In today’s crypto news, state-owned companies have reportedly wasted billions in Bitcoin investments, with Grayscale leading a group of over 10 publicly traded firms that invested more than $6 billion in Bitcoin in 2020. Coinbase is experiencing a significant shift as Chief Compliance Officer Jeff Horowitz departs, amidst an exodus of about 60 employees, roughly 5% of its workforce, reacting to CEO Brian Armstrong’s non-activist stance on social issues.
The trading volume for security tokens fell 60% in September, achieving $9.15 million, following a period of impressive growth earlier this year. Additionally, Stonecourt Asset Management recently acquired 10,000 Bitcoins as its main treasury reserve asset, signaling Bitcoin’s increasing institutional appeal. Meanwhile, Australia’s central bank is still evaluating the design and use of a Central Bank Digital Currency (CBDC).
In innovation, Coti has launched a decentralized market fear index for cryptocurrencies, named the CVIX, aimed at helping traders manage volatility. Furthermore, the Financial Stability Board has provided regulatory guidelines for global stablecoins, cautioning against their potential systemic risks. Lastly, the former cruise ship “Pacific Dawn” is being repurposed as a hub for digital nomads and crypto companies, named “Satoshi.”