Global Macro

Kakao to Record Private Securities on Its Own Blockchain as NFTs

South Korean internet giant Kakao’s blockchain arm Ground X is now storing and verifying unlisted investments as nonfungible tokens (NFTs) on its public blockchain. Unlisted investments are shares of startups that are offered to investors for purchase prior to a public offering. Since these securities are not listed on formal markets, they are traded over …

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New Emerging Markets Fund Targets Blockchain, DeFi Startups

Asset management firms Alpha Innovations and Arcanum Capital have launched a $10 million venture capital fund focused on driving blockchain innovation in emerging markets.   The Arcanum Emerging Technologies Fund is to be the first of a series, with an initial close expected in late February, according to a company statement. The fund will provide seed …

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Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New

The Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after a regulatory warning to local banking institutions on Friday sent shockwaves through social media.  In Sunday’s statement, the CBN said Friday’s letter was only a reminder that cryptocurrencies were not legal tender in Nigeria, and was reiterating a …

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Following GameStop, South Korea Financial Regulator Extends Ban on Short Sales

South Korean retail investors pointed to the U.S. GameStop saga to pressure local regulators to extend the country’s ban on short-selling stocks. They succeeded, at least for now.  Then, GameStop happened.  In January, retail investors in the U.S. banded together on Reddit to bet in favor of stocks (like that of American video game store …

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Myanmar Military Blocks Facebook as Global Internet Disruptions Intensify

The new military government in Myanmar has reportedly ordered telecommunications companies to temporarily block access to Facebook citing the platform is a threat to the restoration of stability in the country, as part of a broader effort to restrict internet access following a coup last month.  The nonprofit internet shutdown tracker NetBlocks confirmed that access …

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All Over the World, Small Investors Jump Into the GameStop Frenzy

The world is watching U.S. markets with great interest, and more than a little FOMO, as Reddit investors continue to test their might against Wall Street. It all started when retail investors on the Reddit community wallstreetbets began pumping the price of U.S. video game retailer GameStop’s (GME) stock to counter Wall Street hedge funds …

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Bitcoin and Inflation: Everything You Need to Know

Crypto enthusiasts often talk about bitcoin as a hedge against inflation. Why? The argument is that central bank money printing will lead to inflation or the decrease in the value of money over time. Bitcoin, by contrast, has a fixed limit of 21 million coins that can ever be created. This limited supply allows bitcoin …

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Japan Rallies Behind XRP as Ripple Faces US Litigation

“I’m not selling,” Makoto, a Japanese entrepreneur and XRP investor, told CoinDesk. Makoto first bought the digital token XRP in 2017, a year after its issuer, San Francisco-based Ripple Labs, launched a joint venture with one of Japan’s most respected financial services institutions, SBI Holdings Inc.  Soon after, the popularity of XRP soared in Japan.  …

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