by Florin Oprea
Gertrude Chavez-Dreyfuss, Anna Irrera – Reuters
Gregory Meyer, Adam Samso – Financial Times (subscription)
Camila Russo – Bloomberg (subscription)
Bitcoin is spiking to a record after CME Group Inc. said it’s planning to launch bitcoin futures as the move could open the floodgates of investors who have been standing on the sidelines as bitcoin soared over 500 percent this year.
FAO: CME press release here. No wonder we dubbed it “the cryptoverse” – it is expanding infinitely – especially after this move from CME. The circle is closed! Game on!
DNT: Whoa….This is probably the event of the year for the “cryptoverse”. Risk management is taken to the next level. Big like!
Oh, I would like to hear Jamie Dimon’s opinion on this…
Jeff Cox – CNBC
After CME said it would launch bitcoin futures before the end of the year, fears quickly arose that money would start cascading in, sparking dark comparisons with a financial crisis-like orgy of speculation.
DNT: There may be a speculation wave but the purpose of this move is another: risk management. Yes, it is an extremely thin line between the “danger zone”, with all the associated risks of speculation, and the “security zone”, brought by a regulated marketplace. However, I reiterate my opinion: a good move for the “cryptoverse”.
FAO: Good comment of my editor, a former stock exchange: PR manager and colleague of mine, Decebal (DNT) (in case you don’t know my background – here it is About Us). CME’s move (although it comes a bit late) was nevertheless anticipated. Why? Because CBOE and other much smaller players (SEFs: LedgerX, Tera Exchange) already announced/started their projects involving crypto-derivatives earlier this year (USE OUR ARCHIVE). This is a powerful endorsement for the “cryptoverse” which is now set to offer all “tools” needed by large investors to jump in. It will take time for the ecosystem to grow and for more players to join the crowd but things get clearer by the day!
Meanwhile BTC reaches $6558.80 – at time of writing, according to coinmarketcap.com
Anyway, you really must read the following Bloomberg piece, it adds pretty much everything you need to know about what’s behind, and in front of, CME’s BTC move:
Nick Baker, Matthew Leising – Bloomberg
The world’s largest exchange owner reversed course and said it plans to introduce bitcoin futures by the end of the year, only a month after dismissing such a plan. The largest cryptocurrency, which has surged more than sixfold this year, climbed to a record high after the announcement.
Samantha Hurst – Crowdfund Insider
Pundi X has successfully closed its pre-sale ICO with a total of 3,148 ETH, 613 BTC and 250,040 XEM, an equivalent to 14,000 ETH or $4 million, secured from 615 investors.
Pete Rizzo – CoinDesk
Bitcoin is gearing up for what could be the biggest (and least understood) change to its software to date.
FAO: Useful read for the coming change.
William Suberg – The Cointelegraph
Even Ethereum’s co-founder has admitted it’s hard to know what interaction the world’s tech giants are planning with cryptocurrency.
Huobi said that it has established offices in Singapore, South Korea, Hong Kong and mainland China, proving operations such as Huobi.Pro, an innovative digital asset exchange for global professional investors, Huobi Korea, a digital asset exchange trading in Korean won, Huobi China, a professional integrated information and research service provider, and Huobi Wallet, which is committed to providing users with digital asset management services, around the world.
Huobi.Pro is headquartered in Singapore, supporting transactions of innovative digital assets.
FAO: As discussed earlier this week, the crypto market structure is moving away from China to friendlier jurisdictions. Looks like Huobi will keep in China “a professional integrated information and research service provider”.
Jemima Kelly – Reuters
Fintech firm R3 and 22 of the world’s biggest banks have together developed an international payments system that would allow existing central bank currencies and any new digital ones to be transacted via the blockchain.
FAO: R3 vs. Ripple, the next chapter. Last month Ripple claimed victory in a suit against R3.
R3 sued rival Ripple in state court in Delaware in September. It accused Ripple of reneging on an option agreement. As a response Ripple sued R3 in California.
DNT: The living proof of blockchain utility. Good job.
Wolfie Zhao – CoinDesk
Cryptocurrencies don’t currently pose “pressing regulatory issues” for the Australian central bank’s policies for payments, two of its officials said.
FAO: Good to see some countries understand what freedom means…
Shannon Liao – The Verge
After years of ambiguous signals, Russian president Vladimir Putin finally clarified Russia’s stance on cryptocurrencies demanding officials set up a legal framework to handle digital currencies.
DNT: Some can consider this love/hate story a thriller, but it looks more like a soap opera. The main character is the state and the state is Vladimir Putin, if I’m allowed to paraphrase the famous expression of king Louis XIV of France. Lots of seasons but everybody can anticipate the final scene: control. So, check a lot of episodes in our Archive. And more information about the last move of Russia’s president here.
Alyssa Hertig – CoinDesk
DNT: Yeah, pretty good topics..Worth checking them in order to identify what interests you the most.
Sam Jacobs – Business Insider
A day trader in Philadelphia has been charged with fraud and market manipulation, in a scheme which allegedly involved the transfer of proceeds into Bitcoin to conceal illegal payments.
DNT: A kind of story that Jamie Dimon and his friends would love…
Michael Mainelli – City A.M.
The increasing hype and speculation surrounding cryptocurrency has drawn attention to its technical robustness.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News