Bitwise reaches $ 100 million, SBI to launch XRP, Bitcoin and Ether Fund + more news

October 28, 2020 Coin Payment

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Get your daily summary of cryptoasset and blockchain related news, investigating the stories flying under the crypto news radar today.

Crypto Adoption News

Resource management bit by bit, a provider of cryptocurrency index funds for professional investors, said it recently passed $ 100 million in assets under management. Most of the demand has been for its Bitwise 10 Crypto Index Fund, which tracks the 10 largest cryptocurrencies, they added.
Japanese financial giant SBI announced that his SBI VC Trade The cryptocurrency exchange branch will launch cryptocurrency lending services in November, with crypto fund management offers to follow in 2021. SBI said the new offering next year would be “Japan’s first cryptocurrency fund”. The presentation materials seem to indicate that 50% of the fund would be made up of XRP tokens (SBI is one of the Ripplethe major partners of). The remaining amount appears to be split 60:40 between bitcoin (BTC) and ethereum (ETH).
Regulated Financial Institution for Digital Assets Nexo has announced a double interest increase on cryptocurrencies BTC, ETH, XRP, bitcoin cash (BCH), litecoin (LTC), EOS, chainlink (LINK), stellar (XLM), tron ( TRX) and pax gold (PAXG), which offers rates up to 8% APY (Annual Percentage Return) through its Earn on Crypto product. According to the press release sent by email, the increase includes a 1% increase in standard interest rates on these assets, combined with the introduction of Earn in NEXO, through which customers can earn an additional APY of the 2% on fiat and stablecoin.

Societe Generale – Forge, the digital capital markets platform of the French multinational investment bank and financial services firm Societe Generale Group, has chosen one of the leading blockchain companies ConsenSys provide technology and services as part of its central bank’s digital currency (CBDC) pilot activities. ConsenSys will deliver technology and expertise to the platform, they said, focusing on CBDC issuance and management, delivery versus payment and cross-ledger interoperability.

Major venture capital firm based in the United States, Andreessen Horowitz, announced their new operating partner in the crypto team, Anthony Albanese. He will join the firm from New York Stock Exchange, where is the regulatory officer.
Crypto.com (CRO) has hired Filomena Ruffa as general manager of Latin America, where she will be responsible for leading all operations and leading strategic business relations in the region. Previously, he served as the vice president of innovation and strategic partnerships for Visa for Latin America.

HSBC China has completed its first blockchain-based interbank forfeiting (financing) transaction with Communications bank, China’s fifth largest bank, the Securities Times reported. The transaction is the first to be completed by an overseas-operated bank on the China Trade Finance Interbank Transaction Blockchain platform. The platform was born from an idea of China Banking Association and other bank signatories include state ownership Chinese Industrial and Commercial Bank. The transaction used a digitized letter of credit issued by the bank and verified by blockchain.
After consulting with market participants, the Australian stock operator ASX Ltd ASX.AX has postponed the launch date of its blockchain-based clearing system to April 2023, according to Reuters. The launch had already been pushed once amidst the March market turmoil from 2021 to April 2022. “The industry … required substantially more post-trade processing capacity than expected prior to COVID-19.” , the company said.

The team behind the decentralized finance (DeFi) project Harvest finance, which recently suffered a flash lending attack, said in a post mortem report that the lost value is approximately $ 33.8 million, which corresponded to approximately 3.2% of the total value locked in the protocol at the time before. of the attack. The team, asking the attacker to return the funds, added that they take responsibility for the engineering mistake that allowed the attack, that they are working to ensure that such incidents are mitigated in the future and that they formulate a plan for repair for affected users is the top priority for next week.

Major US Crypto Loan Startup BlockFi presented a new 13G disclosure with the US Securities and Exchange Commission, following the acquisition of a stake in Bitcoin Trust in grayscale (GBTC), as the startup has seen its stake in GBTC reach a level that meets disclosure thresholds, they said in a press release. This specific form is known as the beneficial ownership report and is required whenever a person or company acquires more than 5% of any share class in a company.
medical enterprises, the wholly owned blockchain subsidiary of Overstock.com, Inc., announced a share purchase of $ 8 million in Bollard, his keiretsu company based in Barbados. The additional equity will allow Bitt to pursue market opportunities that accelerate the adoption of digital currencies in developing countries, they said, adding that this transaction gives Medici Ventures a controlling stake in Bitt.

Gemini he said they now support the euro for deposits and trading on the platform. Additionally, they launched ActiveTrader ™ with order books for the following trading pairs: BTC / EUR, ETH / EUR, BTC / GBP and ETH / GBP.

Seoul prosecutors said South Korean-Chinese crypto scammers “fooled 1,200 victims” in a multilevel marketing sting that amassed a staggering $ 15.6 million. According to the Yonhap news agency, prosecutors said a Chinese shell company was at the center of the operation, although most of its minds were based in South Korea. South Korean agents said the Chinese company was developing a new cryptoasset and that investing in the token at an early stage would reap huge financial benefits. At least one of the perpetrators is believed to be on the loose after arrest warrants were issued earlier this month.