Every second Tuesday of the month, we publish what we believe are the most important investment news of December 2018 – January 2019. Here they are:
TOP LEGAL NEWS OF DECEMBER 2018 – JANUARY 2019
Decentralized exchange (DEX) aggregator Totle has closed a fresh funding round led by major blockchain investors, according to a blog post from the firm Jan. 14. Arrington XRP, a crypto-focused hedge fund created by TechCrunch founder Michael Arrington, alongside top blockchain investment funds NEO Global Capital (NGC) and Goren Holm Ventures, have reportedly jointly led the $1 million round.
Iceland’s blockchain-based identity verification platform Authenteq has raised $5 million in a funding round led by Draper Associates and Capital300, the American tech website VentureBeat reports on Jan. 14.
Foreign investors are interested in the Crimean blockchain cluster, local official Georgy Muradov told Russian major news agency RIA Novosti on Jan. 2. Muradov, who serves as the permanent representative of the Republic of Crimea under the president of the Russian Federation, revealed that the project is mainly of interest to Chinese investors, as the country houses many crypto startups.
Digital assets platform Bakkt — created by the operator of the New York Stock Exchange (NYSE) — has announced the completion of its first funding round in a blog post today, Dec. 31. The institutional investor-focused cryptocurrency platform from the Intercontinental Exchange (ICE) has officially raised $182.5 million from 12 partners and investors, according to the post.
The startup aims to start a “financial revolution” by creating its own social network, where users can earn tokens and spend them by hiring top investment professionals and investing in the products and services they choose. The idea of the Huddl project is to break the traditional investment model, in which the company says that premium products are available only for wealthy people or for institutional investors.
Wall Street giants are postponing their plans to more actively enter the crypto industry as the value of cryptocurrencies has fallen, Bloomberg reports Sunday, Dec. 23.
Amidst another crypto rebound, crypto investment bank Galaxy Digital said in a note to clients on Dec. 20 that short rallies like the current one are what happens “before a real rally ensues.” Crypto markets are seeing a fifth day of rebound, with Bitcoin (BTC) breaking the $4,000 threshold for the first time since it plunged below the price point on Dec. 3, Mike Novogratz’s Galaxy Digital told its clients that crypto markets could gain even more momentum.
One year after Bitcoin (BTC) broke crypto industry records to hit $20,000, a partner at venture capital firm Blockchain Capital says that today’s bearish market represents “a fantastic buying opportunity.” Spencer Bogart made his remarks during an interview on CNBC’s “Fast Money” on Dec. 17.
In its recent analysis published Dec. 17, research firm Diar has found that institutional investors have shifted towards higher liquidity over-the-counter (OTC) physical Bitcoin (BTC) markets. Diar noted growing investment in OTC funds like that offered by major American cryptocurrency exchange Coinbase. According to the report, Coinbase outperformed Grayscale’s Bitcoin Investment Trust (GBTC) on OTC markets in terms of BTC trade volume. While OTC trade volumes are dwarfed by non-OTC investment, it is still significant as OTC markets are only open for 31 percent of annual tradable hours.
The Italian securities regulator has suspended two projects for allegedly offering fraudulent crypto investment schemes. The 90-day suspensions were reported in an official statement on the regulator’s website published Monday, Dec. 17. The Italian Companies and Exchange Commission — or Commissione Nazionale per le Società e la Borsa (CONSOB) — is the Italian analogue of the United States Securities and Exchange Commission (SEC) and represents a governmental authority that regulates the Italian securities market.
Read more news in the new issue of our Rising Blockchain Magazine.