Both have had their share of dramatic rises and falls, sparking debates among investors about their viability and future growth. 

This article aims to explore the performance and potential of each, helping investors decide which asset might dominate in the long run. 

Understanding Nvidia Stock

Nvidia Corporation (NASDAQ: NVDA), known for its powerful graphics processing units (GPUs), has expanded its influence far beyond mere gaming. 

Its foray into artificial intelligence, data centers, and automotive technologies has positioned it as a pivotal player in several burgeoning industries. 

The stock has seen substantial growth, especially as AI and machine learning have become central to technological advancements.

The company reported a revenue increase of 20% in the last quarter, attributed to soaring demand in its gaming and professional visualization segments. 

So far this year, Nvidia’s stock has surged by almost 54%, ranking in the top 10% of its industry, according to data from Finance Charts.

Analyzing Bitcoin’s Trajectory

Bitcoin, the first and most well-known cryptocurrency, has been a beacon for volatility and spectacular returns. 

Since its creation in 2009, Bitcoin has consistently outperformed many traditional investment assets, including stocks, bonds, and precious metals. 

Nevertheless, the price of Bitcoin has experienced significant fluctuations. 

After reaching an all-time high in late 2021, it faced a steep decline amid concerns over regulation and market stability. 

However, the leading cryptocurrency once again started gaining momentum in late 2023 and early 2024 amid optimism around the potential approval of a Bitcoin spot ETF.

On March 14, Bitcoin registered a new all-time high of around $73,750, before trimming losses due to rising geopolitical conflicts and increasing investor caution. 

Nvidia Stock vs. Bitcoin: Comparative Analysis

Nvidia stock and Bitcoin represent two vastly different opportunities with their unique risks and rewards. 

However, for a better comparison between the two, it is important to consider several factors, including: 

1. Volatility and Risk

While both assets are known for their volatility, Nvidia’s stock is backed by a solid business foundation, making it potentially less risky than Bitcoin. 

Nvidia’s performance is closely tied to product demand and innovation in tech sectors, whereas Bitcoin’s value can swing wildly based on less predictable factors like investor sentiment and regulatory changes.

It is worth noting that Bitcoin’s volatility is one of its most defining and discussed characteristics, making it both an enticing and risky asset for investors.

2. Market Potential

Nvidia’s expansion into AI and deep learning presents a clear pathway for growth, especially with the increasing application of these technologies in various industries. 

Likewise, the approval of Bitcoin spot ETFs by regulatory bodies like the US Securities and Exchange Commission (SEC) is a strong signal of Bitcoin’s acceptance within the traditional financial system. 

This regulatory nod increases the legitimacy of Bitcoin as a viable investment asset, enhancing investor confidence, particularly among institutional and conservative investors who may have been hesitant to engage with cryptocurrencies due to their unregulated nature.

However, Bitcoin also faces uncertainties such as regulatory crackdowns and competition from other cryptocurrencies and even central bank digital currencies (CBDCs).

3. Investment Returns

Historically, the Return on Investment (ROI) for Bitcoin has been extraordinary, particularly for early investors.

Bitcoin’s extreme ROI outpaces traditional assets like stocks and gold by a considerable margin.

For perspective, the average annual ROI for the S&P 500, a common benchmark for US stocks, is about 7-10% over most 10-year periods, while gold has appreciated on average about 1-2% above inflation per year over the last 50 years.

#Bitcoin, gold, S&P 500
ROI vs $USD

Bitcoin's relatively small size, plus fundamental properties, yield extreme outperformance when even relatively small funds-flows find their way to $BTC pic.twitter.com/B9HHJCUQlj

— CryptoRobinhood (@cryptoMbit) April 18, 2024

Nvidia’s stock might offer more stable returns, especially as the company continues to innovate and expand its market reach.

The Bottom Line

Deciding whether Nvidia stock or Bitcoin is a better investment depends on one’s risk tolerance, investment horizon, and belief in certain technological advancements. 

As we look toward the future, Nvidia stock seems poised to provide sustained growth driven by tangible products and services. 

Bitcoin, while potentially lucrative, carries inherent risks that might deter more conservative investors. 

In short, Nvidia offers a more traditional investment in a high-growth company, while Bitcoin presents a riskier but potentially more lucrative bet on revolutionary financial technology.

The post Nvidia Stock vs. Bitcoin: Which Investment Will Dominate in the Long Term? appeared first on Cryptonews.

Other participants in the funding round include Fenbushi Capital, Polymorphic Capital, Red Beard Ventures, Dewhales, and G1 Ventures.

In an announcement, Azuro said the funding will be used to further accelerate ecosystem development during this critical phase of expansion and to intensify marketing efforts in the decentralized prediction market space.

Funding Secured Ahead of $AZUR Token Launch

Azuro has plans to drop a token, “AZUR” shortly although no timeline has been given.

“This round of funding arrives just as we’re about to hit some major milestones in our journey, including the much-anticipated launch of our $AZUR token, which is at the heart of what we’re building,” said Rossen Yordanov, core contributor at Azuro, in a press release.

“With this new capital injection, we will bring Azuro even closer to our big goal: making prediction markets clearer and more open to everyone,” added Yordanov. 

Azuro Received $7.5M Funding in 2022

Azuro said this latest funding round follows a previous injection of $7.5 million back in 2022 from a cohort of 25 investors secured in Seed and Strategic rounds.

Contributions in the 2022 round came from AllianceDAO, Ethereal Ventures, Delphi Digital, Gnosis, and Merit Circle. 

In anticipation of its token launch, Azuro announced it has also recently progressed to the third and final stage of the Azuro Score, witnessing significant momentum across its expanding ecosystem.

Since the start of Stage 2 in September 2023, transaction volumes have soared beyond $225M, with revenues exceeding $2.4 million.

The firm said over 20 dapps are already operational and employing Azuro’s infrastructure to run their businesses, with dozens more in the pipeline, and 4,400+ liquidity providers actively participating in the pools.

VC Funding Surges 2024

Venture capital funding in the Web3, gaming, AI and crypto space has experienced a surge in the first quarter of 2024, breaking a two-year downtrend.

