Category: Capital Markets

Bakkt set to start trading on NYSE next week

Bakkt set to start trading on NYSE next week

Digital asset platform Bakkt Holdings has completed its merger with VPC Impact Acquisition Holdings, Intercontinental Exchange (ICE) announced on Friday. Bakkt will start trading on the New York Stock Exchange (NYSE) as a public company starting Oct. 18, ICE said in a press release. It will use the ticker “BKKT.”  ICE, best known for operating […]

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Jacobi Asset Management claims it will launch the world’s first ‘tier one’ bitcoin ETF

Jacobi Asset Management claims it will launch the world’s first ‘tier one’ bitcoin ETF

Jacobi Asset Management announced Friday that it has received approval to launch what it calls the world’s first “tier 1” bitcoin exchange-traded fund (ETF). The firm says the term reflects the top-tier partners supporting it. The new bitcoin ETF has authorization from the Guernsey Financial Services Commission (GFSC), Jacobi said in a press release. Jacobi […]

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VCs ‘pre-farming’ DeFI projects raises questions about ethics in crypto investing and airdrops

VCs ‘pre-farming’ DeFI projects raises questions about ethics in crypto investing and airdrops

Quick Take Last week a pseudonymous crypto user published evidence suggesting that a VC firm may have been trading based on insider knowledge of a DeFi protocol it backs. The episode highlights the chaotic world of crypto VC investing and raises fresh questions about the mechanics of airdrops. This feature story is available to subscribers […]

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Makor Group raises funds at $200 million valuation to expand crypto brokerage

Makor Group raises funds at $200 million valuation to expand crypto brokerage

Makor Group, a brokerage and investment banking firm with a growing crypto business, has closed a Series A fundraise. The round values Makor at $200 million, according to a press release. The press release did not specify how much money had been raised, but a person close to the firm said it had secured $17 […]

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Rise in privately funded crypto unicorns worries SEC commissioner

Rise in privately funded crypto unicorns worries SEC commissioner

The growth of private capital markets in recent decades is an issue that calls for greater transparency, at least according to one leader of the Securities and Exchange Commission (SEC).  In an October 12 speech, SEC Commissioner Allision Herren Lee called out the increase in private capital — and said the rise of crypto-related “unicorns” […]

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Hedge fund Millennium reminds employees to report crypto holdings

Hedge fund Millennium reminds employees to report crypto holdings

Millennium Management, a New York-based hedge fund managing over $57 billion in assets, recently instructed its staff to disclose any personal crypto trading to the firm’s compliance team. The move is the latest indication of crypto become both a topic — and investment — of interest among Wall Street’s largest titans. A source familiar with […]

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Crypto payment startup MoonPay valued at $3.4 billion after first funding round

Crypto payment startup MoonPay valued at $3.4 billion after first funding round

Crypto payment startup MoonPay is set to reach a $3.4 billion valuation after its first funding round, The Information reports.  Tiger Global Management and Coatue Management co-led the $400 million round. The firm’s valuation is unusually large for a three-year-old startup. MoonPay lets people use credit cards when buying crypto or other digital assets on […]

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Crypto M&A has reached an all-time high and it’s not expected to stop surging any time soon

Crypto M&A has reached an all-time high and it’s not expected to stop surging any time soon

Quick Take The number of crypto M&A deals in 2021 is already double what it was in 2020. The larger trend reflects the overall maturity of the crypto industry, particularly the number of large firms with the capacity to buy up smaller ones. This feature story is available to subscribers of The Block Daily. You […]

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Why the largest crypto trading firms are becoming venture capitalists as well

Why the largest crypto trading firms are becoming venture capitalists as well

Quick Take Major crypto trading firms are expanding beyond their core capacities and more broadly into the industry. GSR, Wintermute, and Jump Capital have been investing in early-stage crypto startups and projects.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block. Get free […]

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