Today, Distributed Ledger, Inc. (DLI), a blockchain technology service provider, announced the brand and business acquisition of North American-based cryptocurrency mining hardware supplier, Crypto Mining Tools (CMT). Cryptomining.tools is a well-known industry leader in cryptocurrency mining hardware brokerage and the creator of many trusted free online tools for miners.
These tools include a hosting provider directory, a bitcoin mining profitability calculator, an in-depth ASIC mining hardware comparison chart, educational YouTube videos, and the Crypto Mining Tools Podcast. With this acquisition, DLI is excited to welcome CMT’s founder, Scott Offord, as the company’s Director of Asset Management. Scott will leverage this new role to continue the outstanding work and relationships he has built with Crypto Mining Tools.
Re-branding of Crypto Mining Tools
Re-launch of the Crypto Mining Tools Podcast
A new look and message behind DLI’s Fracking Miner
The Global Palladium Fund, established by PJSC MMC Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA, setting the stage for the new era of digital transactions, which will optimize supply chain efficiency and transparency.
The Global Palladium Fund has issued the digital instruments via the global tokenization platform Atomyze, backed by a pool of international investors.
The first two clients, the world’s leading commodity actors and Nornickel’s longstanding partners – Traxys and Umicore – arrived after the mining giant announced its strategy to integrate into a digital ecosystem designed to give ultimate provenance and traceability to its metals.
Anton Berlin, Nornickel’s Vice President, Sales and Distribution, commented: “Nornickel is developing and setting new standards by digitalizing market transactions. The tokens issued by the Global Palladium Fund on the Atomyze platform will allow it to deliver Nornickel’s products to customers in a more efficient and transparent way. We are confident that it will provide the industry with the necessary tools to guarantee responsible sourcing.”
Alan Docter, Traxys Chairman commented: “The Atomyze tokenization platform has the potential to revolutionize the industrial commodity market. We are excited about this opportunity to be one of the first to use the tokenization platform, and believe that this new ecosystem can make our daily operations more flexible, sustainable and profitable.”
Bernhard Fuchs, Senior Vice President, Precious Metals Management and Umicore Marketing Services, added: “We recognize the value that the Atomyze platform is delivering: efficiency, cost optimization and flexibility that tokenization brings along – it’s a leap forward towards new levels of business efficiency as well as multi-layer-documentation, and we are looking forward to set off on this innovative path.”
Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel – via the Atomyze tokenization platform operated by Tokentrust AG.
Palladium is a precious metal, the silvery-white, malleable kind of the platinum group of elements. It has the atomic symbol Pd and is the most abundant element of the elementium group. It was first discovered by the English scientist, William Hyde Wollaston, from an examination of minerals gathered on the Indian Ocean Island of Mauritius. Palladium was first used as a metal in the 1820s, mainly to conduct the electrical currents that were then fashionable.
Outsized returns on emerging cryptocurrencies fueled the year’s top-performing U.S. exchange-traded funds as the coronavirus pandemic upended global markets. Overall, those who played blockchain assets were rewarded handsomely. The year’s best fund, Grayscale Ethereum Trust, which holds Ethereum, the world’s second-largest cryptocurrency after Bitcoin, soared 333.7% for the year through Dec. 9.
Voyager Digital Ltd., a Canadian publicly traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade and invest in crypto assets, just recently announced milestone growth, surpassing $200 million in assets under management (AUM), up 100% from $100 million at the beginning of November, and up 40x in the past 12 months.
This accelerated growth in AUM is led by unprecedented levels of net daily deposits, as the crypto bull market powers forward. With over $50 million in total net daily deposits since the beginning of November, the firm averaged nearly $1 million of net daily deposits for this same period.
“Voyager is firing on all cylinders as we enter 2021,” said Steve Ehrlich, Co-founder and CEO of Voyager. “The rapid pace of increase in net daily deposits is a testament to the success of our platform and the support from our community. AUM is a key metric for the performance of our business, and we are excited that users have placed their trust in our platform which allows us to generate greater returns and thereby reinvest to bring new products to market faster, including our desktop platform, debit and credit cards, and margin offerings.”
2020 has been a milestone year for the crypto-asset space with many well-known institutions either diversifying into Bitcoin or providing greater access to digital assets. The Company believes this continued momentum confirms that digital assets are a legitimate, standalone and investable asset class that is here to stay, providing investors with the ability to combat inflationary pressures from continued debasement of traditional fiat currencies. This evidence suggests that digital assets are starting to rival more established asset classes such as equities, fixed income, commodities and precious metals, in particular the $9 trillion traditional gold market.
“We’ve positioned Voyager with a leverageable technology platform ripe for expansion both internationally and product wise, with Canadian and European expansion planned in 2021,” continued Mr. Ehrlich. “We look forward to bringing Voyager’s regulatorily compliant and transparent platform to the masses in 2021.”
Cryptocurrency funds are a new breed of investment vehicle which parallels more traditional portfolio investments, such as mutual funds, but are largely made up of digital commodities. As a result, they operate by somewhat different rules than their traditional progenitor counterparts.
