Share via Shortlink
XBTO CEO Philippe Bekhazi and Two Roads Development’s Reid Boren with 2955 Northeast Seventh Avenue (Google Maps)
Cryptofinance firm XBTO Group is moving its headquarters to Miami.
The New York-based firm paid $5.4 million for a waterfront commercial condo at Biscayne Beach in Miami’s Edgewater neighborhood. Two Roads Development, which built the 51-story tower, sold the 5,400-square-foot space, said Arden Karson of Karson & Co., who brokered the deal. It traded for $976 per square foot.
Arden Karson
XBTO Group could not immediately be reached for comment.
The commercial unit at 2955 Northeast Seventh Avenue hit the market last year for $6 million with Karson and Douglas Elliman’s David Restainer.
As institutions are increasingly considering incorporating cryptocurrency into their portfolios, one question remains: How do you allocate money to bitcoin without taking on too much risk?
Traditional risk modeling strategies like factor, statistical, or macroeconomic models cannot be applied to bitcoin in the same way that they are applied to other asset classes, according to new research from Joel Coverdale, a risk consultant with Hong Kong-based consulting and advisory firm Eight Isle and ex-BlackRock director.
“Bitcoin, as an emergent asset class, poses a tricky dilemma in that it doesn t fit neatly into the existing modeling frameworks,” according to Coverdale’s paper. “At least, not at first glance.”
January 20, 2021 @ 10:14 am By JD Alois
As Bitcoin has rocketed to new all-time highs, it has sucked much of the oxygen out of the crypto news space. But Bitcoin’s rise has been joined by some other cryptocurrencies running higher – most importantly, the number 2 crypto Ethereum. In the last week alone, ETH has jumped by over 20%. Meanwhile, Bitcoin has been hovering around $35K. While there is never a shortfall of industry people willing to predict the price of Bitcoin, either higher or lower, below CI has received some comments from digital asset industry insiders sharing their opinions on Ethereums renewed popularity.
Digital Asset Insiders Comment on FSOC Report
The
US Department of Treasury has published the annual FSOC report. The
Financial Stability Oversight Council convenes every year to review potential systemic risks to the financial services industry. FSOC members include the top financial services regulators including the SEC, the Fed, the OCC, etc. There are also non-voting members that participate in an advisory capacity including representatives from the states.
As was reported earlier today, the report addresses the Fintech sector with much written about the emerging digital assets (cryptoassets in Europe) sector. Digital transformation in the financial services sector has picked up pace during COVID – mostly for the better. But of course questions persist as to possible risks and what must be done to mitigate these challenges.