Positioning builds above support, but will liquidity hold if leverage crowds in?
BitcoinWorld Ricursive Intelligence’s Meteoric Rise: How an AI Chip Design Startup Secured $335M and a $4B Valuation in Just Four Months In a funding spectacle that has captivated the semiconductor and artificial intelligence sectors, Ricursive Intelligence has demonstrated a staggering trajectory. The startup, founded by AI pioneers Anna Goldie and Azalia Mirhoseini, announced a $300 million Series A round at a $4 billion valuation in April 2025. This landmark deal, led by Lightspeed Venture Partners, arrived merely two months after a $35 million seed round led by Sequoia Capital, culminating in a total of $335 million raised within four months of launch. The rapid ascent underscores a seismic shift in how the foundational hardware for AI is created, moving from human-centric design to AI-driven automation. The Foundational Pedigree Behind Ricursive Intelligence The co-founders’ reputations provided the bedrock for investor confidence. Anna Goldie (CEO) and Azalia Mirhoseini (CTO) are luminaries within the AI research community, with careers that have moved in remarkable synchrony. Their professional journey began at Stanford University and continued at Google Brain, where they started on the same day. Subsequently, they joined AI safety lab Anthropic together, returned to Google, and ultimately departed to found Ricursive Intelligence—all on identical dates. Their most celebrated contribution is the Alpha Chip project at Google. This AI tool revolutionized chip design by generating high-quality semiconductor layouts in approximately six hours—a task that traditionally consumes human engineering teams over a year. The technology was instrumental in designing multiple generations of Google’s proprietary Tensor Processing Units (TPUs), which power its AI services. This proven track record in delivering production-ready technology directly translated into immense investor trust. Redefining the AI Hardware Landscape Ricursive Intelligence operates in a unique niche. Unlike numerous startups aiming to challenge Nvidia’s dominance in GPU manufacturing, Ricursive builds the AI tools that design the chips themselves . This strategic distinction makes them a potential partner to, rather than a competitor of, industry giants. Notably, Nvidia is an investor, alongside AMD and Intel, all of whom represent the startup’s target customer base. “We want to enable any chip, like a custom chip or a more traditional chip, to be built in an automated and very accelerated way. We’re using AI to do that,” CTO Azalia Mirhoseini explained. The company’s platform aims to handle the entire design process, from initial component placement through final verification, utilizing large language models (LLMs) and reinforcement learning. The Alpha Chip Legacy and Technical Breakthrough The core technology expands upon their Google research. The Alpha Chip system used a reward-based reinforcement learning model. An AI agent would propose a chip layout, receive a “reward signal” rating its quality, and then update its neural network to improve. After thousands of iterations, the agent achieved unprecedented speed and efficiency. Ricursive’s commercial platform seeks to generalize this learning across different chip architectures. Each design it completes theoretically enhances its capability for the next, creating a compounding knowledge base. This approach directly tackles the immense complexity of modern chips, which contain billions of microscopic components that must be placed for optimal performance and power efficiency. Market Impact and the AGI Ambition The funding surge reflects a critical bottleneck in the AI industry: chip design cycles are too slow . The lengthy, manual process of designing application-specific integrated circuits (ASICs) constrains the rapid iteration of AI models. Ricursive posits that by drastically accelerating hardware design, they can enable a “fast co-evolution” of AI models and the chips that power them. “Chips are the fuel for AI,” stated CEO Anna Goldie. “By building more powerful chips, that’s the best way to advance that frontier.” The founders’ long-term vision involves AI designing increasingly sophisticated hardware for AI, a recursive loop that could contribute to progress toward Artificial General Intelligence (AGI). More immediately, the technology promises significant gains in hardware efficiency, potentially delivering up to a 10x improvement in performance per total cost of ownership for AI labs. Overcoming Controversy and Industry Reception The path hasn’t been without friction. During their time at Google, their Alpha Chip work attracted internal controversy, including a campaign by a colleague to discredit their research—a situation detailed in a 2022 Wired report. Despite this, the technology proved its worth in creating Google’s most critical AI chips. Today, industry reception appears overwhelmingly positive. While Ricursive remains discreet about its early customers, the founders confirm engagement with “every big chip-making name you can imagine.” The startup has its pick of development partners, indicating strong market demand for its disruptive solution. Conclusion The story of Ricursive Intelligence is more than a record-breaking funding round. It represents a pivotal moment where AI turns its capabilities inward to optimize its own physical infrastructure. By raising $335 million at a $4 billion valuation in just four months, Goldie and Mirhoseini have validated a powerful