Another Major Investment Firm Says Bitcoin ETF Not Likely in 2018

Canaccord, the biggest investment firm in Canada, has said that the approval of a Bitcoin exchange-traded fund (ETF) is highly unlikely in 2018. In an official report entitled “Blockchain and Digital Assets: US Equity Research” Canaccord researchers Michael Graham and Scott Suh wrote: “And although the VanEck SolidX Bitcoin Trust, seen by many as the most formidable candidate for a potential approval, is due for a potential decision as early as this month, it is largely believed that the SEC will extend its deadline, in which case a decision may…

Bitcoin Price Slips Below Crucial $6,800 Support Level

The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTC’s short-term prospects. Bitcoin had spent the majority of the day trading above the $7,000 mark. However, as CCN reported, the market has been plagued by low volume in recent days, which is often an indication of a short-term bearish trend. At 19:30 UTC, the bitcoin price took a major downward pivot, falling from $7,100 to…

Omniex Appoints Former SEC and FDIC Execs to Board of Advisors

Institution-oriented crypto trading platform Omniex has expanded its staff with high profile experts, including former execs of major U.S. financial regulators, according to a press release Aug. 7. Omniex has appointed former U.S. Securities and Exchange Commission (SEC) chairman Arthur Levitt and Federal Deposit Insurance Corp (FDIC) chair Sheila Bair as members of the board of advisors. The cryptocurrency trading firm also announced that Maartje Bus, former head of capital markets at Thomson Reuters, has joined Omniex as director of strategic partnerships, while Tom Eidt, former head of KCG’s regulatory…

Crypto Daily News | Barclays Denies Cryptocurrency Projects & BTC ATMs

In today’s edition of Crypto Daily News, we’ll cover Barclays’ denial of any form of cryptocurrency projects, the number of Bitcoin (BTC) ATMs currently distributed around the world, and Ethereum Classic’s status on Coinbase Pro. Crypto Daily News: August 7th, 2018 Barclays’ Crypto Denial Large UK-based bank Barclays has just denied that it is working on any cryptocurrency products. Business Insider reported yesterday that two of its employees via LinkedIn have listed crypto-related duties on their profiles. Both Matthieu Jobbe Duval and Chris Tyrer have digital assets in their titles…

Bitmain Hits $15 Billion Valuation With Recent Backing From Uber’s Largest Shareholder

Bitcoin (BTC) mining behemoth Bitmain is now valued at $15 billion after closing a pre-Initial Public Offering (IPO) funding round with backing from high-profile investors, QQ News reported August 4. The fresh financing deal, which is said to have closed on Saturday, notably includes investments from Chinese tech conglomerate Tencent and Japan’s Softbank, another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder. Tencent, meanwhile, is the developer of China’s dominant social media platform WeChat, which has over 1 billion global users and outstripped…

‘Unhackable’ Wallet Bitfi Denies It Has Been Hacked

In July, cryptocurrency hardware wallet manufacturer Bitfi’s executive chairman, John McAfee, claimed that Bitfi was “the world’s first unhackable device,” urging security experts to breach its security for a $100,000 bounty. Since then, a number of reports emerged that suggested Bitfi is not, in fact, “unhackable,” only to be dismissed by the wallet service as well as McAfee himself, steadily making the bounty hunt seem like a tasteless PR stunt. What is Bitfi? Essentially, Bitfi is a physical device — or a ‘hardware’ wallet — supporting “an unlimited amount of…

Chamber of Digital Commerce Report, Reviewed

On July 30, the Chamber of Digital Commerce (CDC) Token Alliance published a 108-page collaborative report of proposed guidelines for the “responsible growth” of the cryptocurrency market. In the accompanying press release, CDC member Paul Atkins, CEO of Patomak Global Partners and former U.S. Securities and Exchange Commission (SEC) Commissioner, argued that guidelines are needed for the smart regulation that “strikes the right balance between protecting investors while allowing for innovation in this new technological frontier.” What is Chamber of Digital Commerce? The CDC is a U.S.-based advocacy group that…

SEC Delays VanEck-SolidX Bitcoin ETF Decision to September

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on a proposed bitcoin ETF, pushing its final determination ahead by more than a month. In an order published on August 7, officials at the agency wrote that they were giving themselves more time to deliberate on whether to approve what would be the first exchange-traded product of its kind in the U.S. It’s also perhaps unsurprising, given that in the past, SEC officials have used the agency’s statutory powers to push back decisions on bitcoin ETFs in the…

KB Financial Group Report Finds Only 2% of South Koreans Interested in Crypto Investing

South Korean financial holding company KB Financial Group Inc. has released an Aug. 6  report on crypto investments in 2018, finding the majority of domestic respondents revealed no intention to invest in crypto. KB Financial Group Inc. is headquartered in Seoul, South Korea and focuses on a range of banking and related financial services. Their survey involved 600 households that had financial assets of more than KRW 500 million (around $447,000) from April to May, as well as 400 respondents with over KRW 1 billion in financial assets (around $894,000).…

IOTA Price Sinks 10% as Wider Market Plots Tepid Recovery

The IOTA price declined approximately 10 percent on Tuesday, even as the wider cryptocurrency market made a tepid recovery from its weekend lows. IOTA Price Posts Worst Performance Among Top-25 Cryptocurrencies Tuesday brought a moderate recovery to the cryptocurrency market, enabling the bitcoin price to put some breathing room between it and the crucial $6,800 support level. The majority of other large-cap coins and tokens saw similar price movements, generally rising between one and two percent for the day. IOTA, however, was not invited to the party. Despite entering the…