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The first transactions within the pilot included fund subscriptions and redemption of the tokenized fund represented as a smart contract. Notably, UBS used its own UBS Tokenize platform to conduct the transactions. Swiss multinational investment bank and financial services company UBS Asset Management (SWX: UBSG) has launched the first pilot of a tokenized Variable Capital Company
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Justin Sun, HTX (former Huobi) advisory board member, introduced the SAFU fund after the platform had suffered a $8 million security breach. According to his tweet, the platform team introduced the SAFU fund in order to always be prepared for losses that may arise due to problems with the security of
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The crypto industry is expected to transition from a "cottage industry" with $50 billion of managed assets to a "formal, regulated asset management industry with $500-650 billion of assets over the next five years," analysts led by Gautam Chhugani wrote. Source
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CoinShares, a European crypto investment firm, has launched a new hedge fund aimed at qualified U.S. investors as part of the company’s strategy to expand its geographical coverage. In a press statement, the firm said its new hedge fund division called “CoinShares Hedge Fund Solution” will be offering a diverse range
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Bitcoin rose 0.77% from Sept. 15 to Sept. 22, to US$26,647 as of 8:30 p.m. Friday in Hong Kong. The world’s largest cryptocurrency by market capitalization has been trading below US$30,000 since Aug. 9, according to CoinMarketCap data. Ether, the world’s second-largest cryptocurrency, fell 1.48% over the week to US$1,598.On
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Major European cryptocurrency asset manager CoinShares is launching a hedge fund division in the United States despite the country’s tough crypto regulation climate.CoinShares officially announced the news on Sept. 22, stating that the firm will roll out its offerings for qualified U.S. investors for the first time ever.The new division,
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"The long-awaited return of interest rate-driven volatility is a great opportunity that we plan to capture with our novel fund products," Lewis Fellas, CoinShares' hedge fund head, said in the statement. "Each product that will be offered is designed to mitigate counterparty risk whilst providing investors with clearly defined asset
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Maker (MKR), the governance token of decentralized finance (DeFi) lender MakerDAO, is nearing its highest price since last May, buoyed by rising protocol profits and large investors accumulating the token. Original Source
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A former Deutsche Bank investment banker — who was charged earlier in 2023 in relation to a fraudulent cryptocurrency trading scheme — has pleaded guilty to investment fraud and could face up to 30 years in prison.According to a Sept. 19 statement from the United States Department of Justice (DOJ),
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Nomura, Japan’s largest investment bank, announced that its subsidiary Laser Digital Asset Management has introduced a Bitcoin Adoption Fund aimed at providing institutional investors with direct exposure to Bitcoin. Targeting institutional investors, this move is part of a larger plan by Nomura, which is positioning the fund as “the first in
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