Crypto Three Things (6/7)

Tuesday, Jun 7th 2022


“Initiative is doing the right thing without being told.” ― Victor Hugo

1) Indonesian exchange Pintu raises $113M in an effort to become the Coinbase of Southeast Asia: The number of crypto investors in Indonesia has doubled from ~6M in early 2021 to over 12M in Feb of this year. The funds will be used for local expansion, product development, and educational initiatives. Pantera Capital, Lightspeed, Northstar Group, and Intudo Ventures led this fundraising round. 

Titan’s Takeaway: Indonesia’s crypto adoption has been steadily climbing over the past few years. We expect local currency inflation, young demographics, rising middle class, and a broad interest in digital assets are paving the way for more crypto adoption down the road.

2) SEC takes aim at Binance’s token over potential securities rules violations: Binance’s BNB token is being investigated by the Securities and Exchange Commission to find out whether it was registered as a security at the time of its initial coin offering (ICO) in 2017 or if there have been trading abuses made by insiders. The token is currently ranked fifth globally and boasts a market capitalization of ~$47B.

Titan’s Takeaway: We believe SEC checks and balances like this will be necessary for the continued growth of the digital asset space and increased investor protection from fraudulent activities. Plus, the quicker regulators introduce actionable policy, the faster the semantics will stop.

3) Cryptio raises $10M in a Series A to make crypto accounting and reporting easier: Cryptio’s products help financial institutions and crypto companies collect fragmented on-chain data for accounting, treasury, and tax reporting purposes. More than 200 companies are currently using the company’s platform. The Europe-based company received backing from Point Nine and other participants such as CoinShares and BlueYard Capital.

Titan’s Takeaway: Cryptocurrency accounting is undoubtedly a thorny issue; Cryptio has taken up a challenging task that has the potential to blur the lines between traditional financial services and crypto activities.

Back to Research ↗

Learn with titan

Investment articles and resources

Become the smartest investor you've ever been through straightforward, easy-to-read investment articles.

What Is Socially Responsible Investing (SRI)? ↗

What Is a Brokerage Account & How Do You Open One? ↗

How to Save for Retirement in Your 50s ↗

What Is a Stock Exchange & How Does It Work? ↗

Let's Get Started

Ready to become a client?

Create an account with us in two minutes.

Or scan to get the app

â—Ź We're building the best investment platform, ever

Refer to Titan's Program Brochure for more information. Certain investments are not suitable for all investors. Before investing, consider your investment objectives and Titan’s fees. 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. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members FINRA/SIPC. For more information, see our disclosures. Contact: 508 LaGuardia Place NY, NY 10012. Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice. Check the background of these firms on FINRA's BrokerCheck.

© Copyright 2022 Titan Global Capital Management USA LLC. All Rights Reserved.