Brazilian Asset Manager Hashdex Appoints Laurent Kssis as Managing Director

Hashdex, a fintech investment management firm based in Brazil, announced Tuesday the appointment of Laurent Kssis as Managing Director and Head of Europe.

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In the new role, Mr. Kssis is expected to accelerate Hashdex’s European expansion as part of the company’s ongoing commitment to help investors across the globe better understand and gain diversified exposure to the crypto asset class.

Hashdex said Mr. Kssis brings an extensive experience in crypto asset and European crypto exchange-traded fund (“ETFs”) management practices to the company.

Mostly recently, Mr. Kssis served as Managing Director and Global Head of ETPs at Swiss issuer 21Shares. He managed the listing of more than 25 crypto ETPs across several European regulated exchanges. He also served on the issuer’s board of directors, where his presence was valuable in developing and pushing for innovative single tracker product launches for its European expansion.

Before joining 21Shares, Kssis worked as the CEO of the Swedish based crypto issuer XBT Provider AB, nowadays popularly known as CoinShares company. Prior to that, Mr. Kssis acquired over 15 years of experience in managing ETFs as well as professional experience in leading major companies, including Labranche, Bluefin, and Societe Generale.

Mr. Kssis was also actively involved in the primary and secondary capital markets, where he served several European ETF issuers, including Lyxor and IndeXchange (now Blackrock). In 2015, he led Coinsilium group in becoming the first blockchain venture company to IPO on the UK stock exchange, where he was subsequently appointed Non-Executive Chairman. Recently, Mr. Kssis stepped down as a board member of Swedish Index Provider Vinter Co after three years of service.

Marcelo Sampaio, Co-Founder & CEO of Hashdex, talked about Kssis appointment and said: “His (Kssis) background in crypto exchange-traded products, particularly in Switzerland – which has become the leading venue for listing crypto ETPs – will be invaluable in supporting Hashdex…We are honoured to have him join our team.”

Bridging Traditional Finance with Digital Asset Solutions

Early this month, Hashdex launched and listed Web3 ETF on the Brazilian stock exchange, B3, to serve the growing investor demand for regulated exposure to crypto ETFs. Hashdex developed the crypto ETF to provide a diversified method for investing in Web3.

In January, Hashdex launched a decentralized finance ETF (DEFI11) that provides institutional and individual investors with diversified, safe, and regulated exposure to all DeFi ecosystem value chain segments. The DeFi ETF enables investors to invest in DeFi assets such as Unisawap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP.

Last February, Hashdex launched the world’s first crypto exchange-traded fund (ETF) that enables over 250,000 investors to add cryptocurrency to their portfolios. The Hashdex Nasdaq Crypto Index ETF is available for trading on the Bermuda Stock Exchange (BSX) for accredited non-U.S. institutional investors to gain exposure to the crypto market.

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Chainlink Labs Appoints Diem CTO Dahlia Malkhi as CRO

Chainlink Labs, a US-based operator of an online contract management platform, announced Tuesday the appointment of Dr. Dahlia Malkhi, former Diem Association Chief Technology Officer, as its Chief Research Officer.

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In her new role, Malkh will manage Chainlink’s data science and advanced analytics departments and help support the growth of the data oracle network.

Dr. Malkhi joins Chainlink Labs from the Diem Association, where she was the Chief Technology Officer, lead maintainer and lead researcher at Novi. Before working at Diem, Dr. Malkhi co-founded VMware Research where she served as a principal researcher and spent more than ten years at Microsoft Research. Besides that, Dr. Malkhi served as a tenured associate professor of computer science at the Hebrew University of Jerusalem. She has authored over 100 publications with contributions to wide aspects of the security and reliability of distributed systems.