Both the total amount invested and the number of projects receiving VC funding have seen substantial increases since Q4 2023, according to data gathered by crypto analysis platform Crypto Koryo, as reported by Ruholamin Haqshanas from Cryptonews. 

Data shows there has been a notable 38% rise in funds invested during the quarter, indicating a renewed investor confidence in the crypto industry.  Moreover, there has been a remarkable 49% increase in the number of projects securing funding, a level not witnessed since Q4 2021. 

The post Azuro Raises $11M Led by SevenX Ventures and Arrington Capital appeared first on Cryptonews.

In an announcement, Luno said it has been awarded its financial services provider license following the FSCA’s declaration of crypto assets as a financial product in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS).

“As a homegrown trailblazer with more than ten years of experience in the crypto market, Luno is thrilled to be the first licensed crypto asset service provider in the country,’ said Christo de Wit, Luno’s country manager for South Africa, in a press release.

“This is a positive step for both the cryptocurrency industry and South Africans. Compliance, safety and security for our customers have driven our growth since the beginning and will continue to be priorities as we expand our offering to introduce more features and products for financial institutions,” said Wit.

Luno is the first dedicated Crypto Asset Service Provider in South Africa to be awarded its Financial Services Provider licence

Read the full story here:https://t.co/D9rhnRVd5S pic.twitter.com/xj2qh7Kxfo

— Luno (@LunoGlobal) April 11, 2024

Luno is a crypto exchange with a cryptocurrency investment app and was first launched in 2013. It is available in more than 40 countries across Europe, Africa, Asia and Australia.

FSCA to Authorize 59 Digital Asset Firms

In March, it emerged that the FSCA is approving 59 operating licenses for cryptocurrency exchanges. There have been more than 300 South African crypto providers seeking permits and out of those only 59 have been approved. By law, digital-asset exchanges require permits to operate in the country.

Back in 2022, the FSCA declared cryptocurrency assets to be financial products and made it clear they needed to be regulated to protect financial customers from risks and prevent money laundering and terrorism financing. The FSCA gave exchanges until November 30 to apply for licenses or the firms would risk facing enforcement action.

FSCA’s Framework for Regulating Crypto Assets

In 2021, the FSCA published a paper highlighting that crypto assets will be brought into the South African regulatory purview in a “phased and structured manner.”

The FSCA went on to explain given the increased retail interest in crypto assets, growing instances of consumer abuse, fraud and market misconduct have been noted both internationally and in South Africa. Recent schemes highlighted in the media further emphasise the need for the South African authorities, predominantly through the FSCA, to take action against the growing tendency for market abuse under the guise of crypto assets.

The post Crypto Exchange Luno Receives License From South Africa’s Financial Regulator appeared first on Cryptonews.

MicroStrategy’s Convertible Bonds

Since January 1, MSTR has surged 110% to $1440 per share. Meanwhile, its convertible bonds – issued in late 2020 to raise $650 million – now trade for over three times their par value, which is based on their conversion price of $397.99.

A “convertible bond” is a debt instrument that acts like a regular bond with a fixed interest rate, but can also be paid back by the issuer in new shares if the value of their stock rises high enough.

They are often issued and used by firms to raise capital at lower than market rates without necessarily diluting shareholder value right away by issuing new stock. Given that standard interest rates are now at decade-highs, they’re an especially attractive option for MSTR, which seeks to raise money fast to buy as much BTC as possible.

According to MicroStrategy’s December 2020 press release, the bonds carry a meager 0.75% interest rate and are due for maturity in December 2025.

Thus, MicroStrategy is presented with two choices: retire the convertible bond and pay back investors with cash for $2.5 billion, or allow them to mature in 2025, convert to shares, and flood the market with 1.63 million shares.

Michael Youngworth, Bank of America Corp.’s head of global convertibles and preferreds strategy, said the following to Bloomberg:

“It’s more likely that a deep in-the-money convertible bond is ultimately converted into shares rather than being bought back by the issuer.”

HODLing Bitcoin Forever

MicroStrategy’s plan to deal with the debt remains uncertain, but a simple cash payout appears unlikely. A late 2023 filing showed that the firm only held $46.8 million of cash and cash equivalents on its balance sheet.

The vast majority of the company’s wealth is held in Bitcoin (BTC), now numbering 214,245 BTC worth $14.9 billion. The firm’s executive chairman Michael Saylor has made clear that MicroStrategy has no plans to sell any of its coins, potentially holding for over 100 years.

Last month, MicroStrategy completed two separate convertible note sales totaling $1.4 billion. All proceeds from the sale were used to buy more Bitcoin.

The post Why MicroStrategy Could Flood The Market With 1.6 Million Shares Of MSTR appeared first on Cryptonews.

In a recent research analysis, KBW raised its Coinbase price target from $160 to $230 while maintaining its market performance rating. 

The stock closed at $245.84 on Tuesday and has experienced a notable year-to-date increase of over 40%.

Analysts Express Optimism About Coinbase’s Revenue Prospects

In the report, analysts led by Kyle Voigt expressed optimism about Coinbase’s revenue prospects in the near term. 

They highlighted the potential revenue opportunity arising from the growing outstanding balances of USD Coin (USDC), a stablecoin issued by Circle and backed by Coinbase. 

“We see a significant near-term revenue opportunity from inflecting USD Coin (USDC) outstanding balances, elevated crypto asset levels, and an apparent retail re-engagement from trough levels in 2023.”

According to the report, USDC outstanding balances surged by 32% in the first quarter. 

Coinbase earns gross interest income on approximately 56% of these outstanding balances, further contributing to its revenue growth.

The report also emphasized the positive impact of surging trading volumes on Coinbase’s stock performance. 

In March, the average daily volume (ADV) reached $5.1 billion, compared to $2.4 billion in February. 

