Tag: Firm

Tether reserve attestations to be conducted by major European accounting firm

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In a step toward greater transparency and better alignment with international accounting standards, stablecoin operator Tether Holdings Limited has tapped BDO Italia to conduct regular reviews and attestations of its dollar reserves.  Tether, which operates the USDT stablecoin, officially began working with BDO Italia in July, the company disclosed on Thursday. BDO Italia will be responsible for conducting an independent review of Tether’s stablecoin reserves to ensure that each unit of USDT is backed by cash or cash equivalents. Through BDO’s reviews, Tether aims to release public attestation reports monthly…

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Bitcoin price sees firm rejection at $24.5K as traders doubt strength

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Bitcoin (BTC) returned to range resistance on Aug. 17 amid ongoing concerns that a retracement is imminent. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No success for Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $24,448 on Bitstamp, up 3.25% from the previous day’s low before diving $600 in under an hour. The momentum gained speed on the day, but the bulls faced familiar resistance at levels keeping them broadly in check since mid-June. The past week’s trips to $25,000 and beyond remained brief breakouts beyond…

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Crypto-focused venture firm Dragonfly acquires hedge fund: Bloomberg

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Cryptocurrency venture firm Dragonfly has acquired a digital asset-focused investment fund for an undisclosed amount — a move that managing partner Haseeb Qureshi said mirrors the broad consolidation trend underway in the industry.  Bloomberg reported Monday that Dragonfly purchased MetaStable Capital, a hedge fund co-founded by Naval Ravkiant in 2014, for an undisclosed sum. In doing so, Dragonfly dropped the word “Capital” from its name and underwent a complete rebranding to reflect its growing mandate in the digital asset space. Qureshi told Bloomberg that his firm is “committing to our…

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Lightning Network payment rail, DeFi trading platform and blockchain security firm raise millions

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Even with the onset of crypto winter, 2022 has been a watershed year for venture capital funding. Crypto and blockchain companies collectively raised $30.3 billion in venture capital in the first half of 2022, exceeding all of last year’s totals. While the number of deals has declined in recent months, startups at the intersection of blockchain payments, decentralized finance (DeFi) and cybersecurity are still attracting sizable interest from the VC community. The latest edition of VC Roundup highlights some of the most intriguing funding deals of the past month. Related: The risks…

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Enterprise crypto custody firm Fireblocks integrates Tokeny for token minting

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Enterprise cryptocurrency custody firm Fireblocks is set to offer token minting services through a new integration with Ethereum- and Polygon-friendly platform Tokeny. The new feature allows businesses and retail customers to mint and manage permissioned tokens, digital securities, stablecoins and loyalty programs across various trading applications, payment networks and digital banks. Fireblocks and Tokeny make use of ERC-3643 security tokens deployed on the Ethereum and Polygon blockchains. Fireblocks provides an enterprise solution for moving, storing and issuing digital assets to exchanges, lending desks, custodians, banks, trading desks and hedge funds.…

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Blockchain​.com wins registration next to parent firm on the Cayman Islands

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Blockchain.com, one of the oldest Bitcoin (BTC) infrastructure firms, is strengthening regulation and compliance efforts by securing registration in the Cayman Islands. The blockchain wallet and cryptocurrency exchange platform Blockchain.com is expanding operations in the Cayman Islands after receiving registration from the Cayman Islands Monetary Authority (CIMA). Issued on July 6, the registration officially authorizes Blockchain.com to provide custodial services, operate an exchange and offer over-the-counter crypto brokerage services for institutional clients under the CIMA’s regulatory framework. Blockchain.com’s chief business officer Lane Kasselman pointed out that the Cayman Islands is…

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CBOE’s operating expenses spiked 312% due to underperformance of acquired crypto firm

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On Friday, Chicago Board Options Exchange (CBOE), the largest options exchange in the United States, announced its second-quarter earnings results. Of particular interest was its total operating expenses, which soared 685% year-over-year from $160.6 million. CBOE explained: “This was primarily due to the $460 million impairment of goodwill recognized in the Digital reporting unit, driven by negative events and trends in the broader digital asset environment. The said environment has changed dramatically since we closed the ErisX transaction on May 2, which resulted in the accounting adjustment.” ErisX enables self-directed…

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Blockchain security firm warns of new MetaMask phishing campaign

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A cybersecurity firm has issued warnings over a new phishing campaign targeting users of the popular crypto wallet MetaMask. In a July 28 post written by Halborn’s technical education specialist Luis Lubeck, the active phishing campaign used emails to target MetaMask users and trick them into giving out their passphrase.  The firm analyzed scam emails it received in late July to warn users of the new scam. Halborn noted that at initial glance, the email looks authentic with a MetaMask header and logo, and with messages that tell users to…

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EU-regulated firm Banking Circle adopts USDC stablecoin

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Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails. The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method. The new payment feature is enabled as part of Banking Circle’s new service targeting banks and payment providers, allowing them to facilitate payments outside traditional bank rails. Coinbase, a major cryptocurrency exchange in the United States, will be one of the crypto liquidity providers for Bank Circle,…

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