The latest moves in crypto markets, in context By Lyllah Ledesma, CoinDesk reporter Was this newsletter forwarded to you? Sign up here. |
|
|
Happy Wednesday! Here’s what you need to know today in crypto: |
- HSBC is tokenizing gold for retail investors in Hong Kong.
- Galaxy Digital reported net income of $302 million for the fourth quarter of 2023.
- El Salvador continues to increase its bitcoin holdings.
|
|
|
CoinDesk 20 Index: 2,665 −2.6%
Bitcoin (BTC): $70,003 −1.6%
Ether (ETC): $3,568 −2.6%
S&P 500: 5,203.58 −0.3%
Gold: $2,211 +1.6%
Nikkei 225: $2,211 +1.6% |
|
|
Financial powerhouse HSBC (HSBA) is tokenizing gold for everyday investors in Hong Kong and claiming bragging rights as the first bank to create a blockchain-based real-world asset aimed at the retail marketplace. The HSBC Gold Token, minted on the bank’s Orion digital assets platform, is available via HSBC Online Banking and HSBC HK Mobile App, the bank said in a press release on Wednesday. Banks and financial institutions are bringing a range of real-world assets (RWA) onto blockchains, both private ledgers and public networks like Ethereum, in a process known as tokenization. |
HSBC's building in Hong Kong. (Christian Mueller/Shutterstock) |
Galaxy Digital (GLXY), the crypto financial services firm headed by Michael Novogratz, had a strong end to 2023 with solid operating results across its diversified business, broker Canaccord Genuity said in a research report on Wednesday. Canaccord notes that while the fourth quarter was solid, commentary about the performance of the Toronto-listed business through the end of February was even better. Positive highlights include an almost doubling of assets under management (AUM) from year-end to more than $10 billion, equity capital growing to over $2.1 billion versus about $1.5 billion at the end of the third quarter, and quarter-to-date income before tax of around $300 million, the report said. El Salvador, the nation that made bitcoin legal tender in 2021, continues to increase its bitcoin (BTC) holdings. The country’s president, Nayib Bukele, said on Monday that the nation now owns 5,700 bitcoin versus mid-March's roughly 5,690. At bitcoin's current price just above $70,000, El Salvador's bitcoin stack is worth more than $400 million. Bukele earlier this month said the country's bitcoin holdings had been moved to cold storage and published the address of its bitcoin wallet. That wallet showed just under 5,690 BTC, significantly more than the amount public trackers of El Salvador's holdings had estimated. |
|
|
Consensus is the biggest and most established hub for everything crypto, blockchain and Web3. Join us at the 10th annual Consensus May 29-31 in Austin, Texas for dialogue, discovery and dealmaking alongside developers, investors, startups, executives and more. Save 15% with code FM15. Grab your pass. |
|
|
Market Insight: Layer-1 Peaq Raises $15M to Expand Its DePIN Ecosystem |
Layer-1 blockchain Peaq said it raised $15 million in funding to expand its ecosystem of decentralized physical infrastructure (DePIN) networks. The funding round, led by Generative Ventures and Bordless Capital and featuring participation from Spartan Group, CMCC Global and Animoca Brands, comes ahead of the blockchain's mainnet launch and listing of the PEAQ token. DePIN refers to using blockchain technology and token incentives to build physical infrastructure networks so other projects don't need to buy and run their own equipment. |
|
|
Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. |
|
|
|
