Get your daily, bite-sized digest of cryptoasset and blockchain-related news investigating the stories flying beneath the radar of todays crypto news.
- Fir Tree Capital Management, a USD 4bn hedge fund, constructed ways to short typically the most popular stablecoin tether (USDT) within an asymmetric trade, meaning the downside risk is small and potential to create money is excellent, Bloomberg reported, citing clients of the firm. Fir Tree is betting that its short wager could visit a payday within 12 months since it expects that Tether’s roughly USD 24bn in high-yield commercial paper might lose value because of problems in Chinas’ property sector.
- Alan Chang, chief revenue officer for financial firm Revolut, is leaving this position for a fresh crypto venture and is wanting to raise USD 100m in financing, Bloomberg reported, citing people acquainted with the matter. He’s got already invested huge amount of money in to the new venture himself, per the report.
- Capital raising firm Bessemer Venture Partners announced it has dedicated USD 250m to crypto and entrepreneurs which are powering the decentralized future. The firm will undoubtedly be concentrating on three core areas: consumer crypto, Web3 infrastructure, and DeFi.
- Decentralized platform for trading perpetual futures Hubble Exchange raised USD 3.3m in a strategic partnership led by DeFi investment adviser Framework Ventures. Funds from the raise will undoubtedly be used to scale the engineering team to keep developing the protocol before its mainnet launch in April, they added.
- THE UNITED STATES Department of Labor (DOL) warned firms marketing investments in cryptoassets to 401(k) plans as potential investment choices for plan participants to exercise extreme care before they consider adding a crypto option. They add that fiduciaries must act solely in the financial interests of plan participants and that those that breach those duties are personally responsible for any losses to the program caused by that breach.
- US Senators Bill Cassidy and Marsha Blackburn introduced the ‘Say No To the SilkRoad Act’, which may set new regulations and guidelines to crack down on the Chinese Communist Partys digital yuan. They declare that the digital currency can be used to get personal data on users and bypass sanctions, and suggest that the relevant authorities issue warning contrary to the usage of the currency and propose trade enforcement actions.
- THE UNITED KINGDOM Financial Conduct Authority (FCA) warned that crypto ATMs should be registered using them and adhere to UK Money Laundering Regulations, but that no firms previously registered have already been approved to provide crypto ATM services. The FCA said it’ll be contacting the operators of existing crypto ATMs in the united kingdom, instructing that the machines be turn off or face further action.
- The Bank of Israel published a draft circular coping with managing anti-money laundering and combatting the financing of terrorism risks in cryptoasset payment services. Banking corporations will undoubtedly be required to clarify the foundation of the money found in the purchase of virtual currencies and the road by which the virtual currencies passed from enough time of the purchase before conversion to fiat currency, they added.
- Jamaica plans to provide JMD 2,500 (USD 16) of free money to the initial 100,000 citizens who use its soon-to-be-launched Jam-Dex central bank digital currency (CBDC). Nigel Clarke, Minister of Finance, said that the national CBDC rollout is scheduled for the start of the April to June quarter.
- Fashion brand DIESEL announced the launch of the so-called D:VERSE, a fresh NFT collection which includes unique NFT editions of runway showpieces, in addition to physical (and limited-run) garments, sneakers, and accessories. It will include a D:VERSE-KEY, a token which will give exclusive rights for discounted NFT pre-sales, raffles, free airdrops, additional metaverse wearables, and news about new projects.
- Handmade cards manufacturer Cartamundi Group and entertainment giant Warner Bros. Consumer Products with respect to DC are launching DC Hybrid Trading Cards by Hro, that may enable fans to unlock the DC Multiverse and collect, trade, and purchase the first-ever DC-based hybrid NFT trading cards featuring DC superheroes and villains. The cards should hit shelves and digital wallets in March 2022, with additional and limited-edition content coming over summer and winter.
- FTX.US Derivatives, the derivatives trading arm of crypto exchange FTX.US, asked the united states Commodity Futures Trading Commission (CFTC) to permit the trading platform to clear margined derivatives trades directly for customers. Their current derivatives clearing organization license requires full collateralization of derivative positions via an intermediary, as the change allows derivatives risks to be transparently assessed and mitigated instantly.
- Decentralized multi-chain liquidity enabler Symbiosis Finance, backed by Blockchain.com, Binance Labs, Amber Group, and much more, announced it really is ready for a beta mainnet launch. The project supports four decentralized exchanges at launch, such as Uniswap, PancakeSwap, Pangolin, and QuickSwap, with an increase of to check out.
- Princeton University is launching an initiative on blockchain which will convene scholars across disciplines to raised understand the potential benefits and pitfalls of the technology. The initiative received initial funding from four alumni who they say are leaders in technology, investing, and blockchain.
- THE UNITED STATES Department of Justice (DOJ) announced that Canadian police officers have seized approximately USD 28m in bitcoin (BTC) from Sebastien Vachon-Desjardins, a Canadian man who was simply extradited from Canada to america on an indictment that charges him with participation in the NetWalker ransomware.