BOCI and UBS Partner to Issue First Tokenized Security in Hong Kong

BOCI, a leading Chinese financial institution, has issued the first tokenized security in Hong Kong, reaching a milestone in digital finance. The CNH 200 million fully digital structured notes, originated by UBS, have been placed with clients in Asia Pacific, indicating a significant collaboration between BOCI and UBS in the digital structured notes arena.

This development comes after UBS’s issuance of a USD 50 million tokenized fixed rate note in December 2022, under English and Swiss law, on a permissioned blockchain. The latest venture takes a step forward, marking the first product of its kind in Asia Pacific, constituted under Hong Kong and Swiss law, and tokenized on the main Ethereum blockchain.

Both BOCI and UBS are pioneering the use of blockchain technology to enhance efficiency in high-frequency issuance activities. Ms Ying Wang, Deputy CEO at BOCI, expressed the institution’s dedication to driving the simplification of digital asset markets and products through blockchain-based digital structured products. She also highlighted BOCI’s commitment to promote the digital transformation of Hong Kong’s financial industry.

Meanwhile, UBS continues to broaden its tokenization services, targeting structured products, fixed income, and repo financing through its UBS Tokenize platform. Aurelian Troendle, Global Head of MTN Trading at UBS AG, emphasized the potential benefits blockchain technology can offer to investors.

This milestone achieved by BOCI and UBS signals a new era of digital securities, paving the way for further innovations in the field.


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Solana Foundation Responds to SEC’s Security Classification of SOL Token

The Solana Foundation has publicly objected to the United States Securities and Exchange Commission’s (SEC) recent classification of its native cryptocurrency, Solana (SOL), as a security. 

The SEC’s designation of the SOL token as a security is pivotal as it imposes an additional set of regulatory and compliance demands. The classification is hinged on several factors, such as the anticipation of profits originating from third-party efforts, as well as how the tokens are utilized and promoted.

In a statement, the Solana Foundation voiced its disagreement with the SEC’s view, expressing that it welcomes dialogue with policymakers to clarify the legal standing of digital assets. The Foundation also mentioned its active collaboration with legal experts and ongoing communications with the SEC to address their concerns.

Solana’s utility token SOL, which debuted in March 2020, serves multiple functions within its network. SOL holders can stake their tokens to validate transactions through its consensus mechanism, receive rewards, pay transaction fees, and engage in governance.

Notably, the SEC’s security label was attached to the SOL token in two lawsuits filed against crypto exchanges Binance and Coinbase on June 5 and June 6 respectively.

In the past, the Solana Foundation engaged in private sales of tokens to institutional investors and venture firms, reportedly under a simple agreement for future tokens (SAFT), which is a security issuance mechanism for transferring digital tokens from developers to investors. Following such sales, the Foundation filed private offering forms with the SEC.

Moreover, during Solana’s initial coin offering in March 2020, a public sale of SOL tokens took place, with 8 million tokens (1.6% of the initial supply) allocated to the public at $0.22 each, raising $1.76 million for the Solana Foundation.

Bloomberg contributor and legal expert, Matt Levine, offered his view on the controversy in the article titled “When Is a Token Not a Security?”,opining that earlier securities offers of SOL should not necessarily define the token as a security now. He argued that while the SEC might find the current public trading of SOL tokens without adequate disclosure and investor safeguards regrettable, it is not directly Solana’s liability.

This development highlights the ongoing debates and challenges in providing clear regulations for digital assets.


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Equities Up, Crypto Down: Robinhood’s May 2023 Trading Data and Upcoming Crypto Delisting

Robinhood Markets Inc., the popular trading platform known for democratizing investing, has released its operating data for May 2023, showing an increase in both equity and options trading but a decline in cryptocurrency trading.

In May, Robinhood’s Net Cumulative Funded Accounts (NCFA) reached 23.1 million, a growth of around 20,000 from the previous month. This figure, however, only represents unique users, as it does not count existing customers who have opened multiple accounts.

Despite the increase in the number of funded accounts, Robinhood reported a drop in Monthly Active Users (MAU), which fell by roughly 900,000 from April to May 2023, bringing the total to 10.6 million.

The trading platform experienced an uptick in Assets Under Custody (AUC), with a 6% increase from April to $81.8 billion by the end of May. Net deposits for the month of May totaled $1.6 billion, an annualized growth rate of 25% compared to April’s AUC. Over the past year, net deposits have reached $16.5 billion, reflecting an annual growth rate of 22% relative to May 2022 AUC.

