Grayscale has filed for a Cardano exchange-traded fund (ETF) with the New York Stock Exchange, marking its first standalone investment vehicle for ADA. This move comes amid rising institutional interest in Cardano, as the token surged 14% following the announcement, despite a recent downtrend. Analysts remain optimistic about ADA’s potential for continued growth, especially if the SEC approves the ETF.
read more
News from FIN
Generated 2 posts last week J Safra Sarasin explores potential takeover of Saxo Bank
Bank J. Safra Sarasin is reportedly exploring a takeover of Saxo Bank, which has been on the market since July. The Danish bank, with significant shareholders including Geely Holding Group and founder Kim Fournais, had previously engaged Goldman Sachs to seek potential buyers. Other interested parties have since withdrawn from the bidding process.
read moreVirtune Launches Finland’s First Crypto ETPs on Nasdaq Helsinki
Virtune has launched Finland’s first cryptocurrency exchange-traded products (ETPs) on Nasdaq Helsinki. This significant development marks a milestone in the country’s financial landscape, expanding investment opportunities in the digital asset space.
read moreUBS Must Relocate to Mitigate Systemic Risks to Swiss Economy
UBS’s precarious position, with a mere 5% equity ratio against a balance sheet of CHF 1,700 billion, highlights the systemic risks it poses to Switzerland’s economy. The implicit state guarantee for “too big to fail” banks encourages reckless behavior, and UBS’s potential departure could mitigate these risks without significant economic fallout. A call for increased equity capital could prompt UBS to relocate, ultimately safeguarding Swiss prosperity.
read moreGeorgia indicts three developers for operating crypto mixers linked to cybercrime
Three Russian nationals have been indicted in Georgia for their roles in operating crypto mixers Blender.io and Sinbad.io, which allegedly laundered funds linked to cybercrime, including ransomware. The defendants face charges of conspiracy to commit money laundering and operating unlicensed money-transmitting businesses, with potential sentences of up to 20 years. The investigation, led by the FBI, involved international cooperation and resulted in the dismantling of Sinbad.io in November 2023.
read moreCardano Founder Critiques Crypto Projects and Community Behavior in Recent Livestream
In a recent livestream, Cardano founder Charles Hoskinson criticized certain cryptocurrency projects, particularly Hex and PulseChain, labeling them as part of a troubling culture within the industry. He expressed disinterest in these projects, highlighted ongoing legal issues faced by their founder Richard Heart, and urged communities to reflect on their ecosystems’ future. Hoskinson emphasized the importance of self-governance and collaboration, distancing Cardano from these controversies while wishing the communities well.
read moreFinnish Police Seize 2.6 Million Dollars in Watches from Hex Founder
Finnish police seized luxury watches valued at $2.6 million from Richard Schueler, founder of Hex, who is wanted for tax fraud and assault. The confiscation included 20 Rolexes found in Espoo, with allegations of unpaid taxes reaching several hundred million euros. Schueler also faces a lawsuit from the SEC for issuing unregistered securities and misusing investor funds.
read moreFinnish Police Seize Luxury Watches from Hex Founder Richard Heart
Finnish police seized luxury watches valued at $2.6 million from Hex founder Richard Schueler, also known as Richard Heart, who is wanted for tax evasion. Interpol issued a red notice for Schueler over tax fraud and assault allegations, while the SEC has charged him with conducting unregistered securities offerings exceeding $1 billion. The investigation revealed misuse of funds for luxury goods, including a rare black diamond.
read morePromising Penny Stocks with Strong Financials Amid Market Fluctuations
As global markets fluctuate, investors are exploring penny stocks with strong fundamentals. Metsä Board Oyj, valued at €1.55 billion, operates in the packaging sector but faces challenges like negative earnings growth and declining profit margins. Guangshen Railway Company Limited, with a market cap of HK$23.72 billion, focuses on railway transportation in China.
read moreNokia patents encryption technology to enhance digital asset security
Nokia has patented a new encryption technology aimed at enhancing the security of digital assets, addressing significant vulnerabilities that led to $2.2 billion in losses in 2024. This innovative system encrypts assets like Bitcoin and Ethereum, making them nearly inaccessible without the private key, and supports encrypted transactions post-confirmation. As part of its shift from mobile phones to emerging technologies, Nokia’s efforts in blockchain and 5G could reshape secure data management in a rapidly evolving market.
read moreInterpol Issues Red Notice for Hex Founder Richard Heart Over Fraud Charges
Interpol has issued a red notice for Richard Schueler, known as Richard Heart, the founder of Hex cryptocurrency, over allegations of tax fraud and assault. The U.S. government is also pursuing him for orchestrating a $1 billion illegal securities scheme, with the SEC accusing him of violating securities laws. Schueler is under investigation in Finland for gross tax evasion and assault, while his cryptocurrency project faces scrutiny for potential unregistered securities violations.
read moreNokia Pursues Blockchain Opportunities with Digital Asset Encryption Patent
Nokia has filed a patent for digital asset encryption, signaling its interest in exploring blockchain technology. This move highlights the company’s ambitions in the evolving landscape of digital assets and their security.
read more