private equity firms
FDIC Requires Potential Buyers of Failed U.S. Banks to Give Up Crypto Services
The FDIC has asked banks interested in acquiring failed U.S. lenders, Silicon Valley Bank and Signature Bank, to submit bids by March 17. The authority will only accept bids from banks with an existing bank charter, prioritizing traditional lenders over private equity firms. The FDIC has also required any buyer of Signature to agree to give up all cryptocurrency business at the bank. This news comes amid concerns expressed by U.S. Representative Tom Emmer that the federal government is “weaponizing” issues around the banking industry to go after crypto.
Goldman Sachs and Citigroup Perform the First Equity Swap on Blockchain
Traditional equity swaps have to be continuously updated for multiple variables. These include different interest rates, end-of-day market prices, and corporate actions like stock splits and dividend payments. Financial institutions need to hire many people to verify the process until the swap completion, which in some rare cases, could take months.
Private Firms Can Boost Innovation of Central Bank Digital Currency, says IMF
A synthetic Central bank digital currency (CBDC) could create new pathways for innovation according to a senior member of the International Monetary Fund (IMF).
Over 30 Japanese Firms to Conduct Digital Yen Pilot Test
Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.
Microsoft President Says Fintech Firms Should Leave the Role of Issuing Digital Currencies to Governments
Microsoft President Brad Smith has criticized financial technology firms attempting to issue currencies, stating that governments are still best suited to play this role.
MicroStrategy CEO Says the Software Firm Is Considering Equity or Debt Financing to Purchase More Bitcoins
MicroStrategy CEO Michael Saylor has said that he is considering issuing more debt to enable the company to buy more Bitcoins. He stated that it makes sense to purchase as much of the asset class as they can.
Bitcoin Could Rally Towards $75,000 “Very Quickly,” says Equity Strategist
Matt Maley, the equity strategist at leading institutional trading firm Miller Tabak + Co, believes Bitcoin could rally towards $75,000 “very quickly” based on some chart patterns.
Ripple Invests in MoneyGram Equity Honoring Commitment to Accelerate and Expand On-Demand Liquidity
MoneyGram has announced that Ripple has made the final 20 million dollar investment in MoneyGram equity pursuant to the original $50 million equity investment commitment made earlier this year.
Thailand SEC Revises its Net Capital Rules In Favor of Crypto Backed Firms
Thailand’s Securities and Exchange Commission has made an upward review of its net capital requirement for the securities firm in the country with crypto ties.
Crypto Wallet and Data Giant Reported to Raise $50M Funding Round
According to a report by Yahoo Finance, Blockchain is raising a VC fund to invest in both equity and crypto coins.
Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project
Singapore’s state investor, Temasek Holdings has officially been named a member of the Facebook-backed digital currency project Libra. Temasek as a portfolio value of 313 billion Singapore dollars (roughly $219 billion), making it one of the more prominent backers of Libra. The Libra Association, an independent group based in Switzerland has also welcomed crypto investor Paradigm and Slow Ventures, a private equity firm.
New York-Based Power Plant Greenidge Generation Mines $50,000 Worth of Bitcoin on a Daily Basis
Greenidge’s 65,000-square-foot facility was initially built in 1937 as a coal plant before eventually being closed down in 2011. The plant remained dormant for five years before Atlas Holdings, Connecticut-based private equity company, converted it into a natural gas plant in 2016 to generate clean energy. Because of the high power that crypto mining machines use in their operations, countries have initiated stricter measures to discourage miners from conducting their mining activities. Some of these measures involve increased electricity fees, which have compelled most miners to move to other cities with favorable electricity billing.
First Private Bank Joins Turkish Digital Asset Blockchain Network
Garanti BBVA, the second-largest private bank in Turkey with $104 billion of consolidated assets has confirmed that it will be the first and only private bank joining the Turkish Digital Asset Blockchain Network.