BNY Mellon Bullish on Digital Assets, Calls for Regulation

• BNY Mellon CEO Robin Vince believes the digital assets sector is the future of finance.
• The company is investing resources to provide blockchain-based services and products to clients.
• Vince has called for increased regulation of the industry.

BNY Mellon, America’s oldest custodial bank, is taking a bullish stance on digital assets and positioning itself for the future of finance. CEO Robin Vince, who has been at the helm of the bank since January 2021, sees the digital assets sector as the future of finance, and his company is open to exploring the potential of Bitcoin (BTC) and other cryptocurrencies.

In October 2022, BNY Mellon launched its digital assets platform to bridge digital and traditional asset custody. The platform provides clients with a secure and compliant way to access the digital assets space. The platform has become a driving force in the race for adoption, and the bank has invested resources to provide blockchain-based services and products to clients.

Despite the significant push for crypto adoption, Vince believes that regulation of the industry should also take utmost priority. In December 2022, he published an opinion piece in the Financial Times calling for increased regulation of the crypto industry. He argued that regulation is needed to ensure the industry remains safe and secure. He also emphasized the importance of digital asset custody, stating that it is a key factor in enabling digital asset mainstream adoption.

Vince sees digital assets as the future, and he believes that investing in these assets is a long-term play. “We’re investing for a future that probably will come to be, but it may not. But if it does come to be, we have to be there…We do think it’s important for us to participate in the broader digital asset space,” he said.

BNY Mellon’s bullish stance on digital assets is a testament to the bank’s belief in the potential of the sector. By investing in the digital asset space and calling for increased regulation, the bank is positioning itself to be at the forefront of the industry’s growth. With its commitment to providing secure and compliant services and products, BNY Mellon is setting itself up to be a leader in the digital asset space.

Creditors Reject Restructuring Plan, Opt for Hodlnaut Liquidation

• Creditors of Singaporean crypto lender Hodlnaut have rejected a restructuring plan and instead favor liquidation.
• The decision came after court-appointed interim judicial managers released a report which highlighted the directors’ “downplaying” of the company’s exposure to Terra/Luna.
• Algorand Foundation, one of the major creditors, has asked for the liquidation process to be expedited to maximize the remaining assets available for distribution.

Crypto lending firm Hodlnaut has been facing tough times since its withdrawal freeze in August 2022. The company later filed with the Singaporean High Court to come under judicial management, and shortly after, laid off 80% of its workforce. Recently, creditors involved with the Singaporean crypto lender have stated that liquidation will serve them better than a restructuring plan.

According to Bloomberg on Friday (Jan.13, 2023), an earlier court filing by Hodlnaut’s court-appointed interim judicial managers on Jan.11, revealed that the firm’s creditors rejected a restructuring plan, and instead favored liquidation of the crypto lender’s assets. The proposed restructuring plan would have enabled the directors in charge during Hodlnaut’s collapse to continue overseeing the company. However, the creditors have refused an application to oust the interim judicial managers.

One of the company’s major creditors, Algorand Foundation, said in the filing that the liquidation process should be expedited „to maximize the company’s remaining assets available for distribution“. In September 2022, Algorand Foundation, a non-profit organization that supports the Algorand blockchain, revealed its exposure to Hodlnaut. The body has USDC worth $35 million trapped in Hodlnaut following the crypto lender’s withdrawal freeze in August 2022.

The court-appointed interim judicial managers released a report stating that Hodlnaut’s directors „had downplayed the extent of the group’s exposure to Terra/Luna both during the period leading up to and following the Terra/Luna collapse in May 2022“. The report revealed that the crypto lender’s exposure to Terra/Luna was greater than previously reported and had put the company in a precarious financial position.

Overall, the creditors of Hodlnaut have decided that liquidation is the best option for them and have requested the judicial managers to expedite the liquidation process. This is evidently to maximize the remaining assets available for distribution. The decision to liquidate the assets of the company has come after the release of a report which highlighted the directors’ “downplaying” of the company’s exposure to Terra/Luna. While the future of the company remains uncertain, it is clear that creditors are hopeful of a favorable liquidation process.