Sergey Nazarov, CEO of Chainlink Labs, commented about Malkhi’s appointment and said: “As Chainlink Labs continues to build the secure infrastructure necessary to increase Web3 adoption and create a world powered by cryptographic truth, we are breaking new ground in the areas of cryptography and mathematics and need the best and brightest minds to join us in solving some of the world’s hardest problems. Dahlia is one of the foremost experts on decentralized systems consensus, a critical factor in ensuring security, scalability, and performance across the blockchain ecosystem, making her an ideal addition to the Chainlink Labs research team.”

Leveraging Blockchain for Businesses and Enterprise Apps

The latest hiring is part of Chainlink’s recent appointments to ensure its business growth. Late last year, Chainlink hired Mike Derezin, former Vice President at LinkedIn, as its Chief Operating Officer. Also, in December last year, Eric Schmidt, the former Google CEO, joined Chainlink Labs as a Strategic Advisor, to help Chainlink Labs — the developer behind blockchain oracle solution provider Chainlink — to achieve its multi-chain interoperability goals.

In May last year, Chainlink joined the Hedera governing council, a group of diverse organizations responsible for stewarding the Hedera network (a decentralized public network where anyone can build applications). Most of the existing council members are large firms such as Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, EDF, eftpos, FIS, Google, IBM, LG, Magalu, Nomura, Shinhan Bank, Standard Bank, Swirlds, Tata Communications, UCL, WIPRO and Zain. 

Joining the Hedera Governing Council made Chainlink the default oracle provider for enterprise applications. In a centralized world, software programs typically use external feeds for data like stock prices or exchange rates. In the decentralized world, blockchains use oracles, which are similar to feeds. Chainlink provides decentralized oracles and connects smart contracts to a wide range of off-chain data sources and computations, such as asset prices, IoT devices, web APIs, payment systems, and many more. 

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West Ham United Inks Deal with Fetch.ai, Harnessing the Power of AI & Blockchain

West Ham United, one of the top football clubs in the English Premier League (EPL), has selected Fetch.ai as its official artificial intelligence partner for the women’s and men’s teams.

As artificial intelligence (AI) and machine learning-based blockchain platform, Fetch.ai will improve business and day-to-day activities at West Ham United. 

For instance, by using digital twins or autonomous economic agents availed by Fetch.ai, the West Ham United fraternity will have the opportunity to eliminate intermediaries by gaining full control of their digital interactions like booking a hotel, making travel arrangements, and social media.

Nathan Thompson, West Ham United’s chief commercial officer, welcomed the partnership and stated:

“We are delighted to announce our first Official Artificial Intelligence Partner and welcome Fetch.ai to the club at an exciting time for the business, and the industry. We’re looking forward to working with Fetch.ai on their smart parking concept, social media platform and upcoming projects that will provide smart solutions for fans.”

Fetch.ai will also assist in promoting the West Ham United brand across the club’s fast-growing international channels and on the LED perimeter advertising platform at the London stadium.

Humayun Sheikh, the CEO and founder of Fetch.ai, noted:

“We are proud to be partnering with West Ham United. We’re very excited about bringing forth our AI solutions in new and creative ways to power the future of world class Premier League football, entertainment and technology for fans in the UK and around the world.”

Sitting among the top-ten clubs in the EPL, the top tier of English football, West Ham United seeks to enrich fans’ experience through AI and blockchain solutions provided by Fetch.ai.

Meanwhile, Fetch.ai recently partnered with Resonate, a decentralized social non-fungible token (NFT) platform, to offer users a personal AI-powered, decentralized, and trusted social media experience. 

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Robinhood’s Top Crypto Executive Announces Departure

Crypto executive Christine Brown, who was overseeing Robinhood’s cryptocurrency initiatives is leaving the brokerage firm, she confirmed via her Twitter account.

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Brown had spent five years at the company after leaving Google in 2017.

“After 5 amazing years at RobinhoodApp, I’m moving on to start something new,” Brown tweeted.

According to a source familiar with the matter, Brown is starting a crypto startup. However, further details about her company are yet to be revealed. “As for what’s next, I’m excited to be staying in the crypto space—more from me soon!” Brown said in her Twitter thread.