Investment bank KBW has revised its target stock price for Coinbase (COIN) from $160 to $230, indicating increased optimism about the company's prospects. This upward revision is attributed to several factors including the ongoing cryptocurrency bull market, interest income…

— BitcoinWorld Media (@ItsBitcoinWorld) April 3, 2024

Increased trading activity reflects growing investor interest in cryptocurrencies and further bolsters Coinbase’s position in the market.

However, the research report acknowledged the challenges Coinbase faces, including its legal battle with the U.S. Securities and Exchange Commission (SEC) and the uncertain regulatory environment. 

These factors make it difficult for many institutional investors to consider owning Coinbase stock.

SEC’s Case Against Coinbase Advances

Last week, Judge Katherine Polk Failla of the US District Court of the Southern District of New York ruled that the SEC’s lawsuit against Coinbase can proceed.

The Judge’s decision came after Coinbase filed a motion to dismiss the SEC case, which borders on allegations the exchange operates as an unregistered securities exchange, broker, and clearing agency.

In her ruling, Judge Failla declared that the SEC’s lawsuit against Coinbase held “plausible” ground. 

“The Court finds the SEC has sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, and through its Staking Program engages in the unregistered offer and sale of securities,” the court document read.

She granted a partial victory to the exchange against the regulator, however, dismissing the SEC’s claims against Coinbase’s Wallet.

The judge ruled that the regulator’s claims “fails for the independent reason that the pleadings fall short of demonstrating that Coinbase acts as a “broker” by making Wallet available to customers.”

The post KBW Increases Coinbase Price Target to $230, Citing Exposure to Long-Term Crypto Economy Growth appeared first on Cryptonews.

Funding will be used by Elixir Games to launch its native token “$ELIX” and its “Launchpad & Incubation Program” which go live later this year.

In an announcement, Elixir Games said investors in the funding round were particularly interested in supporting its Launchpad & Incubation Program which will provide support for web3 gaming developers and launch a process for games under the Elixir portfolio.

“This [funding] achievement reflects our commitment to innovation, unity, and excellence in web3 gaming,” said Carlos Roldan, CEO of Elixir Games, in a press release. “As we embark on this journey, our focus is on fostering a community with our infrastructure that leads to groundbreaking gaming experiences,” said Roldan.

Elixir said it has an “extensive roadmap of upcoming releases in 2024” and this includes the release of its native token $ELIX token that aims to simplify the web3 user experience through its gaming platform.

In December 2023, Elixir has successfully raised $7.5 million in a series A investment round led by Hack Venture Capital.  The investment boosted the protocol’s valuation to an impressive $100 million. Investors included AngelList Ventures, NGC Ventures, Bloccelerate, Hudson River Trading, Genesis Trading, and angels from Ledger Prime. 

Web3 Gaming is Growing

On Tuesday, the Web3 gaming firm Illuvium announced it raised $12 million in a series A funding round with contributions from investors such as Australian venture capital firm King River Capital, Arrington Capital and Animoca Ventures.

The funding will be used to develop new games within the Illuvium ecosystem as the firm gears up for its second quarter 2024 gaming releases.

$100M Gaming Fund Launched

Last week, King River Capital, blockchain gaming firm Immutable and Polygon Labs announced they had teamed up to launch a $100 million gaming fund.

The trio said the new fund dubbed the “Inevitable Games Fund” is a first of its kind “ecosystem-agnostic fund” and will identify high growth opportunities for investors. VC firm King River Capital will lead the investment process with other two specialist firms providing key sourcing and web3 gaming expertise.

Gaming Revenue to Grow in 2024

In 2023, it is estimated that the blockchain gaming related rounds reached $1.7 billionwhich is a significant part of that has flowed to the 270 blockchain games in development on Immutable.

The post Web3 Gaming Platform Elixir Raises $14M Funding From Solana Foundation and Square Enix appeared first on Cryptonews.

In a report published on March 25, the IMF’s senior economic experts examined the potential impact of both private stablecoins and central bank digital currencies (CBDCs) on the economies of Pacific Islands countries.

The report noted the that nations have limited and unequal access to financial services, which contributes to persistent poverty and inequality. 

Moreover, these countries heavily rely on remittance flows, making them particularly vulnerable to the diminishing correspondent banking relationships.

Digital Money Could Help Pacific Island Nations

To address these issues, the IMF believes that embracing the digital money revolution could unlock several benefits for the Pacific Island nations. 

By developing robust payment systems, expanding financial inclusion, and mitigating the loss of correspondent banking relationships, these nations can pave the way for economic growth and stability.

While the report predominantly focuses on CBDCs, a cause strongly advocated by the IMF, it also acknowledges the potential of private stablecoins backed by foreign currencies. 

The IMF advises against smaller Pacific Island countries issuing their own sovereign stablecoins due to limited oversight capacities. 

However, the report specifically mentions Tether as a private stablecoin.

IMF urges careful design, slow introduction for Pacific Island digital currencies
The island nations have common challenges and widely varying conditions. Just don’t use crypto, the IMF says.

— Mr Legend Crypto (@mrlegendcrypto) February 28, 2024

For Pacific Island countries with existing national currencies and mature banking systems, the IMF suggests a two-tier CBDC model, where the central bank issues the digital currency but delegates its operation to private intermediaries. 

As for countries without their own currencies, the report suggests that foreign currency-based stablecoins could be a viable alternative, but with stringent regulation and supervision in place.

Currently, none of the Pacific Island countries officially utilize private cryptocurrencies or stablecoins, with only a few, such as Fiji, Palau, Solomon Islands, and Vanuatu, exploring the concept of CBDCs.

IMF Continues to Advocate for CBDCs

The IMF remains at the forefront of international advocacy for the implementation of CBDCs. 

Its managing director, Kristalina Georgieva, has emphasized the potential of CBDCs to replace cash and coexist with private money, serving as a safe and cost-effective alternative.

According to the Atlantic Council CBDC tracker, 130 countries, representing 98% of global GDP, are currently exploring a CBDC, while 19 of the G20 countries are in the advanced stage of their CBDC development.

In total, 11 countries have fully launched a CBDC, which include China, The Bahamas, Nigeria, Anguilla, Jamaica, and seven Eastern Caribbean countries.

