#margin trading poloniex explained

[tri-report]

Cryptocurrency Market Extensive Demand, New Development and Research 2020-2025

The Global Cryptocurrency Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The global cryptocurrency market is expected to grow with a CAGR of 32% from 2019 to 2024.

Top Companies in the Global Cryptocurrency Market: ZEB IT Service, Coinsecure, Coinbase, Bitstamp, Litecoin, Poloniex, BitFury Group, Unocoin Technologies Private, Ripple, OKEX Fintech Company, Bitfinex And Other

Click the link to get a Sample Copy of the Report: (Special Offer: Available Flat 30% Discount for a limited time only):

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This report segments the Cryptocurrency Market on the basis of by Type are:

Bitcoin (BTC) Ether (ETH) Others

On the basis of By Application, the Cryptocurrency Market is segmented into:

Transaction Investment Others

Regional Analysis for Cryptocurrency Market:

For a comprehensive understanding of market dynamics, the Cryptocurrency Market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Explore Full Report With Detailed TOC Here:

https://www.reportsnmarkets.com/report/Cryptocurrency-Market-Status-and-Trend-Analysis-2017-2026-COVID-19-Version–89575  

Points Covered in The Report:

The points that are talked over within the report are the major Cryptocurrency Market players that influence the market such as raw material suppliers, manufacturers, equipment suppliers, end users, traders, distributors etc.

The all-inclusive profile of the companies is specified. The production, price, capacity, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, future strategies, supply, and the technological developments that they are creating are also incorporated within the report. Besides the historical data from 2014 to 2019 and forecast data from 2019 to 2025.

The growth factors of the Cryptocurrency Market are deeply discussed while the different end users of the market are underlined.

Data and information by manufacturer, by region, by type, by application and etc., and custom research can be added in line with the specific requirements.

TheCryptocurrency Market report also considers the SWOT analysis of the market. Finally, the report concludes with the opinions of the industry experts.

What are the market factors that are explained in the report

Further in the Cryptocurrency  Market research reports, following points are included along with in-depth study of each point:-

Production Analysis – Production of the Cryptocurrency Market is analyzed with respect to different regions, types and applications. Here, price analysis of various Cryptocurrency Market key players are also covered.

Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the Cryptocurrency Market. Another major aspect, price, which plays important part in the revenue generation, is also assessed in this section for the various regions.

Supply and Consumption – In continuation with sales, this section studies supply and consumption for the Cryptocurrency Market. This part also sheds light on the gap between supple and consumption. Import and export figures are also given in this part.

Competitors – In this section, various Cryptocurrency Market leading players are studied with respect to their company profile, product portfolio, capacity, price, cost and revenue.

Other analyses – Apart from the aforementioned information, trade and distribution analysis for the Cryptocurrency Market, contact information of major manufacturers, suppliers and key consumers is also given. Also, SWOT analysis for new projects and feasibility analysis for new investment are included.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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[joshuajacksonlyblog]

Why Are Crypto Exchange Tokens On a Tear Today?

Crypto markets are still correcting for the second day following over a week of solid gains. Most digital assets are still in the red but there are a couple of solid performers, and they’re mostly exchange based tokens. Total crypto market capitalization has shed around $12 billion over the past 48 hours as bitcoin and its brethren correct as expected. Declines have been steady as opposed to a steep plunge indicating that markets are primed for further gains. At the time or writing total cap was around $275 billion and the majority of the altcoins were in the red with losses of a couple of percent on the day. A couple are bucking that trend though and making solid gains and they are mostly exchange based crypto tokens. OKEx Token Surges Hong Kong headquartered OKEx has followed in the footsteps of market leader Binance by developing its own blockchain. As a result the OKB token has skyrocketed over the past day or so. From trading around $4 on Monday the exchange based token surged to $5.70 in a 42% pump over the past 24 hours. It has since pulled back marginally but is currently the top performing altcoin in the top one hundred. The move has lifted OKB market cap to $330 million according to coinmarketcap.com which positions it at 34th spot, just ahead of Qtum. The surge has been initiated by the launch of the OKChain and OKDEX. According to the blurb on the company announcement; “OKChain is a decentralized public chain that supports various decentralized applications and allows users to issue their own cryptocurrencies, create trading pairs, and trade freely on it.” Exchange CEO Jay Hao gave it a big plug on his twitter feed adding there has also been a 700 million uncirculated OKB token burn; Big day for @OKEx. The long-awaiting OKChain testnet, the launch of #OKDEX, all of them are just the beginning towards a more decentralized and open future. A future with infinite possibilities. Let me explain them one by one. https://t.co/hgQkgz0RLf pic.twitter.com/bGbNLtqRTa — Jay Hao (@JayHao8) February 10, 2020 The move has basically mirrored what Binance did last year launching its own Ethereum competitor in Binance Chain and DEX back in April last year. Binance market share has grown since then swallowing up rivals such as Bittrex, Poloniex and Bitfinex. Huobi Token Chases The other top performing crypto asset is another exchange token, HT. This one has cranked from $3.90 yesterday to $4.75 a few hours ago in a 22% pump. Huobi Token was one of 2019’s top performing crypto assets with a surge of almost 150%, outperforming even bitcoin. Today’s momentum comes following an announcement that Huobi will Join the Klaytn Global Blockchain Governance Council, led by South Korean internet giant Kakao.

