Crypto News 

Coinbase, Kingdom Trust, Regal Assets Jointly Offer Crypto IRA and 401 Accounts

“Major American crypto exchange Coinbase, asset custodian Kingdom Trust and alternative assets investment firm Regal Assets have begun offering cryptocurrency-based individual retirement and 401(K) accounts in the United States” writes Ana Alexandre for cointelegraph.com. Bitcoin IRA has reportedly provided digital asset IRAs since 2016 and processed over $350 million in investments, onboarding 4,000 clients.An individual retirement account (IRA) is an investment account that enables an individual to save money for retirement in a tax-deferred way, while a 401(K) represents a qualified retirement savings plan offered by an employer.Last month, Los…

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Crypto News 

PORTAL Launches Debut Crypto Fund, Targets Asia-Pacific Investors

“Dubbed the Portal Digital Fund, the fund will operate as a fund of funds” writes Arnab Shome for financemagnates.com. Singapore-based PORTAL Asset Management on Thursday has launched a cryptocurrency fund, making a debut in the digital asset industry, The Business Times reported.The company is planning to create a diversified portfolio adding four to eight specialist global fund managers.It will be targeted to sophisticated investors which include high net worth individuals, family offices and boutique institutional investors in the Asia-Pacific region.Though new to the industry, the firm is aiming to manage…

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Crypto News Platforms 

Wyoming Brings Regulations for Crypto Custody Platforms

“The US state of Wyoming has introduced a new set of rules to regulate the digital asset custody platforms” writes Arnab Shome for financemagnates.com. Wyoming is one of the few states in the United States press to regulate the digital asset industry by introducing new legislation.These rules are applicable to banks offering digital asset custodial services.Any ambiguity under this subsection shall be resolved in favor of the customer,” the rules added. Source: financemagnates.com

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Crypto Futures News 

Bakkt Opens Its Bitcoin Custody Warehouse to “All Institutions”

“Now, its bitcoin arm Bakkt has opened the doors of its custody services to all the institutions of the world” writes unknown author for blockonomi.com. Bakkt also revealed in October that it was launching the “the first regulated options contract for bitcoin futures” on December 9th.Fledgling though it may be, Bakkt saw some celebration last week after the firm set a new all-time high for intraday trades of its monthly bitcoin futures product.Since launching back in September, the exchange has facilitated more than 12,000 bitcoin worth of trades involving its…

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Markets News 

Ben Carlson: Trends That Matter in Asset Management

“Many of these trends deal with how the asset management industry has evolved over time, the way markets change, and how people invest their money” writes Ben Carlson for awealthofcommonsense.com. In this piece for Fortune, I looked at some of the most important trends in asset management and how they are impacting the markets.The firm had a 40% share of the target-date fund market as of the end of 2018, with roughly $650 billion in assets.In their research report entitled How America Saves 2019, Vanguard shows how target-date funds have come…

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News 

Fintech Startup DEXTF Secured $460,000 in LuneX-Led Funding Round

“Decentralized Traded Funds (DEXTF) has closed its seed funding round after raising $460,000, The Business Times reported” writes Arnab Shome for financemagnates.com. We are excited to be a co-investor in DEXTF’s seed funding round, to help scale their platform globally.”. London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now The Singapore-based fintech startup is directly connecting investors and asset managers, eliminating the need for expensive intermediaries.The round was led by LuneX Ventures and SGInnovate, along with participants including London-based hedge fund CDAM and other undisclosed…

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Crypto News Regulators 

Int’l Bank Regulator Is Studying Crypto Lending Capital Requirements

“Global banking regulator the Basel Committee on Banking Supervision (BCBS) is working to establish how much capital lenders should hold to cover the risks generated by dealing with cryptocurrencies” writes Adrian Zmudzinski for cointelegraph.com. The Basel Committee also announced that it will look into the reliance of banks on unregulated third parties for services, such as cloud computing and data.The BCBS is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. As Cointelegraph reported at the end…

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Crypto News 

US SEC Report Notes Trading Suspensions, Actions Against Crypto Firms in 2019

“The United States Securities and Exchange Commission (SEC) suspended securities trading of 271 issuers this year, including some digital assets” writes Adrian Zmudzinski for cointelegraph.com. Per the report, the SEC took action against a number of digital asset issuers over fraud or violating the registration provisions of federal securities law in 2019.The report notes a Nevada company that falsely claimed to have partnered with an SEC-qualified custodian for its crypto transactions and to offer an SEC-regulated token offering as an example. Source: cointelegraph.com

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Crypto News 

WAX Requests Dismissal of ICO Fraud Charges Ahead of Hearing

“Video game virtual goods company OPSkins Group and Worldwide Asset eXchange (WAX) has filed a request for the California district court to drop charges brought against it by the Crypto Asset Fund because of the loose arguments by the plaintiff” writes Arnab Shome for financemagnates.com. In a letter sent to the court on Monday, the attorney of the defendants asked the judge for dismissal or a stay on the charges as the claims are “referable to arbitration.” London Summit 2019 Launches the Latest Era in FX and Fintech – Join…

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Crypto News 

Bitcoin commitment of traders report shows asset managers are still net long

“The latest comment of traders report shows asset managers are still net long 260 to 86 shorts” writes Fx Street for forexcrunch.com. The asset managers net change also improved as the change was in favour of the longs 97 to 55.So there seems to be a big divergence between asset managers and leveraged funds recently.Leveraged funds, however, are heavily short holding 2016 shorts vs 956 longs.The leverage funds change was again heavily short 302 vs 6 longs. Source: forexcrunch.com

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