It is worth noting that the United States is among the few countries that have no confirmed plans to launch a digital currency.

However, the country has been still moving forward on a wholesale (bank-to-bank) CBDC.

Moreover, some lawmakers in the US have staunchly opposed a CBDC due to privacy concerns. 

Florida Governor Ron DeSantis, and now Republican presidential candidate, signed a bill last year, banning CBDCs.

“The movement to establish a central bank digital currency is an attempt to surveil & control the finances of Americans. It would violate privacy, limit consumer choice & undermine market competitiveness,” DeSantis said at the time. 

The post IMF Proposes Digital Money to Enhance Financial Inclusion in Pacific Island Nations appeared first on Cryptonews.

In an announcement, D2X said the investment comes as it reached a “pivotal milestone” by becoming the first entity in the European Union (EU) to obtain a Markets in Financial Instruments Directive (MiFID) multilateral trading facility (MTF) license for crypto derivatives.

MTFs operate under the EU’s MiFID II which stipulates that financial instruments traded via an MTF must be exchanged on a ‘non-discretionary basis’. MTFs provide retail investors with an alternative platform to trade financial securities.

D2X said it has been granted the license by the Dutch Authority for Financial Markets (AFM) The license authorizes D2X to operate a regulated trading venue for cash-settled crypto futures and options.

The Netherlands-based exchange said it will launch in the second quarter of 2024 and aims to be the first exchange in Europe to list regulated crypto derivatives seven days a week.

Plans to ‘Revolutionize’ Crypto Derivatives Market 

“Point72 Ventures is thrilled to support D2X on its mission to revolutionize the crypto derivatives market,” said Adam Carson, partner at Point72 Ventures, in a press release.

“Their dedication to providing a regulated trading venue for institutions, coupled with their innovative approach, has the potential to make transformative changes in the industry. We’re excited to be part of this journey,” adds Carson.

Over the years, the crypto derivative markets have seen increasing interest. Crypto derivatives are complex, tradeable financial instruments typically used by advanced traders.

Point72 Ventures has been actively investing in startups in the digital asset space despite the volatility in the sector.  In 2021, Point72 Ventures became the lead investor in Messari.

Bull Market Triggers Increased VC Funding

As the market enters a crypto bull run, this in turn is triggering positive sentiment with several venture capital investors firms eyeing up new projects to invest in.

The last few years have been followed by scandals and the FTX collapse in the crypto space,  but it seems the community is now seeing some light at the end of the tunnel.

Venture capital investment in crypto startups climbed 2.5% to $1.9 billion in Q4 2023, marking the first such rise since Q2 2022, according to recent PitchBook data. 

The post Steve Cohen’s Point72 Ventures Leads $10M Funding Round in Crypto Exchange D2X appeared first on Cryptonews.

In an announcement, ClearToken revealed a rough timeline for when it plans to start offering services in 2025-2026 depending on when the firm receives regulatory approval.

The purpose of a clearinghouse in the digital assets space is to validate and finalize transactions, ensuring that both the buyer and the seller honour their contractual obligations and that a settlement of trade is cleared — a clearing house is placed between trade execution and settlement

ClearToken said it plans to be fully regulated in the UK and has initiated the process of obtaining clearing house recognition from the Bank of England, intending to launch central counterparty clearing house (CCP) services in 12-18 months.

In the meantime, ClearToken said it intends to launch preliminary settlement services in 2024, but this is subject to approval from the UK regulator, the Financial Conduct Authority (FCA) and the Bank of England.

“We are delighted with the institutional reception to ClearToken from both established institutional investors, who play a significant role in traditional markets, as well as digital asset pioneers, all of whom have understood the value which ClearToken can bring to digital asset markets,” said Benjamin Santos-Stephens, CEO of ClearToken in a press release.

Nomura’s Digital Asset Plans

In 2023, Japan’s largest investment bank, Nomura, unveiled its Bitcoin Adoption Fund through its crypto subsidiary, Laser Digital. The firm announced it would use Koimanu, an entity established in 2018 by Nomura, Ledger, and Coinshares, to custody the fund’s assets.

Laser Digital and Komainu obtained operating licenses from Dubai’s Virtual Asset Regulatory Authority (VARA), clearing the path to offer various digital asset trading services and investment products.

The post ClearToken Receives Over $10M Investment From Nomura’s Laser Digital, Flow Traders and GSR appeared first on Cryptonews.

The “Figment Ethereum Plus Staking Rewards” ETP will trade under the ticker symbol “ETHF” and the “Figment Solana Plus Staking Rewards” ETP will trade under the ticker “SOLF” once live. The products are fully backed by Ethereum and Solana, respectively, using Figment’s staking infrastructure.

Both ETPs will be issued with Issuance.Swiss AG — the products will give access to staking rewards through traditional brokers or banks allowing conservative institutions to hold the asset class through the ETPs.

The Ethereum and Solana ETPs will track an index provided by MarketVector which measures the price performance of ETH along with the staking rewards earned by the product, using Figment’s rewards indexing capabilities.

“Unprecedented Demand” From Institutional Investors

Figment said there is unprecedented demand for crypto ETPs and it remains a challenge for institutions to buy crypto and stake directly.

“We remain committed to the unprecedented demand we are seeing from institutional investors wanting staking exposure,” said Eva Lawrence, Head of Figment Europe, in a press release.

“The popularity and interest in ETH and SOL has increased substantially over the past few months,” said Josh Deems, Institutional Business Development Lead for Figment, adding, “However, it is still challenging for institutions to buy crypto and stake directly. The ETPs will contribute to an increased accessibility to staking rewards for a wide audience, and we at Figment are proud that Apex and Issuance.Swiss chose Figment to be part of this development.”

European Market Leads the Way With ETPs

Earlier this year, the U.S. Securities Exchange Commission (SEC) approved almost a dozen spot Bitcoin exchange-traded funds (ETFs) which has in turn triggered a bull market and trading frenzy.