The events of 2020 have created a more compelling use case than ever for digital identities. Now that a COVID-19 vaccine is beginning to be rolled out, it seems almost inevitable that a health passport, proving that we aren’t a viral threat to others, will be featured in our futures.
Australian air carrier Qantas has been at the front of the pack of companies stating they’ll require an immunity certificate for a flight booking.
In the past month, seven major airlines including Lufthansa, Virgin Atlantic, JetBlue and United Airlines have signed onto the World Economic Forum’s CommonPass programme which calls for global digital proof of vaccination tied to ID documents ahead of travel.
With the roll out of a COVID-19 vaccine, the end of the pandemic’s stronghold seems to finally be in sight. However, this doesn’t mean that the next 12 months will instantly return to life before lockdown. Inevitably, technology will play a vital role in guiding our re-entry into an altered world.
The virus itself will of course still be in play next year. As such, most global futureproofing strategies revolve more around mitigation and living in our new normal, than eliminating the virus altogether. This has manifested in the concept of a global COVID-19 passport which would confirm our immunity and allow us to move, work, communicate, consume, exercise and interact more freely in the new normal. And now, after much discussion it seems the idea is nearing practical fruition.
The result of such a biometric digital identity is an ecosystem of universal trust and confidence. Businesses, venues, events and vendors can proceed in the knowledge that they are preventing guests from infection spikes while allowing them to rebuild their business and grow revenues. Meanwhile, the general population can look to re-enter society with reliable proof of their individual health and assurance of their digital security.
In particular, blockchain platforms such as the enterprise-focused Concordium use a cryptographic technique known as zero-knowledge proofs to help ensure that digital identities are self-sovereign. This feature allows people to retain control of their data in almost all everyday scenarios requiring an ID.
A universal passport that can be used globally allows its holder to pass through borders that they may not have otherwise known existed. It allows people from across the world to combine their knowledge and skills in various fields, including business, academics, government and travel. However, one of its biggest selling points is that it allows people to change their data at will. This means that anyone can design a unique and customized Universal Passport for themselves, ensuring they can use it for whatever purpose they see fit.
The Universal Passport was created by Nervos, a London-based developer organisation that specializes in creating secure and anonymous digital public services. According to its founders, the Universal Passport was born out of a need for a better international identification system, designed to help people identify themselves easily throughout the world. The developers behind the project believe that the best way to get this is to build a new infrastructure that is capable of managing multiple national identities within a multi-national context. Their design combines two distinct components: a blockchain and a database. The idea is that blockchain is an internet protocol that determines how the data stored within the database is communicated to the rest of the organisation. Meanwhile, the database is made up of secure information that is stored locally, allowing for easy access from any internet connection.
However, the two-pronged approach goes beyond the borders of Nervos. The developers believe that there are many other areas that the Universal Passport could potentially fill. In fact, in its current form, it’s already starting to challenge existing standards like the biometric data exchange protocol (BIPS), which is currently the only way for a smart card to provide a photo id. The biggest challenges to Nervos and the universal passport therefore revolve around its current lack of biometric functionality and its reliance on the existing ESSS technology. Owing to its reliance on established and well-understood technologies, any potential for new applications and improvements will have to be through the same existing source.
As the world responds to the COVID-19 pandemic, it is clear that the blockchain will be used for other purposes than solely cryptocurrency.
OIN Finance, a decentralized finance gateway, has partnered with Frontier to bring the FRONT token to OINDAO, being the second token to do so. The integration will allow FRONT to be staked into the OINDAO and used to mint stablecoins alongside OIN and STPT for DeFi applications.
Bringing Frontier’s native token to OIN Finance means it can be used as collateral on the OINDAO platform. Users who stake FRONT tokens can use their collateralized assets to issue USDF stablecoins, unlocking and leveraging the value in their original tokens while retaining ownership of them. With the minted USDF1, users will eventually be able to redeem for a variety of other liquid assets like DAI, USDC, USDT, and even NFTs, with the OINDAO dashboard enabling positions to be monitored and adjusted in real-time.
OIN Finance Co-Founder Richie Li said: “Frontier is on a mission to make DeFi easier to interact with, by aggregating popular protocols. We at OIN are on a mission to bring DeFi functionality to the crypto community as a whole. As the number of projects on OINDAO expands, so too will the list of connected defi features. We are excited to see the synergies here develop, and look forward to the growth of both our platforms.”
Frontier also mentioned in their announcement that “OINDAO is the first decentralized stablecoin issuance platform that also caters to the small cap assets. Different from Maker DAO, OINDAO empowers projects like Frontier to issue their own stable assets. Instead of just copying and forking the current model, the OIN Finance team is aiming to bring value and what’s missing in the current DeFi space to make DeFi more mature.”
Future development of the OIN Finance ecosystem will see support for leveraged trading and cross-chain staking. OIN Finance aims to become a universal portal for token swapping, leveraged trading, and minting stablecoins through its product lines such as OINSWAP, and the OIN Bond.
