Chicago Mercantile Exchange Group Inc (CME) left a cryptic note atop its more detailed explanation of how bitcoin futures would be rolled out. Red emblazoned, it stated: “Effective Q4 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin futures.” Q4, the last three months of the year, is upon us, and it turns out the key phrase in that highlighted sentence might be “pending all relevant regulatory review periods.”
After concluding a successful token pre-sale round, FinTech company The NAGA Group is launching their main token sale, which begins today on December 1, 2017.
Since the first of ICO in 2013 by J.R Willett, it has quickly captured the vast majority of investors, influencers, and cryptocurrency enthusiasts. Initial Coin offerings have become the funding base for many startups with aims at becoming a blockchain based company.
PayPal tried and failed in its stated mission to create a “new world currency,” but Bitcoin is stepping up and fulfilling PayPal’s original vision.
In a small corner in the neighborhood of Manhattan in New York, Melt Bakery a ‘hole in the wall’ that sells ice cream sandwiches, accepts Bitcoin as a payment option. A few swipes of a mobile app are all that it takes to complete your transaction, but remember that if you want to use Bitcoin at Melt, you might have to pay extra for the privilege.
Kim Dong-yeon, South Korea’s deputy prime minister and the minister of strategy and finance, revealed earlier this week that the government is investigating various methods to better regulate the local Bitcoin market and tax Bitcoin users accordingly.
Fintech happens to be one of my favorite industries because there are few others that work so consistently towards progress. The notion of money has changed so drastically over millennia and arguably even more so during the last few decades alone. There are countless influential names that are working daily to redefine how we think about finance, and I was recently lucky enough to sit down with one of them. Jim Preissler, CEO of Trade.io, discussed with me the idea of blockchain and Wall Street’s growing involvement in it.
Once upon a time, China was the leader in bitcoin mining, accounting for an estimated 71% of the bitcoin mining market. But that bubble burst in September 2017 when the Chinese Central Bank completely banned all ICOs. In spite of the ban, Bitcoin has managed to flourish, increasing by over 144% since the ban. Still, China isn’t worried. According to the PBOC, Bitcoin is dying.
Initial coin offerings have become one of the most popular and easy ways to raise money online through cryptocurrencies. But ICOs have also become a popular way for fraudsters to scam people as the SEC recently showed by filing suit against the ICO by PlexCorps.
A week ago, I found someone online spouting that Satoshi encouraged side-chains and lightning network. Anyone who has been around the Bitcoin community for the last several years knows very well, that both the Lightning Network and Pegged Side-chains are relatively newer concepts within the Bitcoin paradigm.