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New Hampshire approves first-of-its-kind $100M Bitcoin-backed municipal bond

New Hampshire has authorized a $100 million municipal bond backed by Bitcoin, marking a significant first at the state level in the US. The decision, made during a meeting of the New Hampshire Business Finance Authority (BFA) on November 17, allows the issuance of bonds to fund a project involving the acquisition and holding of digital currency. The bond is structured to let companies borrow against overcollateralized Bitcoin stored by a private custodian, specifically BitGo. Importantly, the state or taxpayers are not backing the bond; it is a private deal overseen by the BFA. The bond is designed by Wave Digital Assets and Rosemawr Management to use Bitcoin as collateral similar to traditional bonds. A maintenance margin of approximately 160% of the bond's value in Bitcoin must be held as collateral, ensuring bondholders are protected in case of a price drop. Fees from this venture are allocated to support the local innovation and entrepreneurship program, the Bitcoin Economic Development Fund. This move follows earlier legislation allowing local government investment in cryptocurrencies and indicates New Hampshire's proactive stance towards crypto and digital asset regulation.

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Bullish (BLSH) Beats Q3 Estimates With $76.5M in Revenue

Bullish (BLSH), a crypto exchange, reported strong third-quarter performance with earnings per share of $0.10, a significant recovery from a loss of $0.59 in the previous year. The exchange saw adjusted revenue of $76.5 million, surpassing analyst expectations of $72.9 million and up from $44.6

Banks' Capital Rules When Holding Crypto Need to Be Reworked, Says Basel Committee Chair

Erik Thedéen, chair of the Basel Committee on Banking Supervision, stated that the existing capital rules for banks holding large amounts of cryptocurrency need to be revised. This shift in approach comes as the U.S. Federal Reserve and the Bank of England have expressed concerns regarding the practicality of

Apex Group Said to Buy Broker Dealer Globacap for U.S. Tokenization Push

Apex Group, a financial-services provider managing over $3 trillion in assets, is set to acquire Globacap, a London-based platform that operates a U.S.-regulated broker-dealer. This acquisition aims to enhance Apex's initiatives in fund tokenization, responding to growing interest in blockchain-based real-world assets by professional investors. Previously,

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