In Europe, many issuers have successfully listed numerous cryptocurrency ETPs over the years ago giving investors exposure to Bitcoin and Ethereum. Major crypto ETP providers in Europe include CoinShares, 21Shares, WisdomTree, ETC Group, Valour and Fidelity.

Crypto ETPs Versus ETFs – What’s the Difference?

According to CoinShares, a European asset manager specializing in digital assets, in the U.S. the term “ETF” has become the default term for all exchange-traded products that aim to replicate the performance of an underlying asset or benchmark.

“In Europe, due to specific fund regulations, the term “ETF” cannot be used for single assets like bitcoin, gold, or smaller baskets of assets. This regulatory distinction means that when European investors search for a “crypto ETF,” they should be searching for a “crypto ETP” instead,” explains CoinShares on its website.

In February, CoinShares announced investors of the Europe-listed CoinShares Physical Ethereum ETP (ticker: ETHE/CETH) can earn a 1.25% staking reward per year.

The post Figment, Apex Group to List Ethereum, Solana ETPs on SIX Swiss Exchange Next Week appeared first on Cryptonews.

The company’s Technology Strategy 2030 report outlines plans to address this increased demand through investment in network infrastructure and services.

Nokia predicts a substantial 22%–25% rise in network demand from 2022 to 2030, fueled by the growing adoption of generative AI and virtual reality devices. Federico Guillén, president of network infrastructure at Nokia, attributes this uptick to the mainstream emergence of these technologies.

Nokia’s Strategic Investment in Network Technologies for the Metaverse and Beyond

As the distinction between the digital and physical worlds continues to blur, organizations and service providers will increasingly adopt technologies that augment network traffic requirements significantly.

To address this anticipated surge in demand, Nokia plans to invest heavily in its portfolio of network equipment and services over the coming years.

The company aims to cater to various emerging ecosystems, with a particular focus on the Internet of Value, decentralization, blockchain, and smart contracts.

Additionally, Nokia is gearing up to capitalize on opportunities in the metaverse, with a focus on human augmentation, spatial computing, and split processing.

In line with its strategic objectives, Nokia has already established two labs dedicated to studying the metaverse and its underlying technologies.

Furthermore, the company has conducted numerous experiments involving industrial and wide-scale metaverse initiatives, including projects aimed at enhancing aircraft maintenance through augmented reality.

One noteworthy initiative involved using a 5G-connected Microsoft HoloLens to provide remote instructions for servicing Cessna aircraft. This innovative approach demonstrated the potential of augmented reality to assist technicians at remote airports.

Navigating the Future of Connectivity and Digital Transformation

The initial approach at Nokia focuses on exploring key emerging trends and identifying a suitable set of network technologies to mitigate complexities and unlock new possibilities by enhancing synergies between the human, physical, and digital worlds.

The Technology Strategy 2030 highlights AI, cloud computing, the metaverse, the Internet of Value, Industry 5.0, and API networks as key trends shaping the future.

According to Nokia, by 2030, the world is expected to witness a surge in new connected devices, driving mass adoption of the metaverse across consumer, enterprise, and industrial sectors.

Supply chains and manufacturing facilities will undergo extensive transformations, with real-time interactions between enterprises and distributor systems enabling efficient supply planning and estimation. The metaverse will revolutionize manufacturing operations, from design to testing, real-time monitoring, and remote maintenance.

Businesses are also experiencing the emergence of Web3, a decentralized, user-centric Internet infrastructure built on blockchain technology. Nokia noted in its report that cloud computing and advanced AI have become foundational requirements in organizations’ digital transformation journeys.

However, the deployment of multi-cloud architecture and the use of AI-embedded devices for developing cutting-edge business models are expected to gain further momentum in the years ahead.

Nokia’s Technology Strategy 2030 places a strong emphasis on advanced, dynamic, and intelligent network infrastructure capable of real-time performance optimization, zero-touch automation, customer experience analytics, advanced security, privacy features, and more.

The network architecture will incorporate a digital twin system with diverse APIs, empowering service providers and enterprises with valuable situational awareness and streamlined management of interconnected infrastructures.

By driving the transition of global enterprises into smart virtual networks, Nokia aims to create a single network for all services, converging mobile and fixed broadband, IP routing, and optical networks with the software and services to manage them.

By leveraging state-of-the-art technology, Nokia will transform the way people and things communicate and connect with each other, positioning itself at the forefront of the digital transformation.

The post Nokia Aims for Metaverse Expansion in 2030 Strategy appeared first on Cryptonews.

Vanguard is the second largest asset management firm after BlackRock.

In an announcement, the firm said under Buckley’s leadership, Vanguard expanded its client base by tens of millions to more than 50 million investors globally, growing assets under management by more than 80% to $9 trillion. The firm announced chief investment officer Greg Davis has been appointed to the additional role of president of the firm, effective immediately.

Vanguard’s Anti Crypto Stance 

In January, Vanguard said it had no immediate plans to add spot Bitcoin exchange-traded funds to its platforms despite the introduction of such ETFs generating headlines and buzz in the industry.

“Given the current state of crypto as an asset class, Vanguard does not have plans to launch its own bitcoin ETF or any crypto-related products. When deciding what investment products to offer, we consider a range of factors, including whether we believe they have enduring investment merit and meet our clients’ needs,” wrote Janel Jackson, Vanguard’s head of ETF Capital Markets and Broker and Index Relations in a note.

“While the discussion about bitcoin and cryptocurrencies, in general, has increased recently, we do not currently believe that there is an appropriate role for them to play in long-term portfolios,” adds Jackson.

Wall Street Banks Hungry for Crypto

Vanguard’s rival BlackRock is continuing to gain popularity with the launch of its Bitcoin spot ETF which has caused quite a stir in the markets. BlackRock’s ETF trading under the ticker symbol IBIT has doubled its personal record on the third consecutive day with $3.3 billion in trading volume. Fidelity’s spot Bitcoin ETF also doubled its previous record with $1.4 billion trading volume on the same day.

On Wednesday, a media report emerged that Morgan Stanley is also considering adding spot Bitcoin ETFs to its brokerage platform and is currently in the process of conducting due diligence.

