Latest news with #MarkGreenberg
Yahoo
23-05-2025
- Business
- Yahoo
Global Dollar's USDG Eyes Hundreds of Partners Attracted by Yield, Sees 'Big Names' From TradFi
It's early days for USDG, a stablecoin that debuted in November, but a thousand firms could join the Global Dollar group that helps popularize the token in return for a share of the yield earned on reserve assets, according to crypto exchange Kraken, one of the founding partners. USDG, whose other backers include trading platform Robinhood (HOOD), stablecoin issuer Paxos, crypto investor Galaxy Digital and crypto bank Anchorage Digital, recently welcomed 19 new joiners, many of them crypto native firms. Banks and large traditional finance firms are also lining up, Kraken's consumer business lead Mark Greenberg said. 'There are 25-plus partners now, and I hope in another month, we'll be announcing the next 25, and then the next 25. So from 25 to 50 to 1,000," Greenberg said in an interview. "I'm very excited about some of the partners coming up in traditional finance and in crypto — big names on both sides. We're talking to a lot of banks and I think a few will be coming online soon.' The changing dollar stablecoin landscape has been dominated by two big players: Tether's USDT, far and away the largest at a market cap of over $150 billion, and Circle's USDC which commands a circulation of just over $60 billion. USDG has just $276 million, making it the 24th-largest stablecoin in a CoinGecko ranking. Paxos, the New York-regulated stablecoin specialist underpinning USDG, originally offered a contender to USDC and USDT in the form of tie-up with exchange giant Binance, but the partnership was discontinued for regulatory reasons. Greenberg said Global Dollar is a 'true consortium,' and Paxos is a distribution partner, albeit with some particular administrative duties. 'We are building a decentralized community around the stablecoin, with yield that goes back to everybody,' Greenberg said. 'Some of us are founding partners, and if we were a property company, Paxos would be the property management. They make sure that the licenses are in place and that the treasuries are handled properly and that the minting is done. But it's on all of us to be equal partners in making the Global Dollar network a success.' Driving the consortium's growth is the offer of yield, which both incentivizes firms to join up, and also reimagines stablecoins as part of the wider financial system, Greenberg said. It's also how USDG plans to challenge the dominance of Tether and Circle. 'I believe in decentralization over centralization. I believe in giving the value back to users, and USDG is doing that in a way that you can't with Circle or Tether today,' said Greenberg. 'Tether and Circle make a lot of money. In banking you give your deposits and they do things with it, but you get almost nothing back. But stablecoins shouldn't be like that.' Kraken moves a lot of money around the world and naturally the firm has been using USDG, eating its own dog food, in business innovation parlance. 'We use global dollars and the USDG all over the world,' Greenberg said. 'You send a wire and it can take four or five days and get stuck in some random bank along the way. That's already changing really fast. And you see players like Visa and MasterCard and others come to the table and stablecoins start to play that role in a much bigger way.' Kraken's clients are also taking advantage of earning up to 4.1% on U.S. dollars in every country in the world by putting their money in USDG, Greenberg added. 'If you're in the U.S., maybe that's not that exciting, because there are other ways to do that. But if you're in Argentina, or if you're in Canada, where there are no U.S. dollar accounts and earning 4.1% is unheard of, it's a very cool opportunity to make that happen.' UPDATE (May 22, 16:22 UTC): Rewrites headline, first paragraph to make clear Global Dollar is the name of the consortium, USDG the name of the stablecoin.
