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Digital Asset Management Platform Aspen Digital Raises $8.8M in Pre-A Funding Led by RIT Capital Partners and Liberty City Ventures

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Aspen Digital, a digital asset investment platform tailored for asset managers, institutions and other professional investors, has secured $8.8 million in pre-A funding as it vows to develop the leading solution to serve the surging institutional crypto investment demand.

The financing round was led by anchor investors RIT Capital Partners, the investment trust founded by Lord (Jacob) Rothschild of the prominent Rothschild banking family, and Liberty City Ventures, an early venture investor in the blockchain industry. Other investors include Cherubic Ventures, Token Bay Capital, Somerley Capital, and Chatchaval Jiaravanon & Chaval Jiaravanon. Aspen Digital is co-incubated by Everest Ventures Group (EVG) and TT Bond Partners (TTB), a group of blockchain experts and finance veterans.

Aspen Digital offers an innovative and complete solution for asset managers to invest in digital assets and manage their clients’ portfolios with a single the click of a button. The unique, all-in-one platform aims to address the pain points nagging traditional investors who are new to digital asset investing – from the time-consuming process of picking suitable exchanges and wallets, to recurrent compliance procedures, and arduous tracking of portfolios across multiple platforms.

Through a single account with a simple on-boarding process, Aspen Digital brings together and centralizes key offerings from dozens of leading digital assets service providers, such as FTX, Celsius Network, Hex Trust, among others. Through their account, institutional clients can execute trades, enhance yield and automate investment strategies. Aspen Digital also provides client portfolio reporting, risk management, market insights, and custody solutions.

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The new funds will be deployed to expand the core team and establish new offices in major financial hubs. In addition to its current Hong Kong office, a second headquarter in London will be added later this year to serve clients in Europe and the Middle East. Aspen Digital also plans to establish a Singapore office to target the Southeast Asia market.

Yang He, co-founder and CEO of Aspen Digital, said, “I am thankful to our investors, who believe in our mission to make the world of digital assets more accessible. We are thrilled to be launching our platform internationally later this year to empower asset managers around the world to better serve their clients in the new digital asset market with confidence.”

Emil Woods, founding partner of Liberty City Ventures, said, “We are thrilled to partner with one of the finest technical and business-savvy teams in blockchain and crypto. The Aspen Digital platform is a turn-key solution for investment advisors to manage digital assets on behalf of their clients. The launch is a major step in making this powerful and transformative asset class available to this especially significant investor base.”

Matt Cheng, a founding partner of Cherubic Ventures, said, “At Cherubic Ventures, we lookout for ventures and business startups that transform industries. Aspen Digital is a market changer for digital assets management, and we believe it is the ultimate solution for this market.”

Martin Sabine, the Chairman of Somerley Capital, said, “Somerley Capital has been a trusted financial advisor to listed companies in Hong Kong and China for over 30 years. We understand their needs and see the growing demand for services in the new world of digital assets. We believe Aspen Digital team’s native digital DNA will enable us to join the digital transformation trend being adopted by the mainstream financial institutions.”

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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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