Day: January 10, 2020

MARKETS DAILY: Basketball’s First Celebrity Token Shoots for Monday Launch

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After years of discussion, Monday may mark the first time accredited investors can buy tokenized shares of a high-profile professional athlete’s contract. Markets Daily is back with the latest on the NBA’s Spencer Dinwiddie story and what it could mean for entertainers of all stripes. No time to listen? Scroll down for the complete episode transcript. More ways to Listen or Subscribe: This episode featured a sound effect provided by soundsilk.com. Adam B. Levine: On today’s episode, our news roundup, the first tokenized pro basketball player, and Fidelity’s 2019 bitcoin reflections.…

This Metric Suggests Bitcoin Has Bottomed Out

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Bitcoin likely carved out a major price bottom in December, according to a non-price metric, which has proved to be a reliable price indicator in the past.  The leading cryptocurrency is currently trading above $7,700, having hit eight-month lows below $6,500 in mid-December. While the bounce is encouraging, the cryptocurrency remains trapped in a six-month-long bearish channel. Thus, the technical bias is still bearish.  However, bitcoin’s difficulty adjustment – a measure of how difficult it is to find blocks on the blockchain – indicates the bear market, which began at…

LedgerX Board Member Says Company in Disarray After Founders’ Ouster

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A LedgerX director and investor has withdrawn his funds and alleged the company may be failing its investors in a dramatic letter obtained by CoinDesk. Nicholas Owen Gunden wrote in a letter addressed to the LedgerX Holdings board, LedgerX LLC board, LedgerX shareholders, and the Office of the Inspector General at the Commodity Futures Trading Commission (CFTC) that he was concerned about how the bitcoin derivatives provider was operating since the company’s founders were placed on administrative leave last month. “I am concerned with recent developments at the company, particularly…

LedgerX Board Member Says Company in Disarray After Founders’ Ouster

boss

A LedgerX director and investor has withdrawn his funds and alleged the company may be failing its investors in a dramatic letter obtained by CoinDesk. Nicholas Owen Gunden wrote in a letter addressed to the LedgerX Holdings board, LedgerX LLC board, LedgerX shareholders, and the Office of the Inspector General at the Commodity Futures Trading Commission (CFTC) that he was concerned about how the bitcoin derivatives provider was operating since the company’s founders were placed on administrative leave last month. “I am concerned with recent developments at the company, particularly…

Student Wins Satoshi Nakamoto Scholarship to Build Media-Focused Platform

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Bitcoin SV (BSV)-promoting Bitcoin Association has awarded a PhD student at Cambridge University with its Satoshi Nakamoto Scholarship, designed to support the development of blockchain applications. Per a Jan. 9 press release, Robin Kohze, a second-year human genomics PhD student at Cambridge University, became the first to receive the scholarship following a series of blockchain competitions within the Bitcoin SV Hackathon last fall. With his project dubbed, Hive, Kohze took second place. The scholarship is set to allow further development of Hive into a fully operational platform. Challenging the media…

NBA Player’s Contract Tokenization Plan Can Move Forward: Reports

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Brooklyn Nets guard Spencer Dinwiddie will be able to tokenize his contract after all. First reported by The Athletic, Dinwiddie will issue shares tied to his contract beginning Jan. 13, months after the NBA pushed back on his plan to create a tokenization platform for entertainers to essentially issue debt instruments based on their future earnings. Dinwiddie announced last year that he would tokenize his three-year, $34.5 million contract, looking to raise $13.5 million for the first year. Essentially, he’d raise his contract’s value as an upfront lump sum, with…

NBA Player’s Contract Tokenization Plan Can Move Forward: Reports

boss

Brooklyn Nets guard Spencer Dinwiddie will be able to tokenize his contract after all. First reported by The Athletic, Dinwiddie will issue shares tied to his contract beginning Jan. 13, months after the NBA pushed back on his plan to create a tokenization platform for entertainers to essentially issue debt instruments based on their future earnings. Dinwiddie announced last year that he would tokenize his three-year, $34.5 million contract, looking to raise $13.5 million for the first year. Essentially, he’d raise his contract’s value as an upfront lump sum, with…

Bitcoin SV (BSV) Explodes 29% on “Tulip Trust” Fears Ease

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The price of Bitcoin SV (BSV) surged by a massive 28 percent on Friday as traders assessed a key development in the ongoing legal dispute involving founder Craig Wright. The self-proclaimed Bitcoin creator submitted a total of 428 documents to the plaintiffs, one of them allegedly including details of a trust that holds billions of dollars worth of bitcoin. Mr. Wright’s legal counselors marked the paper “Tulip Trust III” as confidential. The decision raised suspicions that their client – indeed – was involved in the mining of first batch of…

Cobinhood Announces Shutdown, Claims It Will Audit User Accounts

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Troubled crypto exchange Cobinhood has announced it is shutting down – but just temporarily, it seems. In a “shutdown notice” on its website on Friday, the firm stated: COBINHOOD Exchange is shutting down and auditing all accounts’ balances from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. Please DO NOT make any deposits; it may result in permanent loss. The message is somewhat unclear if the platform will be reopened for trading or just…

China’s Central Bank Completes Top-Later Design and Joint Tests of Planned CBDC

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The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency (CBDC). As domestic news outlet Sina reported on Jan. 10, People’s Bank of China (PBoC) accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research and development and a joint testing of the CBDC. The bank set forth the latest developments in a dedicated article, also highlighting plans to improve cybersecurity of the financial industry network and formulate rules for the accreditation of critical information…