Day: January 24, 2019

Crypto Tidbits: Bitcoin Bull Raising $250M, Binance Launches OTC, ETF Pulled

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The crypto market may be in the midst of a mundane, multi-month lull, but the Bitcoin news cycle has begun to pick up steam. Save for the withdrawal of VanEck’s Bitcoin exchange-traded fund (ETF) application, this sector’s upstarts made strong fundamental steps forward. A former Wall Street investor began his search for $250 million for a cryptocurrency fund, while Coinbase and Binance pushed new offerings. Moreover, rumor has it that two monumental, potentially paradigm-shifting crypto-centric business deals are slated to finalize in coming weeks and months. Crypto Tidbits VanEck Bitcoin ETF…

Crypto Tidbits: Billionaire Raising $250M For Crypto Firms, Binance Launches OTC

boss

The crypto market may be in the midst of a mundane, multi-month lull, but the Bitcoin news cycle has begun to pick up steam. Save for the withdrawal of VanEck’s Bitcoin exchange-traded fund (ETF) application, this sector’s upstarts made strong fundamental steps forward. A former Wall Street investor began his search for $250 million for a cryptocurrency fund, while Coinbase and Binance pushed new offerings. Moreover, rumor has it that two monumental, potentially paradigm-shifting crypto-centric business deals are slated to finalize in coming weeks and months. Crypto Tidbits VanEck Bitcoin ETF…

Cboe Exchange Withdraws VanEck-SolidX Bitcoin ETF Proposal with the SEC

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According to an official document published by the U.S. Securities and Exchange Commission (SEC) on January 23, 2019, the Cboe BZX Exchange has withdrawn its proposed rule change which could have resulted in the listing of the VanEck SolidX Bitcoin Trust on the exchange. Bitcoin ETF Continues to Remain a Distant Dream Bitcoin exchange-traded fund (ETF) has long been termed as a game-changer for the industry which could catapult digital currencies’ towards mainstream adoption. Unfortunately, chances for a Bitcoin ETF took a major dive on January 23, 2019, as the…

Italian Government Introduces Blockchain Terms in Regulation for First Time

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The Italian Senate committee has approved an amendment on blockchain industry regulation, Cointelegraph Italia reports on Jan. 24. The amendment, known as the “Decreto semplificazioni,” has been approved by the Senate committees of Constitutional Affairs and Public Works yesterday, Jan. 23, and reportedly represents the first regulatory move in the blockchain space by the Italian government. The amendment provides basic industry terms such as distributed ledger technology (DLT)-based technologies and smart contract definitions, according to the publicly available document on the Senate’s website. The document also states that a blockchain-powered…

Why a Global Recession Would Be Good for Bitcoin

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Macro trends suggest that a global economic crisis could be looming. Worries about a global recession have been fed by the newly published GDP report showing that China grew at its slowest rate last year since 1990. If a global recession were to happen in the future, many believe that cryptocurrencies, bitcoin primarily, would benefit. Also Read: Davos 2019: Leaders Share Mixed Cryptocurrency Predictions IMF Sees Serious Slowdown There are a number of indicators pointing to a potential economic downturn. In its World Economic Outlook, the International Monetary Fund (IMF) warned a no-deal Brexit…

VanEck-SolidX Bitcoin ETF Application Removed by Cboe

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Cboe Global Markets, the owner of Chicago Board Options Exchange, withdrew its application for a bitcoin exchange traded fund, or ETF with the U.S. Securities and Exchange Commission. The move reportedly is due to the ongoing U.S. government shutdown. In a statement, the SEC noted that Cboe BZX Exchange, Inc. withdrew the proposed rule change to list and trade shares of SolidX Bitcoin shares issued by the VanEck SolidX Bitcoin Trust. It was in June last year that asset manager VanEck Associates Corp. and crypto start-up SolidX Management LLC filed…

Why CBOE’s Withdrawal of the Bitcoin (BTC) ETF Did Not Shock the Crypto Markets as Expected

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When news hit the crypto-verse that the CBOE exchange had withdrawn its application for a rule change at the SEC to consider a Bitcoin ETF, many traders had held their breath expecting the value of BTC to fall a few hundred points and even possibly retest $3,200. The news only resulted in BTC dropping from $3,600 to around $3,567: a decline of 0.91%. The King of Crypto is currently trading at $3,600 indicating that the news had little effect on BTC. Looking at the total market capitalization, we find that…

Georgia Still Believes in Bitcoin Despite Cryptocurrency Markets Slump

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At a time when the price of bitcoin and other cryptoassets are being heavily pummeled by the bears, with several businesses closing shop completely, Georgia still believes in cryptos and is doing everything within its powers to become a blockchain technology hub, reported the New York Times on January 22, 2019. Georgia’s Doors Wide Open to Cryptocurrency Miners Georgia, a tiny nation of less than 4 million people located in Eurasia is becoming a blockchain/cryptocurrency mining hotspot. Per sources close to the matter, Bitfury, a U.S.-based blockchain technology firm founded…

International Monetary Fund Says Growth of Blockchain in Malta Poses Significant Risks

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A mission from the International Monetary Fund (IMF) has judged that the growth of blockchain in Malta has created significant risks of money laundering and terrorism financing in the island’s economy. The news was reported in local English-language daily the Times of Malta on Jan. 24. According to the article, the IMF announced its findings following a visit to the island, and isolated blockchain — alongside financial and remote gaming sectors and the government’s citizenship-by-investment scheme — as being high in their list of concerns regarding possible anti-money-laundering (AML) compliance…

MIT Researchers Design Cryptocurrency 99% Less Data-Intensive Than Bitcoin

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Researchers at the Massachusetts Institute of Technology (MIT) have reportedly developed a cryptocurrency that needs transaction-verifying nodes to store 99 percent less data when compared to Bitcoin (BTC). The development was reported on Jan. 23 in a post on the MITNews Blog. The cryptocurrency in question is dubbed Vault and will be presented at the Network and Distributed System Security Symposium (NDSS) next month. According to the aforementioned post, the cryptocurrency “lets users join the network by downloading only a fraction of the total transaction data.” Vault also reportedly deletes…