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Cassa Depositi e Prestiti SpA (CDP) and Intesa Sanpaolo have completed Italy’s first digital bond issuance on the Polygon (MATIC) blockchain. The €25 million bond, with a 4-month duration and a 3.633% fixed annual coupon, marks a significant milestone in capital market innovation. This issuance is part of a European Central Bank (ECB) trial exploring blockchain for wholesale fiat money settlement.
Payment for the bond was made using the Bank of Italy’s TIPS Hash Link solution, bridging blockchains and traditional payment systems. Fabio Massoli, CDP’s Director of Admin and Finance, highlighted the importance of this transaction in adopting blockchain for bond issues, establishing a new technological model within the regulatory framework.
Global financial institutions are increasingly tokenizing traditional assets for operational benefits like cost-efficiency and transparency. BlackRock, the world’s largest asset manager, recently launched a digital liquidity fund. Niccolò Bardoscia of Intesa Sanpaolo emphasized that tokenization is setting a new standard for financial market efficiency, impacting all asset classes in the future.
Kraken, the cryptocurrency exchange, has extended its custody services to institutional clients in the UK and Australia. This move marks the first international expansion of the service, which launched in the US earlier this year to manage digital assets securely. Kraken Custody offers advanced security protocols and access controls, integrated into Kraken’s product suite to support institutional crypto investment strategies.
Kraken Custody allows institutions to effectively manage and scale their crypto strategies. Operated through Kraken Financial, a US-based state-chartered bank, it ensures clients’ digital assets are held separately from the Kraken exchange. Tim Ogilvie, Head of Kraken Institutional, emphasized the importance of custody in the institutional crypto space, particularly after the success of Bitcoin ETFs, highlighting Kraken’s 12+ years of asset safeguarding experience.
Additionally, Kraken launched Kraken Institutional to meet increased demand, offering a range of products and services tailored for institutional investors, asset managers, and hedge funds. Kraken also operates Kraken Wallet, a self-custodial wallet designed to facilitate secure and simple on-chain transactions, enhancing access to decentralized finance.
WazirX Vice President Rajagopal Menon on Thursday described as a “force majeure event beyond our control,” the cyber attack on one of its multisignature wallets resulted in a loss exceeding $230 million.
What Happened: In statement to Benzinga, Menon stated that the attack targeted a multisig wallet that had been utilizing Liminal’s digital asset custody and wallet infrastructure since February 2023.
The wallet’s security setup included six signatories – five from WazirX and one from Liminal – with transactions requiring approval from three WazirX signatories and a final approval from Liminal.
“Despite robust security features, including the Gnosis Safe multisig smart contract…
Read more on Benzinga
WazirX, a Mumbai-based cryptocurrency exchange, has confirmed a significant security breach resulting in the theft of over $235 million from one of its multisig wallets.
The incident, which occurred early Thursday morning, has led to an immediate halt in Indian rupee withdrawals as the company investigates. Crypto withdrawals were already suspended at the time of the incident, according to multiple customers of the exchange reached via Telegram.
In a statement posted on X, WazirX acknowledged the breach, calling it “a force majeure event beyond our control, but we are leaving no stone unturned to locate and recover the funds.”
Security and blockchain monitoring services identified…
Read more on Blockworks
Cipher Mining Inc. is exploring a potential sale after receiving takeover interest, as the booming demand for data centers makes Bitcoin miners attractive acquisition targets. The US-based company is working with advisers to gauge buyer interest, though deliberations are in the early stages. On Wednesday, Cipher’s shares surged by 18%, settling at a 2.8% increase by 10:41 a.m. in New York, valuing the company at approximately $2.2 billion.
The AI boom has caused an unprecedented shortage of data center space, leading AI firms to target crypto-mining companies for their existing infrastructure. This trend highlights the strategic importance of crypto miners in the evolving tech landscape. Cipher Mining, however, has not confirmed if it will proceed with a sale.
In a similar move, CoreWeave Inc. recently offered to acquire Bitcoin miner Core Scientific Inc. for around $1 billion. Meanwhile, Northern Data AG, another crypto miner-turned high-performance computing provider, is considering a US listing valued at up to $16 billion.
Bitcoin changes our lives.
It’s an almost spiritual observation that we’ve all seen within ourselves. After acquiring some, learning how it works, and to various degrees delving into what this decentralized, uncensorable, proof-of-work money is, we’ve seen our lives change. It echoes history. Some people see god in it.
Bitcoiners have had their lives upended, their perspectives shifted, and their value systems altered. We see how our behavior changed from our pre-Bitcoin selves, our emphasis now squarely placed on real things, hard things, the long term, and the local. We look to our inner selves, and we look after ourselves. We see to our families. We set our own house in order…
Read more on BitcoinMagazine
As of July 18, 2024, U.S. Bitcoin ETFs have amassed significant holdings, with a combined total of 899,289 BTC, valued at approximately $57.3 billion. The net inflow for the day stands at 2,194 BTC, worth around $139 million.
BlackRock leads with 323,833 BTC and a net inflow of 1,708 BTC. Fidelity follows with 178,547 BTC and an inflow of 44 BTC. Other notable players include VanEck, which saw an inflow of 339 BTC, and Invesco Galaxy, with an inflow of 207 BTC.
Grayscale holds 273,005 BTC but experienced a minor outflow of 11 BTC, while Bitwise, with 39,835 BTC, saw an outflow of 93 BTC. ARK Invest, Valkyrie, and Franklin Templeton reported no net changes in their holdings.
The dynamic movement within the Bitcoin ETF market highlights investor confidence and the growing integration of Bitcoin into mainstream investment portfolios. The overall positive net inflow reflects strong interest and continued investment in Bitcoin, positioning it as a key asset.
Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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