IFTTT

[bitsevenenglish-blog]

Crypto Exchange Gemini On the Rise After CBS Airs Bitcoin Feature/ bitcoin margin trading,bitseven,bitcoin exchange,FX Margin bitflyer,CoinMarketCap,poloniex,bitfinex

On Sunday morning, the American public got another boost of exposure to Bitcoin (BTC) and crypto assets. Renowned New York-based outlet CBS released an extensive feature on the leading cryptocurrency, interviewing the Winklevoss Twins about their involvement in the space. As a result, the twins’ brainchild, Gemini, has gained some exposure, just as BTC has surged past $9,000 in a jaw-dropping turn of events. >Related Reading: Crypto CEO: Launch of Facebook Libra Could Boost Bitcoin (BTC) Past $10,000 Bitcoin Boosted by CBS On Sunday morning (Father’s Day), CBS aired an eight-minute segment on Bitcoin — the latest time a mainstream outlet has discussed the matter in depth. During the episode of the fittingly-named “Sunday Morning”, CBS contributors sat down with Tyler Winklevoss, Cameron Winklevoss, and Ben Mezrich (author of the “Bitcoin Billionaires”). The twins’ early involvement in Facebook and Bitcoin was discussed, with the anchor mentioning that he isn’t surprised that the so-called “Winklevi” have been at the head of two trends: social media and digital money. Simple Bitcoin concepts were mentioned, with CBS dubbing it “money that works like e-mail” and the twins accentuating that BTC has the potential to surmount gold. The anchor also mentioned Facebook’s impending cryptocurrency. It isn’t clear how many viewers the segment received, but this figure likely ranges in the single-digit millions — not bad. Interestingly, some have come out to criticize the report, which this writer thinks was mostly balanced. Prominent commentator and staunch Bitcoin bull American HODL remarked that the fact CBS claims BTC is “slippery and incomprehensible” is a bit irresponsible, in that the outlet is pushing “FUD” if you will. You see, as HODL explains, “just because you can’t comprehend it, doesn’t mean everyone can’t. Believe it or not, some of us actually get what’s happening here.” Gemini on the Rise Seemingly as a direct result of this extensive report and Bitcoin rallying past $8,800 and $9,200 in rapid succession, regulated crypto exchange Gemini, which the Winklevoss Twins founded, has seen a nice spike in interest from the American public. As spotted by twin Cameron, the Gemini mobile app is “about to break into the top 20” in the Apple App Store for “Finance” applications. This follows news that the Bitcoin-friendly Square Cash is on the top of the App Store, and the terms “Blockchain” and “Coinbase” have trended on the marketplace’s search bar. Mainstream Exposure is Back for Crypto This comes shortly after CBS’ “60 Minutes”, a world-renowned television program known for tackling tough issues and covering key trends, covered Bitcoin. In that segment, hosted by legendary television personality Anderson Cooper, CBS met with Federal Reserve Governor Lael Brainard; MIT Media Lab’s Digital Currency Initiative’s Neha Narula; cryptocurrency entrepreneur Marco Streng, who heads Genesis Mining; the ‘Bitcoin pizza guy’; and BitInstant founder and Winklevoss Twins collaborator Charlie Shrem to gain a fleshed out understanding of the nuances of the industry.

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[cryptoquicknews-blog]

New Post has been published here https://is.gd/W6RAJq

Margin Lenders on Poloniex Lost $13.5 Million Due to Flash Crash

This post was originally published here

Margin lenders on American cryptocurrency exchange Poloniex have lost around $13.5 million due to a flash crash. Poloniex announced about the incident in a blog post published on June 6.

Poloniex revealed that on May 26 a severe price crash in the clams (CLAM) market led to margin loans losses amounting to roughly 1,800 bitcoin (BTC), or approximately $13.5 million at the time. The incident affected 0.4% of all users and resulted in the reduction of all active BTC loans by 16.202%.

The exchange subsequently froze all of the defaulted borrowers’ accounts and will keep them frozen until the borrowers repay their loans. Poloniex also claims that it will return the funds to affected lenders as soon as it recovers the lost money. Poloniex suggested that the crash occurred due to a number of reasons, and further explained:

“The velocity of the crash and the lack of liquidity in the CLAM market made it impossible for all of the automatic liquidations of CLAM margin positions to process as they normally would in a liquid market. In addition, a significant amount of the total loan value was collateralized in CLAM, so both the borrowers’ positions and their collateral lost most of their value simultaneously.”

Last month, Poloniex stopped offering trading in nine coins to customers in the United States. The exchange stated that the decision was motivated by the uncertain regulatory environment in the country, “Specifically, it is not possible to be certain whether U.S. regulators will consider these assets to be securities.”

In January, independent analysts at ICORating gave 16% of the world’s biggest cryptocurrency trading platforms an A rating, including Poloniex (A-) among the top three most secure exchanges globally.

ICORating assessed 135 crypto trading platforms, all of whose daily trade value reportedly exceeds $100,000, on the basis of four security categories: user account security, registrar and domain security, web security and DoS attack protection.

#crypto #cryptocurrency #btc #xrp #litecoin #altcoin #money #currency #finance #news #alts #hodl #coindesk #cointelegraph #dollar #bitcoin View the website

New Post has been published here https://is.gd/W6RAJq

[bowsetter]

The Daily: Wall Street-Backed Crypto Futures, Market Manipulation as a Service

Cryptocurrency attracts a diverse crowd, from speculators to scammers, and from financiers to gamblers. These groups, and their often opposing aims, are what make the cryptoconomy such a strange yet compelling place. In today’s edition of The Daily, for instance, we’ve got stories pertaining to a Wall Street-funded futures exchange, another US platform ending its margin trading, a company that will trade your token to simulate demand for it, and an obligatory new stablecoin.