Decentralized finance refers to a technology that attempts to create a more fluid and flexible model of global exchange through the use of cryptocurrencies. It is a type of peer-to-peer lending that renders traditional financial functions such as settlements, equity certificates, debentures, stock market trading, and commercial loans more accessible, convenient, and fast through the implementation of smart contract technology. Unlike conventional finance, decentralized finance makes the exchange of currencies transparent, profitable, and manageable by removing the need for traditional intermediaries. This results in a more democratic control over the supply and demand of money, which can benefit both borrower and lender.
It’s has been a tradition of ours every Christmas day to look at the current price of Bitcoin and compare it to its price on previous Christmases.
Here is Bitcoin’s Christmas day price history: 2010: $0.27 2011: $4 2012: $13 <halvening> 2013: $701 2014: $321 2015: $454 2016: $890 <halvening> 2017: $13,709 2018: $4,028 2019: $7,324 2020: $24,664 <halvening> 2021: see below!
If you pay close attention the the historical price patterns of Bitcoin, you’ll notice some trends that really stand out. First, there is clearly a 4-year cycle at work. At the end of the 4th year Bitcoin reached its first price peak, reaching $701 on Christmas day of 2013.
4 years later, it reached its second peak, attaining $13,709 on Christmas day of 2017.
Notice that each of these peaks were exactly 4 years apart. Notice the the peak came a year after the Bitcoin halvening, when the mining rewards get cut in half.
What Will The Bitcoin Price Be On Christmas Day 2021?
Taking into account another crypto bull run in 2021 – due around next Christmas – we can make some projections based upon the past.
Obviously, with the ole standard disclaimer of past performance doesn’t guarantee future results, these are just projections. Bitcoin doesn’t have to follow the same price patterns that it has been following for the past 8 years.
So, looking purely at the past two cycles and using the prices on previous Christmas days, we can extrapolate where the Bitcoin price will be on December 25, 2021.
On Christmas day of 2012, Bitcoin was worth $13. The following Christmas, it had climbed to $701, a gain of 53.9 times its price the previous year.
On Christmas day of 2016, Bitcoin was worth $890. The following Christmas, it had climbed to $13,709, a gain of 15.4 times its price the previous year.
If Bitcoin continues to follow its 4-year cycle – which we believe it will – then on Christmas day of 2021 the price of Bitcoin will be between 15.4 and 53.9 times its price yesterday. Or, specifically, between $379,825 (15.4 times) and $1,329,389 (53.9 times).
While these numbers might seem outrageous, we are simply using Bitcoin’s trend and continuing it into the future. THIS IS WHAT BITCOIN HAS BEEN DOING SINCE IT WAS CREATED. Why assume that it will suddenly stop doing what it’s been doing since its’ beginning?
Please do consider that there is a monetary crisis developing. Please do remember that central banks are printing fiat like crazy “in response to economic conditions due to Covid-19”. Please do remember what happens to the price of Bitcoin the year after the Bitcoin halvening (see above), and that this year (2020) was the most recent halvening year.
It is not unreasonable to think Bitcoin will be on the high side of this range next year, and not towards the lower end.
AEVOLVE has announces that P2PB2B, one of the world’s fastest growing cryptocurrency exchanges, has listed AEVOLVE’s AVEX medical blockchain token. The AVEX token, which helps individuals take an active role in advancing medical innovations around the world, has delivered a huge punch jumping 150% since its initial listing on the LATOKEN cryptocurrency exchange.
“P2PB2B is delighted to support AEVOLVE and its AVEX token on our exchange. We hope that our cooperation with AEVOLVE would be fruitful and that AVEX listing on our exchange would help propel AVEX to where it belongs,” said the representative of P2PB2B.io exchange.
“AEVOOLVE works globally within a vast network of medical professionals, patients, and investors who help drive innovation that is essential to the creation of new medical solutions,” said Mark Chester, COO of AEVOLVE. “The AVEX token allows members of the crypto community greater exposure into the biotech and pharmaceutical industries and helps medical innovations quickly reach market availability.”
The AVEX Token gives the crypto-community exposure into the multi-billion dollar pharmaceutical and biotech industry as the medium of exchange on a multi-faceted platform, bringing patients, re-search organizations and medical professionals together with the entertainment industry.
Patients and their families will be able to learn of new life-enhancing medical innovations and obtain an exclusive reservation as one of the first people to access these treatments and cures, the moment they become available. One exciting feature about these reservations is that they are digital blockchain assets that can be sold and transferred on a marketplace, providing liquidity at the click of a button.
AEVOLVE has also jumped into the ring with EntroBox to raise awareness through major fundraising events, including an upcoming Mega Boxing event in 2021 staring boxing legends and rising stars. These events will be supported by the world’s leading social influencers and will be the first crypto-enabled pay-per-view platform using the AVEX Token. These events will spotlight the medical innovation needs in the marketplace while simultaneously boosting the access and trading of the AVEX token on participating cryptocurrency exchanges.
