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Signature Bank Already Beat JPMorgan in Creating a Blockchain Coin via Its Signet System Nearly 2 Months Ago

There’s been a lot of buzz around the recent decision that JPMorgan Chase CEO Jamie Dimon took on to offer a blockchain-based digital asset. The concept has been rife with controversy, with many publications saying that it should not even be considered a real cryptocurrency. Even with all of this publicity, Signature Bank actually already offers this type of asset, and it has been available for over two months. The Signet system through Signature bank has already brought in over 100 clients to use the program, and millions of dollars are going through the system each day. Joseph J. DePaolo, the CEO and president of Signature Bank, said, “We can say there are trades going on in the millions some days and tens of millions other days and I would say the number of clients we have is in the triple digits.” Right now, there are very few banks in the United States that make it possible to offer deposit accounts to crypto startups, thought Signature is included in that collection. Also included in that small group is Metropolitan Bank and Silvergate Bank, which are located in New York and San Diego respectively. There are many non-crypto businesses that are looking to add Signet to their own infrastructure, even though the first to adopt it were based in the crypto industry. American PowerNet, an electrical power trading firm, integrated Signet as their payments platform for customers. However, there are two “ecosystems” that require fast movement of funds and/or property. The CEO stated, “We will shortly onboard a substantial cargo ecosystem and wholesale diamonds.” However, the names of the organizations were not provided. He added that the bank was presently debating a partnership with a title insurance company as well, commenting, “If you’ve ever been involved in a commercial real estate closing, usually all the lawyers are sitting around eating lunch waiting for the wire transfer.” Signature Bank is in charge of managing $45 billion in assets, even though they are a miniscule fraction of JPMorgan. That may be way chairman of Signature, Scott Shay, seemed to be proud of the similarity between their own asset and the JPM Coin from JPMorgan. Both the blockchain system at Signature and the JPM Coin rude on private Ethereum technology. The Signet platform is a proprietary blockchain, while JPM Coin uses Quorum, a data privacy-oriented fork of the Ethereum public blockchain code. Another common factor between these two individual assets is the use of stablecoins, because the value of the asset is linked directly to the dollar at a one-to-one ratio. Overall, with these traits, JPM Coin hopes to eventually eliminate wire transfers, opting for a blockchain ledger instead, which is basically what Silvergate Bank offers in the SEN system, but with crypto compatibility. Shay commented that there are multiple uses that Signet can be a part of that sets it apart significantly from JPM Coin. He said, “If you happen to be an exchange [SEN] is useful, but we developed Signet to be tailored to a wide variety of industries. It’s not crypto exchange-focused.” Shay added that Signet did not need approval from the New York State Department of Financial Services (NYDFS), because it already had it. JPMorgan, on the other hand, said, “We will actively engage our regulators to explain its design and solicit their feedback and any necessary approvals.” Taking a small jab at JPM Coin’s lack of progress, Shay concluded, “The difference is we are actually out there doing this.”
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If You Can’t Beat Them, Join Them: JP Morgan Creates Its JPM Cryptocurrency

