Crypto-Focused Silvergate Bank Goes Public on New York Stock Exchange

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Crypto-Focused Silvergate Bank Goes Public on New York Stock Exchange
Silvergate is planning to sell more than 3.3 million shares of its Class A common stock, at $12 per share.
Crypto-Focused Silvergate Bank Goes Public on New York Stock Exchange

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Source: CoinSpeaker

BitMEX Reveals Some Users’ Email IDs Making Amateurish Mistake

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BitMEX Reveals Some Users’ Email IDs Making Amateurish Mistake
Cryptocurrency derivatives exchange BitMEX today sent a mass email to its users with their email addresses in the “To” field, affecting their privacy.”
BitMEX Reveals Some Users’ Email IDs Making Amateurish Mistake

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Source: CoinSpeaker

BitMEX Exposes the Email Addresses of Thousands of Users in its Email Announcement

In a blog post published today, BitMEX announced that it will revamp its indices across all products to ensure that the reference prices “more closely reflect the market consensus price of underlying assets”. While the news is a good one, it made a blunder in updating its users. 
BitMEX’s Blunder – It CC’ed the Email Instead of BCC’ing it
BitMEX, for updating its users about revamping its indices, sent an email to its users. However, instead of sending a Blind Carbon Copy (BCC), it sent a Carbon Copy (CC), thereby exposing the email addresses of thousands of its users.
Source: Twitter
The exchange acknowledged its mistake and also apologized to users. It also said that it is taking steps to understand the extent of the impact. Furthermore, it will be in touch with any users affected by the issue.
Our team have acted immediately to contain the issue and we are taking steps to understand the extent of the impact. Rest assured that we are doing everything we can to identify the root cause of the fault and we will be in touch with any users affected by the issue.
Update to Come Into Effect From November 22
The good news is that BitMEX is revamping its indices for offering fairer and more accurate reference prices to its users. The indices which will be updated are .BXBT, .BETH, .BETHXBT, .BXRPXBT, .BBCHXBT, .BLTCXBT, .BEOSXBT, .BADAXBT and .BTRXXBT, and the updates will come into effect from November 22. The new indices will be calculated with trading volume data across the constituent exchanges. This data will be gathered directly from the concerned exchanges using API connections.
To help users understand any differences before the changes applied to BitMEX’s indices on November 22, BitMEX will be publishing “BitMEX NEXT”. BitMEX NEXT is a family of indices that will run parallel to the existing indices and reflect the changes after the switchover. BitMEX NEXT, however, will not be used for valuation or settlement.
BitMEX, with its new indices, aims to achieve fairness, robustness, and accuracy in its reference prices. It believes that the new indices are going to be more representative because they will include data from more exchanges, have more constituents per index, and include higher weight from exchanges with higher trading volume.
The new indices will be calculated as “a weighted average of the Last Price for each constituent exchange”. Index prices will be updated every 5 seconds.
Old Indices Vs New Indices
Source: BitMEX
As can be seen in the table above, the existing indices do not include data from Gemini, Huobi and Itbit. The new indices include data from these exchanges as well, particularly Huobi, whose data will be included in calculating the reference prices of a majority of BitMEX’s products.
Source: BitMEX
In the new indices, Both Itbit and Gemini will contribute data to .BXBT_NEXT and .BETH_NEXT. Huobi will share data for .BETHXBT_NEXT, .BXRPXBT_NEXT, .BBCHXBT_NEXT, .BLTCXBT_NEXT, .BEOSXBT_NEXT, .BADAXBT_NEXT. and .BTRXXBT_NEXT.
Binance’s share in the .BETHXBT_NEXT, .BXRPXBT_NEXT, .BBCHXBT_NEXT, .BLTCXBT_NEXT, .BEOSXBT_NEXT, .BADAXBT_NEXT. and .BTRXXBT_NEXT indices has increased considerably, while Bitstamp will be sharing data for 3 more indices. While Bittrex’s weightage for .BADAXBT_NEXT has reduced significantly, it will be sharing data for 3 more indices. Coinbase will be sharing data for 4 more indices. Kraken and Poloniex’s weightage towards indices has reduced significantly. Also, Poloniex, whose data was earlier being used for calculating 5 indices, will now have a small weightage in only 2 indices.
 
