UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year

The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams from 2018–2019 the Financial Times reports on May 20.According to the data, which the FCA gathered from the U.K. national fraud and cybercrime reporting center,…

Samsung Invests $2.9 Million in Crypto Hardware Startup Ledger

news South Korean technology giant Samsung has invested 2.6 million euros ($2.9 million) into crypto hardware startup Ledger. The investment gives the startup a valuation of roughly $290 million, French business magazine Capital reported Wednesday. A spokesperson for Ledger confirmed that Samsung backed the startup, but could not confirm further details. A Samsung representative did not respond…

Arca Funds Files With SEC to Issue Stablecoin-Like Digitized Shares on ETH Blockchain

Arca Funds, an American institutional-grade investment manager, is seeking regulatory approval to issue digitized securities on blockchain, according to a filing document released on April 12.The company has filed with the United States Securities and Exchange Commission (SEC) to issue its Arca UST Coins — digitized shares that will be authenticated and then recorded in…

Old Meets Young: Pension Funds and Crypto Investment

news Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. _______ To the fanfare of vindication, the news dropped last week that two public…

Two Investment Firms Launch ETF Tracking Cloud Computing and Blockchain Companies

United States-based Investment management firm AdvisorShares and investments advisory company Sabretooth Advisors will jointly launch an exchange-traded fund (ETF) that tracks tech companies, including those involved with blockchain and cloud computing, MarketWatch reported on Feb. 6.ETFs are marketable securities that track a basket of assets proportionately represented in the fund’s shares. ETFs are offered on…

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states.The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to…

$20 Million Funding Round in Blockchain Firm Symbiont Includes Citigroup and Nasdaq

Citigroup and Nasdaq are among a group of firms investing $20 million dollars in Symbiont.io Inc, Bloomberg reports on Jan. 23. Other investors reportedly include Mike Novogratz’s crypto-focused merchant bank, Galaxy Digital Holdings.Symbiont’s blockchain and smart contract platform, Assembly, will be applied in capital markets. The offering purportedly allows financial institutions to share and verify…

Grayscale Assures Investors: Ethereum Classic Trust Funds Not at ‘Direct Risk’

feature In the wake of a 51 percent attack on ethereum classic (ETC), the manager of an investment vehicle that holds the cryptocurrency has been fielding inquiries from investors looking to understand if the underlying assets in the fund are safe, CoinDesk has learned. On Monday, the day after the reorganization of transactions on the…

Crypto Investment Platform Secures Seed Funding from Peter Thiel, Digital Currency Group

Venture capitalist and PayPal co-founder Peter Thiel has invested in cryptocurrency investment platform Layer1, according to a press release published Dec. 19.San Francisco-based Layer1 has concluded a $2.1 million seed funding round backed by such industry players as Thiel, crypto-focused venture capital company Digital Currency Group, and American investor and Protégé Partners founder Jeffrey Tarrant,…

Report: Traditional Investors Shift to Over-The-Counter Bitcoin Markets

In its recent analysis published Dec. 17, research firm Diar has found that institutional investors have shifted towards higher liquidity over-the-counter (OTC) physical Bitcoin (BTC) markets.Diar noted growing investment in OTC funds like that offered by major American cryptocurrency exchange Coinbase. According to the report, Coinbase outperformed Grayscale’s Bitcoin Investment Trust (GBTC) on OTC markets…