China News by Thebittimes.Com

Bullish Inc. (NYSE: BLSH), a global digital asset platform catering to institutional clients, announced Tuesday it has received $1.15 billion in proceeds from its initial public offering (IPO), settled entirely in stablecoins. According to an announcement from the Cathie Wood favored firm, the transaction marks a significant milestone for the use of blockchain-based currencies in U.S. capital markets. The majority of the stablecoins were minted on the Solana (SOL) blockchain, with Jefferies serving as the billing agent for the offering. Jefferies oversaw the minting, conversion and distribution of the digital assets, coordinating with multiple issuers and platforms across North America, Europe and Asia. Bullish received a range of US dollar-and euro-denominated stablecoins, including USD CoinVertible and EUR CoinVertible issued by Societe Generale-FORGE, Global Dollar and PayPal USD issued by Paxos, Ripple USD on the XRP Ledger, USD1 from World Liberty Financial,...

Towards the end of last week, Grayscale revealed that all digital assets that lie in its digital asset products were stored under the custody of Coinbase Custody Trust Company, LLC. The company, however, went on to clarify that the BTC underlying in the Grayscale Bitcoin Trust was owned by “ GBTC and GBTC alone.” Nevertheless, due to security concerns, the company refused to make on-chain wallet information and confirmation information publicly available via a cryptographic Proof-of-Reserve or other advanced cryptographic accounting procedures. 6) Coinbase frequently performs on-chain validation. Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure. — Grayscale (@Grayscale) November 18, 2022 FUD has, evidently, been spreading like wildfire and the state of the flagship fund has been deteriora...