How are bitcoin and cryptocurrency markets responding to Biden’s new government?
Today, the US stock markets are reopening for the first time after the election results have become known. Some still question the election results, but American media and the Associated Press have definitively named Joe Biden as the new president. It is now up to the market and analysts to determine what a Biden presidency could mean for cryptocurrency. Most analysts seem to prefer a president who says nothing about crypto to a president who belittles bitcoin on twitter. Trump and Mnuchin negative on bitcoin Qiao Wang, the big man at the DeFi Alliance decentralized financing project, applauded Trump’s loss, noting that the president had tweeted negatively about bitcoin and libra in the past: https://twitter.com/chris_sun/status/1325265604220121088 Meanwhile, Galaxy Digital investor Mike Novogratz said a democratic government would be good for crypto, saying an ongoing stimulus program would bolster bitcoin’s anti-inflationary narrative: https://twitter.com/novogratz/status/1323973781619134465 The prices of bitcoin and other cryptocurrency’s depend very much on the strength / weakness of the US dollar. So it is interesting to follow what Biden’s plans are for additional stimulus measures, due to the economic damage caused by the coronavirus. There is also speculation about the upcoming government’s plans and opinions on cryptocurrency. Compound’s Jake Chervinsky noted that the opinion of the puppets that Biden puts in key positions is more important than the opinion of Biden himself. https://twitter.com/jchervinsky/status/1325152892324519936 Gary Gensler is such a “puppet.” He is the former chairman of the CFTC and then appointed by Obama. He is expected to be part of Biden’s transition team. Gensler has spoken positively about bitcoin in the past, and is known for his tough enforcement of Wall Street regulations in the wake of the 2008 financial crisis. Another candidate is economist Lael Brainard. He has done extensive work for the US Central Bank (FED) and, together with MIT, led an investigation of CBDCs. Brainard is expected on the deposition of the Minister of Finance. We still have to wait for an initial response, the stock markets open today at 2:30 PM. A fierce initial reaction could have its aftermath in the crypto markets.
Greetings! 👋🏻 Today, we will tell you why 2020 should be the year of bitcoin. 📉 Due to the significant collapse of world markets and the isolation of most countries against the backdrop of the unfolding coronavirus pandemic, some analysts predict that the shocks through which the global economy passes in 2020 can overshadow the scale of the 2008 financial crisis. The founder and CEO of Galaxy Digital, Mike Novogratz, recalled that the creation of bitcoin was a consequence of the 2008 global economic crisis, and it is likely that this full year of trials could seriously push the cryptocurrency industry. Novogratz published an optimistic tweet about Bitcoin just a few hours after the US Congress was unable to adopt a package of economic measures to combat coronavirus: 💬 “Bitcoin will continue to demonstrate volatility over the next few months, but such a macroeconomic background is why it was created. This year will be and should be the year of bitcoin.” This month, all traditional assets have seriously fallen - this has not been seen on the markets since 1987 - this decline affected the first cryptocurrency. At some point, Bitcoin lost 60% of its value, dropping to some $ 3600 on some exchanges. Frightened by the coronavirus, investors continue to sell their assets in panic. Nevertheless, Novogratz remains optimistic and sees potential opportunities for the growth of the main cryptocurrency against the backdrop of a developing crisis. After all, Bitcoin - a cryptocurrency that is resistant to censorship and manipulation with limited emission - was developed precisely as an alternative to an unstable world monetary system. 💬 Changpen Zhao, CEO of the largest cryptocurrency exchange Binance, agrees with Novogratz last week - he said that he was absolutely sure that Bitcoin will take its place in the future as a safe haven for assets, given that its emission is limited and impossible to manipulate like fiat currency. 🏆 PZM Cash is a cryptocurrency created as a means of payment for a rapidly growing ecosystem in which the economic motives of each individual participant provide an increase in overall wealth. The main strategic success factor for PZM Cash is its bet on the growing scaling and balancing of money supply and demand. The main characteristic of PZM Cash is its focus on the rapid scalability of both the money supply and the offer of services from developers and partners. The development and scaling of PZM Cash infrastructure can be carried out in several directions including сreating of Dapps, protocol export, currency from partners. Read more about PZM Cash here: https://pzmcash.com/en/ And in our white paper: https://pzmcash.com/docs/WP_MARCH2020_ENG.pdf 🔔 Like, share, and stay tuned for new exciting posts! https://preview.redd.it/zicngbhkliz41.png?width=1200&format=png&auto=webp&s=8e122a0d3cdda2004d6ced108ca342cc10c1c143
