Financial services firm Cantor Fitzgerald has agreed to acquire a 5% stake in stablecoin issuer Tether in 2023, and WSJ reported on Nov. 24, citing business partners familiar with the matter, that the stake was worth $600 million at the time of the agreement. This could mean Tether will gain more political support as Howard Lutnick, the CEO of Cantor Fitzgerald, was named commerce secretary to US President-elect Donald Trump on November 19.
Bitcoin News posted on the X platform that financial services firm Cantor Fitzgerald believes MicroStrategy will be included in the Nasdaq 100 index next month.
On November 21, BitGo, a digital asset services company, established a subsidiary in Singapore to expand its services in the Asia-Pacific region. The BitGo Singapore subsidiary provides cold wallet storage for over 1,100 digital assets, voice trading, automated settlement, and token management services for foundations, protocols, and other organizations, among other services.
On November 9th, according to Bloomberg, the founder of cryptocurrency mixing service Bitcoin Fog has been sentenced to 12 and a half years in prison for laundering tens of millions of dollars from the dark web market that sells illegal drugs. U.S. District Judge Randolph Moss in Washington sentenced 36-year-old Roman Sterlingov to 150 months in prison in federal court in Washington. Prosecutors said Bitcoin Fog handled hundreds of millions of dollars in untraceable transactions, some of which o...
Applied Digital, a bitcoin mining escrow and Cloud as a Service company, plans to raise $375 million through a private placement of convertible notes. The notes have an annual interest rate of 2.75% and will expire in 2030, and initial purchasers can buy an additional $75 million. The company plans to use some of the funds to trade capped options to hedge shareholder dilution risk and invest about $84 million in share buybacks. Applied Digital is not directly involved in bitcoin mining, but prov...
Rich Teo, the former CEO of blockchain financial services firm Paxos, has joined the Trump family crypto project WLFI as head of stablecoins and payments.
Vincent Chok, chief executive of First Digital, a Hong Kong-based crypto custodian service, said: "Hong Kong's current approach to trading regulation is understandably more conservative and slow than some other jurisdictions, as it prioritises investor protection." However, he noted: "We would like to see the pace of regulation pick up to ensure it does not lag behind the rapid development of the industry." Hong Kong is committed to positioning itself as a global hub for cryptocurrencies, and cu...
Financial services firm Swan Bitcoin has cancelled a cryptocurrency conference scheduled for October in California due to layoffs and mine closures.
Digital asset financial services firm Galaxy Digital (GLXY) posted a net loss of $177 million for the second quarter, nearly four times the amount in the same period last year, due to the cryptocurrency market pullback. Galaxy's digital asset holdings posted a net loss of $161.70 million. Bitcoin fell 12 percent in the quarter after surging nearly 70 percent in the first three months, according to Coinglass. In the first half, Galaxy's net income was nearly $245 million, up more than 175 percent...
Odaily Planet News, financial investment services firm eToro analyst Bret Kenwell said that the U.S. June PCE report was largely in line with economists' expectations, while the core PCE index rose only slightly more than expected year-on-year. Still, there is nothing in the report to suggest that inflation will accelerate unexpectedly. Combined with a lower-than-expected CPI report earlier this month and a recent trend in lower inflation data, this should give the Federal Reserve a better chanc...
On July 23rd, Breez, a self-hosted Lightning Network-as-a-Service company, released a nodesless deployment solution for its Lightning Network SDK. According to the team: "The deployment of Liquid extends the tools of the Breez SDK to provide an end-to-end solution for self-hosted Lightning Network payments. Its main advantage is that it simplifies the experience for developers and end users by eliminating channel management, payment channels, and setup fees, while ensuring that users retain full...
Qiro Finance, a Singapore-based DeFi credit services company, announced the completion of a $1.20 million Pre-Seed round of funding led by Alliance, with participation from Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital. The specific valuation information has not been disclosed yet. Qiro Finance uses blockchain technology and stablecoin frameworks to address the huge credit gap that is prevalent in regions such as South East Asia. The project plans to use the funds to fur...
Unchained, a financial services company, has launched a new Bitcoin commercial "Sleep Safe by Bitcoin Standards".
Jack Dorsey leaves the board of Bluesky, the social networking service he funded and promoted a year ago, lamenting the sale of Twitter to Elon Musk. The Twitter co-founder promoted his new philanthropic donation to open internet protocols on a platform owned by Mr. Musk, now renamed X, which he described as "free technology". He also added X to such technologies, only to elaborate that businesses could also build on open protocols. Dole...
On April 17, crypto services company Abra announced the launch of Abra Private for private clients and Abra Prime for institutional clients such as hedge funds, venture capital firms, and crypto infrastructure companies. It is reported that Abra offers a variety of services including lending, lending, equity, income, and over the counter, supporting more than 75 cryptocurrencies and stablecoins.