Bitcoin 

US CFTC Brings Action Against $147 Million Bitcoin Investment Scheme

The United States Commodity Futures Trading Commission (CFTC) launched action against a reportedly fraudulent $147 million bitcoin (BTC) scheme, fintech news outlet FinanceFeeds reports June 18. On June 17, the regulator reportedly filed a complaint with the New York Southern District Court against now-defunct United Kingdom-based entity Control-Finance Ltd, which reportedly defrauded more than 1,000 investors to launder at least 22,858 bitcoin. The CFTC also brings actions against the entity’s head, Benjamin Reynolds, stating that Control-Finance and Reynolds “exploited public enthusiasm for Bitcoin” from May 1, 2017, to October 31,…

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Blockchain 

Germany Gains Blockchain Real Estate Fund From Investment Manager Peakside

European investment manager Peakside Capital Advisors has launched a real estate fund for the German market using blockchain technology, the company confirmed in a press release on June 12. The fund, which focuses on assets between €15 and €75 million ($17-$85 million), is a product of a partnership with German funds-as-a-service technology platform Brickblock. Bricklock operates ScalingFunds, an investment management platform that runs on blockchain. The startup tokenized its first property in March this year, as reported by Cointelegraph Deutsche. In today’s press release, Stefan Aumann, founding partner of Peakside,…

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Blockchain 

Corona, Budweiser Owner’s Investment Arm Backs Blockchain ID Startup

United States-based blockchain identity startup BanQu announced that it closed an extension of its series A funding round led by multinational drinks and brewing company Anheuser-Busch InBev’s investment arm. The development was announced in a post on June 6. Per the announcement, the undisclosed amount of funds have been raised by ZX Venture to allow BanQu to continue the development of its supply chain transparency and traceability, and continue its geographic expansion. Crunchbase estimates the annual revenue of the funding company — which owns the Budweiser, Corona, Leffe and Becks…

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Bitcoin 

Securities Regulator Issues Suspension to Crypto Investment Firm, Associated Crypto

Italy’s national securities regulator, La Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a notice suspending investment firm Tessline and its cryptocurrency liracoin. The news was reported by Cointelegraph Italy on June 4. In its notice, CONSOB stated that a series of entities and websites affiliated with both Tessline and liracoin are ordered to terminate their violation of Article 18 of Italy’s Consolidated Law of Finance. According to a translation from the European Corporate Governance Institute, Article 18 stipulates statutory requirements for the provision of investment services…

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Blockchain 

Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

A blockchain-based alternative investment provider that tokenizes commercial debt is being listed on the Bloomberg Terminal, according to a news release published on June 4. Cadence is believed to be the first digital asset to obtain a Financial Instrument Global Identifier (FIGI), enabling professionals who use the Bloomberg Terminal to research its offering and execute trades. The company connects investors with businesses that need to borrow money in order to plug temporary gaps in their cash flow. On its website, Cadence says the minimum investment amount is $500, giving consumers…

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Blockchain 

BUX and ABN AMRO Clearing Partner on Blockchain-Powered Stocks Investment Mobile App

Global securities services provider ABN AMRO Clearing has signed a contract to provide European mobile investment platform BUX with blockchain technology for a forthcoming commission-free stock trading mobile app. The news was revealed in a BUX news release on May 29. According to the news release, ABN AMRO Clearing processed 3.79 billion trades in 2018, and reportedly consistently ranks as a top three clearer for listed derivatives and cash securities, OTC products, warrants, commodities and FX across the majority of time zones.   BUX’s new app, dubbed STOCKS, is slated…

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Bitcoin 

US Congress Think Tank Claims Bitcoin Is Used Mostly as ‘Investment Vehicle’

Bitcoin (BTC) and cryptocurrencies are used as a speculative investment tool and not money, a report by United States think tank the Congressional Research Service (CRS) claimed on May 10. As part of an investigation into cash usage in the U.S., the report, dubbed “The Potential Decline of Cash Usage and Related Implications,” appears to forecast a reduction in paper money as contactless card payments increase. Researchers also analyzed other forms of payment, including cryptocurrency, be it public, private or issued by a central bank. Taking bitcoin as its prime…

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Ethereum 

Ryan Kavanaugh’s Media Firm Secures $100 Million Investment for Crypto Project

United States-based film producer Ryan Kavanaugh’s Proxima Media has unveiled a $100 million investment for a cryptocurrency-based film funding tool, entertainment industry news outlet TheWrap reported on May 23. Per the report, Proxima Media — which Kavanaugh founded and owns — announced plans for a new crypto-enabled financing tool for film, TV, music and other intellectual property-driven content dubbed Proxicoin. Proxima reportedly received the investment from garment production company Central Wealth Group and venture capital fund Step Ventures. Proxicoin reportedly plans to issue Ethereum-based security tokens that allow holders to…

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Bitcoin 

NYSE Arca Files Proposed Rule Change with SEC for Bitcoin-, T-Bills-Backed Investment Trust

NYSE Arca has filed a proposed rule change with the United States Securities and Exchange Commission (SEC) for an application to list shares in a bitcoin (BTC) investment trust that would be backed by the cryptocurrency and T-bills. The development was revealed in an SEC filing published on May 20. The Chicago-headquartered exchange — a subsidiary of the New York Stock Exchange Group — outlined that the proposed trust would invest solely in bitcoin and short-term U.S. Treasury securities with a maturity of less than one year, also known as…

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Bitcoin 

The Key to Institutional Investment Growth?

Registered custodial services, which are common in traditional investment classes, have been on the rise in the digital asset sphere, including for cryptocurrencies. Branding China Group (BC Group) has recently unveiled its plans for an insured custody service specifically for cryptocurrencies. A conglomerate with a diversified portfolio of blockchain-focused businesses in marketing communications and technology, believes its custody service removes one of the key barriers that have prevented professional traders and institutions from adding digital assets to their portfolios to date. Leading United States crypto exchange and wallet provider Coinbase…

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