Bitcoin is up more than 8 percent in the last 24 hours. BSV, meanwhile, is up nearly a whopping 100 percent. The question is, of course, why? Is it some larger macro context? A pump-and-dump? Or just the crypto markets being as crazy as they are. The Breakdown invited guest Mati Greenspan, former eToro analyst and now founder of Quantum Economics, to give his take. We also look at two stories around the growing crypto derivatives markets: the launch of the CME’s options on bitcoin futures and CFTC Chair Heath…
Month: January 2020
Mati Greenspan on the Technical and Macro Roots of Bitcoin’s Price Surge
Bitcoin is up more than 8 percent in the last 24 hours. BSV, meanwhile, is up nearly a whopping 100 percent. The question is, of course, why? Is it some larger macro context? A pump-and-dump? Or just the crypto markets being as crazy as they are. The Breakdown invited guest Mati Greenspan, former eToro analyst and now founder of Quantum Economics, to give his take. We also look at two stories around the growing crypto derivatives markets: the launch of the CME’s options on bitcoin futures and CFTC Chair Heath…
Bitcoin and ETH Are Commodities, While XRP’s Status Is Unclear, CFTC Says
Bitcoin (BTC) and Ether (ETH) are commodities, while the status of XRP is still unclear, the chairman of the Commodity Futures Trading Commission (CFTC) said. CFTC Chairman Heath Tarbert has reiterated the regulator’s stance on both Bitcoin and Ether in an interview with online news outlet Cheddar on Jan. 13. Tarbert said: “So right now, Bitcoin and Ether are the two that we think fall under our jurisdiction.” In the United States, the CFTC is responsible for regulating commodities, while securities fall under the Securities Exchange Commission. At the same…
Blockvest’s Defense Based on Falsified Documents, Claims SEC
The United States Securities and Exchange Commission have argued in a Jan. 10 filing that Blockvest founder Reginald Buddy Ringgold III falsified and, in one case, forged signatures in documents critical to the case. The commission had previously charged Blockvest with falsely declaring that its initial coin offering (ICO) was registered with the regulator. A pre-ICO? In Oct. 2018, the SEC halted Blockvest’s ICO in an emergency court order. The project had nevertheless already collected more than $2.5 million in a pre-ICO sale of its BLV token. Though the Southern…
More Than Half of Financial Advisors Want Better Regulation Before Investing in Crypto
More than half of financial advisors in the U.S. are too spooked by regulatory uncertainty to initiate or expand their cryptocurrency investments, a new study by Bitwise Asset Management found. The annual survey, released Tuesday, asked 415 advisors a range of questions on their crypto sentiments, including where they think the market is going, how their clients approach crypto, and what it would take for them to invest more in the space. Bitwise found that advisors are increasingly bullish on bitcoin’s future but hesitant to invest in it – for…
The Race to Lead 3 Class-Action Suits Against Bitfinex Over 2017 BTC Bull Run Is On
One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per a Jan. 13 filing with the court of the Southern District of New York (SDNY), the counsel for Eric Young, Adam Kurtz and David Crystal are asking to be deemed “Interim Lead Counsel” for a number of parties filing similar class-action suits. Young et al are represented by law firms Radice and Kirby McInerney. Meaning of the new classification for…
The Race to Lead 3 Class-Action Suits Against IFinex Over 2017 BTC Bull Run Is On
One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per a Jan. 13 filing with the court of the Southern District of New York (SDNY), the counsel for Eric Young, Adam Kurtz and David Crystal are asking to be deemed “Interim Lead Counsel” for a number of parties filing similar class-action suits. Young et al are represented by law firms Radice and Kirby McInerney. Meaning of the new classification for…
Fidelity’s Crypto Team Just Forayed Into Europe, and It’s Bullish for Bitcoin
Fidelity Digital Assets (FDAS), the Bitcoin-centric arm of investment firm Fidelity, has entered a partnership with a London-based crypto asset manager in bullish move to expose Bitcoin to institutional investors in Europe. Fidelity’s Europe Push FDAS will act as a custodian for Bitcoin held by Nickel Digital Asset management, the two companies announced. The partnership is designed to help address the lack of back-office services such as custody of cryptocurrencies among major financial providers in a bid to bring the coins more into the mainstream. Launched in 2018, FDAS offers…
Fidelity’s Crypto Team Just Forayed Into Europe, and It’s Bullish for Bitcoin
Fidelity Digital Assets (FDAS), the Bitcoin-centric arm of investment firm Fidelity, has entered a partnership with a London-based crypto asset manager in bullish move to expose Bitcoin to institutional investors in Europe. Fidelity’s Europe Push FDAS will act as a custodian for Bitcoin held by Nickel Digital Asset management, the two companies announced. The partnership is designed to help address the lack of back-office services such as custody of cryptocurrencies among major financial providers in a bid to bring the coins more into the mainstream. Launched in 2018, FDAS offers…
MARKETS DAILY: Crypto News Roundup for Jan. 14, 2020
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