The Nasdaq stock exchange recently indicated the launch of its custody service for cryptocurrencies that will benefit institutional clients. This was indicated to the media by the vice president of the organization, Tal Cohen, who added that Ira Auerbach, who comes from Gemini, will be in charge of this division.

The move represents a big step in the cryptocurrency ecosystem. At the moment, it will offer a custody service for Bitcoin and Ethereum. But it is planned to diversify into other digital assets.

The development of the crypto custody solution is in charge of the Nasdaq Digital Assets section. Corporate clients will subsequently have liquidity and execution services. Cohen told Diario Bitcoin: “I can’t think of a better place to bring that trust and brand to the market than Nasdaq.”

Despite the fact that the second stock market in the United States is still awaiting approval by the New York Department of Financial Services (NYSDFS), the expressions of enthusiasm from the ecosystem have not been long in coming.

Auerbach, who is in charge of the new digital asset section, told Bloomberg: “We think this next wave of the revolution will be driven by mass institutional adoption.”

M.Pino

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Source: hispanopost

La entrada Nasdaq launched Bitcoin and Ethereum custody service for institutional clients apareció primero en Bitfinance.

Polestar manufacturer of premium electric cars, of Swedish origin, will debut this Friday on the New York Stock Exchange, considered the world’s stock market, through a partnership with “Gores Guggenheim, a Special Purpose Acquisition Company (SPAC), in one of the most common modalities in recent times to enter the stock market.

The companies estimate to get some 850 million pains in its launch and to date have managed to book “at least a maximum of 25 percent in the preliminary round.”

Thomas Ingenlath, CEO of Polestar, indicated that the automotive company will be listed on the Nasdaq, which is a benchmark market for technology shares and a true “milestone” for the company. “We are excited about the future of Polestar and will continue to build world-class electric cars, expanding into more markets around the world.”

Separately, Alec Gores, Chairman of the Gores Guggenheim Investment Fund, which currently manages some $800 million in assets, added: “We are proud of the momentum Polestar has generated in recent months.”

The brand of the Asian giant

In 2017, the Swedish automobile leader Volvo founded an automotive brand, which was established as a new independent manufacturer, with expansion in the luxury car segment and is part of the Chinese group Geely, one of the great global market dominators.

The car models manufactured by Polestar are made in two of Geely’s factories, the Asian giant, although the company plans to build a plant in the United States.

By 2023, the Polestar company, in its expansion strategy, plans, in addition to building the factory in the United States, to venture into 30 different world markets and although it currently only has two car models; the Polestar 1 and 2. It plans to launch three new models in the next two years.

M. Rodríguez

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Source: finanzas.com

La entrada Polestar debuts on the New York Stock Exchange apareció primero en Bitfinance.

The US-based securities trading platform NASDAQ has announced the base price of Coinbase shares at an estimated USD 250 per unit and will begin trading as of today April 14th.

This was indicated by NASDAQ in a report published yesterday where it revealed that the aforementioned price does not correspond to the offer value, and that at the moment no person or entity has bought the shares of Coinbase at that price.

In this sense, the public opening price will be determined according to the purchase and sale in the auction organized by the NASDAQ team.

Estimates do not match

The price established by NASDAQ for Coinbase shares has turned out to be 27 % lower than the last price on the private secondary markets, in which it was estimated at an average of USD 343 per share.

Despite this, analysts estimate a total valuation for Coinbase of $ 66.5 billion, provided the company issues a total of 266.2 million shares for commercial operations.

K. Villarroel

Source: diariobitcoin

La entrada NASDAQ announced that Coinbase shares are trading at $ 250 per unit apareció primero en Bitfinance.

The US cryptocurrency trading platform Coinbase, owned by BBVA since 2015, has registered with the United States Securities Market Commission (SEC) an amendment to the prospectus to go public on the Nasdaq Global Select Market, specifying that shareholders of the company will resell up to 114.85 million Class A shares, which will trade under the symbol ‘COIN’.

The transaction will be carried out through the direct listing mechanism, less expensive than traditional IPOs, since it is characterized by the sale of existing shares held by shareholders instead of the issuance of new titles, and by which companies can be listed without increasing capital and without the services of a bank that acts as an intermediary or subscriber of the operation, thus avoiding the ‘roadshow’ and setting an initial price.

“Registered shareholders may choose to sell their Class A common shares covered by this prospectus to the extent that they determine,” the company notes.

Participation in the market

Coinbase clarifies in the prospectus that it has class A and class B common shares, with identical rights, except with respect to voting and conversion rights, since each class A share has the right to one vote, while each share Class B is entitled to 20 votes and is convertible at any time into Class A ordinary shares.

Thus, holders of outstanding class B common shares own approximately 99.2 % of the voting power of Coinbase’s outstanding capital stock.

Coinbase warns that “there is currently no public market for class A common shares”, although it stresses that both classes of securities have a history of trading in private transactions, which in the first quarter of 2021 registered a price lower than $ 200  and the higher of $ 375.01, which means a weighted average price of $ 343.58.

K. Tovar

Source: dpa

La entrada Coinbase files SEC amendment to enter Nasdaq apareció primero en Bitfinance.

Renowned Asia-based digital asset financial services firm Diginex has announced the launch of a cryptocurrency called EQUOS Origin (EQO), making it the first Nasdaq-listed company to also issue its own crypto asset.

Those users who wish to participate in Diginex and win a token will have to trade from the cryptocurrency exchange EQUOS itself. Another option is by staking on the exchange, for which a minority part of the daily allocation will be sent to the EQUOS treasury.

According to the announcement, the coin, which lacks supply or mining capacity, is in line with EQUOS “values ​​of transparency, justice and equality” and also “is issued specifically to boost activity, volume and balances in the platform. It has been carefully designed to incentivize traders to trade and holders to maintain and bring balances to the platform,” as stated by CEO Richard Byworth.

Diginex says bitcoin will reach $ 175,000

The Diginex CEO assures that according to his company’s projections the popular cryptocurrency could reach $ 175,000 by the end of the year, highlighting that the growing interest of companies has been key in this process.

He stressed that currently there are “macro hedge fund managers who have been in this space for some time. Now you’re starting to see some of the bond types get involved in this space.”

K.Villarroel

Source: elaxioma

La entrada Diginex is listed on Nasdaq with the EQUOS Origin (EQO) token apareció primero en Bitfinance.

This Wednesday, March 3, Walt Street fell sharply due to losses of the large technology companies in the market, and according to its main indicator, the Dow Jones, its cut was 121.43 points and stood at 31,270.09 units with decreases in important listed securities.

The selective S&P 500 fell by 1.31 %, which is equivalent to 50.57 points, just reaching 3,819.72 units. As for the composite index of the Nasdaq market, which brings together the main technology companies, it fell a notable 2.70 % or 361.04 points, to 12,997.75 units.

Technology sector is affected

In this sharp drop, the technology sector was the most affected by -2.49 %, followed by non-essential goods with -2.38 %. The communications sector closed at -1.59 %, in contrast to the gains of energy and financial, with 1.43 % and 0.75 %, respectively.

According to Oanda analyst Ed Moya, “the Treasury market is not going to ignore the growing optimism that is being seen on Wall Street.”

Moya also assured that “several banks (…) have raised their GDP growth forecasts in the United States for 2021 after the Biden administration made small promises and produced great results in terms of Covid-19 vaccines for the Americans.”

K. Villarroel

Source: bancaynegocios

La entrada Walt Street closed in red due to losses of big technology apareció primero en Bitfinance.