WINKLEVOSS PREDICTION: BITCOIN BETTER THAN GOLD: “Bitcoin is better at being gold than gold…”

The Winklevoss twins are currently running an aggressive campaign to build awareness among the masses with respect to crypto and Bitcoin. Whether it is a billboard, NYC streetside signage, or a ‘crypto bus’ pacing the streets of Manhattan – they are determined to spread their message.

A message that has served to annoy some in the crypto community. The Winklevoss twins assertion that crypto desperately needs regulation to matter seems to be the anti-thesis of the foundation of Bitcoin itself. Still, they continue undeterred and focused on bringing their message to a larger and larger audience.

Since launching their regulated US cryptocurrency exchange and trading platform Gemini, the Winklevoss twins have staked huge amounts on Bitcoin’s success, despite opening up trading of larger market cap altcoins. This puts their campaign under a microscope and into some perspective.

Their thesis, in an interview earlier this week, is that Bitcoin most closely resembles gold. Going so far as to say that “bitcoin is better at being gold than gold. Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”

Whatever your reaction happens to be to their ‘crypto is better when it is regulated’ campaign – the Winklevoss twins hold enormous influence within the crypto space. Their Gemini exchange is a leader in OTC volume and people listen when they speak. Thousands attended their Reddit AMA and headlines were made.

Very few in the crypto ecosystem carry that kind of influence. The question one might ask, though, is this – does their influence push Bitcoin and crypto in the right or wrong direction? Is regulation really the answer?

Whether they are right or wrong could either position them to gobble up market share or leave them chasing for what may remain. Interesting nonetheless.

The post WINKLEVOSS PREDICTION: BITCOIN BETTER THAN GOLD: “Bitcoin is better at being gold than gold…” appeared first on Abacus Journal – Cryptocurrency News.

WINKLEVOSS PREDICTION: BITCOIN BETTER THAN GOLD: “Bitcoin is better at being gold than gold…”

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A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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CRYPTO ETF CHATTER: FIDELITY, GOLDMAN SACHS, BLACKROCK: 2019 Is The ‘Genesis’ Of The Crypto Structured Product

At some point, a Bitcoin ETF application is sure to be approved. But that isn’t the talk around water coolers (or via text and social media DM’s) at places like the CBOE, CME, NYSE, and global financial institutions. Each of those organizations is sure that an approval is coming and are preparing the infrastructure for the onboarding of any and all new crypto money.

The talk has quickly turned to the next set of crypto ‘structured products’ that could flood the market in 2019. All manner of ETF’s connected to other cryptocurrencies and ‘baskets’ of alt-coins are coming. And it won’t stop with just ETF’s.

One conversation was illuminating with a source from Gemini: “We’ve got months worth of backlog that is waiting for the first approval. Some of the biggest institutions in the world have crypto products prepped and ready to hit the markets. We expect 2019 to be a year of accelerated adoption.”

A former CME executive echoed those sentiments: “Some of our clients are not only locked and loaded with ETF products, but there are a second set of firms that are set to service and market those products that will indirectly benefit from a succession of crypto-based approvals. This really is the push that seems to be moving the markets as it is on the tip of everybody’s tongues at the moment. That first approval will open the floodgates. In six months the first ‘Bitcoin ETF’ will look like a dinosaur to crypto investors. And the regulation that will be attached to any structured products like this will gather massive amounts of institutional assets.”

A Goldman Sachs source confirmed the 2019 narrative: “2018 has been about building out the legal/regulatory and custody architecture that creates a level of comfort for clients. 2019 will address adoption and investment directly.”

Read the pages of this site or any crypto-based publication over the past month and you can see *clear-eyed* the pent-up demand from all sorts of well-known names, individuals, and institutions, for the right crypto product. Those massive amount of dollars are there for the taking.

First movers in the space will take advantage and reap huge benefits. Names like BlackRock, Fidelity, Goldman Sachs – all of them have current ‘working groups’ connected to digital assets. You can bet that each of them is ready to pounce when the regulatory framework finally takes shape.

