TIME Now Accepts Crypto as Payment for Subscriptions in the US and Canada

TIME, a global media brand with an audience of 100 million around the world, has announced that it has started accepting cryptocurrency as a form of payment for digital subscriptions.

As was reported previously, the company would be HODLing any BTC that they receive, much like electric car maker Tesla when it announced that they are accepting only BTC as payment soon after investing $1.5 billion in it.

This announcement follows TIME’s recent expansion into the cryptocurrency space after it offered an exclusive series of three TIME covers as NFTs at auction.

“We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time.”

Bharat Krish TIME Chief Technology Officer

Currently, this pay with the crypto feature is only available in the U.S. and Canada. But the company plans to roll up the global access in the next several months.

Those subscribers who pay with crypto will receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscriber-only events and offerings.

TIME will accept crypto through its partnership with the cryptocurrency exchange Crypto.com that will also offer Pay Rewards of up to 10% back for subscribers who pay with CRO, the native coin of the exchange.

“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com.”

Keith Grossman TIME President

Last month, TIME also opened the position for CFO who has “Comfort with Bitcoin and cryptocurrencies.”

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Author: AnTy

Nasdaq to Launch Coinbase’s COIN Options Trading Starting Today

Nasdaq to Launch Coinbase’s COIN Options Trading Starting Today

Options on Coinbase Global Inc would start trading on Nasdaq options exchanges starting today.

Less than a week after the largest cryptocurrency exchange in the US went public, the equity options on the stock will be launched. This would offer investors yet another way to bet on Coinbase.

On Wednesday, Coinbase made the high-profile debut that briefly valued it at over $100 billion. On the day, the COIN shares were worth as much as $430 at one point but are currently down 22.5% as it trades around $319.35.

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During the first day of trading, as we reported, Coinbase CEO Brian Armstrong sold about $292 million in shares in total, which is less than 2% of his entire holdings. Armstrong sold these shares in three batches of 749,999 each at prices ranging from $381 to $410.40 per share.

COIN has been very popular among the general public. It was actually the most bought across the retail clients of UBS for three consecutive days, as per John Street Capital. With a total 3-day inflow of $410 million, it was the largest 3-day period of inflows by a company only after Jack Ma’s Alibaba (BABA) initial public offering (IPO).

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Author: AnTy

CI Global Asset Management Launches Bitcoin Mutual Fund, Also Files for Ether ETF & Mutual Fund

CI Global Asset Management Launches Bitcoin Mutual Fund, Also Files for Ether ETF & Mutual Fund

CI Global Asset Management has launched North America’s first mutual fund, CI Bitcoin Fund, to provide dedicated exposure to the leading cryptocurrency.

The Fund provides access to the Bitcoin market at an “industry-low” management fee of 0.40%, which has an initial minimum investment limit of just $500. Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., the parent company of CI GAM said,

“As investor interest in digital assets continues to grow, it was a natural next step for CI to extend our bitcoin investment capabilities to a mutual fund platform, in addition to the CI Galaxy Bitcoin ETF.”

The firm’s CI Galaxy Bitcoin ETF is already trading on the Toronto Stock Exchange under the ticker BTCX. They are also working on merging their other product, a closed-end investment fund, CI Galaxy Fund (BTCG), launched in Dec. 2020 with BTCX.

The Bitcoin Fund is available to Canadian retail investors in Series A, F, and P units, with Series A carrying a management fee of 0.90% and Series F, a 0.40% the same as that of BTCX.

Mike Novogratz’s Galaxy Digital provides the segregated cold storage system for the secure storage of bitcoin holdings.

Besides Bitcoin, the firm is also working on launching Ethereum products and has obtained receipts for the preliminary prospectuses of CI Galaxy Ethereum ETF (the “Ether ETF”) and CI Ether Fund, a mutual fund. The Ether ETF will be investing directly in Ether, while CI Ether Fund will invest in the Ether ETF units.