The post BitMEX Exposes the Email Addresses of Thousands of Users in its Email Announcement appeared first on Coingape.
Source: CoinGape

3iQ to Launch Closed-End Bitcoin Fund for Retail Investors in Canada

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3iQ to Launch Closed-End Bitcoin Fund for Retail Investors in Canada
3iQ received initial approval to launch a closed-end Bitcoin fund on the Ontario Stock Exchange which is expected to happen this year already.
3iQ to Launch Closed-End Bitcoin Fund for Retail Investors in Canada

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Source: CoinSpeaker

Bitcoin fund offered by 3iQ Corp. gets thumbs up from Canadian regulators

Canada-based investment fund manager, 3iQ Corp., is in the news after it received a thumbs up from the Ontario Securities Commission [OSC], with regard to its application for a Bitcoin Fund. The Canadian fund manager published a blog post revealing that the OSC had ruled in favor of the firm in a public hearing. The […]
The post Bitcoin fund offered by 3iQ Corp. gets thumbs up from Canadian regulators appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Exchange Giant Binance Finally Launched US Trading

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Crypto Exchange Giant Binance Finally Launched US Trading
Today, on September 24, crypto exchange giant Binance has announced the launch of its arm in the U.S. market. Binance.US is finally opened.
Crypto Exchange Giant Binance Finally Launched US Trading

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Source: CoinSpeaker

Gemini Announces Partnership With Silvergate Exchange Network (SEN)

The Winklevoss-owned licensed digital asset exchange and custodian built for both individuals and institutions, Gemini has announced a partnership with Silvergate Exchange Network (SEN). Tyler Winklevoss also updated his Twitter account with news of the development.

Excited to announce that @Gemini has joined the @silvergatebank Exchange Network. You can now deposit and withdrawal your fiat currency 24/7/365. Onward and upward! 👍🚀 https://t.co/YyUmc4N9e1
— Tyler Winklevoss (@tylerwinklevoss) August 27, 2019

According to the official announcement, the partnership will allow Gemini’s institutional customers to make deposits and withdrawals in U.S. dollars to and from their Gemini account in real times. This partnership is particularly important for Gemini as this would loosen the restrictions around fiat transactions being limited to only banking and business hours.
According to Joshua Rawlins, Gemini’s Managing Director of financial operations,
“fiat currencies have for the most part remained shackled to ‘banking hours’ or ‘business hours.’ SEN is an important step toward changing this,”
As Gemini gets fully integrated with SEN APIs, Gemini customers would be able to move their fiat in and out of their Gemini accounts as easily as they can move cryptocurrency without time restrictions. Also, Gemini itself will be enabled to process transactions, particularly deposits and withdrawals automatically and instantaneously.
Gemini is a licensed digital asset exchange and custodian built for both institutional clients and individuals. It’s a New York trust company which is regulated by the New York State Department of Financial Services (NYSDFS). Gemini is subject to the capital reserve requirements and cybersecurity regulations as well as banking compliance policies set by the NYSDFS and the New York Banking Law.
Silvergate on the other hand is a body which allows for round-the-clock transfer of fiat, particularly U.S dollars. Earlier this month, it was reported that crypto firms are eager to partner with SEN. The network’s trading volume experienced a major boost and reached $8.6 billion in Q2 of 2019, which is more than double the volume the bank gained in the past.
The post Gemini Announces Partnership With Silvergate Exchange Network (SEN) appeared first on Coingape.
Source: CoinGape

Crypto Adoption: Australia Grants Financial Services License to This Crypto Company