TL; DR JP Morgan has created JPM Coin to settle transactions between clients of its wholesale payments business instantly. After initially criticizing Bitcoin, the companies have changed their opinion and is quickly embracing blockchain technology This is the first time a major US bank is creating its cryptocurrency, which will have ramifications for the entire banking industry.   JP Morgan, one of the world’s biggest banks, whose CEO Jamie Dimon once referred to Bitcoin as a “fraud” has now decided to get into the digital currency space by creating its currency which will be used to settle transactions between clients of its wholesale payments business instantly. JPM Coin will be the first digital currency created by a major US bank. It shows that Executives at the bank have made a complete 180 degrees on their opinions regarding crypto. Although Jamie Dimon did criticize Bitcoin in September 2017, calling it a “fraud that will eventually blow up,” he changed his opinion four months later, regretting having called Bitcoin a fraud and saying that “the blockchain is real”. We can only assume that he and other executives at the bank had done their research on the blockchain utility as a cheaper, faster and more secure alternative for settling payments between individuals and institutions within the bank. KYC costs for Banks make business highly inefficient Everybody is familiar with the perils of having to wait 3-5 business days to receive some funds sent from another country. This time delay is caused by the fact that all banks in the U.S. use the same clearinghouses for ACH (automatic clearing house) transactions, which is the Federal Reserve or EPN. The processing time is, therefore, the same for all banks. ACH operates as an overnight batch system, and functions only on business days, meaning if you send money to someone on Thursday through your Bank, they will have to wait until at least Monday or Tuesday before receiving the funds. Having a cryptocurrency that exists on a shared ledger means that the funds can be transferred and settled between parties on the same ledger within minutes or maximum a few hours. The costs of processing each transaction are significantly lower as well because the blockchain infrastructure ensures the transparency and security of the transaction, while also providing an immutable account of the amount sent and received. Additionally, it was reported that some major financial institutions spend up to $500 million annually on KYC processes and customer due-diligence, according to Thomson Reuters. These costs would significantly be reduced by having a shared ledger in which information relating to the identity of bank participants can be securely exchanged between banks and clearinghouses, removing the need for redundant ID verification processes. Just the beginning? JP Morgan embracing blockchain is ultimately great news for the adoption of blockchain technology. JP Morgan currently banks 80% of the Fortune 500 companies, which means that these companies can now also plug into their blockchain network and utilize JP Morgan coin to settle payments faster and cheaper. Once these major companies are on the blockchain, there’s no telling how much value it could create directly or indirectly for Bitcoin and the rest of the cryptocurrencies.   The post If You Can’t Beat Them, Join Them: JP Morgan Creates Its JPM Cryptocurrency appeared first on CryptoPotato.

NiceHash to Smaller Cryptocurrency Miners : If You Can’t Beat 51% Attackers Who Lease Our Hash Power, Join Them

‣Reddit user says a single wallet on NiceHash controls 51%+ of the hashrate of Dash ‣NiceHash responds: Lease more hash power from us to shore up against a 51% attack ‣You could also shore up with used ASIC miners for a bargain discount these days ‣NiceHash could make it impossible for hashrate buyers to coordinate an attack ‣Or, you could be the next one to join the bank run on your small alt coin and hodl btc Earlier in January on, a user by the name of /u/Flenst pointed out that Slovenian hash power broker NiceHash is powering over The post NiceHash to Smaller Cryptocurrency Miners : If You Can’t Beat 51% Attackers Who Lease Our Hash Power, Join Them appeared first on CCN

Matt Ahlborg’s New Crypto Research: Venezuela’s Bitcoin Trading Volume Beat India And Canada Together