Also read: Six of the Best Cryptocurrency Calendars

Wall Street-Backed Crypto Exchange Erisx Announced

Nebraska-based brokerage firm TD Ameritrade is making a move into the cryptocurrency exchange game with a little help from its Wall Street friends. The brokerage big shot revealed Erisx on Wednesday, the name for the platform being spearheaded by trading veteran Thomas Chippas. Regulatory approval is being sought to list bitcoin core, bitcoin cash, ether, and litecoin futures. Chippas left his job at Citigroup to head up the project, a trend that’s been observed repeatedly in the cryptocurrency space, with traditional financiers being lured into the realm of crypto by the promise of a fresh challenge and potentially big payday.

Having closed a fundraising round backed by DRW and Virtu Financial, in addition to TD Ameritrade, the venture has attracted attention, fueled by its intention to position itself as a direct rival to Bakkt, the forthcoming cryptocurrency platform from the NYSE’s parent company. Erisx will begin by offering spot trading for cryptocurrencies before venturing into derivatives, all going well. It should be noted, however, that the “new” exchange is in fact a revamp of Eris Exchange, a derivatives platform that has failed to achieve anything of note in its eight years of operation.

Circle Drops Margin Trading

While one US exchange is dreaming of derivatives, another is shunning them. The Circle-backed Poloniex exchange has revealed that it is removing margin and lending products for its US customers. “These changes are part of our ongoing commitment to ensure that Poloniex complies with regulatory requirements in every jurisdiction,” explained Circle. In the same announcement, it was revealed that three assets will be delisted from Poloniex on October 10: AMP, EXP, and, perhaps surprisingly, gnosis (GNO).

Market Making as a Service

“What is the biggest trouble for every ICO?” asks Tokenboost. No, the answer isn’t creating a token that has genuine utility, developing a vibrant community, or devising a sound business strategy. The biggest problem, apparently, is getting listed on Coinmarketcap (CMC). That’s right: the holy grail for ICOs, apparently, is to have their token listed on a market tracker website. According to Tokenboost, CMC mandates at least $100k of daily trading volume before it will list a coin (though a quick check shows this claim to be inaccurate).

Tokenboost’s solution to this problem is to engage in market making on behalf of projects – or wash trading as some might call it. “We can take your token to the top,” they boast. “High volumes and listing on Coinmarketcap make your project more noticeable and trustworthy, attracting more partners, investors and traders. This will create a higher demand for the token and drive its price up.” At least they’re honest.

Ho Wah Genting Group Enters the Stablecoin Game

Scarcely a day goes by without a business announcing its intentions to issue a stablecoin. Ho Wah Genting Group (HWGG), an investment holding company focused on entertainment gaming, is to issue a fiat-backed stablecoin. HWG Cash will be pegged to $500 million in bank deposits and used to facilitate transactions within its entertainment business. Based on the Everitoken blockchain, the $1 coins will be exchangeable for fiat in Malaysia, where HWGG has a money broker license, and will also be accepted at a range of partner businesses including travel, retail, and cruise services.

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post The Daily: Wall Street-Backed Crypto Futures, Market Manipulation as a Service appeared first on Bitcoin News.

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[cryptonewsupdates]

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[tradecryptocoin-blog]

Bitcoin Hits $19,000 - I Simply Cannot Believe It (But I do)

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[bex-exchange-blog]

The bex.io contract lowers the threshold for differentiated operations

The bex.io contract lowers the threshold for differentiated operationsThe road to a contract is not as easy as it seems. How to form a differentiated competitive advantage has become a difficult problem in front of BEX. The first is depth and speed. The solution of bex.io is to set up a special "market depth project team" to mobilize and integrate the depth of each major market, so as to ensure the complete transaction of users to the point. "The depth of BEX is on BitMEX, sharing its market in real time, which is very high in derivatives." BEX explained to Odaily planet. In addition, as early as the launch in 2017, BEX has launched a million-level matchmaking engine, which can complete millions of orders in one second. When placing an order, it can also match the optimal order price for users, saving transaction costs. Secondly, the risk control system of the contract is the key to the survival of the exchange. At present in contract trade, quotation once big fluctuation, "insert needle", maliciously explode storehouse, wear storehouse to wait for circumstance common occurrence. "We thought we had a firm foothold in the contract space, but it turned out to be the first step in a long journey. Risk control is not good, highlight moment is just a flash in the pan. In order for users to have a long trading cycle on the platform, the risk control mechanism must be determined to change." The BEX aspect is. After the rectification, the price index of bex.io adopts Bitfinex, Binance, Poloniex, Huobi, ggate. IO and other first-line mainstream exchanges to form the price mechanism with its own algorithm. When markets move wildly, BEX strips out abnormal data. For platforms and contract varieties with insufficient depth, the delivery mode of marked price can be selected to deliver at the market average price. Users' profit and loss will not be affected by the drastic price fluctuations in the platform, thus eliminating the situation that users are "sold out" by malicious means. BEX has also promised that "users will not explode" and "share without holes". "As the risk control system of BEX contract is to force the closing of positions with a risk rate of 100% and protect the user's margin, there will be very few cases of stock penetration; Bex.io will also eliminate pin insertion, allocation and warehouse penetration. That's why we now have a contract exchange where we have almost no customer complaints."

[legit-scam-review]

Over-the-Counter Trading as the Latest Battleground to Secure Institutional Investment

With the increasing trend for major financial institutions to invest in Bitcoin, United States crypto exchange and wallet provider Coinbase announced the launch of over-the-counter (OTC) trading for institutional customers on Nov. 27.

OTC trading allows investors to carry out direct trades with each other. It means that the company’s institutional users won’t be trading through a crypto exchange or an intermediary.

Coinbase’s latest trading initiative began on June 6, when President and COO Asiff Hirji explained that obtaining a regulatory license would enable the company to set off on a “path to offer future services that include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products.”

