Alexis Ohanian news

Co-founder and executive chairman of Reddit

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Crypto Enthusiast, Alexis Ohanian of Reddit, Leads $3.75 Million Round in Horizon Games

Horizon Games on July 17 revealed that Alexis Ohanian, the co-founder of Reddit and husband of lawn tennis great Serena Williams is leading the raise of $3.75 million in seed funding to take on ‘’Magic: The Gathering’’ and Hearthstone.’’ The funding is also getting high-level support from some of the biggest names in the industry, […]
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Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian

Alexis Ohanian, the founder of Reddit and Managing Partner at Initialized Capital hailed the cryptocurrency industry, stating that the “nascent” industry is still growing despite the prolonged “crypto-winter.” In an interview with Yahoo Finance, Ohanian discussed Reddit’s ongoing development, censorship within social media websites, regulation of the internet and the volatile cryptocurrency market. The interviewer, Yahoo Finance’s Andy Serwer described Ohanian as a “firm believer” in cryptocurrencies. Since the collective market cap touched $800 billion, marking the conclusion of the crypto-boom, the market has suffered under the bears. Its collective market cap has fallen to its present value of $134 billion. Acknowledging the “crypto-winter,” Ohanian said, “This is the crypto-winter, no doubt.” Ohanian referenced Coinbase’s Brian Armstrong, who said that the current market sentiments are the “spring of crypto innovations.” With this statement, Armstrong meant to suggest that the price depression weeded out investors and speculators, the ones that were in the market to make a ‘quick buck.’ According to him, the ones remaining are the “true believers.” These believers are the ones that will build the infrastructure for this industry, Armstrong said. While agreeing with Armstrong, Ohanian said, “They are actually builders, they are actually building the infrastructure that is going to take to really make this happen.” Despite some reservations about the industry,  Ohanian stated that these problems will be solved by the people that remain after the prices have declined. “Some of the smartest people I know in tech are working on solving these problems, they’re building companies that are built on the blockchain. The hype is gone, the fervor is gone, but I think that’s a good thing.” Ohanian is a long-time supporter of the cryptocurrency community, investing in Coinbase through Initialized Capital back in 2011. The Reddit founder added that he was willing to bide his time and allow the virtual currency industry to grow. He said, “We’re very comfortable having a long world-view on it, because this kind of an infrastructure shift will take lots of time, and we knew that going into it.” JP Morgan’s surprising entrance into the cryptocurrency realm with their dollar-backed, “JPM Coin,” was also mentioned by Ohanian. He added that Morgan’s CEO Jamie Dimon’s complete U-Turn from calling Bitcoin [BTC] a “scam,” to launching a digital asset was a sign of things to come. He stated, “These are just more indications that there is real innovation that is happening, now that all the wild speculation is gone.” Ohanian closed by offering a piece of advice to investors in the “nascent” cryptocurrency industry, “If you’re investing in it (cryptocurrencies) in the first place, you really should’ve been thinking long term.” Earlier in 2018, the Reddit founder had made a bold price prediction, stating that Bitcoin would reach $20,000 while Ethereum [ETH] would trade at $15,000 by the end of the year. However, the dawn of the crypto-winter proved him wrong. The post Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian appeared first on AMBCrypto.
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Brutal Bitcoin Winter is Great for Crypto Industry: Reddit Founder Alexis Ohanian

Bitcoin investors should not be discouraged by the brutal Crypto Winter because the mass purge is actually good for the long-term health of the industry. That’s the observation of Coinbase investor Alexis Ohanian, better known as the founder of social media network Reddit. ‘This Is the Spring of Crypto Innovation’ Ohanian — the husband of American tennis star Serena Williams — admits that bitcoin is experiencing a prolonged market slump. However, despite the Crypto Winter, he says now is actually the “spring of crypto innovation.” Why? Because the people that remain in the industry after the market crash are die-hard enthusiasts, The post Brutal Bitcoin Winter is Great for Crypto Industry: Reddit Founder Alexis Ohanian appeared first on CCN
CCN