There is every indication that the blockchain is seen as a legitimate technology, even by its detractors, to resolve a host of issues prevalent in today's financial system. A fact well understood, particularly by those in economies that are otherwise struggling. Unsurprisingly, people in such countries are looking for an alternate than their local fiat currency. Now a data scientist, Matt Ahborg, has found some interesting statistics in his inquiry. High Trading Costs: Still Not A Distraction Limiting himself to just one exchange, for clarity, he says LocalBitcoins charges a higher rate compared to others. Yet it is one of the few that only offers Bitcoin to fiat pairs, in fact it offers pairs with over 150 currencies. While buying and selling it both less profitable and more complex, it is a logical solution where centralized services is not an option. Addressing this point the researcher says, “The first reason I chose LBC is because, unlike other low or no fee, frictionless exchanges, trading Bitcoin through LBC is costly.” He then goes on to say, “Unlike other exchanges which post large crypto-to-crypto volumes, trading volume on LBC is almost exclusively fiat-to-crypto.” Numbers: Unrepentant Truth Sayers The study, unique in its depth and scope, finds data for crypto penetration in a host of nations. It also uses a new metric, devised by Ahborg, to help better understand the dataset; he calls it “Usage per (Online) Economic-Person.” The detailed work looks into a host of points which cropped up. The most startling fact that was uncovered was the unparalleled Bitcoin trading occurring in the hyper-inflated economy of Venezuela. It was noted that the country actually did more P2P Bitcoin trading than economies such as Australia, Canada and India, combined. This becomes all the more impressive when one notes that the struggling South American nation clocked nearly $250 million worth of trades; for comparison, the United States, which is arguably the largest economy, traded about $370 million worth.While it surprised a few, most commentators are excited by this. It clearly indicates that $5 billion parallel economy is in fact achieving the penetration into less developed regions. Another interesting facet of world economy was that the international sanctions against Russia coupled with the nations uncertain regulatory framework has driven a lot of people to acquire and trade their Bitcoin using LocalBitcoins. Despite all the hurdles Russian account's amounted to total transactions worth in excess of $750 million. Unique Situations Demand Unique Metrics The world has never seen such an interconnected and interdependent economy. As mentioned before, Ahlborg has also gone ahead with his research and devised a metric, Usage Per (Online) Economic Person.This takes into account internet connectivity in a given country, Bitcoin traded, and the country’s economic freedom score. Discussing the importance of economic freedom in a country, he says, “Countries low in economic freedom and low in UP(O)EP like Iran and Bangladesh only recently started trading.” Even so, countries with high economic freedom don't automatically have higher trade volumes, as exemplified by Britain and New Zealand. The research also indicates that economies burdened by mismanagement find a way to smother transactions. The advent of the blockchain has provided a host of options. One such is Paxful where trading is primarily done in BTC/iTunes Gift Card pairs. LocalBitcoins and Paxful are shining examples of Bitcoin trading sans a centralized exchange. In his final analysis Ahlborg point out, “Nearly six years of aggregate data paint the picture that Bitcoin has utility and that its promise is beginning to be realised for the types of people Satoshi said it would.” While far from ideal, the investigating article sheds light on the positive effect blockchain has had on the world. To afford power to the millions who lack access to traditional bank accounts is indeed both heart-warming and humbling. One can only hope that this is the beginning of the story and the industry continues to make giant strides.
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Is Billionaire Michael Bloomberg Really the Democrats’ Best Chance to Beat Trump in 2020?

Steven Rattner, a major Democratic donor, told Yahoo! Finance in a recent interview for the website’s “Influencers with Andy Serwer” podcast that he thinks billionaire former New York City Mayor Michael Bloomberg could “absolutely” defeat Donald Trump in the 2020 U.S. presidential election as the Democratic nominee. Rattner, whose net worth is in the hundreds of millions of dollars according to public disclosures, is an investment financier who manages Michael Bloomberg’s personal and charitable wealth assets as the CEO of Willett Advisors LLC.  He got his start in finance as a journalist reporting on business and economics for the The post Is Billionaire Michael Bloomberg Really the Democrats’ Best Chance to Beat Trump in 2020? appeared first on CCN

Beat the Boss — Nian’s Treasure Trove

Beat the Boss — Nian’s Treasure TroveWhat an incredible twist! Nian is none other than our very own Agent Aelfonzo! He had planned this whole thing in order to train you, Agents of A.E.L.F. for a special new mission he is organizing in the near future!Aelfonzo wants to reward some of you Agents for your efforts and has created a final puzzle with LOADS of rewards!!OVER 1,000 ELF worth of PRIZES to be won!!!That’s right, OVER 1,000 ELF!Are you going to be one of those rewarded?Beat the Boss — Nian’s Treasure Trove was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Beat the Boss Game Series (LIVE)