Institutions are serious and poised to shovel client cash into cryptos, finally. The moves by Bakkt, Fidelity, ErisX (and by extension DRW), TD Ameritrade, Yale and Harvard endowments over the past 45 days prove that the architecture is nearly finished and lift off is imminent.

There is zero, ZERO chance the above organizations make the moves and spend the capital to build what they are building without a seriously good faith understanding of what regulators will and will not do. That isn’t how ‘high finance’ works.

Not only is a Bitcoin ETF coming, but a flood of crypto-based products will quickly follow.

The post CRYPTO ETF CHATTER: FIDELITY, GOLDMAN SACHS, BLACKROCK: 2019 Is The ‘Genesis’ Of The Crypto Structured Product appeared first on Abacus Journal – Cryptocurrency News.

CRYPTO ETF CHATTER: FIDELITY, GOLDMAN SACHS, BLACKROCK:  2019 Is The ‘Genesis’ Of The Crypto Structured Product

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A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
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Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
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NASDAQ AGAIN: SOURCE: “These are the coins that will get listed in 2019…”

We’ve been chasing an oft-asked question ever since we posted the Nasdaq article last regarding the exchanges intention of creating a yet-to-be-known architecture to list large market cap tokens. And it looks like we’ve been able to come up with some answers.

One source at the Nasdaq, on the condition of anonymity, was able to point us in a direction that made it clear what the exchanges intentions were and the comfort level being created around this listing project. Specifically, the exchanges work with Gemini (of Winklevoss fame) and the market data that has been collected over the past six months of monitoring and research that the Nasdaq has done on that exchange has created a comfort level that has pushed this narrative forward.

**A word of context before we get to the coins that are set to be listed within the Nasdaq framework that it creates – and it will crystallize when you read it. Based on conversations with other sources in and around this story, it is clear that the Nasdaq and other entities are rushing to play catch up with Bakkt. Bakkt has cracked the code and is currently the tail wagging the dog across the intersection of traditional finance and crypto. In other words, the Nasdaq is doing a version of ‘exchange fomo’ in the hopes that they can take crypto a step further than unlocking Bitcoin to the huddled institutions salivating at outsized profits. FYI – did you see that Binance nearly out-earned the Nasdaq in Q1 of 2018? There is your context.**

Our source had this to say about what is to come in terms of coin listings on the Nasdaq: “You can expect the initial listings to mirror what Gemini has on its exchange. They are comfortable with that footprint and can almost mirror that way that Gemini handles order flow and executions, albeit on a larger scale. Most of the public won’t see it, and it may not even be announced, but Nasdaq may even borrow the back end tech that Gemini uses in a lot of ways. Which is mind-blowing, but probably critical to keep up (sic, with Bakkt).”

“And the next to get listed, or to join Bitcoin, Ethereum, and Zcash at launch would be Litecoin. That is the talk that I have heard and would be the bet that I would make if you forced me too. I’ve heard it mentioned several times and the market cap coupled with the visibility of Charlie (Lee) makes it an easy choice. The chances that it launches along the side the other three in 2019 is probably better than 75%.”

And more from the same source:

“Yes, the Bakkt stuff is real and there is scrambling happening across the competitive landscape. Remarkable that they kept it under wraps the way that they did. But you can bet that the scrambling isn’t just connected to Bakkt beating everyone to market – it is probably more closely correlated to the profits being generated at Binance, BitMex, Coinbase, etc. That is as big a motivator as you are ever going to find in capital markets. That kind of revenue and the growth/speed of it cannot and will not be ignored.”

So now you have some answers to the ‘who’ and the ‘what’ associated with the Nasdaq activity. And even some background as to the ‘why’. Bakkt and profits.

And the Nasdaq is set to go beyond just the listing of Bitcoin (part of their strategy to blunt the head start that Bakkt has) and add other large market cap coins. That should ensure, at a minimum, some headlines that rev the engines at launch.

The real question…when $XRP?

The post NASDAQ AGAIN: SOURCE: “These are the coins that will get listed in 2019…” appeared first on Abacus Journal – Cryptocurrency News.