Reddit’s Alexis Ohanian Believes Blockchain Gaming is the Next Big Use Case Application for DLT

Alex Ohanian is the co-founder of Reddit. He also happens to co-own Cloud 9, which is amongst the most valuable esports teams globally. He has a strong belief that gaming powered by the blockchain will be huge. He shared his thoughts recently in a tweet while sharing an article by the co-founder of Horizon Blockchain Games Peter Kieltyka. This is gonna be big.A New Dimension of Gaming by @peterk https://t.co/EQCHCw1pzq — Alexis Ohanian Sr. (@alexisohanian) November 29, 2018 It is the first time a major backer of esports has publicly said that blockchain gaming would be huge. Ohanian made an investment into the Series A round for Cloud9. The round also saw Joe Montana, the Hall of Fame quarterback and outfielder Hunter Pence, both from the San Francisco Giants. What The Article Had To Say Kieltyka broke down the value proposition of bringing blockchain tech into the video game world. He talked about true digital asset ownership, mass collaboration, provable fairness, interoperability, and play to earn gaming. Here is a bit more detail on these concepts: • True Digital Ownership With the blockchain, it is possible to create a world where players have full ownership of each card, coin, and collectible even when they leave the original game. The digital assets can be placed in a digital wallet, which will give players full control over them. This could lead to a world of interoperability in gaming besides the major economic potential. Players will be able to buy and sell their assets when and how they want. • Provable Fairness By its nature, the decentralized world is immune to malicious players. Those who use them consider DApps trustless. This is because each DApp is self-governing. This helps to ensure that the rules are open to all. It is impossible to forge a move with the blockchain, which will ensure provable fairness to gaming. • Play To Earn With smart contracts, players can take part in games where they earn assets, which they can then sell for crypto or fiat. • Interoperable Economies The blockchain makes it possible to create a standardized economy where apps can build a network of goods, rewards, and players. Thus, players are able to move between the gaming economies with few issues. The in-game items are tokenized items that can be traded or converted for another crypto. In essence, the entire gaming world could be connected by the blockchain. • Mass Collaboration The value of the blockchain games is at the protocol level. These games will be open source with the value being in the in-game items. This will allow players to modify games in new and interesting ways. What Those In The eSports World Feel While there is a lot of enthusiasm in the crypto world about the potential that blockchain tech hold for gaming, those in the esports world are skeptical. They do not believe that it has any potential. In fact, many think it is merely a money grabbing scam. Only time can tell if the goals of many blockchain gaming organizations will go mainstream. Despite this, they have at least begun the conversation of in-game assets and their true ownership.
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Does Bitcoin And Crypto Market Need To Crash To Get Better? Reddit’s Alexis Ohanian Thinks So

Critics and experts of cryptocurrency alike have their ideas about what could make the market work in their favor. However, Reddit founder Alexis Ohanian recently was interviewed by CNBC, saying that he does not see the market reaching greater maturity and stabilization without having a crash. This coincides with the seemingly continued crash that the market has gone through in the last few days. To create a stronger future for cryptocurrency as a whole, the founder believes that software development and a more supportive infrastructure are key. Furthermore, by allowing the market to reach a crashing point, he believes that the weaker tokens would filter out, like the ones that are in for a fast buck. The innovations of the community right now are making it possible for the cryptocurrency community to survive for the long-term. Even though the blockchain technology proposals have not been as big in quantity, Ohanian believes that they have a greater likelihood of success than the projects that came around last year. Bitcoin has been going through some troubles in the last few days, bringing in the biggest losses since March 2018. However, despite coming down to $5,202 on November 15th, the trading seems to have picked up slightly. According to CoinMarketCap at 10:15am PST, the current price of Bitcoin is $5,532.24, though some investors believe that this downturn has to do with the recent BCH fork, like Brian Kelly. Kelly is the founder and CEO of BKCM. Others are as bold as to suggest that they saw this coming all along, like Mati Greenspan from eToro. Greenspan said, “The movement we saw today seemed to be the run-of-the-mill volatility surrounding Bitcoin and a breakout that’s been weeks coming….It’s difficult to say where it ends. No one can really predict.” Clem Chambers, a Forbes contributor, also noticed the connection with the spike in bonds lately. He commented, “The obvious culprit causing this dump is Bitcoin Cash, the ‘wannabe’ Bitcoin usurper, which forked from Bitcoin last year. It is forking again and there are competing forks and all sorts of conniptions are expected. It sounds plausible this is causing the move but the fact the bond market spiked at the same time suggests something else is going on to me.” The head of trading at Asia Pacific of Oanda Corporation, Stephen Innes, said the crash was worse than originally anticipated. It is clear that the uncertainty of which Bitcoin chain will take the dominant role has shaken up the cryptocurrency community. Still, Ohanian believes that this is just a necessary step to bring the focus to what is important.
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Bakkt Official Launch Date, Ethereum Upgrade, Coinbase Bank & Is Everyone Ready?

