Tom Jessop, president of Fidelity Digital Assets, commented on the findings he seen a rise in interest in digital assets from early adopters, like crypto hedge funds, to traditional institutional investors like family offices and endowments. When it comes to the reason behind their interest in digital assets, 46% of respondents find the low correlation to other assets to be crypto’s most appealing characteristic. USA-based asset management firm Fidelity Investments released the results of a survey showing that 22% of institutional investors already own digital assets.
A game developer and firm behind blockchain 3D fighting game, CryptoFights has announced it has secured investment from Calvin Ayre (an entrepreneur and gaming enthusiast). Calvin Ayre commented: “I love online games and I love Bitcoin, so it’s great that Kronoverse combines them both. I’m impressed that its team quickly recognized what the original Bitcoin, now back as Bitcoin SV, can do with massive scaling. I’m betting that Kronoverse makes a big impact, and I encourage other online game companies to also build on Bitcoin SV.”
Predicoin gives crypto investors a one-stop social media update. They are building a cryptocurrency data analytics platform that aims to aggregate information, analyze the data and derive trends in price and sentiment. They’re working on solutions to help investors track cryptocurrency content and quickly extract insight. Pierre Alexandre Picard, Cofounder explained, “we want to leverage the abundance of data in the crypto market to track and, one-day, be able to anticipate market changes.”
The Korea Financial Investors Protection Foundation (KFIPF) has distributed another report which demonstrates that South Koreans who put resources into cryptocurrency; a normal of USD 6,000 for each person. What was all the more fascinating was that the individuals who had just purchased before in the past review in 2017, had wound up purchasing, significantly more, demonstrating that the confidence in crypto had stayed high even in a rough year for crypto markets.
Branding China Group (BC group a Hong Kong based trading & asset management firm) has launched an insured custody service for cryptocurrencies for institutional investors in Asia. Hugh Madden, CTO of BC Group commented, “BC Group’s custody service removes one of the key barriers that has to date prevented professional traders and institutions from adding digital assets to their portfolios.”
A village located in the Wenzhou, Zhejiang region called Yuedong, China has recently launched expressed their vision on becoming Blockchain Village. Approximately 60 percent of the residents in the area are aware with the emerging cryptocurrencies industry and most of the villagers have started to invest their fund in the rising alternative investment.
An investment management company based in the United States, Morgan Creek has claimed to become the first cryptocurrency firm in the country to raise money from the pension fund. The company have confirmed that its new Morgan Creek Digital will be investing in digital assets and secured two pension funds in Fairfax, Virginia.
A new platform, Moonie offers a digital desktop accounting program mainly designed for small-scale cryptocurrency investors and traders. The platform claimed to offer a solution which could help the user in preparing for tax time reporting. It’s also reported to enable users to generate reports such as the complete breakdown of balances, gains, fees and holds.
The Israeli Tax Authority has stepped up its strategy to combat money laundering in the cryptocurrency industry by demanding information about the cryptocurrency investors. As per the report, a company engaging in cryptocurrency activities should report the investment activity about the customers who made over $50,000 transaction in a year to the Money Laundering Authority.
The co-founder of a London-headquartered company named Elliptic which focus on tracking and preventing crime in cryptocurrencies, Tom Robinson revealed that the hackers are currently aiming at the amateur cryptocurrency investors. Robinson says, “What we’re seeing is a shift away from the exchanges to the users — so things like phishing attacks, and trying to trick people into giving money to them.”