Over the last 3 months we have been running a community event series called‘Beat the Boss’.The event has been run using multiple platforms including telegram, reddit, medium, twitter and youtube. The events are comprised of two components, mini puzzles and Boss trivia. The mini puzzles are used to release intel and rewards, and the Boss trivia are where we battle the bosses with larger rewards.Below you will find all content in chronological order up to date.CURRENT PUZZLE: Sing me your favourite song? — Puzzle 2.7UPDATE: CLUE: use this with puzzle 2.7AGENTS OF AELFAelf was founded a year ago, when ‘Seed 3.0’ (Seed3P0), the seed for blockchain 3.0, was discovered by the aelf founders. Since then the core aelf team has been cultivating this seed to bring it into blossom. Many have thought to have discovered this seed, only to find they had a mutation of the outdated blockchain 2.0. But we believe we have discovered the true seed. Since word broke into the public realm that the true seed was being cultivated, the rumors spread like wildfire, ranging from the seed is a person, to the seed is the Holy Grail and will give immortality to those who possess it. As a result of these over-glorified rumors, many are the enemies of aelf who would seek to possess ‘Seed3.0’ by any means necessary.​And thus, Agents of A.E.L.F. was formed.​You, our newest recruits, have joined the ranks of agents sworn to protect ‘Seed3.0’ and the aelf network which is being created to cultivate the seed.Agents of aelf operates on a global scale and has operatives on every continent of the world. We are a proactive agency, we are a powerful agency, a force to be reckoned with. We not only defend aelf and the seed, but we act upon Intel to pre-emptively strike those who would seek the seed for their own gain.​This technology cannot fall into the wrong hands, it is powerful beyond belief and could be the most destructive force this world has seen if it is used by those driven by greed and self-importance. The aelf ecosystem has almost been completed and the cultivation of Seed 3.0 finished, in only a few short months our job will be complete and the seed will have blossomed into a self-sustaining ecosystem, not even the strongest foe could stop. It will bring blockchain 3.0 to the world and humanity will be able to once again, rest easy.IMPORTANTYou’re Role: Active Agent​As an Agent in the field, you will be tasked with assignments to complete which will not only protect the seed and aelf, but the wider public. You must take this responsibility seriously, mistakes will not be tolerated. We will provide any support needed in any way we can. HQ will be a place you can always come to for help and advice. You will always be equipped with the tools you need to complete your mission.Locations: Where to goAELF HQAlthough you, our agents, are spread throughout the globe, HQ will always be available to you. It will never be more than a click away and is open day or night. Should you require assistance, this should be your first port of call.​AELF DISCUSSION DEVICE (ADD)Agents of aelf will each be given a special device in which they can contact other agents as well as the elite guard known as ‘The MODs’. Here you may converse with others for the benefit of all. There may be times in which vital clues are shared in this space so make sure you actively monitor all activity here.​Tools​Battlegrounds may vary greatly depending on the enemy, task assigned, or tools on hand. We have found that there are often specific locations in which you will find helpful tools or information in these battles:AELF LIBRARYHere you will find texts from the aelf core team all the way back to the ancient firstlings, who cultivated the first ‘Seed1.0’, dubbed Bitcoin. These texts you will find the clues needed to beat any adversary you may meet.AELF MESSAGE BOARD As news develops, or new information is discovered, you will first hear about it on the aelf message board. This is a public board posted out the front of the aelf building. Due to the sensitive nature of some of these assignments, you may need to decipher some of the clues as they could be shared cryptically.AELF’S POOL OF IMAGERYThe pool is located in the park across the street. Don’t stress if you think you may be on the wrong street. The magic of this pool is that if you are an agent of aelf, it will always be across the street no matter where you are. On the surface the pool likes like any other imagery pool with exciting images, but the deeper you look the more insight you will find. Deep within this pool you will find visual gems that will be invaluable to you on your missions. Make sure you take some time to delve into this pool on occasion.THE AELF BOOK WITH NO NAME, BUT MANY FACESThis book is something every agent has, in it you will find blank pages. Blank, until there is information you will need to be aware of, then it will be written in these pages for your quick reference. Locations, times, and names are just a few of the key pieces of information that you might find appearing on some of these mystical pages.LootAs you venture on these quests there will no doubt be valuables that appear before you. Aelf has no interest in these and as long as they do not interfere with the mission at hand, you may keep any rewards that come your way. They will need to be declared to HQ though, as these can often be used to track the success of a particular mission.​Good luck… AgentSeries 0(OCT 12) Boss 1 Bio — Mappo — This was a test to all our agents to ensure you were up to standard, capable of defeating any villian that attempts to mess the A.E.L.F. and our Agents.(OCT 26) Boss 2 Bio — Dr. Julian Choo — Dr Julian Choo’s searching over the last 4 years has led him to aelf. Aelf holds the most pure and original source of the Merkle Tree Root, held in the Main Safe in the the underground lab, it must be protected at all costs!In our scouting report we have found that Dr. Choo’s bane is trivia. We have developed a defense system using trivia but we need all hands on deck to man it and ensure Dr. Choo doesn’t break through. If the Dr. obtains the Merkle Tree Root, all blockchain technology as we know it will cease to exist.(NOV 8) Boss 3 Bio — General Moud — General Moud has developed a sinister scheme which requires Seed3.0 (the source of blockchain 3.0, currently held by aelf) as the final component. When news of its discovery made its way into his ears while in the USA, all other priorities ceased to exist and this was his sole purpose from here on.Now he has arrived at aelf and is using his army to break down our front doors. As potential Agents of aelf, you are tasked with stopping him by any means necessary. He thinks he is knowledgeable with all his study, but we shall use that knowledge to his disadvantage with our Trivia Defense System (TDS)!(NOV 22) Special Thanksgiving Boss 4 — Diesel the Turkey — Using the phone directory, the first company on the list was, of course…AAA Car repairs (you thought I was going to say aelf didn’t you!). Well, this was short work, and with some brute force and an eraser, he removed their name from history (and the phone book). And so he traveled the world on his crusade until his twisted turkey brain brought him to aelf HQ.Series 1*RED ALERT RED ALERT*A security breach has been detected at aelf HQ!!!! All further intel will be provided in an encrypted format.First Communication — Puzzle 1.1Agent Aelfonzo Update — Puzzle 1.2Agent Aelfonzo Missing In Action (MIA) — Puzzle 1.3(DEC 7) Boss 5 Bio — Miss Ashley Morgan — (see above puzzles)Miss Ashley Morgan’s Mystery Case (MAJOR PRIZE) — Puzzle 1.4Series 2Inside Miss Morgan’s case we have discovered a special document which has led us to believe Nian and his villians were involved in the kidnapping of Agent AelfonzoTypewriter Test — Puzzle 2.1Nian’s 2nd in Command — Puzzle 2.2(JAN 18) Boss 6 Bio — Rěnzhě bǎobèi — (See above puzzles)Series 3After capturing Rěnzhě bǎobèi and some serious interrogation we managed to glean some crucial intel.Interrogation Board — Puzzle 2.3Which location next? — Puzzle 2.4Nian’s crossword — puzzle 2.5What’s Wrong With the Whitepaper? — Puzzle 2.6Beat the Boss Game Series (LIVE) was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

