Results for: Digital Assets

Valour Inc., a leading issuer of exchange-traded products (ETPs) for digital assets, has successfully eliminated its outstanding debt, marking a significant milestone in its financial journey. This achievement, achieved through a final payment of C$5.5 million (US$4 million) on October 16, 2024, positions Valour for strategic growth and expansion within the digital asset sector. The company is now free to focus resources on innovation and exploring new product opportunities within the rapidly evolving digital asset landscape.

Emory University has become one of the first higher education institutions to embrace Bitcoin, investing $16 million in Grayscale’s Bitcoin Mini Trust. This move follows similar decisions by companies like Tesla, Block Inc., and PayPal, highlighting the growing institutional interest in digital assets. Emory’s investment, along with its holdings in Coinbase, signals a shift towards diversification and a belief in Bitcoin’s long-term potential as an alternative asset.

Caitlin Long, founder and CEO of Custodia Bank, believes that upcoming legislation in Washington will significantly impact the digital asset industry. She anticipates two key bills—a stablecoin bill and a broader market structure bill—that could regulate and shape the adoption of digital assets in the US. Long highlights the crucial debate surrounding self-custody of crypto assets and its implications for adoption and accessibility. She will be speaking at the Benzinga Future of Digital Assets event in November, offering valuable insights into this evolving landscape.

Anthony Scaramucci, a prominent figure in finance, believes the upcoming Congress will be highly supportive of crypto and could usher in significant changes to the digital asset landscape. He forecasts the classification of established protocols as ‘decentralized commodities,’ leading to greater market clarity and reduced legal risks. However, new token launches may face stricter regulations, signaling a focus on investor protection. Scaramucci also emphasizes the potential of stablecoins to bolster the U.S. dollar’s global dominance, offering a glimpse into the evolving digital asset landscape.

Pennsylvania’s House of Representatives has approved a groundbreaking bill establishing clear regulations for cryptocurrencies, including safeguarding self-custody rights and exempting them from additional taxes. This move follows similar initiatives in Oklahoma and Louisiana, signifying a growing trend towards pro-crypto legislation in the US. The bill’s passage in Pennsylvania, a key swing state, could accelerate the process of establishing comprehensive digital asset regulations at the federal level.

Shardeum, a blockchain network, is gearing up for potential regulatory changes in the US digital asset space. Chief Growth Officer Kelsey McGuire discusses their strategy for navigating evolving regulations while emphasizing the network’s commitment to stability and real-world applications.

Tesla continues to hold its Bitcoin stash, revealing no sales in the third quarter. The company’s $184 million in digital assets, largely composed of Bitcoin, remains untouched for the fifth consecutive quarter, defying market fluctuations. This unwavering commitment to Bitcoin marks a significant move in the cryptocurrency landscape.

While cryptocurrency adoption continues to surge, a new survey reveals that young male voters are not prioritizing digital asset issues in their political choices. Despite being more comfortable with crypto investments, concerns like inflation, jobs, and the economy dominate their political agenda.

Digital asset investment products saw a massive inflow of $2.2 billion last week, marking the highest weekly increase since July 2023. This surge is fueled by optimism surrounding a potential Republican victory in the upcoming U.S. presidential election, as the party is perceived as more favorable towards the digital asset sector. Bitcoin, Ethereum, and other altcoins have seen significant inflows, pushing total assets under management (AUM) closer to the $100 billion mark. Experts believe this could be the beginning of a bullish market cycle.

Hunter Horsley, CEO of Bitwise, believes blockchain has the potential to revolutionize global interactions and organizational structures, similar to the internet’s impact on society. He sees blockchain as a key enabler of financial independence and security, and believes initiatives like NFTs are making the crypto world more accessible. Horsley’s optimistic outlook is shared by many in the industry, who see blockchain as a transformative technology with long-term potential.