I quit my job and today was my last day. This was made possible in part by Ethereum. I first bought Ether at 10 dollars back in January after hearing an interview with Vitalik. It sounded like a neat techonlogy and I thought maybe in 5 years I would see some returns. I had no idea what was about to happen. Fast forward 9 months and all I can say is it's been a hell of a ride. For my fellow Ethtraders, here a few lessons I've learned - usually the hard way - along the ride so far... 1) You, me, Jamie Dimon, Mike Novogratz, ScienceGuy9489 and even Vitalik have no fricking idea what's gonna happen. He's said so himself. Ethereum could shoot up to 750 tomorrow and then fall to 75 the next day. Or it could lurk around 300 for the next two years before exploding to 3000. Who knows! If you have conviction in the technology invest what you are willing to lose and don't get hung up on the day to day movement. It's just noise. 2) This has been said a million times, but for good reason: Don't invest more than you're willing to lose. For most people, this means no more than 10-20% of your money. This really goes for any asset class, even cash since there's inflation risk - but especially crypto. Ideally, in addition to crypto your money is diversified among a variety of asset classes like fiat, stocks, bonds, gold, etc. 3) Never, ever buy or sell on emotion. As a rule, if you feel like you have to buy or sell right away, then you don't. Sure, you might luck out once or twice doing so, but this is called gambling, not trading. Being impulsive will ultimately screw you over. Our brains are running on millennia old legacy software designed to run away from threats e.g., panic sell, to follow the herd e.g., fomo buy, and in general to survive, not to be rational. When big dollar signs are flashing around, our lizard brains think it's life or death and all reason goes out the window. This is why the vast majority of traders, even professionals, lose money. Of course in a bull market everyone is a genius. So it's easy to kid yourself, but you're probably not a great trader. I know I'm not. I've read books on trading, and I'm not a total idiot, but the fact is I would be sitting on a lot more Ether right now if I had just bought and held rather than getting all fancy. There are a few folks who have zen-like discipline or years of experience, but for the rest of us, short-term trading is a losing game. That said, you can treat a small portion of your holdings as play money that you daytrade. Just don't be surprised if it's gone next week. 4) Don't be a maximalist. God knows I was when I first arrived here. I thought Bitcoin was Myspace and Ethereum was Facebook. I came to realize Bitcoin and Ethereum are not competitors; they are trying to do different things. The world needs both gold and oil. 5) This may sound blasphemous, but don't be absolutist about HODL-ing. For most, I think it's wise to take some profits as it goes up by selling a small to moderate portion of your holdings. Then, if/when it majorly corrects you won't freak out and panic sell. Instead, you can buy some back at a lower price. And if it doesn't correct, you'll still walk away with some profit and peace of mind. Now, if you are very patient and don't need to take profits it's fine to 100% HODL if you are truly able to stick with it. Just be honest with yourself. There are a lot of fair-weather 'hodlers' here who hit the sell button whenever there's a major pullback. It's better, not to mention a hell of a lot easier to sell when it's pumping up than when it's plummeting. 6) It's human nature to never be satisfied. No matter how low you bought, you'll wish you had bought lower or bought more. Or you're gonna kick yourself for not selling at a peak. Remember, most people in this world still have no idea what Ethereum is and even if they do, they do not see its potential like you and me. We're early to the party. 7) Keep your life in balance. This is more important than all the above combined. Sure, it's fine to go through a phase where this consumes your life, but if you spend all day and night staring at red and green on GDAX your health and happiness will suffer. Trust me, I've been there. Trading is already addictive but throw in a 24/7 market that never sleeps with bewildering volatility and you have the perfect recipe for sleep deprivation, anxiety, and manic ups and downs. If you're overly obsessed with checking prices, try either setting ground rules (what I do is that I only check prices between 10am and 10pm) or step away completely for a few days or a week. I've done this a few times and I always return to the markets with renewed energy and perspective. Money is important but once you have enough to get by, it's far less so than friends, family, health, and finding meaningful things to do in life. Remember guys, love over lambos, balance over Binance, and bros over blockfolios.. okay that last one was a stretch.. Finally, it's been said before, but that's because it's the truth: the joy is in the journey. Everything in this world is temporary. Whether Ethereum faces some existential threat and gets wiped out tomorrow or goes on to revolutionize human civilization for centuries to come, someday something else will come along and replace it. Likewise, your stash may someday be worth zero or a million. But either way you will have won the bigger game in town if you enjoyed the ride and learned a few things along the way. Stay safe, stay hungry, and enjoy the ride! Note: Thank you guys for all the replies and encouragement, it means a lot. I had no idea this post would blow up like this. In hindsight, I wish I had titled this post something different and put less emphasis on the quitting job part because that's not what this post is really about. I realized from the responses that the post gives the impression that I am retiring for the rest of my life and intend to never work again. This is definitely not the case! Ethereum simply expedited me getting out of a job situation that I wanted out on anyway and has afforded me some more flexibility and freedom in the short to medium term. While I'm taking a bit of the break from the grind right now, I'll be pursuing work a bit down the line both for financial reasons and because it's part of a meaningful life