The post Vanguard CEO Tim Buckley to Retire by End of Year appeared first on Cryptonews.

In an announcement, Deus X Capital said a mutual agreement has been reached with HAYVN shareholders to purchase the business’s brand, technology, clients and staff in a deal that the parties aim to close before March 28, 2024.

Abu Dhabi-based crypto trading firm HAYVN is an over-the-counter (OTC) and custody platform for digital currencies. In 2022, it was widely reported HAYVN was courting investors for a Series B round to eventually IPO, as reported by Reuters.

This purchase will allow the crypto investment firm to expand its presence in the Middle East. In December it emerged that HAYVN CEO Christopher Flinos resigned unexpectedly due to unknown circumstances.

Richard Crook has been appointed the new CEO of HAYVN with a focus on growing the business. Before joining HAYVN Crook held the position of COO at BCB Group, a digital assets payments business, and was the head of emerging technology at investment bank RBS and has held senior management positions at the Swiss investment bank UBS.

“We are committed to providing institutional clients with the critical services they need to capitalise on the existing and growing opportunity in digital assets, while continuing to build and develop new capabilities. HAYVN is core to our strategy and represents another pillar of our commitment to the Middle East region,” said Tim Grant, CEO, Deus X Capital, in a press release.

Why Crypto Execs Are Opening Offices in Abu Dhabi

In 2023, a number of cryptocurrency firms were expanding to the Middle East with a focus on Dubai and Abu Dhabi. These firms included crypto businesses such as Copper, Paxos and eToro.

Hedge fund manager and billionaire Alan Howard has pitched Abu Dhabi as the next upcoming global financial centre. The region has the best time zone to trade for macro money managers, reports Nishant Kumar from Bloomberg.

The post Crypto Investment Firm Deus X Capital in Agreement to Purchase HAYVN for Undisclosed Amount appeared first on Cryptonews.

Seychelles-based cryptocurrency exchange HTX is a trading platform which is backed by China-born entrepreneur Justin Sun, HTX has not disclosed its reason for withdrawal. A spokesperson from HTX was unavailable for comment at the time of press.

The SFC website features a list on its website informing the public of the regulatory status of virtual asset trading platforms operating in Hong Kong.

Tough Times For HTX

HTX and its sister exchange Poloniex have both experienced exploits over the years. In early November, Poloniex lost $125 million from its hot wallet after a hacker pilfered a wide assortment of over 175 different tokens from the exchange.

At the time, Sun confirmed that such losses were “within manageable limits” and could be covered for users with the exchange’s revenue. Back then Sun reassured customers that deposits at sibling crypto exchanges HTX and Poloniex were “100% safe” despite multiple recent hacks – Sun is the owner of both platforms.

In a conversation with CoinDesk, Sun said that both platforms had recovered from the hack, and have already resumed user withdrawals for the vast majority of their assets.

“I think for HTX, we have already resumed 95% in terms of USD worth of assets,” said Sun. “On Poloniex, we have resumed around 85% in terms of the USD value of the assets.”

In June, Sun told CoinDesk that he predicted HTX would receive a Hong Kong crypto trading license in the next 6 to 12 months.

Crypto.com Applies For License With SFC

In January, Crypto.com, the Singapore-based cryptocurrency exchange, threw its hat into the ring for a license to operate in Hong Kong, as reported by Jai Pratap from Crypronews, The company applied to the Hong Kong SFC on February 9th, seeking approval to operate as a virtual asset trading platform (VATP).

The post HTX, Formerly Huobi, Withdraws Hong Kong Crypto Exchange Application appeared first on Cryptonews.

FTX invested $500 million back in Anthropic in 2021 and holds a 7.84% stake in the company, according to court documents. The Delaware judge has approved FTX’s proposal to sell the shares after the bankrupt exchange reached a compromise in court with a group of FTX customers that had opposed the sale.

What is Anthropic

There has been huge hype around artificial intelligence startups. Anthropic was founded by Daniela and Dario Amodei, who previously worked at the firm OpenAI and could IPO soon.

“Anthropic has followed a similar path as OpenAI, raising $1.6 billion in funding as of August 2023. It recently released its competitor to ChatGPT, Claude 2. The Claude 2 chatbot is a generative text platform trained using data scraped from the internet combined with human feedback,’ according to a MarketBeat report.

The company has also released a faster and cheaper model for businesses called “Claude Instant,” which also features constitutional AI designed to reduce brand risk.

Anthropic Valuation at $18.4 Billion

In December, Anthropic is in discussions to raise $750 million in a funding round led by Menlo Ventures. This funding round would then value Anthropic at $18.4 billion, nearly 4.5 times the startup’s $4.1 billion valuation earlier this year.

This value has sparked hope among victims of the FTX collapse, as FTX anticipates having sufficient funds to fully repay all customer and creditor claims.

On February 11, FTX Debtor’s estate, under the leadership of CEO John Ray III, initiated the process of selling Digital Custody Inc. (DCI) to CoinList. FTX had previously acquired the subsidiary in two separate transactions, one in December 2021 and the other in August 2022, for a total of $10 million, as reported by Ruholamin Haqshanas at Cryptonews.

Now-defunct cryptocurrency exchange FTX has been embroiled in a legal battle that could extend over several years as creditors seek to recover over $8 billion.  The case, filed in November, involves multiple parties fighting over the remaining assets, making it more complex and time-consuming than other crypto bankruptcies, according to Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog.

FTX has expressed it has intention to repay all its creditors and has been actively seeking to divest some of its subsidiaries as part of the ongoing bankruptcy process.

The post FTX Cleared to Sell Its Stake in AI Startup Anthropic appeared first on Cryptonews.

In March 2021, Van Eck launched a “Social Sentiment ETF” trading under the ticker “BUZZ.” The ETF tracks an index based on “positive insights” from social media and other data and failed to disclose this, according to the US SEC.

The SEC said Van Eck failed to disclose an influencer’s “planned involvement” and the sliding scale fee structure to the ETF’s board in connection with its approval of the fund launch and of the management fee.

