Mike Novogratz's crypto investment bank Galaxy Digital has lost $136 million in the first three quarters of 2018, Bloomberg reports Nov. 28. According to Bloomberg, Galaxy Digital’s realized and unrealized losses in Q3 amounted to $41 million, which when combined with the results of previous quarters, amounts to the firm...
U.S. forex exchange (FX) settlement giant CLS’ blockchain payment netting service has gone live today, Nov. 28. According to the the company’s press release, Goldman Sachs and Morgan Stanley are among the initial users of the service, which was built in conjunction with IBM. The CLS Group reportedly settles an...
The Bahrain Institute of Banking and Finance (BIBF) is launching what it claims to be the country’s first “Blockchain Academy,” according to an announcement published Nov. 26. The BIBF was established in the Kingdom of Bahrain in 1981 by approval of the Specific Council for Vocational Training. The institute is...
French stock market regulator, the Autorite des Marches Financiers (AMF), has jointly issued a warning with the country’s central bank and French Prudential Supervision and Resolution Authority (ACPR) recalling the risks associated with “speculative” crypto assets. The warning was posted as a press release on the AMF official website...
Al Hilal Bank, based in Abu Dhabi, the United Arab Emirates (UAE), has announced it has completed “the world’s first sukuk transaction” with the use of blockchain technology, Reuters reports Nov. 26. Sukuk, a legal instrument also known as “sharia compliant” bonds, allows investors to generate returns without infringing on...
Malaysian Finance Minister Lim Guan Eng has stated that any entity wishing to issue cryptocurrency must defer to the country’s central bank, Bank Negara Malaysia (BNM). The minister’s comments were reported by local English-language daily broadsheet the New Straits Times (NST) Nov. 26. The finance minister outlined his stance in...
Mike Novogratz, ex-Goldman Sachs partner and founder of Galaxy Digital, has said that he expects cryptocurrency to “flip next year” in an interview published by Financial Times (FT) Nov. 23. During the interview, Novogratz said that “this year has been challenging” for Galaxy Digital –  a company that he hopes...
The German Federal Ministry for Economic Affairs and Energy (BMWi) is planning to fight tax evasion schemes by using blockchain, German business news outlet WirtschaftsWoche reported Nov. 22. Following the major European tax fraud scheme CumEx-Files, the BMWi has suggested that distributed ledger technology (DLT) is capable of making the...
SBI Ripple Asia and the Japan Payment Card Consortium have announced a joint proof of concept (PoC) to combat fraud with blockchain technology, according to an official release published Nov. 16. According to the news release, the PoC will be conducted on R3's blockchain platform, Corda, and will aim to...
Photo: TPCOM / Flickr In Tuesday, Spanish banking giant BBVA announced that together with four other banks, they have joined the EC’s planned International Association for Trusted Blockchain Applications (IATBA), which could be a legal entity as early as first quarter of 2019. Also invited and confirmed is a Spanish banking...