Business Wire
22-05-2025
- Business
- Business Wire
Kraken Partners with Backed to Launch xStocks on Solana, Bringing Tokenized Equities to the Masses
NEW YORK--(BUSINESS WIRE)-- Kraken, a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom, today announced a strategic partnership with Backed, the pioneering issuer of tokenized stocks, and the Solana Foundation to bring tokenized U.S. equities to investors worldwide. Announced at Solana Accelerate, Backed will initially deploy SPL-based digital representations of U.S.-listed stocks and ETFs on the Solana blockchain. These tokenized assets will soon be available to eligible Kraken clients in select non-U.S. markets directly through the Kraken app. As part of the rollout, Backed is launching xStocks, a new tokenized equities brand designed to empower crypto platforms to offer onchain exposure to U.S. equities – with Kraken as its first launch partner. Kraken selected Solana as the launch chain for xStocks because of its unmatched performance, low latency and thriving global ecosystem. As the most used public blockchain in the world, Solana provides the ideal foundation for bringing equities onchain at internet scale. 'We're reimagining equities investing and ushering in a new wave of demand from clients seeking better alternatives to the status quo,' said Mark Greenberg, Kraken's Global Head of Consumer. 'Access to traditional U.S. equities remains slow, costly, and restricted. With xStocks, we're using blockchain technology to deliver something better – open, instant, accessible, and borderless exposure to some of America's most iconic companies. This is what the future of investing looks like.' 'This collaboration marks a pivotal moment in democratizing access to traditional finance. By bringing exposure to U.S. equities onchain we're unlocking a new era of DeFi composable, 24/7 global markets,' said Adam Levi, Cofounder of Backed. 'xStocks's infrastructure is designed to seamlessly bridge the gap between traditional and decentralized finance, and we couldn't ask for a more forward-thinking partner than Kraken to lead this charge. xStocks are designed to be a neutral, public good asset class, and we look forward to expanding xStocks to other exchanges and chains.' "This collaboration is a powerful step toward realizing the vision of internet capital markets and global, 24/7, permissionless access to the financial system," said Amelia Daly, Head of Partnerships at Solana Foundation. "By bringing tokenized U.S. equities onchain with Solana's high-performance infrastructure, this product is showing how public blockchains can unlock entirely new investing experiences at internet scale. This is what it means to build for the future of finance." Launching xStocks on Kraken builds on increasing equities momentum, and signals an intent to grow access to equities-related products worldwide. In April, Kraken launched the trading of 11,000+ U.S.-listed stocks and ETFs for U.S. clients, and plans to expand this offering to users in the U.K., Europe, and Australia in the future. Looking ahead, Kraken and Backed will also explore opportunities to bring tokenized equities to additional chains beyond Solana, accelerating innovation and expanding access to global markets like never before. About Kraken Kraken is one of the world's longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 300 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. With millions of individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves. Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps. For more information about Kraken, please visit
Axios
08-05-2025
- Business
- Axios
Crypto custody at the SEC
Custody professionals showed up Friday at the SEC to urge the agency to create principled regulations around the business of safeguarding digital assets, while also urging it not to specify technological solutions. Why it matters: Digital assets are bearer instruments, and the industry has had a lot of failures in terms of keeping those bearer instruments safe. Between the lines: Custody is the core idea of cryptocurrency. Before Bitcoin, there was no way for an individual to hold value digitally on their own. The big picture: Very few investors want to hold these assets themselves, however. Especially gigantic, heavily regulated investors. Between the lines: The fact that not all digital assets are under the SEC's purview is going to complicate rulemaking: The SEC only has authority over securities, and it looks likely that very few digital assets will be securities in the end. Which could mean that there's two different rules for safeguarding assets that — from a custodian's perspective — are basically the same. Friction point: One issue that seemed to spark some dispute on the panel was how customer assets should be segregated. They could have all the funds mixed but the separate amounts logged in off-chain accounts, or they could constantly rebalance between thousands of individual wallets. Mark Greenberg, Kraken vice president, argued that mixing is less prone to security lapses. "The less crypto moves around, the less people have to approve things [and] move it around the better." Though others pointed out that this raises issues with dealing with the external world. What we're watching: Only one panelist was there to speak for self-custody, the concept invented with Bitcoin, where a person can steward their own assets.
Yahoo
25-04-2025
- Business
- Yahoo
SEC roundtable to probe crypto custody: 'It's taken for granted, until it fails'
On Friday, the U.S. Securities and Exchange Commission (SEC)'s springtime roundtable series on crypto is gearing up to tackle a critical challenge — crypto custody — featuring panelists from Fidelity, Kraken, and Fireblocks. 'Crypto custody is often taken for granted, until it fails,' Mark Greenberg, Kraken's Global Head of Consumer and a participant in the SEC roundtable, told TheStreet Crypto. 'In reality, securely holding digital assets is highly complex — and only a handful of firms have the infrastructure, security protocols, and expertise required to sufficiently protect crypto assets.' The roundtable — titled 'Know Your Custodian: Key Considerations for Crypto Custody' — will focus on promoting innovation in the sector amid growing security risks, and will feature panel discussions on broker-dealer frameworks, investment adviser compliance, and more. Some in the crypto space are hopeful that the regulator will define the term custodians to avoid ambiguity or looming regulatory trouble: 'A clear definition of what constitutes a digital asset custodian should come first,' Przemyslaw Kral, CEO at Zondacrypto, told TheStreet Crypto. 'This definition should not be based on existing financial models and must take into account the unique nuances of different cryptocurrencies, blockchains, and associated custody methods. Only once clear definitions of custody and custodians are produced can rules be made to regulate them.' The European Union's Markets in Crypto-Assets (MiCA) framework offers one example. 'It provides clear rules for crypto businesses by defining asset types and classes, outlining operational standards for custody and market integrity, and setting out authorization and licensing requirements,' Kral said. However, as the U.S. steps up its regulatory efforts in the crypto space, a key concern is interoperability. 'While crypto does not have borders, designing custody rules that cannot interact with those of other jurisdictions will create barriers and could isolate U.S crypto custodians from their global counterparts,' Kral said.
