Jacobi opens European mark with Spot Bitcoin ETF on Euronext Amsterdam
London-based Jacobi Asset Management has launched Europe’s first physical Bitcoin ETF on Euronext Amsterdam, nearly two years after its initial approval. The ETF, named Jacobi FT Wilshere Bitcoin, is overseen by the Guernsey Financial Services Commission and has the ticker “BCOIN”. Fidelity Digital Assets handles custody, while Flow Traders is the market maker. Despite approval in 2021, Jacobi postponed the launch due to crypto market volatility last year.
SEC about to decide on Grayscale
Eric Balchunas, senior ETF analyst at Bloomberg, indicated that the SEC may soon announce a significant decision on Grayscale Investments. The decision is expected to impact the approval of Bitcoin exchange-traded products (ETPs). Many are paying attention to the recent orders, especially from Blackrock (NYSE:BLK), which has partnered with Coinbase (NASDAQ:COIN). Grayscale criticizes the SEC for approving Bitcoin futures ETFs and rejecting spot Bitcoin ETFs as inconsistent. Several companies such as BlackRock and ArkInvest are seeking SEC approval for their Bitcoin ETPs, while Grayscale is questioning the commission’s criteria. One post suggests that a verdict in the Grayscale case is imminent, given the typical chronology of similar decisions.
Binance US tries to limit SEC investigation
Binance US, the North American branch of digital asset exchange Binance, is seeking to narrow the scope of the investigation carried out by the SEC. After allegations of improper registration and other issues in June, the parties agreed to a consent order allowing for “limited accelerated discovery” by the SEC. However, Binance US alleges that the SEC overstepped this agreement by making sweeping and unwarranted claims. The exchange stresses its cooperation by providing documents and argues that the SEC’s requirements are overblown, suggesting testimonials from more knowledgeable people about users’ assets.
Prime Trust files for bankruptcy protection after shortfall in client funds
Prime Trust, notorious for its cryptocurrency escrow services, surprised by filing for Chapter 11 bankruptcy protection in Delaware after discovering a large shortfall in client funds. Documents dated 15 August list several Prime Trust entities in the application. The company now faces liabilities between $100 million and $500 million, contrasted with assets between $50 million and $100 million. Its main creditors claim around $105 million. Founded in 2016, the company was known for its blockchain-based solutions. The Prime Trust situation signals the challenges that even big names in the crypto space can face.
Exchange Daset goes into liquidation, customers seek to recover funds
Cryptocurrency exchange Dasset, located in Auckland, New Zealand, appears to have gone into liquidation, leaving many customers without access to their funds. The Herald reported that several clients are trying to recoup their investments. CEO Stephen Macaskill mentioned the lack of banking support since January. In a private meeting, the shareholders decided to appoint a voluntary liquidator. Meanwhile, the Dasset website remains active. David Ruscoe and Russell Moore of Grant Thornton New Zealand have been appointed as liquidators, focusing on the security of the company’s assets.
RocketSwap Labs announces measures after 471 ETH theft
Following an attack that led to the theft of $865,000 or 471 ETH, RocketSwap Labs came forward with its call to action. The team intends to launch a new contract and relinquish the minting rights, as well as requesting that the hackers return the stolen assets. RocketSwap is a DEX at Base with full decentralization goals. The incident took place on August 14, when the criminal transferred Base ETH to Ethereum and subsequently created and moved “LoveRCKT” tokens on Uniswap. Security companies PeckShield and CertiK confirmed the attack, attributing it to a loophole in the protocol server.
Sam Bankman-Fried faces new DOJ allegations
Sam Bankman-Fried, former leader of exchange FTX, faces new charges from the Department of Justice (DOJ) for embezzling client funds. It is alleged that he used over $100 million in funds siphoned off for political contributions ahead of the 2022 US election to influence crypto regulation. Despite FTX’s collapse in 2022, Bankman-Fried allegedly continued to use the embezzled money. He was recently sent back to prison on suspicion of witness tampering. His trial is scheduled for October.
$140M controversy between DeFiance Capital and Teneo will unfold in Singapore
A $140 million dispute between DeFiance Capital and Teneo, liquidators of Three Arrows Capital (3AC), will take place in Singapore. The discussion revolves around assets managed by DeFiance Capital, which, while independently managed, forms part of the corporate structure of 3AC. Liquidators insist that these assets must be incorporated into 3AC’s equity, but DeFiance argues that they must be separated. Judge Chua Lee Ming of Singapore ruled that the case will be heard there, citing the reasons that the cryptocurrencies in question are held in Singapore and other fund-related evidence. The case is also under discussion in the British Virgin Islands. The assets involved total around $141 million, including cryptocurrencies and NFTs.