“I joined RH (short for Robinhood) when it was under 100 people — before we even offered a crypto product. Watching us grow through IPO and serving more than 22 million users has been the greatest professional experience of my life,” her tweet continued.

At Robinhood, she helped build a “self-clearing firm, standing up a Product Operations team, and supporting scaling crypto business.”

Robinhood’s chief operating officer Gretchen Howard further confirmed her departure in a statement with The Block saying “We’re so grateful to Christine for her contributions to Robinhood over the past five years – from leading our self-clearing initiative to scaling the Robinhood Crypto team. We’re excited to follow her entrepreneurial journey going forward.”

Meanwhile, two other ex-Robinhood employees have launched Atlantic Money, a money transfer service, to solve challenges that suers experience while transferring money globally, Blockchain.News reported.

Neeraj Baid and Patrick Kavanagh describe Atlantic Money as the world’s first fixed-fee money transfer service that promises to be a better deal than other foreign exchange (FX) services and pitch itself as a second-generation challenger to Wise, PayPal, and Revolut, the report added.

The Block reported that Robinhood first began providing crypto services in 2018. However, the company has seen a decline in its crypto activity in the last quarter of 2021, even though the excitement surrounding the crypto industry helped Robinhood gather more users.

In January, Robinhood’s crypto wallet went live and allowed its first 1,000 users to make crypto withdrawals, Blockchain.News reported. While in November last year, Robinhood Markets had announced that 1.6 million people were on the waitlist for its cryptocurrency wallet.

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OpenSea Signals Integration of Solana NFTs by April

Solana’s non-fungible tokens (NFTs) will be available for buying and selling on OpenSea’s website by April. The company signalled via a video on Twitter.

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The launch date, however, is yet to be revealed. Following Ethereum (ETH), Polygon (MATIC) and Klaytn (KLAY), Solana will become the fourth blockchain that OpenSea will support.

Currently, Solana users can only trade NFTs on Magic Eden, Solanart and SolSea, but the largest marketplace for NFTs will be open as a new avenue for trading next month.

Transactions in OpenSea largely happen on Ethereum.

OpenSea successfully raised $300 million in a funding round earlier this year which took its valuation to $13 billion. Crypto VC Paradigm was among the backers, and the fund was launched by Katie Haun, a former general partner at a16z.

The NFT marketplace has also launched a venture program of its own. The idea behind it is to invest in startups and projects involved in NFTs.  

In February, OpenSea moved to launch a venture program of its own, with the idea of investing in startups and projects within the NFT ecosystem. Social and gaming-focused projects are also being planned by the firm.

Blockchain.News reported in January that for the first time, monthly NFT trading volume breached the $4 billion level on OpenSea, according to data from market insight provider Dune Analytics.

It represented a 20% surge from the previous high of $3.4 billion hit in August 2021. Furthermore, the report added that the total sales in this market reached $25 billion in 2021. 

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Vietnamese Government Developing Regulatory Framework for Crypto

The Vietnamese government is pushing to develop a legal and regulatory framework as the country seeks to establish its stance concerning its press for a crypto economy.

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According to a report by the local news outlet, Vietnamnet, Deputy Prime Minister Le Minh Khai has issued a directive to the Ministries of Finance, Justice, Information and Communications, and the State Bank of Vietnam on building a legal framework for cryptocurrencies and virtual assets in general.

According to the instruction from the Minister, the tagged agencies are expected to explore the various grey areas, documents, and existing policies that need to be amended, supplemented, and promulgated. The call for the development of a regulatory framework for the digital assets ecosystem stems from an earlier push by the Prime Minister, who established, back in 2017, Decision 1255 to approve the project to complete the legal framework for the management and handling of virtual assets, cryptocurrencies, and virtual currencies.

One of the primary goals of the Vietnamese government is to holistically research, identify and classify digital assets based on the peculiarity of the country’s economy and digital landscape. 