Find Out Why Institutions Will Flood the Bitcoin Market
As originally written via CoinLive: (improved reading experience) Back in 2017, the blockchain industry experienced an unprecedented interest which ended in what is often referred in financial terms as “irrational exuberance”, with a large portion of the rally led by retail-type investors flooding the market to ultimately chase prices at illogically hefty levels based on the infancy stage of the technological advancements and its implementations. That rise was too fast too quick and eventually, in early January 2018, the bubble-like move came to an abrupt end. The question now is, what will it take for another sustainable bull run to materialize? At CoinLive, we will inspect the key missing pieces of the puzzle. In this article, we will investigate the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass. The two critical impediments for the ‘smart money’ to have been on the sidelines are clearly identifiable. Firstly, it has to do with custodianship, in other words, having formal mechanisms that allow the safe storage of the asset. Secondly, the regulation around the crypto market must be clarified with clearer guidance. When it comes to the first missing piece of custodianship, the NY Times recently helped shed a light on where we are headed. The influential newspaper reported that ICE (Intercontinental Exchange), which is the parent company behind the NY Stock Exchange (NYSE), is working confidentially in the implementation of swap contracts for banks and large investors that will be settled with the physical delivery of Bitcoin. For ICE to even consider this idea it means that the problem of legal custodianship is being worked out so that the backing and security of Bitcoins by the NYSE will be in place. This will open the floodgates to a whole new market, where the King of cryptos and other digital assets down the road become available to a much wider and more influential customer base. We are certainly at a stage where institutions have recognized that Bitcoin is “too big to ignore”. What’s also important is that by using a swap contract, the trading of Bitcoins will be oversight under the existing regulatory framework of the Commodity Futures Trading Commission, hence less regulatory uncertainty. As a reminder, the CFTC is headed by J. Christopher Giancarlo, who is a proclaimed pro-blockchain endorser after his popular appearance in front of a U.S. Senate hearing on blockchain technology last February, where he famously said: “We owe it to this generation to respect their interest in this new technology.” Moreover, earlier this year, Boston-based State Street, the world’s second-largest custody bank with around £24tn in assets under custody and administration, came out to announce that safeguarding clients' digital assets could be a service they are looking to provide a solution in the near future. If confirmed, it would represent a major move as it sets a precedent as the first global bank to provide custodianship services for crypto-related investments. While Bitcoin is not serving its initially intended purpose as a widely used method of payments (for now), it has found another appeal as a store of value that is uncorrelated to any other asset class, hence it has an exceptional use as a hedging strategy for multi-billion dollar portfolios to help reduce the overall volatility. Other stories strengthening the notion of institutional capital set to come into the cryptoverse include the news that Goldman Sachs will be trading futures contracts linked to Bitcoin’s price as an initial step, only to gradually transition into a more direct trading of buying and selling actual Bitcoins. Find our recent article where we explain why Goldman Sachs trading Bitcoin is such a big deal. Even the chief executive of Nasdaq, Adena Friedman, recently said considerations were being given to set up a virtual-currency exchange should the needed regulatory framework be resolved. Additionally, we have seen a growing trend of senior-level executives at institutional firms flocking off the safety of their well-established positions to venture into blockchain-related jobs. We include a few articles with evidence below: Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds Mike Novogratz Makes Goldman VP the COO of His Crypto Company Coinbase Hires Ex-Barclays Director to Expand Its Institutional Client Base Commonwealth Bank CFO to Lead Block.one as President and COO The migration in job positions from traditional financial markets into blockchain comes as no surprise and quite frankly, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, which has more than 100,000 employees and over 150 years of history, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream is formidable once they decide to integrate cryptocurrencies into their business models. Another piece of the puzzle, even if occurring behind closed doors, is the consideration to launch a Bitcoin ETF. Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place. More evidence of the emergence of institutions playing a more dominant role in the blockchain industry is the unprecedented interest to amass Bitcoins in the OTC (Over the Counter Market). We perceive this trend as directly linked store Bitcoin as a store of value. This article by Bloomberg should give you a taste of what's happening behind the scenes: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers. As ConLive recently tweeted: "Our network of Insiders telling us between 5000-10.000 BTC are being sold every week OTC by Chinese BTC miners to Israeli buyers - Wall Street type - as they look to accumulate a big hand in BTC. “ !(https://coinlive.io/ckeditor_assets/pictures/868/content_2018-05-15_0957.png) Lastly, one of the most critical missing piece is the subject of global regulations. Back in March, Mark Carney, the head of Bank of England and the chief of the Financial Stability Board of G20 stated that “crypto-assets do not pose risks to global financial stability at this time.” That caused a temporary relief in the crypto sphere as the risk of a regulatory backlash was removed for the time being until July, the month when more clarity will be provided. The chair of the Argentina Central Bank, Federico Sturzenegger, on his role of sitting the G20 summit, said that members showed a unifying view on the need of cryptocurrencies to be supported by a more sound regulatory framework. The policy-maker, however, made it clear that they first need to examine the cryptocurrencies universe to gather the necessary data before proposing regulations. “In July we have to offer very concrete, very specific recommendations on, not ‘what do we regulate?’ but ‘what is the data we need?” Sturzenegger said. To sum up, the improvements in custodianship solutions, along with more clarity by the G20 committee, which is set to provide less uncertainty for institutional investors’ involvement, is a recipe for a renewed bull wave, this time of institutional capital, to shake up the crypto space. At CoinLive, we will not venture into the timing, as that is quite irresponsible trying to pretend we have a "crystal ball" to determine when moves will occur. We just simply look at the big picture and try to connect the dots by first breaking down the latest developments to then draw some conclusions. Never forget, markets should always be approached as a numbers' game, and while nothing is certain, we just attempt to envision and inform on scenarios with the highest likelihood.
Michael Novogratz: Bitcoin is consolidating in the range of $ 7000- $ 10,000 | ICO LIST
Billionaire investor and founder of the cryptocurrency bank of Galaxy Digital Mike Novogratz is confident that the price of Bitcoin is consolidating in the range from $ 7,000 to $ 10,000. "If I'm wrong on that, I think I'm wrong to the upside, that there's enough excitement and momentum that it could carry through," said a former Goldman Sachs partner during a conference call dedicated to quarterly indicators of the company. #icorating #iconews #cryptonews #Binance #GBTC #JosephYoung #BNB #Goldman Sachs #icolink #GalaxyDigital #MikeNovogratz #bitprice
Cryptocurrencies are mostly red as Bitcoin trading volumes in South American countries reach another all-time high
According to a tweet from one of its senior employees, Blockchain trust company, Paxos, has issued approximately USD$50 million worth of its US Dollar-backed stablecoin, Paxos Standard (PAX). PAX received regulatory approval from the New York State Department of Financial Services early in September. Paxos claims that PAX has, “achieved the fastest, wildest institutional adoption of any digital asset.” So far, six of the ten largest cryptocurrency exchanges, including Binance and OKEx, have listed PAX as a trading pair.
DocuSign, a San Francisco-based company with over 400,000 customers, announced in a press release this weekend that it would begin to integrate the Ethereum blockchain into its electronic signature and transaction management service. DocuSign will offer customers an option to have evidence of a DocuSign agreement listed on the Ethereum blockchain. According to Ron Hirson, Chief Product Officer at DocuSign, the record on the Ethereum blockchain will act as “tamper-proof evidence for the transaction” that “enables any completed document to be validated independently.”
Following an announcement yesterday by OKEx that the cryptocurrency exchange would list 4 stablecoins, Huobi has announced that it would soon begin listing four US Dollar-pegged stablecoins on its cryptocurrency exchange. In its announcement, Huobi detailed that it would list TrustToken’s TUSD, Circle’s USDC, Gemini’s GUSD, and Paxos’ PAX. Huobi Is currently the fourth-largest cryptocurrency exchange in the world by daily trading volume.
Kenya’s government is planning to leverage blockchain technology to manage its government housing project responsible for 500,000 units, according to a report by Kenyan news outlet, Star. The housing project entails the construction of 500,000 housing units by 2022 and mortage assistance for Kenyans making less than 100,000 Kenyan Shillings (USD$992) who cannot afford mortgages. Blockchain technology will be used in the project to evenly distibute the housing to deserving participants.
