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Cryptocurrency exchange Huobi is taking aim at competitor OKEx in China, specifically the business of trading bitcoin futures and other derivatives contracts. The fight opens a new front in a longstanding rivalry. OKEx, which is led by Chinese executives and based in Malta, is the worldâs biggest crypto derivatives exchange, with outstanding contracts valued at $1.26 billion, according to the...
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Federal Reserve Chairman Jerome Powell explains the U.S. central bankâs economic approach, including how it will address its previous 2% inflation goal over the next decade ND (10:00): Powellâs done for the day. The symposium will continue through tomorrow, with Bank of England Governor Andrew Bailey giving a speech Friday morning. BK (10:00): Based on the muted market reaction after...
Ribbit Capital, a major investor in fintech startups including cryptocurrency and blockchain ventures, is seeking to raise $350 million for a âblank checkâ company that would make acquisitions. The special-purpose acquisition company (SPAC), Ribbit LEAP Ltd., filed a prospectus with the Securities and Exchange Commission late Tuesday. As a SPAC, Ribbit Leap has no operating business â it was created...
Taro Aso, Japanâs finance minister, said blockchain could provide one possible solution to COVID contact tracing, emphasizing privacy. Japanese Finance Minister Taro Aso suggested blockchain would be key in the worldâs battle against the coronavirus pandemic as the technology can be used for contact tracing while ensuring privacy. Aso gave the opening remarks for the Blockchain Global Governance Conference, also...
INX Ltd. said it will launch its long-awaited landmark initial public offering (IPO) as soon as Monday, capping a nearly two-year journey for the startup cryptocurrency and security token exchange. "It is anticipated that the offering will begin on Aug. 24, 2020, or shortly thereafter," the Gibraltar-based company said in a press release Thursday. As previously reported, INX has priced...
The Financial Conduct Authority (FCA) has granted several licenses to digital securities exchange and custodian Archax â making it one of the worldâs first authorized trading spaces for the asset-class. Archax said Wednesday it was now licensed as a multilateral trading facility (MTF) exchange, a broker and a cash and asset custodian. It is also the first crypto-asset firm to...
Institutions and the well-heeled have poured millions of dollars into a Pantera Capital fund, helping it more than double in size since it launched in 2018. The Pantera Venture Fund III has received $164.7 million in private placements from just under 200 investors, according to a Form D filing with the U.S. Securities and Exchange Commission (SEC) Friday. That's nearly...
The U.S. Federal Reserve is actively investigating distributed ledger technologies and how they might be used for digitizing the dollar. Federal Reserve Board Governor Lael Brainard said the U.S. central bank has been testing DLT over the past several years to study what a digital currency might do to the existing payments ecosystem, monetary policy, financial stability and the banking...
Bitcoiners have quickly mobilized to raise relief funds following an explosion that wreaked havoc in Beirut last week. The campaign comes as the Lebanese banking system remains in crisis. A group of Lebanese expats in Europe organized the Crypto Disaster Relief For Beirut Explosion fund, spreading the word on Instagram. The siteâs tagline: "Embracing Cryptocurrency services to bypass Lebanonâs corrupted...
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