Bitfarms Reduces Debt with Loan Restructuring and Financial Flexibility

• Bitfarms Ltd is reducing the debt of one of its wholly-owned subsidiaries by restructuring the terms of its equipment loan facility.
• BlockFi Lending LLC and Bitfarms‘ Backbone Mining Solutions, Inc. agreed to finance $32 million worth of equipment.
• The assets used as collateral for the loan now have a market value of around $5 million.

Bitfarms Ltd, a global organization that mines bitcoin, is taking steps to reduce the debt of one of its wholly-owned corporate subsidiaries. In order to do so, the company is amending its financing facility in Washington state to get terms that more closely align with the current market conditions and its own company plan. In February of 2022, BlockFi Lending LLC (doing business as „BlockFi“) and Bitfarms‘ Backbone Mining Solutions, Inc. (doing business as „BMS“) agreed to finance $32 million worth of equipment. BMS is in charge of the crypto mining facility in the state of Washington, which has a capacity of 20 megawatts and is owned by Bitfarms. The loan is secured by some of BMS’s assets, including its bitcoin miners and some of the bitcoin that those miners have produced, and the only entity that may take legal action against BMS to collect on the debt is BMS itself.

Although the entire amount of interest and principal that is still owed on the loan is close to $20 million, the assets used as collateral for the loan now have a market value of around $5 million. This discrepancy between the loan amount and the collateral value has prompted the company to restructure the loan terms in order to better account for the current market conditions. Jeff Lucas, Chief Financial Officer of Bitfarms, claims that the company has made significant efforts in 2022 to increase its financial flexibility, reduce its debts, and reduce the amount of money it needs to spend on capital expenditures.

By restructuring the loan terms with BlockFi and taking other steps to reduce its debt, Bitfarms hopes to better manage its financial resources and ensure a more successful future for the company. The company is currently in negotiations with BlockFi in order to come to an agreement that will benefit both parties, while still allowing Bitfarms to meet its financial obligations and maintain its current operations.

Animoca Brands Invests $2M in Binance to Boost Blockchain & Metaverse Businesses

1. Animoca Brands deposited 2 million $SAND with Binance earlier today.
2. Animoca Brands is looking for funds to assist blockchain and metaverse businesses.
3. Binance provides the liquidity for the whale to sell out.

Animoca Brands, a company focused on blockchain and metaverse projects, recently deposited 2 million $SAND with Binance. This deposit follows two other deposits made earlier in the week and is a testament to the company’s commitment to the development of blockchain and metaverse businesses.

Animoca Brands is currently in talks with potential investors, seeking funds to assist blockchain and metaverse businesses. Yat Siu, co-founder, and CEO of Animoca brands stated that Animoca Capital was in talks with potential investors and intended to use the cash to assist blockchain and metaverse businesses. This deposit of $SAND with Binance is part of that effort.

Binance is one of the most popular cryptocurrency exchanges, providing liquidity for the whale to sell out. Binance provides a secure and user-friendly platform for traders and investors. The exchange also offers a variety of services, including over-the-counter trading and margin trading, as well as an array of payment options, including credit cards, bank transfers, and other digital currencies.

Animoca Brands is confident that Binance will provide the liquidity required to help blockchain and metaverse businesses succeed. With the cryptocurrency market recovering, Animoca Brands is optimistic about the future of blockchain and metaverse businesses and the potential for growth.

Tokenized Fund Launched by Ondo Finance to Invest Stablecoins in US Treasuries and Bonds

• Ondo Finance has unveiled a tokenized fund that will allow stablecoin holders to invest in US Treasuries and bonds.
• The fund will offer three share classes, including US Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High Yield Corporate Bond Fund (OHYG).
• Ondo Finance will charge a 0.15% per annum management fee for Onto Capital Management to facilitate the purchase and sale of these ETFs.

Ondo Finance, a decentralized investment platform, has recently announced the launch of a tokenized fund that will make traditional capital markets more accessible to investors. With more than $100 billion of non-yield-bearing stablecoins in the market, Ondo Finance is providing a new way for stablecoin holders to invest in US Treasuries and bonds.