This heavily weighted social influencer event will open with various performances and major entertainment from mega influencers, including an impressionably rousing rendition of our national an-them, prior to the main boxing event. ENTROBOX is co-founded by its CEO, Ronald (“The American Dream”) Johnson, the current GBO Heavy Weight Champion. Johnson said, “Our partnership with AEVOLVE brings a new era into mega entertainment events where everyone can be a part of impacting lives with cutting-edge medical breakthroughs, while having an experience of a lifetime. By letting the world access our events with crypto, this will open parts of the world who do not use credit cards to watch and enjoy their favorite boxers, stars and influencers in real time!”
According to AEVOLVE founder, Rogelio Santos, “Our mission is to deliver the world’s most powerful and impactful medical treatments and solutions over the next decade. We will do this by removing the financial obstacles that have hindered important medical technologies from getting to the people that truly need them and by empowering the scientists and medical innovators behind these solutions with an unprecedented voice to rival the marketing machine of the pharma giants.”
How the Conceptualization of Cryptocurrency Can Benefit the Healthcare
A Cryptocurrency Obligation is an article exploring the relationship between Cryptocurrency and Medical Records. The article was co-authored by Edward Czarnet, Associate Professor of Law at the University of Colorado School of Medicine, and Juan Parra, a Senior Director of Ensenada Software, a leader in the development of enterprise systems that leverage the power of distributed computing. The paper was accepted for publication in the Journal of Current Medical Science. This article is presented as a preliminary research abstract. The full journal publication will be accepted for publication in the Journal of Medical Internet Research.
With crypto margin & derivatives trading gaining momentum, Antier’s white label exchanges have arrived at the right time, especially for those aiming for a stimulating start in the crypto finance services. Furthermore, this is a chance to captivate an enormous pool of cryptocurrency holders and no finance entity would want to miss it.
Given vast experience in white label crypto exchange development, Antier has diversified its portfolio offerings to different types of platforms.
Features of the Trading Exchange Platforms
Antier’s Margin trading exchange software provides Auto Deleveraging (ADL) and Partial Close Orders and allows the traders to set floor and ceiling values for an order. Built completely with a user-first approach, the platform will attract more crypto traders, thereby sustaining the value proposition for the finance service providers. While crypto derivatives exchange development was around for a while now, a white label solution to instantaneously enable trading functions is a rare development.
As far as speed and security are concerned, Antier Solutions’ CTO Parvinder Singh said– “Our white label exchange platform offers high transactional throughput backed by multi-layered & institutional-grade security and a powerful trade engine. We have ensured multi-signature withdrawal, multi-level authentication, and high-level encryption. Moreover, the traders can go long or short on a list of the best crypto tokens.”
As one of the earliest entrants into the Blockchain finance industry, Antier Solutions has an impressive customer spread all over the map.
Opportunities in Crypto Exchange with Margin & Derivative Trading
There’s a swaddle of opportunity in crypto finance and trading exchange platforms are at the helm of it. Next to assured returns, crypto Margin & Derivatives trading is an avant-garde solution that elevates the bottom lines for the traders as well as the exchanges. For financial institutions willing to embrace full-stack crypto services in their portfolio, margin & derivatives exchanges are an important addition.
About Antier Solutions
Going forward, Antier Solutions aims to build dApps that adhere to complete decentralization. With their range of crypto banking, trading platform, and other custom-made Blockchain products in the offering, the company foresees an exciting 2021.
“We are assertive about the scope of DeFi compliant derivatives trading and shall soon launch our white label solution. This will be a one of its kind platform that addresses the limitations of centralized trading platforms.” adds Parvinder.
With a rich experience spanning over 100 + full-scale implementations, Antier Solutions has grown into a reputed Blockchain consulting company with an impressive CoE across tokenization, exchange development, dApps development, and crypto market making consulting.
As to be expected, Ripple has something to say about the SEC charges.
Ripple’s CEO Brad Garlinghouse tweeted that the SEC is unjustifiably attacking crypto and blasted chairman Jay Clayton’s decision to sue his firm right before the holidays.
“Jay Clayton is taking notes from the Grinch this holiday season, leaving the actual legal work to the next administration,” Garlinghouse said, referring to the chairman’s departure at the end of Trump’s presidential tenure.
Ripple has formally responded with a 6 page statement that states:
A. The SEC’s theory, that XRP is an investment contract, is wrong on the facts, the law and the equities.
B. To prove its case amounts to an unprecedented and ill-conceived expansion of the Howey test and the SEC’s enforcement authority against digital assets.
C. The SEC’s theory that XRP is an investment contract ignores the economic reality that XRP is, and has long been, a digital asset with a fully functional ecosystem and a real use case as a bridge currency that does not rely on Ripple’s efforts for its functionality or price.
D. XRP is a currency. XRP is similar to bitcoin and ether, which the SEC has determined are not securities. 1. By alleging that Ripple’s distributions of XRP are investment contracts while maintaining that bitcoin and ether are not securities, the Commission is picking virtual currency winners and losers, destroying U.S.-based, consumer-friendly innovation in the process.
