Blockchain Daily News – Edition 258, 25.07.2018
July 25, 2018
Blockchain Daily News – Edition 260, 31.07.2018
July 31, 2018

Blockchain Daily News – Edition 259, 30.07.2018

Today’s Highlights: CLS, IBM and banks test blockchain app store, Pantera Capital Management has generated returns of over 10,000%, since its inception, CME Group CEO Terry Duffy says crypto futures expansion won’t happen soon, Poloniex Exchange to delist 9 coins under new rules & Lattice 80 launches crypto index.

Editors’ thoughts today:

Editor-in-chief Florin Adrian Oprea (FAO): We’re back after the long weekend! Batteries (partly) recharged and almost ready to announce one of our new projects! A proper announcement will soon follow! Stay tuned and keep reading our newsletter! Still for free…

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Time for your daily blockchain dosis brought to you by Editor-in-chief Florin Adrian Oprea (FAO) & Editor Decebal Nicolaie Todarita (DNT)! 6 hours of our work for 6 minutes of your time! We have read the Blockchain news for you, so scroll down to read the best (STILL FREE) daily newsletter in this industry!

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Breaking News

CLS, IBM And Banks Test Blockchain App Store

Anna Irrera – Reuters

FX settlement provider CLS, IBM and nine financial institutions, including Barclays and Citigroup are testing a platform to access blockchain-based applications, the companies said. The platform, LedgerConnect, will offer applications and services provided by different vendors in areas such as customer compliance checks, sanctions screening and collateral management, the companies said.

Deals & Investments

Pantera Capital Returns Soar On 5-Year Crypto Investments

Deyana Laguna – Cryptovest

Crypto-oriented investment firm Pantera Capital Management has generated returns of over 10,000%, since its inception five years ago. The San Francisco-based company revealed the results in a Medium post. The co-chief investment officers Joey Krug and Dan Morehead, who is also CEO, said:“The Fund’s lifetime return is 10,136.15% net of fees and expenses.”

Exchanges & Trading Venues

Crypto Futures Expansion Won’t Happen Soon, CME’s Duffy Says

Brian Louis – Bloomberg (subscription)

CME Group CEO Terry Duffy said that in his nearly four decades in trading, Bitcoin futures “might have been the most controversial launch of a product” and he reiterated the company’s not in a hurry to list more cryptocurrency-related contracts.

“I will not just put products up there to see where they’re going to go,” Duffy said. “I will take a wait and see approach with Bitcoin for now.”

FAO: How about next year? What if Nasdaq and/or ICE are moving in with altcoins futures? BTW – read below…

Nasdaq Holds Closed Door Event to Discuss Policing Crypto

Julie Verhage – Bloomberg (subscription)

Nasdaq Increases Exchange Customers And Looks To Police Crypto

Melanie Kramer – Bitcoinist

Nasdaq inc’s SMARTS trade surveillance technology is now employed by five cryptocurrency exchanges, according to reports. Last week it held a closed-door meeting to help improve the profile of cryptocurrencies in global markets.

Poloniex Exchange To Delist 9 Coins Under New Rules, All React With Sharp Drops

Marin Marinov – Cryptovest

One of the major cryptocurrency markets, Poloniex, announced the first list of nine digital coins that will be taken down from the trading platform after the exchange owner, Circle, recently implemented new asset framework. All coins, namely FLO, FLDC, XVC, BCY, NXC, RADS, BLK, PINK and RIC reacted with big decrease in prices.

Cryptocurrencies

Iran Considers State-Issued Cryptocurrency Ahead Of Imminent Us Sanctions

Osato Avan-Nomayo – Bitcoinist

Iran might soon take a page out of Venezuela’s playbook by launching its own state-issued cryptocurrency. The move is occasioned by the fact that the country is set to come under renewed economic sanctions from the US.

FAO: Petro2?

Lattice 80 Launches Crypto Index

Finews

London-based fintech hub Lattice 80 has launched a Crypto Asia Index to help institutions and Asian retail investors  better understand the market.

Rejection Aside, Calls for a Bitcoin ETF Are Only Escalating

Muyao Shen – CoinDesk

Karma is real. Just as the crypto community was – not so secretly – displaying its joy over Facebook’s historic stock loss, bitcoin’s price took a surprising drop below $8,000. A reaction to the news that bitcoin ETF, one proposed by brothers and co-investors Tyler and Cameron Winklevoss, had been rejected for the second time, it was viewed as another blow to the market.

VanEck Responds To SEC’s Bitcoin ETF Concerns In New Letter

CCN

Money management firm VanEck has responded to the SEC’s concerns over bitcoin ETFs in a letter to the regulator made public on the agency’s website. Addressed to Dalia Blass, director of the SEC’s division of investment management, the letter tackles the five points of order from the SEC’s previous communication with the industry, namely: valuation, liquidity, custody, arbitrage, and potential manipulation.

Euro-Pegged EURS Stablecoin Makes Its Way to HitBTC Exchange

Bhushan Akolkar – CoinSpeaker

HitBTC becomes the first to list one-of-a-kind crypto EUR to crypto USD pair, which now goes for a live trading.

