Noelle Acheson argues that Libra is not a cryptocurrency, it’s a security. That in itself is a huge innovation, and perhaps a glimpse of what is yet to come.
CoinDesk
Travis Kling: There’s a Good Chance Crypto Is Next Year’s Best-Performing Asset Class
Travis Kling, a former executive at Point72 Asset Management, believes there is a good chance that cryptocurrencies could be the best-performing asset class in 2019. In a recent tweet, Kling, the founder and CIO of the crypto-focused Ikigai Fund, briefly reveals that he sees the unwinding of quantitative easing (QE) as a potential bullish driver for digital […]
SludgeFeed
Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018
The cryptocurrency market is not the only financial asset that has suffered losses and recorded a consistent decline as the year winds to an end. In fact, every major asset class for investment has recorded negative returns or an unchanged performance year. This is the conclusion of a CNBC report summarizing the performance of markets in 2018.
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BitMEX CEO: Crypto Could Become a Legit Asset Class in the Next Decade
Arthur Hayes, the CEO of leveraged crypto exchange BitMEX, believes that Bitcoin (BTC) and other cryptocurrencies could become a legitimate asset class within the next decade. Hayes shared his insights during a recent interview with Laura Shin on the popular Unchained crypto podcast earlier this week. Ultimately, Hayes seems to be fairly skeptical of the digital asset class, emphasizing that its […]
SludgeFeed
Morgan Stanley: Bitcoin is a New Institutional Investment Class
There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In
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Morgan Stanley: Bitcoin (BTC) Is a New Institutional Investment Class
Morgan Stanley (MS) has been one of the more forward-thinking Wall Street institutions when it comes to cryptocurrency, and their recent report on Bitcoin (BTC) shows a new level of trust in the digital asset. In the report, Morgan Stanley cites institutional investor’s increasing assets under management (AUM), surging Bitcoin futures trading volume, and the relative […]
SludgeFeed
Experts: Fidelity Could Single-Handedly Solidify Crypto as New Asset Class
On October 15, Fidelity, the world’s fourth largest asset manager with $ 7.2 billion assets under management, launched its crypto custody arm. At the time, Fidelity CEO Abigail Johnson stated that the long-term strategy of the investment firm is to make Bitcoin and the rest of the cryptocurrency market more accessible to investors. “Our goal is
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New BitConnect Class Action Combines All Former Suits — And Targets Youtube
According to recent court documents, an Amended Consolidated Class Action Complaint has been filed at a U.S. District Court for the Southern District of Florida against BitConnect. The new suit combines all the lawsuits previously filed against the now-defunct pyramid scheme.
The new class action names the law firm Silver Miller as the “Class Counsel” and BitConnect owners and promoters as defendants in the suit. Silver Miller has become famous for its efforts in handling cryptocurrency-related cases, representing aggrieved clients who have lost funds to crypto businesses and going head-to-head against companies such as Coinbase, Kraken, BitConnect and Tezos.
Class Action Suits Launched Against Cryptocurrency Mining Investment Company
The law offices of Pomerantz LLP in New York have filed a series of civil suits against MGT Capital Investment and its executive officers on behalf of several of the trading firm’s past or present customers. The suits allege that between October 9, 2015 and September 7, 2018, the company violated laws set forth by the Securities Exchange Act of 1934 that resulted in damages to several of its clients.
An Alluring New Asset Class For Bitcoin
Bitcoin means an ambitious categorisation effort by regular financial companies resulting in some viewing this alluring new asset class as much as a hybrid of a currency as it is an investment.
Bitcoin has been declared as a commodity by the Commodities Future Trading Commission (CFTC). Bitcoin has also been classed to be a too property by the Internal Revenue Service (IRS). The Securities and Exchange Commission (SEC) sees over the market for Bitcoin as if it was a security however, Bitcoin is mainly used as a currency.
Continue reading An Alluring New Asset Class For Bitcoin at Crypto Daily™.
Bitcoin, A Tool For The Labour Class, Or A Weapon For Capitalism?
We’ve touched upon this sort of issue before, but it’s a topic that comes back again and again.
Bitcoin was produced as a site of liberation, a decentralised product designed to allow people a chance to break away from the capitalist financial system, a way to take control of your own money across a democratic medium. With no banks and no authorities having control, it seemed that Bitcoin would be the tool for ultimate freedom.
Continue reading Bitcoin, A Tool For The Labour Class, Or A Weapon For Capitalism? at Crypto Daily™.