Notable investor and creator of Galaxy Investment Partners, Mike Novogratz, has pulled back his forecast for Bitcoin, telling Bloomberg on Monday that he does not believe Bitcoin will surpass USD$10,000 in 2018. In explaining his forecast, Novogratz said, “I think Q1 [or] Q2  if the institutions start coming in, we’ll put in new highs.” Novogratz happened to be speaking while Fidelity Investments announced the creation of a new venture, Fidelity Digital Asset Services. In regards to Fidelity, Novogratz said, “They’ll probably be up and running in January or Q1.”
Peer-to-peer Bitcoin trading volume levels in Argentina, Venezuela, and Egypt have hit all-time high levels so far through October 2018. In Argentina, citizens have flocked to use Bitcoin as a result of the recent economic crisis in the country -- Argentinian regulators have even relaxed regulations to allow for more Bitcoin ATMs in the country. In Venezuela, citizens have been gearing up for the November 5th launch of the state-backed Petro cryptocurrency, although reports indicate that there is little pointing to the Petro’s existence in the country. Meanwhile, Bitcoin transaction volumes in Croatia and Switzerland have hit 2018 lows.
Ping An Insurance, one of China’s largest insurers, is pursuing innovation in blockchain technology, artificial intelligence, and cloud technology. At Ping An Insurance’s Investor Day last week, top Ping executives delivered presentations and analyses of Ping’s business in relation to the innovative technologies. Chief Finance Officer, Jason Yao, said at the event, “We will further improve the strategy of Finance and Technology and pursue Finance and Ecosystem. By leveraging five key technologies, namely AI, blockchain, cloud, big data, and security, we will keep improving efficiency, lowering costs, optimizing user experience, and strengthening risk control, to enhance competitiveness.”
While speaking at the Institutional Crypto: Laying the Foundation conference in New York City hosted by Bloomberg, Gary Gensler, former chairman of the US Commodity Futures Trading Commission, said that most cryptocurrencies sold through initial coin offering (ICO) should be classified as securities. Gensler went on to say, “I think cryptocurrencies like Bitcoin need more protection, and probably more protection than even the oil markets.” When asked about blockchain technology, Gensler replied, “we should be technology-neutral.”
What to Expect from 2019? Crypto Experts Share Their Predictions!
🌎CryptoCurrency News 💸Cryptocurrency has had it rough since it reached its peak of about $20K in December 2017. ➡️ As expected, industry insiders and some of the biggest influencers in the space have given their opinion about the current bear market as well as shared their expectations for the crypto and blockchain industry over the next year and beyond. Mike Novogratz, CEO at Galaxy Digital, and other crypto evangelists say 2019 will be a milestone year fueled by a surge in institutional investments. In fact, he predicts that Bitcoin prices will hit record highs in 2019.💰 ‘By the end of the first quarter of 2019, we will take out $10,000. After that, we will go back to new highs — to $20,000 or more'.📈 ✔️Changpeng Zhao 'CZ', CEO of the crypto exchange Binance, remains optimistic about the crypto industry. ‘2018 was a tough year, but we have a longer term outlook for our industry. The builders have been building in 2018, so for 2019, I think we will see a lot of real products and real applications coming into the market'.👨🏼💻 Spencer Bogart, the Blockchain Capital partner, believes the digital currency can still correct up to 1328% from its current value. He believes Bitcoin can rally above $10K next year.💶 ‘2018 has been a fantastic year for bitcoin. Forget prices. This is the first year in which we started to move to scale bitcoin with the Lightning Network where you can transact extremely quickly and extremely cheaply'. 📊 ND Invest has far going plans for 2019: 🔹ICO 🔹Finalizing the development of ND native application 🔹New real estate developer and car dealership registrations in all cities and towns of the world 🔹NDCOIN is listed on cryptocurrency exchange Stay tuned!
“We are working with a number of other partners,” Zhao said. “[With] xRapid, there’s nothing going on right now. But in the future, we definitely want to add them as a partner.”
XRapid is a Ripple product that uses its native XRP cryptocurrency to provide real-time liquidity and reduce the capital requirements necessary for financial institutions to operate in emerging markets.
CHANGPENG ZHAO: ‘OUR AIM IS 10, 50, 100 YEARS’
In response to a question about whether Binance can survive another year of a bear market, Zhao said absolutely. In fact, Zhao says Binance ― the world’s largest crypto exchange ― will still be there in 100 years no matter what happens to the industry. Zhao says his team does not obsess over daily bitcoin price fluctuations because it has a long-term focus and concentrates on its work. Accordingly, there’s no hourly hand-wringing like those that plague crypto holders with short-term, day-trader mindsets.
“Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much ― not as much as people actually think we do. We just keep our heads down and build features.”“Binance is very healthy financially and also very stable in terms of the team. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So we’ll be here for a while.”
CRYPTO OFFERS FREEDOM
Source: Shutterstock Zhao revealed that once he started learning about cryptocurrencies and how bitcoin works, he was immediately drawn by the freedom the decentralized virtual currency offers. Zhao says the borderless virtual world of crypto really attracted him because of his background having lived abroad in many different countries.
“Once I learned about crypto and how bitcoin works, I just understood that’s the future. I think it’s the freedom that crypto offers that really attracted me.”“I’m a guy who has lived in multiple countries around the world, even at a very young age. So the concept of a country or a border is more virtual to me. And when you’re traveling between different countries, you know the difficulties with traditional fiat currency.”“Like for example, if I have my money in one country and I moved to a different country and try to pay, it’s really awkward. The system doesn’t work very well. So that’s how I got into crypto.”
ZHAO DOESN’T CONSIDER BINANCE SUCCESSFUL
As he looks ahead, Changpeng Zhao says he’s proud of the progress Binance has made so far. However, he does not consider Binance to be “hugely successful.” That’s because the industry is still developing, and his team is still very small and young.
“For Binance, our achievements and success so far are just ― I hope ― at the beginning, so I don’t view Binance as hugely successful.”“I think as an industry and as a company or as a team, we’re still very small and we’re still very young. So there’s still a lot of work to do.”
WORDS OF ADVICE: ‘IGNORE ALL THE NOISE’
Zhao says it’s important for the crypto industry to not become stagnant or get distracted by media hype. The most important thing, he says, is to stay focused and do the work.
“Look, there’s a lot of random noise in the crypto industry and outside of the crypto industry about us. The best advice [to crypto entrepreneurs] I can give is: Keep your head down, figure out your strength, and use your strength to build a product that other people will use.”“As long as other people use your product, then your product has utility value. Just keep your head down and keep adding value. That’s the best advice I can give. Ignore all the other noise.”
Changpeng Zhao Image from REUTERS / Darrin Zammit Lupi
$16m Caspian Pre-Sale a Big Boost to Crypto Industry
Institutional-grade crypto trading platform Caspian, has raised US$16million in a pre-sale of its CSP token, it announced today. Accompanying this is the announcement that the platform is now live and no longer in beta testing. Caspian also revealed it has 170 institutional-grade customers interested in on-boarding to its platform, with 15 customers already using it — perhaps the strongest signal yet that financial institutions are ready to embrace cryptocurrencies. It’s significant news for a crypto investment community that is looking to Caspian — which has a community numbering almost 100,000 — to spark an influx of institutional investors that could in turn lead to rapid growth in the cryptocurrency market. Caspian’s platform provides a single interface into all major crypto exchanges, as well as real-time and historical P&L and exposure tracking. The system has been designed to meet the needs of institutional investors who need to execute trades and maintain target allocations across many exchanges. Pre-sale investors and customers include Galaxy Investment Partners, Global Advisors, Octagon Strategy, Kenetic, Techemy Capital and Bletchley Park. Caspian recently entered into strategic partnerships with Blocktower and Galaxy Digital Capital Management, led by Bitcoin evangelist Mike Novogratz. Novogratz said: “We believe institutional investors will drive exponential growth in the cryptocurrency market, and Caspian are becoming a big part of this story. We’re excited to be in partnership with them and expect exciting developments over the next few months.” Caspian is now connected to over 24 different exchanges including Binance, Bitmex, Bitfinex, Gemini, Coinbase, Huobi and OKex. Coinciding with public sale of the CSP token, the Caspian platform is now live and no longer in beta. This will give purchasers of the CSP token who have on-boarded to the Caspian platform the ability to maximise its utility from day one. The public sale of the CSP token takes place on October 3, with interested parties encouraged to join the whitelist as soon as possible in order to avoid disappointment. For more information, please visit: https://caspian.tech/caspian-token/ Currently residents of China, USA and UN Sanctioned countries are not allowed to participate.
Cryptocurrencies mixed this morning after yesterday's rally, study released suggesting hard-forks weaken market's stability
Austin, Texas is working on a blockchain-based identification system that is geared towards helping homeless individuals keep track of important documents, like birth certificates, social security cards, and other identification documents. City officials cited that in the past, they have had difficulty providing aid to homeless people, as lack of identification has been one of the biggest deterrents. The city of Austin has been working closely with the University of Texas’ Dell Medical School and Austin-Travis County’s Emergency Medical Services on the project.