Additionally, the report has it that the government sought “to propose specific tasks, jobs and orientations to develop and perfect the law on virtual assets, electronic money, and virtual money to control related risks but not affect the development of IT and e-commerce; and assign responsibilities and an implementation roadmap to relevant ministries and agencies to handle related issues.”

Vietnam’s Positive Disposition to Blockchain Yielding Fruits

Cryptocurrency is growing in Vietnam as much as it proliferates in Asian countries, and thus far, the government has maintained a relatively positive stance on the ecosystem. The government’s interest in the development of the digital currency ecosystem dates back as far as August 2020 when the Ministry of Information and Communications floated an enterprise blockchain platform dubbed akaChain in line with its national program as it hopes to enter the top 50 slots of countries with positive momentum for blockchain technology growth.

Over the years, the efforts have yielded good fruits as miners, and multinational companies have chosen Vietnam for various pilot programs.

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Axie Infinity’s Home Ronin Network Suffers Over $600m in another DeFi Hack

The Ronin Network has suffered what is being tagged as the largest hack in the history of Decentralized Finance (DeFi), which funds in excess of $625 million carted away by the hackers.

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The Ronin Network’s official blog post shared that the hackers perpetrated the attack on March 23, even though it is just being discovered.

Ronin Network is an Ethereum sidechain that was created with Axie Infinity’s community in mind. It is the product of the search by the Axie Infinity team for a fast, cheap, and reliable network resident on the Ethereum blockchain. As detailed in the Ronin Network blog post, a total of “173,600 Ethereum and 25.5M USDC drained from the Ronin bridge in two transactions.”

“The attacker used hacked private keys in order to forge fake withdrawals. We discovered the attack this morning after a report from a user being unable to withdraw 5k ETH from the bridge,” the blog post reads.

As detailed by Ronin Network, a transaction can only be recognized by at least 5 out of the 9 validators’ signatures the protocol has. The network said the hackers “managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO.”

The Ronin Network also explained that the “validator key scheme is set up to be decentralized so that it limits an attack vector, similar to this one, but the attacker found a backdoor through our gas-free RPC node, which they abused to get the signature for the Axie DAO validator.”

The address of the hackers is a relatively new one. Fortunately, the majority of the funds stolen are still existing, minus the 6,250 ETH that has been sent to various other addresses. As confirmed in the blog post, transactions on the Ronin Network and the Katana Decentralized Exchange have been halted to allow joint investigation with relevant agencies.

Prior to this Ronin Network hack, interoperability blockchain, Poly Network ranked as having the largest hacked funds in DeFi history, however, the entire $610 million hacked was completely returned after a bout of interactions between the hacker and the Poly Network team.

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Budget to Provide for Fulfilling Expanded Crypto Surveillance Goal: CFTC

In order to properly oversee the broader industry under its purview, the United States Commodity Futures Trading Commission (CFTC) has requested a robust budget for its Fiscal Year 2023 in order to expand its digital assets or cryptocurrency surveillance targets.

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As contained in the commission’s budget proposal, the funds will be used for the acquisition of additional training resources to support the assessment of new digital assets.

While the United States CFTC currently oversees about 10 Derivatives Clearing Organizations (DCOs) in its main market, a growing number of these have started dealing in digital currencies. With the funding, the CFTC will attempt to support the DCOs in employing effective data-breach security solutions given the use of brute force attacks, Distributed Denial of Service (DDoS) attacks launched from botnets, and other compromised equipment, sophisticated social engineering efforts, and various other malware efforts and exploits.

“Each new digital asset operates differently with its own specialized set of threat vectors. Each carries its own unique set of risks that need to be identified, assessed, and then examined,” said the document. “The division is requesting additional training resources in the area of loss prevention and resources to analyze and assess new digital assets.”

