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FUTURES LAUNCH: Bitcoin futures provider Bakkt announced it had been "cleared to launch" on Sept. 23 after securing a New York state trust charter through the New York Department of Financial Services (NYDFS). The charter allows Bakkt to operate its own warehouse. CEO Kelly Loeffler told CoinDesk that the company will continue to onboard new customers in anticipation of the launch. At launch, Bakkt will offer a daily and a monthly contract. The daily contract in particular, Loeffler said, will allow customers to essentially transact on a federally regulated exchange. Full story
BIG 4 BLUNDER: Out-of-pocket users of the QuadrigaCX crypto exchange are growing frustrated over 103 bitcoins that were accidentally transferred into inaccessible wallets by court-appointed monitor EY, a “Big Four” auditing firm. The passwords to the wallets were only known by the now-deceased CEO of the exchange and, unless they are recovered, there’s no way to get the bitcoin back. The blunder occurred in February, and the coins are now worth about $1.03 million. “This sounds like gross negligence to us and many of us want to hold EY accountable for what happened,” Ali Mousavi, one of the creditors, told CoinDesk. Full story
COINBASE ACQUISITION: Cryptocurrency exchange Coinbase has acquired the institutional business of cryptocurrency wallet and custody service provider Xapo. Coinbase said in an announcement on Thursday that the deal will help expand its custody business and will increase its assets under custody to more than $7 billion. According to Fortune, Coinbase acquired Xapo’s institutional business for $55 million after beating off another strong contender, investment giant Fidelity. Full story
COMING SOON: The dedicated US arm of cryptocurrency exchange Binance will go live by November, according to Binance’s CEO. Changpeng “CZ” Zhao told Cheddar in an interview on Wednesday that, while the situation is still “in flux,” he expects the new platform would go live in “a month or two.” CZ further said that the US exchange will not initially operate in New York state, which sets a high bar for crypto firms applying for its “BitLicense.” Neither Binance nor its US trading partner, BAM Trading, have yet applied for the license. Full story
KIND OF CRYPTO: A review of over 50 patent applications submitted by the People’s Bank of China shows the design of its central bank digital currency will only resemble a cryptocurrency in limited ways. Far from emulating the decentralized aspects of ether and bitcoin, a senior official recently emphasized that the central bank’s digital currency will stick to a centralized management model. They said the effort will be helpful to “restrain public’s demands for crypto assets and to strengthen the country’s sovereign currency.” Full story
PERLs AT STAKE: Perlin hasn’t even launched its PERL cryptocurrency, yet already a leading staking-as-a-service startup has agreed to support the asset. Staked – a firm that has the backing of some of the most notable funds in crypto, including Pantera, Winklevoss Capital and Coinbase Ventures – helps holders of proof-of-stake tokens maximize their returns. PERL will allow access to a suite of applications designed to aid the international trade and trade finance industry, which is still very much bogged down by paperwork, according to Perlin CEO Dorjee Sun. Full story
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| SMALL RELIEF: Bitcoin has bounced up from a widely-followed moving average support, but is still trading below Thursday's high of $10,445. A break above that level would confirm short-term bullish reversal. That said, BTC may have a tough time scaling the key resistance, as the daily chart studies are still biased bearish. Full story |
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| | BLOCKCHAIN LAMBO: A Lamborghini painted by the 19 year old artist Skyler Grey (not the musician), dubbed the “Fresh Prince of Street Art,” has become the first artwork certified via the pilot blockchain project, “Lamborghini Sicura”. Launched in collaboration with the Salesforce Blockchain, the Sicura project aims to preserve the provenance of a car – as a work of art – on an immutable ledger to prevent counterfeiting, reports wheels24.co. The Aventador S will be on display from August 15-18 2019 at The Lamborghini Lounge Monterey, California. |
WHO WON #CRYPTOTWITTER
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