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CME Futures CRUSHED Bitcoin... Will Bakkt do the Opposite?

👇🏻Support the channel by using my affiliate links👇🏻 ✘ Exchanges I'm using: ► Coinbase FIAT https://www.coinbase.com/join/59398125002bcc03276297d6 ► Binance FIAT https://www.binance.je/?ref=35002320 ► Binance Altcoins https://www.binance.com/?ref=16553332 ► Bitmex Futures https://www.bitmex.com/register/s0r1z5 ► Bybit Futures https://www.bybit.com/app/register?ref=RPyME ► Deribit Futures & Options https://www.deribit.com/reg-2331.1757 ✘ My Chart Tool: ► TradingView https://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=12339 ✘ My Hardware Wallets: ► Ledger https://www.ledgerwallet.com/r/f7c4 ► Trezor https://shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=1164 ✘ Keep your Private Keys safe: ► https://cryptosteel.com/product/cryptosteel/?csr=517 ✘ Support the Channel via BTC Lightning Network: ► https://tippin.me/@sunnydecree ✘ BTC: ► 12vg29zgveAqm31yiUrL9kM2ANmYMFaA93 ✘ Follow me: ► https://twitter.com/sunnydecree ► https://discord.gg/Psrt8Yn ► https://www.youtube.com/sunnydecreede #Bitcoin #BTC #Crypto
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Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders

Yesterday’s big announcement that regulatory approval has been granted to Bakkt could be the best news bitcoin investors have had this year. It opens the door to the institutional investors and is a huge step forward for crypto industry legitimization in the US. Bakkt To Launch Next Month After months of procrastination, the new cryptocurrency trading platform launched by the Intercontinental Exchange (ICE) has finally been given the green light. The news that the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services, has granted regulatory approval broke late yesterday as reported by Bitcoinist. The concept of physically delivered bitcoin futures will require investors to either produce actual BTC or take delivery in them from their respective exchanges and platforms. Crypto trader at TexasWest Capital, Scott Melker, who also goes by the twitter handle ‘Wolf of All Streets’ stated the news was ‘arguably the most bullish event for institutional investors in the history of bitcoin’. The @Bakkt news is arguably the most bullish event for institutional investors in the history of bitcoin. PHYSICALLY delivered futures (require the holder to either produce actual bitcoin or take delivery from the exchange) backed by the New York Stock Exchange. We are maturing. — The Wolf Of All Streets (@scottmelker) August 16, 2019 Being backed by the New York Stock Exchange has granted bitcoin a level of legitimization never seen before. Investors will get the opportunity to trade in daily and monthly physical bitcoin futures contracts which is likely to lead to greater mainstream adoption. Bakkt is also planning to onboard a number of commercial retailers such as Starbucks which will provide an easier way for people to make purchases using bitcoin and other crypto assets. General Counsel for Compound Finance, Jake Chervinsky, was equally bullish on the Bakkt news stating that: “It offers a way for large, risk-averse institutions to buy and custody bitcoin through an end-to-end regulated system approved by the CFTC and NYDFS, and backed by the sterling reputation of ICE. Compliance lawyers rejoice!” The former litigator also noted that there is still a long way to go since there is still the SEC to contend with. When questioned on the possibility of big investors trying to short bitcoin he added; “Short sellers betting against a commodity probably don’t want to hold the underlying, so shorting via physically-delivered futures is more for entities that are net long (like miners) and want to hedge.” Fintech Business Analyst going by the twitter handle ‘Mr. Gordon’ was equally bullish on Bakkt; “This must be what it feels like to win the lottery!  The confirmation of the launch of #Bakkt changes EVERYTHING… Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make…” This must be what it feels like to win the lottery! The confirmation of the launch of #Bakkt changes EVERYTHING.. Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make….. Like which colour to get pic.twitter.com/Klo5GwOWY7 — Mr Gordon (@MrGordon_UK) August 16, 2019 Picking a Lambo color is probably a little presumptuous at the moment. Bitcoin price did not even react to the announcement as markets remain choppy this morning. BTC is still consolidating in the mid-$10k range after two dips into four-figure territory late in the week but the long term prospects have just brightened significantly. Will Bakkt send Bitcoin price to a new all-time high later this year? Add your thoughts below. Images via Bitcoinist Image Library, Twitter: @scottmelker, @MrGordon_UK The post Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders appeared first on Bitcoinist.com.
Bitcoinist

