Minority communities are investing in crypto to escape financial discrimination

A survey provided to USA Today by Harris Poll has found that Black, Hispanic, and LGBTQ Americans are significantly more likely to own crypto assets. According to surveys of 2,010 and 2,003 U.S adults conducted during June and July, 23% of Black Americans and 17% of Hispanic Americans indicated they are currently invested in digital assets, compared to only 11% of white Americans, and 13% of the general public. 25% of LGBTQ respondents also said they hold crypto. Cryptocurrency awareness is also higher among minority groups, with half of Black…

GoldenTree Asset Management is reportedly investing in Bitcoin

New York-based asset management firm GoldenTree has reportedly added Bitcoin to its balance sheet, though the amount of this supposed investment remains unknown. According to a Friday report from financial news outlet The Street, the firm with roughly $45 billion in assets under management has purchased some Bitcoin (BTC) but has seemingly shied away from other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported the BTC purchase followed discussions between executives regarding hiring staffers familiar with crypto investments. Executives at the firm, including founder Steven…

UK FCA will spend £11M to warn people about investing in crypto

The United Kingdom’s Financial Conduct Authority (FCA) has created an 11 million pounds sterling ($15.2 million) digital marketing campaign to warn citizens about the risks associated with crypto investments. Nikhil Rathi, chief executive of the FCA, made this known in a draft speech for the agency’s webinar titled “Our Role and Business Plan” delivered on Thursday. Detailing the FCA’s decision to create the campaign fund, Rathi stated that the U.K. regulator is concerned about the increasing adoption of crypto investment among the younger demographic. According to the Rathi, “more people…

tZERO to tokenize $18M of stock for the ‘Robinhood of real estate investing’

tZERO, an alternative trading system for security tokens, has announced a partnership with real estate crowdfunding company, NYCE Group, to tokenize $18 million worth of the firm’s shares. NYCE’s stock will be tZERO’s first new listing since launching its ASPN pairing in August 2020, representing fractionalized ownership in a Colorado ski resort. Announced June 30, tZERO will support secondary trade for NYCE’s tokenized common shares once the real estate company has completed its upcoming Regulation A+ offering, subject to regulatory approval. NYCE’s shares will be tokenized using tZERO’s proprietary smart…

Porsche enters NFT sector, Mark Cuban keeps investing, and Chainlink-powered NFTs

Porsche unveils NFT subsidiary German sports car giant Porsche has drifted into the nonfungible token (NFT) market, with a June 14 announcement revealing the launch of an NFT collectible startup dubbed Fanzone. However, the car manufacturer will not be looking to tokenize its luxury vehicles at this stage, instead opting to focus on soccer-themed NFT collectibles. Fanzone, which was built from Porsche’s digital subsidiary Forward 31, has already inked partnerships with the German national men’s, women’s, and under 21 football teams. Fanzone also has a deal with the third tier of…

HSBC reportedly blacklists MicroStrategy’s stock for investing in Bitcoin

Buying MicroStrategy stock (MSTR) is reportedly no longer possible for HSBC customers on the bank’s online trading platform — HSBC InvestDirect, or HIDC. According to a supposed message from the bank to its customers, HSBC has directed users that already own MicroStrategy stock not to buy additional shares. Twitter user Camiam claimed to have received such a message from the banking giant on March 29: Hey @michael_saylor , you may want to ask your legal team if what @HSBC_CA is doing here is legal. It sure does not sound like…

Reef Finance aims to simplify DeFi investing through Baskets protocol

Reef Finance, a DeFi ecosystem powered by Polkadot, has released a new investment product aimed at helping passive investors gain access to a broader portfolio of cryptocurrencies.  Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and other crypto assets. It operates in a similar manner to exchange-traded funds, or ETFs, which are popular among traditional investors and institutional managers. Investors who use Reef Baskets have the opportunity to invest in multiple DeFi token baskets at the same time. Reef Finance describes its Baskets…

Can crypto trading and investing be taught in just one book?

Cryptocurrency books aimed at novice users or non-users tend to follow a very similar pattern. Almost all start with an obligatory “history of money” and explain why fiat is, let’s say, “flawed,” — to be polite. Then Bitcoin (BTC) in introduced, wielding a fistful of shiny new tech that can address some of these issues. The books go into mining, wallets, exchanges, Ethereum and smart contracts, altcoins and decentralized finance — also known as DeFi. Once the authors are sure that the reader is sold on the idea of buying…

Morgan Stanley introduces Bitcoin investing for millionaire clients

Institutional banking powerhouse Morgan Stanley seems to have given Bitcoin its nod of approval. Based on fresh intel via an “internal memo”, as reported on by CNBC, Morgan Stanley will give clients access to Bitcoin (BTC) investing, though only under specific conditions.  “The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter,” CNBC reported on…

Square doubles down on Bitcoin, investing another $170M

Financial services outfit Square just announced it has picked up more Bitcoin.  Square “has purchased approximately 3,318 bitcoins at an aggregate purchase price of $170 million,” the company said in a public statement on Tuesday, adding: “Combined with Square’s previous purchase of $50 million in bitcoin, this represents approximately five percent of Square’s total cash, cash equivalents and marketable securities as of December 31, 2020.” Bitcoin (BTC) has fallen significantly this week so far, dropping below the $50,000 mark after tapping a record high past $58,000, based on TradingView.com data.…