For DeFi believers, vindication has been every bit as profitable as it’s been sweet
Bahamas-based Deltec Bank & Trust said during a recent video review that it’s holding a “large position” in bitcoin. The information was given by their chief investment officer, Hugo Rogers.
Rogers further explained the move:
We bought bitcoin for our clients at about $9,300, so that worked very well through 2020. And we expect it to work well in 2021 as the liquidity crisis continues to run hot.
Earlier this year, Rogers told Bloomberg about what represents a bitcoin position from a strategical point of view:
A small position in Bitcoin can go a long way. There’s a lack of an alternative in real assets that can show a comparable return. If you’re going to diversify your portfolio anyway, this is a good place to go.
The stablecoin issuer Tether is a client of Deltec. In fact, the relationship between both parties dates back to atleast 2018, after Tether released a letter confirming a transaction with the bank.
To clarify the separation between Tether and the bank’s holdings, Stuart Hoegner, general counsel of the crypto trading platform Bitfinex and Tether, commented on the matter:
We are aware of recent statements by Deltec Bank & Trust Limited about the purchase of digital tokens for and on behalf of their customers. Tether does not outsource decisions about its reserves. Deltec does not purchase digital tokens for and on Tether’s behalf.
The recent crypto market’s bull-run has been fueled interest among private banks and investment advisors towards crypto.
German private bank Hauck & Aufhäuser announced that they would launch a crypto investment fund this year. Such a move will allow institutional and semi-institutional investors to invest in digital assets including, bitcoin, ether, and stellar.
Also, news.Bitcoin.com reported on a survey that revealed that the number of U.S. financial advisors allocating to crypto in their clients’ portfolios surged significantly in 2020.
What are your thoughts on Deltec’s bitcoin position disclosure? Let us know in the comments section below.
On January 28-29, 2021, The North American Bitcoin Conference (TNABC) is preparing to kick off its eighth exhibition with another cryptocurrency and blockchain-focused event. The event organizers have lined up more speakers than ever, as this year’s TNABC is going to be 100% virtual due to the ongoing coronavirus pandemic. TNABC’s creators say that this year has truly shown us all “how resilient a global crypto economy can be.”
The North American Bitcoin Conference is coming back full throttle this year, as organizers say the team has curated a line-up of some of the biggest names in the crypto and blockchain industry. This year’s TNABC will be the event’s eighth annual conference, but the Covid-19 pandemic has made it so 2021’s TNABC will be hosted online. The hardships have been difficult this year, but there’s still a great need to press on in order to spread the benefits of these extraordinary technologies far and wide.
“With cryptocurrencies reaching all-time highs, it’s our responsibility to share knowledge and make sense of the ever-changing global landscape,” the 2021 TNABC website notes. During the last seven years, The North American Bitcoin Conference has hosted a wide range of speakers from crypto company executives, venture capitalists, blockchain developers, and the movers and shakers making things happen in the blockchain space.
2021’s TNABC event page details that the team of organizers lined up a myriad of big name speakers from around the world to “deliver a compact masterclass on the state of cryptocurrency.”
Well known crypto and blockchain evangelists speaking at this year’s TNABC include Bitcoin.com’s founder Roger Ver, IOHK founder Charles Hoskinson, Monero core developer Riccardo Spagni, Polymath CEO Trevor Koverko, OB1 CEO Brian Hoffman, blockchain entrepreneur Brock Pierce, Freeross.org founder and political activist Lyn Ulbricht, Edge founder and CEO Paul Puey, Binary Financial’s Harry Yeh, Bloq chairman and cofounder Matthew Roszak, and Bitwage founder and CEO Jonathan Chester.
This week, TNABC host and Keynote founder and CEO, Moe Levin, discussed the upcoming virtual conference with news.Bitcoin.com. “The fact that we are all able to join this event, many at short notice, from all over the globe, most if not all of our plans made from our phones, shows me how rapidly our world has changed in recent years and what an important role technology now plays in our lives,” Levin said. “It also shows me how ready the world is for a new technology that is as international and as mobile and as easy as the rest of the technology in our lives.”
The TNABC host and Keynote founder added:
It shows me that it’s time to move forward with blockchain and cryptocurrencies and give the world a technology befitting of our current age. And thanks to the great reception we’re seeing online, it shows me that others feel the same way.
TNABC organizers also detailed that even though participants can’t have a drink together in Miami, the event will still host online networking. In addition to keynote speakers, the conference will also focus on debates between global change-makers, thought leaders, and industry insiders.
News.Bitcoin.com readers can obtain tickets to TNABC 2021 here and after acquiring a pass, participants will get a unique join code and link to register on the event platform on January 25-26, 2021. TNABC organizers have also created a comprehensive guide and what to expect at this year’s conference.
What do you think about the 2021 TNABC event? Let us know what you think about this subject in the comments section below.
A crypto forensic analysis reveals that a French donor sent over $500,000 worth of bitcoin (BTC) to far-right activists in the United States. The half-million dollars went to the groups that took part in the pro-Trump riots in the U.S. Capitol.
According to Chainalysis, the unnamed donor sent 28.15 BTC (worth $522,000 at the transfer time) on Dec. 6, 2020, to 22 separate addresses in a single transaction. Per the report, many of those wallets belong to personalities tied to far-right activists in the U.S.
Yahoo News detailed that Vdare (anti-immigration organization), the Daily Stormer (right-wing website), and Nick Fuentes were among the crypto donation recipients. Alt-right streamer Ethan Ralph is also on the list that Chainalysis published regarding the half a million dollar donation.
The blockchain analytics firm clarified that there is no evidence yet on Fuentes’ participation in the Capitol’s riots. However, it quoted previous statements from him asking people to protest Congressional certification of Joe Biden’s victory.
But Chainalysis still highlighted that a BTC donation worth over $250,000 sent on Dec. 8, 2020, is by far the largest crypto donation Fuentes has ever received.
Regarding the French donor’s identity, there is information that the wallet used to arrange the payments has been active since 2013. The blockchain analytics firm suggests he could be a “relatively early adopter of bitcoin whose holdings have grown in value significantly.”
Chainalysis found that the crypto donor is a French computer programmer after searching through his email address. After he sent the donations, he published what seems to be a suicide note on a personal blog. The report, which indicates the motivation behind his donations, reads:
He mentions that he has ‘bequeathed [his] fortune to certain causes and certain people,’ and cites several alt-right talking points in his analysis of the world today. For instance, he states his belief that ‘Western civilization is declining,’ and claims that Westerners are encouraged to hate their ‘ancestors and heritage.’
According to Yahoo News, Federal authorities and law enforcement agencies are also investigating the source of funds.
What do you think about the findings by Chainalysis? Let us know in the comments section below.