Bakkt launch bears good news for Bitcoin’s price and regulation

One of the biggest news last year was the announcement made by the New York Stock Exchange’s parent company, Intercontinental Exchange. In August 2018, The firm announced that it would be venturing into the cryptocurrency space with the launch of a new company – Bakkt. This turned out to be an extremely bullish news in […] The post Bakkt launch bears good news for Bitcoin’s price and regulation appeared first on AMBCrypto.
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Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC

The Commodities Futures Trading Commission (CFTC) has greenlighted the physically delivered Bitcoin futures product by Bakkt. Company CEO confirmed the news and said that the derivatives product would debut on September 23. Bakkt will be the first to debut physical BTC futures Kelly Loeffler, CEO of Bakkt recently announced that the startup had won approval from the US CFTC to start offering physically settled Bitcoin futures contracts. Bakkt is backed Intercontinental Exchange, and Loeffler is married to Jeff Sprecher, the CEO of ICE. With this approval, Bakkt will become the first company to launch the physical BTC futures. The products will debut on the market on September 23, and all contracts will be cleared by ICE Clear US, the same service that clears trades for NYSE. Loeffler gave a lengthy statement on the product suggest that Bakkt’s product received CFTC approval after a self-certification process. They have also started user acceptance testing. The Bitcoins backing the futures contracts will be under the custody of Bakkt Warehouse. Bakkt Trust Company, a qualified custodian, has also received approval from the New York State Department of Finance Services. She said, “This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.” Bakkt wins the race The ICE-backed startup is not the only company eyeing the lucrative physically-settled Bitcoin futures sector. Numerous other companies like LedgerX are planning to bring the same opportunity to the market. LedgerX could have become the first company to launch these products as it received approval for offering futures, options and swaps settled in Bitcoin by the CFTC. However, the regulator says that the company lacks adequate approvals for launching the physical futures product. Meanwhile, Bakkt has decided to offer two types of futures contracts- daily and monthly. The collection of variation margin and initial margin collateral will be done by ICE Clear US. Product testing began last month to ensure that there are no hiccups when it eventually launches for the buyers. The qualified custodian of Bakkt will help in addressing concerns of the regulator related to manipulation and theft. Note that the company acquired Digital Asset Custody Company (DACC) earlier this year to win the New York regulator’s approval to become a qualified custodian. The company has also decided to pay $35 million for hedging against risks. Loeffler says that doing so will help bring safety for market participants and bring more integrity to this sector. The post Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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