cryptoshorts
Manually summarised cryptocurrency news from top global sources.
Manually summarised cryptocurrency news from top global sources.
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Bakkt announced its 1st physically settled Bitcoin futures contracts. "Buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account," tweeted Bakkt. The wall street firm came into being through a partnership between the Intercontinental Exchange (ICE), Microsoft, Starbucks, BCG, and others to enable trade and spending of digital currencies more efficiently and securely.
Source: Twitter
25 September, 2018
Morgan Creek Capital Management claims in its 2nd quarterly market outlook that digital currencies which will replace fiat currency eventually. It has launched a Digital Asset Index Fund for institutional investors who want to invest in the 10 largest cryptos. It suggests that Bitcoin will reach $22,000 by the end of 2018, $100k over the next 3 years and attain a market cap of $8.4 trillion within a decade.
Source: blokt
25 September, 2018
Bitcoin and other cryptocurrencies are reshaping economy in Africa. In East Africa, a deal between exchange Bitpesa and Japanese firm is letting Kenyans use bitcoin to pay for used Japanese cars, cosmetics, and electrical gadgets. In Nigeria, Sure Remit is helping make cash transfers cheaper and in Zimbabwe, TV subscriptions, university fees, and second-hand car imports.
25 September, 2018
Financial Services Authority (FSA) has issued a 3rd business improvement order and is seeking answers from Japan's Zaif cryptocurrency exchange, that was hacked earlier this month and reported a theft of $60 million worth of cryptocurrencies. The exchange has revised its theft estimate-42,327 BCH were stolen in addition to 5,966 BTC and has signed agreements with 2 companies to repay customers and improve its security.
25 September, 2018
Over 75 multinational banks have joined JPMorgan's payment platform for a combined effort to fight off competition from outside of the banking sector. Through transparency of reliable information, banks can compete with the emerging private sector processing cross-border payments faster than they traditionally can. JpMorgan's CIO, Lori Beer predicted that blockchain would “replace existing technology” within a matter of “a few years.”
25 September, 2018
Research firm, Diar reports that Internal Revenue Service (IRS) has spent 38% ($2.2 million of $5.7 million) of U.S. government spendings on hiring contractors to perform blockchain analysis or link individual’s identity with their cryptocurrency funds. Next, in line, Immigration and Customs Enforcement (ICE) spent $1.5 million and FBI spent over $1.1 million.
Source: CCN
25 September, 2018
Infamous Mt. Gox, announced the ‘Measures to Secure Interests of Bankruptcy Creditors’ as a part of the civil rehabilitation proceedings, underlining the measures taken by the trustee, Nobuaki Kobayashi. On 7th March 2018, Kobayashi sold 24,658.00762 Bitcoin (worth $158 million) and 25,331.00761 Bitcoin Cash ($10 million) post the approval from the Tokyo District Court and the examiner.
Source: AMBcrypto
25 September, 2018
Coinbase has partnered with Hong Kong-based Caspian, the first institutional grade full-stack crypto trading and risk management platform. Caspian will integrate with Coinbase Prime to bring new sophisticated trading and portfolio management functionality to Coinbase’s customers, with room for future integrations. Caspian aims to "connect institutional investors and active traders with multiple trading platforms from a single interface.”
25 September, 2018
A 39-page report by Hass McCook, a civil engineer, and a Bitcoin researcher compared Bitcoin and Gold Mining’s environmental impacts – and the results were ugly for Gold. He asserted that only Bitcoin would survive at the end of this century. He also said, "the energy consumption issue will never be solved, nor do we want it to be, as Proof of Work and the monetization of Energy is fundamental to Bitcoin."
Source: CCN
25 September, 2018
Bank of International Settlements (BIS)'s new research co-authored by Raphael Auer, and Stijn Claessens has concluded that Ripple controls XRP's network of trusted nodes. The study took into consideration seven leading cryptocurrencies and analyzed their price sensitivity to various regulatory newsflows. XRP token reacted less, which reflects that "its network of trusted nodes is centrally controlled by its issuer Ripple."
Source: Coingape
25 September, 2018
Stephen Guilfoyle (Sarge986 LLC), Jim Rickards (The Death Of Money’s author), and economists David Williams and Douglas Borthwick talked about “the gold market and its correlation with cryptocurrencies.” Borthwick said Satoshi Nakamoto didn’t understand “macroeconomics” and that Bitcoin is a "bubble." He also expressed his support for XRP that he believes would be traded against dollar, pounds, and euros in the foreign exchange market in 5 years.
Source: zycrypto
25 September, 2018
ChainWood, funded by the Ministry of Agriculture, Fisheries, and Food, the Directorate General for Development Rural and Forest Policy, and the General State Administration, with a total subsidy of 93,350 euros wants to use the blockchain technology to develop the forestry industry. It aims to improve the traceability and efficiency of the wood supply in Spain by implementing blockchain technology in industry logistics.
25 September, 2018
Monetary Authority of Singapore (MAS) spoke at the Singapore Consensus 2018 with regards to the future of cryptocurrencies in their country. MAS clearly distinguishes between utility tokens, payment tokens, and security tokens and don't plan to “regulate technology itself but [its] purpose.” While payment tokens and security tokens require legal attention, utility tokens don't need as much control.
24 September, 2018
Smart Dubai and its government arm Smart Dubai Government Establishment (SDG) are driving the city’s success and global competitiveness via smart technology and are currently working on a total of 20 use cases for blockchain technology. In a recent development, the online payment portal DubaiPay will now use blockchain technology for real-time reconciliation and settlement of transactions.
24 September, 2018
Congressman Tom Emmer is planning to introduce three bills to support blockchain technology and cryptocurrencies, titled, “Resolution Supporting Digital Currencies and Blockchain Technology,” “Blockchain Regulatory Certainty Act,” and the “Safe Harbor for Taxpayers with Forked Assets Act.” Recently, US lawmakers pushed IRS to clarify crypto regulations and improve blockchain adoption in the US.
24 September, 2018