Is it the Facebook effect or teen slang? “Likes” are slowly but surely wending their way into the crypto ecosystem. VanEck released a “Bitcoin ETF-like” fund recently. In partnership with other exchanges and crypto firms, Coinbase launched a token ratings system with several like-minded criteria. Consider the “investment-like language” criteria. Or, the “securities-like language”… Read More Can the Crypto Rating Council, Like, Explain Its Ratings System?
In the tech industry, it is common for startups to ask for forgiveness and not permission from regulators. The basic idea is to gain user traction or launch a product quickly before building a case for it with regulators. The latest batch of SEC settlements with crypto startups illustrates the effectiveness of this strategy. In… Read More What Do the Latest SEC Settlements Mean For Crypto Startups?
Approximately twenty months after it first listed a multitude of concerns as reasons for its refusal of a Bitcoin ETF, the SEC has come to the same moment of reckoning. The next couple of weeks are critical for Bitcoin ETFs as the agency takes a decision on applications filed by New York-based Wilshire Phoenix and… Read More A Time of Reckoning for Bitcoin ETFs
As the decision date for a Bitcoin ETF enters the home stretch, Bitwise Asset Management is pulling out all stops to convince the SEC that crypto markets are ripe for a fund. Over the course of two weeks recently, senior executives from the San Francisco-based firm made presentations to and educated senior SEC officials, including… Read More Bitwise Chases America’s First Bitcoin ETF
Even as they lambast the effect of cryptocurrencies on monetary systems, central banks around the world are toying with the idea of digital currencies on the side. For example, the Federal Reserve has been teasing the idea of a Fedcoin for years. Rwanda’s central bank has revealed plans for a digital currency. Mark Carney, governor… Read More All About Central Bank Digital Currencies
New York-based cryptocurrency exchange Gemini launched a custody solution aimed at institutional investors yesterday. Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini, says the launch is more of a re-launch of their previous custody solution and an extension of their product and feature set. In this edited interview, she discusses the solution and how it… Read More This is More of a Re-launch: A Conversation with Jeanine Hightower-Sellitto About Gemini’s Custody Solution
Can you value a company’s stock based on its employee count? In conventional valuation theory, such a metric might be heresy. But the idea is taking holding within the cryptoasset ecosystem. The haphazard and volatile price swings of cryptoassets has left most analysts and commentators scratching their heads to come up with suitable metrics to… Read More The Fallacies of Using Developer Activity to Value Cryptocurrencies
For an asset class that claims to empower retail investors, cryptocurrencies can be incredibly opaque. The complex and self-involved techno-babble of entrepreneurs and CEOs can easily overwhelm and confuse investors. The scrutiny of public markets provides clarity and a necessary corrective. That is why Canadian crypto mining company Hut 8’s second quarter results recently are… Read More Four Interesting Takeaways From Crypto Miner Hut 8’s Earnings
Even as they have gained traction as investment instruments, cryptocurrencies still have several problem areas in their ecosystem. The transparency of blockchain transactions is negated by their complexity and nascence of the underlying technology. For investment firms and financial services companies, new technologies can be problematic because they affect trust and compliance. Chicago-based accounting firm… Read More The Challenges of Auditing Crypto: Grant Thornton Edition