#CryptoCorner: US Treasury to Investigate Libra (NASDAQ: $FB),  Grayscale Continues (OTC: $GBTC) #DropGold Campaign to Encourage Crypto Investment, Cryptanite (CSE: $NITE.C) Name  Change

Point Roberts, WA, Delta BC, October 23, 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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Stocks discussed: (NasdaqGS:FB) (OTC:GBTC) (CSE:NITE)

The U.S. Department of Treasury will investigate Libra, the planned cryptocurrency project from Facebook (NasdaqGS:FB). The decision by the Treasury was prompted by a letter from Emanuel Cleaver, II, congressman for Missouri’s fifth district, who requested that regulators examine Libra and Calibra for “possible systemic risk”. In a responding letter received by Congressman Cleaver yesterday, the Treasury said:

“It is unclear whether U.S. and foreign regulators will have the ability to monitor the Libra market and require corrective action, if necessary. This concern must be addressed if the Libra is to launch.”

Congressman Cleaver said:

“With the vast influence and reach of a company such as Facebook, it is absolutely critical that any effort to launch a cryptocurrency be met with the most stringent of examinations to ensure such an endeavor does not pose a systemic risk to the global economy. I appreciate Facebook’s willingness to work with federal regulators as the company seeks to launch Libra, which has the potential to update—or upend—our financial system. As Facebook works down this regulatory road, it is imperative that we affirm that terror financing and money laundering is not advanced through Libra, and, according to FSOC, significant concerns remain.”

Meanwhile, Facebook’s CEO Mark Zuckerberg is in Congress today for a hearing with the House Financial Services Committee mostly focussed on Libra.

Digital currency asset manager Grayscale Investments has unveiled a new wave of advertising for its #DropGold campaign. The campaign encourages investors to allocate their investments to digital assets, and more specifically to the company’s flagship Grayscale Bitcoin Trust (OTC:GBTC). Michael Sonnenshein, Managing Director at Grayscale Investments, commented:

“We are delighted to continue driving the #DropGold narrative by introducing our second commercial, the next chapter in how we are helping to educate investors about the investment-case for Bitcoin and Bitcoin access products like GBTC. Gold had its place in history but we now live in a digital world. Embracing innovation is going to make a key difference when it comes to building resilient investment portfolios.”

Cryptanite Blockchain Technologies Corp. (CSE:NITE) has announced that it will change its name to "Intellabridge Technology Corporation”, and will begin trading on the Canadian Securities Exchange under the new name and the new stock symbol "INTL" beginning October 24, 2019. According to the press release, the new name “is designed to reflect a strategic move towards machine learning and artificial intelligence technologies as part of its core technology”.

Sam Mowers, Investorideas

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