Living Room of Satoshi (LRoS) is the first Bitcoin company in Australia which has been granted an Australian Financial Services License.
LRoS officially broke out this announcement on August 22, claiming itself as the “first bitcoin company in the burgeoning Australian cryptocurrency industry” to get this license.  It’s important to note that the Australian financial Service Licenses (AFSL) are issued by the Australian Securities and Investments Commission (ASIC). Every Australian business that is involved in the provision of financial services must obtain an AFSL license.
Living Room of Satoshi Becomes the First AFSL Licensed Bitcoin Company
Source: Twitter
While Australia is known for its positive attitude towards crypto-blockchain startups, the country has strict regulations in place for crypto-focused businesses to operate legally within the nation. LRoS, by becoming the first bitcoin company to get the AFSL license, has reaffirmed Australia’s crypto-friendly stance. Launched in May 2014, LRoS is the oldest crypto payment company which has reportedly processed over $100 million worth of Australian bills using Bitcoins. LRoS enables customers to pay cryptocurrency for various utilities including phone bills, electricity bills, credit cards, school fees, taxes and more.
Daniel Alexiuc, the CEO of Living Room of Satoshi (LRoS) excitedly said in a statement
“This achievement is the first of its kind in Australia and is a testament to our great team”, noted Alexiuc. “The license allows us to expand the scope of Bitcoin payments in Australia, with larger bill payments for consumers, and full-service payment facilities and APIs for businesses.”
Crypto Eco-system in Australia
While most countries are still grappling with the question of how to regulate crypto, Australia is already formulating regulations around cryptocurrencies that allow them to grow in a secure environment. Similar to Switzerland and Singapore, Australia’s stance on the crypto industry is attracting investments in the space from global players. U.S based crypto exchange, Gemini, with its new branch, is the latest to join the list of crypto companies that are serving the crypto savvy Australians.
Gemini exchange is initially offering crypto trading services for five cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Zcash on its Australian crypto trading platform.
Coingape had reported in early February 2019 that crypto trading platforms operating in the country must get registered with the country’s financial authority, AUSTRAC (The Australian Transaction Reports and Analysis). AUSTRAC, though it is encouraging pro-crypto regulations, it also wants to ensure that the crypto exchanges operating within the country must comply with KYC-AML rules and take measures to prevent the use of cryptocurrencies for crime.
The post Crypto Adoption: Australia Grants Financial Services License to This Crypto Company appeared first on Coingape.
Source: CoinGape

Flexa Spreading Their Crypto Payments to Canada

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Flexa Spreading Their Crypto Payments to Canada
Flexa is finally launched outside of the US for the first time ever, which made instant, in-store cryptocurrency payments available to residents of the Great White North, from Yukon to Nova Scotia and from Vancouver to St. John’s.
Flexa Spreading Their Crypto Payments to Canada

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Source: CoinSpeaker

Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade
Crypto derivatives platform Blade will allow users to trade its perpetual swap contracts in Bitcoin and altcoins with up to 150x leverage. Coinbase, as well as other giants, took part in this funding round.
Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Source: CoinSpeaker

This Week in Cryptos: Is UK Heading to Crypto Ban?

Key highlights

Blockfi raises $18M Series A
Is UK heading to crypto ban?
India’s tryst with Cryptos
Bitcoin hashrate hit all-time high
Gemini data added to CME indices

