Finance
Billionaire Winklevoss Twins-Backed Gemini Confidentially Filed for a U.S IPO: Bloomberg
Published
3 weeks agoon
By
admin

Crypto exchange and custodian Gemini has confidentially filed for an initial public offering (IPO), Bloomberg reported, citing people familiar with the matter.
The firm, founded by billionaire Cameron and Tyler Winklevoss, is working with Goldman Sachs and Citigroup, the report said, noting that no final decision has been made on the listing.
The potential IPO comes after the U.S. Securities and Exchange Commission (SEC) ended its investigation into Gemini without taking action, according to a February post by Cameron Winklevoss. The company also settled a separate Commodity Futures Trading Commission lawsuit in January for $5 million.
Gemini is among several crypto firms lining up to list their companies in the U.S. public market after the SEC has been in a full-scale litigation retreat in the first months of the Trump administration.
Just today, Bloomberg reported that Crypto exchange Kraken is considering an IPO by the first quarter of 2026, adding to the reports that firms such as Circle, Bullish (parent company of CoinDesk) and Blockchain.com are also queueing up for a U.S. listing.
Source link
You may like
Elizabeth Warren Calls Stablecoin Bill a Trump and Musk ‘Grift’
Crypto scammers nabbed in India for $700k fraud posing as a Japanese exchange
BTC in Stasis Below $88K as Trump Suggests Bigger Tariffs on EU, Canada
Dogecoin Price Eyes 10x Breakout After Elon Musk Ghibli Anime
XRP Price Rejected at Resistance—Are Bears Taking Control?
OpenAI expects to 3X revenue in 2025 but Chinese AI firms are heating up
Bafin
German Regulator BaFin Identifies ‘Deficiencies’ in Ethena’s USDe Stablecoin, Orders Immediate Issuance Halt
Published
3 days agoon
March 23, 2025By
admin

The German financial supervisory authority BaFin said it identified “serious deficiencies” in Ethena’s USDe token, which the company calls a synthetic dollar, and forbade the issuer from offering it to the public with immediate effect.
The European Union’s Market in Crypto Assets (MiCA) regulations for issuers of stablecoins, tokens whose value is tied to another asset, took effect on June 30 last year. Ethena GmbH has been issuing USDe since June 28, according to BaFin. Companies were allowed to continue issuing their tokens while applying for a MiCA license, unless ordered to stop.
“During the ongoing licensing process, BaFin has identified, among other things, serious deficiencies in the bank’s business organization and violations of MiCAR requirements, such as those regarding asset reserves and compliance with capital requirements,” the regulator said.
USDe counts as an asset-referenced token because it is “a crypto asset whose value stability is to be maintained by reference to other assets, rights, or currencies,” BaFin said.
Ethena is the yield-generating protocol that markets the $5.4 billion token as a “synthetic dollar” with its price anchored at $1. The token uses cryptocurrencies including bitcoin (BTC) and ether (ETH) as backing assets, pairing them with an equal value of short perpetual futures positions on various exchanges.
The strategy generates income for the protocol when perpetual funding rates are positive and passes on some of the income as yield to those who stake USDe (sUSDe). The protocol also issues the USDtb stablecoin, backed by BlackRock’s tokenized Treasury bill fund.
“BaFin also has reasonable grounds to suspect that Ethena GmbH is publicly offering securities in Germany in the form of ‘sUSDe’ tokens of Ethena OpCo. Ltd. without the required securities prospectus,” the regulator said.
Ethena said on X that it will “continue to evaluate alternative frameworks,” after being notified that the “application under the MiCAR regulatory framework will not be approved.”
Ethena’s governance token, ENA, had dropped 6.5% in the past 24 hours, extending losses following the announcement, according to CoinMarketCap data.
Krisztian Sandor contributed to this article.
UPDATE (March 21, 16:37 UTC): Adds MiCA in second paragraph, regulator quote in third, USDe explanation starting in fifth.
Source link
Ethereum
Fidelity Files for OnChain U.S. Treasury Fund, Joining the Asset Tokenization Race
Published
4 days agoon
March 23, 2025By
admin

