“Goldman Sachs said Mary Rich has been promoted to global head of the Digital Assets Group for private wealth management at the bank and will work with advisers to educate clients about the digital assets and blockchain technology.
Rich said the bank is offering a “full spectrum” of investments in bitcoin and digital assets, ‘whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.’
We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term.
As a firm, we believe in the possibility of blockchain technologies, and it is imperative that we continue to drive innovation and deliver solutions to our clients.”
“Investments giant BlackRock has indeed “started to dabble” in the bitcoin market, according to regulatory filings published Wednesday. BlackRock held $6.5 million in CME bitcoin futures earlier this year with an appreciation of $360,000, new SEC filings show.
BlackRock gave two of its funds the go-ahead to trade bitcoin futures in January.”
“Bitcoin’s Lightning Network-powered Venmo, Strike, is now available in El Salvador, and its team is planning on a full rollout in Europe soon along with a feature which allows users to convert their paychecks into bitcoin. Peterson said Salvadorans can now use Strike to receive remittances from their families abroad without the added hassle of currency conversion.
Our decision to enter El Salvador as our first non-U.S. market was intentional. One of the opportunities that interest us the most at Strike is our ability to deliver financial tools to emerging markets.”
“Announced Wednesday, Aave will be exploring scalable sidechains with Polygon (formerly known as Matic) to escape the high transaction fees that currently exist on Ethereum.
At launch, the Aave Market on Polygon will onboard Polygon’s native MATIC token as collateral, as well as USDC, USDT, DAI, WETH, AAVE and WBTC.
In addition to creating a sidechain that allows fast and nearly free transactions, Polygon’s ecosystem of apps includes community favourites Aavegotchi and decentralized exchange Quickswap.”
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“Commonly found in traditional financial markets, an ATS is a public platform that matches the buy and sell orders of its users. As such, it is not regulated as an exchange. ATS accounts represent a significant share of liquidity found on publicly-traded markets worldwide.
A public ATS for digital assets will allow more efficient order matching and better price discovery, bringing smaller price spreads and simplified participation for all investors.
Once launched, PEATS is expected to be a full-service electronic market providing on-chain custody and settlement. It will be regulated by the SEC and Financial Industry Regulatory Authority, or FINRA.”
“Alongside a sweeping infrastructure plan, U.S. President Joe Biden is proposing an overhaul of the corporate tax system that would finance increased spending and seek to discourage the practices of offshoring by increasing the minimum tax on U.S. corporations.
The plan seeks to set the corporate tax rate at 28%, up from the current 21% but less than the 35% it had been prior to the 2017 Tax Cuts and Jobs Act.
The President looks forward to working with Congress, and will be putting forward additional ideas in the coming weeks for reforming our tax code so that it rewards work and not wealth, and makes sure the highest income individuals pay their fair share.”
“Top central banker Agustín Carstens pushed back on claims that China could capture a “first-mover advantage” over the U.S. by issuing a central bank digital currency (CBDC) before the country whose sovereign coin has lined international monetary reserves for decades.
‘Much of this rhetoric is overblown.’ He shot down assertions that any CBDC could win a geopolitical reserve currency catfight ‘owing to its digital nature alone.'”