The Bank of England may reject Revolut’s banking license due to balance sheet concerns, while ASX Ltd opts for a conventional technology for its software overhaul instead of blockchain. HashKey Group plans to raise funds at a $1 billion valuation, and Grayscale exploits a potential loophole with a new Bitcoin ETF filing. Ledger’s controversial service launch is deemed a PR failure, and Bit Digital moves operations to Iceland for regulatory risk mitigation. Researchers suggest CBDC systems can be used for cross-border payments, and Switzerland’s canton of Zug raises the limit for tax payments in BTC and ETH.
Search Results for: ASX
ASX Abandons Blockchain Initiative: A Step Back or a Prudent Decision?
The Australian Securities Exchange (ASX) abandons blockchain integration plans for CHESS after a seven-year development period, deeming traditional technology solutions more suitable for their desired business outcomes. Despite successful prototypes and extensive testing, the initiative faced challenges, delays, and a pre-tax loss of approximately $170 million.
ASX Abandons Blockchain Plans: Balancing Innovation and Practicality in Securities Exchanges
The Australian Securities Exchange (ASX) recently abandoned plans to rebuild its software platform with blockchain after seven years of development. The decision highlights the ongoing uncertainty around this technology’s adoption within securities exchanges and the importance of balancing innovation with practicality.
MakerDAO’s $1.2B US Treasury Bonds: Boon or Risk for DeFi Ecosystem?
MakerDAO recently acquired $700 million in US Treasury bonds, raising their total allocation to $1.2 billion. The move aims to generate annualized yields of 4.5%, strengthen Maker’s platform and DAI stablecoin, and attract more participants to the DeFi ecosystem. However, it also raises concerns about potential vulnerabilities from traditional market fluctuations.
Young Aussie Investors Embrace Crypto Despite Risk Aversion: Trends & Implications
Despite considering themselves “risk averse,” 31% of young Australian investors hold or have traded cryptocurrencies, influenced by a desire to differ from previous generations and their tech-savviness. The median cryptocurrency holding is $2,700, 6% of their total portfolio value, signaling active exploration in alternative investment opportunities.
Animoca Brands’ Financial Success: Can They Sustain Growth in Uncertain NFT Market?
Hong Kong-based Animoca Brands boasts a strong financial position, holding $194 million in stablecoin reserve and $566 million in liquid digital assets as of April 30, 2023. The company experienced significant growth in 2021 and continues to actively seek opportunities in gaming and the metaverse.
Animoca Brands’ Financial Growth: A Rising Force in NFTs, Gaming, and Metaverse
Hong Kong-based Animoca Brands is in a financially strong position with $194 million in stablecoin reserves and $566 million in liquid digital assets. The company’s incomes surged from $148 million in Q4 2021 to $573 million in Q1 2022, driven by NFT and token sales. Despite challenges, Animoca Brands’ resilience and growing acceptance of blockchain technology reflect its commitment to advancing digital property rights and entertainment.