MicroStrategy, the business intelligence company, yesterday announced plans to raise $400 million with the intention of increasing their bitcoin investments. The company said in a press release it will "invest the net proceeds from the sale in bitcoin in accordance with its Treasury Reserve" after first making way for business expenses.

Central bank officials and finance minister from the Group of 7 nations discussed crypto assets during a meeting, the U.S. Treasury Department said yesterday. "There is strong support across the G7 on the need to regulate digital currencies," the statement read. 

German private bank Hauck & Aufhäuser announced its first crypto fund, the HAIC Digital Asset Fund I, launching Jan. 1, 2021. The fund is aimed at institutional investors and will cover 85% of the digital asset market and will have a minimum allocation of 200,000 Euro's.

Sponsored: Crypto.com Exchange is listing ZIL on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of ZIL at 50% off.

MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys

Digital Assets Discussed during G7 meeting, says U.S. Treasury Department

Central bank officials and finance minister from the Group of 7 nations discussed crypto assets during a meeting, the U.S. Treasury Department said yesterday.

According to a statement from U.S. Treasury Secretary Steve Mnuchin, the discussions were focused on the Covid-19 pandemic but they also spoke about digital assets. The statement read:

"They also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets and national authorities’ work to prevent their use for malign purposes and illicit activities. There is strong support across the G7 on the need to regulate digital currencies.  Ministers and Governors reiterated support for the G7 joint statement on digital payments issued in October."

The Treasury Department under Mnuchin has pursued a number of crypto initiatives, primarily through the Office of the Comptroller of the Currency. Last week Brian Brooks, the acting Comptroller of the Currency was featured on CNBC and gave the crypto community some positive news after he said "nobody is going to ban bitcoin."

German Bank Launches Crypto Fund Covering Portfolio of Digital Assets

German private bank Hauck & Aufhäuser announced its first crypto fund, the HAIC Digital Asset Fund I, launching Jan. 1, 2021.

According to a report on FundView, the initiative, a collaboration with Berlin fintech Kapilendo, will target institutional and semi-institutional investors who want to invest in a portfolio of crypto assets, including Bitcoin, Ethereum and Stellar. The fund will pursue a passive investment strategy, with a crypto allocation ratio based on market cap and other criteria. According to the company, the portfolio will cover 85% of the total crypto asset market.

The minimum investment in the fund is 200,000 Euros ($242,000), with no limit on the subscription period, and total ongoing fees for the fund are 2.05% of the fund volume. Kapilendo will act as the crypto depository while Hauck & Aufhäuser is responsible for fund management. Board member Holger Sepp explained that institutional interest in crypto in Germany is growing:

“We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive with institutional investors."

Crypto.com Exchange is listing ZIL at 50% OFF

Crypto.com Exchange is listing ZIL on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of ZIL at 50% off. The event will commence on Tuesday, 15 December 6:00am UTC on the Crypto.com Exchange.

Allocation:

Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked on the Crypto.com Exchange. 

Subscription: 

• Participants will be able to subscribe for ZIL by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for ZIL in this event.
• Participants will need to trade the minimum volume required at their CRO staked level in the past 30 days in order to be eligible to subscribe.
• The past 30-day trading volume is calculated daily at 00:50:00 UTC. For more information regarding exact cutoff times, refer to our FAQ here.

NOTE: The trading volume can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.

Event Timeline:

• 15 Dec 6:00am UTC: Sales Begins (ZIL/CRO subscription price fixed)
• 16 Dec 6:00am UTC: Sales Ends 
• 23 Dec 6:00am UTC: Acceptance Period Begins (unused CRO will be refunded immediately if you reject the allocation)
• 24 Dec 6:00am UTC: Acceptance Period Ends (CRO refunds will be distributed for forfeited participants)

Sign up for the Crypto.com Exchange, stake CRO and participate in the ZIL sale!

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