Day: January 24, 2019

Despite Previous Criticism, JPMorgan CEO Jamie Dimon Doesn’t Celebrate Bitcoin’s Decline

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JPMorgan CEO Jamie Dimon has reiterated his negative stance on Bitcoin (BTC), stressing that he does not really care about the cryptocurrency. Dimon spoke on the subject in an interview with CNBC’s Squawk Box on Jan. 23. When asked if he was pleased with Bitcoin’s collapse in 2018, Dimon stated that he was not, noting that multiple media outlets have over-reported his sceptical comments. The CEO argued that he had not intended to become the spokesperson against the biggest cryptocurrency. During the interview, when asked if Bitcoin is better than…

Singapore’s Monetary Authority Halts Local STO Due to Regulatory Violations

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The Monetary Authority of Singapore (MAS) has prevented a local initial coin offering (ICO) from launching a security token offering (STO) in the country. The development was detailed in an announcement published Thursday, Jan. 24. Under the current rules, all STOs have to comply with Singapore’s securities laws and are obliged to register with the MAS. In case the owners want the offering to fall under an exemption, they should be aware of conditions, including advertising restrictions, the MAS notes. The issuer of the halted, unnamed STO intended to rely…

Binance Follows Major Cryptocurrency Exchanges With Launch of OTC Trading Desk

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Number-one ranked cryptocurrency exchange Binance has announced it had launched its over-the-counter (OTC) trading desks for larger transactions, according to a Jan. 23 blog post. The new tool, simply known as Binance OTC, offers services geared to users performing trades worth at least 20 BTC ($71,000). “Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” officials explained in the post. The move makes Binance the latest major cryptocurrency exchange to launch OTC services, following…

Extreme Bitcoin Bull And Bear Markets Speed Up Adoption

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Truth is, it’s too earlier to call bottoms. Prices might have bounced off $3,000–$3,500 supports and with the calling off of the Bitcoin ETF, odds are prices would dip before they rise. The deeper the correction, the better for Bitcoin–and I’m not talking about traders who wish to play the market for some quick bucks. I’m talking about the holders of last resort. These are early adopters and Bitcoin believers. Individuals who believe that Bitcoin is a better currency and won’t liquidate their holdings until there is full adoption. 0/…

Seed CX Launches Bitcoin Spot Trading Market with ‘Truly Institutional Level Support’

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Photo: Seed / Twitter While some crypto companies are focused on bringing new technologies to the masses, trying to make cryptocurrencies closer to a wide audience, some others target their initiatives and projects at institutional investors, believing that institutions should head the way to mass adoption. There are also a row of startups that work with both types of clients. Seed CX Spot Tradin As it has been revealed, Seed CX, the Chicago-based exchange startup, has taken decision to join the movement and to help institutional investors enter the crypto…

UK Standards Institution Partners With Blockchain Startup for Supply Chain Compliance

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The United Kingdom’s national standards body, the British Standards Institution (BSI), has partnered with blockchain company OriginTrail to increase supply chain transparency. The partnership was reported in a Jan. 24 press release. BSI, which has operated since 1901 and had a reported revenue in 2017 of 473 million GBP (about $616 million), says it wants to use the company’s blockchain-based protocol to enhance the options businesses have to prove their supply chains are compliant with various regulations. The partnership is one of several that OriginTrail has cemented over the past…

Bitcoin Price Defends $3.5K After Cboe Pulls ETF Proposal

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With bitcoin (BTC) showing resilience to negative news flow, a strong bullish move is looking increasingly likely. On Wednesday, the Chicago Board Options Exchange’s (CBOE) BZX equity exchange withdrew its request for a rule change by the U.S. Securities and Exchange Commission (SEC) that would have allowed it to list a bitcoin exchange-traded fund (ETF) backed by VanEck and SolidX. The market narrative with respect to the ETF is that its approval could trigger the next bull run in the leading cryptocurrency by market value. Moreover, in the past, markets…

Bitcoin Bull John Mcafee to Lead 2020 Presidential Campaign While Fleeing IRS Indictment

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Photo: Yiddam Quiriarte / Flickr McAfee, who’s campaigning for the 2020 US Presidency will continue to do so ‘in exile’. Although the IRS have not revealed details of the charges, it is understood they relate to several millions of dollars in unpaid taxes backdated to 2010. McAfee vowed to be on the run for as long as it takes, and issued a rallying cry for support from the cryptocurrency world. He declared: “They want to silence me. I will not allow that . I am running my campaign from this…

OKCoin Founder Buys Controlling Share in Hong Kong-Listed Firm in $60+ Mln Deal

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Star Xu, founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has bought a controlling share in a Hong Kong Stock Exchange-listed firm for  around $60 million. The deal was disclosed by the acquired firm, LEAP Holdings Group, on Jan. 23. Following the deal’s completion on Jan. 14., OKCoin’s parent firm OKC Holdings Corp. became the controlling shareholder in LEAP Holdings — a Caymans Island-incorporated construction engineering firm, which is listed on the Hong Kong Stock Exchange (HKEX). Having purchased roughly 3.2 billion shares at HK$0.15…

Hong Kong Stock Exchange CEO Casts Doubt on Crypto Miner IPO Filings

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New comments from the chief executive of the Hong Kong Stock Exchange (HKEX) may have dampened the hopes of several cryptocurrency mining giants that have filed for initial public offerings (IPOs). According to a report from Tencent’s news portal Finance.QQ on Thursday, HKEX CEO Charles Li Xiaojia said that companies seeking to list on the stock exchange must have a “sustainable” business model. While Li did not specifically talk about specific company applications, he answered in general about HKEX listing requirements in a response to a question on the crypto…