U.S.-based asset manager Fidelity Investments has filed paperwork to register a blockchain-based, tokenized version of its U.S. dollar money market fund, aiming to join the tokenized asset race.
According to a Friday filing to the U.S. Securities and Exchange Commission (SEC), the company seeks to register an “OnChain” share class of its Fidelity Treasury Digital Fund (FYHXX) and use blockchains as transfer agent. FYHXX holds cash and U.S. Treasury securities and was launched late last year.
The OnChain class of the fund currently uses the Ethereum (ETH) network, and the firm may expand to other blockchains in the future, the filing said. The registration is subject to regulatory approval, with the product expected to become effective on May 30.
The filing happened as global banks and asset managers increasingly put traditional financial instruments such as government bonds, credit, and funds on blockchain rails, a process often referred to as tokenization of real-world assets (RWAs). They do so to pursue operational and efficiency gains and faster, around-the-clock settlements.
Fidelity, with $5.8 trillion in assets under management, is the latest traditional financial heavyweight seeking to enter the fast-growing tokenized U.S. Treasuries space.
Blackrock (BLK), in partnership with digital asset firm Securitize, launched a similar tokenized T-bill fund last March called BUIDL and has become the market leader with nearly $1.5 billion of assets, rwa.xyz data shows.
Franklin Templeton’s fund, which was the first on-chain money market product, gathered $689 million in assets since its 2021 debut.
The entire tokenized U.S. Treasury market is currently worth $4.77 billion, growing almost 500% over the past year, per rwa.xyz.
Fidelity is also one of the largest issuers of spot bitcoin and ether exchange-traded funds (ETF) in the U.S., with its $16.5 billion FBTC and $780 million FETH, per SoSoValue data.
Source link
coinbase
Coinbase Could Be Near Multi-Billion Dollar Deal for Deribit: Bloomberg
Published
5 days agoon
March 22, 2025By
admin
Animal spirits in the crypto industry continue to be evident amid the eased regulatory stance of the Trump administration, with leading U.S. spot exchange Coinbase (COIN) in advanced acquisition talks with leading global derivatives exchange Deribit, reports Bloomberg.
According to the story, the companies have notified Dubai regulators (where Deribit is licensed) about the discussions.
Bloomberg earlier this year — alongside rumors that Kraken was discussing an acquisition of Deribit — reported Deribit could be valued in the area of $4 billion to $5 billion.
Mostly known for its spot trading business, Coinbase (COIN) would be making a big push into the highly profitable crypto derivatives market with a purchase of Deribit, which saw trading volume in 2024 of nearly $1.2 trillion — almost double that of the year prior.
Earlier this week, another U.S. crypto exchange — Kraken — boosted its derivatives business with a $1.5 billion deal to purchase Ninja Trader.
Source link

Elizabeth Warren Calls Stablecoin Bill a Trump and Musk ‘Grift’

Crypto scammers nabbed in India for $700k fraud posing as a Japanese exchange

BTC in Stasis Below $88K as Trump Suggests Bigger Tariffs on EU, Canada

Dogecoin Price Eyes 10x Breakout After Elon Musk Ghibli Anime

XRP Price Rejected at Resistance—Are Bears Taking Control?

OpenAI expects to 3X revenue in 2025 but Chinese AI firms are heating up

‘Chart Is Still Broken’ – Crypto Analyst Predicts Sustained Downtrend for Altcoins Until This Takes Place

GameStop Announces $1.3 Billion Fundraising Plan To Purchase Bitcoin

Wyoming Governor Backs Away From State’s Failed Bitcoin Reserve Push

Priced at $0.20, this Solana competitor could be the next crypto to 20x

Why Are We Still Under the SEC’s Gun?

Expert Predicts XRP ETF Approval Is Only A ‘Matter Of Time’ As Approval Odds Soar

Analyst Unveils Extended XRP Price Target To $44, Reveals When To Take Profits

Would GameStop buying Bitcoin help BTC price hit $200K?

New SEC Chair Paul Atkins Holds $6,000,000 in Crypto-Related Investments – Here’s His Portfolio: Report

Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025

Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist

Aptos Leverages Chainlink To Enhance Scalability and Data Access

Bitcoin Could Rally to $80,000 on the Eve of US Elections

Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje

Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals

Crypto’s Big Trump Gamble Is Risky

Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x

Has The Bitcoin Price Already Peaked?

A16z-backed Espresso announces mainnet launch of core product

Xmas Altcoin Rally Insights by BNM Agent I

Blockchain groups challenge new broker reporting rule

Trump’s Coin Is About As Revolutionary As OneCoin

The Future of Bitcoin: Scaling, Institutional Adoption, and Strategic Reserves with Rich Rines

Is $200,000 a Realistic Bitcoin Price Target for This Cycle?
Trending
- 24/7 Cryptocurrency News5 months ago
Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
- Bitcoin2 months ago
Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
- 24/7 Cryptocurrency News3 months ago
Aptos Leverages Chainlink To Enhance Scalability and Data Access
- Bitcoin5 months ago
Bitcoin Could Rally to $80,000 on the Eve of US Elections
- Altcoins2 months ago
Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
- Bitcoin4 months ago
Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
- Opinion5 months ago
Crypto’s Big Trump Gamble Is Risky
- Price analysis5 months ago
Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x