Coinbase is not the only cryptocurrency exchange that has cottoned on to the potential benefits of attracting the ever-growing customer base of institutional investors.

On Dec. 4, U.S.-based cryptocurrency exchange Poloniex also reported the launch of their own institutional service. Much like its competitor, Coinbase, Poloniex is steadily increasing the number of services it offers to customers. As previously reported by Cointelegraph, institutional customers looking to use Poloniex’s dedicated accounts will be able to do so, subject to a minimum trade of $250,000. Poloniex is currently the 47th-largest crypto exchange in the world by trade volume. The company’s blog post claimed that:

“Institutions large and small can enjoy the benefits of […] [a] large curated selection of crypto asset trading pairs, dedicated support and robust API services. […] Poloniex is focused on meeting the advanced trading needs of institutions.”

Russia’s state-owned bank Sberbank carries out major OTC transaction

Other financial players around the world are also looking for innovation opportunities.

On Nov. 30, 2018, Sberbank, Russia’s state-owned banking and financial services company, and Interros, a Moscow-based conglomerate, processed an OTC foreign exchange repurchase agreement transaction using smart contracts via blockchain, Reuters reports.

Although the scale or value of the transaction are yet to be publicly disclosed, Head of Global Markets and Vice President at Sberbank Andrei Shemetov indicated that “the amount corresponded to the average volume of the interdealer repo transaction.”

Shemetov also told Reuters that the deal was fully legally binding and was “concluded in electronic format using a smart contract and digital signature through the IT platform of Sberbank.” The article reports that the smart contracts used in the transaction have been written in the Go programming language and were deployed on the Hyperledger Fabric Platform, a system that allows for real-time monitoring of “covenants and other market conditions.” Shemetov is also bullish on future prospects for blockchain to improve services offered by the bank:

“In the long term, the conclusion of transactions through the blockchain platform will reduce transaction costs and errors through automation, as well as increase transparency and trust among all participants in the financial market.”

This is not the first time that Sberbank has been associated with a progressive outlook on both crypto and blockchain technology. Earlier this year, Sberbank CEO Herman Gref stated his belief that blockchain would be implemented across the sector on an industrial scale in one or two years. Prior this, Gref has consistently displayed interest in cryptocurrency, in spite of Russia’s chequered past with crypto in general.

MVIS launches Bitcoin index based on major OTC desks

Another company to jump on the OTC bandwagon is MV Index Solutions, a subsidiary of VanEck that develops, monitors and licenses MVIS indices. MV Index Solutions launched its Bitcoin index based on three major OTC desks in November.

MVIS Indices cover multiple asset classes, including fixed income markets, digital assets and equity. The MVIS Bitcoin U.S. OTC Spot Index (MVBTCO) draws on feeds from major OTC liquidity providers, including Circle Trade, Genesis Trading and Cumberland.

The VanEck’s Director of Digital Asset Strategies, Gabor Gurbacs, expressed his belief that their new OTC index would benefit the ongoing trend in the crypto market:

“The index may pave the way for institutionally oriented products, such as ETFs [exchange-traded funds] as well as provide further tools to institutional investors to execute institutional[-]size trades at transparent prices on the OTC markets.”

Institutional trend continues to grow

On Oct. 31, Morgan Stanley, a multinational investment bank and financial services company, released their most recent report on Bitcoin, entitled “Update: Bitcoin, Cryptocurrencies and Blockchain.”

The report documents how major financial players capitalized on the stablecoin trend, along with how central banks and regulators are gradually warming up to the idea of more mainstream adoption both of Bitcoin and of blockchain technology as a whole. Along with the new classification of Bitcoin as an institutional investment class, the institutional trend is also spreading out into the benefits of OTC trading.

Bloomberg reported how institutional investors replaced high-networth players as the biggest buyers of cryptocurrency transactions over $100,000 and how the possibility to conduct OTC trades has drawn in hedge funds, injecting huge amounts of capital into the market. According to findings from Digital Assets Research and TABB Group, the OTC market brought in between $250 million to $30 billion in trades per day in April.

Improvements in trading through exchanges are, however, being made. In November, the Depository Trust & Clearing Corporation (DTCC) announced its replatforming of its Trade Information Warehouse using distributed ledger technology. The project involved significant work in improving the scalability of blockchain in dealing with large- and high-volume transactions on exchanges.

Known as “Wall Street’s bookkeeper,” the DTCC accounts for 98 percent of derivatives transactions worldwide, including around 40 million OTC transactions weekly and 1 billion communications monthly.

Jennifer Peve, managing director of business development and fintech strategy at the DTCC, stated that increased scalability was beyond initial expectations and that their replatforming would help build confidence in the sector.

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The post Over-the-Counter Trading as the Latest Battleground to Secure Institutional Investment appeared first on Review: Legit or Scam?.

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Judge Lifts Order to Freeze Charlie Shrem’s Assets in Winklevoss Case

Early bitcoin supporter and entrepreneur Charlie Shrem has won his first battle in an ongoing lawsuit filed against him by Tyler and Cameron Winklevoss and their firm, Winklevoss Capital Fund.

According to a court document filed Thursday by federal Judge Jed Rakoff, of the U.S. District Court for the Southern District of New York, a $30 million attachment initially granted against Shrem was lifted after a hearing earlier in the day.

The attachment order, which was granted on Oct. 2 but remained under seal until Oct. 26, allowed the U.S. Marshal for the Southern District to freeze assets belonging to Shrem.

The order included instructions for Xapo, Coinbase, Poloniex, Bittrex and other exchanges and financial institutions to freeze any assets up to 5,000 bitcoin or their equivalent value that they had in their possession which belonged to Shrem.

