Coinbase, a cryptocurrency exchange based in the United States, has been granted a license to operate in Bermuda and is reportedly ready to launch a derivatives exchange in the country as early as next week. Coinbase has been granted a Class F License under the Digital Asset Business Act by the Bermuda regulator, which permits them to engage in activities such as token sales, issuance, and operating as both a digital asset exchange and a digital asset derivatives exchange provider.
Tesla (TSLA) reported in its earnings release Wednesday afternoon that it did not purchase or sell any bitcoin in the first quarter of 2023.At quarter’s end, Elon Musk’s company held digital assets valued at $184 million, the same as the fourth quarter of 2022. Despite bitcoin (BTC) rising from $16,500 to approximately $28,500 between the fourth quarter of 2022 and the end of the first quarter, the valuation of the digital assets stayed the same due to the fact that current accounting regulations forbid such gains to be recorded.
Januar, a Danish startup, has been granted a Payment Institution License from the DFSA (Financial Supervisory Authority) as of April 19. This license will expand Januar’s business to the 30 European Economic Area markets, whereas prior to this approval, the company was only able to service Danish companies. Simon Ousager, co-CEO of Januar, recently commented on the company’s provision of International Bank Account Number (IBAN) business accounts to crypto businesses.
Sotheby’s announced that it will be auctioning a digital art collection from 3AC, the defunct crypto hedge fund of Three Arrows Capital. Sotheby’s revealed on April 19 that they will auction off a digital portfolio of Nonfungible Token (NFT) artwork by 3AC in 2021. To kickstart the auction, seven of the most exclusive and rare pieces from the ‘Grails’ collection will go up for sale in May. Michael Bouhanna, Sotheby’s head of digital art, has referred to these works as “some of the highest quality and rarest works”.