The Herd is Coming
More and more companies are starting to diversify their cash holdings into Bitcoin.
Two weeks ago, it was MicroStrategy...
This week, it's Snappa, an Ottawa-based graphics software firm.
The company announced its decision to move a significant amount of its cash reserves into Bitcoin on Monday, citing concerns of inflation and global economic uncertainty.
We suggest you read the announcement too. The essay provides an articulate and concise case for why every company and individual should have some exposure to BTC.
If the trend continues, a new era for Bitcoin will be upon us... and it will undoubtedly bring with it a new severity in terms of upward price volatility.
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ConsenSys Acquires JP Morgan's Quorum
The Ethereum-focused startup, ConsenSys announced this week the acquisition of JPMorgan's Quorum blockchain unit.
What is ConsenSys?
From developer tools to enterprise solutions, ConsenSys builds Ethereum blockchain infrastructure and applications.
(Most people know that Ethereum is a public blockchain network that transacts billions of dollars in value. But many people donât know that the Ethereum codebase is also used by enterprises worldwide to form business blockchain networks. Many of these private instances are separate from the public chain, though they have an option to bridge data or value on the main public Ethereum network. Read more on Enterprise Ethereum here.)
What is Quorum?
Quorum is an enterprise-grade, privacy-centric variant of Ethereum. As more projects began building on Quorum, it became obvious to many in the blockchain world that a bank isnât the right place to maintain a large scale open-source software project. In 2018, JPMC took Quorum away from the Ethereum dev community. This week it has returned under the Consensys label.
The Deal
Quorum will continue to be an open-source project and it will also become interoperable with other ConsenSysâs products. In its turn, JP Morgan will be a customer of ConsenSysâ advanced features and services deployed on Quorum.
Coinciding with the acquisition of Quorum, the companies also announced JP Morganâs new strategic investment in ConsenSys âto help developers build next-generation networks and enable enterprises to launch more powerful financial infrastructure.â
Why It Matters
In short, the stronger and more useful ConsenSys gets, the more valuable Ethereum will become. The biggest question mark for Ethereum, however, remains the same: Scalability. But that's a story for another day.
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Crypto Derivatives Exchange FTX has Acquired Blockfolio for $150M
Hong Kong-based cryptocurrency derivatives exchange, FTX, announced the acquisition of cryptocurrency portfolio tracker Blockfolio for $150 million (the sixth-largest acquisition in crypto sector history).
Blockfolio is the crypto industry's most popular mobile app for portfolio and news monitoring. (It claims 6M lifetime downloads and ongoing monthly impressions of 150M)
The deal is essentially one big push for retail trading. FTX is primarily focused on derivatives like futures and options contracts and it oversees $750 million in trades per day. The combined company will aim to âbuild a new standard for quality in retail trading experiences."
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[Last Chance] Trumpâs Bills Could Help You Become Cash-Rich
Last month, Trump signed two bills into law that can help promote opportunities for Americans to get cash-rich, without stepping out of the home.
In fact, if you can get in on this opportunity soon, you can start earning cash as early as tomorrow, August 27th.Â
To learn how these new bills can impact these opportunities, and to see how you can take advantage of them, click here now. |
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The Business Trends of Crypto Exchanges
From a standing start in October 2008, the cryptocurrency exchange industry has matured at an astonishing pace. But there is no guarantee that this maturation is sufficient for cryptocurrency exchanges to remain independent indefinitely.
In this Deep Dive, CoinMetrics explores the maturation of the crypto exchanges throughout the years.
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Funding Roundup
Let's review: - BlockFi Raises $50M Series C Led by Morgan Creek Digital
 - DeFi project Perpetual Protocol raises $1.8 million in funding round led by Multicoin Capital
 - DeFi Aggregator Bella Protocol Announces $4M Seed Round
 - Investment Group Ribbit Capital filed a $350m prospectus with the SEC for its SPAC.
And in other news, Fidelity president and director of digital funds, Peter Jubber, today filed paperwork with the SEC informing the regulator of a new fund dedicated to Bitcoin.
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Powell Set to Deliver âProfoundly Consequentialâ Speech, Changing how the Fed Views Inflation
The U.S. Federal Reserve Chair Jerome Powell is set to speak at the Jackson Hole Economic Policy Symposium on Thursday.
The Fed chief is expected to signal tolerance for higher inflation during the speech. He is expected to likely use the phrase "average inflation" targeting, meaning the Fed would allow inflation to run higher than its target 2%.
So the question arises... What does this mean for stocks, gold, bonds, and particularly of interest in our case, bitcoin? Start here.
As Tyler Winklevoss tweeted: "The Fed, under the leadership of Jerome Powell, continues to be Bitcoin's biggest booster"
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The Bitcoiners Who Live âPermanently Not Thereâ
The crypto-rich are "moving abroad" to escape their tax burdens, and companies like Plan B Passport are helping them do it.
Get the full story here.
"This open approach to tax avoidance is perfectly legal."
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Why Dropbox could soar 80% or more
The Financial News media is bashing Dropbox (DBX) right now.
But Joel Litman -- Forensic Accountant and CEO of Valens Securities -- knows something they don't.
If youâve got a couple of minutes, you can click here and see his proof of why theyâre wrong. |
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SEC Modernizes the Accredited Investor Definition
The SEC has adopted new accredited investor rules, broadening the group of U.S. residents who can invest in private financial markets.
They are finally incorporating knowledge & sophistication (by including people who have qualifying education or credentials), rather than net worth.
Here's a quick overview on whatâs changing... (and why it's not as meaningful as you might think)
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USPS Patents a Voting System That Utilizes a Blockchain
As The United States Postal Service (USPS) is in the crosshairs of a mail-in voting clash with President Donald Trump, they have quietly filed a patent for a "Secure Voting System" that uses a blockchain.
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