‘Sports D3’ (D-Cubed Ventures OU) Digital Assets Exchange Secures Operating License in the EU

‘Sports D3’ (D-Cubed Ventures OU)

'Sports D3' (D-Cubed Ventures OU)
‘Sports D3’ (D-Cubed Ventures OU)
‘Sports D3’ (D-Cubed Ventures OU)

TALLINN, Estonia, Oct. 08, 2020 (GLOBE NEWSWIRE) — ‘Sports D³’ (D-Cubed Ventures OU), a tokenization platform and digital assets exchange for the global sports industry, is pleased to announce that it has been granted an operating crypto-license by the Financial Intelligence Unit (FIU) of Estonia.

‘Sports D³’ provides professional sports teams with an innovative alternative to raising funds by facilitating crowd-formation of capital on its DLT-powered platform, where clubs are able to digitize, securitize and sell their assets to fan-investors in the form of Security Token Offerings (STO).

With the approval of a Virtual Currency Exchange and a Virtual Currency Wallet License, ‘Sports D³’ is now a fully regulated digital assets exchange, with the capability to deliver its solutions to sports clubs and their fans in 27 European jurisdictions. This milestone marks the next step in ‘Sports D³’ development and paves the way for securing the financial intermediary status and expanding into other continents.

Gene Swinton, Founder & CEO of ‘Sports D³’ said: “There are over 400 million football fans in Europe, who are not only among the most devoted fans in the world but who also happen to score higher in their ability to invest. We are delighted to be granted this license, as it will provide fan-investors with a simple, low-cost, fiat-to-crypto ON-ramp and enable their investment activities on the SD³ platform”.

“We will continue on our mission to democratize finances in the global sports industry, starting with the European football space. By providing professional football clubs in Europe with access to capital crowd-sourced from millions of fan-investors, SD³ heralds a new era for crowd-capital and its prominent role in the development of football,” concluded Mr. Swinton.

To learn more about the ‘Sports

A Major Bitcoin Exchange Is In Even Worse Trouble Than Thought

The bitcoin and cryptocurrency world was rocked last week by news U.S. authorities had levied charges against major bitcoin and crypto exchange BitMEX and its leadership team.

BitMEX executives Arthur Hayes, Benjamin Delo and Samuel Reed were indicted by the U.S. government on October 1, accused of flouting U.S. banking laws while serving American customers.

Now, in a further blow to the controversial Seychelles-based bitcoin and cryptocurrency exchange, the influential blockchain data company Chainalysis has branded BitMEX a “high-risk” exchange—with external data showing investors have removed almost 50,000 bitcoin tokens from BitMEX since last week.

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On Monday this week, Chainalysis warned its clients that BitMEX, which rose to prominence throughout bitcoin’s massive 2017 bull run and was up until recently the largest bitcoin-derivatives exchange, would be considered a “high risk exchange” from October 13.

“Any transfers from October 1 and later should be considered high risk,” Chainalysis told clients in an email that was first reported by bitcoin and cryptocurrency news and analysis outlet The Block, adding BitMEX transfers will trigger alerts for those using the Chainalysis monitoring tool.

The Chainalysis warning compounds data from blockchain analytics firm Glassnode that shows around 45,000 bitcoin tokens have been withdrawn from BitMEX since the start of the month, representing a 27% drop in the total bitcoin on the exchange.

“On Friday 2 October, the day after the announcement, BitMEX saw its largest ever day of net outflows as investors rushed to remove their funds

Germany’s stock exchange plans tougher rules after Wirecard scandal

Bull and bear statues outside Frankfurt's stock exchange. Photo: Alex Domanski/Reuters
Bull and bear statues outside Frankfurt’s stock exchange. Photo: Alex Domanski/Reuters

Deutsche Börse, Germany’s stock exchange operator, is considering stringent new admission rules as part of reforms in the wake of the Wirecard accounting-fraud scandal.

It is also proposing increasing the size of the blue-chip DAX index (^GDAXI) from 30 to 40 companies.

“It’s no secret that I personally would welcome the expansion of the Dax 30 to a Dax 40,” said Deutsche Börse chief executive Theodor Weimer on Monday. “I am looking forward to the result and am sure that the further development of the criteria will help the German capital market to achieve further quality.”

READ MORE: German lawmakers to launch parliamentary probe into Wirecard scandal

Investors have until 4 November to submit their comments on the stricter new admission criteria, which include banning companies from the DAX if they don’t submit their accounts on time.

Members of all the German indices, which include the DAX, MDAX, TecDAX and SDAX, would also need to show proof of an audit committee on their supervisory board in future.

The new proposals say that companies should be demonstrably profitable before they can move up into the leading DAX index.

In addition, firms making more than 10% of their revenue from controversial weapons sales would be excluded from the indices, which include the DAX, MDAX, TecDAX and SDAX.

As part of the proposals, the small-cap MDax would shrink by 10, to a total of 60 companies.

The German financial world and the political establishment has been rocked by the enormous scandal at payments company Wirecard, after it emerged in June this year that billions were missing from its balancesheet.

READ MORE: Germany’s financial regulator chief rules out resigning over Wirecard scandal

Wirecard declared bankruptcy in June, and was ejected from the DAX

Computer glitch knocks out Tokyo Stock Exchange

The Tokyo Stock Exchange plans to resume normal operations Friday after it halted trading for the entire day Thursday owing to what it said was a malfunction in its computer systems — the worst such outage ever.

There was no indication that the outage at the world’s third-largest exchange resulted from hacking or other cybersecurity breaches.

“We are extremely sorry for the troubles we have caused,” Koichiro Miyahara, president and CEO of the exchange, told reporters late Thursday.

The exchange issued a statement later saying it would open as usual Friday. It said it foresaw no problems with resuming trading.

Miyahara and other exchange officials said a computer hardware device they called “Machine 1” failed, and the backup, “Machine 2,” didn’t kick in, so stock price information was not being relayed properly.

The officials characterized the problem as a memory malfunction.

They said that rebooting the system during a trading session would have caused confusion for investors and other market participants.

Perplexed passers-by studied quote-less electronic screens in Tokyo’s financial district, and newspapers’ evening editions carried listed companies’ names but blank prices.

Brokerages fielded a flood of calls from frustrated investors.

“There should be a Plan B,” Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities, told broadcaster NHK.

The Tokyo exchange is the world’s third-largest bourse after the New York Stock Exchange and Nasdaq, with a market capitalization of nearly $6 trillion.

Foreigners account for about 70% of all brokerage trading in the Tokyo exchange, both in terms of value and volume, so news of the outage left investors both in Japan and overseas wondering what happened.

The malfunction of basic hardware drew attention to vulnerabilities in the country’s digital systems. Newly appointed Prime Minister Yoshihide Suga has made upgrading such infrastructure a priority, viewing it as

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