However, when it comes to trading volumes, Robinhood’s report showed contrasting trends. While equity notional trading volumes rose 27% to $49.4 billion, and options contracts traded increased 29% to 97.5 million, cryptocurrency trading went down. Crypto notional trading volumes decreased significantly by 43% to $2.1 billion, reflecting a relative decline in the enthusiasm for cryptocurrency trading among Robinhood’s user base in May.

The company’s margin balances remained stable at $3.1 billion, showing no change from April 2023. Cash sweep balances, on the other hand, showed a marked increase, growing 16% from the end of April to $11.2 billion by the end of May.

The report provides insights into Robinhood’s performance in a volatile market environment, indicating the shifting preferences of its users. The contrasting trend in equities and options versus cryptocurrency trading may reflect changing investor sentiment in the evolving landscape of financial markets.

Adding to these dynamics that could significantly impact future trading volumes, Robinhood announced the delisting of cryptocurrencies Solana (SOL), Cardano (ADA), and Polygon (MATIC). This decision follows recent charges by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase, alleging that these platforms traded unregistered securities. Given these circumstances, a further decline in cryptocurrency trading activity on Robinhood can be expected.


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Bitcoin Protocol Ordinals Unveils Powerful Recursive Inscription Feature

In an update to the Bitcoin protocol Ordinals, the newly appointed chief maintainer, Raph, has merged an update titled “Recursive Inscriptions” (Update no. 2167) into the Ordinals codebase on GitHub. This update, originally proposed by Ordinals creator, Casey Rodarmor, has unlocked several powerful uses by permitting inscriptions to request the content of other inscriptions through a unique syntax, “/-/content/:inscription_id”.

According to developer Leonidas, this simple change has opened up innovative ways to interact with the Bitcoin network. One use case is in creating Profile Picture (PFP) collections. Instead of engraving 10,000 individual JPEG files for a PFP collection, which would be extremely costly, it is now possible to inscribe 200 features from the collection and create 10,000 inscriptions. Each inscription uses a small piece of code to request the features and programmatically render the image.

This ingenious approach allows artworks to be stored on-chain in a more efficient manner. For instance, in the case of Bitcoin Apes, this update could potentially save over $1 million in transaction fees.

Furthermore, the Ordinals update also allows many code packages to be fully inscribed onto the Bitcoin chain. Since the content being called is code (in text form), it is of minimal size. This breakthrough facilitates inscriptions to bypass the Bitcoin block size limit of 4MB. This could potentially enable the entire complex 3D video game to be fully on-chained onto Bitcoin.

Ordinals is a protocol associated with Bitcoin. It allows for “inscriptions” (similar to NFT) or data entries to be added to the Bitcoin blockchain. These inscriptions can contain any type of data, including text, images, or code, allowing for a wide range of applications beyond mere cryptocurrency transactions. The recent update has now significantly broadened the scope and potential applications of this technology.


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Crypto Market Outflows Continue for 8th Week Amid Rising Rates and SEC Actions

The cryptocurrency market has recorded its eighth consecutive week of outflows, driven by ongoing monetary policy concerns and mounting regulatory pressures. According to a report by CoinShares, outflows from digital asset investment products reached US$88 million last week, cumulating an 8-week total of US$417 million. This ongoing trend is inching towards last year’s record 12-week run of outflows, primarily attributed to the uncertainty surrounding continuous interest rate hikes.

The outflows were largely focused on North America, with one provider accounting for 87% of the total outflows. In Europe, Switzerland bucked the trend with minor inflows of US$9.2 million, while Germany reported outflows of US$9.4 million.

Bitcoin and Ethereum, the two leading cryptocurrencies, were not immune to the trend. Bitcoin saw US$52 million in outflows last week, bringing the total for the past 8 weeks to US$254 million or 1.2% of total assets under management (AuM). Ethereum, despite experiencing its largest single-week outflow of US$36 million since last September’s Merge, has fared comparatively better with total outflows representing 0.6% of AuM.

The altcoin market has shown mixed results. Litecoin, XRP, and Solana experienced minor inflows, while Polygon suffered outflows. Notably, altcoins have, on aggregate, seen inflows year-to-date, contrasting the outflows from Bitcoin and Ethereum.

Regulatory actions are likely contributing to these market movements. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, one of the world’s largest cryptocurrency exchanges, and its founder CZ on June 5 for alleged violation of U.S. securities rules. The SEC proceeded to take similar actions against Coinbase on June 6.

The SEC has classified several tokens related to Binance, including BNB and BUSD, and other cryptocurrencies like SOL, ADA, and MATIC as securities. The SEC also argues that various other cryptocurrencies traded on and Binance.US, and a group of 13 cryptocurrencies traded on Coinbase, were “offered and sold as securities”.

These regulatory moves have rocked the altcoin market. Over the weekend, many altcoins, particularly those identified as securities by the SEC, experienced significant value drops.

