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ANTICIPATION: The crypto community will be closely watching for news from the SEC, which could make a decision as soon as Friday on the proposed VanEck-SolidX bitcoin ETF.
This institutionally-geared ETF has gained a great deal of attention as its unique qualities, including insurance against theft and hacks, differentiated it from past proposals and put it in a strong position for approval.
That being said, whether the SEC actually greenlights the proposed ETF remains to be seen. Full story
SOMETHING OLD, SOMETHING NEW: Nexus, an insurtech startup, plans to roll out its first insurance product early next year, which would cover the risk of "unintended code usage" in smart contracts on ethereum, i.e. hacks like the one that drained The DAO.
Yet despite that ultra-modern niche, Nexus is also trying to revive an old model of insurance, the mutual, and it's not alone among blockchain projects in trying to do so. Full Story
SEAL OF APPROVAL: Ohio has become the latest U.S. state to legally recognize data stored and transacted on a blockchain.
Gov, John Kasich signed a bill into law that gives blockchain data the same legal standing as other electronic records in a bid to provide a safe harbor for the emerging technology. Full Story |
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CoinDesk Research compiles data on the top cryptocurrencies. We decided to take a look at key performance indicators for ether (ETH) compared to bitcoin (BTC): - Miner revenue fell from parity with BTC to around 60 percent at the end of last month
- Exchange volume (USD) stayed consistently at an average of 37 percent and median of 38 percent to that of BTC
- The number of transactions remains around 3X to that of BTC
Learn more crypto research insights here. |
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| | BULLISH REVERSAL: Bitcoin picked up a bid around the 50-day moving average support of $6,938 earlier today and rose back above $7,000; technical charts indicate scope for a stronger rally toward $7,400. Full story |
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BEST OF THE BEST
MOTHERBOARD: Despite what you may have heard, Starbucks won't be accepting bitcoin for Frappucinos.
The coffee behemoth clarified its role in a crypto-related partnership with Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, and Microsoft. And the chain has no plans yet to accept bitcoins as payment in its ubiquitous coffee shops.
“It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks,” a spokesperson told Motherboard.
THE REST
REUTERS: Initial coin offerings (ICO) are more likely to fail if they didn't provide appropriate information at the beginning, Reuters reports, citing a study published on Monday.
The study, based on a sample of 776 ICOs, suggests methods to assure investors, including: releasing informative white papers; being evaluated by rating agencies; and making the source code available, to show there is a finite supply of tokens and limits on when those tokens can be cashed in.
CRAIN'S NEW YORK BUSINESS: Here's a hyper-local spin on the tokenization phenomenon.
Gerard Marrone, a criminal defense lawyer, real estate broker, and protein-shake hawker from the New York City borough of Queens, is seeking to raise $75 million through an ICO, pending approval from federal regulators.
He would use the money to buy rental properties in and around the Bronx and allow tenants to pay their rent using the Pax Coin token, which will allow them to get a 1% discount for rent payments and an additional 1% rebate if they use a special debit card.
But the best part is when the reporter visits a laundromat with a bitcoin ATM, and is told by an employee, "No one pays for their laundry with bitcoin. That's the thing people invest in, isn't it?" |
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WHO WON #CRYPTOTWITTER |
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