Blockstream, a Bitcoin developer has secured a multibillion-dollar investment to launch three new institutional funds, including two that will enable lending Bitcoin.
Here are the updates from the crypto world
Blockstream, a Bitcoin developer has secured a multibillion-dollar investment to launch three new institutional funds, including two that will enable lending Bitcoin.
The firm stated on X on March 4, confirming an earlier Bloomberg report., that “Blockstream’s in stitutional-grade Bitcoin investment solutions will go live on April 1, with external capital acceptance opening on July 1.”
It added that the investment products will offer Bitcoin-backed lending and secure institutional financing with Bitcoin BTC$87,832 collateral, USD-collateralized borrowing enabling investors to unlock liquidity without selling Bitcoin, and hedge fund strategies offering institutional-grade exposure to Bitcoin markets.
The new asset management business was debuted by Blockstream in January, unveiling the Blockstream Income Fund and the Blockstream Alpha Fund.
The case against the Chicago-based Cumberland DRW will be dismissed by the US Securities and Exchange Commission, the crypto trading firm says.
In a post on X on March 4, Cumberland wrote, “Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW.”
The filing as per Cumberland was agreed in principle between Cumberland DRW and SEC staff on Feb. 20 and is currently awaiting the agency’s approval.
It’s the latest crypto-related lawsuit the SEC has agreed to drop. It has previously dropped cases against crypto exchanges Coinbase and Kraken, along with crypto firm Consensys.
The regulator has also recently announced it had dropped its investigation into non-fungible token (NFT) companies Yuga Labs and OpenSea, and crypto exchanges Gemini and Uniswap Labs.
Sygnum, a cryptocurrency banking firm, is partnering with crypto derivatives exchange Deribit to provide its off-exchange custody platform, Sygnum Protect.
The expansion of Sygnum Protect was officially announced by Sygnum on March 5. It will include its off-exchange custody platform, to include Deribit, one of the world’s largest derivatives exchanges in crypto.
This integration enables institutional Deribit traders to hold their assets in Sygnum’s institutional-grade custody while accessing Deribit’s broad trading offering and liquidity.
Deribit CEO Luuk Strijers said, “This integration provides institutional traders with both the capabilities and security assurances they require to trade any of Deribit’s leading products comfortably.”