Not that there would have been much to freeze from those companies. Coinbase, Xapo, Digital Asset Holdings, Branch Banking and Trust Company, Noble Markets and ItBit all submitted statements saying they did not have any funds belonging to Shrem, while Poloniex (part of Circle Internet Financial) said it held $0.41 in bitcoin in an account belonging to Shrem, and Bittrex held roughly $4.44 combined in bitcoin and a fork currency called bitcoin gold.

“After careful consideration, the Court denies plaintiff’s motion to confirm the order of attachment and therefore lifts the attachment currently in place, effective immediately,” Judge Rakoff wrote Thursday.

“An opinion explaining the reasons for this ruling will issue in due course,” he added, though he did not provide a timeline for when that opinion may be issued. No further documents were publicly available as of press time.

Brian Klein, an attorney representing Shrem, told CoinDesk via email that the ruling “is an important first step towards [Shrem’s] complete vindication.”

“We are very pleased the judge ruled in [Shrem’s] favor, dissolving the $30 million-plus attachment order after he heard extensive argument from both sides earlier today,” he wrote.

Going to trial

The matter is not ending, however: a separate filing indicates that the case will proceed to a jury trial on April 8, 2019.

A case management plan notes that the parties to the case have until Nov. 15 to amend any pleadings, request documents and file any questions they may have.

The plan further notes that expert witnesses must submit any legally mandated disclosures by February or March, depending on whether they intend to support a claim or oppose a claim, respectively.

Cameron and Tyler Winklevoss, as well as the Winklevoss Capital Fund, did not immediately respond to a request for comment.

The Winklevoss Capital Fund sued Shrem in September, alleging he withheld 5,000 bitcoin he was supposed to purchase on behalf of the Winklevoss brothers. This suit was unsealed in late October.

Shrem has maintained that these accusations are false.

Winklevoss brothers image via JStone / Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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The post Judge Lifts Order to Freeze Charlie Shrem’s Assets in Winklevoss Case appeared first on Click 2 Watch.

More Details Here → https://click2.watch/judge-lifts-order-to-freeze-charlie-shrems-assets-in-winklevoss-case

[itsblockchain-posts]

U.S.-based cryptocurrency exchange platform Poloniex will remove margin and lending products for its customers in the U.S and delist three digital assets, according to an announcement published October 3. Poloniex is a cryptocurrency trading platform founded in 2014 and designed as a digital-currency-to-digital-currency exchange. In 2018, Poloniex was acquired by Dublin-based payments technology firm Circle for $400 million. Currently, Poloniex is ranked 38th by the adjusted trading value, according to CoinMarketCap. According to the statement, the exchange will remove its margine and lending products for U.S.-based customers by the end of this year. Poloniex explains that the move has been taken to ensure the exchange complies with regulatory requirements in every jurisdiction. The announcement did not refer directly to any specific regulations. Additionally, Poloniex will reportedly delist three cryptocurrencies; Synereo (AMP), Expanse (EXP), and Gnosis (GNO) on October 10, so customers will have to desist any trades and withdraw any balances in these assets. In July, the Delaware Department of Justice (DoJ) investigated Poloniex after the exchange’s social media and support center accounts were besieged by users who had been locked out of their accounts. In May, a number of customers reportedly started receiving emails in which Poloniex required them to verify their account within 14 days. After that, the unverified accounts were frozen. Poloniex users further took to the exchange’s unofficial subreddit, complaining about missing or “stuck deposits.” One poster said the amount of complaints led him to shut down his account, despite not being directly affected.

[bitsevenenglish-blog]

Breaking: NY AG Alleges Bitcoin Exchange Misused Tether to Hide $850M/ bitcoin exchange,Cryptocurrency exchange,FX Margin bitflyer,CoinMarketCap,poloniex,bitfinex

The office of New York Attorney General Letitia James has officially obtained a court order to request iFinex Inc, the operator of bitcoin exchange Bitfinex and Tether, to cease operations in New York. The Attorney General’s office found that Bitfinex allegedly handed over $850 million in co-mingled client and corporate funds to Crypto Capital Corp, a company based in Panama. Bitfinex is said to have never received the funds from the Panamanian firm, leading to the loss of more than $850 million. The Attorney General’s office alleged Bitfinex granted itself access to Tether’s treasury and mismanaged $900 million of the stablecoin’s cash reserves to “hide” the loss of $850 million. Attorney General James said: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘Tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds. New York state has led the way in requiring virtual currency businesses to operate according to the law. And we will continue to stand-up for investors and seek justice on their behalf when misled or cheated by any of these companies.” HOW DID IT HAPPEN? The core problem with Tether is that it does not issue public audits like strictly regulated stablecoins such as Gemini Dollar and Circle’s USDC. As a result, investors are unaware of what the potential “receivables” could be and the dealings of Tether. A public audit would have forced Tether to disclose the alleged $900 million transactions initiated by Bitfinex had it been recorded on the financials of Tether Limited. However, after Bitfinex allegedly sent $850 million to Crypto Capital Corp and did not get it back, it did not disclose the loss to investors and relied on Tether, which the New York Attorney General described as a “cover-up.” The filings explain how Bitfinex no longer has access to more than $850 million dollars of co-mingled client and corporate funds that it handed over, without any written contract or assurance, to a Panamanian entity called ‘Crypto Capital Corp.,’ a loss Bitfinex never disclosed to investors.  In order to fill the gap, executives of Bitfinex and Tether engaged in a series of conflicted corporate transactions whereby Bitfinex gave itself access to up to $900 million of Tether’s cash reserves, which Tether for years repeatedly told investors fully backed the tether virtual currency ‘1-to-1,’ the document read. LACK OF PUBLIC AUDITS HAS ALWAYS BEEN A PROBLEM FOR TETHER Since its creation in 2014, for more than five years, Tether has been a subject to consistent criticism from both investors and experts in the cryptocurrency sector for its lack of public audits. Last month, CCN spoke to iFinex, the company that oversees Tether, about its new Terms of Service which read that every USDT is backed by cash and other receivables, but not 100% in cash. “Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”),” the altered Terms of Service read. Kasper Rasmussen, the director of marketing at iFinex, told CCN that Tether is still 100% backed even though it may include other assets. “Tethers remain completely stable and 100% backed, so Tether’s reserves always equal or exceed the number of issued Tethers. The only change is that the composition of the assets that provide that backing includes a combination of cash, cash equivalents, and may also include other assets or receivables from loans issued by Tether,” Rasmussen said. HOW DOES AFFECT BITCOIN? Immediately after the release of the New York Attorney General’s report, the bitcoin price fell below $5,400, indicating a dip in the confidence of the crypto market.

