Stake Financial News

Huobi founder and controlling shareholder Leon Li Lin will sell its entire stake in the Seychelles-based crypto exchange to About Capital Management, a Hong Kong-based assets management company.

 

Digital asset lending platform Nexo has purchased a stake in a holding company that owns a federally chartered bank in the United States — a move Nexo said will enhance its ability to serve retail and institutional clients. 

Cryptocurrency lender Nexo on Tuesday announced it has taken a stake in a federally-regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.

 

Australia-based crypto mining firm Iris Energy has signed a deal with B. Riley giving the capital market company the option to purchase up to 25 million of its shares.

Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one of the most popular blockchains, sitting in the top 10 blockchains by total value locked (TVL) with $1.3 billion in TVL. 

Advent International has snapped up a 60% stake in Chinese food and bakery chain Wagas.

According to Wave Financial, securing a minority stake is the first step towards a full acquisition of the company, which it hopes to complete by the end of 2022, pending regulatory approval. 

Transitioning the Ethereum blockchain from proof-of-work to proof-of-stake has reduced its energy usage by more than 99% — and many climate activists have called for Bitcoin to follow suit. 

In this week's episode of Market Talks, we welcome Julian Hosp, CEO and co-founder of Cake DeFi.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

The Ethereum Merge has officially taken place, marking the full transition of the network to proof-of-stake (PoS). 

FTX Ventures, an arm of Sam Bankman-Fried’s FTX crypto exchange, will acquire a 30% stake in alternative asset manager SkyBridge Capital, the firms announced Sept. 9. The terms of the deal were not disclosed, but SkyBridge will use $40 million of the proceeds to purchase cryptocurrencies to hold as a long-term investment, according to a statement. 

According to Wave Financial, securing a minority stake is the first step towards a full acquisition of the company, which it hopes to complete by the end of 2022, pending regulatory approval. 

Ethereum co-founder Vitalik Buterin and Coinbase CEO Brian Armstrong believe that a gradual mind shift and important community contributions led to their backing of Ethereum’s upcoming move from a proof-of-work (PoW) to proof-of-stake (PoS) consensus.

Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF. 

 

 

Thailand’s oldest bank has scrapped plans it first announced in November 2021 to become the majority shareholder of crypto exchange Bitkub.

It is the first and only digital securities exchange that has won approval from the FCA with permissions covering trading, custody and brokerage and will launch later this year.Stephen Bird, CEO, abrdn, says: “Blockchain technologies are inevitably going to form a big part of the future of financial markets. There is the potential to offer greater transparency, greater speed and less trading friction by using these nascent digital technologies."Abrdn plans to use Archax as a route through which investors can access new investment opportunities through digital securities, connect to existing offerings in a new way through tokenisation and facilitate a shift towards greater operating efficiencies through the adoption of new technologies like blockchain.“With Archax, we will have a meaningful footprint in this fast-developing market - which is likely to evolve in a multitude of different ways that are relevant to our core businesses," says Bird.Despite the onset of a crypto winter, asset managers are looking to get in on the sector.