thesis: the future of semiconductor advancement lies in AI-driven design automation. Their work could ultimately reduce the resource footprint of AI expansion and accelerate the entire field’s development, making Ricursive a company to watch as the hardware and software of intelligence continue to merge. FAQs Q1: What does Ricursive Intelligence actually build? Ricursive builds AI software platforms that automate and accelerate the design of computer chips. They do not manufacture physical chips but create the tools that chip makers like Nvidia, Intel, and AMD use to design them. Q2: Why is Ricursive’s $4 billion valuation significant after only four months? The valuation reflects extreme investor confidence in the founders’ proven track record (from Google’s Alpha Chip), the urgent market need to speed up chip design, and the company’s unique position as a toolmaker for the entire semiconductor industry rather than a direct competitor. Q3: How does Ricursive’s AI chip design technology work? It uses reinforcement learning. An AI agent generates a chip layout, receives a score on its quality, and learns from that feedback to improve future designs. The system learns across multiple projects, becoming faster and more efficient over time. Q4: Who are the main investors in Ricursive Intelligence? The $35 million seed round was led by Sequoia Capital. The $300 million Series A round was led by Lightspeed Venture Partners. Strategic investors also include major chipmakers like Nvidia, AMD, and Intel. Q5: What is the potential broader impact of AI-designed chips? Faster chip design can accelerate AI innovation overall by allowing hardware to evolve in tandem with software models. It could also lead to more energy-efficient chips, reducing the massive computational resource consumption of current AI development. This post Ricursive Intelligence’s Meteoric Rise: How an AI Chip Design Startup Secured $335M and a $4B Valuation in Just Four Months first appeared on BitcoinWorld .
BitcoinWorld Crypto Institutional Investment: The Profound Shift from Speculation to Strategic Portfolio Management NEW YORK, March 2025 – The cryptocurrency landscape is undergoing a profound and fundamental transformation, moving decisively beyond its volatile adolescence. According to a pivotal new report from global asset manager WisdomTree, the market’s character is shifting from one dominated by retail speculation to one increasingly defined by strategic crypto institutional investment . This evolution signals the end of an era defined by boom-and-bust cycles and heralds a new phase of maturity, reduced volatility, and integration with traditional finance principles. Crypto Institutional Investment Marks a New Market Phase WisdomTree’s analysis, released this week, presents a compelling argument that the digital asset market has conclusively exited its initial “growth phase.” Consequently, the report states that the period where prices were primarily driven by the sentiment and trading patterns of individual retail investors has ended. Instead, institutions like hedge funds, asset managers, and corporations are now taking a leading role. This leadership shift is fundamentally altering the market’s focus. The primary question is no longer about short-term price speculation. Instead, the focus has shifted toward long-term value, risk assessment, and how digital assets fit within broader portfolio management frameworks. This transition mirrors the maturation paths of other asset classes, such as equities or commodities. Initially, these markets also experienced high volatility driven by speculative fervor before institutional participation brought deeper liquidity, more sophisticated trading strategies, and a focus on underlying fundamentals. For cryptocurrency, this shift is evidenced by several key developments over the past 24 months: The launch and massive growth of spot Bitcoin and Ethereum ETFs in the United States and other major jurisdictions, providing a regulated, familiar conduit for institutional capital. Increased corporate treasury allocations to Bitcoin as a non-correlated store of value, following the path pioneered by companies like MicroStrategy. The development of complex derivatives and structured products tailored for institutional risk management and yield generation. The Direct Impact on Market Volatility and Stability A direct and measurable consequence of rising institutional crypto adoption is a notable reduction in market volatility. Retail-driven markets are often prone to emotional trading, herd behavior, and reactionary moves based on social media trends. In contrast, institutional investors typically operate with longer time horizons, larger capital bases, and strict risk management protocols. Their participation adds depth and stability to order books. For instance, data from crypto volatility indices shows a significant downward trend in the 30-day realized volatility of major assets like Bitcoin since the ETF approvals. While price swings still occur, their magnitude and frequency have decreased. This creates a more predictable environment that is conducive to further institutional entry, creating a virtuous cycle of stabilization. The table below illustrates this comparative shift in market drivers: Era Primary Driver Key Characteristic Typical Volatility Pre-2023 (Retail Speculation) Social media sentiment, meme coins, leverage trading Boom-and-bust cycles, high correlation to hype Very High Post-2024 (Institutional Phase) Macroeconomic data, regulatory clarity, portfolio