VanEck Violated Investment Company Act

Van Eck consented to the entry of the SEC’s order finding that it violated the Investment Company Act and Investment Advisers Act. The investment firm did not admit or deny the SEC’s findings and agreed to a cease-and-desist order and a censure in addition to the monetary penalty.

“Fund boards rely on advisers to provide accurate disclosures, especially when involving issues that can impact the advisory contract, known as the 15(c) process,” said Andrew Dean, co-chief of the Enforcement Division’s Asset Management Unit at the SEC.

“Van Eck Associates’ disclosure failures concerning this high-profile fund launch limited the board’s ability to consider the economic impact of the licensing arrangement and the involvement of a prominent social media influencer as it evaluated Van Eck Associates’ advisory contract for the fund,” added Dean.

Kim Kardashian Charged by the SEC 

In recent years, a handful of celebrities such as Kim Kardashian, Lindsay Lohan, Floyd Mayweather, Jake Paul and Matt Damon have promoted cryptocurrency projects and faced the wrath of the regulators in the United States.

There are many reasons why an increasing number of celebrities have been getting involved in the promotion of finance and crypto products. The most obvious is due to the lucrative financial opportunities. Another popular reason is publicity and branding which play a crucial role in a celebrity being relevant in today’s society.

Over the years, crypto and non-fungible tokens have experienced growth and just by associating themselves with cryptocurrencies can increase a celebrity’s visibility and appeal to a younger audience interested in digital assets.

VanEck Slashes Bitcoin ETF Fees Down to 0.20% 

Last week VanEck slashed its fees for the HODL exchange-traded fund (ETF), the VanEck Bitcoin Trust down to 0.20% from 0.25% as competition in the market heated up. Nearly a dozen Bitcoin ETFs are competing for investor attention in a saturated market.

BlackRock has set its fee for the iShares ETF at 0.12% for the first 12 months or until the first $5 billion in assets under management, after which it plans to increase it to 0.25%.

Other issuers, such as ARK Invest, charge 0.21%, and Bitwise charges 0.20%. Spot Bitcoin ETFs are increasingly the go-to choice for mainstream investors. They address issues like storing crypto assets and dealing with fraudulent service providers.

The post VanEck Fined by SEC for ETF Marketing Blunder appeared first on Cryptonews.

The reason for blocking the investment was due to, “divergent regulatory approaches in the EU.”

UCITS are open-ended investment funds and are a popular form of investment vehicle, especially for European retail investors. Currently, Ireland does not allow crypto investments in UCITS funds.

According to the report, the disclosure of the incident comes as European fund managers have been looking to hold exposure crypto assets in their funds. Unfortunately due to the “divergent regulations” in Europe have been unable to do so.

“The Commissioner in Ireland has been very clear about crypto investment vehicles such as ETFs and ETPs, they do not recognise Bitcoin or crypto as qualified [asset class] hence why today this still stands. We filed our first ETP filing with them back in 2015 under section 110 and this was rejected,”  Laurent Kssis, a crypto expert on trading and ETFs at CEC Capital told Cryptonews.

Jupiter is a UK-based fund management group, that manages equity and bond investments for private and institutional investors. The group has assets under management of $66.5 billion.

During press time a Jupiter Asset Management spokesperson was unavailable to comment further on the Financial Times report.

There was no regulatory intervention or impact on the fund, a Jupiter spokesperson told the publication. “The trade was made, picked up by our regular oversight process and then cancelled,” the spokesperson added.

UK Investors Have Dabbled in Crypto 

Back in 2021, the U.K.-based Ruffer Investment Management revealed it had made a $1.1 billion profit in five months from investing in Bitcoin.

Its Guernsey-based closed-ended fund, Ruffer Investment Company, had some exposure to bitcoin in 2020. Back then a Ruffer investment director said the firm sold its bitcoin because younger people would not be spending so much time trading now that the lockdowns are ending.

There are a vast array of products available in the European market. The main European crypto ETP providers include 21Shares, CoinShares, WisdomTree, VanEck, Valour, Invesco, Hashdex, ETC Group.

In January 2021, the FCA implemented a ban on the sale of derivatives and ETPs. The FCA said it considers the products to be ill-suited for retail consumers due to the potential harm they pose. Institutional investors (not retail) can access crypto products through Goldman Sachs, ICAP, JPMorgan, and UBS.

The post Jupiter’s Compliance Team Blocks Crypto ETP Investment: Report appeared first on Cryptonews.

In an announcement, Phoenix Group said sales experienced a surge of 20% year-on-year. The firm’s core hosting business saw year-on-year growth of 119% and its self-mining businesses experienced year-on-year growth of 480%.

Company results show that the Phoenix Group significantly increased the value of its total assets compared to 2022, from $229 million to $834 million in 2023.

Success Due to High-Net-Worth Partnerships

The UAE is an attractive destination for high-net-worth individuals (HNWIs) and Phoenix Group is pinning its success to strategic partnerships made in the region.

“This success stemmed from strategic partnerships with high-net-worth individuals, power supply companies, and mining equipment manufacturers, solidifying a foundation for continued growth in the coming years,” said Phoenix Group in a press release.

Phoenix Invests $187M in Bitmain BTC-Mining Machines 

In January, Phoenix Group announced it had successfully acquired mining equipment valued at $187 million from Bitmain Development PTI Limited. Phoenix Computer Equipment, a subsidiary of Phoenix Group, disclosed that the acquisition agreement was facilitated through Cypher Capital DMCC.

In December, Phoenix Group disclosed its partnership with Whatsminer. The agreement involved a $380-million deal to procure hydro cooling hardware equipment. This technology utilizes a closed-loop water system that preserves water volume and quality within pipes, enhancing heat transfer efficiency.

Continued Growth in 2024?

Phoenix Group said it is expecting continued growth in 2024, adding that investors can expect further positive developments in the coming months as the company plans to push for success outside of the UAE.

“Our success has been impressive, but 2024 promises to be truly transformative. With ambitious plans and an unwavering commitment to excellence, the group is poised to redefine success, not just in the UAE, but on a global scale,” said Seyed Mohammad Alizadehfard, the co-founder and CEO of Phoenix Group, in a press release.