Associated Press
31-01-2025
- Business
- Associated Press
Quipt Home Medical Responds to Kanen Wealth Management
CINCINNATI, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (the 'Company') (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, acknowledges receipt of a notice from Philotimo Fund, LP, an entity affiliated with Kanen Wealth Management, LLC and David L. Kanen ('KWM'), purporting to provide notice of its intent to solicit proxies in support of four director candidates to the Company's Board of Directors (the 'Board') in opposition to the Company's four director candidates to the Board. The Company remains steadfast in its mission to deliver long-term value to all shareholders. As part of the Company's ongoing commitment to corporate governance, the Board and the Nominating and Corporate Governance Committee of the Board will thoroughly review and evaluate KWM's notice and any additional requests for compliance with its established procedures under the Company's Articles and all applicable laws. 'Our priority has always been to execute on our strategic growth plan ensuring we position the Company for long term success and adhere to the highest standards of corporate governance,' stated Mark Greenberg, Lead Independent Director of Board of the Company. 'The Company has delivered consistent financial and operational performance in the midst of a challenged industry environment, and we believe our disciplined approach has positioned us to generate sustainable value for all stakeholders. We continue to evaluate and pursue avenues in which we can increase shareholder value, and we will not be distracted from achieving our long-term goals.' The Company regularly engages with its shareholders and values constructive feedback aimed at strengthening the Company's performance. We take these engagements seriously and maintain open lines of communication to ensure that shareholder perspectives are heard. At this time, the Company has not received a timely, valid and compliant notice for nominating any directors to our Board pursuant to both U.S. securities laws and the Company's Articles. Shareholders are not required to take any action at this time. The Company will provide updates as appropriate. ABOUT QUIPT HOME MEDICAL The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company's organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services, and making life easier for the patient. Cole Stevens VP of Corporate Development Quipt Home Medical Corp. 859-300-6455 [email protected] Gregory Crawford Chief Executive Officer Quipt Home Medical Corp. 859-300-6455 Forward-Looking Statements Certain statements contained in this press release constitute 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or 'forward-looking information' as such term is defined in applicable Canadian securities legislation (collectively, 'forward-looking statements'). The words 'may', 'would', 'could', 'should', 'potential', 'will', 'seek', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect', 'outlook', or the negatives thereof or variations of such words, and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation, those risk factors discussed or referred to in the Company's disclosure documents, including the Company's most recent Annual Report on Form 10-K, filed with United States Securities and Exchange Commission (the 'SEC') and available at and with the securities regulatory authorities in certain provinces of Canada and available at Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statement prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. Important Additional Information On January 24, 2025, the Company filed a Management Information and Proxy Circular (as may be amended or supplemented from time to time, the 'Circular') and WHITE Proxy Card with the SEC and on the System for Electronic Document Analysis and Retrieval ('SEDAR+') in connection with its solicitation of proxies in support of four director candidates to the Board at the 2025 annual general meeting of shareholders of the Company to be held on March 17, 2025 (including any adjournments, reschedulings, continuations or postponements thereof, the 'Meeting'). On January 25, 2025, the Company received a letter pursuant to Rule 14a-19(b) under the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), from KWM purporting to provide notice of KWM's intent to solicit proxies in support of four director candidates in opposition to the Company's four director candidates. In addition to satisfying the SEC's universal proxy rules, KWM must also comply with the advance notice requirements under the Company's Articles (the 'Advance Notice Policy') in order to nominate a candidate for election to the Board. At this time, the Company has not received a timely, valid and compliant notice pursuant to both U.S. securities laws and the Advance Notice Policy. In the event that the Company determines that is has received a timely, valid and compliant notice under the U.S. securities laws and the Advance Notice Policy, then the Company will file revised proxy materials, including a new proxy circular and new WHITE Universal Proxy Card, with the SEC and SEDAR+ in connection with the Meeting. If necessary, shareholders will be able to obtain the new proxy circular, any amendments or supplements to the new proxy circular and other documents filed by the Company with the SEC and SEDAR+ at no charge at the SEC's website at and on SEDAR+ at Copies will also be available at no charge at the Company's website at SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE CIRCULAR, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH, OR FURNISHED TO, THE SEC AND SEDAR+ (INCLUDING, IF NECESSARY, A NEW PROXY CIRCULAR AND WHITE UNIVERSAL PROXY CARD) CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MEETING. Participant Information The Company, its directors (Gregory Crawford, Chairman of the Board and Chief Executive Officer, Mark Greenberg, Dr. Kevin A. Carter and Brian J. Wessel) and certain of its executive officers (Hardik Mehta, Chief Financial Officer) are 'participants' (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's shareholders in connection with matters to be considered at the Meeting. Information about the compensation of our non-employee directors and our named executive officers is set forth in the section of the Circular titled 'Executive Compensation,' which commences on page 15 and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section if the Circular titled 'Voting Securities and Principal Holders,' which commences on page 3 and is available here. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the new proxy circular, if necessary, and in other materials that may be filed with the SEC and SEDAR+ in connection with the Meeting.
