Cointime

Cointime

Download App
iOS & Android
Home / Point

CMCC Global Plans to Issue Tokenized Bitcoin Fund in El Salvador in Partnership with Tether and Bitfinex Securities

On October 24, investment management company CMCC Global announced plans to represent its two digital asset funds—Crest and the Liberty Bitcoin Accumulation Fund (LBAF)—in token form. These tokens will be issued and managed through Tether's Hadron infrastructure and distributed by Bitfinex Securities under El Salvador's digital asset framework. Both funds operate as fund-of-funds structures. Crest is priced in USD and aims to outperform U.S. Treasury yields, while LBAF is priced in Bitcoin with a target annual net return of 8% to 12% (BTC), which is an investment target rather than a guaranteed payment. The tokens represent economic rights to the underlying fund shares, minted according to corresponding shares and destroyed upon redemption, still subject to legal and operational conditions, and are not unlicensed tokens. Issuance requires identity verification, anti-money laundering checks, and whitelist addresses; Bitfinex Securities will provide issuance, distribution, and secondary trading. The institution BTCS S.A. has tentatively agreed to provide a three-digit Bitcoin anchor configuration (specifics not disclosed). The issuance price is set at $10 per Crest token and 0.0001 BTC per LBAF token.

Comments

All Comments

Recommended for you

  • Iranian Armed Forces: U.S. Navy Ships Not Allowed in the Persian Gulf Under Any Circumstances

    On October 24, according to CCTV News, Major General Ali Abdollahi, Chief of Staff of the Iranian Armed Forces, stated that the Iranian military has successfully deterred the U.S. Navy, preventing it from approaching the waters near the Persian Gulf or Iranian territorial waters. Under no circumstances will Iran allow U.S. military ships to enter the Persian Gulf; the idea of the U.S. wanting to return its military forces to the Persian Gulf is merely a fantasy. Abdollahi also pointed out that the U.S. and Israel, along with their military forces, will increasingly find themselves deeper in the quagmire they have created, and the longer the confrontation lasts, the more entrenched they will become.

  • Chinese Ministry of Commerce Responds to U.S. Proposed Investment Restrictions

    On October 24, a reporter asked: On October 23, the U.S. Department of the Treasury released a new proposed rule on foreign investment restrictions and is seeking public comments. What is China's comment on this? The response: China has noted the relevant situation. The proposed rule discriminatively expands the scope of investment restrictions against China and intensifies the restrictions, which is a typical practice of generalizing national security. This goes against the important consensus reached by the leaders of both countries, interferes with normal economic and trade cooperation between Chinese and American enterprises, and undermines the international economic and trade order. China expresses serious concern and strong opposition to this and will closely monitor the subsequent developments, reserving the right to take corresponding measures. China has a vast market with enormous consumption and investment potential; investing in China is investing in the future. The U.S. restrictions on investment in China are not conducive to Sino-U.S. economic and trade cooperation and will also harm the interests of American enterprises. China urges the U.S. to respect the laws of the market economy, stop generalizing the concept of national security, and cease politicizing and weaponizing economic and trade issues, in order to create a favorable environment for Sino-U.S. economic and trade cooperation.

  • IRS Plans to Reform Voluntary Disclosure Program, Lower Crypto Penalties and Expedite Cases

    According to Forbes, the Internal Revenue Service (IRS) is preparing to reform its voluntary disclosure program, aiming to reduce penalties and expedite the handling of tax violations, including those related to cryptocurrency. Jarod Koopman, the head of IRS Criminal Investigation, stated at the UCLA Extension Tax Controversy Conference that the goal is to launch the revised program by December, allowing taxpayers to resolve their cases within 120 days after completing the required filings; the current process often takes over a year. The reform will not create a separate disclosure process for digital assets, which will still be handled under the existing voluntary disclosure procedures. Koopman mentioned that the revised penalties will be 'significantly lower' than current levels, although he did not provide specific figures, and he is considering allowing taxpayers to settle their debts through installment payments or offers in compromise. Meanwhile, lawmakers are pushing for an independent voluntary disclosure program for taxpayers who unintentionally report crypto errors, as proposed in Section 502 of the Digital Asset Taxation Certainty Act, which passed the House Ways and Means Committee in September.

  • Abraxas Capital Achieves Record $193 Million Profit in Hyperliquid Perpetual Contracts

    On October 24, according to Hyperliquid News, the Abraxas Capital wallet has reached a record cumulative profit of $193 million in perpetual contracts on Hyperliquid. This profit is not solely from directional trading gains, as the positions have been hedged through spot assets. The wallet currently holds approximately $207.445 million in USDC, with a cumulative trading volume of $5.43 billion, an open position size of about $725 million, and significant holdings in BTC, ETH, and SOL on the platform.

  • Saudi-led Coalition Intercepts and Destroys Two Ballistic Missiles Fired by Houthi Rebels at Taif and Yanbu

    The Saudi-led coalition announced that it has intercepted and destroyed two ballistic missiles fired by the Houthi rebels in Yemen towards Taif and Yanbu.

  • Ren Zeping's WeChat Account Banned from Following Due to Violations

    On October 24, according to Hongxing News, Ren Zeping's WeChat account has been banned from being followed due to violations. Currently, the account cannot be found through WeChat search, and new follows are not allowed, although its video account can still be followed normally. The account had content updates as recently as October 23, but the specific reasons for the restrictions have not been disclosed. Public information shows that Ren Zeping is an independent economist, founder of 'Zeping Macro', and currently serves as the vice president of the China Private Economy Research Association and chief economist of Zhongyuan Bank. He previously held the position of chief macro analyst at Guotai Junan Securities Research Institute.

  • US Spot Ethereum ETF Sees $4.4 Million Net Inflow Yesterday

    On October 24, according to monitoring data from Farside Investors, the US spot Ethereum ETF saw a net inflow of $4.4 million yesterday.

  • US Spot Bitcoin ETF Sees Net Outflow of $137.9 Million

    On October 24, according to monitoring data from Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $137.9 million yesterday.

  • Hyperliquid Strategies Expands Stock Buyback Program to $100 Million, Extends Deadline to October 31, 2027

    On October 24, TheBlock reported that Hyperliquid Strategies ($PURR) has increased the size of its stock buyback program from $30 million to $100 million, with approximately $72 million remaining. The deadline for the buyback program has been extended to October 31, 2027. The company's dashboard indicates that it holds about 38.8 million HYPE, valued at approximately $2.96 billion.

  • Dow Jones Index Declines by 1.5%

    On October 23, the Dow Jones Index fell by 1.5%, the S&P 500 Index decreased by 0.65%, and the Nasdaq Composite Index dropped by 0.29%.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company