E. This case is distinguishable from the Initial Coin Offering (“ICO”) and/or Simple Agreements for Future Tokens (“SAFTs”) cases that the Commission has brought previously, which involved no developed ecosystem or established utility for the underlying asset, and where the tokens were sold directly to purchasers by the issuer based on promises of profits and ongoing efforts that were articulated in white papers and other forms.
“In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on 8 January 2021 at 9 PM UTC. We will closely follow the unfolding situation and continue to adapt accordingly.”
As reported by us two days ago, Ripple was slapped with a bombshell lawsuit by the U.S. Securities and Exchange Commission SEC on Dec. 22, causing the XRP price to plummet.
Earlier today we reported that XRP was bouncing back from its 3-day price crash, and was up over 40% in the past 24 hours. However, Since the news of the Bitstamp news was released, XRP’s price rise has fizzled, with the current price at the time of publication only up 10.4%.
Notably, Bitstamp is the first major exchange to drop XRP due to its predicament with the regulatory watchdog. The Luxembourg-based company was founded back in 2011. The Bitwise Crypto Index Fund has also axed its holdings of XRP.
The price of cryptocurrency protagonist Bitcoin (BTC) has recently hit the $20,000 milestone, marking a new consecutive day record. According to Coinmarketcap, on December 16th, the Bitcoin price first reached $20,000, climbing to $24,085 on the 19th. As of early Christmas morning, Bitcoin is trading at $24,375 after reaching a high of $24,722 a short while ago. BTC currently has a total market cap of $455.4bn.
But the spotlight is also on Ethereum (ETH), the no. 2 cryptocurrency by market capitalization. According to data published by blockchain data analysis firm Glassnode on December 8th at 11am, there were 1,178,174 wallets holding at least 1 ETH, marking an all-time record. This is a roughly 17% increase over January, when the figure stood at 972,924.
As governments around the world are pouring out money to stabilize the economy shaken by COVID-19 and as low interest rates are persisting, cryptocurrency is also receiving attention from institutions and other investors searching for a destination to invest their ample capital. Data published on the 17th by Bitcoin Treasuries shows that a total of 23 listed and private companies worldwide, including NASDAQ-listed MicroStrategy and Square, held a total of $17.1bn worth of Bitcoin. This represents 4.47% of the total Bitcoin volume in circulation.
The number of Bitcoin fund participants is increasing
According to a report by Reuters published on the 7th, the assets under management (AuM) of British cryptocurrency asset management firm CoinShares reached a record high driven by institutional investors. Institutional investors invested $429m, the second-highest figure ever, raising the total AuM to $15bn. This represents an over six-fold increase over the $2.57bn recorded at the end of 2019.
The total AuM of US cryptocurrency asset management firm Grayscale, fueled by an influx of institutional investors and rising cryptocurrency prices, surpassed $15bn on the 17th. Grayscale Capital’s flagship cryptocurrency fund Bitcoin Trust (GBTC) surged by 40% over the previous month, trading at $28.25.
2020 will certainly go down as the year that the Grinch used covid-19 as the means to bring ample aggravation to the global Whoville residents, but Santa would have none of it and brought ample Christmas cheer to all the good little boys and girls HODLing cryptocurrencies!
The price of XRP crashed more than 50% this week after the SEC filed a lawsuit against Ripple — the company closely associated with XRP — along with its executives Brad Garlinghouse and Christian Larsen for selling over $1.3 billion worth of XRP to the public.
As of early morning East Coast time in the U.S., the price of XRP has jumped more than 44%, providing XRP crypto bulls with a much welcomed Christmas gift.
Bitwise Asset Management, a leading crypto fund manager since 2017, issues this release to announce that the Bitwise 10 Crypto Index Fund (OTCQX: BITW) (the “Fund”) has liquidated its position in XRP.
On Tuesday, December 22, the U.S. Securities and Exchange Commission (“SEC”) filed an action in the United States District Court for the Southern District of New York alleging, among other things, that XRP is a security subject to the registration requirements of the federal securities laws.
The Bitwise 10 Crypto Index Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws. Bitwise’s decision to liquidate its position in XRP was based on consideration of new public information from the SEC’s complaint.
Prior to the sale of the asset on December 22, 2020, XRP was approximately 3.8% of the Fund. The Fund liquidated its position and reinvested the proceeds in other cryptocurrencies for its portfolio.
Bitwise is issuing this release in accordance with the disclosure obligations of OTCQX®. The Fund’s Annual Report, published to satisfy the Alternative Reporting Standard disclosure guidelines for OTCQX® and OTCQB, discloses the significant risks associated with an investment in the shares.
Investors are encouraged to read the Annual Report and carefully consider these and other risks, including the fact that if any of the assets held by the Fund are determined to be a “security” under federal or state securities laws by the Securities and Exchange Commission (“SEC”) or any other agency, or in a proceeding in a court of law or otherwise, it may have material adverse consequences for the Fund and the BITW shares.
