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JOHN'S TRADING: Noted cybersecurity expert and eccentric crypto fan John McAfee has just launched a cryptocurrency trading platform. Dubbed “Magic,” the site claims to let users “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.” Notably, the exchange appears to be non-custodial, with users’ crypto holdings remaining on eight other exchange platforms. When a trade is executed, funds are transferred from those accounts to complete the transaction. The service offers normal spot trading, as well as “shadow trading,” in which a user’s trades can be set to mimic those of pro-level traders. Full story
BAKKT TESTING: The Intercontinental Exchange’s pending bitcoin platform Bakkt plans to begin testing its two futures contracts on July 22 of this year. In a blog post that likened Bakkt’s launch to the Apollo 11 moon landing, chief operating officer Adam White wrote that the platform will “initiate user acceptance testing” for its bitcoin futures contracts, which will be listed and traded by its parent company. In addition, ICE provided new details for Bakkt’s monthly contract, as well as updating the specifications for its daily contract. Full details
MISSING LINK? Fnality International is building what it considers the missing link in banking blockchain. Formerly known as the Utility Settlement Coin (USC), the U.K.-based project is developing blockchain versions of five major fiat currencies. Led by former Deutsche Bank executive Rhomaios Ram, the consortium boasts an ample budget, having just raised $63.2 million from 14 shareholder banks. In a recent interview with CoinDesk, Ram and other bank and tech executives involved in Fnality shed some light on the previously secretive project’s plans – starting with the role these tokens would play in the enterprise blockchain ecosystem and the wider financial world. Full story
BUFFETT LUNCH: Tron CEO Justin Sun is moving his $4.6 million lunch date with Warren Buffett to “the heartland of tech,” aka Silicon Valley. This is the first time since the annual “power lunch” tradition started in 2000 that the meal will take place in San Francisco. “We want this lunch to be a bridge between the cryptocurrency community and the traditional investor,” Sun said to Yahoo Finance on Monday. Buffett told Bloomberg, “I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends.” Full story
TERMINAL FEED: The financial terminals of Thomson Reuters and Bloomberg will soon provide cryptocurrency data from an index that takes into account social media posts and news. Index provider Cryptoindex said terminal users will be able to view the top 100 performing cryptocurrencies as per its own rankings. “Over 33 terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins,” according to the firm. Popular traders’ social networking and data analysis site TradingView will also add the index as an additional option for users. Full story
LIGHTNING TOP-UPS? New research from mobile mesh networking company goTenna explores how mobile communications could be decentralized with the help of bitcoin’s lightning network. In a new paper, the team describes how mesh networks for sending mobile communications such as text messages could be powered by bitcoin micropayments. What’s more, they’ve established a new subsidiary to move forward with this goal. “80 billion mobile messages are sent each day … Mobile mesh networks offer an anti-fragile, decentralized alternative that can extend connectivity to places centralized networks can’t,” the project website argues. Full story |
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RANGE BREAKOUT: Bitcoin's price ended its eight days of consolidation with a convincing move above $8,100 on Wednesday. The bullish breakout on the 4-hour chart has opened the doors to retest of $8,400. So far, however, prices have struggled to capitalize on the bullish breakout and the case for further gains would weaken if prices drop back through support near $7,900. That said, the outlook would turn bearish only below $7,500 – a level which has acted as strong support since June 8. Full story |
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| LOOKING FORWARD: A feature in Forbes peers into blockchain’s future and makes five predictions on what lies in store for the nascent tech. Firstly, Adam Efrima, co-founder of Blox, writes that the U.S. economy will ultimately see an end to its record-breaking bull run, and when that happens investors will look to blockchain firms for their “next great project.” Further, the “wait and see” regulatory approach in the States isn’t likely to change in order to keep the nation’s place in the world as a tech leader. Efrima also anticipates that gaming will become an increasingly important use case, stablecoins will take off and the industry will realise that there is no blockchain “killer app.” |
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