strategy Gradual trends, decoupling from pure speculation Moderate to Declining The Evolving Role of Regulation as a Filter, Not a Barrier WisdomTree’s report crucially reframes the narrative around regulation. In the market’s earlier years, regulatory uncertainty was often viewed as the primary barrier to institutional adoption. However, the current landscape tells a different story. The implementation of clearer frameworks—such as the EU’s MiCA regulation and evolving guidance from the SEC and CFTC—now acts more as a filter than a barrier. These regulations effectively separate compliant, well-structured projects and service providers from those that are not. For serious institutional players, this clarity is essential. It provides the legal certainty required for custody solutions, auditing, and reporting. Consequently, the core debate within finance has evolved. The question is no longer whether to hold digital assets, but rather how to utilize them effectively within an investment strategy. Analysts now discuss optimal allocation percentages, hedging strategies, and the distinct roles of different crypto assets, much like they would with equities, bonds, or real estate. Evidence and Expert Perspectives on the Structural Shift This analysis is supported by tangible on-chain and financial data. Blockchain analytics firms report a steady increase in the average size of transactions on major networks, indicating larger, likely institutional, movements of capital. Furthermore, the growth in assets under management (AUM) for crypto-focused funds and the daily volume of spot ETFs provide concrete, verifiable metrics of institutional engagement. Financial experts outside of WisdomTree echo this sentiment. For example, analysts at Fidelity Digital Assets have published research highlighting how Bitcoin’s correlation with traditional assets shifts during different market regimes, a analysis of primary interest to portfolio managers. Meanwhile, firms like BlackRock and Goldman Sachs have expanded their digital asset divisions, offering clients research and products centered on digital asset portfolio management . This professionalization of the ecosystem is a hallmark of a maturing market. The timeline of this shift is also instructive. The pivotal moment can be traced to late 2023 and early 2024, with the regulatory green light for spot crypto ETFs in the United States. This event served as a catalyst, unlocking trillions of dollars in potential institutional capital that had been waiting for a secure, familiar entry point. The subsequent months have seen a consolidation of this trend, with traditional finance (TradFi) infrastructure rapidly integrating with decentralized finance (DeFi) protocols to create hybrid, institution-friendly services. Conclusion The WisdomTree report crystallizes a transformation that has been building for several years: the cryptocurrency market is being reshaped by crypto institutional investment . This shift from retail-driven speculation to institution-led strategic allocation is reducing volatility, elevating the discourse to portfolio management principles, and reframing regulation as a stabilizing filter. While the market will always retain elements of innovation and risk, its core is aligning with the disciplined frameworks of traditional finance. This maturation suggests that digital assets are securing a permanent and growing role within the global financial system, moving from the fringe to the portfolio. FAQs Q1: What does WisdomTree mean by the “growth phase” of crypto being over? WisdomTree uses this term to describe the market’s initial period, which was characterized by explosive, hype-driven price rallies followed by severe crashes, primarily fueled by retail investor speculation. The end of this phase indicates a move toward price discovery based more on fundamentals, utility, and institutional adoption. Q2: How does institutional investment actually reduce crypto volatility? Institutions typically trade with larger amounts of capital over longer timeframes, using sophisticated risk management. Their presence adds depth and liquidity to markets, making prices less susceptible to sharp moves caused by the actions of a few large retail traders or social media trends. Q3: What are some clear signs of this institutional shift happening right now? Key signs include the massive trading volumes and asset growth in spot Bitcoin and Ethereum ETFs, major banks offering crypto custody services, public companies adding Bitcoin to their treasuries, and the development of complex financial derivatives (like options and futures) for digital assets on regulated exchanges. Q4: Does this mean retail investors are no longer important in the crypto market? Not at all. Retail investors remain a vital part of the ecosystem for adoption, innovation, and liquidity. However, their influence on overall market direction and volatility is becoming balanced by the scale and strategy of institutional capital, changing the market’s dominant dynamics. Q5: How has the regulatory landscape changed to support this shift? Regulation has moved from a state of widespread uncertainty to more defined, though still evolving, frameworks (e.g., MiCA in the EU). These rules provide the legal clarity institutions require for custody, compliance, and reporting, effectively filtering the market toward more robust and transparent projects. This post Crypto Institutional Investment: The Profound Shift from Speculation to Strategic Portfolio Management first appeared on BitcoinWorld .
