Edelman Financial Engines has disclosed a $34 million position in spot Bitcoin ETFs — a stake that now exceeds some of the firm’s other holdings in major tech companies. While the position is still tiny in the investment advisor’s portfolio, it is still larger than its $25 million position in Amazon. The position — held … Read more
Bitcoin is the most important asset in two of Abu Dhabi sovereign wealth funds, according to regulatory filings. Abu Dhabi’s Mubadala Investment Company disclosed Friday that it held a $490 million stake in BlackRock’s iShares Bitcoin Trust — the second-largest single holding across its entire 13F portfolio. And a Thursday filing from the Abu Dhabi … Read more
Bitcoin treasury Strategy has said it “doesn’t need” Morgan Stanley Capital International after the index provider said it could remove the Bitcoin company from its Global Investable Market Indexes. MSCI said in a consultation that it was consulting on a plan to define “Non-Operating Companies” and make them ineligible for its Global Investable Market Indexes … Read more
A $116 million hardware wallet exploit has reopened one of Bitcoin’s oldest debates: Is holding your own keys worth the risk? Days later, US spot Bitcoin ETFs recorded their strongest inflows since April, prompting Bloomberg analyst Eric Balchunas to wonder whether security scares could eventually push more investors away from self-custody and toward ETFs. Elsewhere, … Read more
Stablecoin giant Tether has announced that KPMG U.S. completed the first independent audit of its reserves after years of struggling to get a Big Four accounting firm to do so. The San Salvador-based company, which issues the largest stablecoin in existence, USDT, said the audit was “the largest inaugural financial audit in history.” Tether for … Read more
Crypto remains a marginal payment option among euro area businesses even as other forms of digital payments gain ground, according to a new European Central Bank (ECB) report. Just 0.2% of companies selling goods and services online accept crypto assets, the ECB said in its survey on companies’ cash use, published Thursday. Cash remains the … Read more
Crypto and prediction market bigwigs are set to gather at the White House next week, according to a Thursday report from POLITICO. The report, citing people with knowledge of the matter, said the industry officials would meet one day before the Commodity Futures Trading Commission holds a meeting for its new Innovation Advisory Committee. The … Read more
Something big is brewing in the cryptocurrency world. The U.S. Securities and Exchange Commission (SEC) has just filed documents that suggest a major crackdown on stablecoins is coming. This isn’t just a rumor; these are official filings that signal a shift in how regulators view these digital currencies. We need to pay close attention to … Read more
Figure Technology Solutions reported $4.3 billion in consumer loan marketplace volume for the second quarter, up 132% from a year earlier, as its quarterly profit nearly tripled. On Thursday, Figure said net income rose 192% year over year to $87 million, from about $30 million. Net revenue more than doubled to $226 million, while its … Read more
The City of Baltimore and its mayor, Brendan Scott, filed lawsuits against Kalshi and Polymarket over allegations that the companies violated local gambling laws. In a Thursday notice, the Baltimore mayor’s office said that the two prediction market companies operated “illegal, unlicensed sports-betting platforms” and misled users about the ”legality and regulatory status of their … Read more