Crypto Financial Services Firm Flowdesk Becomes Market Maker for Forge’s Euro Stablecoin EURCV
Flowdesk, a French encrypted financial service company, announced that it has been appointed by Forge, a subsidiary of Societe Generale, as the new market maker for the Euro stablecoin EUR CoinVertible (EURCV). Flowdesk will be responsible for providing liquidity for EURCV-EUR and EURCV-USDT trading pairs on Bitstamp and other platforms, and is one of the selected entities authorized by SG-FORGE to trade EURCV.
Crypto mining company Phoenix Group completed a US$371 million IPO on the Abu Dhabi Stock Exchange, and its stock price rose 50% that day
On December 5th, Phoenix Group, a cryptocurrency mining company, completed a $371 million IPO on the Abu Dhabi Securities Exchange (ADX) and rose 50% on the same day. The IPO attracted $12 billion in funding, oversubscribed by 33 times. In addition, it was reported that International Holding Co., the largest enterprise group in Abu Dhabi controlled by important members of the UAE royal family, purchased 10% of Phoenix's shares in early October.
Crypto trading platform Archax will launch trading pairs for Abrdn money market fund and Bitcoin early next year
On December 4th, asset management company abrdn announced a partnership with cryptocurrency trading platform Archax, aiming to tokenize traditional finance (TradFi) assets and strive for a leading position in this emerging field. They plan to develop a regulatory framework for tokenizing and trading various assets. This move marks the integration of traditional finance and blockchain technology, which may completely change the way assets are processed and traded.<br>Early next year, Archax will launch trading pairs for abrdn Money Market Fund (MMF) tokens and Bitcoin (BTC). In other words, users can exchange Bitcoin for US dollar MMF tokens, instead of exchanging BTC for US dollars or USDC. The obvious next step (although the company has not yet publicly discussed this) is to use MMF ownership tokens as collateral.<br>As previously reported by BlockBeats, in November last year, digital asset trading platform Archax completed a $28.5 million Series A financing round, led by abrdn.
Dragonfly transferred approximately $12.63 million worth of crypto assets to Coinbase Prime 5 hours ago
Dragonfly Capital transferred 21,079,914 RBN tokens (worth $7.67 million), 1,870,37 LDO tokens (worth $4.63 million), and 150 ETH tokens (worth $330,000) to Coinbase Prime. The RBN tokens were unlocked from a Ribbon Finance contract 5 hours ago, while the LDO tokens were purchased from the Lido treasury on May 7, 2021, using 404 ETH tokens (worth $1.4 million) at a price of $0.75 per token.
Shopify COO: Crypto work at Shopify is one of the best jobs out there
Kaz Nejatian, the Vice President of Product and Chief Operating Officer at Shopify, stated in a personal tweet that the encryption work being done at Shopify is one of their best efforts to date. In a few years, people will be amazed at how quickly we acted, but that is because of the work we are currently doing.
The amount of financing in the crypto market in November was US$1.2 billion, a month-on-month increase of 178.4%
According to RootData, on December 1st, BlockBeats reported that the funding amount for the cryptocurrency market in November 2023 was $1.2 billion, a 5.1% decrease compared to November 2022 ($1.265 billion), but a 178.4% increase compared to October 2023 ($431 million). In addition, the number of funding deals in November was 92, a 13.2% decrease year-on-year.
Continue partner Pima: AI Agent may give birth to a number of billion-dollar companies in Crypto
Continue Capital partner Pima posted on social media X, stating that the productivity revolution of AI, which occurs once every hundred years, cannot be compared or resisted by the production relationship revolution of Blockchain, and will have an impact on various industries in the future. Therefore, our proposition is: how will AI transform or influence the Crypto field? AI agents may also give rise to a group of billion-dollar companies in the Crypto industry.
Swiss crypto bank Seba announces name change to Amina
Swiss crypto bank Seba Bank AG has officially been renamed Amina Bank AG, with SEB Bank and SEBA Bank both agreeing to the name change in 2023. The company stated that the new name Amina comes from the word "amino transfer," meaning the transfer of a compound to another compound, referring to its mission of combining various elements of traditional, digital, and crypto banking. Existing clients of Amina Bank (formerly Seba Bank) will not be affected by the rebranding as all operations will continue as usual. In early November 2023, Seba obtained a license from the Hong Kong Securities and Futures Commission to offer crypto trading services in the region. In 2022, Seba also received a financial services license for the Abu Dhabi Global Market and opened an office in Abu Dhabi.
U.S. Crypto Legislation Faces Uphill Battle in Republican-Controlled House, Key Lawmakers Target 2024
Efforts to pass US crypto legislation through the House of Representatives this year have been delayed until 2024 due to the recent fight over installing a new speaker. The legislation still faces an uphill battle in the Senate, which is controlled by Democrats. However, success in the House may move the Senate to approve the bills. The House Financial Services Committee is focusing on two major crypto bills, one to regulate US stablecoin issuers and another to form a broad system of rules for crypto markets. Passing the bills may require attaching them to must-move legislation, such as a spending bill.
SEC Commissioner: Many enforcement cases initiated by the SEC seem to have no rhyme or reason
Hester Peirce, a commissioner of the US Securities and Exchange Commission (SEC), said at an industry conference that many of the enforcement cases initiated by the SEC seem to have no rhyme or reason. In 2023, the SEC will increase its enforcement actions related to securities issuance by 48%, one of which is the case against NFT issuer Stoner Cats 2 LLC, and Peirce said, "I don't think its primary goal is to prevent people from buying Stoner Cats." When asked about her views on the "outcome" of the SEC's work in the crypto space, Peirce did not give a clear answer, saying, "We need to stick to the authority given to us by Congress, rather than go beyond that scope."
