Tag: Cryptocurrency

Cryptocurrency

CabbageTech Uprooted by CFTC

The US Commodity Futures Trading Commission (CFTC) has successfully brought an action against a fraudster in relation to cryptocurrencies.
Following a four day bench trial, a New York federal court entered final judgment ordering Patrick McDonnell and his company, CabbageTech, Corp (also known as Coin Drop Markets or CDM), to pay over $1.1 million in civil monetary penalties and restitution in connection with a lawsuit brought by the CFTC alleging fraud in connection with virtual currencies, including Bitcoin and Litecoin.

Vela Partners with CoinMarketCap

Technology provider Vela, has announced a partnership with CoinMarketCap, a provider of cryptocurrency data, to add cyrptocurrencies to its market data feed service, SuperFeed.
The partnership will provide Vela’s institutional client base with normalised access to the list of more than 1,800 cryptocurrency coins and tokens supported by CoinMarketCap. Vela will integrate CoinMarketCap’s professional API into SuperFeed to enable institutions to access the new data alongside more traditional market data sources.
“With crypto being one of the biggest disruptors in our space today, this agreement fortifies Vela’s entry into this innovative digital currency sector,” says Jen Nayar, CEO at Vela.

AirSwap Rolls Out Conversational OTC Features

AirSwap, a decentralised global network for Ethereum tokens, is rolling out a private, beta version of its new conversational OTC features today, August 15th.

AirSwap staff and partners gave product overviews and demos at a private event on August 8th at its Brooklyn loft, which featured presentations on the AirSwap Widget, the Developer Toolkit and a new conversational OTC product. Key partner firms also discussed integration and building on AirSwap.

The event kicked off with AirSwap advisor, VC and blockchain enthusiast, Bill “Yoda” Tai, giving an overview of AirSwap’s role in the evolution to frictionless, decentralised, peer-to-peer trading, discoverable by search.

BlockTower Co-Founder Joins Caspian Advisory Board

Crypto trading technology provider Caspian has announced that cryptocurrency investment firm BlockTower Capital’s co-founder Ari Paul has joined its advisory board.
The appointment comes as Caspian also announced that it now connects to more than 25 exchanges and has 12 funds on its beta platform, with eight more clients expected later this month. The firm also says it will be adding its first OTC desk as a destination later this month and that it is allowing for a defined composite order book that aggregates and displays liquidity from more than 20 exchanges with the ability to trade against it using the Caspian Smart Order Router (SOR).

AlphaBot Adds Performance Data for Cryptocurrencies

AlphaBot has added performance data and analysis tools enabling investors to compare, portfolio build, and compile reports on more than 1,600 cryptocurrencies and tokens.

Launched earlier this year, AlphaBot helps allocators – including high net worth individuals, family offices and institutions – find and connect with investment platforms, hedge funds, data sources and other providers. Using AlphaBot, allocators can obtain fund performance and benchmarking data, then model, build and execute portfolios.

“As the cryptocurrency markets grow and mature, AlphaBot now is the only platform that allows for thorough research, analysis, and comparison of performance of crypto currencies along-side other investments including hedge funds, CTAs, and equities all in one place,” says Dmitri Alexeev, CEO of AlphaBot.

What Next for Crypto Regulation? A Washington Insider’s View…..

Profit & Loss’s latest OnTheBlock series featured a one-one-one discussion with former CFTC staffer Justin Slaughter, now a partner at Mercury Strategies, in which he provided an insider’s perspective on how cryptoassets are being viewed by regulators in Washington, DC.

P&L OnTheBlock: An SEC official recently said that the agency does not  view ether[eum] as a security. Does this mean that the issue is settled and the SEC definitely won’t try and regulate it as a security now? 

Justin Slaughter: What we are basically hearing is that there isn’t an explicit, major problem with ether as a security. They are not yet saying it’s totally, absolutely, not a security.

What Is the Real Value of Bitcoin?

There is one question regarding cryptocurrencies, and Bitcoin in particular, that has continued to baffle many, and has caused some skepticism amongst market commentators, namely what is the fundamental value of these assets?

Bitcoin, still by far the largest cryptocurrency that exists, is not a good store of value because the price of a bitcoin is so volatile. As a result, it functions poorly as a currency, after all, no one wants to buy something worth $100 with bitcoins if those same bitcoins are going to be worth $200 a few months later and no one wants to sell an item worth $100 for bitcoins, because those coins could be worth $50 shortly after the transaction.

trueDigital Launches Institutional Focused Crypto Indices

Today, trueDigital Holdings (TDH), a developer of institutional-grade digital asset trading solutions, announced that it has partnered with 10 liquidity providers and contributors, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer Trading + Investments and Altonomy, to create what it claims are the first market maker based bitcoin and ether pricing indices.

“The launch of the trueDigital bitcoin and ether reference rates sets a new standard for the digital asset market and allays common concerns about the robustness and lack of transparency inherent in retail exchange-based bitcoin pricing composites,” says TDH in a release issued today.

The trueDigital reference rates, comprised of bid and offer pricing from top cryptocurrency market makers, include automated anti-manipulation safeguards such as outlier detection and price banding.

Cinnober Teams Up with BitGo

Cinnober, a provider of exchange technology, and BitGo, which offers institutional-grade cryptocurrency security, are collaborating to provide solutions to cryptocurrency exchanges.

BitGo’s wallet solution will expand Cinnober’s trading and post-trade platform with the aim of providing an end-to-end, secure, institutional-grade digital asset exchange solution.

Through the collaboration with BitGo, Cinnober claims that it is consolidating its offering to cryptocurrency exchanges in need of a high-performance trading solution to handle increasing market volumes, expectations from institutional investors and requirements from regulators. BitGo’s wallets and custodial solutions include security key management, multi-signature setups, setting of procedures and client-driven policies to ensure assets are held in a highly secure environment.

And Finally…

The memories of last year’s emotionally charged bull run in bitcoin are fading fast, almost as fast as the optimism earlier this year that the cryptocurrency would regain the highs of 2017. At less than half the value at which it entered the year I am hearing a few more “why the time to buy bitcoin is now” stories emerge, but this bothers me. Looking at a market I like to weigh up the rationale for buying and selling – and bitcoin at the moment seems heavily weighted one way.