Blockchain
VersaBank’s Wholly Owned Subsidiary DRT Cyber Inc. To Acquire Leading IT Security Testing Firm, Digital Boundary Group – Complements DRT Cyber Inc.’s Comprehensive Suite of Cyber Security Solutions
VersaBank (“VersaBank” or the “Bank”) (TSX: VB) today announced that its wholly owned, Washington, DC-based subsidiary, DRT Cyber Inc. (“DRT Cyber”), has signed a definitive agreement to acquire all of the outstanding shares of privately-owned Digital Boundary Group (“DBG”), one of North America’s premier information technology (IT) security assurance services firms.
DBG provides corporate and government clients with a suite of IT security assurance services, that range from external network, web and mobile app penetration testing through to physical social engineering engagements along with supervisory control and data acquisition (SCADA) system assessments, as well as various aspects of training. DBG’s clients range from some of Canada’s largest retailers and financial service providers to Canadian and U.S. police service organizations and SCADA system reliant energy, public utilities and infrastructure firms.
“We have always viewed DRT Cyber as a platform from which to provide a comprehensive suite of innovative cyber security solutions that address high-demand, underserved segments of this rapidly growing market,” said David Taylor, President and CEO of both VersaBank and DRT Cyber. “The acquisition of DBG significantly advances our strategy for DRT Cyber, adding a well-established, trusted, reliable, profitable and rapidly growing security assessment business alongside our protection offering, VersaVault®, the world’s first digital bank vault. With this acquisition, now more than ever, DRT Cyber, provides VersaBank’s shareholders with additional upside to the already significant growth opportunity inherent in our core banking operations.”
“There is no greater security threat to organizations today than the vulnerability of its IT systems,” said Governor Tom Ridge, Chairman of DRT Cyber, and the first US Secretary of Homeland Security. “I look forward to working with the leadership team at DBG to leverage their expertise and foresight.”
VersaBank’s IT security aspirations and capabilities were borne out of our own internal need as a Schedule I Canadian chartered bank to have the highest levels of security to protect our day-to-day digital banking operations. Canadian banks are leaders in cyber security and VersaBank is a cyber security leader amongst Canadian banks.
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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