Argyle Coin Gets a Guarantee Bond, Introducing a New Class of ICO to Support Investors
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Op Ed: New Bermuda Legislation Will Create a Novel Class of Bank to Service Fintech Companies
As we reported on July 19, 2018, Bermuda is determined to establish itself as the leading jurisdiction for fintech entrepreneurs, in particular those involved in initial coin offerings (ICOs), digital assets and virtual currencies. Having recently passed the ICO Act and the Digital Asset Business Act (DABA), Bermuda’s Premier and Minister of Finance, the Hon. E. David Burt, JP, MP, and his cabinet are now focused on creating a new class of bank to facilitate Bermuda’s fintech initiative.
Japanese Class Action Against Gambling Coin Claims $12m Damages
Withcoin, a virtual currency reportedly designed for casinos, and listed on the Hitbtc exchange around May, is accused of selling coins using a promotional video propagating alleged lies and misleading information. In April 2018, a video promoting Withcoin went viral on the internet, inviting investors to purchase in advance a coin that was going to be listed on a crypto exchange in May, the message said.
Also read: The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $ 1.9 Million
Youtube Dragged Into Bitconnect Class Action Lawsuit for Failure to Protect Victims
Youtube has been dragged into a class action lawsuit against Bitconnect for failure to protect its users from being exposed to the scam’s videos. This case might be used by Google and others to justify their bans on crypto ads, arguing that their algorithms can not distinguish between legitimate projects and frauds.
Also Read: No Insider Trading, Market Manipulation and Misleading Ads – Malta’s New Crypto Law
Another Class Action Filed Against Ripple, Claims XRP Has “Hallmarks of a Security”
Ripple is staring down the barrel of yet another securities lawsuit — its third one this year.
Filed in the Superior Court of the State of California in San Mateo County, the class action alleges that Ripple and its team illegally sold and promoted XRP, Ripple’s currency, as an unregistered security.
The suit’s plaintiff, David Oconer, is demanding that the court classify XRP as a security, while also seeking relief for the “damages, recession” that he incurred from investing in the coin.
Second Class Citizens or a False Narrative? The Non-Mining Node Debate Heats Up
Over the past few months, there has been an ongoing theoretical and ideological debate concerning the difference between mining nodes and non-mining nodes, and whether or not one set of nodes is more important than the other. The ongoing argument between BCH proponents and BTC supporters often leads to the node debate as to which group of nodes is stronger. The dispute has even led some BTC luminaries to state that users who don’t run a fully validating node are merely ‘second-class citizens’ in the land of cryptocurrency.
Also read: The Exahash Era: SHA-256 Mining is a Significant Achievement in Computer Engineering
Crypto Utility Tokens Are a New Asset Class According to the State of Wyoming
As opinions differ on the actual definition of cryptocurrencies, the US state of Wyoming has gone ahead and passed a bill referring to crypto utility tokens as a new asset class.
Developing regulations seems to be at the top of the US government’s crypto to-do list, but one thing seems to be putting a spanner in the works, and that is finding a definition for the term itself.
The Securities and Exchange Commission (SEC) refers to them as securities, but the Commodity Futures Trading Commission (CFTC) defines cryptocurrencies as commodities, a sentiment seemingly echoed by New York district judge Jack Weinstein.
CEDEX is Transforming Diamonds into a New Asset Class
Since the first diamond was excavated from the ground, the diamond industry has been shrouded in mystery. Only professionals know the actual value of a given stone, and it’s extremely difficult to successfully purchase or sell diamonds at their legitimate market value. CEDEX adds much-needed transparency to the traditional diamond industry.
Turning an Opaque Industry Transparent
CEDEX is engineering a revolution in the diamond industry by allowing the precious stones to be traded just like any other financial asset. Thanks to the transparency and security of a blockchain-based exchange, CEDEX affords individuals the ability to buy and sell diamonds with ease – thus providing some much-needed transparency to an industry traditionally shrouded in mystery. With CEDEX, diamonds are turned into a fungible asset with clearly defined values.
ICOs In BIG Trouble? 😱 Tezos Cryptocurrency Sued In Class Action ⚖ Lawsuit – More Of These To Come?
**On today’s episode of The Cryptoverse:**
An update on the Tezos controversy. Tezos Founders Sued for Securities Fraud in Potential Class Action, which could lead to a wave of copycat attacks on ICOs.
The lawsuit involved Tezos founder Kathleen and Arthur Breitman and Johann Gevers.
And we’ll do a daily check in on the progress towards the Segwit2x hard fork.
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