NASDAQ AGAIN: SOURCE: “These are the coins that will get listed in 2019…”

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A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
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SOURCES: NASDAQ CRYPTO AMBITIONS: “The listing of several coins will happen in 2019…”

The NASDAQ is attempting to be the first mover in crypto exchange governance, order execution, and at the forefront of institutional movement into the crypto ecosystem. While there have been other headlines connected to global exchanges dipping their toes into the crypto waters via partnerships and futures trading; the NASDAQ may just go all in.

**This particular article was sourced and penned by Abacus Journal staff nearly three months ago. In light of today’s developments that Nasdaq has not only partnered with MVIS and Van Eck, but also has immediate designs to list security tokens connected to current cryptocurrencies as well as the equities markets – our sources were proven correct.**

And what does ‘all in’ look like for the famously aggressive and tech-savvy NASDAQ? Creating a pathway for cryptos to be listed and traded on the exchange proper.

While the details remain a bit fuzzy a trusted NASDAQ source continues to feed us information on the timelines surrounding the likes of Bitcoin and Ethereum being listed and tradeable on the NASDAQ.

Our source just passed us this note: “The conversation around listing coins has centered on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3-6 months. Even with the longest of time frames assumed, some guidance will be provided and I expect we will act quickly. The framework (two different sets of the framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.”

Whoa.

But is it really that big of a surprise? The tea leaves have been pretty well read at this point. Take a look at our previous article connected to NASDAQ and Gemini (the institutional Winklevoss crypto exchange) and pick out where this is headed:

That has led to a deeper relationship between the two firms and increased confidence from Nasdaq that there is a pathway to list, at a minimum, Bitcoin, and Ethereum, as tradeable entities on a global scale. This initial foray into the crypto ecosystem would be measured, careful, and work closely with regulatory back channels.

Our first Gemini source said the following: “Tyler and Cameron have moved the ball down the field in a meaningful way. Nasdaq, and its leadership, already are predisposed to finding an architecture solution and being the first to list actual tokens. Not just ETF’s or futures or some ‘derivative’ of the crypto apparatus…but rather list actual coins. They are getting very comfortable with the structures they’ve seen from Gemini, and the other research they’ve done with exchanges of note. There is a timeline forming for this decision and it could be earlier than some might think.”

A second Gemini source was a little more specific with the timing of a Nasdaq move into crypto trading: “Nasdaq and Gemini have gotten very, very comfortable with each other. Did you guys catch the little note in one of the latest articles where it said that Gemini was essentially doubling their staff by the end of this year? There is a reason for that and it is their work with Nasdaq. If you made me take a bet on it, I’d put money on their being a joint venture of some sort that sees several tokens listed and available to the public to trade on the Nasdaq by Q2 of 2019. If the people involved in the planning are telling me the truth, that is the bet I’d make…and these aren’t just tea leaves pieced together here – I asked three and four times and kept hearing what I am telling you. Remember, there is serious competition between these global exchanges to get there with cryptos. Nasdaq wants to plant a flag in the ground no different than Intercontinental (ICE), CBOE, CME, all of them.”

We back channeled this through several third parties connected to the ‘secret meeting’ and we were surprised by what we DID NOT hear from each of those contacts. Nobody denied this possibility or the timing of it. Nobody.

A secret meeting. Continued meetings. Backchannels with regulators. Tea leaves everywhere. This intel feels like it may even be a little conservative if you were to ask us.

The NASDAQ has a knack for winning these types of battles and blazing a trail, specific to tech. What better way to move into the next financial frontier than to blaze this particular trail?

The post SOURCES: NASDAQ CRYPTO AMBITIONS: “The listing of several coins will happen in 2019…” appeared first on Abacus Journal – Cryptocurrency News.

