RedSwan, based in Houston, Texas, continues its advancement in the real estate tokenization sector. On September 21st, 2023, the company secured an assignment to onboard and distribute a $4 billion real estate portfolio onto the blockchain. This portfolio, managed by Dubai-based WhiteRocks Holding, includes 36 mixed-use properties in the Middle East Gulf States region. RedSwan’s...
Landmark Licensing in Singapore’s Blockchain Sphere DigiFT, an Ethereum-based digital assets exchange, has achieved a significant regulatory milestone. The Monetary Authority of Singapore has granted DigiFT a Capital Market Services (CMS) license and recognized it as a Recognized Market Operator (RMO). This development, as reported on Nov. 5, positions DigiFT at the forefront of regulated...
Tokenization Trend Gains Momentum in Traditional Finance Societe Generale (SocGen), the French banking heavyweight, has successfully issued its first tokenized green bonds on the Ethereum network, a move highlighting the increasing adoption of blockchain technology in traditional financial sectors. SocGen’s Pioneering Step with Digital Bonds SocGen has generated €10 million ($10.8 million) in digital green...
Switzerland’s SDX and SNB Collaborate on CHF Digital Bond Transactions Using wCBDC Swiss banks, including the Cantons of Basel-City and Zurich, have recently issued digital bonds using real CHF wholesale central bank digital currency (wCBDC) on SIX Digital Exchange (SDX). This event represents the first instance of such an issuance, utilizing the Swiss National Bank’s...
A recent study from the University of Cambridge has revealed that the Ethereum blockchain’s greenhouse gas emissions, prior to its major software upgrade in 2022, were comparable to the yearly emissions of Honduras. High Energy Consumption of Blockchains Blockchains, the foundational technology behind cryptocurrencies, are known for their significant energy consumption due to coin production...
The Brazil Senate has recently passed legislation that will require Brazilian residents to pay up to a 15% tax on income generated from cryptocurrencies held on offshore exchanges. This new taxation rule is set to take effect from January 1, 2024. Details of the New Tax Rule The law, which applies to crypto users with...
Bitfinex Securities’ first tokenized bond, ALT2611, has raised only $1.5 million against its $10 million target two weeks post-launch. This development indicates a tepid response to what was initially touted as a significant innovation in capital raising. About the ALT2611 Tokenized Bond Launched on November 15, the ALT2611 Tokenized Bond is a digital representation of...
Over 130 residents of Hong Kong have fallen prey to a cryptocurrency scam involving the Hounax platform, with total losses amounting to approximately HK$120 million (US$15.4 million). Victims and lawmakers have criticized the Securities and Futures Commission (SFC) for issuing a late warning, as many had already invested in the platform. Details of the Scam...
Two cryptocurrency platforms associated with digital entrepreneur Justin Sun have reportedly fallen victim to a major hacking incident, resulting in the theft of an estimated $115 million. The affected entities include the HTX digital currency exchange, formerly known as Huobi, and the blockchain bridge Heco Chain. Details of the Security Breach HTX has confirmed that...
Binance, the world’s largest cryptocurrency exchange, has agreed to a plea deal involving over $4 billion with the U.S. government. This settlement concludes a protracted criminal investigation, with CEO Changpeng Zhao pleading guilty to several charges. Details of the Plea Agreement In the settlement reached with federal prosecutors, Changpeng Zhao will plead guilty to violating...