If You Can’t Beat Em, Join Em???

With the announcement that Bittrex has joined Kraken, Coinbase, itBit and other exchanges by offering an OTC trading desk, it seems that most exchanges have decided that OTC trading is their best chance to grow their business. This comes amidst a backdrop of OTC desks out-competing the exchanges for market share, particularly for large traders, according to many published reports.To achieve a dominant market share, however, the exchanges must earn the trust of investors in the fundamental fairness of the market. Public order books that facilitate price discovery should have a unique and important place in establishing that trust. Unfortunately, the current fragmented exchange landscape is hard for many investors to navigate . Large investors have issues with the lack of credit lines at exchanges (while OTC desks provide them) and the difficulty of moving assets between them, partially due to artificial barriers created by the exchanges themselves. These barriers, stem from the individualistic culture of cypherpunk and Silicon Valley that gave rise to crypto.It is quite ironic, but the crypto community should learn about cooperation from Wall Street, which, despite a public perception of embodying unfettered, “bare knuckle” capitalism, has a culture of cooperative endeavors. Unlike Silicon Valley, which tends to operate on the principle of one of my favorite movies, The Highlander (“There can be only ONE”), Wall Street is based on shared business practices. Whether it was the original “members only” exchange (NYSE), the largest self regulatory members organization (FINRA), widespread adoption of multi-broker trading platforms or the FIX protocol that facilitated that, or standards for derivatives documentation accepted by all, cooperation is entrenched. Crypto exchanges, for the most part, however, refuse to cooperate with each other, making it hard for clients to navigate the fragmented marketplace. Individual exchanges should work together to promote best execution, manipulation surveillance, credit lines &amp; clearing, all of which would help mainstream investors gain needed trust in the system.Getting back to the examples cited in the opening, those exchanges that are trying to compete with OTC markets face two divergent paths:Exchanges could attempt to compete with the OTC market by offering such services directly, on their own, orExchanges could strengthen online price discovery by cooperation. This could entail setting up or empowering intermediaries with electronic agent functionality with smart order routing and pan-exchange algorithmic trading that focuses on best execution.Path 1: Establish Independent OTC Desks Without Cooperating with Exchange CompetitorsThere are three problems with this “lone wolf” OTC Desk approach. First, there are inherent differences between exchanges and trading desks. Each occupies a particular niche within the ecosystem of the market. Exchanges, OTC market makers, proprietary trading desks and agency brokers all have important roles, but there are reasons why they are separate businesses in most asset classes. Second, single exchange OTC desks lack connectivity to other exchanges. This hobbles the capabilities of such desks, meaning they are unlikely to perform well vis a vis independent desks. Third, the establishment of OTC desks risks harming confidence in the neutrality of exchanges, damaging the integrity of those markets. Each of these will be discussed in turn.The primary function of exchanges is to provide price discovery, via accessible public order books. Investors enter orders to exchanges, where those orders can interact, match and execute continuously. This function requires that exchanges be neutral with regard to their clients, so that all participants are confident that the market is fair. Client information beyond what is displayed in the order book must remain confidential, while access to order data and the matching engine should be managed according to well understood rules. The exchange itself should have no vested interest in the movement of the asset prices they trade, in order to ensure these conditions.OTC desks, however, are quite different. They provide immediate liquidity to their clients, using their own capital and trading inventory, or, sometimes, by finding another client to match against. OTC desks are the very opposite of neutral, as, in most cases, they profit by trading against their clients. This is not a bad thing, as OTC market makers provide necessary liquidity for clients that need it, but it is important to understand the distinction. While, in some markets, particularly where regulations govern order handling, clients trust market makers with their orders, in most cases, there is significant distrust. Market makers provide accessible quotes, sometimes on their own dedicated trading platforms. They also trade directly on exchanges, quite often being the most active traders on the exchanges. What they rarely do, however, is provide a neutral platform for handling orders and when they do, those systems are walled off from the market making function.The best way to understand this is was from a conversation I had with the head of electronic trading at a major investment bank that also, as most do, offers OTC trading. We were discussing the importance of third