Elon Musk has alleged that Jeffrey Epstein launched a campaign to short Tesla and persuaded Bill Gates to take a 1% short position when the company’s market cap stood at about $40 billion. The allegation comes as the US Department of Justice released roughly three million pages of Epstein-related records, naming several billionaires, including Musk and Gates. The documents viewed by Cryptopolitan show email exchanges between Elon Musk and Jeffrey Epstein dating back to 2012 and 2013. While there has been no confirmation that any such visit occurred, the messages contradict Musk’s long-standing insistence that he didn’t know Epstein well. However, to some extent, the files favored him as they revealed that SpaceX servers began rejecting Epstein’s emails in 2014. Musk later confirmed on X that he cut off communication. Yup 😂 That really made him upset. After I ghosted him, Epstein went on a massive campaign to short Tesla and got Gates to short 1% of Tesla stock when the market cap was $40B. As far as I know, Gates still has the short open. Someone should ask him how that’s working out 🤗 — Elon Musk (@elonmusk) February 16, 2026 Responding to a user who claimed Epstein had been aggressively sending invitations, Musk wrote , “Yup That really made him upset. After I ghosted him, Epstein went on a massive campaign to short Tesla and got Gates to short 1% of Tesla stock …” Musk calls out Gates for taking Epstein’s advice to short Tesla Musk weighed in on the post, once again bringing attention to the 1% short position of the company’s total shares outstanding that he claimed Gates has held against Tesla for the past eight years. “As far as I know, Gates still has the short open. Someone should ask him how that’s working out,” Musk wrote. In December, Musk claimed that the position has since cost the Microsoft co-founder as much as $10 billion, as Tesla shares soared over the past few years. Tesla shares most recently closed at $417.44, with the stock up 17.3% over the past year and 100.4% over the past three years. Several other institutional investors have changed their positions in TSLA. Vanguard Group Inc. increased its stake in Tesla by 0.4% during the third quarter. Geode Capital Management LLC grew its holdings in shares of Tesla by 2.0% during the 2nd quarter. Additionally, Norges Bank purchased a new position in Tesla in the second quarter valued at approximately $11,839,824,000. Legal & General Group Plc lifted its position in Tesla by 5.9% during the second quarter. Amundi also increased its Tesla shareholding by 20.4% in the second quarter. Meanwhile, Tigress Financial analyst Ivan Feinseth initiated coverage with a Buy rating and $550 price target, implying 31.9% upside potential. On the other hand, Morgan Stanley analyst Andrew Percoco maintained his Hold rating and $415 price target, suggesting that shares are fully valued at current levels. Epstein advises on the structure of Tesla A batch of DOJ documents shows that Epstein was involved with Tesla in 2018. Musk posted on social media that he was “considering taking Tesla private” in a move that never came to fruition. One of the CEO’s surrogates was sounding out Epstein for advice on financing the deal and potential board members for a reorganized Tesla . They also went back and forth over Musk’s leadership qualities. That year, Musk was having a rough time. His companies were struggling, and his behavior on social media was becoming increasingly unpredictable, which seemed to be hurting his public image. Musk took counsel from the high-powered former lobbyist and corporate consultant Juleanna Glover as he sought to limit blowback. It was Glover who would later backchannel with Epstein about a plan to take Tesla private. The idea of buying Tesla was sketchily outlined in another of Musk’s now-infamous tweets. “Am considering taking Tesla private at $420,” he posted in August. This tweet caused a backlash because he had not secured those funds. On September 27, the US SEC filed fraud charges against Musk, alleging “securities fraud for a series of false and misleading tweets.” Musk quickly settled to the tune of a $20 million fine, with Tesla paying an equal penalty, and stepped down as chairman of the electric vehicle company. In the weeks between Musk’s tweet and the SEC charge, Glover was working behind the scenes to make the deal a reality and sought Epstein’s counsel. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