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[cryptoquicknews-blog]

New Post has been published here https://is.gd/E6RZnp

Over-the-Counter Trading as the Latest Battleground to Secure Institutional Investment

This post was originally published here

With the increasing trend for major financial institutions to invest in Bitcoin, United States crypto exchange and wallet provider Coinbase announced the launch of over-the-counter (OTC) trading for institutional customers on Nov. 27.

OTC trading allows investors to carry out direct trades with each other. It means that the company’s institutional users won’t be trading through a crypto exchange or an intermediary.

Coinbase’s latest trading initiative began on June 6, when President and COO Asiff Hirji explained that obtaining a regulatory license would enable the company to set off on a “path to offer future services that include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products.”

Coinbase is not the only cryptocurrency exchange that has cottoned on to the potential benefits of attracting the ever-growing customer base of institutional investors.

On Dec. 4, U.S.-based cryptocurrency exchange Poloniex also reported the launch of their own institutional service. Much like its competitor, Coinbase, Poloniex is steadily increasing the number of services it offers to customers. As previously reported by Cointelegraph, institutional customers looking to use Poloniex’s dedicated accounts will be able to do so, subject to a minimum trade of $250,000. Poloniex is currently the 47th-largest crypto exchange in the world by trade volume. The company’s blog post claimed that:

“Institutions large and small can enjoy the benefits of […] [a] large curated selection of crypto asset trading pairs, dedicated support and robust API services. […] Poloniex is focused on meeting the advanced trading needs of institutions.”

Russia’s state-owned bank Sberbank carries out major OTC transaction

Other financial players around the world are also looking for innovation opportunities.

On Nov. 30, 2018, Sberbank, Russia’s state-owned banking and financial services company, and Interros, a Moscow-based conglomerate, processed an OTC foreign exchange repurchase agreement transaction using smart contracts via blockchain, Reuters reports.

Although the scale or value of the transaction are yet to be publicly disclosed, Head of Global Markets and Vice President at Sberbank Andrei Shemetov indicated that “the amount corresponded to the average volume of the interdealer repo transaction.”

Shemetov also told Reuters that the deal was fully legally binding and was “concluded in electronic format using a smart contract and digital signature through the IT platform of Sberbank.” The article reports that the smart contracts used in the transaction have been written in the Go programming language and were deployed on the Hyperledger Fabric Platform, a system that allows for real-time monitoring of “covenants and other market conditions.” Shemetov is also bullish on future prospects for blockchain to improve services offered by the bank:

“In the long term, the conclusion of transactions through the blockchain platform will reduce transaction costs and errors through automation, as well as increase transparency and trust among all participants in the financial market.”

This is not the first time that Sberbank has been associated with a progressive outlook on both crypto and blockchain technology. Earlier this year, Sberbank CEO Herman Gref stated his belief that blockchain would be implemented across the sector on an industrial scale in one or two years. Prior this, Gref has consistently displayed interest in cryptocurrency, in spite of Russia’s chequered past with crypto in general.

MVIS launches Bitcoin index based on major OTC desks

Another company to jump on the OTC bandwagon is MV Index Solutions, a subsidiary of VanEck that develops, monitors and licenses MVIS indices. MV Index Solutions launched its Bitcoin index based on three major OTC desks in November.

MVIS Indices cover multiple asset classes, including fixed income markets, digital assets and equity. The MVIS Bitcoin U.S. OTC Spot Index (MVBTCO) draws on feeds from major OTC liquidity providers, including Circle Trade, Genesis Trading and Cumberland.

The VanEck’s Director of Digital Asset Strategies, Gabor Gurbacs, expressed his belief that their new OTC index would benefit the ongoing trend in the crypto market:

“The index may pave the way for institutionally oriented products, such as ETFs [exchange-traded funds] as well as provide further tools to institutional investors to execute institutional[-]size trades at transparent prices on the OTC markets.”

Institutional trend continues to grow

On Oct. 31, Morgan Stanley, a multinational investment bank and financial services company, released their most recent report on Bitcoin, entitled “Update: Bitcoin, Cryptocurrencies and Blockchain.”

The report documents how major financial players capitalized on the stablecoin trend, along with how central banks and regulators are gradually warming up to the idea of more mainstream adoption both of Bitcoin and of blockchain technology as a whole. Along with the new classification of Bitcoin as an institutional investment class, the institutional trend is also spreading out into the benefits of OTC trading.

