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India to Release Its Crypto Policy Stance by September After Stakeholder Consultations: Report
India plans to put out a discussion paper outlining its policy stance on cryptocurrencies before September, according to Indian news outlet Moneycontrol citing an interview with Senior Finance Ministry Official Ajay Seth.
The Evolving Efficiency of Bitcoin Markets
Low liquidity, regulatory uncertainty and speculative behavior contributes to inefficiency in crypto markets. But systematic approaches, including momentum indexes, can reduce risks to investors, says Gregory Mall, head of investment solutions at AMINA Bank.
Coinbase Asset Management Plans Tokenized Money-Market Fund, a Hot Area After BlackRock's BUIDL Success: Sources
The asset management arm of U.S.-listed cryptocurrency exchange Coinbase (COIN) is creating a tokenized money-market fund, jumping into one of the hottest crypto-powered corners of finance, according to four people familiar with the plan. Tokenization, or representing ownership of real-world assets (RWAs) through blockchain-based products, has become one of the big trends in crypto of late. BlackRock, the world's biggest asset manager, introduced a fund called BUIDL that holds U.S. Treasuries. That fund quickly hit $500 million of assets following its introduction in March. For investors, tokenized funds provide numerous potential benefits, including the transparency provided by blockchain-linked assets and the possibility of greater liquidity. For issuers, there are efficiency gains. For Coinbase Asset Management specifically, this would represent an expansion of the company's already publicly known attempt to break into the tokenization space. In December, the company received in-principle approval from an Abu Dhabi regulator to start tokenizing traditional assets on Base, the exchange's Ethereum scaling network.
Bitcoin Rewards App Fold Eyes Nasdaq Listing Via $365M SPAC Deal
Bitcoin rewards app Fold is planning a public listing on Nasdaq through a merger with special-purpose acquisition company (SPAC) Emerald Acquisition Corp. (EMLD). New York-based Fold offers a cashback debit card which provides bitcoin rewards instead of traditional rewards one would expect from other related products. Fold's cards have processed over $2 billion in volume and distributed more than $45 million worth of rewards, according to an announcement on Wednesday. The transaction, which has been unanimously approved by the boards of both firms, will have a pre-money equity valuation of $365 million. The post-transaction entity will also have more than 1,000 BTC ($67 million) on its balance sheet. Fold has not yet disclosed the expected closing of the merger nor the ticker it will trader under on Nasdaq.
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