We’re excited to announce we will sponsor Trump Accounts for every child born in Wyoming in 2026 by making a financial contribution to each account, helping families start building long-term savings and capital formation from birth. This commitment reflects our belief that the United States should continue modernizing financial services by expanding access, strengthening participation, and giving more Americans a simple pathway to benefit from long-term compounding. Kraken Co-CEO Arjun Sethi : “This is not a gift. It is an investment in Wyoming’s future. We chose Wyoming as our global headquarters because it leads the country in thoughtful crypto innovation and regulation. When a state creates the right environment for builders, it deserves long term commitment in return.” “By seeding accounts for every newborn in 2026, we are backing families from day one and reinforcing Wyoming’s role as America’s home for responsible crypto leadership.” U.S. Senator for Wyoming Cynthia Lummis : “I am so thrilled Kraken is giving back to Wyoming in such a meaningful way by sponsoring Trump accounts for every child born in Wyoming in 2026. This investment in the next generation will ensure children in Wyoming have a financial head start. I’m grateful to Kraken for their commitment to Wyoming’s next generation and to the Cowboy State’s economic future.” Wyoming has long been at the forefront of cryptocurrency-friendly policy, from chartering Kraken Financial as the nation’s first Special Purpose Depository Institution (SPDI) to launching the Frontier Stable Token (FRNT) . Kraken’s deep roots in the state – including choosing Cheyenne for its headquarters, support for the University of Wyoming’s blockchain programs, and partnerships with local initiatives – make this program a natural extension of its commitment to the Cowboy State. Register for a Trump Account The post Kraken to sponsor Trump Accounts for all Wyoming newborns in 2026 appeared first on Kraken Blog .
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BitcoinWorld Hong Kong Crypto License Breakthrough: SFC’s Pivotal Approval for Victory Fintech Signals Renewed Momentum HONG KONG, April 2025 – In a significant move for Asia’s digital asset landscape, Hong Kong’s Securities and Futures Commission (SFC) has granted a cryptocurrency license to Victory Fintech (VDX), marking the first such regulatory approval in eight months. This pivotal decision, reported initially by CoinDesk, underscores the city’s ongoing commitment to establishing a structured and secure virtual asset ecosystem under its 2023 regulatory framework. Consequently, this development signals renewed momentum for licensed crypto operations in a major global financial center. Hong Kong Crypto License Framework: A Timeline of Regulatory Evolution The approval for Victory Fintech represents a key milestone within Hong Kong’s broader regulatory journey. Authorities introduced a comprehensive licensing regime for virtual asset trading platforms (VATPs) in June 2023. This framework mandates strict compliance standards for investor protection, cybersecurity, and anti-money laundering. Since its inception, the SFC has methodically assessed applicants, prioritizing operational resilience and financial integrity. Therefore, each license approval reinforces the city’s strategic position as a regulated gateway for digital finance. Prior to the Victory Fintech license, the SFC had issued approvals to several pioneering platforms. OSL Digital Securities and HashKey Exchange notably received the first batch of licenses. Subsequently, HKVAX also secured regulatory permission to operate. To date, a total of 12 platforms have gained official approval, creating a small but growing cohort of regulated entities. This measured approach contrasts with more restrictive stances in other jurisdictions, highlighting Hong Kong’s calibrated strategy. Victory Fintech VDX: Profile of the Newly Licensed Platform Victory Fintech, operating the VDX platform, now joins an exclusive group of SFC-licensed virtual asset service providers. The company successfully navigated the SFC’s rigorous application process, which includes demonstrating robust corporate governance, secure custody solutions, and effective risk management protocols. As a licensed entity, VDX can legally offer trading services to both retail and professional investors in Hong Kong, subject to the SFC’s ongoing supervision. This status provides a significant competitive advantage and enhances user trust. The licensing gap between June 2023 and April 2025 suggests the SFC maintains a highly selective vetting process. Analysts observe that regulators are prioritizing quality over quantity to ensure market stability. The approval for Victory Fintech may indicate confidence in the platform’s operational maturity and compliance systems. Furthermore, it could encourage other applicants awaiting review, suggesting the regulatory pipeline remains active despite its deliberative pace. Expert Analysis: The Impact on Hong Kong’s Financial Hub Status Financial technology experts point to several immediate implications of this license approval. Firstly, it reaffirms Hong Kong’s stated policy of fostering innovation within a clear regulatory perimeter. Secondly, it provides a tangible case study for other global financial centers weighing similar regulatory models. Market observers note that licensed platforms like VDX must adhere to stringent capital requirements, segregation of client assets, and regular financial reporting. These requirements directly address common investor