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FameEX Morning Crypto News Recap | November 10, 2023
2023-11-10 12:11:20
Lightspeed Faction Unveils $285 Million Investment Fund for Cryptocurrency Startups
Lightspeed Faction, a cryptocurrency-focused venture capital firm, has unveiled a $285 million fund aimed at supporting early-stage blockchain projects. The fund will primarily target Seed and Series A investment rounds for promising crypto startups while also providing capital for their expansion as they grow.
Taiwan's Financial Supervisory Commission Grants Inaugural Securitized Token License The Financial Supervisory Commission (FSC) of Taiwan has granted Cathay Securities the first security token offering (STO) license. Cathay's "Sunshine Green Yield" STO bonds have a six-year maturity, a 3.5% initial annual interest rate, and an initial principal amount of 30 million New Taiwan dollars ($930,000). This marks a significant development in Taiwan's STO regulatory landscape. Crypto Charities Can Leverage 'Gambler's Fallacy' for Increased Donations A team of U.S. researchers has delved into the concept of misinterpreting financial patterns. They suggest that crypto charities can benefit from the tendency of cryptocurrency holders to make decisions based on perceived market conditions. By understanding this behavior, charities can optimize their strategies to secure larger donations from crypto enthusiasts. Despite US Export Restrictions, Chinese AI Chip Market Explores Growth Avenues Despite the US imposing export restrictions on advanced AI chips to China in October 2022, Chinese firms are adapting and seeking alternative sources for technology development. Reuters reported on November 7 that Baidu, a leading Chinese technology company, had procured AI chips from Huawei in August, highlighting China's determination to continue advancing in AI despite restrictions. Senator Proposes 'Protect Your Coins Act' to Safeguard Self-Hosted Wallet Usage Rights The "Keep Your Coins Act" has been introduced in the Senate to protect individuals' ability to hold cryptocurrencies in self-hosted wallets. Additionally, the bill aims to prevent federal agencies from proposing rules that could hinder people's ability to act as self-custodians of digital assets, ensuring the continued use of self-hosted wallets for cryptocurrency management. HSBC Unveils Institutional Digital Asset Custody Services Expansion HSBC, the London-based financial institution, intends to introduce an institutional digital asset custody service in 2024. This expansion comes in response to growing demand from asset managers and owners seeking secure digital asset custody solutions. Zhu Kuang Lee, HSBC's Chief Digital, Data, and Innovation Officer, outlined the bank's plans to address this demand in the institutional sector. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