SOURCES: NASDAQ CRYPTO AMBITIONS: “The listing of several coins will happen in 2019…”

Via: SOURCES: NASDAQ CRYPTO AMBITIONS: “The listing of several coins will happen in 2019…”

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

BITCOIN BOSS: NOVOGRATZ: Take A Look At The Crypto Investments Made By The ‘Buffet of Bitcoin’ Over The Last Year

Michael Novogratz is quickly becoming the ‘Oracle of Bitcoin’; to borrow a phrase from traditional finance and the worlds most successful investor, Warren Buffet. It seems that wherever and to whoever Novogratz floats his ‘pixie dust’ (aka crypto venture capital) the masses are sure to not only take notice but quickly deem the investment a crypto move of genius proportions.

But those masses aren’t wrong, and Michael Novogratz has found himself on the right side of the digital assets ledger time and time again. For reference, let’s take a look at the investment he’s made in just the past six months:

  1. The just-announced increased investment in his own firm Galaxy Digital.
  2. A partnership with his firm, Galaxy Digital, and Fidelity Digital Assets is announced.
  3. A strategic investment in Hut 8 Mining.
  4. A strategic investment in Bakkt.
  5. An investment in BlockFi, a lending facility for digital assets.
  6. An equity position in Caspian, a digital asset management solution.
  7. A strategic investment in Wax Express Trade, a digital gaming payment/trading system.
  8. An investment in High Fidelity, a VR blockchain project.
  9. A ‘lead investor’ equity stake in Alpha Point.
  10. Partnering with Bloomberg to create the Bloomberg Galaxy Crypto Index (BCGI).
  11. A co-investment with Goldman Sachs in custody service BitGo.

And we are almost certain there are more that haven’t been announced – and we probably even missed a couple. But the above list is remarkable and proves the ‘Buffet of Bitcoin’ moniker. When Michael Novogratz talks about crypto, digital assets, blockchain, use cases, or any other such crypto ecosystem buzz phrase you need to listen – and listen intently.

**Most of you reading this are acutely aware of Novogratz’s crypto prowess, but may not know his traditional finance history equally as well. So some crib notes regarding his work up to this point: Michael Novogratz is an ex-hedge fund manager, formerly of the investment firm Fortress Investment Group. Prior to joining Fortress, he was a partner at Goldman Sachs where he spent much time abroad including leadership roles in Asia and Latin America.**

Goldman, Fortress, and now quite possibly the most powerful financial firm in crypto, Galaxy Digital. That is a resume’ that commands respect, even with the circumstances that surrounded his exits from both Fortress and Goldman. Exits that were predicated on risk-taking that now serves Galaxy Digital perfectly.

This quote from the Bloomberg BitGo announcement yesterday adequately describes the direction and strategic thinking (common sense thinking) behind most of Galaxy Digital and Michael Novogratz’ investments:

“If you were investing in any other asset class, you’re probably not worried about the asset just disappearing — but this one, people still have that fear,” Mike Belshe, BitGo’s co-founder and chief executive officer, said in an interview. For cryptocurrencies to reach their full potential, “we’ve got to conquer that.”

Problem-solving, married to the concepts pressing digital assets forward are what make up Novogratz’ investment philosophy – at least that is what the above investment roster indicates. Custody, data, trading platforms, warehouse facilities, mining – these are all digital versions of another ‘Oracle’ (Warren Buffet) who’s made a few bucks over the years. Infrastructure and hard assets, so to speak.

In crypto, it is becoming increasingly clear that the concept of following the money will eventually pay off big. Galaxy Digital and Michael Novogratz are leaving breadcrumbs all over the digital assets trail, and you’d do well to chase them, picking up every crumb along the way.

The post BITCOIN BOSS: NOVOGRATZ: Take A Look At The Crypto Investments Made By The ‘Buffet of Bitcoin’ Over The Last Year appeared first on Abacus Journal – Cryptocurrency News.

BITCOIN BOSS: NOVOGRATZ: Take A Look At The Crypto Investments Made By The ‘Buffet of Bitcoin’ Over The Last Year

Via: BITCOIN BOSS: NOVOGRATZ: Take A Look At The Crypto Investments Made By The ‘Buffet of Bitcoin’ Over The Last Year

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange