Crypto Three Things (6/6)
Jun 6, 2022
1) Japan passes stablecoin legislation to protect investors: The Japanese government codified a stablecoin law after the Terra collapse shook the crypto realm, wiping away tens of billions of dollars. The law envisions that stablecoins will be defined as digital money and only licensed banks will be allowed to issue them, guaranteeing that holders can redeem them at face value. The new regulatory guardrails will take effect in 2023.
Titan’s Takeaway: The landmark legislation could prove to be an example for other countries like the U.S. to imitate as they attempt to regulate the cryptocurrency industry. Stablecoins, which currently represent a staggering $161B in aggregate market value, are generally crypto assets preferred for their safe-haven appeal so regulating the assets and creating a well-functioning asset class should be top of mind.
2) Bored Ape Yacht Club Discord server compromised: Over the weekend, an attacker made off with roughly 200 ETH ($360K) after they took hold of a community manager’s Discord account. The bad actor proceeded with posting phishing links across the project’s Discord groups, luring users with a promise of exclusive giveaways. Yuga Labs, the company behind the Bored Apes NFTs, confirmed the exploit and said it is actively investigating the incident.
Titan’s Takeaway: Whether it’s traditional web clients such as Discord, or Web3 platforms and bridges, crypto is an attractive target for bad actors. A recent report by the Federal Trade Commission estimated that over $1B has been stolen by crypto scammers since the start of 2021 – an alarming sign to prompt users to be careful and vigilant in their crypto activities.
3) Economist crypto survey highlights investors see growing demand: The “Digimentality 2022” report published by The Economist found that respondents considered digital assets useful tools for portfolio diversification. The study was completed by 3,000 consumers, 150 of whom were institutional investors. Web3 and the Metaverse, according to the poll, will also see an accelerated pace of growth.
Titan’s Takeaway: This report shines a light on a view we all share – crypto is here to stay. As the market continues to enjoy increasing capital inflows, it is only natural that the space will be grabbing more attention as its adoption rates go up.
Cash Management
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.