Bitcoin Crosses $8k / Crypto Hedge Funds / Russel Okung / Know Your Customer

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Presented by Subscribe | View in browser $BTC (3:55 p.m. EST): $7,796.63 (-0.50%) // 90-day high: $8,268.71 // 90-day low: $3,607.70 / / More… $BCH ABC (3:55 p.m. EST): $371.73 (-4.95%) // 90-day high: $407.58// 90-day low: $121.15 // More… $ETH (3:55 p.m. EST): $204.25 (1.69%) // 90-day high: $213.59 // 90-day low: $121.33 // More… $LTC (3:55 p.m. EST): $88.57 (-1.55%) // 90-day high: $97.50 // 90-day low: $41.27 // More… $XRP (3:55 p.m. EST): $0.39 (19.12%) // 90-day high: $0.41 // 90-day low: $0.28 // More…       1. Bitcoin passed through $8k and is up 50% in May as investors believe the crypto winter is over.  Bitcoin continues its meteoric rise as it now accounts for 60% of the total cryptocurrency market cap, the highest since December 2017. Bitcoin is up over $500 since Monday. It continues to be uncorrelated to equity markets as the Dow Jones and S&P 500 both tumbled 2.4% by the end of the trading day on Monday amid the ongoing U.S. and China trade war. -WALL STREET JOURNAL       2. Cryptocurrency hedge funds on average lost 46% of their assets in 2018. Despite the drop in cryptocurrency prices and bitcoin falling nearly 72%, the reported median of assets under management grew 3x from $1.2 million to $4.3 million. This shows that hedge funds continued to buy cryptocurrencies during the bear market. There are currently 150 active crypto hedge funds that collectively manage $1 billion in assets. -BLOOMBERG       A MESSAGE FROM MANAGED BY Q 2019 Workplace Trends Report How, where, and why we work is changing. This report identifies the five major trends that employers of all sizes and industries must effectively integrate into their workspace to stay relevant as workplace culture and technology rapidly evolve.   Download the 2019 Workplace Trends Report 3. From The Forums: NFL player and starting left tackle for the San Diego Chargers, Russel Okung, tweeted, "Pay me in Bitcoin." That caused a frenzy among many influencers and companies within the crypto community, including Lolli and Trezor which offered their services to him. Okung followed that tweet up with a tweetstorm that continued to display his fondness of the cryptocurrency. "How dope would it be to see a ESPN headline with an athlete being paid in $BTC?" When asked how his teammates felt about BTC he responded, "I'm talking to them about it right now". He then took a line made popular by cryptocurrency investor, Anthony Pompliano, and tweeted it to his 152k followers. "I'm part of the revolution. Long $BTC, short the bankers."       4. Sigal Mandelker, the U.S. Treasury Department's undersecretary for terrorism and financial intelligence, warned cryptocurrency exchanges to comply with regulations designed to prevent money laundering and the financing of terrorism. Speaking at Consensus during New York Blockchain Week Mandelker said, "Nobody here wants to see innovative products and services misused to support terrorism and weapons proliferation." Since 2013 the Treasury Department has received 47,000 suspicious activity reports citing bitcoin or other cryptocurrencies with half of the reports filed coming from crypto exchange administrators themselves. -YAHOO       A MESSAGE FROM BRAVADO TRADING Is the Bitcoin bottom in? Download the FREE Analysis Navigating the crypto space is tough, but our team of traders and investors can do a lot of the heavy lifting for you when you join our community. Start by downloading our free Bitcoin bottom analysis, detailed with charts & other imagery and see exactly what we predict Bitcoin is going to do. 5. In an effort to increase Hyperledger Fabric's usage, IBM established five blockchain principles to drive enterprise adoption and benefit society. -FORBES 6. Bakkt announced bitcoin futures in collaboration with ICE Futures U.S. and ICE Clear U.S. -BAKKT 7. Traditional financial advisors are taking a closer look at cryptocurrency for their clients. -ETFDB 8. Ethereum co-founder Joseph Lubin stated Ethereum will become 1,000x more scalable in the next 24 months with the implementation of Ethereum 2.0. -COIN TELEGRAPH 9. Three French-based banking institutions BNP Paribas, Natixis, and Societe Generale have joined R3 Corda a blockcain-based loan platform. -COIN TELEGRAPH 10. Bank of New York Mellon has appointed Subhankar Sinha, who came from PricewaterhouseCoopers, as the new Head of Blockchain. -ASSET SERVICING TIMES       Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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