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ANOTHER ETF: Crescent Crypto Asset Management, a passive index fund manager, declared its intent to file for a new crypto exchange-traded fund (ETF) through a subsidiary, and in partnership with NYSE Arca, according to a prospectus filed with the U.S. Securities and Exchange Commission Friday. The ETF, if approved, would give investors exposure to bitcoin and ether, the two top cryptocurrencies by market cap, which make up some 65 percent of the overall market. Full Story
CRYPTO MORTGAGES: Fintech startup fluidity wants to launch ethereum-powered mortgages in California and New York. Fluidity chief architect Todd Lipplatt said the company intends to “tokenize the house,” using smart contracts for back-end management. Fluidity intends to begin offering these mortgages over the summer, once the appropriate licensing paperwork is finalized. Full Story
BLOCKCHAIN CREDIT: Figure Technologies, the new fintech startup founded by former SoFi CEO Mike Cagney, has closed a $1 billion line of credit on a blockchain through investment bank Jefferies and WSFS Financial Corporation. The “uncommitted” deal would be custodied on Figure’s own blockchain platform, Provenance.io. Full Story
FINTECH TASK FORCE: The U.S. House of Representatives – the lower body in Congress - has launched a new task force specifically dedicated to evaluating new financial technologies, including blockchain tools. The FinTech Task Force, part of the House Financial Services Committee, includes notable blockchain proponents like Reps. Warren Davidson, Tom Emmer and Josh Gottheimer, all of whom have sponsored or co-sponsored legislation aimed at increasing adoption of the nascent tech. Full Story
CONGRESSIONAL INTEREST: The U.S. Senate Banking Committee is interested in how Facebook will treat financial and consumer data, and how that ties into its cryptocurrency project. The committee sent an open letter to Mark Zuckerberg asking him how the cryptocurrency, code-named Project Libra, will operate, how Facebook has interacted with regulators and how Facebook is treating individual consumers’ personal information. Full Story |
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| ALTCOINS RISING: Bitcoin's ascent continues, with prices hitting six-month highs above $6,300 earlier today – a move that bolstered the already bullish technical setup. Hence, prices look set to rise further toward key resistance at $6,500, albeit after a dip suggested by the short-term charts. Other cryptocurrencies have been lagging bitcoin’s rise, but could soon join the party, as the combined altcoin market cap is flashing a bullish technical pattern. Full Story |
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BEST OF THE BEST
GAME GOODS: The advent of crypto collectibles like CryptoKitties is bringing a shift in the possibilities for in-game goods, according to Wired. While currently such digital items are, by and large, stuck in the game and disappear if it the game is deleted, putting them on a blockchain would allow goods to be freely traded on platforms, as well as free developers from the headache of having to manage them. Not only that but the idea would allow digital collectibles to have a more important role than, as in the case of CryptoKitties, just being stuck on a blockchain to be occasionally looked at.
THE REST
HIDDEN BLOCKCHAIN: Larry Sanger, co-founder of Wikipedia and CIO at blockchain platform Everipedia, has said that decentralized apps (dapps) are still too technical and offer poor user experience for most consumers, The Next Web reports. “I don’t think there’s a single dapp that’s reached the potential we expect them to have,” he said at a TNW event. Even the very word “blockchain” is a turn-off for users, Sangers added. As such, Everipedia will be hiding any references to the tech from its interface.
BEER 4 BITCOIN: Rotate, a London bar popular with crypto traders and investors, recently started taking bitcoin payments via the Lightning Network for its liquid offerings. According to Breakermag, the bar is the regular haunt of a gang of 30-40 traders and offering crypto payments was a natural progression. However, while lightning is touted as offering faster payments than using the bitcoin network directly, there were some issues with unexplained delays soon after launch, according to manager Ross McNeil.
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WHO WON #CRYPTOTWITTER  |
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