The tokenized fund will offer three share classes that provide institutional-grade yielding offerings. The US Government Bond Fund (OUSG) will use the Blackrock US Treasuries ETF (SHV) to invest exclusively in short-term US treasuries. The Short-Term Investment Grade Bond Fund (OSTB) will utilize the PIMCO Enhanced Short Maturity Active ETF (MINT) to invest solely in short-term investment grade and corporate bonds. Lastly, the High Yield Corporate Bond Fund (OHYG) will use the Blackrock iBoxx $ High Yield Corporate Bond ETF (HYG) to invest in high-yield corporate bonds.

Ondo Finance will charge a 0.15% per annum management fee to Onto Capital Management, who will be responsible for facilitating the purchase and sale of these ETFs. With this new tokenized fund, investors will have access to a range of low-risk, highly liquid products that offer a variety of yields. This will allow stablecoin holders to diversify their investments, and access the traditional capital markets more easily.

The company has also stated that their goal is to make it easier for investors to convert between stablecoins and traditional assets. With the launch of this tokenized fund, Ondo Finance is taking a big step towards achieving this goal and providing investors with more options to invest their stablecoins.

GMX Reaches $2.7M in Fees, Holders Receive $822K Reward

• GMX, a growing cryptocurrency project, has surpassed $2.7 million in fees.
• GMX holders will receive 30% of the fees as revenue, approximately $822,000.
• On January 6th, Arbitrum noted on Twitter that GMX had surpassed $100 million in total fees.

The cryptocurrency project GMX has achieved a major milestone, surpassing $2.7 million in fees. This is considered its record high since its introduction in September 2021 and second only to Ethereum this year. The total fees generated from the spot and perpetual DEXs created on Avalanche and Arbitrum reached an impressive $2.74 million on January 9th, 2023. This has resulted in an average fee of $546 million over a 7-day period.

GMX holders will be rewarded for the success of the project with a 30% share of the fees, which amounts to approximately $822,000. This is a significant reward for an investment in the project and adds to the credibility of the project.

The success of GMX was further recognized by Arbitrum, who noted on Twitter that the organization had surpassed $100 million in total fees on January 6th. This is an impressive feat, considering that the spot and perpetual exchange has only been in existence for a few months.

The success of GMX can be attributed to its strong performance in the market. According to coinstats, the 24hr price of GMX is $44.41 with a $13,895,628 trading volume in both centralized and decentralized exchanges. This has led to an increase in the coin’s market capitalization to $372.5 million and a circulating supply of 8.4 million (GMX coins). Additionally, its fully diluted market cap has increased by 1.35, bringing it to $390 million.

The success of GMX is further demonstrated by its website, which indicates a total volume of $76 billion, with a deviation of +47.7 million. Additionally, the DEX has seen an increase of 123 users from 182,217 unique ones and an open interest of $119 million.

This impressive performance of GMX has been a great success for the project and its holders, who will be rewarded for their investment. The project has seen significant growth in its trading volume and market capitalization, and its holders will continue to benefit from the success of the project in the future.

Bitcoin Profit Erfahrungen – Daniel Aranda von Xpring trennt sich von Ripple, um sich auf neue Möglichkeiten zu konzentrieren

Daniel Aranda, der für den Aufbau von Ripples Investitions- und Entwicklungsarm Xpring verantwortlich war, hat angekündigt, sich von der Blockchain-Zahlungsfirma mit Hauptsitz in San Francisco zu trennen .

In seinem Abschieds-Twitter-Thread schreibt Aranda, dass er „etwas Neues entdecken“ wird, nachdem er seinen beeindruckenden siebenjährigen Lauf bei Ripple beendet hat.

Bitcoin Profit Erfahrungen – Eine siebenjährige Reise

Aranda kam 2013 als Director of Business Development zu Ripple, als Ripple nur „sechs Schreibtische und eine tote Anlage“ hatte.

Von 2016 bis 2018 war er als Ripple-Geschäftsführer für Europa tätig und konzentrierte sich auf die Expansion des Bitcoin Profit Unternehmens in der Region , bevor er schließlich Xpring gründete.

Seine „bittersüße“ Abreise fiel mit der Einführung der PayID-Zahlungslösung durch Ripple zusammen , die das Senden von Geld so einfach wie das Senden von Informationen machen soll.

Aranda behauptet, die Zusammenarbeit mit dem Bitcoin Profit Unternehmen sei „das größte Privileg“ seiner Karriere gewesen.

