FATF released latest standards combating money laundering and terrorism, and it includes “travel rule" requiring exchanges to collect and transfer customer information during transactions. FATF says virtual asset providers required to obtain, hold and transmit both originator and beneficiary information, so exchanges have to gather and transfer originator name, originator account number (VA wallet address), originator’s location information, beneficiary name and beneficiary account number.
Celsius lending startup, unsure over the status of its native token, took precautionary measures, suspending the asset’s distribution in the U.S. The firm, which sold CEL tokens for $50 million in an ICO in March 2018, sent an email to its American users explaining that interest payments in the token had been paused with immediate effect, saying the move had been prompted following instruction “from legal counsel.”
Electric Coin Company, the firm behind Zcash, intends to build a new scalable blockchain. Chief engineer at ECC Nathan Wilcox said the firm should “make Zcash usable by 10 billion people by 2050” if it can, stating that ECC is considering implementing sharding into the network in the near future.
France, which holds the G7 presidency, will create a group taskforce on stablecoin projects, announced by France’s central bank governor Francois Villeroy de Galhau. The taskforce will reportedly be headed by European Central Bank board member Benoit Coeure, and is a response to Facebook’s planned cryptocurrency project, Libra.
Galaxy Digital to offer cryptocurrency options contracts amid demand from institutional investors and cryptocurrency companies like mining firms, lenders, and other projects, including those sitting on treasuries, that want to hedge the inherent volatility risk of cryptocurrencies.
Financial Intelligence Unit of the Financial Services Commission of South Korea said crypto exchanges should comply with FATF's cryptocurrency supervision guidelines, or they will be forced to cancel their business licenses. The guidelines are expected to take effect in the second half of next year.
TRON Foundation and New York-based fintech firm Carbon announced launch of first FDIC-insured fiat-backed stablecoin on TRON's blockchain, TRXD. The collaboration between the two parties aims at providing user-friendly payment solutions and in-DApp purchases.
Jun 25-26 - Bitcoin 2019 (Andrew Poelstra, Anthony Pompliano, Jihan Wu, Tuur Demeester)
Jun 28 - CME Bitcoin Futures Jun 2019 contract (BTCM19) last trade date; settlement July 1
July 4-5 - Asia Blockchain Summit Taipei (Arthur Hayes, He Yi, Charlie Lee, Nouriel Roubini, Samson Mow, Vincent Zhou)
July 16 - U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing on Facebook's Libra
Jul 26 - CME Bitcoin Futures Jul 2019 contract (BTCN19) last trade date; settlement July 29
Aug 6 - Litecoin Block Reward Halving (Coin reward decreases from 25 to 12.5 coins)
Aug 14 - SEC decision on Bitwise ETF
Aug 20 - Blockchain Summit Singapore 2019 (forthcoming)
Aug 30 - CME Bitcoin Futures Aug 2019 contract (BTCQ19) last trade date; settlement Sept 3
0/ We’re excited to release a preview of one of our Institutional reports publicly. You can read the @UniswapExchange portion of our Uniswap/Kyber Network report here: (short thread attached)
1/ Analyzing both in tandem was necessary because of their symbiotic relationship. After @KyberNetwork added Uniswap as one of its liquidity reserves in February, trades sourced through Kyber made up 34% of Uniswap’s total trade volume from February through May.
2/ Uniswap and Kyber have both experienced significant growth in 2019. Uniswap had ~30,500 ETH locked up in liquidity at the end of May, up from ~3,200 at the end of January. Kyber’s monthly trading volume was up to ~32M in May, with Feb-May volume equal to its 2018 total.
3/ Uniswap’s constant product market maker model allows individuals to trade through a liquidity pool rather than an order book. While small trades aren’t costly, slippage can become significant as the trade size increases relative to the liquidity pool.
4/ Uniswap liquidity providers collect a small fee from trades, that accrues over time. Since inception in November to May, the DAI/ETH pool has accrued over 11% in fees (~20% annualized). This rate has been increasing over time with over 5% earned in the past 8 weeks.
5/ As a liquidity provider, you underperform a pure hold strategy when prices deviate from their starting point. We analyze various scenarios to establish when it make sense to provide liquidity, depending on $ETH price expectations and other variables, in this report.
Four or less traders hold almost 70% of all btc short futures positions. (COT Data)
Not only are they accumulating shorts but reducing long exposure as well. This is positioning for a price drop.
What the crypto market needs are some players like Jim Chanos or Muddy Waters to exposure the frauds. Right now are hardly any fraud detectors other than a few anon tweeters. Taking down Bitfinex with several exchanges would be a huge profitable play if it could be done.
Stats for bitcoin CME weekly gaps greater than 3% during 2019. There has been a gap greater than 3% on 40% of the weekends; bullish gaps mostly. The Sunday open stop-run has resulted in an average move on the open of 2.4%.
Alex Krüger Retweeted Jacob Pickle
Stop-run = immediate continuation (on the Sunday open) in the direction of the gap, as poorly positioned CME traders close positions on the open.
Alex Krüger added,
Jacob Pickle @JPicL
Stop-run as in pullback?
Gap & ensuing stop-run, illustrated. This represents normal market mechanics.
Extremely high bitcoin Bitmex funding rate coming up in 2 minutes, 0.2965%. This happened about 10% of the time in 2017, never in 2018. It is equivalent to 325% per annum (ex-compounding). Speaks of how bullish traders are at the moment.
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