While the Fed mulls issuing 50 & 100yr maturity bonds and the biggest actively managed fixed-income-fund punched in a measly -1.07% return for 1H19, bitcoin fended off the selling pressure that briefly took it sub-$10K and spent the weekend bound within $9982~10540. Lacking direction, volumes tapered off to low-teens as we start up the week while the Fear and Greed index still pinned down at lowest levels YTD. This was in the face of reports of alleged movement of $240mn PlusToken scam proceeds.
$BNB unaffected by warnings for yet more threats of additional user data being released as CZ confirms earlier guidance for a US Binance launch in two months. Coinbase was lucky to have the 3,420 details stored in clear text unattacked. This comes off the heels off Bakkt’s much anticipated and twice-delayed launch of their physical bitcoin deliverable futures exchange as they guide full CFTC, NY State Department of Financial Services clearance and an official 23rd September launch date. What’s interesting is they will “will not rely upon unregulated spot markets for settlement prices” yet stop short of revealing what their source will be. This will be the latest product in attempting to cater to the traditional finance converts a’la CME & Grayscale. Their products offer exposure to the space have historically shown some serious tracking errors. The fact that anyone is willing to fully collateralize their futures exposure and then some, or pay 2% annual fees to have exposure to an asset that you could literally get on your own through a myriad of vendors at as little as 1/10 in transaction fees is beyond me. The only explanation I can think of is well-capitalized funds (or individuals) in traditional finance unconcerned with capital management efficiency that don’t know how or can’t under existing mandates. I foresee significant market share encroachment from these two players.
Coinone is hoping to stem the industry practice of lofty “listing fees” that may or may not end up in the exchange’s coffers as they issue nine criteria used to judge listing eligibility. Be great if the other exchanges could reciprocate, would go a long way in stamping out the improper practices that exist today.
Following the much anticipated Chinese CBDC launch, the PRC government has punched in yet another milestone as they permit research and promotion of both their to-be-launched CBD & crypto in the Shenzhen Special Economic Zone.
Oh, and we have another #Faketoshi to deal with now it seems as some ninja puts out a comical explanation as to why he is the OG.
- NEXO ($NEXO) +5.3% post 12.7% annualized dividend payout 15th.
- NEO ($NEO) +2.9% discussing potential layer-two scaling solutions with Celer Network ($CELR) +3.9%
- Aussies betting the house with their retirement Self Managed Super Funds get reprimanded.
- QuadrigaCX auditor still has no clue 6months after being on the case.
- Pundi X provides retail point of sale in Paname through partnership with Chainzilla.
- Libra. US House Financial Services Committee to meet with Swiss officials.
- Silvergate Bank to offer crypto loans (pg13)
May the trend be your friend… Happy trading!
