial services. Sygnum to Enable More Opportunities Upon obtaining full approval from the Monetary Authority of Singapore, the digital asset bank will be able to leverage its existing...

The Avalanche Foundation recently announced “Multiverse” – an up to $290 million (about 4 million AVAX) incentive program to help develop subnets on its network. According to a Medium blog post, the initiative will begin by supporting subnets dedicated to blockchain gaming, DeFi, NFTs, and institutional use-cases. One of the projects will focus on making a horizontally integrated blockchain built for institutional DeFi, with embedded KYC functionality. Ava Labs, Aave...

Credit Suisse – a Switzerland-based global investment bank – released a report yesterday predicting radical change to the global monetary system. Given western inflation dynamics and eastern geopolitical tensions, the firm expects a “new monetary world order” based on commodity-backed currencies to emerge – in which Bitcoin will likely benefit. Breton Woods III The analysis by investment strategist Zoltan Pozsar was titled “Bretton Woods III,” harkening back to the Bretton...

Dallas-based cryptocurrency mining organization – Blockmetrix – disclosed it had raised $43 million in a Series B investment round. Thus, the company’s total venture funding reached $50 million. Blockmetrix Stepping up According to the announcement, the fresh financing included investors from the United States, Australia, and several nations in Asia. Blockmetrix vowed to employ the $43 million to expand its operations by securing additional digital asset mining rigs. Founded...

Indian Finance Minister Nirmala Sitharaman said that she expects the central bank to roll out its digital currency this year. About the legalization of bitcoin and other digital currencies, she noted that the government is not inclined to take a position just yet. It has set in motion a consultation process, and when it ends, the government will look at the insights generated before taking a position, she clarified. India’s CBDC Plans on Track Speaking at the annual summit of...

Bain Capital Ventures, a Boston, Massachusetts-based startup-investment giant, has announced the launch of a new $560 million fund. The main goal will be to invest directly in cryptocurrency-related companies. Bloomberg’s coverage outlined that the company has already employed $100 million out of the entire amount into “a dozen efforts,” which have not been disclosed yet. The funding was closed in November last year. So far, the firm has poured funds into Compound, BlockFi,...

As announced on Monday, the Spanish banking multinational Santander Argentina partnered with Agrotoken to provide a token-backed lending service. Agrotoken is an Argentina-based agricultural commodities tokenization platform. It is also the first global infrastructure for the tokenization of agro commodities. The partnership will allow farmers to take out loans backed by Agrotoken’s commodity tokens. Some of these include soybeans (SOYA), corn (CORA), and wheat (WHEA)....

Crypto miner Hive Blockchain has announced a Supply Agreement with Intel to buy new ASIC chips. Pitched as “high-performing,” these chips will be incorporated into mining equipment that will be custom-made for Hive. The company has also struck a manufacturing deal with an ODM (original design manufacturer) that focuses on electronics manufacturing.d Intel Supply Agreement According to the official announcement, the deal is part of its US expansion plans. Hive revealed that...