Monthly Archives: October 2020

Brazil is prepping an IPO for its state-run digital bank

Brazilian Minister defends IPO of federal digital bank created to aid population during pandemic Brazil’s Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil “is about to” join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares (IPO) for the newly-created digital bank of Caixa Econômica Federal. Caixa Econômica Federal created a digital bank during the pandemic to help the government send financial aid to around 64 million Brazilians. […]

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Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike

The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the current U.S. president, Donald Trump, floated the idea of cutting long-term capital gains cut down to 15%. In just two weeks, the U.S. may see a new president or it may get […]

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OKEx users express frustration over suspended withdrawals

“It’s a bit weird one of the biggest exchanges in the world isn’t letting us withdraw money for so long,” said one crypto Twitter user. Major exchange OKEx suspended crypto withdrawals on Oct. 16. With little information coming from the firm or its CEO Jay Hao in the time since, users have begun demanding answers via Twitter. In an Oct. 20 tweet from Hao, the CEO stated that there had been “no on-chain out-flow” since the exchange announced it had “temporarily suspended” withdrawals on Friday. “Your assets […]

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The Rush To Own India’s Bitcoin Market Is Back On

While the volume and scale may not be huge by current industry standards, venture capital inflows into Indian Bitcoin companies have been hard not to notice this year. Long considered an obviously ripe market for Bitcoin adoption, the regulatory and banking establishments in India have, at times, hamstrung growth of a local commercial Bitcoin ecosystem, leading to frustration for companies building and gaining traction for their services as well as for outside capital looking to take advantage of a brimming opportunity.   But the main shackles hindering this […]

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In China, most blockchain R&D funds are going toward this segment

China’s growing interest in blockchain technology spreads to publicly traded companies. A report published by Securities Daily explained how China’s publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions. The report highlighted that Yuanguang Software, an enterprise software provider, have increased their related research spending by […]

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Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin futures contribute more to price discovery than its related spot markets.” And the researchers also suggested that: “CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading […]

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Kraken’s Cryptowatch ships desktop trading terminal for expert traders

One desktop app, many exchanges. The Cryptowatch platform, a subsidiary of the Kraken exchange, announced on Tuesday the release of its desktop-based trading app. Cryptowatch is a trading terminal that aims to group most market data and exchanges under one roof. Traders using the platform are able to connect their accounts across many popular exchanges and place orders on all of them through a single interface. Up until now, the platform could only be accessed through a web browser. The launch of Cryptowatch Desktop, an application for […]

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Breakout or fakeout? Top traders react to Bitcoin price rally to $11.9K

Bitcoin price rallied to $11,900 but traders are unsure whether the move is a breakout or a fakeout. Within the past few hours, Bitcoin (BTC) price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities. The general sentiment around Bitcoin among analysts and traders remains positive and multiple on-chain analysts […]

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Institutions Long and Hedge Funds Short: Bitcoin Options Traders Prep for ‘Big Moves’ Ahead

Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move. Data from CME’s recently published trader report shows that institutional investors are capturing a larger number of bitcoin long contracts, while hedge funds are showing an all-time high for bitcoin short contracts. On Tuesday, the price of bitcoin (BTC) has been attempting to capture the $12k price zone and a number of people are focused on the crypto assets’ next moves. While a number of crypto traders are extremely bullish […]

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