AllianceBlock introduces Nexera, new DEX on the Arbitrum One network
AllianceBlock has launched Nexera, a decentralized exchange on Ethereum’s Arbitrum One network, integrating with Uniswap liquidity. Nexera stands out for its advanced order book protocol and ability to provide deeper liquidity for digital assets. In addition, it aims at regulatory compliance, thereby attracting institutional investors. It plans to introduce decentralized user verification processes while maintaining privacy with zero-knowledge proof technology.
Compound integrates with Ethereum Layer 2, a Coinbase initiative
Compound, a DeFi lending protocol, has been integrated into Ethereum Layer 2, an initiative by Coinbase (NASDAQ:COIN). This merger allows users to use Coinbase’s ether and cbETH to borrow USDbC. Collateral currently stands at $3.64 million, with loans of $2.25 million. Other protocols such as SushiSwap and Uniswap have also migrated to Base, attracting high transaction volume and over 100,000 daily users since opening on August 9th.
Blockchain Sei Network reaches $1.8 Billion valuation on its token launch
On the launch day of its token, trading blockchain Sei Network reached a valuation of $1.8 billion. Renowned exchanges such as Binance and Bybit introduced the SEI token, which saw remarkable appreciation. The SEI token supply is 10 billion, with 1.8 billion initially available. On the same date, Sei began the beta test of its network, which stood out for its transaction capacity. Jeff Feng, co-founder of Sei Labs, outlined the network’s future plans, while Sei also announced significant funding totaling millions over the past year.
Blockstream and STOKR collaborate to create Blockstream ASIC (BASIC) Note investment
Blockstream, a leader in Bitcoin infrastructure, collaborated with STOKR, a Luxembourg-based digital asset platform, creating the Blockstream ASIC (BASIC) Note investment. With the prices of mining machines, ASICs, varying according to the Bitcoin market, BASIC is looking to raise $5 million to buy ASICs and sell them as the market recovers, aiming for the next Bitcoin halving in 2024. After the success Blockstream Mining Note, the BASIC Note already generates interest. This will be released as a digital title on Liquid Network. Dr Adam Back of Blockstream and Arnab Naskar of STOKR highlight the potential of this investment. BASIC Note accessibility varies by jurisdiction.
Nvidia releases Neuralangelo code to turn videos into 3D models
Nvidia (NASDAQ:NVDA) has released code for Neuralangelo, a tool that transforms video clips into ultra-realistic 3D models. Available on GitHub, it is ideal for game, film, and metaverse development. The technology uses advanced techniques to create detailed models that are superior to previous methods, promising to revolutionize 3D modeling and bring the metaverse closer to reality. In the study, Neuralangelo proved its effectiveness by transforming RGB video captures into intricate 3D models, such as those of Nvidia’s central park and Johns Hopkins University. The video was captured by a commercial drone flying over the Nvidia park and was later converted into a detailed three-dimensional model.
Dubai offers discounted commercial licenses to AI and Web3 companies
Dubai now provides commercial licenses at a 90% discount to artificial intelligence and Web3 companies, aiming to become the main technology hub of the MENA region. The initiative comes from the Dubai AI and Web 3.0 Campus, with the Dubai International Financial Center issuing the licenses. This strategy seeks to attract global talent and investment. DIFC’s Innovation One building provides workspaces for companies, while the CEO of the DIFC Innovation Hub underscores the importance of collaboration and innovation. Interested companies must apply online, although there were technical issues initially.
Dinari raises $7.5M ahead of global launch of its platform, dShare
Dinari, focused on offering tokens backed by real assets, raised $7.5 million ahead of the global launch of its platform, dShare. Investors include SPEILLLP (from Susquehanna International Group), 500 Global, Balaji Srinivasan (former CTO of Coinbase) and investment funds such as Third Kind Venture Capital and Sancus Ventures. Hamilton Lane, with $824 billion managed, has partnered with Securitize on the Polygon blockchain to tokenize assets. Dinari, created in 2021, uses dShare to enable access to shares of large companies via blockchain, with tokens backed by 1-1, ensuring transparency and regulatory compliance.
Orange Pill app raises $250,000 in seed funding
Bitcoin (COIN:BTCUSD) social networking app Orange Pill has raised $250,000 in seed funding. Led by Lightning Ventures and backed by investors like NBA player Matthew Dellavedova, the round supports the app’s goal of connecting Bitcoin enthusiasts beyond the virtual world. Available worldwide for iOS and Android since November 2022, it is already present in 71 countries. CEO Matteo Pellegrini highlights the focus on strengthening the “Bitcoin shadow economy”.