Bloomberg reported how institutional investors replaced high-networth players as the biggest buyers of cryptocurrency transactions over $100,000 and how the possibility to conduct OTC trades has drawn in hedge funds, injecting huge amounts of capital into the market. According to findings from Digital Assets Research and TABB Group, the OTC market brought in between $250 million to $30 billion in trades per day in April.

Improvements in trading through exchanges are, however, being made. In November, the Depository Trust & Clearing Corporation (DTCC) announced its replatforming of its Trade Information Warehouse using distributed ledger technology. The project involved significant work in improving the scalability of blockchain in dealing with large- and high-volume transactions on exchanges.

Known as “Wall Street’s bookkeeper,” the DTCC accounts for 98 percent of derivatives transactions worldwide, including around 40 million OTC transactions weekly and 1 billion communications monthly.

Jennifer Peve, managing director of business development and fintech strategy at the DTCC, stated that increased scalability was beyond initial expectations and that their replatforming would help build confidence in the sector.

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New Post has been published here https://is.gd/E6RZnp

[theinvinciblenoob]

Crypto skeptics rejoice! A new way to short the cryptocurrency market is coming from dYdX, a decentralized financial derivatives startup. In two months it will launch its protocol for creating short and leverage positions for Ethereum and other ERC20 tokens that allow investors to amp up their bets for or against these currencies.

To get the startup there, Dydx recently closed a $2 million seed round led by Andreessen Horowitz and Polychain, and joined by Kindred and Abstract plus angels including Coinbase CEO Brian Armstrong and co-founder Fred Ehrsam, and serial investor Elad Gil.

“The main use for crypotocurrency so far has been trading and speculation — buying and holding. That’s not how sophisticated financial institutions trade” says Dydx founder Antonio Juliano. “The derivatives market is usually an order of magnitude bigger than the spot trading or buy/sell market. The cryptocurrency market is probably on the order of $5 billion to $10 billion in volume, so you’d expect the derivatives market would be 10X bigger. I think there’s a really big opportunity there.”

How dYdX works

The idea is that you buy the Short Ethereum token with ETH or a stable coin from an exchange or dYdX. The Short Ethereum’s token price is inversely pegged to ETH, so it goes up in value when ETH goes down and vice versa. You can then sell the Short Ethereum token for a profit if you correctly predicted an ETH um price drop.

On the backend, lenders earn an interest rate by providing ETH as collateral locked into smart contracts that back up the Short Ethereum tokens. Only a small number of actors have to work with the smart contract to mint or close the Short Tokens. Meanwhile, dYdX also offers Leveraged Ethereum tokens that let investors borrow to boost their profits if ETH’s price goes up.

The plan is to offer Short and Leveraged tokens for any ERC20 currency in the future. dYdX is building its own user facing application for buying the tokens, but is also partnering with exchanges to offer the margin tokens “where people are already trading” says Juliano.

“We think of it as more than just shorting your favorite shitcoin. We think of them as mature financial products.”

Infrastructure To Lure Big Funds Into Crypto

Coinbase has proven to be an incredible incubator for blockchain startup founders. Juliano was employed there as a software engineer after briefly working at Uber and graduating in computer science from Princeton in 2015. “The first thing I started was a search engine for decentralized apps. I worked for months on it full-time, but nobody was building decentralized apps so no one was searching for them. It was too early” Juliano explains.

But along the way he noticed the lack of financial instruments for decentralized derivatives despite exploding consumer interest in buying and selling cryptocurrencies. He figured the big hedge funds would eventually come knocking if someone built them a bridge into the blockchain world.

Juliano built dYdX to create a protocol to first begin offering margin tokens. It’s open source, so technically anyone can fork it to issue tokens themselves. But dYdX plans to be the standard bearer, with its version offering the maximum liquidity to investors trying to buy or sell the margin tokens. His five person team in San Francisco with experience from Google, Bloomberg, Goldman Sachs, NerdWallet, and Consensys is working to find as many investors to collateralize the tokens and exchanges to trade them as possible. “It’s a race to build liquidity faster than anyone else” says Juliano.

So how will dYdX make money? As is common in crypto, Juliano isn’t exactly sure, and just wants to build up usage first. “We plan to capture value at the protocol level in the future likely through a value adding token” the founder says. “It would’ve been easy for us to rush into adding a questionable token as we’ve seen many other protocols do, however we believe it’s worth thinking deeply about the best way to integrate a token in our ecosystem in a way that creates rather than destroys value for end users.”

“Antonio and his team are among the top engineers in the crypto ecosystem building a novel software system for peer-to-peer financial contracts. We believe this will be immensely valuable and used by millions of people” says Polychain partner Olaf Carlson-Wee. “I am not concerned with short-term revenue models but rather the opportunity to permanently improve global financial markets.”

Timing The Decentralized Revolution

With the launch under two months away, Juliano is also racing to safeguard the protocol from attacks. “You have to take smart contract security extremely seriously. We’re almost done with the second independent security audit” he tells me.

The security provided by decentralization is one of dYdX’s selling points versus centralized competitors like Poloniex that offer margin trading opportunities. There, investors have to lock up ETH as collateral for extended periods of time, putting it at risk if the exchange gets hacked, and they don’t benefit from shared liquidity like dYdX will.

It could also compete for crypto haters with the CBOE that now offers Bitcoin futures and margin trading, though it doesn’t handle Ethereum yet. Juliano hopes that since dYdX’s protocol can mint short tokens for other ERC20 tokens, you could bet for or against a certain cryptocurrency relative to the whole crypto market by mixing and matching. dYdX will have to nail the user experience and proper partnerships if it’s going to beat the convenience of centralized exchanges and the institutional futures market.