party verification of the (equity market) execution quality they provided to clients and I commented that his pristine reputation should have made verification less important. With a smile, he turned to me and said: “Thanks for the compliment, but (considering my firm’s business) my pristine reputation means that the buy side only thinks I am half full of shit..”The upshot is that, in equity markets as an example, the majority of trading takes place on the public order books of exchanges, while OTC desks are an important supplemental method, used when the liquidity on exchanges is insufficient for client’s immediate needs. Much of the trading on exchange, however, is done via pan-exchange algorithmic methods and smart routing. It is exceptionally rare that any serious trader utilizes a single exchange for all their trading and it is likely that they would be judged to be failing their best execution obligations if they did so.In crypto, however, much exchange trading is done via single exchange interfaces, despite the obvious fact that, quite often, the exchange of choice does not have the best price. People justify this by pointing to the fact that crypto exchanges provide custodial functions for their clients which make it hard to trade across platforms. There is some truth to this, but it is certainly possible to manage multiple exchange wallets and trade across them with systems like that provided by CoinRoutes.The second problem with the exchange OTC strategy is access to other exchanges. In order to have a truly competitive trading desk, that desk needs access to as much liquidity as possible, yet getting such access will require allowing their competitors the same thing. This gets back to the cultural issue described above. The bottom line is that today’s leading exchanges face a crossroads: if they insist on going it alone, they risk losing what they have, if their peers and new entrants establish a working ecosystem without them.The third, and perhaps most important issue is that the exchange OTC desks could undermine confidence in the exchange itself, rendering such an initiative counterproductive. This could occur if there was a perception that the exchange OTC desk has access to more information or has superior access to trading on their own exchange than anyone else. Here is a simple example:The public data feed of the exchange shows 100 Bitcoin was sold by a single order, but nothing else about the seller was publicly known.The Exchange OTC desk had access to wallet information and, therefore, knew that the seller had transferred 5000 Bitcoin to their exchange wallet earlier that day and had already sold a few hundred Bitcoin before the most recent order.That desk would have inside information that there was over 4500 Bitcoin likely to be sold in the short term, which is a large advantage.There are other examples, of course, including faster connection abilities, potential for preferential priority within the exchange, etc. The point is that, in the absence of third party verification, it is hard to build trust in such an environment.Path 2: Establish Inter-Exchange CooperationThis path starts with a willingness of the top exchanges to work together and establish ground-rules for that interaction. In addition to agreement on standards for trade surveillance and allowing accounts for agents of competing exchanges, it would include cooperation on self-regulation. In such a world, exchanges would still compete on market structure, order types and pricing, and product offerings for different product niches.In this world, exchanges could also establish OTC desks, but would, more likely establish or work with agency oriented intermediaries, both electronic and high touch. Exchanges could offer algorithmic trading solutions that might prioritize their own books, but do not ignore their competitors prices. Their goal would be to attract as much order flow as possible to their displayed order books, rather than trade everything on an opaque, OTC basis. In this path, even if exchanges create OTC desks, cooperation would bolster the effort, as it would ensure more available liquidity.It is also worth noting that the “clock is ticking.” In addition to the potential for regulators to insist on a more modern market structure directly, there are implications to the current flawed market structure. Chief among them, is the fact that the SEC has expressed their dissatisfaction with the lack of broad price discovery and potential for manipulation by rejecting all of the Bitcoin ETF applications to date. In addition, new entrants joining the fray seem to understand concepts such as best execution and likely won’t hesitate to embrace them. The leadership of the incumbent exchanges should consider this. After all, by their own admission, they are losing the battle for “institutional” wallets to OTC trading already, these new threats are emerging to their existing business. In our opinion, the leading exchanges would be better served by working with solution providers such as CoinRoutes (which can facilitate cooperation via consolidated data and pan-exchange trading algorithms) than by a lone wolf strategy. Only time will tell what path they choose.If You Can’t Beat Em, Join Em??? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Deutsche Boerse to beat 2018 adjusted guidance

Deutsche Boerse AG (DB1.XE) said late Tuesday that its 2018 adjusted net profit will significantly exceed guidance, after consolidating preliminary results for the year. The company now expects adjusted net profit growth of about 17% in 2018, compared with guidance of 10%. Full-year results will be presented on Feb.
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XRP, BAT and Dash are The Favorite Cryptos Among Uphold Users

A recent report published by Uphold revealed that the most popular tokens among its users are XRP, BAT, and DASH. The investment in these cryptocurrencies has increased considerably during the period from January 2018 to January 2019. According to information from AMB Crypto, Uphold reported that despite the sharp drop in the prices of cryptocurrencies, its user base reached record stats: Not only did they increase their userbase to more than 1 million registered users, but the number of funded wallets and transactions also grew by more than 2X compared to last year. The Uphold team revealed that altcoins played a special role in the growth of its platform. Dash had the highest increase, followed by Basic Attention Token and Ethereum. However other tokens such as BTC, LTC, and BTG also reported significant growth despite the negative performance of the markets: Holdings of all currencies increased materially over the period, but DASH and BAT were the 2018 standouts (up 281% and 183% respectively). Uphold also saw good growth in holdings of ETH (up 70%), BTG (up 54%), BTC (up 41%) and LTC (up 24%) Uphold Explains The Reasons Behind The Popularity of Every Token According to the firm’s analysis. The growth rate of BTC, LTC, and ETH was lower than last year. Apparently, the public lost interest in these cryptocurrencies to focus on other more attractive alts such as XRP, which grew from 0 to 39% from March 2018 to January 2019. Uphold Interface The growing interest in XRP is consistent with the intense media presence that Ripple has had in the community over the past few months. The launch of xRapid and the numerous partnerships with essential players in the world of finance increased the trading of this cryptocurrency which eventually reached number 2 in the global market cap. Something similar happened with Basic Attention Token. The cryptocurrency is strongly pushed by Brave browser. The popularity of the browser and the positive rating of several specialized sites, as well as the launch of BAT trading in Coinbase Pro, were critical for the token to become one of the favorites among Uphold users. Uphold finally attributed DASH’s growth to a successful campaign in which they made their philosophy have an important influence on the community. “DASH represents itself as digital money which can be used to make instant, private payments online or in-store using its secure, open-source platform hosted by thousands of users around the world.” The post XRP, BAT and Dash are The Favorite Cryptos Among Uphold Users appeared first on Ethereum World News.
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New Shapeshift Crypto Exchange Rebrand Plans Announced by CEO Erik Voorhees at ETHDenver

