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Another week, another round of Crypto Tidbits. Last week, the cryptocurrency market has not changed much. Bitcoin (BTC) has been trading relatively flat, with the exception of a few episodes of major volatility, and other digital badets have followed. Some altcoins, however, have experienced a week of hell. Binance Coin, Chainlink and Litecoin come to mind first.
The cryptocurrency space has been tumultuous lately; we have seen both positive and negative news. But there is an underlying theme: the sector is growing rapidly. Over the last seven days, AT & T has revealed that it will accept Bitcoin payments, Grayscale will launch an Ethereum product to the public, and developments will occur regarding Facebook's incoming digital badet called Globalcoin.
Related Reading: Cryptographic Tidbits: "Spedn" Bitcoin at Whole Foods, Cynic Flips Cynic Bullish Flips, and Bakkt Looms
Crypto Tidbits
- Binance confirms the imminent launch of margin trading: In a Twitter article on Thursday, Binance quietly revealed that it has a user interface for leverage (leverage) trading ready to be deployed "soon". The launch date for this feature is unclear, but badysts said it would be a revolution in how the cryptocurrency market works and trades. This confirmation came after Binance's support at the margin was evoked and hinted for months. Only a few weeks ago, CEO Changpeng Zhao told the Periscope live streaming app that his company had begun giving institutional / whale-watching players the opportunity to play with the margin offered by Binance. And weeks before that, outlets like The Block have quoted insiders who claimed that Binance was looking to get into margin trading.
Dark mode ? or light mode? #Binance pic.twitter.com/pGSb1np4yp
– Binance (@binance) May 24, 2019
- AT & T now accepts Bitcoin via BitPay: Announced Thursday, AT & T, a US-based technology giant based in Texas valued at $ 234 billion, will accept Bitcoin payments for its services via BitPay, headquartered in Atlanta. By press release, AT & T is now the first "major US mobile operator" to offer its millions of customers the opportunity to purchase services for cryptocurrency. Sincerely, Kevin McDorman, Vice President of the Financial Operations Unit of AT & T Communications, said:
"We are always looking for ways to improve and extend our services … We have customers who use cryptocurrency, and we are happy to be able to offer them a way to pay their bills. with the method they prefer. "
By the time this news was announced, many members of the cryptographic community saw this as a validation of the return of the Bitcoin bull. Why would a large company accept that a "dying" badet is "already dead," is not it?
- Grayscale to offer Ethereum Trust to Mom & Pop investors: In a press release obtained Thursday by Blockonomi, Grayscale revealed that he had just received approval from the Financial Regulatory Authority (FINRA) to publicly grant shares to his Ethereum Trust. It was stated that the product allowed investors to obtain "exposure to ETH price movement through a traditional investment vehicle without the difficulties of purchasing, storing and storing". Once the product is launched in a few weeks, it will be traded under "ETHE" on the OTCQX market. In a comment to Bloomberg, Michael Sonnenshein of Grayscale said: "The secondary market really offers an opportunity for all investors." Grayscale is probably trying to replicate the success of its Bitcoin Trust, which holds more than 1% of the total BTC outstanding under management.
- Novogratz's Galaxy Digital realizes 123% stake in Block.one: Mike Digital of Mike Novogratz, Galaxy Digital, sold most of its shares in Block.one, the blockchain development start-up, which finances the EOS protocol, for a total of $ 71.2 million. The company records a realized return of 123% on the investment. Although the merchant bank holds only a minimal number of shares in Block.one, it will still work with the start-up on a number of functions, notably through the venture capital fund Galaxy de EOS, and as a promoter of the blockchain in general. As we mentioned earlier, this is one of Galaxy's biggest hits so far, as 2018 was not very pretty for the firm. Galaxy lost $ 97 million in the fourth quarter of 2018, up from a loss of $ 76.7 million in the third quarter.
- The Bitcoin & T-Bills ETF was filed with the SEC after the VanEck debacle: After the US Securities and Exchange Commission (SEC) announced it would delay its verdict on Bitcoin ETF proposals from VanEck and Bitwise, a similar product has been filed. The deposit allegedly belongs to an encrypted product, named United States Bitcoin and Treasury Investment Trust. Unlike the vehicles offered by VanEck & Co. or Bitwise & Co., Wilshire's confidence was expected to hold positions not only on BTC, but also on short-term US Treasury bonds and US dollars. Once the deposit is pushed to the US registry, the SEC will have 45 days to make an initial decision to accept, refuse or postpone.
- Circle licenses staff, cites heavy regulation and crypto market conditions Jeremy Allaire, the co-founder of Circle, revealed Tuesday that his team and his suite had decided to eliminate "about 30 positions", accounting for 10% of the entire company. In a three-part discussion thread, Allaire noted that this decision was the result of "new market conditions," coupled with an increasingly stringent and constraining regulatory environment in the United States. What is strange is that this layoff intervened "in response to the new market conditions", which implies that Circle did not benefit from the recent cryptocurrency rally, which brought the BTC from $ 4,200 to $ 8,000.
- Zuckerberg literally sits with the Winklevoss twins to discuss Facebook's cryptocurrency:
Featured image of Shutterstock
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