The United States has continued its stance as a hub for new financial innovation, and the digital assets ecosystem is notably advancing its reach in the country. Recently, the US President, Joe Biden, issued an Executive Order tasking all regulatory agencies, including the CFTC, involved in the oversight of the digital currency ecosystem to coordinate their efforts to bring about uniformity in the approach to these nascent asset classes.

As the new digital assets are dynamic in nature and constantly evolving, the requested budget by the CFTC is poised to gain a better advantage in terms of resources and training it needs to keep up to date with its tasks, even as the ecosystem continues with its upward growth momentum.

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CFTC Offers Budget Provision to Fulfill Expanded Crypto Surveillance Goal

In order to properly oversee the broader industry under its purview, the United States Commodity Futures Trading Commission (CFTC) has requested a robust budget for its Fiscal Year 2023 in order to expand its digital assets or cryptocurrency surveillance targets.

Webp.net-resizeimage - 2022-03-30T162944.884.jpg

As contained in the commission’s budget proposal, the funds will be used for the acquisition of additional training resources to support the assessment of new digital assets.

While the United States CFTC currently oversees about 10 Derivatives Clearing Organizations (DCOs) in its main market, a growing number of these have started dealing in digital currencies. With the funding, the CFTC will attempt to support the DCOs in employing effective data-breach security solutions given the use of brute force attacks, Distributed Denial of Service (DDoS) attacks launched from botnets, and other compromised equipment, sophisticated social engineering efforts, and various other malware efforts and exploits.

“Each new digital asset operates differently with its own specialized set of threat vectors. Each carries its own unique set of risks that need to be identified, assessed, and then examined,” said the document. “The division is requesting additional training resources in the area of loss prevention and resources to analyze and assess new digital assets.”

The United States has continued its stance as a hub for new financial innovation, and the digital assets ecosystem is notably advancing its reach in the country. Recently, the US President, Joe Biden, issued an Executive Order tasking all regulatory agencies, including the CFTC, involved in the oversight of the digital currency ecosystem to coordinate their efforts to bring about uniformity in the approach to these nascent asset classes.

As the new digital assets are dynamic in nature and constantly evolving, the requested budget by the CFTC is poised to gain a better advantage in terms of resources and training it needs to keep up to date with its tasks, even as the ecosystem continues with its upward growth momentum.

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CFTC Requests Funding for Fulfilling Expanded Crypto Surveillance Goal

In order to properly oversee the broader industry under its purview, the United States Commodity Futures Trading Commission (CFTC) has requested a robust budget for its Fiscal Year 2023 in order to expand its digital assets or cryptocurrency surveillance targets.

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As contained in the commission’s budget proposal, the funds will be used for the acquisition of additional training resources to support the assessment of new digital assets.

While the United States CFTC currently oversees about 10 Derivatives Clearing Organizations (DCOs) in its main market, a growing number of these have started dealing in digital currencies. With the funding, the CFTC will attempt to support the DCOs in employing effective data-breach security solutions given the use of brute force attacks, Distributed Denial of Service (DDoS) attacks launched from botnets, and other compromised equipment, sophisticated social engineering efforts, and various other malware efforts and exploits.

“Each new digital asset operates differently with its own specialized set of threat vectors. Each carries its own unique set of risks that need to be identified, assessed, and then examined,” said the document. “The division is requesting additional training resources in the area of loss prevention and resources to analyze and assess new digital assets.”

The United States has continued its stance as a hub for new financial innovation, and the digital assets ecosystem is notably advancing its reach in the country. Recently, the US President, Joe Biden, issued an Executive Order tasking all regulatory agencies, including the CFTC, involved in the oversight of the digital currency ecosystem to coordinate their efforts to bring about uniformity in the approach to these nascent asset classes.

As the new digital assets are dynamic in nature and constantly evolving, the requested budget by the CFTC is poised to gain a better advantage in terms of resources and training it needs to keep up to date with its tasks, even as the ecosystem continues with its upward growth momentum.

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