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Ant Group, a company backed by billionaire Jack Ma, is reportedly planning to restructure and cut ties to some operations that are not core parts of its Chinese financial business. The move prepares the company for a potential initial public offering (IPO) in Hong Kong. Citing anonymous sources, mainstream media outlet
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The Blockchain Council of the Philippines (BCP) — a nonprofit organization dedicated to improving the regulatory framework for blockchain technology — has partnered with the Department of Information and Communications Technology (DICT) to foster Web3 adoption in the Philippines. In an announcement sent to Cryptox, Donald Lim, the founding president of
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A confidential July 7 report from Teneo, the liquidator, that CoinDesk reviewed referred to more than $1 billion of “prospective claims” against DCG and its Genesis lending subsidiary consisting of “both preference claims and claims which have resulted from issues around the perfection of loan and security documentation.” It also
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The lawsuit is intended to recover Gemini's funds from DCG, a filing made to the New York County Supreme Court said. Gemini entered into a partnership with Genesis which allowed its customers to earn up to 7.4% in annual percentage yield. Gemini sent its customers' funds to Genesis, which in
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United States-based cryptocurrency exchange Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert, claiming “fraud against creditors”.In a July 7 filing in a New York court, Gemini alleged DCG and Silbert engaged in a scheme involving lending “huge amounts of cryptocurrency and
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Advocacy group UK Finance is urging the British government to encourage securities tokenization. The market is small now, but the future stakes are high, it said.In a report co-written with consulting firm Oliver Wyman, UK Finance said the advantages of tokenization, such as lower costs, lower risk and wider access,
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Fitting somewhere in the middle of the debate between central bank digital currencies (CBDCs) and private stablecoins, the Federal Reserve Bank of New York’s New York Innovation Center (NYIC), which has collaborated on the project since last year, concluded that “the network has the potential to deliver improvements in the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Chicago Mercantile Exchange (CME) Group has announced its intention to launch Ether/Bitcoin ratio futures on July 31, pending regulatory approval. CME Group revealed its plans for this new product on June 29, aiming to provide traders
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The settlement of the ETH/BTC ratio futures will be linked to the value of CME Group Ether futures final settlement price, divided by the corresponding CME Group Bitcoin futures final settlement price. On Thursday, June 29, the world’s leading derivatives platform CME Group announced plans to launch the ether/bitcoin (ETH/BTC) ratio
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"Historically, ether and bitcoin have been highly correlated; however, as the two assets have grown over time, market dynamics may affect the performance of one more than the other, creating relative value trading opportunities," Giovanni Vicioso, CME Group global head of cryptocurrency products said in a statement. “With the addition
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