Bitwise Asset Management is a leading provider of crypto index and beta funds. Based in San Francisco, Bitwise’s team combines expertise in technology with decades of experience in traditional asset management and indexing—coming from firms including Facebook, Google, Wealthfront, BlackRock, Fidelity, Deutsche Bank, IndexIQ, and ETF.com. Bitwise is backed by leading institutional investors and asset management executives, and is a frequent commentator on crypto in the press. It has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, The Wall Street Journal, The New York Times, and many other leading publications. The firm is a trusted partner to financial advisors, RIAs, multifamily offices, hedge funds, and other professional investors as they navigate the crypto space.
Recently there has been an interesting development in the world of the futures and options markets; the creation of the new futures and options marketplace called the “Bitcoin Fund”. This is not your typical conventional futures broker dealer that you would deal with at your local brokerage firm. There are even a YouTube video showing the “how to get started” process that they have put together, as well as information on the dynamic nature of the market itself. As more businesses begin to explore the technology of virtual digital currency futures trading there will be those that venture into it’s very profitable business aspects.
Blockchain-focused investment group Hashed, under the stewardship of its CEO Simon Kim, registered Hashed Ventures, Inc. in September and successfully raised $120 million in just three months.
Since 2017, Hashed cemented its position as the vanguard of the blockchain industry in South Korea. In addition to investing in seminal blockchain projects around the globe, Hashed evangelized and accelerated public blockchain projects for Asia’s biggest IT companies including Kalytn of Kakao and Link of Line. Recently, Hashed also announced its partnership with KB Kookmin Bank, the biggest bank in South Korea, to establish KODA, a holistic platform to manage digital assets for individual and corporate clients for the first time in the nation.
Through Hashed Venture Fund I, Hashed will be making investments in blockchain and other technology startups that can promote protocol economy. Originally conceptualized by Simon Kim, the term designates an open economy underpinned by independent and consensus-driven protocols that can reward participants more fairly and directly via digital assets. By strategically targeting problems faced by platform giants and investing in innovative solutions, Hashed aims to capture the potential growth of protocol economy’s future markets.
CEO Simon Kim shared, “By ushering in the era of protocol economy, the Korean domestic startup scene will witness the resurgence of the blockchain industry as well as its maturation market attracting both government and institutional support for the new paradigm.”
A recent article in the Financial Times listed several projects that are using the new distributed ledger technology to underpin their trading platforms: a London hedge fund that has already raised $125m, a Slovenia-based consortium led by Nisse Investor Group, and Singaporean exchange-traded fund called Bonaire Investment Management. The latter two projects represent the biggest participation so far in the open market, but cryptocurrency venture funds are only just starting to find their way into the mainstream of global finance. Cryptocurrency venture fund managers who are building companies on the bleeding edge of this new frontier realize that there are big opportunities ahead for those who can best utilize the technology in order to profit through it.
As we have noted before, a major part of the appeal of the new distributed ledger system that lies in the fact that it can be accessed, audited, and used by a wide range of participants in a distributed network. This is in contrast to the legacy banking system, which relies upon controlled and restricted access by a small number of trusted parties. Many of the largest cryptocurrency investors in the world currently use hedge funds to create additional funding for their businesses. If those same large investors are able to make their investments more transparent by providing a more comprehensive view of how their business models work, then they can truly follow-on funding to provide a supportive climate for budding companies.
An even more appealing aspect of this new distributed ledger technology is that it is capable of supporting a wide range of initial businesses – even if those businesses lack the ability to produce a profit. Even if a new company doesn’t manage to become profitable during its lifetime, the money that was raised by the venture fund will still have been recovered by the profits of the main shareholder. In fact, most hedge funds are structured as one continuous investment, with no specific periods of time when money is recovered. This ensures that the company does not miss out on any possible profits due to unwise investments during earlier periods. This can create a self-sustaining stream of income for many years to come, a much more reliable source of capital than that obtained through traditional means.
According to the working group, the new regulations specifically target stablecoins:
“These requirements address a range of policy objectives, including safety and soundness, countering illicit finance, end-user protection, and market integrity. In particular, stablecoin arrangements with greater potential scale, complexity, and interconnectedness should consider.”
Why is the Group Considering the Regulation?
The document states that the group views stablecoins as a potential regulatory risk. The document states:
“Depending on its design and other factors, a stablecoin may constitute a security, commodity, or derivative subject to the U.S. federal securities, commodity, and/or derivatives laws. If so, the federal securities laws,3 and/or the Commodity Exchange Act (“CEA”),4 would govern the stablecoin itself, transactions in, and/or participants involved in the stablecoin arrangement. Whether a stablecoin is a security, commodity, or derivative will depend on the relevant facts and circumstances.”
All stablecoins won’t be considered securities or derivatives, but they may be depending on their makeup.
This statement is significant given the members that make up the President’s Working Group of Financial Markets. They include the Secretary of the Treasury, the Chairperson of the Board of Governors of the Federal Reserve, the Chairperson of the Commodity Futures Trading Commission, and the Chairperson of the Securities Exchange Commission (SEC).
The SEC states that they perceive XRP, the native currency of the Ripple network, to be a security and not a currency like bitcoin or ethereum.
This classification means that Ripple, it’s co-founder, and current CEO are responsible for the sale of unregistered securities and will be held accountable.
