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PwC Report: Asian Institutional Investors Opt for Third-Party Custody Solutions for Digital Assets

A joint report by Aspen Digital and PwC titled “State of Digital Asset Custody – Understanding and implementing digital asset custody for institutional investors” reveals a rising demand for institutional-grade digital asset custody solutions among family offices, high-net-worth individuals (HNWIs), and external asset managers (EAMs) in Asia. The report highlights that digital assets, now a … Continue reading PwC Report: Asian Institutional Investors Opt for Third-Party Custody Solutions for Digital Assets

Signature Bank Team Joins Customers Bank, Part of $21B Customers Bancorp

Customers Bank, a subsidiary of Customers Bancorp (NYSE:CUBI), has announced the successful onboarding of nearly 30 team members formerly employed by Signature Bank, once known for its crypto-friendly stance. This move follows the closure of Signature Bank by its state chartering authority, as announced in a joint statement by the Treasury, Federal Reserve, and FDIC … Continue reading Signature Bank Team Joins Customers Bank, Part of $21B Customers Bancorp

What Is Web 4.0?

Web 4.0 (or Web4) is an innovative concept outlined by the European Commission, designed to compete with the rapidly emerging trend of Web 3.0, which is gaining significant momentum in countries or regions such as the USA, Mainland China, Hong Kong, and Singapore. The Commission’s vision for Web 4.0 aims to position the European Union at the forefront of … Continue reading What Is Web 4.0?

European Commission Unveils Strategy to Lead Web 4.0 and Virtual Worlds

A new strategy for Web 4.0 and virtual worlds has been unveiled by the European Commission in an effort to steer the next technological revolution and guarantee a safe, open, and welcoming online environment for individuals, organizations, and government agencies across the EU. Web 4.0, the next generation of the internet, is expected to integrate digital and … Continue reading European Commission Unveils Strategy to Lead Web 4.0 and Virtual Worlds

UK Treasury to Omit Derivatives, Unbacked Tokens from Sandbox

The United Kingdom’s Treasury Department has proposed that unbacked crypto assets and derivatives be excluded from its digital securities sandbox project. This recommendation was outlined in a consultation document released on July 11th. The document suggests that the regulatory sandboxes, formed under the country’s Financial Services and Markets Act, would allow the UK government to … Continue reading UK Treasury to Omit Derivatives, Unbacked Tokens from Sandbox

ChromaWay and COMUNITYmade to Reinvent Near Shore Fashion Supply Chains with Web3 Technology

STOCKHOLM – JULY 12, 2023 – Stockholm headquartered blockchain technology company ChromaWay announced today that it had signed a Memorandum of Understanding (MOU) to partner with COMUNITYmade to co-design and develop supply chain solutions that leverage decentralized Web3 technologies to strengthen product-provenance and transparency, empower designers, and bring high-quality fashion to market faster. ChromaWay, headquartered … Continue reading ChromaWay and COMUNITYmade to Reinvent Near Shore Fashion Supply Chains with Web3 Technology

Digitex CEO Adam Todd Ordered to Pay $16 Million in CFTC Case

A federal court in the United States has mandated that Adam Todd, the CEO of the digital asset exchange Digitex, pay almost $16 million in disgorgement and penalties. The Commodity Futures Trading Commission (CFTC) filed a complaint against Digitex and Todd for suspected price manipulation and non-registration, which led to this decision. The CFTC initially … Continue reading Digitex CEO Adam Todd Ordered to Pay $16 Million in CFTC Case

Crypto Hedge Funds Thrive Despite Market Volatility, PwC Report Reveals

The latest PwC 5th Annual Global Crypto Hedge Fund Report, released in July 2023, unveils a thriving crypto hedge fund industry, demonstrating resilience and growth despite the inherent market volatility. The report highlights a significant surge in the total assets under management (AUM) by crypto hedge funds. The median AUM skyrocketed from $15 million in … Continue reading Crypto Hedge Funds Thrive Despite Market Volatility, PwC Report Reveals

South Korea's FSC to Submit Two Crypto-Related Acts to National Assembly

According to Newsis on July 13, the People’s Power Party and the Financial Services Commission of South Korea are planning to submit amendments to the Electronic Securities Act and the Capital Market Act to the National Assembly within this month. The amendments aim to institutionalize token securities. Representative Yoon Chang-hyun of the People’s Power Party, … Continue reading South Korea's FSC to Submit Two Crypto-Related Acts to National Assembly

BlockFi's Collapse Tied to Ignored Risks with FTX and Alameda Research

A preliminary report titled “Why Did BlockFi Fail?” submitted to the United States Bankruptcy Court for the District of New Jersey on July 14, 2023, has shed light on the reasons behind the failure of BlockFi, a prominent crypto lending firm. The report was filed by the Official Committee of Unsecured Creditors and involves several … Continue reading BlockFi's Collapse Tied to Ignored Risks with FTX and Alameda Research

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