concerns about security and solvency in the crypto sector. Comparative data illustrates Hong Kong’s positioning. The table below shows key metrics for the licensed virtual asset ecosystem as of April 2025: Metric Detail Total SFC-Licensed VATPs 12 platforms First Licenses Issued June 2023 (OSL, HashKey) Latest License Issued April 2025 (Victory Fintech/VDX) Regulatory Framework Effective Date June 2023 Key Regulatory Body Securities and Futures Commission (SFC) Industry advocates argue that a clear regulatory environment attracts responsible investment and talent. Conversely, they caution that overly restrictive rules could stifle innovation. The SFC’s approach appears designed to balance these competing priorities. Evidence from market activity suggests that licensed platforms have seen increased institutional interest, as compliance reduces counterparty risk. The Road Ahead for Digital Asset Regulation in Asia The Victory Fintech license occurs within a dynamic regional regulatory landscape. Neighboring jurisdictions like Singapore and Japan also operate licensing regimes for crypto service providers. However, their specific requirements and approval timelines differ. Hong Kong’s model is particularly notable for its integration within the existing securities regulatory framework. This integration allows the SFC to apply decades of financial market oversight experience to the digital asset sector. Looking forward, analysts anticipate several developments. The SFC will likely continue its meticulous review of pending applications. Additionally, regulators may introduce further guidelines for emerging areas like staking services or tokenized securities. The performance and compliance record of currently licensed platforms, including Victory Fintech, will directly influence the pace and scope of future regulatory evolution. Therefore, the industry will closely monitor operational data and any regulatory announcements. Key challenges remain for regulators and licensed firms alike. These include: Cross-border regulatory coordination: Aligning standards with other financial centers. Technological evolution: Adapting rules to new blockchain innovations and asset types. Market education: Ensuring investors understand the risks and protections of licensed vs. unlicensed platforms. Financial stability monitoring: Assessing the systemic implications of growing digital asset markets. Conclusion The SFC’s approval of a Hong Kong crypto license for Victory Fintech (VDX) is a consequential event for the region’s digital finance sector. It breaks an eight-month hiatus in new licenses, demonstrating the continued operation and refinement of the city’s virtual asset regulatory framework. This decision reinforces Hong Kong’s strategy of building a secure, compliant, and innovative ecosystem for cryptocurrency trading. As the licensed cohort grows, the focus will shift to how these platforms perform under regulation and how the rules adapt to a fast-changing technological landscape. The Victory Fintech license, therefore, is not an endpoint but a significant marker on Hong Kong’s ongoing journey to become a leading regulated hub for virtual assets. FAQs Q1: What does an SFC crypto license allow a company like Victory Fintech to do? An SFC license permits a virtual asset trading platform (VATP) to operate legally in Hong Kong, offering services to both retail and professional investors. It requires adherence to strict rules on custody, anti-money laundering, financial reporting, and cybersecurity. Q2: Why was there an 8-month gap before this new Hong Kong crypto license approval? The gap likely reflects the Securities and Futures Commission’s meticulous and selective vetting process. Regulators prioritize thorough due diligence on applicants’ financial stability, operational controls, and compliance systems to ensure market integrity and investor protection. Q3: How many companies now hold a Hong Kong crypto license? With the approval of Victory Fintech (VDX), a total of 12 virtual asset trading platforms have been officially licensed by Hong Kong’s SFC under the regulatory framework established in June 2023. Q4: How does Hong Kong’s regulatory approach compare to other major financial centers? Hong Kong has adopted a formal licensing regime similar to Singapore and Japan, integrating crypto oversight into its existing financial regulatory body (the SFC). This contrasts with more fragmented or developing regulatory approaches seen in some other jurisdictions. Q5: What is the significance of this license for the average investor? For investors, a licensed platform like the newly approved VDX offers greater regulatory assurance. It means the platform must meet defined standards for safeguarding client assets, maintaining transparency, and managing risks, which are not uniformly required of unlicensed exchanges. This post Hong Kong Crypto License Breakthrough: SFC’s Pivotal Approval for Victory Fintech Signals Renewed Momentum first appeared on BitcoinWorld .