Rare: Bitcoin Mining Company Genesis Cleared of Wrongdoing By Regulator

Edward Kelso – Bitcoin.com

The Securities Commissioner of South Carolina dismissed its previous order of nearly half a year ago against Genesis Mining. It’s rare, and some say this is a first for the state, as the Commissioner hasn’t previously withdrawn such an order. The company plans to resume services in the United States as a result. The case also might mark a turning point in such for firms beginning to fight back against regulators.

Vendors

Bitcoin Sparks PE Fund to Back Wind Farm On Manhattan-Sized Plot

Anna Hirtenstein – Bloomberg (subscription)

Huge Wind Farm To Power Bitcoin Mining Will Be Built In North Africa

Julio Gil-Pulgar – Bitcoinist

As bitcoin mining becomes more expensive and is criticized as being detrimental to the environment, several initiatives are being put forward to reverse this situation. The latest move comes from Brookstone Partners, which involves building a 900-megawatt wind farm in Morocco dedicated to mining bitcoin.

BitPeople

Via Bitcoin Exchange Guide  – Former Goldman Sachs hedge fund manager Benedicte N. Nolens, switches to Circle’s crypto trading firm

Bitcoin Believers Are Flocking To A Sympathetic SEC Commissioner’s Twitter Account

John Detrixhe – Quartz

Crypto Twitter is rallying behind a sympathetic watchdog at the US SEC. Not long after commissioner Hester Peirce dissented from the agency’s rejection of a bitcoin ETF, her count of Twitter followers soared.

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Latest Developments & Agreements

Amateur Investors Get Another Way To Make Risky Crypto Bets

Viren Vaghela  & Donal Griffin – Bloomberg (subscription)

Retail punters now have another way to make risky wagers on cryptocurrencies.

CMC Markets a London-based brokerage controlled by Peter Cruddas, has joined rivals including Plus500 and IG Group Holdings in allowing amateur investors to make bets on Bitcoin and Ethereum.

DNT: Retail traders can use contracts-for-difference, a form of derivatives largely banned in the U.S., and borrow funds to inflate the size of their bets, the firm said in a statement, according to Bloomberg.

Banks Pick Old Tech Over Blockchain For FX Service

Yolanda Bobeldijk – Financial News (subscription)

FX Settlement Provider CLS Begins Final Testing for Blockchain Payment Banking Service

Helen Partz – Cointelegraph

Forex exchange settlement giant CLS is in the final stages of testing its blockchain payment service for banks, Financial News reported. The service is reportedly set to be launched later this summer, with at least seven banks expected to sign on to the system in the early months.

TransferGo’s Dvilinskas: Cryptos Are Here To Stay

Bloomberg (subscription)

UK Remittance Service TransferGo Adds Crypto Trading

Helen Partz – Cointelegraph

UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, Bloomberg reported. TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. According to TransferGo CEO and founder Daumantas Dvilinskas, the crypto trading option was launched “in response to demand from our user base”:

Regulation

Bitcoin ETF Mania Dented as SEC Again Rejects Winklevoss Fund

Rachel Evans & Carolina Wilson – Bloomberg (subscription)

The U.S. SEC again denied an exchange’s request to list a cryptocurrency ETF run by Tyler and Cameron Winklevoss, steepening the odds that any of a clutch of similar proposals will make the grade. The SEC decided to reject the rule change needed for the Winklevoss fund to start trading after reviewing a March 2017 decision, which came to the same conclusion.

Cryptocurrency Rules Should Be Congress’s Focus, Key Lawmaker  Bill Huizenga, Says

Elizabeth Dexheimer – Bloomberg (subscription)

Bill Huizenga, a key member of the House Financial Services Committee wants to see lawmakers focus next year on oversight of the “muddied and fairly opaque” markets for ICOs and trading digital tokens.

Have A Cryptocurrency Company? Bermuda, Malta Or Gibraltar Wants You

Nathaniel Popper – The New York Times

Hedge funds go to the Cayman Islands to incorporate. Big companies are generally domiciled in Delaware. And online poker companies often set up their bases in Gibraltar and Malta. Now the race is on to become the go-to destination for cryptocurrency companies that are looking for shelter from regulatory uncertainty in the United States and Asia.

Events

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Analysis

Here Come The Cryptocurrency Robo-Advisors

Daniel Roberts – Yahoo Finance

Suddenly, cryptocurrencies are rebounding — fast. The timing is auspicious for New Wave Capital, a San Francisco firm launching on Thursday that touts itself as the first crypto robo-advisor. The premise: Cryptocurrency portfolio investing for regular people—that is, not just accredited investors, who typically must prove a minimum income of $200,000 or net worth of $1 million.

Other news

Google Play Store Removes Mining Apps From Offerings

Colin Harper – Bitcoin magazine

Google just nixed any app that mines cryptocurrencies from its Play Store. With a recent update to the store’s policies, the tech monolith rewrote its stance on cryptocurrency apps.

“We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency”.

DIFC Courts, Smart Dubai Launch Court Of The Blockchain

Gulf Today

The Dubai International Financial Centre (DIFC) Courts have partnered with Smart Dubai to create the world’s first Court of the Blockchain. Building on existing dispute resolution services, the alliance will initially explore how to aid verification of court judgments for cross-border enforcement.

 

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News