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Tuesday, October 1, 2019

#CryptoCorner: Bakkt (NYSE: $ICE) Off to a Slow Start?, Revolut Partners with Visa (NYSE: $V) for Expansion, HIVE (TSXV: $HIVE.V) Reports Q4


#CryptoCorner: Bakkt (NYSE: $ICE) Off to a Slow Start?, Revolut Partners with Visa (NYSE: $V) for Expansion, HIVE (TSXV: $HIVE.V) Reports Q4

BIG Blockchain Intelligence (CSE: $BIGG.C) Scores QLUE Contract with US Federal Gov’t




Point Roberts, WA, Delta BC October 1, 2019 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .




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October 1 Crypto Corner

Stocks discussed: (NYSE:ICE) (NasdaqGS:CME) (NYSE:V) (TSXV:HIVE) (CSE:BIGG)

Bakkt, the digital asset platform founded by Intercontinental Exchange (NYSE:ICE), only generated $5 million USD in trading volume for its bitcoin futures exchange service last week, according to a report from CoinDesk. Monthly and daily futures trading debuted on September 23, and 623 monthly bitcoin futures contracts – each representing one bitcoin (BTC) – changed hands last week. The report contrasts this with the 4,099 bitcoin futures contracts traded on Friday alone at rival Chicago-based exchange operator CME Group (NasdaqGS:CME), whose contracts represent five bitcoins each and making for a trading volume of $165 million that one day.

Digital banking and fintech firm Revolut has partnered with Visa (NYSE:V) to drive the former’s expansion into five new regions, reaching 24 new markets, for a total of 56 markets globally. Among Revolut’s services is a currency exchange that supports cryptocurrency trading. Nikolay Storonsky, founder and chief executive officer, Revolut, commented:

“We are excited to build upon our existing collaboration with Visa, the world’s leader in digital payments, which will bring to life our shared vision for seamless, innovative payment experiences. The new global agreement with Visa is timely for Revolut as we move into a number of new markets to offer even more consumers the control, flexibility and innovative features that our European customers have been benefiting from for years.”

Coinbase, along with several other industry leaders, has founded the Crypto Rating Council, according to a blog post yesterday. The stated aim of the Council is to “assist market participants that trade or support crypto assets to comply with U.S. federal securities laws”.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) yesterday announced its fourth quarter and full year end results. Among the highlights are the firm’s 143 percent increase in revenue generated from mining digital currencies, totalling $31.8 million. HIVE also increased its mining capacity over the prior year by 318% through the addition of data centre equipment and also diversified its production range with the addition of cloud-based Bitcoin mining. Frank Holmes , Interim Executive Chairman of HIVE, commented:

"Over the past year, HIVE has undergone significant changes which have improved transparency and accountability from strategic partners which will allow us to better manage our business. We weathered a challenging period for cryptocurrency and blockchain companies as the value of Bitcoin and Ethereum (ETH) underwent tremendous erosion of value causing a massive fall in the cost of computing equipment. However, we opportunistically added Bitcoin capacity at attractive financial terms."

BIG Blockchain Intelligence Group Inc. (CSE:BIGG) has signed a 1 year contract with a U.S. Federal Government agency for $389,000 CAD to deliver QLUE (Qualitative Law Enforcement Unified Edge) licenses. According to the press release, “QLUE incorporates advanced techniques and unique search algorithms to detect suspicious activity within cryptocurrency transactions …, enabling investigators to quickly and visually trace, track and monitor transactions in their fight against terrorist financing, human trafficking, drug trafficking, weapons trafficking, child pornography, corruption, bribery, money laundering, and other cybercrimes”.

Sam Mowers, Investorideas

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