NO 2020 PUMP? Whether you call it the “halving” or the “halvening,” conversation around bitcoin’s upcoming reduction in mining reward is likely to intensify over the next six months. Previous halvings have triggered bull runs. But this time the bump may already be priced in, says Noelle Acheson. Full story
EXPLORING COSMOS: The Interchain Foundation (ICF) raised $17 million in April 2017 to guide development of the Cosmos network, a system for making blockchains communicate. The ICF has funded a cast of supporting players and grown its assets to $104 million, highlighting how companies with conservative treasury management have outperformed those relying on marketing. Full story
BITCOIN STORAGE: Bakkt is opening up its bitcoin “warehouse,” following approval by the New York Department of Financial Services (NYDFS). Intercontinental Exchange’s bitcoin subsidiary announced Monday it would provide custody services for institutional clients. Pantera Capital, Galaxy Digital and Tagomi have already signed on as initial customers for the “Bakkt Warehouse,” with other “marquee firms” expected to join over the next few weeks. Full story
BIS COIN? Benoit Coeure, outgoing member of the executive board of the European Central Bank (ECB), will lead a new global effort by central banks to research the benefits of fintech such as digital currencies. The Bank for International Settlements (BIS) announced Sunday that Coeure will head the BIS Innovation Hub. Full story
UBIN MARCHES ON: The Monetary Authority of Singapore, the city-state’s central bank, has completed a blockchain-based cross border payments system that supports a range of currencies and connects to different blockchains. The latest phase of Project Ubin, the prototype platform was developed in partnership with investment banking multinational JPMorgan and Singapore government-owned investment firm Temasek. Full story |
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| SLIPPERY SLOPE: Bitcoin has dropped below the 200-day average and looks set to test $8,500 support after rejection at the bearish trendline sloping downwards from June highs. To avert further losses, bulls need to push prices above that 3.5 month trendline, currently at $9,335. Otherwise, prices look set to drop to $8,500 and maybe beyond. Full story |
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