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FameEX Morning Crypto News Recap | November 10, 2023
2023-11-10 12:11:20
Lightspeed Faction Introduces $285 Million Fund to Support Cryptocurrency Startup Ventures
Cryptocurrency-focused venture capital firm Lightspeed Faction has launched a $285 million fund with a primary focus on supporting early-stage blockchain projects. The fund's core objective is to invest in Seed and Series A rounds for promising cryptocurrency startups, providing crucial capital for their growth and development as they progress in the industry.
First Securitized Token License Issued by Taiwan's Financial Supervisory Commission Taiwan's Financial Supervisory Commission (FSC) has issued Cathay Securities the inaugural security token offering (STO) license. Cathay's "Sunshine Green Yield" STO bonds, with a six-year maturity, a 3.5% initial annual interest rate, and an initial principal amount of 30 million New Taiwan dollars ($930,000), represent a notable milestone in Taiwan's evolving STO regulatory framework. Cryptocurrency Charities Can Utilize 'Gambler's Fallacy' to Boost Donations U.S. researchers have explored the phenomenon of misinterpreting financial patterns. They propose that crypto charities can harness the inclination of cryptocurrency holders to base decisions on perceived market conditions. This comprehension enables charities to enhance their approaches, potentially resulting in larger donations from cryptocurrency enthusiasts. Chinese AI Chip Market Explores Growth Opportunities Amidst US Export Restrictions Despite US export restrictions on advanced AI chips to China in October 2022, Chinese companies are resiliently seeking alternative sources for technology development. On November 7, Reuters reported that Baidu, a prominent Chinese technology firm, had sourced AI chips from Huawei in August. This underscores China's commitment to advancing in AI despite the imposed restrictions. Legislator Introduces 'Self-Hosted Wallet Protection Act' to Preserve Usage Rights The Senate has introduced the "Keep Your Coins Act" to safeguard individuals' capacity to maintain cryptocurrencies in self-hosted wallets. Furthermore, the bill aims to forestall federal agencies from proposing regulations that could impede individuals' ability to act as self-custodians of digital assets, ensuring the ongoing use of self-hosted wallets for cryptocurrency handling. HSBC Expands Digital Asset Custody Services for Institutional Clients HSBC, the London-based financial giant, is set to launch an institutional digital asset custody service in 2024, addressing the rising demand from asset managers and owners for secure digital asset custody solutions. Zhu Kuang Lee, HSBC's Chief Digital, Data, and Innovation Officer, elaborated on the bank's strategy to cater to the institutional sector's needs. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