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Author: AnTy

Second Bitcoin ETF Goes Live in Canada as US Firms Await SEC Approval

Canada has approved an exchange-traded fund from Evolve Funds Global Group Inc. The country is blazing the trail, while American firms hope 2021 finally becomes the year of the Bitcoin ETFs.

Canada’s crypto space continues to grow significantly as the country marks yet another milestone in adoption.

This week, Evolve Funds Global Group Inc., a financial services firm in the county, secured approval for a Bitcoin exchange-traded fund (ETF)

Evolve Joins the ETF Club

Official documents have shown that the Ontario Securities Commission (OSC), Canada’s financial regulator, has approved Evolve’s launch of its ETFs, providing additional exposure to investors looking to get into the crypto market.

A receipt published yesterday also showed that the company had partnered with Cidel Trust Company, a subsidiary of Cidel Bank Canada, to provide custody, while the Gemini Foundation will be a sub-custodian.

Evolve only filed the prospectus for its ETF earlier this month. Per the filing, the ETF will have two ticker symbols – EBIT for Canadian-denominated units, and EBIT.U for American-denominated units. Both variants will provide exposure to daily price movements of Bitcoin in the respective country’s fiat currency.

The fund will track price data using the Bitcoin Reference Rate from CF Benchmark, which aggregates data from several BTC/USD markets into a single-day benchmark index.

The fund’s prospectus explained that it hopes to provide holders to price movement while reducing tracking error by using specific creation and redemption processes.

To achieve this goal, the fund will invest in long-term BTC holdings purchases through several platforms – including Gemini NuSTAR LLC. Evolve has also gotten conditional approval to list on the Toronto Stock Exchange (TSX).

The fund is available in all of Canada’s provinces and three territories.

Evolve’s fund is only the second ETF to be approved by the OSC this month. Last week, the agency greenlit the Purpose Bitcoin ETF, an investment vehicle from Toronto-based investment firm Purpose Investments. The fund will offer units denominated in USD and CAD, with a 0.75 percent management fee. Like the Evolve fund, it also plans to list units on the TSX.

“The ETF will be the first in the world to invest directly in physically settled Bitcoin, not derivatives, allowing investors easy and efficient access to the emerging asset class of cryptocurrency,” Purpose Investments said in its announcement.

Uncle Sam Lags Behind

Over in the United States, there is some hope that the new administration – and, by extension, new head at the Securities and Exchange Commission (SEC) – will be more welcoming of a Bitcoin ETF.

This year, crypto investment firm Bitwise Asset Management filed for an ETF with the SEC, hoping to make it through for the third time. New York Digital Investment Group (NYDIG), a crypto-focused investment fund, has also made a similar application, with investment banking giant Morgan Stanley acting as an authorized participant.

While several ETF applications have come and gone, none has passed through the SEC’s iron barrier. However, with the new administration showing a propensity towards progressive crypto policies, the anticipation of approval is high.

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Author: Jimmy Aki

Huobi Global Partners With BCB Group; Traders Gain Access to European Fiat On-Ramp

Huobi Global Partners With BCB Group; Traders Gain Access to European Fiat On-Ramp

Crypto exchange giant Huobi Global has announced a new partnership with BCB Group in efforts to link its trading desks to the European banking system, including the United Kingdom.

Seychelles registered crypto exchange will now offer instant euro and GBP settlements to its clientele.

The deal, which was announced on Tuesday, reveals that Huobi’s over-the-counter (OTC) customers can now complete transactions instantly using either the pound (GBP) or euros through BCB’s BLINC network.

In the recent past, crypto exchanges have faced different hurdles in their efforts to establish banking relationships that can provide an interface to the fiat money world. Before the current deal, Huobi had no established European fiat gateway, BCB CEO Oliver von Landsberg-Sadie stated.

Speaking to media outlets, Landsberg-Sadie stated that the partnership would provide a robust infrastructure that will enable seamless trading for Huobi’s customers.

“We’re here to provide that robust infrastructure so that these guys can just get on with trading and know that trades are happening in a way that’s properly monitored, that’s regulatory-friendly.”