As the cryptocurrency market continues to mature, regulatory bodies will likely scrutinize cryptocurrencies with additional oversight.
What is a Stablecoin?
Summary: Stablecoins are a new class of digital currency. Although the concept of stablecoins was considered years ago, only recently has it received widespread attention. Stablecoins refer to a collection of currencies that derive their value solely from an external reference point. Stablecoins can best be classified on the basis of their underlying working mechanisms, namely, Fiat-collateralised, algorithmic, and cryptohash-based stablecoins. The Fiat-Collateralised variety are the most widely recognised stablecoins as they trade against financial instruments like credit and deposit bills. The algorithmic variety of stablecoins, on the other hand, trade against a basket of global currencies (the basket of which they are traded) and are not linked to any particular financial instrument.
One of the advantages associated with stablecoins is their use as an asset. By understanding which option provides the best fit for your circumstances, you will be able to effectively hedge against any potential financial setbacks. When looking at buying, selling, or trading a stablecoin, it is important to consider the factors surrounding the particular coin. Another factor that is crucial is to determine whether one wants to purchase, sell, or trade non-collateralized stablecoins – these are coins that are not backed by any collateral such as certificates of deposit or bank notes. Finally, it is important to consider whether one wants to invest in algorithmically-derived stablecoins (which trade on algorithms instead of actual commodities) or non-algorithmic stablecoins (which trade based on supply and demand fundamentals).
Ethereum 2.0 has already emerged as the fourth-largest proof-of-stake network by total value locked in staking within roughly six weeks of the Eth2 deposit contract going live.
Despite withdrawal functionality not yet enabled and no precise estimation for its full launch date, nearly $1 billion worth of Ether (ETH) has already been designated for staking. According to crypto data aggregator Staking Rewards, more than 1.5 million Ether or 1.35% of Ethereum’s supply has been deposited for staking.
Ether staking rewards are currently estimated at approximately 13.20%, meaning that a single stake of 32 ETH would earn $2,530 over one year at the current price of around $600.
Polkadot, the brain-child of Ethereum co-founder Gavin Wood, is currently the largest staking network by total value locked. Since Polkadot’s mainnet launch in May, the network has seen 67.51% of its supply designated for staking, valued at nearly $3.4 billion. Cardano, a rival network from fellow Ethereum co-founder Charles Hoskinson, ranks as a close second, with 65.53% of its supply locked since July for a staking TVL of $3.37 billion.
Tezos launched staking in 2018, and has the highest rate of network participation among staking networks ranking among the top 50 crypto assets by capitalization with 79.43%. Tezos has a current staking cap of $1.38 billion. Since its mainnet launch last year, Cosmos has also emerged as a top proof-of-stake network, with 71.77% of its supply locked up for a staking TVL of $915,593,114.
While Ethereum 2.0’s developers are yet to provide a precise date for when users will be able to withdraw their staked Ether, staking service provider Rocket Pool recently estimated the function may go live during the first quarter of 2021.
If you have been pondering about getting into the world of smart contract technology or maybe you are just thinking of getting into the best cryptocurrency opportunity for the first time, one of the things that you might be wondering is whether or not it would be beneficial to start a crypto staking plan. Taking into account the info above, the answer is that it certainly can be.
Digital currency markets have seen some volatile action this week and during the last 24 hours following the SEC lawsuit against XRP , a number of coins shed a great deal of value. XRP itself has dropped a mind-altering 40% just in the past 24 hours. Coins like golem (GNT -19%), time new bank (TNB -17%), mossland (MOC -17%), and iot chain (ITC -16%) saw decent percentage losses as well.
At the time of publication, the entire crypto-economy is valued at $629 billion and because XRP lost so much value, bitcoin’s dominance index has risen above the 68% mark.
Just recently, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs Inc. and two of its executives. According to the U.S. regulator’s complaint, Ripple Labs “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.” Since then, the price of XRP fell like a rock, losing nearly 40% during the last 24 hours of trading sessions since the SEC announcement. The XRP plunge has also tugged a number of other crypto-assets down as well during the trading sessions on December 23.
Is this the bottom of Ripple’s price crash?
The truth is that traders need to wait to see what happens. Even if the market is in its third day of declines, it may not have reached bottom yet. In the meantime, this can be used to the XRP bulls’ advantage by capitalizing on the opportunity before others do, and dollar-cost-averaging down to the final bottom. As the old saying goes, “Buy when there is blood in the streets.”
XRP has certainly been bloodied in the last 48 hours!
In the weeks leading up to the XRP price crash, many publications were predicting a fundamental change in the way that money is moved. While some of these currencies did experience significant drops in value, most experienced increases in their value from buyers eager to get a position in these currencies. Even after this panic selloff in Ripple, the trend lines for all of the other top cryptocurrencies remained highly bullish, indicating that this is a dynamic market with significant potential to move higher in the near term.
There are a number of factors that have combined to create a very volatile history for the leading currencies, and if you’re an investor looking to get in on the action, it’s important to understand how the XRP crash happened and what you can do today to maximize your profits. Among the top four currencies, ether and bitcoin are hanging on to their recent gains.