Blockfi raises $18M Series A
Venture capitalist continues to show their interest in crypto and blockchain ventures. This week, BlockFi, an innovative wealth management solution for crypto investors has announced today the successful completion of its Series A funding round, amounting to $18.3 million. The investment was led by Valar Ventures, with participation from Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Capital, and others. What’s fascinating here is a new VC has first time made an investment in blockchain. This marks the first major cryptocurrency investment for Valar Ventures, a New York-based VC fund, which previously led Series A rounds in well-known fintech companies such as Transferwise, N26, Qonto, and Petal.
Is the UK heading to crypto ban?
Regulations around cryptos also held the limelight this week. First, news coming from UK where the country’s financial services watchdog has warned potential investors that bitcoin and cryptocurrencies have “no intrinsic value,” with some taking the caution as a signal the country could be moving towards a bitcoin ban.
“This is a small, complex and evolving market covering a broad range of activities,”
said Christopher Woolard, executive director of strategy and competition at the U.K. Financial Conduct Authority (FCA), which oversees London’s huge banking industry. “Today’s guidance will help clarify which crypto-asset activities fall inside our regulatory perimeter,” Woolard added, with the FCA warning: “Consumers should be cautious when investing in such crypto-assets and should ensure they understand and can bear the risks involved with assets that have no intrinsic value.”
India’s tryst with Cryptos
India too saw some developments toward cryptos. Finally, the Supreme Court of India commenced final arguments pertaining to a slew of cryptocurrency cases pending for the last couple of years. The court did hear the case in detail, it couldn’t complete the hearing and now will continue with the final hearings of IAMAI and other petitioners on RBI-related case on August 14. In its arguments, the IAMAI counsel termed the RBI decision, “arbitrary, unfair and unconstitutional”. The council also cited the response to an RTI filed by lawyer Varun Sethi where the RBI had accepted that no committee was constituted to arrive at the decision to ban a crypto entity from banking solutions
Bitcoin hash rate hit an all-time high
This week Bitcoin network showed signs of growing from strength to strength. The hash rate which is the equivalent of network horsepower just reached another milestone. Hash rate in simple terms is the speed at which computers on the network operate. For miners, the higher the better, as it increases the chances of completing the mathematical problem to solve the block and collect the resultant block reward.
Gemini data added to CME indices
Winklevoss twins had another victory to its name. Market data from the Winklevoss twins-founded crypto exchange Gemini is being added to eight crypto indices offered by CF Benchmarks. Formerly called Crypto Facilities, CF Benchmarks’ eight reference products include four indices and reference rates provided for CME Group, which currently offers a bitcoin futures product: the CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index, and the CME CF Ether-Dollar Reference Rate and CME CF Ether-Dollar Real-Time Index. CF Benchmarks said Thursday that the addition of Gemini as a data source, alongside existing exchanges Bitstamp, Coinbase, itBit, and Kraken, will boost the quality of market data underlying the indices.
The post This Week in Cryptos: Is UK Heading to Crypto Ban? appeared first on Coingape.
Source: CoinGape

KuCoin Derivatives Platform KuMex Kicks Off with a 20x Leverage on Bitcoin Perpetual Contract

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KuCoin Derivatives Platform KuMex Kicks Off with a 20x Leverage on Bitcoin Perpetual Contract
The IDG-backed cryptocurrency trading platform KuCoin recently launched its affiliate derivatives platform – KuMex initiating a ceaseless Bitcoin contract leveraging to the tune of 20x.
KuCoin Derivatives Platform KuMex Kicks Off with a 20x Leverage on Bitcoin Perpetual Contract

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Source: CoinSpeaker

Flexa Integration Makes Litecoin Payments Possible At Over 39,000 Merchant Locations

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Flexa Integration Makes Litecoin Payments Possible At Over 39,000 Merchant Locations
Flexa adds support for Litecoin on its payments network allowing users to pay in the cryptocurrency at the point-of-sale terminals at different merchant locations.
Flexa Integration Makes Litecoin Payments Possible At Over 39,000 Merchant Locations

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Source: CoinSpeaker

Gemini Set to Trade Crypto Securities, Applies for Broker License from FINRA

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Gemini Set to Trade Crypto Securities, Applies for Broker License from FINRA
Gemini, the Winklevoss brother owned cryptocurrency company, has recently applied for a FINRA broker-dealer license. This is a healthy step towards allowing their customers to lawfully swap digital securities.
Gemini Set to Trade Crypto Securities, Applies for Broker License from FINRA

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Source: CoinSpeaker