Day: April 26, 2019

Digital Asset Trading Firm GSR Launches Bitcoin Variance Swap

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Algorithmic digital asset trading company GSR announced the launch of a new cryptocurrency derivative, called a Bitcoin Variance Swap, which allows investors to hedge their cryptoasset portfolio against the volatility of bitcoin. Hedging Bitcoin Volatility Using Bitcoin Variance Swaps Hong Kong-based GSR announced in a press release that they now offer a new structured product, called a Bitcoin Variance Swap, which enables traders and investors to hedge bitcoin volatility. A variance swap is a financial derivative contract on annualized variance (a measure of volatility) that enables one of the two…

Tokyo Bitcoin Trustee Gains Court Extension for Mt Gox Crypto Rehabilitation

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By CCN.com: The Mt. Gox trustee, who is in charge of distributing what remains of Mt. Gox’s assets to claimants, also known as “creditors,” put in for an extension on the filing deadline, which would have been today. The deadline has been extended about six months, to October 28th. Get your claims in by October 2019 The trustee posted a note to the Mt. Gox website yesterday stating that there are too many claims in various stages of dispute for a final decision to be reasonably reached based on current…

SeedInvest Gains FINRA Approval as Alternative Trading System a Month After Circle Buyout

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SeedInvest, the equity crowdfunding platform owned by crypto-friendly payment giant Circle, has gained approval to offer secondary shares trading, crypto industry news outlet The Block reported on April 26. The platform, which Circle bought out for an undisclosed sum in March this year, can now allow its users to trade startup shares via its accreditation as an Alternative Trading System. The company got the go-ahead from the United States Financial Industry Regulatory Authority (FINRA), a month after gaining initial regulatory approval. At the time, Circle praised SeedInvest for its input…

Institutions are Paying Attention to Bitcoin, Sentiment is Changing

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Anthony “Pomp” Pompliano is back at it again with his relentless attempts to convince institutions, high net-worth individuals, and the public at large to delve into cryptocurrencies, especially Bitcoin (BTC). As many on Crypto Twitter would say, Pomp it! Wealthy Families Listen In On Bitcoin Presentation  Thursday did see the cryptocurrency market hit by news that a “black swan” event is on the horizon, which some fear could crash BTC by thousands of dollars, but push to financialize this sector hasn’t slowed. Related Reading: Bitcoin (BTC) May Have Bottomed, But…

Crypto Divided Over Tether, Some “Unequivocally” Bullish On Bitcoin

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What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin, minted $300 million worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. It was claimed that prominent Bitcoin (BTC) exchange Bitfinex was unable to keep up with customer withdrawals in late-2018, leading to the exchange dipping into Tether’s pockets. Related Reading: Hacked Bitcoin Moves: 300 of Bitfinex Users’ BTC Moves for the First Time Some have seen this news as decidedly bearish for…

Crypto Divided Over Tether, Some “Unequivocally” Bullish On Bitcoin

boss

What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin, minted $300 million worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. It was claimed that prominent Bitcoin (BTC) exchange Bitfinex was unable to keep up with customer withdrawals in late-2018, leading to the exchange dipping into Tether’s pockets. Related Reading: Hacked Bitcoin Moves: 300 of Bitfinex Users’ BTC Moves for the First Time Some have seen this news as decidedly bearish for…

Binance CFO Rips Facebook’s Blockchain Under Megalomaniac Zuck

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By CCN.com: Facebook CEO Mark Zuckerberg is a megalomaniac who’s launching blockchain and cryptocurrency projects in order to squeeze crypto companies out of the dominance he eventually wants to assert over the space. That’s the opinion of Binance CFO Wei Zhou. Misguided bitcoin evangelists have been heaping praise on Facebook for experimenting with blockchain and for saying it might launch its own digital currency. They believe that having a massive multinational conglomerate like Facebook test out use cases for blockchain is lending legitimacy to the nascent industry. However, Zhou —…

Binance CFO Rips Facebook’s Blockchain Under Megalomaniac Zuck

boss

By CCN.com: Facebook CEO Mark Zuckerberg is a megalomaniac who’s launching blockchain and cryptocurrency projects in order to squeeze crypto companies out of the dominance he eventually wants to assert over the space. That’s the opinion of Binance CFO Wei Zhou. Misguided bitcoin evangelists have been heaping praise on Facebook for experimenting with blockchain and for saying it might launch its own digital currency. They believe that having a massive multinational conglomerate like Facebook test out use cases for blockchain is lending legitimacy to the nascent industry. However, Zhou —…

Tobacco Giant Philip Morris Estimates It Could Save Up to $20 Million by Using Blockchain

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International tobacco company Philip Morris is considering blockchain use in tracking tax stamps on cigarette boxes, the firm’s spokesperson confirmed to Cointelegraph on April 26. Philip Morris International is looking to implement emerging technologies such as blockchain in order to improve the efficiency, transparency and cost effectiveness of its business, the company’s representative said in an email to Cointelegraph. Specifically, Nitin Manoharan, Philip Morris’ global head of architecture and tech innovation, has recently estimated that Philip Morris alone could save up to $20 million by reducing tax stamp paperwork and…

Bitfinex Withdraws $89 Million From Cold Wallet as Users Signal Exodus Over Legal Debacle

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Cryptocurrency exchange Bitfinex has withdrawn funds worth almost $90 million from its cold wallet, blockchain data reported by cryptocurrency news outlet The Block confirmed on April 26. Bitfinex, which has the same owner as USD stablecoin Tether (USDT), has not publicly explained the reason for the withdrawals, which come as both companies face a fresh debacle over potentially missing funds. Over roughly the past 12 hours, Bitfinex has moved large amounts of bitcoin (BTC) and ether (ETH) from its wallets to unknown addresses, along with smaller amounts of other coins…