by Florin Oprea
Hugh Son, Dakin Campbell & Sonali Basak – Bloomberg (subscription)
Goldman Sachs is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets.
FAO: AHA! So, who’s next to join the game? Jamie (Dimon)? Probably… It confirms my comments on remarks issued by Interactive Brokers Chairman Thomas Peterffy the other day. Bitcoin futures is new business for everybody!
DNT: That’s quite intriguing as long as Goldman CEO, Lloyd Blankfein, has repeatedly expressed his skepticism about BTC. One of his statements can be found here – Fans’ Section. However, we had also Jeff Currie, global head of commodities research for Goldman (read here) – Fans’ Section as well, who had a different opinion about cryptos. The cryptoverse is getting more and more interesting, day by day! We wait for Jamie too!
Stephanie Landsman – CNBC
Wall Street’s first analyst to cover bitcoin never thought it would reach such a fever pitch.
Nick Colas: “It is clear that all of the enthusiasm around bitcoin earlier in the year has now morphed into a general craze, if you will, for all things crypto,“
FAO: Yeaaaahh, just read the next story and weep or laugh your head off…
Arie Shapira, Kailey Leinz – Bloomberg (subscription)
Long Island Iced Tea shares rose as much as 289% after the unprofitable Hicksville, New York-based company rebranded itself Long Blockchain Corp. It’s the latest in a near-daily phenomenon sweeping the stock market, where obscure microcap companies reorient to focus on some aspect of the mania sparked by bitcoin’s 1,500% rally this year.
David Wichner – Arizona Daily Star
Vector, a small-satellite launch startup based in Tucson, says it has inked an agreement with a Tempe company to host a decentralized cryptocurrency on a planned network of satellites.
Nexus will be the first company to deploy a cryptocurrency on a satellite orbiting the Earth when it debuts on Vector’s planned GalacticSky Software-Defined Satellite platform sometime in 2019, the companies said.
DNT: The famous “Space, the final frontier” expression finds its way in Cryptoverse too…How cool is that?
FAO: Beware of those Klingons, you never know what they are up too…
John Geddie – Reuters
Just a street away from Singapore’s central bank, a cryptocurrency firm has set up what it claims is the first cafe in the city-state to be owned and operated by a business promoting its own digital coin.
DNT: This reminds me from the London Coffeehouses from two centuries ago, which brought people and ideas together to discuss and trade stocks and shares. Just as a fun and history fact, stocks and shares were traded first in Jonathan’s coffeehouse. I have the strong feeling that’s also a historic move! We’ll discuss after one century or so :).
Huileng Tan – CNBC
ICOs may have been called a bubble and attracted regulatory scrutiny, but a crowdfunding site is hoping to improve things for legitimate start-ups. Indiegogo launches ICO platform. Slava Rubin, the founder and chief business officer of Indiegogo said that despite the setbacks, blockchain and cryptocurrencies have become a key source of fundraising.
David Z. Morris – Fortune
From a Sunday high of nearly $20,000, Bitcoin dropped more than 22% to a price as low as $15,262 on Thursday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.
DNT: The drop continued even today. At the time of writing, BTC was trading at $13,821.
Lionel Laurent – Bloomberg (subscription)
If you’re Bitcoin-rich and sitting on enormous, life-changing gains, here’s a tip from the pros: Sell loudly, publicly and theatrically. You just might avoid charges of epic hypocrisy.
DNT: Check our FREE ARCHIVE too. We have some nice stories about BTC whales.
Evelyn Cheng – CNBC
Online records from New York-based digital currency trading platform LedgerX showed 275 call options expiring Dec. 28, 2018, were bought at a volume-weighted average price of $3,600. At that price, roughly $1 million was spent on the bet.
FAO: Oh my, the call options were bought in Wednesday’s trading session.….Oh, you might have already seen last night’s action, right? #myohmy…
Evelyn Cheng – CNBC
While cryptocurrency trading has the trappings of established financial markets, Coinbase’s attempt to open trading in a new digital currency shows the industry is still experiencing growing pains.
Now that bitcoin is a mainstream asset, with futures contracts traded at the world’s largest exchange, becoming actual money should be the logical next step.
Ben Chapman – Independent
North Korea is being investigated for possible involvement in a massive cyber-attack on a South Korean currency exchange this week.The Youbit exchange shut down and collapsed into bankruptcy after hackers stole 17% of its assets.
Sujha Sundararajan – CoinDesk
Oscar Williams-Grut – Business Insider
Under-fire cryptocurrency company Tether has hit responded to criticism in the press and online, telling customers it is building new, more secure digital wallets, changing its terms of service, and reopening withdrawals.
FAO: Hackers win! Again, unfortunately…Another hit, another $30m stolen…
Hyacinth Mascarenhas – Internațional Business Times
As the cryptocurrency market continues to grow and coin prices rise, security researchers have warned that a virtual currency “arms race” is looming as nefarious actors look to exploit the lucrative forum. According to security firm Symantec, browser-based cryptocurrency mining activity has not only risen from the dead, but exploded in the last few months of 2017.
FAO: 2017 was a record year for all “inhabitants” of the “cryptoverse”…
Aaron Brown – Bloomberg (subscription)
Bitcoin did a lot of growing up in 2017, but there was one trade this week that could go a long way toward stabilizing the market for the cryptocurrency and further establish its credibility in mainstream finance.
Sujha Sundararajan – CoinDesk
DYdX, an in-development decentralized exchange for cryptocurrency derivatives, has raised an undisclosed amount in a seed funding round. In a post, the startup said that the funding is a notable step in its vision to create the “first ever” decentralized derivatives exchange. Led by Chris Dixon at Andreessen Horowitz and Olaf Carlson-Wee at Polychain Capital, the round also saw participation from notable investors including Coinbase CEO Abstract Ventures and U.S. entrepreneur Scott Belsky.
Jeff John Roberts – Fortune
Bitcoin has defied financial gravity in 2017 but it’s just like any other investment: Uncle Sam expects a cut of the profits when you sell it. And starting in 2018 it will get a little harder to avoid paying up.
FAO: Better call your tax consultant if you are US citizen and trade cryptos!
Lyanne Marek – Chicago Business
The founders of Seed CX are jumping on the cryptocurrency bandwagon and dumping their plans for a platform that would trade exotic commodities like hemp.
Kyle Samani – Forbes
Ripple has built a blockchain-based system that banks use to issue IOUs and settle debts. XRP has two uses: to pay fees on the Ripple network, and as a “bridge currency” for value transfers between any two institutions that don’t have a trusted relationship. However, its native token, XRP, is simply not necessary for the network to
John Peabody – Seeking
The IOTA tangle ledger and corresponding token is an attempt to articulate a superior cryptocurrency platform. If the IOTA narrative is improved and validated it could gain traction and presumably displace and deflate the extant blockchain bubble-coin mania.
Arie Shapira – Bloomberg (subscription)
Shares of NXT-ID, an Internet of Things company that dabbles in biometric authentication, jumped as much as 109% to $3.80 after announcing its latest foray into the world of cryptocurrencies.
Carolyn Beeler – USA Today
As the value of the cryptocurrency bitcoin has shot up in the past several months, so too has its environmental footprint.One bitcoin, which was worth about $800 a year ago, is worth more than 20 times that today. Estimates of how much energy is used to maintain the bitcoin network follows a similar trajectory.
DNT: Happy Holidays to everyone!
FAO: That’s All Folks! See you in 2018!
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News