Seasoned blockchain researcher, Vlad Zamfir, claims to have created code for a successful proof-of-concept idea at Ethereum’s hackathon, EthBerlin. Zamfir worked with several other developers, including Tim Beiko and John Marlin, in creating code demonstrating how Ethereum shards could one day circulate on the blockchain. Sharding is an experimental scaling solution that alleviates the strain of a grown network by breaking the blockchain into smaller units, known as shards.
Brae browser, an open-source blockchain-powered browser developed by Mozilla co-founder Brendan Eich, has filed a privacy complaint in Ireland and Britain against Google. Brave’s complaint states that Google and the online advertising industry practice “wide-scale and systematic breaches of the data protection regime.”
Coinmarketcap may allow users to vote on what assets to track after Bitcoinist reported a scandal with exchange platform Binance involving extremely high listing fees and lack of adherence to decentralized principles. Coinmarketcap was also forced to remove South Korean crypto exchanges from price data after excessive volatility in local markets last January. Coinmarketcap may see user voting as a solution to these scandals.
Homero Joshua Garza, CEO of GAW Miners, was sentenced to 21 months in prison after defrauding investors, according to the Hartford Business. Garza received this sentence after pleading guilty to a wire fraud charge that related to the creation and sale of a scamcoin, PayCoin. The CEO of GAW Miners will be forced to pay USD$9.2 million in restitution to investors.
IBM announced Thursday that it has joined a decentralized cross-blockchain registry initiative, known as the, “Yellow Pages for Blockchain Projects.” The initiative, known as Unbounded Registry, is led by blockchain startup HACERA and aims to “provide a decentralized means to register, look up, join, and transact across a variety of blockchain solutions.” Other members of this initiative include some big players, like Huawei, Batavia, Hitachi, and the Australian Blockchain Association.
Initial Coin Offerings (ICOs) have sold three times as much Ethereum (ETH) in the past ten days as they did in the entire month of August, according to research by TrustNodes. Over USD$33 million of ETH tokens were sold, with more than half of that coming on September 4, which was followed by a sharp decline in crypto markets.
Large Japanese financial company, SBI Holdings, is preparing to launch a payments application for both iOS and Android that would be powered by Ripple’s distributed ledger technology. The application would enable customers to execute transactions 24-hours a day by using either a phone number or QR code, with the main goal being to eliminate time constraints associated with traditional banking methods.
Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital Capital Management, said in a tweet Thursday that he believes the crypto market has reached a bottom. In explaining his reasoning, Movogratz cited that yesterday, the market touched a low seen late in 2017 and immediately rallied. Novogratz believes the crypto market is retracing its breakout that caused the cryptocurrency boom in late 2017/early 2018.
Oak Ridge Institute for Science and Education fellow, Benjamin Trump, published a paper reviewing the state of cryptocurrency “forks” after investigating over 800 soft and hard forks from Bitcoin. The study suggests that stability in cryptocurrencies are hurt mainly by hard forks. Trump also argues that governance challenges seen in cryptocurrencies can have an effect on people’s trust in cryptocurrencies, hurting its capacity to serve as a reliable vehicle of exchange.
R3 hosted its annual gathering of the Corda platform community known as CordaCon 2018 in London over the past two days. The event saw a huge spike in demand from last year's registration numbers, seeing over 1,100 registrations in just two days. Corda runs Corda Marketplace, a ‘pseudo app store’ where users can discover new partners to help build decentralized applications on Corda’s blockchain.
Robinhood, the low-cost investing app that is popular with millennials, sells users’ data to other financial companies, according to their 2nd quarter SEC filing. The SEC filing reveals that Robinhood profits millions from selling its users’ data to high-frequency trading firms. A report on Seeking Alpha goes on to suggest that Robinhood’s sale of customer data may be a conflict of interest and bad for its customers.
A study conducted by Coin Telegraph reveals that Bitcoin mining energy consumption is not as intensive in summer months compared to the rest of the year. The study attributes more expensive electricity costs in summer months as the reasoning for crypto mining seeing less energy consumption growth over that same time-period. Bitcoin’s Proof of Work validation process has faced criticism in the past, as Bitcoin mining uses about as much electricity as country’s like New Zealand and Columbia.
