Grayscale Investments: Investments in crypto trusts tripled in this quarter
According to the latest quarterly report of Grayscale Investments, the interest of institutional investors in cryptocurrencies is growing.
Investments in the company’s crypto trusts was $ 254.9 million, the highest quarterly value to date. The report added that revenue tripled from the previous quarter, despite recent cryptocurrency price declines. 84% of the capital flow came from institutional investors, especially hedge funds.
Grayscale Investments allows investors to gain exposure to the price movement of Bitcoin and other altcoins. Its trusts are a traditional investment vehicle, without the hassle of custody and portfolios.
Bitstamp uses Ledger Vault for cryptocurrency storage
The Bitstamp exchange has announced that it will use the Ledger Vault to securely store its cryptocurrencies.
The flexible infrastructure of the Ledger Vault wallet will allow the platform to set up a secure and well-developed custody system that will support end-to-end hardware transfers.
Ledger said it would allow better management of the assets stored for Bitstamp. It will also implement a multi-authorization model to ensure that there are no vulnerabilities for the exchange.
Last week, Bitstamp announced that it will also use the custody services offered by BitGo.
The United Arab Emirates (UAE) Financial Markets Regulatory Authority (SCA) has published a draft bill for crypto assets.
According to an official statement of October 15, the agency is now waiting for feedback from the public, before finalizing the regulations. All parties involved in the crypto industry – including investors, brokers, financial analysts, researchers and the media – are invited to provide their views by October 29.
The project consists of 28 parts covering all aspects of the cryptocurrency industry. It includes provisions for token issuers, security and custody policies, measures to protect investors and combat financial crime, information security controls, and technology governance standards.
SEC seeks to block Telegram’s TON project
On October 11, the SEC announced that it had requested an emergency order to stop Telegram Inc. and Ton Issuer, Inc. to sell GRAM tokenuriel. The sale is described as a “continuous illegal offering of digital securities called Grams”. The SEC argued that tokens are not utility type and must be registered in order to be sold to US investors.
As part of the lawsuit, the SEC requested a temporary restraining order against the company to prevent it from distributing the tokens. The trial hearing will be held on October 24, 2019.
Telegram has raised $ 1.7 billion from 171 initial buyers, using a simple agreement for future tokens (SAFT). They used the funds to develop the TON Blockchain.
Investors expect the remaining GRAM tokens to be released on October 31.
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