Showing 26 Result(s)

SEC’s Gensler floats routing equity trades to auctions to increase competition

Securities and Exchange Commission Chair Gary Gensler is considering new requirements to increase order-by-order competition. In remarks delivered at the Piper Sandler Global Exchange Conference today Gensler said he’s directed his staff to make recommendations around how to enhance order-by-order competition and mitigate conflicts that can arise when platforms use PFOF practices or rebates. That includes a potential auction practice unless investors are getting midpoint or better prices. “The listed options exchanges have operated auctions for retail orders for many …

Citadel Securities is gearing up to launch a crypto trading ecosystem for brokers

Citadel Securities, the market-making firm founded by billionaire Ken Griffin, is in preparations to launch a digital assets trading ecosystem for brokerages, according to a source with knowledge of the process.  Involved in the preparations are market-making firm Virtu as well as venture capital firms Sequoia Capital and Paradigm, the source said. CoinDesk first reported the details of the plan on Tuesday. Both Sequoia and Paradigm took part in a $1.15 billion funding round for Citadel Securities earlier this year, …

An Analysis of Crypto Equity ETFs

June 3, 2022, 1:33PM EDT • 6 min read Quick Take Crypto Equity ETFs reflect a promising solution for investors who wish to obtain exposure to the crypto space, thanks to the fact that these products are mostly made up of western publicly traded companies As these ETF products grow and attract more capital, they have become an increasingly attractive alternative for investors seeking liquid investment vehicles to interact with the crypto ecosystem The current regulatory environment regarding cryptocurrency investment …

Genesis is parking $75 million in capital into Maple’s Solana-based lending platform

Genesis Global, one of the crypto market’s biggest lending and trading firms, is ramping up its decentralized finance footprint by contributing $75 million to Maple’s Solana-based lending platform.  Genesis’ contribution to Maple Solana will make it the first centralized trading firm to serve as a pool delegate for its Solana-based platform. Maple launched its Solana platform earlier this year, having also run a lending platform on Ethereum as well.  Trading firms Wintermute and Amber Group plan to borrow from the …

FTX says farmers don’t need to worry about its US derivatives proposal

As FTX looks to convince market participants to get on board with its proposal to launch crypto-tied derivatives in the US, there’s one unusual group the exchange operator is looking to assuage: American farmers. FTX president Brett Harrison took to Twitter this weekend to comment on an article published by the Financial Times that highlighted the concerns of some groups in the agricultural industry. While FTX and its American affiliate FTX.US are known for operating in digital assets, FTX’s proposal …

Why this 59-year-old security firm thinks your crypto belongs in its vault

Quick Take The Block got a tour of Malca-Amit’s London vault, where it’s starting to embrace crypto custody by storing cold wallets. The firm sees an opportunity as less than 1% of the global crypto market is currently insured. This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

CFTC roundtable on FTX proposal highlights barriers in clearing of digital vs physical assets

Cotton or oil markets cannot settle like Bitcoin — a fairly obvious point, but the distinction between the two was at the center of a May 25 roundtable hosted by the Commodity Futures Trading Commission. The roundtable centered on the CFTC’s consideration of a proposal from crypto exchange FTX to disintermediate derivatives trading on its platform.  Stakeholders from the derivatives trading industry appeared in force, with representatives from exchange operators CME and ICE joined by others from Citi, Goldman, FTX, …

Is the 24/7 crypto market good or bad for traders? Experts disagree.

As the TerraUSD stablecoin was losing its peg to the dollar last week, one high-profile crypto critic posted a tweet warning about one of the crypto market’s signature features. “Crypto trades 24/7. This is not necessarily a good thing and we may soon find out why,” said Ben McKenzie, an actor best known for his role in the crime drama Gotham, who is now working on a book about crypto and fraud. McKenzie is of course correct that, unlike equities …

Binance confirms its working to win German regulatory approval

Cryptocurrency exchange Binance said it’s in talks to become regulated in Germany as it engages with regulators across Europe, confirming reports from February that the company was looking to become regulated in the country. Speaking at the Finance FWD Conference in Hamburg, Binance CEO Changpeng Zhao said he was hopeful about the prospect of winning regulated status in Germany.  “We hope to get a licence in Germany,”  he said. “Our team is definitely talking to regulators and based on secondary …

Grayscale set to roll out first European ETF

Grayscale Investments announced on Monday it is set to make a play for Europe, with its first exchange traded fund (ETF) in the region.  The product, known as the Grayscale Future of Finance UCITS ETF, tracks the investment performance of the Bloomberg Grayscale Future of Finance Index, the firm said in a release.  It seeks to offer investors exposure to companies at the intersection of finance, technology and digital assets — companies that the firm says are building the digital …