Day: February 15, 2019

SEC Starts Review of NYSE Arca’s Bitcoin ETF Rule Change Proposal

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The United States Securities and Exchange Commission (SEC) started reviewing a rule change proposal for NYSE Arca’s Bitcoin (BTC) exchange-traded fund (ETF) on Feb. 11, according to an official document published today, Feb. 15. According to the notice, the NYSE Arca exchange filed a rule change proposal to list and trade shares of the Bitwise Bitcoin ETF Trust under its NYSE Arca Rule 8.201-E on Jan. 28. The SEC is now expected to provide an initial decision to approve or reject the proposal within 45 days starting from the day…

Bitcoin In Consolidation Zone | CCG

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Bitcoin could not sustain the momentum it enjoyed when it shot up by nearly 10 percent on a single day last week. Since peaking at $3626 last Friday, the leading cryptocurrency by market capitalization shied away from the momentum over the week, and is back to another consolidation range below $3,600. The price has been drifting downward, though at a marginal speed, over the course of the week. Image from CryptoProbe.net As of writing, BTC is changing hands at $3,565 on Coinbase, having lost its value by $47, or by…

Hyundai Commercial Partners With IBM to Accelerate Blockchain Development

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Hyundai Commercial — a financial services subsidiary of leading South Korean automobile manufacturer Hyundai — has announced a partnership with American tech giant IBM to modernize its business model using blockchain. The news was announced on Feb. 13 at IBM’s annual tech and business conference “IBM Think 2019” in San Francisco, California. Hyundai Commercial is reportedly “a corporate finance company that provides leasing and financial services for commercial vehicles and construction equipment.” The partnership with IBM will focus on using open source Hyperledger Fabric blockchain technology to create a new…

Government Involvement Key to Crypto’s Success

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Terry Duffy, CEO of leading derivative market CME Group, has said that until governments start to accept cryptocurrencies, it is very difficult for major commercial banks to get involved in the market. Duffy made his comments during an interview with Bloomberg published on Feb. 14. When asked if Bitcoin’s (BTC) price has hit its bottom, Duffy said that he is not sure. The interviewer also brought attention to the JPM Coin, the cryptocurrency soon to be launched by United States banking giant JPMorgan to increase settlement efficiency, as recently reported…

Even During Nuclear Winter, the Largest Crypto Asset Manager Controls Nearly $1 Billion

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Cryptocurrencies have continued to stumble, but one organization has been making promising strides in the back offices of the Bitcoin space. Grayscale Investments, a wholly-owned subsidiary of the crypto conglomerate that is the New York-based Digital Currency Group, revealed that its products secured millions in investment amid the so-called “crypto winter.” Crypto Winter Has Been No Match For Grayscale’s Bitcoin Fund Grayscale, headed by Michael Sonnenshein, recently released its “2018 Digital Asset Investment Report” to outline company performance over the course of yesteryear. And surprisingly, the statistics were arguably not foreboding,…

41% of Institutional Investors to Invest in ICOs Within Five Years

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According to a survey of institutional investors conducted by the Global Blockchain Business Council (GBBC), 19 percent believe that digital assets will be regularly invested in and traded by 2021. The results of the survey were shared with Cointelegraph on Feb. 14. The survey was conducted in December 2018 and January 2019 by market research company PollRight, and included responses from 71 global institutional investors, including private equity, hedge funds and pension funds. According to the survey, the growth of the digital asset industry can increase the initial coin offering…

US FDA Looks to Blockchain Technology to Secure Drug Supply Chain

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About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startupsand has written over 1500 articles on Blockchain technology andstartups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat Ad honorem – Honorary Ph.d –…

Analysis: Here’s Why JP Morgan Is Launching Its Own Centralized Crypto Asset

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Jamie Dimon, the chief executive of JP Morgan Chase, has long been a skeptic of cryptocurrencies, especially Bitcoin. After calling the flagship crypto asset a “fraud,” remarking that it’s much worse than the tulip bulb bubble of yesteryear, Dimon remarked that he doesn’t give a single sh*t about the project. But, in a jaw-dropping turn of events, Dimon’s firm revealed that it would be diving head first into the blockchain space on Thursday. While some yelled hypocrite, as Dimon’s comments remain fresh in crypto enthusiasts’ minds, there may be a…

Analysis: Here’s Why JP Morgan Is Launching Its Own Centralized Crypto Asset

boss

Jamie Dimon, the chief executive of JP Morgan Chase, has long been a skeptic of cryptocurrencies, especially Bitcoin. After calling the flagship crypto asset a “fraud,” remarking that it’s much worse than the tulip bulb bubble of yesteryear, Dimon remarked that he doesn’t give a single sh*t about the project. But, in a jaw-dropping turn of events, Dimon’s firm revealed that it would be diving head first into the blockchain space on Thursday. While some yelled hypocrite, as Dimon’s comments remain fresh in crypto enthusiasts’ minds, there may be a…

What Should We Expect From an Exchange Tailor-Made for Wall Street Investors?

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Last week, the CEO of the Intercontinental Exchange (ICE) said that the firm’s digital asset platform, Bakkt, is expected to launch later in 2019. It is time to look deeper into the project, and see what it can bring to the crypto industry. What is Bakkt exactly? Bakkt (pronounced “backed,” referring to “asset-backed securities”) is a digital assets platform created by ICE, the Atlanta-based operator of 23 major international exchanges, including the New York Stock Exchange (NYSE), which is by far the world’s largest exchange, trading nearly 1.5 billion shares…