US Stock Broker E*Trade to Launch Bitcoin and Ether Trading: Report
Good news this week, folks.
- First, we’ll start off with some E*Trade Financial rumblings (who, by the way, has a ~5M retail base). According to Nathaniel Popper of NYTimes, E*Trade is preparing to launch Bitcoin and Ether trading sometime soon.
- Let’s not forget that TDAmeritrade (via ErisX crypto exchange) will soon be offering the same thing to their ~11M retail base as early as sometime later this year if they don’t hit any regulatory roadblocks.
But it get’s better…
- Bakkt (remember them?) made another splash this week by acquiring the Digital Asset Custody Company (DACC), securing insurance for assets they plan on holding in cold storage… and they revealed a partnership with BNY Mellon.
Simply put, all three of these developments remain significantly BULLISH… and no one should be losing hope on them. Not yet, at least.
Bitfinex Sued by New York
Now the bad news…
- Announcement: The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall.
Long story short, the ugly saga of Bitfinex continues to spiral downhill. As for Tether, this FUD is nothing new.
Both entities are floating, barely, in the middle of some very murky regulatory waters. Now what does all of this mean?
Since Tether accounts for a lot of trading volume… and since most coins have their market cap derived from USDT (as opposed to USD)… It’s safe to say there’s still some hefty systematic risk the crypto space must overcome.
Narrative Watch | Spring 2019 Edition
The one and only Nathaniel Whittemore just published his latest Narrative Watch edition, highlighting:
- The Return of Token Sales
- Ethereum Competition
- Fair Launches vs. Dev Incentives
- Fund Consolidation
Bitcoin is a Demographic Mega-Trend: Data Analysis
Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly, according to new research.
Value Capture & Quantification: Cryptocapital vs. Cryptocommodities
What follows is a description of the two main buckets of cryptoassets we are seeing today (capital and commodities), which then feeds into a discussion of the differences we can expect in the value capture and valuation models between the two.
This is both a revision and expansion of Cryptoasset Valuations. 🔥
1Q19 Crypto Retrospective
Lots of data this week, as well.
🇨🇳 China to Place 5 Yuan Banknotes on the Blockchain
In an effort to stem counterfeiting and prolong the circulation life of the renminbi, China’s Central Bank may begin issuing the 5-yuan note on the blockchain. Their stated goal? To study the application of blockchain technology in order to stop counterfeiting and money laundering.
TWEET OF THE WEEK
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