Investors Back World’s First Blockchain Bond, Demand From Institutions

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  The Commonwealth Bank of Australia (CBA) and the World Bank launched the first blockchain bond in the global finance sector this month. Already, institutional investors are showing increasing interest. On August 10, CCN reported that World Bank selected CBA, the biggest bank in Australia, to issue the world’s first blockchain bond based on the Ethereum blockchain network. Bond-I, the blockchain-based debt instrument, implemented Microsoft’s blockchain cloud computing platform Azure that is compatible with the Ethereum network to settle orders, after Microsoft confirmed that Ethereum is able to securely facilitate…

Bittrex Partners With Trading Firm

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  U.S.-based cryptocurrency exchange Bittrex is partnering with a regulated alternative trading system (ATS) with the aim of ultimately launching trading in crypto securities. In an announcement Thursday, Bitrex said it is working with Rialto Trading, which currently offers fixed-income products for traders, to gain regulatory approval to support “blockchain-based securities,” according to a press release. StartupStockPhotos (CC0) Cryptocurrency exchange Bittrex If approval is granted, Rialto plans to launch a “comprehensive” securities offering, including an issuance advisory service, placement, trading and custody. For the system, the firm will leverage its…

Bitcoin Price Defends Key Support Despite ETF Rejections

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Bitcoin is teasing a minor rally today, having defended key support at $6,230 despite a string of bad news. At press time, the leading cryptocurrency is changing hands at $6,400 on Bitfinex – down 3 percent on a 24-hour basis. Meanwhile, 94 out of the top 100 cryptocurrencies by market capitalization are flashing red, according to CoinMarketCap. The risk-off tone in the cryptocurrency markets is likely associated with the US Securities Exchange Commission’s (SEC) rejection of several proposals for bitcoin exchange-traded funds (ETFs) on Wednesday. Further, it was reported earlier…

China Seeks to Block Access to 124 Foreign Crypto Exchanges

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Chinese regulators are moving to block more than 100 overseas crypto exchanges from offering trading services to domestic investors. Shanghai Securities Times, a mouthpiece of the Chinese financial authorities, reported on Thursday that the China National Fintech Risk Rectification Office has so far identified 124 trading platforms with overseas IP addresses but that are still available in the country. The office now plans to step up its efforts in monitoring commercial use of cryptocurrency and to block internet access to these trading platforms, the report said. Authorized in 2016 by China’s State…

Today’s Bitcoin Price Pump Was Fueled by $100 Million in New Tethers

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Early this morning, the bitcoin price leaped nearly $300 in just one minute, spurring a rally that carried the flagship cryptocurrency from $6,466 to $6,899 during a frenzied half-hour of trading. Analyzing Wednesday’s Bitcoin Price Pump Unfortunately, BTC proved unable to sustain that level, and after tapering off throughout the morning and early afternoon, the bitcoin price made a severe downward pivot that reversed the effects of the early morning rally. BTC/USD | Bitfinex As CCN reported, the pump occurred almost at the exact moment that BitMEX, the largest leveraged…

Airbnb Co-Founder Backs $22 Million Funding for Crypto Dealer SFOX

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A cryptocurrency dealer setting out to provide trading services for institutional investors has closed a Series A funding round of $22.7 million. Called SFOX, the platform announced on Thursday that its new equity financing was led by Tribe Capital and Social Capital, and has backing from Airbnb co-founder Nathan Blecharczyk, Y Combinator, Danhua Venture Capital, Digital Currency Group and more. Founded in 2014, SFOX operates as a trading hub for institutional investors, high-net-worth individuals and family offices. The firm helps these high volume traders fulfill their buy and sell orders by…

Jamaica Stock Exchange to Trade Crypto Assets in 2018

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The Jamaica Stock Exchange (JSE) will soon be offering cryptocurrencies as tradeable assets for clients. The company said Tuesday that it had signed a memorandum of understanding (MoU) with blockchain startup Blockstation for the creation of a new digital assets trading platform. While it is not clear which tokens will be initially listed, the platform is set to go live by the end of the year. In interview, JSE managing director Marlene Street Forrest said that offering cryptocurrencies as investment products fits in with the equities, bonds and other investment…

Where Roads Can’t Reach, Blockchain Drones Just Might Travel

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A metal frame with four small and two large propellers – carrying a container the size of a refrigerator – rises into the air with a roar, hovering above an empty road amidst snowy fields. The video was shot on the airfield near the Russian city of Kazan, which is located to the south-east of Moscow, and the machine is a SKYF drone, designed by a team of Russian aviation engineers. According to its makers, the drone can carry up to 880 pounds, travel as far as 220 miles and work…

94 Companies Join IBM and Maersk’s Blockchain Supply Chain

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IBM and shipping giant Maersk have recruited a sturdy crew for their global trade blockchain platform. Revealed Wednesday, the companies have already signed up 94 firms for the platform since it was spun off from Maersk in January. They have also finally given it a name: TradeLens. Leveraging Maersk’s leviathan-like scale, TradeLens has attracted a wide variety of entities, ranging from dozens of port operators and customs authorities to logistics companies and even rival ocean-going carriers, such as Pacific International Lines, all of whom have been testing the platform. The pilot…

4 STATS THAT SHOW A CRYPTO MARKET IN DECLINE? | BITSENT.ORG

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  The crypto markets are seeing red in a big way Wednesday as an ongoing rout is wiping away billions of dollars in value. As reported by CoinDesk, the collective market capitalization for all crypto assets hit a new low for the year earlier today – as it stands, the overall market cap is roughly $225 billion, representing a significant decline from the more than $800 billion witnessed in early January of this year. Crypto market information Among the developments driving the market turmoil: the fact that the U.S. Securities and Exchange…