Ripples Partner Azimo arbeitet mit der Major Bank zusammen, um schnelle globale Zahlungen zu erhalten

Andere bemerkenswerte Abfahrten

Aranda ist der jüngste hochkarätige Ripple-Mitarbeiter, der die Blockchain in den letzten zwei Jahren verlassen hat.

Wie U.Today berichtete , gab der frühere Geschäftsführer der CME-Gruppe, Miguel Vias, der XRP-Verkäufe im Wert von mehr als 1 Mrd. USD beaufsichtigte, im April stillschweigend auf.

Die Litanei der bemerkenswerten Abgänge umfasst auch die derzeitige CEO von Binance.US, Catherine Coley, Corey Johnson und andere.

Bitcoin Era Erfahrungen – CoinGecko fügt die Cybersecurity-Bewertungen von Crypto Exchanges zum Trust Score hinzu

Die Krypto-Datenplattform CoinGecko hat sich mit dem Cybersicherheitsunternehmen Hacken zusammengetan, um die Sicherheit des Krypto-Austauschs in seine Trust Score-Metrik aufzunehmen.

Kryptowährung Marktdaten Aggregator CoinGecko hat sein Vertrauen Score Algorithmus aktualisiert , um die Internetsicherheit Bitcoin Era Standards der mehr als 400 zu betrachten Kryptowährung Austausch auf seiner Plattform aufgelistet.

Bitcoin Era Erfahrungen – Ab dem 1. Juli werden 20% des CoinGecko Trust Score anhand einer Cybersicherheitsbewertung des Sicherheitstechnologieunternehmens Hacken ermittelt

Laut einer Ankündigung wird das Algorithmus-Update „einen ganzheitlicheren Überblick über den Austausch von Kryptowährungen“ bieten.

Im Gespräch mit Cointelegraph erklärte der Mitbegründer von CoinGecko und COO Bobby Ong, dass das Unternehmen „seit der Einführung des Trust Score im Mai 2019 eng mit einem Cybersecurity-Unternehmen zusammenarbeiten wollte, um den Cybersecurity-Score der Bitcoin Era Börsen zu berücksichtigen“, CoinGecko jedoch „nicht erfolgreich war einen geeigneten Partner zu finden, der uns bei diesem Unterfangen bis jetzt hilft. “

CoinGecko punktet den Austausch über Sicherheit

Hackens Cybersicherheits-Score versucht zu messen, „die Fähigkeit eines Austauschs, eine sichere Betriebsumgebung sowohl für die Plattform als auch für ihre Benutzer aufrechtzuerhalten“.

Die Punktzahl bewertet den Austausch von eins bis zehn basierend auf der Analyse der „Server- [und] Benutzersicherheit, der Fehlermenge an Crowdsourcing-Präventionsmaßnahmen sowie historischer Hack-Fälle“.

Ong gab an, dass die Integration auf mehrmonatige Diskussionen zwischen den beiden Unternehmen folgte. Die Partnerschaft sah auch eine Zusammenarbeit vor, um „die Krypto-Community über die Verbesserung der persönlichen Cybersicherheitspraktiken aufzuklären“.

Dyma Budorin, CEO von Hacken, beschrieb den Austausch von Kryptowährungen als eine der „komplexesten und finanziellsten Plattformen“, die zu den „Hauptzielen der wachsenden Black-Hat-Hacker-Community“ geworden sind.

CoinGecko zur Erweiterung der Derivatmetriken

Ong bemerkte, dass CoinGecko plant, seinen Trust Score bis 2020 weiterzuentwickeln, und erklärte: „Es gibt mehrere andere Metriken, die wir für zukünftige Aktualisierungen des Trust Score-Algorithmus untersuchen, um ihn robuster, ganzheitlicher und weniger manipulationsanfällig zu machen, um eine bessere Reflexion zu erzielen der allgemeinen Gesundheit des Austauschs. “

CoinGecko plant außerdem, in diesem Jahr neue Messdaten für den Markt für Krypto-Derivate einzuführen .

„Der Kryptomarkt bewegt sich sehr schnell und wir sind ständig vor Ort, um die Trends auf dem Markt zu beobachten“, sagte Ong.