#CryptoCorner: SEC Delays 3 BTC Proposals, Bitfury Launches AI Unit, Bitex Partners with Bantotal for Latin American Payments and #Crypto Derivatives Exchange Blade Raises $4.3 Million
#CryptoCorner: SEC Delays 3 BTC Proposals, Bitfury Launches
AI Unit, Bitex Partners with Bantotal for Latin American Payments and #Crypto
Derivatives Exchange Blade Raises $4.3 Million
Point Roberts, WA, Delta BC August 13, 2019
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August
13
Crypto Corner
The U.S. Securities
and Exchanges Commission (SEC) has delayed making a decision on three different
Bitcoin (BTC) exchange-traded
funds yesterday. Specifically, the SEC has postponed proposed rule changes by
NYSE Arca and CBOE BZX Exchange for the asset managers VanEck
SolidX,
Bitwise
Asset Management
and Wilshire
Phoenix.
Unless further delays are instigated, Wilshire Phoenix will be the first
decided upon on September 29, with Bitwise and VanEck following on October 13
and 19, respectively. For either proposal, the Commission stated:
The Commission finds it appropriate to designate a
longer period within which to issue an order approving or disapproving the
proposed rule change so that it has sufficient time to consider this proposed
rule change.
Reuters reports that
blockchain firm Bitfury has launched an artificial intelligence (AI) division.
In an interview with the publication, company co-founder and CEO Valery Vavilov
explained that an increasing volume of data was the impetus for adding AI.
“Data is becoming the next oil. We have collected so
much data, but only 2% of all this data has been analyzed; 98% is sitting idle
and waiting to be analyzed.”
“We also need to trust that data so that’s where
blockchain comes in.”
Crypto exchange
Bitex is partnering with banking technology provider Bantotal to allow
cross-border payments in Latin America, according to a report from CoinDesk. Bantotal services
over 60 different financial institutions across 14 different countries, with a
reach of 20 million customers. Through the partnership, Bitex services will now
be available to those customers directly with Bantotal, through the latter’s
BDevelopers program. The piece quotes Lisa Nestor, the Stellar Development
Foundation’s director of partnerships:
“We think this announcement further validates the value
financial institutions are recognizing in digital assets and distributed ledger
technology for executing core banking activities, like international payments.
It’s also no coincidence these product partnerships are being launched in the
[Latin American] market where cross-border payments, even in neighboring
nations, can be slow and expensive.”
TechCrunch reports that
crypto derivatives exchange Blade has raised $4.3 million USD in seed funding
from various investors, including exchange giant Coinbase. Blade launches in
three weeks and will focus on perpetual swaps. The article describes perpetuals
as “a crypto-native trading instrument” that “allow traders to bet on the
future values of cryptocurrencies in relation to another and the instruments have
no expiration dates, unlike fixed maturity futures”. Blade CEO Jeff Byun said:
“In the long term, we want to be the CME (Chicago
Mercantile Exchange) of crypto. Coinbase and Binance are building this
foundational structure for crypto, but I think we are too and in a sense that
derivatives are at their core about risk transfer, we want to be building the
foundational layer for risk transfer in the crypto markets.”
Sam Mowers,
Investorideas
Read other editions of the
Crypto Corner
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