As monetary policy issues continue to affect investor sentiment, the added uncertainty from regulatory actions further underscores the volatility and risks inherent in the crypto market. These trends highlight the need for investors to remain vigilant and informed about these evolving challenges.


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A Guide to Minimizing Risk in Crypto Trading

Importance of risk management in crypto trading

In the volatile realm of cryptocurrency, where uncertainty permeates every corner, the importance of risk minimization cannot be emphasized enough. Changpeng Zhao, the esteemed entrepreneur and founder of Binance, one of the largest cryptocurrency trading platforms, succinctly captures this sentiment by advising, ‘If you can’t sleep at night, make your position smaller,’ and ‘if you are stressed about your position or leverage, reduce the size of your investment.’ 


These words of wisdom underscore the vital role played by risk minimization in navigating the treacherous waters of crypto trading. Acknowledging the market’s unpredictability and embracing the philosophy of reducing exposure during moments of anxiety allow investors to safeguard themselves from debilitating losses and preserve their mental well-being. To succeed in the tumultuous world of cryptocurrencies, it is imperative to embrace prudence, set realistic expectations, and adopt disciplined risk management practices. This article aims to provide a comprehensive overview of these principles and guide you toward mitigating risks effectively.

Volatility and market unpredictability in the crypto space

Volatility and market unpredictability are defining characteristics of the crypto space, significantly impacting risk management strategies. Crypto markets are notorious for their wild price swings, creating both opportunities and challenges for investors. The extreme volatility witnessed in cryptocurrencies such as Bitcoin, Ethereum, and others has the potential to generate substantial profits, but it also amplifies the risks associated with trading. For instance, the case of Three Arrows Capital serves as a cautionary tale, where excessive leverage led to significant losses during a period of heightened market volatility. The rapid and unpredictable price movements observed in the crypto space necessitate a cautious approach to risk management. Traders must carefully assess their risk appetite, employ appropriate position sizing techniques, utilize stop-loss orders, and maintain the discipline to navigate through these turbulent market conditions effectively. By acknowledging the inherent volatility of cryptocurrencies and implementing robust risk management measures, traders can strive to strike a balance between seizing lucrative opportunities and safeguarding their investments from potential downturns.


Most important Risk Minimizing Techniques

Setting Stop Losses

Let’s say you invest in Ethereum at a price of $1,000 per coin. To set a stop-loss order, you choose to exit the position if the price drops below $900, indicating a potential trend reversal. By placing a stop-loss order at $900, your position will be automatically sold if the price reaches or falls below that level. This helps limit potential losses and protect your capital, providing a risk management strategy in volatile crypto markets. Remember to regularly review and adjust your stop-loss levels based on market conditions and your risk tolerance.


Position Sizing

Position sizing in crypto trading involves determining the appropriate amount of capital to allocate to a trade. To calculate position size, you can follow these steps: (1) Determine your maximum acceptable risk as a percentage of your account balance, e.g., 2%. (2) Calculate the dollar amount of your risk based on your account balance. (3) Calculate the difference between your entry price and stop-loss level. (4) Divide the dollar amount of risk by the price difference to determine the position size. Adjust position size based on your risk tolerance and market conditions. Proper position sizing helps manage risk effectively in trading.


Take Profit Orders

Take-profit orders are an important risk management tool in crypto trading. They allow you to secure profits by automatically selling a cryptocurrency when it reaches a predetermined price level. (1) Determine your desired profit target for the trade, typically expressed as a percentage of your investment. Let’s say you want to secure a 20% profit. (2) Calculate the price level at which your desired profit target would be reached. For example, if your entry price is $1,000, a 20% profit would be achieved at $1,200. (3) Place a take-profit order at the predetermined price level, such as $1,200. (4) Once the price reaches or exceeds $1,200, your position will be automatically sold, securing your desired profit.


Diversification Beyond Cryptocurrency

Diversification is a crucial risk management strategy in crypto trading, aiming to reduce exposure to any single investment. However, it doesn’t have to be limited to just cryptocurrencies. The blockchain technology underlying crypto opens up opportunities to diversify into various digital assets, including NFTs (Non-Fungible Tokens) or crypto assets pegged to real-world assets like gold. These innovations expand the possibilities of portfolio allocation beyond traditional boundaries. One such avenue, reaching beyond traditional boundries is investing in synthetic assets that replicate alternative assets, such as luxury watches or sneakers. These digital representations offer access to unique markets that were traditionally out of reach for many investors. Additionally, blockchain allows for 24/7 exposure to traditional assets like stocks, enabling seamless trading across different time zones and eliminating limitations imposed by traditional financial markets. Through these innovative applications, blockchain technology broadens the scope of diversification, providing traders with the means to access a wider range of assets and enhance risk management strategies in the ever-evolving world of cryptocurrencies.

