“Singapore-based DBS Private Bank launches Asia’s first cryptocurrency trust service backed by a bank. DBS is offering its clients the ability to invest and manage up to four assets through the bank’s wholly owned, licensed trust company DBS Trustee.
The move adds a layer of legitimacy to cryptocurrencies in the region and provides large players with a means to invest in digital assets they consider safe. The bank also offers tokenization of securities and other assets as well as providing bank-grade custody for digital assets.
In recent years, more clients have expressed interest or are already invested in digital assets and we expect this trend to accelerate as cryptocurrencies turn more mainstream.”
“Crypto derivatives exchange FTX and retail subsidiary Blockfolio plugged into Circle’s payments infrastructure on Friday, allowing users to fund their accounts with the USDC stablecoin. Users can settle bank transfers and credit card transactions in the dollar-pegged crypto.
USDC is a core treasury infrastructure for FTX and Blockfolio, rather than relying on legacy banking infrastructure.
The new API (application programming interface) plugin will work across ‘nearly 200 countries.'”
“Spanish stock exchange Bolsas y Mercados Españoles, or BME is set to test its blockchain infrastructure for small- and medium-sized enterprise financing following a successful pilot run back in 2020. The BME’s blockchain platform aims to facilitate SME financing digital assets that represent funding avenues like convertible notes and participatory loans.
As part of the second round of tests, the BME will likely be looking to examine the suitability of the Ethereum-based system in raising capital for limited liability companies outside the usual traditional bank financing route.”
“Market makers were heavily short puts in the range of $52,000 to $50,000, and I estimate were forced to sell nearly 2,900 bitcoin during the crash to offset the short gamma exposure. That likely exacerbated the bearish move.
The episode shows how the growing trade in cryptocurrency options in recent months has become a force to reckon with for participants in the underlying spot market for bitcoin, with monthly expiries proving to be a catalyst for price volatility.“
“The documents claim that NBA Top Shot moments are securities because their value increases with the success of the project. The company is also said to have used its control of NBA Top Shot to prevent investors from withdrawing funds for “months on end,” ensuring the money stays on the platform “propping up” its value.
As a result, the plaintiff is seeking rescissory damages with respect to moments purchased since the platform’s launch in June 2020. Dapper Labs has 30 days to respond to the summons.”