A Cryptocurrency airdrop comes in two forms – Manual and automatic. The former is meant for the general users to have a look over the way the distribution will be carried out and monitor the distribution process itself; the latter is meant for the use of experts in the field, those who know how to manipulate the distribution in order to manipulate the price change. Automated Cryptocurrency airdrops are sent to all the wallets with the help of email notifications. The first kind of distribution is called the Delayed Distribution and as the name suggests, will be sent after a short period of time. The second kind, the Post-dated Distribution will be sent to the addresses registered after the expiry day specified in the contract.
The Recent Ripple Airdrop
Essentially, Ripple is adding Flare Network, a new protocol, to the XRP ecosystem. Flare Network will bring more support to owners of XRP tokens, specifically adding decentralized finance or DeFi functionality to the XRP ledger. As part of this, Flare Network has a native token, Spark (FLR). Over the weekend, any holders of XRP tokens received free Spark tokens. And after driving XRP prices up, it appears that the SEC Ripple lawsuit is now weighing on the crypto.
Still not sure exactly what this airdrop news is all about? DeFi functionality represents cutting out the middlemen from direct purchases, loans, betting, insurance and various other types of transactions. Decentralized finance is one of the biggest appeals of the crypto space — and up until now, most DeFi applications have run on the Ethereum (CCC:ETC) platform.
Now that XRP wants to differentiate itself, many bulls will likely appreciate that through Flare Network, XRP will be able to sustain smart contracts and bridge itself to existing Ethereum applications. For Ripple then, the Spark (FLR) airdrop is a way of kick-starting an important milestone.
The Securities and Exchange Commission (SEC) has charged Ripple — the company closely associated with XRP — along with its executives Brad Garlinghouse and Christian Larsen for selling as well as the ongoing sale of over $1.3 billion worth of XRP to the public.
In the filing, the SEC charged since 2013 up to the present time, the defendants have sold over 14.6 billion XRP in return for cash or other consideration to fund Ripple’s operations.
The SEC said Ripple never filed a registration document, and, therefore, it never provided investors with information all companies that sought investment from the public regularly supplied.
The SEC lawsuit alleges that Ripple broke securities laws by selling XRP directly to consumers across exchanges. According to the complaint filed by The Alliance for Financial Innovation (AFI), Ripple acted in bad faith by not requiring users to sign a disclaimer when offering the discounted currency. Additionally, according to the complaint, Ripple instructed investors to disregard the “Ripple Statement” which is issued by the SEC when promoting the discounted currency. In addition, the complaint claims that Ripple promoted the statement on its website and in emails to customers without disclosing that the advertising was deceptive and in violation of Securities and Exchange Commission (SEC) guidelines. As a result, for lack of any express requirement that customers sign a disclaimer or other agreement, investors have reportedly been sending money to the XRP office for their own private investments. As a result, due to the lack of a disclaimer, the SEC found that Ripple broke securities laws by advertising the discounted currency and not requiring users to purchase a product as a security in advance of making a purchase.
The SEC on Wednesday formally sued Ripple, alleging that its co-founder Christian Larsen and CEO Bradley Garlinghouse “created an information vacuum” that allowed them to sell XRP into a market that only had information they chose to share.
According to the SEC’s lawsuit, the duo ignored legal advice that the cryptocurrency could be considered an investment contract and therefore was a security.
“From a financial perspective, the strategy worked,” raising at least $1.38 billion “over a years-long unregistered offering of securities,” the SEC said. “Ripple used this money to fund its operations without disclosing how it was doing so, or the full extent of its payments to others to assist in its efforts to develop a ‘use’ for XRP and maintain XRP secondary trading markets.”
Larsen and Garlinghouse both fervently have denied the SEC’s allegations, publicly arguing that XRP is a currency and should not have to be registered with the SEC as an investment contract. The company has also questioned the lawsuit’s timing – SEC Chairman Jay Clayton is soon to step down – and said the U.S. government and other regulators had previously given XRP currency status.
In the world of Cryptocurrency, the Ledger Wallet Database Hack is currently the most talked about. The news hit the web with a lot of headlines and images that scared many people into believing this was the next major financial scandal in America. But the truth is something totally different, this type of hack doesn’t involve Cryptocurrency itself. It’s all about password protection and keeping your information safe from unscrupulous people who want to use this for their own gain.
When the Ledger Wallet Database Hack first broke, many people were confused as to what exactly had happened and how it happened. But the real truth is that a group of hackers wanted to gain access to the database of some very important companies in order to find out information on where people were putting their money and what they were planning to do with it. They knew that some people wouldn’t be able to resist their dirty little tricks, so they made it even more difficult for them by hacking into people’s computer systems, taking personal information like passwords, usernames, and account numbers.
Thankfully, there were companies who took these hackers seriously enough to implement an effective system that protect against these types of attacks. These companies work by continuously monitoring the Ledger Wallet database to make sure that people are putting their information into the right places, and that no thieves are getting any information that they can steal. They also update the database on a regular basis to make sure that it stays secure and that people are still able to put their information into the program safely.