Huobi’s head of global business, Ciara Sun, stated that the process has been rigorous and although it took some time it is for the benefit of the firm’s European customers. Sun said,

“Partnering with BCB allows us to offer a European fiat on- and off-ramping service that we know is in line with the laws of that area, but it also allows our customers in Europe to experience a smooth and hassle-free user experience.”

Huobi becomes the latest major crypto exchange using BCB’s BLINC platform, following Bitstamp, which had joined earlier. BCB stated that other partnerships with various crypto exchanges would be announced soon.

Huobi Korea Secures Certification From Korea Internet and Security Agency

Huobi Korea, an offshoot of Huobi Global operating in Seoul, has been certified as an information security management system, or ISMS. The certification complies with Korea’s Special Payment Act.

The certification means that Huobi Korea will be granted a broad management system that guarantees security as well as compliance with Korean laws. The new law requires crypto-based enterprises to report transactions as per the updated KYC and AML policies issued recently.

Huobi Korea CEO, Park Si-deok, said that the issuance of the certificate is a testament that the exchange is well prepared to offer quality services to both institutional and individual clients.

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Author: Joseph Kibe

Fidelity Increases Its Stake in the First Hong Kong Regulated Crypto Exchange, OSL

Fidelity Investments, a leading global asset manager interested in crypto, has increased its capital allocation to BC Technology Group. This firm runs the first crypto asset exchange to be licensed in Hong Kong, OSL. According to the regulatory filing, Fidelity increased its ownership stake from 5.29% to 6.29% after acquiring an additional 3.3 million shares at HK$52.3 million ($6.7 million).

Before this event, Fidelity’s shares at BC Technology stood at 17,795,500, an investment that the asset manager acquired last year at a rough figure of $14 million. The latest increment is a sign of the bullish outlook in being exposed to Hong Kong crypto markets where regulators seem to have been slowing capital inflows. Notably, BC Technology raised around $90 million in a top-up share placement last week.

Having received the Hong Kong license, OSL crypto exchange might be well onto the path of exponential growth. This much-coveted license is issued by the Hong Kong Securities and Futures Commission, which means that OSL now gives crypto exposure to both retail and institutions. The exchange recently touted its status as the world’s ‘first SFC-licensed, listed, digital asset wallet-insured, Big-4 audited digital asset trading platform for institutions and professional investors.’

Going by such fundaments, Fidelity’s capital scaling in Asia comes as no surprise; in fact, the firm recently invested in a Singapore regulated fund manager dubbed Stack Funds in a move that will enable investors to purchase and store crypto assets. Fidelity also launched a Europe based unit towards the end of last year; this particular entity was launched in the United Kingdom and will focus on extending Fidelity’s services to the larger European market.

Overall, Fidelity has had quite a good run in the crypto space; its CEO, Abigail Johnson, a crypto enthusiast, recently revealed that their custody operations have been ‘incredibly successful.’ Having launched its Bitcoin fund in early 2020, Fidelity targets investors who can invest a minimum of $100,000. Per the company’s latest updates, an estimated 36% of institutional investors have exposure to BTC or other crypto assets.

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Author: Edwin Munyui

Cboe Feeling the Bitcoin FOMO; Will Launch a Crypto Index Next Year With CoinRoutes

Now, CBOE wants in on crypto, too, again.

Cboe Global Markets is planning to launch a suite of tools including crypto indexes, real-time ticks, and historical data by the end of the first quarter of next year, in partnership with CoinRoutes. Catherine Clay, Senior Vice President and Head of Information Solutions at Cboe Global Markets, said,

“Together, we can help bring transparency to the asset class and its market models by using RealPrice data to potentially create indices and tools that help clients better understand cryptocurrencies and encourage their participation in a nascent market.”

As Bitcoin continues to rally, up 175% YTD just blew right through the all-time high, hitting $20,800, along with the rest of the crypto market, institutions have been rushing in to jump on this bandwagon.

Everyone is long on Bitcoin, and earlier this month, S&P 500 revealed its crypto index plans through Lukka in early 2021.

