fsBTC Proof of Reserve goes live with ChainLink
- The Frictionless Bitcoin Treasury Fund (fsBTC) has launched its Proof of Reserve (PoR) verification, which is secured by Chainlink.
- Fully redeemable at a 1:1 ratio for Bitcoin. fsBTC offers unparalleled transparency and security. Its Bitcoin reserves are safeguarded in institutional-grade custody by Coinbase Custody International Limited, a regulated VASP operating within the EU.
- By integrating Chainlink's industry-leading decentralized on-chain data services, fsBTC ensures real-time verification of its Bitcoin holdings. Coupled with a publicly accessible custodial address on the Bitcoin network, this innovative framework sets a new standard for trust, transparency, and accountability in Bitcoin-backed assets.
- Frictionless Markets will extend Proof of Reserve to both BlackRock CacheMatrix for Institutional Cash Funds and SWIFT settlement messaging and proof of cash reserves for Institutional Deposit Tokens in Q1 2025.
Bitcoin Surges Past $100,000 as ETFs See Record Inflows
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Bitcoin achieved a historic milestone, surpassing the $100,000 mark for the first time and reaching an all-time high of $103,679 on December 5, 2024. This remarkable surge was fueled by growing optimism over a favorable regulatory environment under the administration of President-elect Donald Trump, particularly following his nomination of Paul Atkins, a known cryptocurrency advocate, to lead the U.S. Securities and Exchange Commission. Since Trump's election victory on November 5, Bitcoin's price has surged by approximately 45%, reflecting renewed confidence in the cryptocurrency market
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Alongside Bitcoin's price surge, U.S. spot Bitcoin exchange-traded funds (ETFs) experienced unprecedented demand. Data from SoSoValue revealed that Bitcoin ETFs recorded their fifth consecutive day of inflows on December 4, with total net inflows over this period exceeding $2 billion. On that day alone, 12 spot Bitcoin ETFs collectively garnered $556.82 million in investments. BlackRock's IBIT ETF led the charge, attracting $571.71 million in inflows, marking its fourth consecutive day of dominance in the market. The surge in ETF investments was accompanied by a significant increase in trading volumes, which reached $4.71 billion on December 4, up from $2.93 billion the previous day
Brazilian Startup Bitshopp Launches Innovative Tokenization Platform
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Bitshopp, a Brazilian blockchain startup, has unveiled a groundbreaking tokenization platform designed to simplify the adoption of blockchain technology for businesses of all sizes. The platform allows companies to tokenize assets and perform blockchain operations in seconds, without requiring specialized blockchain knowledge. This whitelabel solution aims to eliminate technical and infrastructure barriers that have historically limited large-scale tokenization, making it accessible to a wider range of businesses
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The platform offers several innovative features, including integration with AI tools and IoT devices for data verification and insights, as well as the native ability to perform atomic transactions (Delivery vs Payment). Bitshopp's solution uses the BESU permissioned blockchain network, which is also adopted in projects like DREX and RBB – Rede Brasil Blockchain. The company's goal is to democratize access to tokenization technology, potentially revolutionizing various sectors by enabling the tokenization of assets ranging from real estate and receivables to financial securities, commodities, and environmental assets
Institutional Crypto Adoption Surges Following Trump's Election
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The election of Donald Trump as US President has triggered a significant increase in institutional adoption of cryptocurrencies. Since November 5, 2024, Bitcoin's price has surged by approximately 45%, reaching an all-time high of $103,679 on December 5. This remarkable growth has been accompanied by unprecedented inflows into US Bitcoin exchange-traded funds (ETFs). Data from SoSoValue revealed that Bitcoin ETFs recorded five consecutive days of inflows, with total net inflows exceeding $2 billion over this period. On December 4 alone, 12 spot Bitcoin ETFs collectively attracted $556.82 million in investments, with BlackRock's IBIT ETF leading the charge
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The surge in institutional interest is largely attributed to Trump's pro-cryptocurrency stance and his promises of a more favorable regulatory environment. Major asset managers like BlackRock and Fidelity have further legitimized Bitcoin as a portfolio asset, viewing it as a potential hedge against inflation and economic uncertainty. The approval of spot Bitcoin ETFs by the SEC in January 2024 laid the groundwork for this institutional embrace, providing a regulated avenue for traditional investors to gain exposure to the cryptocurrency market. As regulatory clarity improves under the expected Trump administration policies, institutions are likely to deepen their involvement in the crypto space