Tag: Capital Markets

Bakkt’s SPAC shows how frothy the crypto markets have become

Bakkt’s SPAC shows how frothy the crypto markets have become

Quick Take Some market insiders think Bakkt’s ambitious SPAC reflects the frothiness of both the crypto and SPAC markets. It could lead to a flurry of other SPACs across the crypto industry. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Continue Reading

‘We are watching the market:’ Gemini considering public markets debut

‘We are watching the market:’ Gemini considering public markets debut

Tyler and Cameron Winkelvoss are exploring a stock market debut for crypto exchange Gemini, according to a report by Bloomberg News.  In an interview with Bloomberg, the twins–who founded the exchange in 2013—said that going public is one option they are currently exploring for the firm.  “We are watching the market and we are also […]

Continue Reading

CrossTower hires Citadel and Deutsche Bank veteran to lead new capital markets unit

CrossTower hires Citadel and Deutsche Bank veteran to lead new capital markets unit

Digital assets trading business and exchange operator CrossTower is launching a new capital markets division focused on services for institutional investors. Those services will include digital asset lending and trade financing, structured products and fund offerings, and best execution. Greg Bunn, a former executive at Citadel and before that at Deutsche Bank, has joined CrossTower […]

Continue Reading

Intercontinental Exchange crypto venture Bakkt nears SPAC deal: report

Intercontinental Exchange crypto venture Bakkt nears SPAC deal: report

Digital asset firm Bakkt is looking to tap into the public markets through a SPAC deal, according to a Bloomberg report.  Bakkt, a venture by Intercontinental Exchange, is reportedly in advanced stage talks to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, according to Bloomberg’s sources. The transaction, which could be […]

Continue Reading

Digital Currency Group is planning to launch a new wealth management subsidiary

Digital Currency Group is planning to launch a new wealth management subsidiary

Quick Take DCG has a new wealth management business in the works, according to two sources familiar with the plan. It would join the firm’s asset management business Grayscale as a part of DCG’s family of companies.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature […]

Continue Reading

Two of the largest trading desks in crypto have alerted clients that they will stop making markets in XRP

Two of the largest trading desks in crypto have alerted clients that they will stop making markets in XRP

Jump Trading, the secretive Chicago-based high-frequency trader, and Mike Novogratz’s Galaxy Digital have stopped making markets in XRP after the Securities and Exchange Commission filed a lawsuit against Ripple, according to sources. Jump Trading is one of the most active firms in the crypto market and is known for providing liquidity to exchanges. The firm […]

Continue Reading

Switzerland’s central bank will expand digital currency trials to include commercial banks

Switzerland’s central bank will expand digital currency trials to include commercial banks

Quick Take The Swiss National Bank and the operator of the Swiss stock exchange are looking to test a wholesale CBDC with commercial banks. Swiss central banker Thomas Moser said SDX will initially go live with a stablecoin backed by its own reserves. This feature story is available to subscribers of The Block Daily. You […]

Continue Reading

2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part III

2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part III

Quick Take The following is the final excerpt from the ‘2020 Macro Overview’ section of the Block Research’s forthcoming year-end report. We examine both digital and traditional asset market performance, the labor market, real gross domestic product, monetary policy, and more economic data throughout the last three quarters of 2020.  This research piece is available […]

Continue Reading