Binance has imposed stricter client screening procedures upon its prime brokers, such as Hidden Road and FalconX. According to a Bloomberg report on March 19, the strategy is designed to prevent U.S. investors from accessing its trading platform. The screening enhancements are tailored for prime brokers that primarily serve institutional investors. These brokers are now required to gather comprehensive...
Galaxy Asset Management surpassed $10 billion in Assets under Management (AUM) for the first time on Feb. 29, 2024. Galaxy Digital Holdings’ institutional investing division credited the milestone to a growing enthusiasm among institutional investors for digital assets. Mike Novogratz, CEO of Galaxy Digital, announced this accomplishment on March 19 on X, characterizing it as an...
Japan’s Government Pension Investment Fund (GPIF), the largest pension fund in Japan and globally, is looking to explore investments in alternative assets such as Bitcoin (BTC) and gold. According to a Bloomberg report, GPIF revealed in a press release today that it plans to examine the possibility of accommodating Bitcoin and other commodities, including farmlands, forests and...
Crypto exchange Binance recently announced the initiation of a detailed investigation into the claims concerning Book of Meme (BOME), a Solana-based meme coin. This move came in response to allegations and community discussions about possible insider trading linked to the “BOME rat warehouse” incident. The exchange made an official statement on the X platform highlighting its commitment to market fairness...
A New York District Court jury convicted two men associated with IcomTech, a company that presented itself as specializing in cryptocurrency mining and trading, of wire fraud conspiracy. The individuals, David Brend and Gustavo Rodriguez, now potentially face up to 20 years in prison for their involvement in what was revealed to be a “Ponzi” scheme. In a verdict delivered on...
BitFuFu, a leading cryptocurrency mining company, has announced its intention to become a publicly traded entity on the Nasdaq stock exchange following a merger with Arisz Acquisition Corp. This development marks a significant milestone in the digital asset mining industry, with the merger receiving approval from the shareholders of both companies on Feb. 28, 2024. The newly formed...
Bitwise anticipates a surge in institutional investment into Bitcoin ETFs in the coming months as major financial institutions, known as “wirehouses,” start offering Bitcoin ETF trades to their clients. Matt Hougan, Bitwise’s Chief Investment Officer, shared a number of insights during a CNBC interview on Feb. 29, stating that the initial interest in Bitcoin ETFs has primarily come...
The House Financial Services Committee (HSFC) recently cast votes on a resolution aimed at nullifying a guideline from the United States Securities and Exchange Commission (SEC), which has been a barrier for banks wishing to engage in cryptocurrency custody services. During a markup hearing held on Feb. 29, the resolution saw support from both sides of the political spectrum,...
El Salvador’s President Nayib Bukele recently shared insights on X about the nation’s Bitcoin investments, revealing a potential profit margin of over 40% from its holdings. Bukele highlighted that despite previous criticisms during Bitcoin’s price lows the current market upswing would result in substantial gains if the assets were liquidated now. El Salvador, which adopted Bitcoin as legal tender alongside the...
Magic Eden, in collaboration with Yuga Labs, has launched a new Ethereum marketplace today, marking a significant milestone as the industry’s first major Ethereum platform that adheres to creator royalties. This partnership between Magic Eden, a leading cross-chain NFT platform, and Yuga Labs, a forefront web3 lifestyle and media company known for Bored Ape Yacht Club (BAYC) and...