Sonny Singh, Chief Commercial Officer of crypto payments processor, BitPay, said in an interview with Bloomberg Wednesday that he believes altcoins will never come back while Bitcoin will see a rebound in 2019. Singh believes cryptocurrency markets are at a point where they need a ‘defining moment’ to breakout, and that defining moment will be when large institutions like Goldman Sachs and Morgan Stanley truly get involved with cryptocurrencies.
https://preview.redd.it/ds1rjufgecx11.jpg?width=1080&format=pjpg&auto=webp&s=8598599a6ccc4acc91c33b1f325adc8a5e290042 ✅Stellar Conducts Largest Ever Crypto Airdrop, Gives Away $125 Million Worth of XLM to Blockchain Wallet Users The Stellar Development Foundation, the nonprofit organization behind Stellar (XLM), announced on Tuesday that they will be doing the largest airdrop in cryptocurrency history. The airdrop will consist of $125 million worth of Stellar Lumens (XLM) to be distributed to users of the popular Blockchain Wallet. Friday news: 🔸Mike Novogratz’s Galaxy Digital Hires Goldman Sachs Exec to Oversee Blockchain Unit Mike Novogratz’s crypto investment bank, Galaxy Digital Capital Management, hired Goldman Sachs banker Ian Taylor to oversee the group’s advisory-services arm. Taylor will join Galaxy Digital before January 2019, sources told Bloomberg. 🔸Early Bitcoin Adopter Gavin Newsom gets Elected Governor of California Democrat Newson won against Republican John Cox by a landslide. 51-year-old Newsom had been trying his luck to become governor for a decade and has finally succeeded to become the governor of California state. Gavin was the first governor to accept Bitcoin back in 2014 to show his support to the technology. 🔸Singapore-based Crypto Exchange, Huobi, to Open Office, Support Center in Russia Digital asset exchange, Huobi, will open a new office in Russia. Huobi's Russian language website will go live on November 12th, as it officially opens the office on the same date. 🔸Bitmain Sues Mystery Bitcoin Thief Who Hacked Its Binance Account Bitcoin mining giant Bitmain has filed a lawsuit against a mystery hacker who allegedly stole bitcoin from one of the firm’s cryptocurrency exchange accounts. According to the suit, which the China-based Bitmain filed on Nov. 7 in the US District Court for the Western District of Washington, the unknown hacker infiltrated Bitmain’s Binance account in April and stole funds from the firm.
“We have investments in exchanges. The best Investment by a long shot have been the Exchanges. The Exchanges are printing money right now. You wish you owned a big chunk of coin base or bitfinex or any of these big Exchanges.” EDIT: source: https://www.cnbc.com/video/2017/12/12/the-man-who-called-the-bitcoin-rally-sees-this-for-litecoin.html What do you think AIRSWAP is going to do? My guess is it will go up in the long term. They have a great team with a lot of experience. $500 million dollar cryptocurrency hedge fund ‘Galaxy Investment’ run by Mike Novogratz is going to use AirSwap as their primary exchange. This is very big news for cryptocurrencies in general. AirSwap is available on Binance if you are interested.
Mike Novogratz Says 2020 Is Bitcoin’s Year, Crypto Industry Leaders Confirm Rising Trading Volumes for BTC and ETH June 30, 2020 21:06; Bitcoin trading volume is up over 17% at $47 billion compared to $40 billion on Sunday. Currently priced at $6,274, the price of BTC is also up 5% in the past 24 hours. The rise is prompting industry leaders to speculate that Bitcoin, in a bid to emerge as ... Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to BeInCrypto that he added to his bitcoin position on Oct. 19, a decision made on prescience leading into a rally on Oct. 20. And it’s what he had to say about where the BTC price is headed that could give investors a chance to capitalize on the momentum. Mike Novogratz, CEO von Galaxy Digital und ehemaliger Partner von Goldman Sachs, ist nun davon überzeugt, dass sich Bitcoin in einem ausgewachsenen Bullenmarkt befindet. Bemerkenswert ist, dass er den Bullenmarkt viele Monate zuvor schon vorhergesagt hat – als Regierungen auf der ganzen Welt begannen, Billionen in die Wirtschaft zu investieren. Ahead of bitcoin's wild price swings, former hedge fund billionaire-turned crypto investor, Michael Novogratz, warned crypto's "speculative frenzy" was getting carried away... Galaxy Digital chairman Michael Novogratz said that bitcoin is his pick under the current financial situation, describing it as an "amazing environment" to buy bitcoin. With "global money printing ... Meanwhile, speaking earlier, Galaxy Digital CEO and Founder, Mike Novogratz remarked that he thought “we’ve crossed the Rubicon, and that everyone is scrambling to try to be in this business.”
INFINITE QE IS HERE! BITCOIN & CRYPTO EXPLOSION? CZ Binance, Mike Novagratz & WillyWoo REVELATIONS
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