The Digital Assets Report 107
Summary
- Hong Kong's government successfully issued its first tokenized green bond of 800 million Hong Kong dollars (US$101 million), according to an announcement last Thursday.
- Siemens emitted €40 million Blockchain-based bond on Polygon Blockchain.
- Terra founder Do Kwon charged with fraud by SEC. According to the SEC’s complaint, Terraform Labs and its co-founder Do Kwon “perpetuated a fraudulent scheme that led to the loss of at least $40 billion of market value."
- The SEC filing revealed that Do Kwon and Terraform Labs transferred over 10,000 BTC into a cold wallet, worth roughly $100 million. A Swiss bank is involved in the cash-out.
- The deal involves Jump Trading being able to purchase Terra at $0.40 while the token was traded at over $90 , has generated ~$1.3B for Jump trading with evidence of UST price manipulation to maintain the peg.
- Blockchain.com , crypto exchange and wallet provider had major exposure to Three Arrows Capital with $270 million and conducted more layoffs last month.
- Crypto hedge fund Galois shuts down after losing $40 Million to FTX
- Binance moved secretly $400 million in 2021 from U.S. partner to firm managed by CEO Zhao, Merit Peak between January and March of 2021.
- Siemens issues Blockchain based Euro-denominated bond on Polygon Blockchain.
- Taurus, the digital asset infrastructure firm, closed a $65 million Series B led by Credit Suisse amongst Arab Bank Switzerland (lead investor Series A), Deutsche Bank and Pictet Group.
- Citadel Securities takes 5.5% stake in crypto-friendly bank Silvergate Capital; shares rise.
- Crypto investors under attack by Laplas Clipper malware and MortalKombat ransomware reveals Cisco Talo. Attackers impersonate CoinPayments with a phishing email.
- YouTube appoints Web3-friendly exec as new CEO.
- Judge Kaplan threatens to revoke Sam Bankman-Fried's bail after learning how he accessed the internet via VPN.
- Nishad Singh, the former director of engineering at FTX, is reportedly planning to plead guilty to criminal charges. He's the third member of Sam Bankman-Fried’s inner circle to plead guilty and cooperate with prosecutors.
- Bank of Japan and Bank of Russia are launching Central Bank Digital Coin initiatives both in April.
To watch this week
- Wednesday - 6pm (CET) - FOMC Minutes.
- Thursday - 4:30pm (CET) - Q4 GDP 2022 - 1st revision.
- Friday - 12:30pm (CET) - PCE (Personal Consumption Expenditures Price Index).
Business
Siemens Issues Blockchain Based Euro-Denominated Bond on Polygon Blockchain
The $64 million bond has a maturity of one year.
Lyllah Ledesma
Hong Kong Successfully Offered Inaugural $100M Tokenized Green Bond
Hong Kong’s central bank had been exploring tokenization of green bonds since at least 2021.
Sandali Handagama
Binance Moved $400M to Trading Firm Managed by CZ: Report
According to Reuters, former Binance US Chief Executive Catherine Coley expressed puzzlement at certain large transfers from the exchange.
Bessie Liu
Crypto Hedge Fund Galois Shuts Down After Losing $40M to FTX: FT
Galois co-founder said the fund has halted all trading as it is no longer viable post-FTX.
Sam Reynolds
Jump Crypto Is Unnamed Firm That Made $1.28B From Do Kwon’s Doomed Terra Ecosystem: Sources
A complaint by the SEC against Do Kwon and Terraform Labs revealed an unnamed trading firm helped Kwon restore UST’s $1 peg in 2021 in exchange for discounted LUNA tokens.
Tracy Wang and Sam Kessler
Funding Roundup: Crypto Companies Landed $185M This Week
The majority of companies raising over the last seven days were rustling up pre-seed or seed funding.
Bessie Liu
Trader Makes $100K in Seconds Front-Running Token Listing on Binance - Decrypt
A trader whose wallet had already been associated with front-running token listings on Binance made over $100,000 in profit on Friday.
Sander Lutz
DBS Bank Reports 80% Growth in Bitcoin Traded in 2022
Despite unfavorable market conditions, in the second half of 2022, the DDEx reported a net buy position for all customers.
Casey Wagner
Citadel Securities takes 5.5% stake in crypto-friendly bank Silvergate Capital; shares rise
Ken Griffin’s Citadel Securities has taken a stake in crypto-friendly bank Silvergate.
Adam Morgan McCarthy
Mortal Kombat ransomware forms tag team with crypto-stealing malware
It’s like a choose your own adventure game gone horribly wrong.
/blog/authors/cboyd
YouTube appoints Web3-friendly exec as new CEO
YouTube could be set for a Web3 shake-up, given that the new CEO previously emphasized how many opportunities the sector could provide.
Brian Quarmby
Blur debuts long-awaited token
Blur has orchestrated three airdrops but not laid out a long-term plan for the tokens.
Lucy Harley-McKeown
Markets
Crypto Charts 100
Bitcoin Breaking to new yearly highs last week confirms that wave (v) is underway and we remain bullish for BTC in the coming weeks. It appears that a wave ii correction is underway and if it takes the form of a zig-zag look to buy at the $22′900 and add
Regulations
4 Huge Revelations in the SEC’s Charges Against Do Kwon and Terraform Labs
TerraUSD was a more overt and calculated fraud than was previously known – and Do Kwon is still cashing out.
David Z. Morris
Canada Close to Tightening Rules for Crypto Exchanges: Sources
The changes will ensure it’s simply too expensive to do business in Canada, said one person familiar with the plans.
Ian Allison
Former FTX exec Nishad Singh plans to plead guilty to criminal charges: Bloomberg
Nishad Singh would be the third member of Sam Bankman-Fried’s inner circle to plead guilty.
Stephanie Murray
No, Hong Kong Won’t Be Allowing Retail Traders Access to Crypto on June 1
A tweet suggesting the city will make crypto fully legal for all citizens is a misreading of the legislation.
Sam Reynolds
Bank of Russia to Pilot CBDC in April
Digital ruble payments will be launched for retail purchases and peer-to-peer transactions, a central bank official said.
Anna Baydakova