At the recently held ETHDenver, ShapeShift CEO Erik Vorhees announced that his company would be undergoing a major rebranding exercise in 2019. The first step in this will take place on Monday, February 17, 2019. During this time, the exchange will begin holding a closed beta programme where selected users will be invited to test out a new and improved version of Shapeshift. The new version, Vorhees says, will focus on improving on the user experience. These improvements will include making the user interface simpler and synchronizing the use of all the exchange’s products including its cryptocurrency pricing tracker CoinCap. This Information was made available by the CMO of ShapeShift Emily Coleman. Besides making this announcement, Vorhees also spoke at a panel focused on leadership “in times of ambiguity.” In this panel, he was joined by founder of cryptocurrency micropayments service Lily Liu, CSO of ethereum venture capital studio ConsenSys Sam Cassatt, and co-founder of decentralized application platform Holochain Arthur Brock. Tough Calls As part of the discussion, the panelists were asked what the hardest decision was that they have had to make in the running of the business. “If you’re going to be a company in the crypto industry, you’re attached to the severe market cycles of the industry. That’s full of good and bad,” said Voorhees. Vorhees, on his part, said that the hardest decision he had had to make was the introduction of know-your-customer protocols on the exchange last year. “I felt like I had to do something morally wrong to allow the company to persist…It’s a really awful position to be in,” said Voorhees. According to Vorhees, the decision was a hard one because he was personally against the idea of asking users to give up their personal information. He eventually conceded to the decision as a form of picking and choosing his battles and considering the long-term implications. Despite the tough decision that was made, Vorhees is still confident that, in the future, people will be able to carry out transactions in a completely decentralized manner and without any censorship or interference. “Society is comfortable about this idea that people should be able to talk freely with each other … the fact that money is treated differently is a huge injustice. I hope that crypto breaks that discrepancy,” he said. Despite the CEO’s optimism, the company has faced some challenges in recent times, especially with having to lay off a third of its staff due to the crypto price slump.
Bitcoin Exchange Guide

Federal Judge in Crypto Proceeding Re-examines Blockvest (BLV Token) Case

In November of 2018, a California federal judge refused to approve a preliminary injunction as was requested at the time because there were a few inquiries and it was yet to be determined if, based on the Howey Test, the token in the case was a security. However, the same judge seemed to have re-assessed the situation and has made the decision to grant a motion the SEC’s requested, for Partial Reconsideration. Details of the Case The SEC, at the time, had charged a few offenders on account of transacting business involving sales of securities that were unapproved and not registered. The tokens, called BLV tokens, were defended by their stakeholders with the claim that they had been pre-approved by the CFTC, the National Futures Association and even the SEC. The accused also claimed on their website, that they had received approval from an agency called the “BEC”, although that seemed to have been fabricated. The Re-Assessment Generally, it almost never happens that during a prosecution, a federal judge will have a change of mind. This only happens when a motion for re-examination has been put forward. However, when a case has new evidence or laws have been changed or wrongly applied, a judge could consider a change of mind. The judge has now decided that the information on the accused’s website contained offers for transacting in unapproved tokens and this still holds water whether or not a transaction was completed. The Howey test is a divided into three parts and all three were violated. The accused expressed their opinion that an injunction is too much of a response from the courts especially because some progress had been made regarding admittance of guilt, an addition of a proper counsel to the team and the decision for these people not to do an ICO. However, the court did not agree especially because of the made up agency – BEC – and many other different falsities. The court also considered the possibility that the accused might not discontinue all the wrongdoings. Reactions to the case and the court rulings have been polar with some proclaiming it as appropriate while other have expressed that it might be an overreaction.
Bitcoin Exchange Guide

Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum

Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum Argentina has recently settled an export deal with Paraguay in Bitcoin. Although the net value of the deal was only $7,100, it is a welcome step. Gradually, more countries will recognize the advantage of using cryptocurrencies for cross-border deals. Digital asset management fund Grayscale […] Cet article Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum est apparu en premier sur Bitcoin Central.
Bitcoin Central
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