Current State of Crypto Mining 

It seems the Bitcoin Halving is triggering mining acquisitions, reports Jimmy Aki from Cryptonews. As Bitcoin approaches its halving event scheduled for April 2024 – a crucial moment when mining rewards are halved – companies are intensifying their efforts to acquire advanced mining machines.

This strategic initiative is aimed at improving mining efficiency, boosting profitability, and solidifying their positions in the cryptocurrency mining sector.

Hive Digital Technologies, renowned for its expertise in data centre operations, recently secured 7,000 S21 Antminers from Bitmain on December 21, 2023.

The post Crypto Miner Phoenix Group Reports 50% Jump in Net Income appeared first on Cryptonews.

Balchunas posted a multi tweet thread on X crunching the numbers behind the newly launched Bitcoin investment products. BlackRock and Fidelity’s ETFs took first and second place respectively, attracting over $6 billion in funds since their launch on January 10.

Of course GBTC is a factor here and so I guess you could argue some of the Nine's aum is BYOA? Not enough tho for me to write any of this off as a lot of GBTC outflows were FTX and prop traders arbing the discount which is cash likely not destined for another btc ETF. I think the…

— Eric Balchunas (@EricBalchunas) February 8, 2024

That means the two have comfortably flipped all opposition from more stalwart ETFs like Invesco’s QQQ, which holds shares in the top non-financial publicly traded companies, the NASDAQ 100, a list that includes Apple, Google, Microsoft and Tesla.

Balchunas also explained that money poured into the Bitcoin funds every single day of the month. This is important to note, because the assets-under-management (AUM) metric can be misleading when a sole investor or a small group are responsible for all of the inflows.

Spot Bitcoin ETFs by Bitwise and Ark Invest also made the list, coming in 21st and 22nd respectively.

Grayscale already made ETF history

Grayscale’s GBTC, which is technically the largest ETF at $21 billion AUM, did not make the list because it had a decade-long headstart. GBTC started life as a Bitcoin fund in 2013, but it wasn’t until mid-2015 that shares began publicly trading under the ticker GBTC.

Since the US Securities and Exchange Commission approved the ETFs last month, Grayscale’s has been the only one posting outflows: $6 billion in fact. This is because for years the fund had been trading at a discount to its underlying asset, due to its closed-end structure. There were a fixed number of shares and no new ones could be created.

The closed-end structure evaporated along with the discount after GBTC converted to an ETF. Many holders exited their positions to pocket a tidy profit, including the estate of disgraced former crypto exchange FTX, which sold 22 million GBTC shares recently and may have raised a billion from it.

Still, if Wall Street is lapping up BlackRock and Fidelity’s Bitcoin ETFs today, it’s only because Grayscale made it possible.

Grayscale had created the Bitcoin Trust with an eye to its eventual conversion into an ETF. In 2022, the SEC refused its application. Grayscale took the matter to a Federal appeals court and on August 29, 2023, scored a landmark victory for the industry when Judge Neomi Rao overturned the SEC’s rejection, calling it “arbitrary and capricious.”

It may have been just another Tuesday in Washington, but it was a defining moment in crypto and ETF history.

The post ETF History Made: BlackRock and Fidelity’s Bitcoin Launches Become the Talk of Wall Street appeared first on Cryptonews.

The Markets in Crypto Assets Regulation (MiCA), due to take effect this year, is the European Union’s comprehensive crypto law. The legislation promises legal certainty, compliance challenges and global implications. MiCA’s primary goal will be to establish a unified rulebook for regulating crypto-asset markets.

London-based B2C2 said in a press release it has officially become the twelfth VASP to be registered on the Commission de Surveillance du Secteur Financier’s (CSSF) public register in Luxembourg.

VASP Perks 

According to the liquidity provider obtaining a VASP registration will allow B2C2 to offer over-the-counter spot crypto services to institutional clients. Other perks include collaborating with local VASPs, traditional financial institutions, and other market participants.

B2C2 said it has appointed Denzel Walters, to head up the  Luxembourg team as head of Luxembourg. Prior to the promotion, Walters was the Business Manager in B2C2’s London office. Walters has previously held positions at the Bank of England, Prudential Regulatory Authority, and Optima Partners.

B2C2 operates across the Americas, Asia-Pacific and EMEA regions. “As B2C2 prepares for MiCA regulation to come to force, obtaining VASP registration in Luxembourg is a further milestone for B2C2, as Luxembourg is home to a rapidly expanding virtual asset community,” said Thomas Restout, CEO of B2C2 in a press release.

In August, B2C2 acquired Paris-based rival firm Woorton in a bid to expand its European presence.

We are excited to announce @B2C2Group 's acquisition of Paris-based @woorton , the European leader in market making and OTC transactions in the crypto industry!

This is an exciting chapter for both B2C2 and Woorton.

Read the full announcement here: https://t.co/2rAaYMuHMC

— B2C2 (@B2C2Group) August 24, 2023

MiCA Feedback Window Open

In January, the European Securities and Markets Authority (ESMA), the top regulator of the European Union’s financial markets, opened a feedback window on guidelines under MiCA regulation.

Recently, Social media X has been abuzz with speculation on whether Proof-of-Work (PoW) consensus networks, like Bitcoin, may be banned in the European Union (EU) following the release of a draft assessment by the European Comission and the European Central Bank (ECB), writes Cryptonews reporter Jimmy Aki.

Daniel Batten, a managing partner at CH4 Capital, shared on his X (formerly Twitter) profile that the ECB and European Securities and Markets Authority (ESMA) were assigned to craft the report. In a screenshot Batten shared, the EU report presents an alarming assessment of Bitcoin and other PoW blockchain protocols.  Suggesting a possible ban on Bitcoin and its mining processes in the region, the analysis highlighted that they are environmentally harmful due to their high energy demands.

The post B2C2 Secures VASP Registration Ahead of MiCA Implementation appeared first on Cryptonews.