Even as Blockchain tops $17,000 today and is rumored to hit $20,000, I still believe cryptocurrency as a currency doesn’t have much there. I don’t think blockchain is a “real” investing opportunity, unless you’re an institutional hedge fund betting on the momentum trade. There is a real likelihood that bitcoin will crash and lose 80% of its value, Read more »
Bitcoin continued its upward climb today. As of this morning, single-coin prices were around the $17,000 level, with momentum strong on this latest bull run. The BTCC exchange had it at $19,400, which would be an all-time high.
The bitcoin effect is having an impact on other lesser-priced cryptocurrencies as well,
Financial services firm UBS, along with Barclays, Credit Suisse, KBC, SIX and Thomson Reuters, are testing a blockchain platform to help them comply with new MiFIDII regulatory requirements due to come into force next year.
The project, called Massive Autonomous Distributed Reconciliation (Madrec) platform,
The head of Bulgaria’s Special Prosecutor’s Office, Ivan Geshev, has denied that the Prosecutor’s Office and the Bulgarian Interior Ministry has confiscated more than 200,000 bitcoins, now worth around $3.2 billion.
In May of this year, a crackdown on organized crime by Bulgarian law enforcement resulted in the seizure of 213,519 bitcoins.
The Hong Kong Securities and Futures Commission (SFC) has warned investors of the risks associated with bitcoin futures contracts and other cryptocurrency-related investment products.
The SFC noted that futures and commodities exchanges in the US have launched or will soon launch bitcoin futures contracts which Hong Kong investors may be able to trade through an intermediary.
Blockchain security company BitGo has raised $42.5 million in a Series B funding round, led by Valor Equity Partners. The round also saw the participation of Chicago-based trading firm DRW, David Sacks and Bill Lee.
The company said the funds will be used to expand its business outside the US to help more companies dive into the nascent digital coin market.
Venezuelan President Nicolas Maduro has announced the creation of an executive body that will govern the transactions with the country’s oil-backed ‘El Petro’ cryptocurrency.
According to reports, El Petro will be backed by Venezuelan reserves of gold, oil, gas, and diamonds. The cryptocurrency will help combat the US’ “blockade” against the country.
The US Securities and Exchange Commission (SEC) has ordered a California company to refund tokens sold in a $15 million initial coin offering (ICO).
Munchee was envisioned as a “Yelp Meets Instagram” that would be used to source restaurant reviews. The MUN token would be an incentive for activity on its network.
Litecoin is making its move. The digital currency markets may have seen skyrocketing prices, but the “silver” of cryptocurrency is finally awakening, no doubt driven by the unusual number of new investors pouring into the market.
Litecoin traded between $134.12 and $208.03 today,
Bitcoin futures trading is underway on Wall Street, bringing government regulation and oversight to the cryptocurrency market for the first time. The advent of trading by CBOE and CME Group should give new vigor to trading in the coming weeks, as opportunities expand and perhaps lure more institutional money on board.