• Ripple has acquired Metaco for $250 million to expand its enterprise offerings while Metaco will accelerate its growth.
• Tether is allocating up to 15% of its net realized operating profits toward purchasing Bitcoin (BTC) as part of its investment strategy.
• Greenland Holding, which is 46.4% owned by the Shanghai municipal government, is planning to apply for a licence to trade virtual assets in Hong Kong.
Ripple Acquires Metaco
Ripple announced today that it has acquired digital asset custody and tokenization technology provider Metaco for $250 million. The acquisition will enable Ripple to expand its enterprise offerings, while allowing Metaco to “dramatically accelerate” its growth trajectory. Founder and CEO Adrien Treccani will continue to lead the company as an independent brand and business unit.
Tether Investing in Bitcoin
Tether has revealed a new investment strategy that involves regularly allocating up to 15% of its net realized operating profits toward purchasing Bitcoin (BTC). The crypto firm believes this move will strengthen and diversify their reserves portfolio, with the current and future BTC holdings not exceeding the Shareholder Capital Cushion.
Greenland Holdings Applying for Virtual Asset Licence
A unit of Greenland Holdings, which is 46.4% owned by the Shanghai municipal government, is planning on applying for a licence to trade virtual assets in Hong Kong. According to CEO James Geng Jing, this application would further diversify their business and help them expand their international footprint.
WazirX Claims Binance Controls WRX Token
India-based WazirX released a statement claiming that Binance controls the WRX token, conducted the initial exchange offering (IEO) for WRX and collected all sale proceeds from it (BNB 108,401 worth USD 2 million). Furthermore, Binance currently holds 580.78 Million WRX tokens and WazirX team have not received any token allocations yet; Binance also failed at conducting quarterly burn events of WRX tokens since January 2022 onwards so far.
Conclusion
Today’s crypto news revealed various investments initiatives from different firms in order to strengthen their respective portfolios: Ripple acquiring Metaco; Tether investing in BTC; Greenland Holdings applying for a virtual asset licence; and WazirX accusing Binance of controlling WRX token without giving token allocations or burning them quarterly since January 2022 onwards so far..