Company Name: Theya

Founders: Sriram Bhargav Karnati, Smeet Bhatt and Vikas Choudhary

Date Founded: December 2023

Location of Headquarters: San Francisco, CA

Amount of Bitcoin Held in Treasury: “It’s significant.”

Number of Employees: 7

Website: https://www.theya.us/

Public or Private? Private

Sriram Bhargav Karnati believes that top-notch security and usability are not mutually exclusive when it comes to managing your bitcoin.

So, he and his co-founders at Theya have built a multsig bitcoin vault — a mechanism that requires multiple participants to sign off on a Bitcoin transaction — that users can conveniently manage from their mobile devices.

“Our mission is to make self-custody…

Read more on BitcoinMagazine

Fidelity International has marked a significant milestone by introducing the Fidelity Physical Bitcoin Exchange Traded Product (ETP) on the London Stock Exchange. This new offering aims to mirror the price of Bitcoin, providing a physical backing and charging only a 0.35% ongoing fee. It joins a growing list of digital asset ETPs in the UK, following regulatory approval for crypto asset-backed products for professional investors.

The Financial Conduct Authority’s recent nod to Exchange Traded Notes (ETNs) dedicated to crypto assets has sparked increased activity. Following the U.S. approval of the first spot bitcoin ETFs, there’s a global surge in interest among investors for cryptocurrencies through regulated avenues. Fidelity’s ETP, also available on Deutsche Börse Xetra and the SIX Swiss Exchange since February 2022, underscores a secure and regulated approach to crypto investments.

Stefan Kuhn, Fidelity’s head of ETF & index distribution in Europe, celebrates this development as a pivotal step towards broadening cryptocurrency acceptance and access. He highlights the ETP as an institutional-quality route for professional investors, aiming to streamline and secure entry into the crypto market.

The cryptocurrency market is witnessing a notable increase in optimism, particularly surrounding the XRP Ledger (XRP) token. Recent data from blockchain intelligence platform Santiment highlights a substantial rise in the number of crypto wallets holding at least 10,000 XRP, now totaling 279,400. This figure marks a six-month high and represents significant participation from large-scale traders in the crypto ecosystem.

As of July 31, this surge in ‘shark’ and ‘whale’ wallets has been linked to positive forecasts for XRP’s future market value. Analysis by Santiment reveals a strong correlation between the increase in substantial wallet holders and the token’s price movements throughout 2024, underscoring a robust market sentiment.

This trend aligns with analysts’ bullish expectations and indicates a growing confidence among investors. As the number of large holders continues to climb, the potential for XRP’s price stabilization and growth looks increasingly promising, suggesting a vibrant recovery phase for the cryptocurrency sector.

M2, a leading cryptocurrency exchange, now enables UAE residents to seamlessly trade Bitcoin and Ether using their local bank accounts. This integration, hailed as a significant development by M2 CEO Stefan Kimmel, facilitates direct conversions between dirhams and popular cryptocurrencies on their spot markets. Kimmel emphasizes the ease of trading through familiar banking channels combined with M2’s robust security measures, enhancing user trust and compliance with stringent UAE regulations.

The move marks a pivotal expansion in M2’s offerings, reflecting the dynamic evolution of the cryptocurrency landscape in the MENA region. By allowing deposits and withdrawals in dirhams, M2 caters to a growing demand for accessible virtual asset trading, promising swift adaptation to market shifts and a simplified user experience for both institutional and retail clients.

Regulated by the Financial Services Regulatory Authority of the Abu Dhabi Global Market, M2 upholds the highest standards in financial operations, asserting the UAE’s position as a global leader in regulated and secure cryptocurrency transactions. This integration is a testament to M2’s commitment to bridging the gap between traditional finance and digital assets, reinforcing the wider accessibility and acceptance of cryptocurrencies in the region.