DeFI News by Thebittimes.Com

With the latest move, the U.K. hopes to bolster liquidity in its asset management market. British investment managers have received an approval to develop tokenized funds with the help of blockchain technology as the country seeks to benefit from the global digitization trend. As reported by Reuters, investment managers in the U.K. have been authorized by the Financial Conduct Authority (FCA), the financial services regulator, to start offering tokenized funds, albeit for mainstream assets only. Michelle Scrimgeour, who is the sitting chair of a working group tasked with aligning with the FCA on the matter, told the press that fund tokenization has “great potential to revolutionize how our industry operates, by enabling greater efficiency and liquidity, enhanced risk management and the creation of more bespoke portfolios.” You might also like: UK treasury secretary unveils new law to strengthen digital asset industry The move is expected to help the U.K. to...

“We could not sleep properly for a few days,” said Jaime Zulueta, as he told Cointelegraph the story of how he and his wife dealt with losing their funds at FTX. While it’s undeniable that companies were significantly affected by the FTX debacle, retail investors like Jaime Zulueta – who recently just got married – also bore the burden of trusting a trading platform that ended up collapsing to oblivion.  Speaking to Cointelegraph, Zulueta told the story of how he and his wife dealt with the challenge of losing some of their Investments right after their wedding . According to the crypto investor, he first found out about the exchange because it was popular in Taiwan, his partner’s home country. “Prior to using the platform I also read the numerous media articles on FTX and its founder Sam Bankman-Fried,” he added. When asked about how they felt when they found out about the collapse of FTX, Zulueta said that he was "saddened and surprised" because some of their personal fu...

According to reports, crypto infrastructure firm Blockstream is seeking funds at a much lower valuation than earlier. Blockstream raised $210 million in August 2021 in a Series B investment round. At the time, the firm was valued at $3.2 billion. According to the report, the company’s worth has dropped by roughly 70% to less than $1 billion. Crypto infrastructure company Blockstream is raising fresh funds at a lower valuation than at its most recent financing as the collapse of FTX exacerbates a challenging venture capital backdrop https://t.co/OzGJzzip44 — Bloomberg (@business) December 6, 2022 Adam Back, CEO of Blockstream, would not disclose the specifics of the investment round. However, he did say that the funds would be used to increase the company’s crypto -mining capacity. For those who do not know, Back is one of the suspected identities of Bitcoin creator Satoshi Nakamoto. Back stated, “We rapidly sold out all...