Now, Cboe wants to provide data for the explosive cryptocurrency market. Interestingly, Cboe launched Bitcoin futures, along with CME, at the peak of the last bull market, in December 2017. But only to close its bitcoin futures in March 2019.

Now, Cboe wants back in, although apparently their corporate interest in digital currencies never declined.

Cboe has signed an exclusive licensing agreement with CoinRoutes, a New York-based trading software firm.

One of the largest stock exchange operators in the US, Cboe aims to reach a customer base of at least thousands initially with its real-time index data and then grow it to a global level. Michael Holstein, Chief Revenue Officer, CoinRoutes said,

“We believe existing arbitrarily weighted indices that do not take into account the different fees or actual liquidity available on crypto exchange platforms do not represent the true cost of buying or selling a given cryptocurrency.”

The company’s algorithmic products are built for both spot and derivatives products.

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Author: AnTy

GoDaddy’s DNS Hack Is at the Center of Several Crypto Domains Being Compromised: Report

  • Several cryptocurrency companies were targeted in the recent hack on GoDaddy.com, the largest global domain manager, including Japan-based crypto exchange Liquid.com and crypto mining service, NiceHash.

Earlier this month, BEG reported that Japan-based cryptocurrency exchange, Liquid.com, experienced a data breach hack, affecting the users’ Know your Customer (KYC) information. The attack follows GoDaddy’s, the world’s largest domain registrar, an incursion that saw hackers trick the firm’s employees into transferring ownership and control over targeted domains.

In an analysis of the recent intrusions, Krebs on Security, a cybersecurity website, reported four more cryptocurrency firms were target to phishing and “vishing” attempts, similar to Liquid exchange.

In a letter shared to crypto traders on its exchange, Liquid.com CEO Mike Kayamori stated that several customers’ data, including email addresses and passwords, were compromised following malicious attacks on their domain registrar, GoDaddy. Mike stated,

“A domain hosting provider ‘GoDaddy’ that manages one of our core domain names incorrectly transferred control of the account and domain to a malicious actor.”

This allowed the attacker to control and change the domain name system (DNS) and control some email accounts at Liquid exchange. This allowed the attacker to compromise some of the exchange data and gain access to the firm’s document storage.

NiceHash, a cryptocurrency mining service, was also compromised from GoDaddy’s malicious attack, the report stated. Five days after Liquid noticed the attack, NiceHash also found out that its domain registration records were being changed without authorization. To secure the customers’ funds, the crypto mining service shut down their website for 24 hours, resuming operations a day later. A blog post from the company reads,

“In the early morning (UTC) hours of November 18, 2020, the NiceHash domain was not reachable. The domain registrar GoDaddy had technical issues, and as a result of unauthorized access to the domain settings, the DNS records for the NiceHash.com domain were changed”.

An analysis of the hackers’ accounts showed that the affected domains were redirected to set email addresses and websites. Further research shows three other crypto firms, including Bitbox, Celsius.network, and Wirex.app, could also have been affected.

GoDaddy’s spokesperson, Dan Race, confirmed the attack affected its employees’ details through phishing and voice phishing hacks. His statement further reads,

“As threat actors become increasingly sophisticated and aggressive in their attacks, we are constantly educating employees about new tactics that might be used against them and adopting new security measures to prevent future attacks.”

This attack is similar to the recent Twitter hack in July, whereby hackers compromised over 130+ high-profile accounts in an established cryptocurrency scam. The firm’s employees were tricked using social engineering to take over the company’s administrative tools.

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Author: Lujan Odera

SkyBridge Capital Wants to Invest in Bitcoin & Digital Assets, Reveals SEC Filing

New York City-based global investment firm SkyBridge Capital founded by Anthony Scaramucci has filed Form 424B3 with the US Securities and Exchange Commission (SEC) on Nov. 13. As per this amendment, the $3.6 billion fund of the company will start investing in Bitcoin.

“The Company may seek exposure to digital assets (as defined herein) by investing in Investment Funds that provide exposure to digital assets,” and in companies that provide technologies related to digital assets or other emerging technologies.

