Patrick Gruhn, former head of FTX Europe, is launching a new venture in the US. His firm, Perpetuals.com, aims to create a marketplace for tokenized stocks. The plan utilizes a new regulatory exemption framework from the SEC. This makes it the second such initiative, following one by OKX and ICE.
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BlackRock's crypto ETF holdings increased 63% to $79.6 billion as investor interest returned. Despite this significant quarterly surge, the assets remain 23% below their value from the same period last year. The data indicates a recovery in the crypto market but not a full return to prior highs. This analysis comes from a recent CoinDesk report on the asset manager's holdings.
The US Congress must determine how to fund essential power grid upgrades driven by the country's expanding digital economy. These infrastructure improvements are necessary to support growing digital demand. A key consideration is ensuring that communities housing new infrastructure are protected. The central unresolved issue is deciding who will ultimately pay for these costly updates.
Payward, the parent company of crypto exchange Kraken, has agreed to purchase Lithuania's Saldo Bank. The deal, announced through a report by CoinDesk, will make Payward the first crypto-focused firm to acquire a licensed bank in the European Union. The acquisition of Saldo Bank, which holds approximately $190 million in assets, provides Payward with a full EU banking license. This license will allow the company to expand its services into regulated deposit-taking and lending operations.
The U.S. Bureau of Labor Statistics reported higher-than-expected Consumer Price Index data for September. This hot inflation reading triggered a sharp decline in the price of bitcoin. Analysts suggest the data may influence the Federal Reserve's monetary policy decisions. The prospect of more aggressive interest rate hikes by the Fed is seen as a negative for risk assets like cryptocurrencies.
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