The management company behind the university’s $56.9 billion endowment opened a new position in BlackRock's spot Ether ETF, while reducing its Bitcoin ETF stake by 21%.
Tokenized real-world assets added 13.5% in 30 days, led by increasing activity on Ethereum, Arbitrum and Solana, even as the broader crypto market lost $1 trillion in value.
European stocks ended the day with gains even though Pinewood Technologies collapsed in brutal fashion. Traders across Europe spent the session reacting to the key points from the Munich Security Conference, and that steady flow of policy talk kept broad indexes supported. The STOXX Europe 600 finished at 618.56 after rising 0.14%, even as sector moves were all over the place. Major indexes across Europe printed mixed numbers. The CAC 40 closed at 8,316.50 after a gain of 4.76. The FTSE 100 ended at 10,473.69 after a climb of 27.34. The IBEX 35 hit 17,848.00 with a strong jump of 175.60. The FTSE MIB slipped 11.42 to 45,419.20. The DAX fell 102.38 to 24,812.50. Why did Pinewood’s stock crash? Shares in Pinewood Technologies fell almost one-third after Apax Partners dumped its £575 million offer. The company had said that it walked away because of “prevailing challenging market conditions”. That remark hit the stock hard, and the shares dropped to just under £3. Even with that mess, broader Europe held firm because traders were more focused on regional themes than one troubled UK software group. NatWest Group gained 4.7% after it kicked off a £750 million share buyback. That rise helped offset the Pinewood drop inside UK trading . Mining stock Rio Tinto fell 1% after it stopped work at its Simandou iron ore site in Guinea due to a fatal accident at the SimFer project. BHP Group dropped 0.7% ahead of earnings. Glencore slipped a little over 0.3%. Fresnillo was down 1%. Anglo American eased 0.2%. The FTSE Industrial Metals and Mining Index was seen down almost 0.6%, which pulled on sentiment but did not erase the gains across Europe, per data from TradingView. Indexes from the rest of the region showed the same uneven tone. The SMI closed at 13,656 after a gain of 55.33. The HEX printed 12,764.17 with a rise of 63.58. The AEX slipped 0.72. The BEL 20 fell 15.13. Portugal’s PSI20 closed at 9,058.6 after a gain of 59.65. Sweden’s OMXS30 was up 2.047. Denmark’s OMXC25 fell 8.88. The STOXX600 reading of 618.52 showed a gain of 0.82. Meanwhile over in Asia, Japan’s Nikkei rose 0.2% after GDP growth came in at 0.2% annualized for the December quarter instead of the expected 1.6%. Trading stayed thin with China, South Korea, and Taiwan closed for the Lunar New Year holiday . US markets were closed for Presidents’ Day, so Europe carried the main flow of global price action. Currency moves were mild. USD/CHF moved to 0.769 after a rise of 0.002. EUR/GBP stayed at 0.869. EUR/USD slipped 0.002 to 1.185. EUR/JPY rose 0.76 to 181.9. GBP/USD slipped 0.002 to 1.363. EUR/CHF moved to 0.912 after a rise of 0.001. Bond yields barely did anything, as the UK 10-year sat at 4.401 after a tiny drop of 0.001. The Bund 10-year was steady at 2.756. Italy’s 10-year traded at 3.385 after a 0.01 move. France’s 10-year stood at 3.344 after a tiny gain of 0.001. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.