BlockFi Introduces Institutional Services for Digital Assets

BlockFi, a nonbank lender of crypto assets, has announced that it’s opening a new platform for institutional investors.  BlockFi Institutional Services is set “to give market-makers, funds, exchanges, and family offices access to enterprise-grade financing solutions for digital assets,” according to the company. Digital Assets Services for Institutional Investors The drive to serve cryptocurrency investors with institutional options was inspired by BlockFi’s own growth. “We have been active in the market for over a year,” BlockFi founder and CEO Zac Prince told Bitcoin Magazine. “As the team and business grew,…

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Qtum’s First-Ever Hard Fork Qtum 2.0 Is Now Active

Qtum has gone though its first-ever hard fork today, unlocking major significant network improvements. Major Proof-of-Stake (PoS) blockchain Qtum has gone through its first-ever hard fork today, updating the network to Qtum 2.0. Major network upgrade Qtum blockchain has had its first hard fork as scheduled, Qtum Official tweeted on Oct. 17. The hard fork happened at block 466,000, upgrading the Qtum network to unlock a number of significant features such as smart contract and block spacing improvements, as previously announced by the firm. According to Qtum blockchain explorer Qtum…

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Bloomberg Editor: BTC ‘Is for Making Transactions The Man is Against’

Joe Weisenthal, editor of news for Bloomberg Digital, said that blockchains are essentially inefficient and that “Bitcoin is for making transactions The Man is against.” Joe Weisenthal, the executive editor of news for Bloomberg Digital, said that blockchains are essentially inefficient and that “Bitcoin is for making transactions The Man is against.” The Man The comments come from Bloomberg’s Markets newsletter, which Weisenthal reproduced in a tweet on Oct. 17. He elaborated that transactions would not be possible without individuals willing to pay fiat money for Bitcoin (BTC), with blockchains…

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What Does Skepticism for Libra Say About Bitcoin?

The potential loss of Libra could be Bitcoin’s gain as the Facebook-led crypto project faces increasing regulatory challenges. Facebook’s dream of being a cryptocurrency giant is seemingly becoming more distant by the day, as increasing regulatory uncertainty continues to jeopardize the company’s Libra project. While Libra has been surrounded by anything but good news even before its launch, crypto watchers should ask themselves, Does Bitcoin need Libra to thrive at all? A crypto world without Libra — is that a good thing or not? What would a no-Libra crypto world…

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French Finance Minister Warns He ‘Cannot Countenance’ Facebook’s Libra

A Financial Times opinion piece continues Bruno Le Maire’s harsh criticism of Facebook’s unlaunched digital currency, Libra. France’s economy and finance minister has repeated his criticism of Facebook’s digital currency Libra, saying he cannot allow its existence. Le Maire: France has “clear position” on Libra In an opinion piece for the Financial Times on Oct. 17, Bruno Le Maire claimed Libra would take power over currency away from national governments. His comments echo similar reservations from Germany’s finance minister, Olaf Scholz, earlier this month. Le Maire wrote: “I cannot countenance one…

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Cartoon: Retail Blues

Despite the promises that bitcoin will be used for everyday purchases, many businesses that were initially bullish have stopped accepting cryptocurrencies (e.g., Expedia). Instead, many think they can turn to “blockchain” to improve their own business systems (e.g., reducing credit card fees and managing loyalty programs). Further Reading: Op Ed: Is the Age of Bitcoin-Powered Discounts Finally Upon Us? The post Cartoon: Retail Blues appeared first on Bitcoin Magazine.

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How to Manage — and Understand — Risk Tolerance in Crypto Investing

Do you understand your tolerance for risk? Being armed with this knowledge is essential — especially if you’re interested in crypto. “Risk tolerance” is a buzzword that’s commonly bandied around in the investment world — and with very good reason. Although the phrase “no pain, no gain” has some truth — and there will always be some risk associated with making investments — we all have different thresholds of pain to consider. While some will suffer sleepless nights after the value of their portfolio slides by 1%, others can happily…

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The 18 Millionth Bitcoin To Be Mined this Friday, Only 3 Million Left

American investor and co-founder of investment firm Morgan Creek Digital Assets Anthony Pompliano pointed out that only about three million BTC more will ever be mined. The 18 millionth Bitcoin (BTC) is expected to be mined this Friday, American investor and co-founder of investment firm Morgan Creek Digital Assets Anthony Pompliano tweeted on Oct. 15. Only three million BTC left Pompliano also noted that, at this point, there are only three million BTC left to be mined. The tweet asked to raise awareness about the world’s most well-known cryptocurrency: “This…

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Major Singapore Bank Completes First DLT Trade Financing Transaction

CIMB Singapore, a part of one of the fifth largest ASEAN bank CIMB Group, completed its first blockchain-based trade financing transaction. A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction. The transaction was processed using blockchain and Internet of Things (IoT) platform developed by local trade financing firm iTrust Trading, Yahoo Singapore reports Oct. 17. By applying iTrust’s blockchain-based IoT, CIMB intends to minimize the risks associated with commodity trade financing and facilitate credit extension for its…

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Binance CEO Confused by BNB Price Decline Despite ‘Very Productive’ Q3

After the latest Binance Coin quarterly burn and record profits, Binance CEO says that the possible reasons for BNB price decline do not make much sense. Changpeng Zhao, CEO and founder of major cryptocurrency exchange Binance, said that the reasons why Binance Coin (BNB) dropped over 50% from its all-time high in June do not make much sense.  “Markets often confuse people” Zhao explained that new services such as margin trading, an increased number of fiat onramps, peer-to-peer (P2P) trading, and futures trading have made the last quarter “very productive”…

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