If all goes well, dYdX wants to move into offering auctions or swaps. “Those derivatives are more often traded by sophisticated traders. We don’t think there are to many traders like that in the market right now” Juliano explains. “The other types of derivatives that we’ll move to in the future will be really big once the market matures.” That ‘once the market matures’ refrain is one sung by plenty of blockchain projects. The question is who’ll survive long enough to see that future, if it ever arrives.

[Featured Image via Nuzu and Bryce Durbin]

via TechCrunch

[victoriagloverstuff]

Andreessen-funded dYdX plans “short Ethereum” token for haters – TechCrunch

Crypto skeptics rejoice! A new way to short the cryptocurrency market is coming from dYdX, a decentralized financial derivatives startup. In two months it will launch its protocol for creating short and leverage positions for Ethereum and other ERC20 tokens that allow investors to amp up their bets for or against these currencies.

To get the startup there, Dydx recently closed a $2 million seed round led by Andreessen Horowitz and Polychain, and joined by Kindred and Abstract plus angels including Coinbase CEO Brian Armstrong and co-founder Fred Ehrsam, and serial investor Elad Gil.

“The main use for crypotocurrency so far has been trading and speculation — buying and holding. That’s not how sophisticated financial institutions trade” says Dydx founder Antonio Juliano. “The derivatives market is usually an order of magnitude bigger than the spot trading or buy/sell market. The cryptocurrency market is probably on the order of $5 billion to $10 billion in volume, so you’d expect the derivatives market would be 10X bigger. I think there’s a really big opportunity there.”

How dYdX works

The idea is that you buy the Short Ethereum token with ETH or a stable coin from an exchange or dYdX. The Short Ethereum’s token price is inversely pegged to ETH, so it goes up in value when ETH goes down and vice versa. You can then sell the Short Ethereum token for a profit if you correctly predicted an ETH um price drop.

On the backend, lenders earn an interest rate by providing ETH as collateral locked into smart contracts that back up the Short Ethereum tokens. Only a small number of actors have to work with the smart contract to mint or close the Short Tokens. Meanwhile, dYdX also offers Leveraged Ethereum tokens that let investors borrow to boost their profits if ETH’s price goes up.

The plan is to offer Short and Leveraged tokens for any ERC20 currency in the future. dYdX is building its own user facing application for buying the tokens, but is also partnering with exchanges to offer the margin tokens “where people are already trading” says Juliano.

“We think of it as more than just shorting your favorite shitcoin. We think of them as mature financial products.”

Infrastructure To Lure Big Funds Into Crypto

Coinbase has proven to be an incredible incubator for blockchain startup founders. Juliano was employed there as a software engineer after briefly working at Uber and graduating in computer science from Princeton in 2015. “The first thing I started was a search engine for decentralized apps. I worked for months on it full-time, but nobody was building decentralized apps so no one was searching for them. It was too early” Juliano explains.

But along the way he noticed the lack of financial instruments for decentralized derivatives despite exploding consumer interest in buying and selling cryptocurrencies. He figured the big hedge funds would eventually come knocking if someone built them a bridge into the blockchain world.

Juliano built dYdX to create a protocol to first begin offering margin tokens. It’s open source, so technically anyone can fork it to issue tokens themselves. But dYdX plans to be the standard bearer, with its version offering the maximum liquidity to investors trying to buy or sell the margin tokens. His five person team in San Francisco with experience from Google, Bloomberg, Goldman Sachs, NerdWallet, and Consensys is working to find as many investors to collateralize the tokens and exchanges to trade them as possible. “It’s a race to build liquidity faster than anyone else” says Juliano.

So how will dYdX make money? As is common in crypto, Juliano isn’t exactly sure, and just wants to build up usage first. “We plan to capture value at the protocol level in the future likely through a value adding token” the founder says. “It would’ve been easy for us to rush into adding a questionable token as we’ve seen many other protocols do, however we believe it’s worth thinking deeply about the best way to integrate a token in our ecosystem in a way that creates rather than destroys value for end users.”

“Antonio and his team are among the top engineers in the crypto ecosystem building a novel software system for peer-to-peer financial contracts. We believe this will be immensely valuable and used by millions of people” says Polychain partner Olaf Carlson-Wee. “I am not concerned with short-term revenue models but rather the opportunity to permanently improve global financial markets.”

Timing The Decentralized Revolution

With the launch under two months away, Juliano is also racing to safeguard the protocol from attacks. “You have to take smart contract security extremely seriously. We’re almost done with the second independent security audit” he tells me.

The security provided by decentralization is one of dYdX’s selling points versus centralized competitors like Poloniex that offer margin trading opportunities. There, investors have to lock up ETH as collateral for extended periods of time, putting it at risk if the exchange gets hacked, and they don’t benefit from shared liquidity like dYdX will.

It could also compete for crypto haters with the CBOE that now offers Bitcoin futures and margin trading, though it doesn’t handle Ethereum yet. Juliano hopes that since dYdX’s protocol can mint short tokens for other ERC20 tokens, you could bet for or against a certain cryptocurrency relative to the whole crypto market by mixing and matching. dYdX will have to nail the user experience and proper partnerships if it’s going to beat the convenience of centralized exchanges and the institutional futures market.

If all goes well, dYdX wants to move into offering auctions or swaps. “Those derivatives are more often traded by sophisticated traders. We don’t think there are to many traders like that in the market right now” Juliano explains. “The other types of derivatives that we’ll move to in the future will be really big once the market matures.” That ‘once the market matures’ refrain is one sung by plenty of blockchain projects. The question is who’ll survive long enough to see that future, if it ever arrives.

Cool read from TC Source Link

[tradecryptocoin-blog]

How To Trade Bitcoin & Altcoins - Beginner Level (Part 2)

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