A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF). 

The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a new brokerage firm called Digital Prime Technologies.

In a Nov. 7 statement, Tokenet said it will allow firms to borrow and lend digital assets while managing collateral positions. The platform also offers risk management tools which allow institutions to mitigate counterparty risks as they would in traditional finance.

Digital Prime…

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Bitcoin (BTC) mining heavyweights Marathon Digital and Riot Platforms are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud.

The key metric backing Mellerud’s claim is enterprise value-to-sales ratio — measuring a company’s value to its sales revenue. The higher the ratio, the more overvalued a company is.

The miners with the highest EV/S ratios are Cipher at 7.8, Marathon and Iris Energy each at 5.6 and Riot at 5.5, according to a Nov. 3 report by Mellerud.

Mining stocks valuation in terms of EV-to-Sales ratio. Source: MinerMetrics

Mellerud attributed the heavyweight’s high EV/S ratios to receiving more…

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The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoins, Wintermute founder and CEO Evgeny Gaevoy has claimed.

In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth of its stablecoin USN for the FTX estate.

3. Summary

To reiterate, I see this situation very clearly as:

– NF committed to backstop USN and earmarked money for it- Aurora accepted the redemption in August (and only last week backtracked on it)- NF decided they have the power to keep the $11M to themselves instead of…

— wishful cynic (@EvgenyGaevoy) November 7, 2023

Gaevoy said Wintermute was working…

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Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark. 

Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a Bitcoin spot exchange-traded fund (ETF) in the United States.

Investors worry about the bearish global economic outlook

Bears expect further macroeconomic data supporting a global economic contraction as the U.S. Federal Reserve holds their interest rate above 5.25% in order to curb inflation. For instance, on Nov. 6, China exports shrank 6.4% from a year earlier in October. Furthermore,…

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On the Cosmos-based EVM chain Evmos, Cosmos transactions and Ethereum transactions have been operating under different standards, leading to complications as these two types of transactions struggle to decode each other effectively.

Evmos plans to relieve this technical headache by only supporting Ethereum-formatted transactions by 2024 Q3, it announced in a blog post Tuesday. Despite this strategic shift, the protocol emphasized that Evmos is not exiting the Cosmos ecosystem. Additionally, Evmos’ founder suggested that the move could help bring Ethereum developers to the IBC.

Evmos functions as an Ethereum Virtual Machine (EVM) compatible blockchain that integrates the Cosmos IBC…

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US financial leaders are taking a hard look at crypto, from both a regulatory and innovative perspective. 

Among the arguments being made today: The Federal Reserve needs to step up its oversight of the stablecoin ecosystem, and the Office of the Comptroller of the Currency — which oversees the American banking system — could benefit from increased tokenization, officials said Tuesday at the DC Fintech Week event in Washington. 

“It’s really important for us to learn about new technology all the time,” said Michael Barr, the Fed’s Vice Chair for supervision. “There’s obviously a lot of innovation happening in the private sector around stablecoins and we want to make…

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Google’s testing a pair of experimental artificial intelligence (AI) systems for creators and viewers on its YouTube video sharing platform. 

The first experiment, according to a post on YouTube Help, involves an “AI that organizes large comment sections of long-form videos into easily digestible themes.” This tool will allow content creators to organize their comment sections by topic, highlight specific comments, and even delete comments related to a given topic.

This experiment is currently active and “running on a small number of videos in English that have large comment sections.” YouTube Premium subscribers can opt in as part of YouTube’s experimental features program….

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Last year, two-time Grammy award-winning music producer Ramon “Illmind” Ibanga Jr. shared his insights on the intersection of music and technology at Benzinga’s Future of Digital Assets event. See below.

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our Nov. 13 Fintech Deal Day and Nov. 14 Future of Digital Assets. Secure a spot here to join them!

This year, the event is once again poised to be a significant convergence for digital asset companies and institutional investors. Secure your spot today and enjoy an exclusive 20% discount.

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