Use Multiple Indicators 

To minimize risk in crypto trading, it is crucial to avoid relying solely on one metric or trading indicator. Instead, incorporating multiple indicators can provide a more comprehensive and reliable assessment of market conditions. By combining different tools and techniques, such as japanese candlestick patterns for entry and exit points and technical indicators, traders can enhance their decision-making process. Candlestick patterns offer insights into market sentiment and can signal potential trend reversals or continuations. Technical indicators, on the other hand, provide quantitative data and statistical analysis of price movements, helping identify overbought or oversold conditions. By utilizing a diversified set of indicators, traders can validate signals, reduce false positives, and make more informed trading decisions. This multifaceted approach aids in risk management by increasing the likelihood of accurate predictions and minimizing the impact of individual indicator biases.

The Risk Minimizing Check List For Crypto Trading

  1. Educate Yourself

  2. Set Realistic Goals

  3. Determine Risk Tolerance

  4. Diversify Your Portfolio

  5. Implement Stop-Loss Orders

  6. Use Take-Profit Orders

  7. Practice Proper Position Sizing

  8. Stay Updated on Market Trends

  9. Maintain Discipline and Emotional Control

  10. Secure Your Investments



In conclusion, you were given a glimpse into the first best practices of minimizing risk in crypto trading. But let us not forget the most important thing: reassessing your investment goals. Don’t be a prisoner to investment maxims and formulas, for they will only take you so far. Forge your own thesis, roll the dice, and be ready to adjust when the winds of change come blowing in. The crypto market is volatile, and only the nimble and cunning will survive. 

“Conviction is not blind faith.”


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Enhancing Metaverse Integration: My Neighbor Alice joins the Board of Directors of OMA3


Riccardo Sibani, Chief Product Officer at My Neighbor Alice, represents the company on the OMA3 Board and contributes to developing a more interconnected metaverse.

STOCKHOLM-– JUNE 06, 2023 – My Neighbor Alice, the fully-decentralized open-world game, is proud to announce that its Chief Product Officer (CPO) has joined the board of directors of OMA3 (“Open Metaverse Alliance for Web3”).

OMA3 collaborates with Web3 metaverse platform creators, including renowned members such as Animoca Brands, Alien Worlds, Unstoppable Domains, The Sandbox, Upland, along with many others.They ensure virtual land, digital assets, ideas, and services are highly interoperable between platforms and transparent to all communities.

My Neighbor Alice is an open world where players can gather and leverage resources to shape their shared digital environment. The team focuses on creating a metaverse where digital items and resources can be shared across various virtual worlds. This focus aligns seamlessly with OMA3’s vision of an open and highly interoperable metaverse, marking a significant milestone for both entities.

The collaboration between My Neighbor Alice and OMA3 signifies a significant step forward in ensuring transparency for project communities and the web3 ecosystem. This includes striving for high interoperability of virtual land, digital assets, ideas, and services across platforms.

Riccardo Sibani, with his profound technical expertise and rich blockchain knowledge, is expected to be an invaluable asset to OMA3. Actively involved in creating shared protocols, Sibani will join a board to guide OMA3 to further the collective mission.

Commenting on the recent appointment as a board of directors member, Riccardo Sibani said, “Joining the board of directors at OMA3 is an exciting opportunity to contribute to the development of a more interconnected metaverse. By fostering collaboration and interoperability across platforms, we aim to create a seamless and transparent experience in the web3 space for all communities. I am thrilled to be part of this collective mission and look forward to shaping the future of decentralization together.”

By joining OMA3’s board of directors, My Neighbor Alice further demonstrates its commitment to establishing shared protocols and shaping an open metaverse. The team is excited about the future of their collaboration with OMA3 and looks forward to creating a more transparent and interconnected virtual landscape.




Telegram Announcement:




About My Neighbor Alice


My Neighbor Alice is a groundbreaking multiplayer builder game built on Chromia’s Blockchain that offers an engaging and accessible experience on a charming virtual island. My Neighbor Alice represents the future of gaming, combining virtual reality, blockchain, and decentralized finance to redefine how people interact with virtual worlds. Integrating Blockchain technology allows players to own and trade virtual assets (NFTs). The game’s marketplace enables players to buy, sell, and trade these NFTs, creating a dynamic and player-driven virtual economy. Players can earn rewards, monetize their creations, and engage in community events, fostering a sense of ownership and collaboration. With different strategic partnerships, MNA underscores the project’s dedication to promoting NFT ownership, encouraging a more engaging and interactive gaming community.

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