The fund wishes to hold long and short positions in digital assets, known as “virtual currencies” and “cryptocurrencies” with no intrinsic value other than as a method of exchange, reads the amendment.

While having a limited history, these extremely volatile assets are typically “not issued or backed by any government, bank, or central organization.” These digital assets may trade on unregulated exchanges or are outside the US and can be shut down permanently.

It further says these assets shouldn’t be expected to be correlated or connected to traditional economic or market forces as they could decline rapidly, to even zero.

“Investment Funds may invest in digital assets without restriction as to market capitalization or technological features or attributes (including lesser-known or novel digital assets known as “altcoins”) and may invest in initial coin offerings, which have historically been subject to fraud.”

The investment may be in part or whole in digital assets or technologies that are “highly disruptive, and the future successes of such technologies are highly uncertain.”

Because of being a nascent space, the companies to be invested in maybe “rapidly eclipsed by newer and more disruptive technological advances that render current digital assets or technologies outdated or undesirable.”

Covering the regulatory aspect, the report says, it is “undefined and rapidly developing” and subject to “significant uncertainty.” This means the federal, state, or foreign governments may restrict the use and exchange of digital assets at any time, which could further limit investment funds’ ability to pursue investment strategies in digital assets or cause digital assets to lose significantly, or all, of their value.

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Author: AnTy

Crypto Finance Firm, Amber Group, Partners With BitGo As The Custodian For Institutional Investors

Global crypto finance service provider Amber Group announced BitGo Trust as its qualified custodian for its institutional investors and traders.

Amber Group is a renowned name when it comes to high-frequency trading and crypto financing for institutional investors. The firm is trying to use its industry experience in partnership with the BitGo to expand its offerings. The firm wants to expand its market reach to next-generation cryptocurrency traders as well as high net-worth investors.

Amber says BitGo is the right custodian partner

Amber Group says it chose BitGo for its collaboration because of the company’s user policy controls, compliance tools, and battle-tested institutional-ready custody used in securing customers’ assets.

Another major factor that swayed Amber Group towards BitGo is the benefit of issuance. Last year, BitGo launched the most expansive and comprehensive insurance policy for digital assets, including the $100 million as protection against assets held in custody. It provided a certain level of assurance of digital assets protection that isn’t common in the industry. The assurance of funds protection is one reason why Amber Group choose BitGo as a partner in this new project.

BitGo is offering protection for funds held in its custody via the European marketplace and a syndicate of insurers in the Lloyd’s of London.

The clients who buy Excess Specie Insurance, as it is called, will stand as Dedicated Customer Loss Payee in the insurance policy, which offers an extra level of insurance protection.

The partnership will transform future finance

Chief executive officer of BitGo, Mike Belshe, has commented on the partnership. He said the partnership with Amber couldn’t have come at a better time, as Amber group has a leading edge in crypto innovations. Belshe further stated that the team at Amber was carefully selected, and they are all seasoned professionals, which is why the partnership with the firm is great.

He further reiterated that BitGo would be providing the custody infrastructure, liquidity, and security necessary for the transformation of future finance via the collaboration.

The Chief executive officer of Amber Group, Michael Wu, has also commented on the development. He pointed out,

“As we scale our operations into more jurisdictions, we prioritize partnering with reliable and well-reputable infrastructure providers like BitGo.”

He further said that the Amber group’s daily operations require the successful implementation of rigorous security measures. The company must choose the right partner committed to asset protection more than anything else in the industry.

Amber was founded in 2017 and has grown to become a top crypto-finance service provider, with more than 200 institutional clients worldwide. It has received funds from institutional partners like Coinbase Ventures, Fenbushi Capital, Blockchain.com, Dragonfly Capital, and Polychain Capital.

Amber says it’s committed to bringing professionalism and more transparency to the cryptocurrency market.

Rumor: PayPal Exploring Acquiring Crypto Companies, In Talks with Bitcoin Custodian BitGo

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Author: Ali Raza