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THE BIGGEST WAVES HITTING THE CRYPTO SHORE

MAY 2020

 

HIGHLIGHTS
  • A leading U.S. bank just took on their first crypto client. Actually, it's plural. A leading U.S. bank just took on their first crypto clients! 
  • 33% of Bitcoin mined in the last 3 months is now under the management of a single fund 😮
  • 75 million devices just got a whole lot closer to digital assets... whether the owner wants it or not 🤷‍♀️  

SOME ALGOZ UPDATES

 
 
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1-114May results for our Long Short Alpha Links trading strategy is up on the resources tab on our website now. Check them out and our year-to-date results! 
 
 
 
 
 
 
 
 

30 DAYS IN 1

BIGGEST TRADING NEWS & MORE

 

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Majority Stake. Grayscale’s Bitcoin Trust Fund recently went on a Bitcoin & Ethereum ‘Shopping Spree’! 33% of Bitcoin mined in the last 3 months is now under the management of the Fund, of which, 34% were bought in 17 days. In the midst of the Bitcoin Halving and the market indicating that BTC would hit $10,000, the fund gained significant traction from investors wanting exposure to the de facto standard digital currency.

 

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Tug of War. Once upon a time, a JPMorgan employee could have risked getting fired for merely suggesting the notion of getting involved in the crypto space, but today, the banking giant’s portfolio of clients includes crypto exchanges, Coinbase & Gemini! This is a massive move on the bank’s part considering the regulatory status of cryptocurrency trading in the US, and can go far in removing some stigma associated with digital assets, “the largest bank offering crypto exchange services means a lot of credibility for the space."

 

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75 Million Devices. Samsung’s recent partnerships are going to bring digital assets to its users’ fingertips. And that is a lot of fingers! Despite being a niche streaming service, all new Galaxy S20s and previous models (through software updates) will come pre-installed with the e-sports & gaming platform, Theta.tv, allowing users to earn its token for watching and sharing, as well as for trading on crypto exchanges. The Galaxy line also comes with the Samsung Blockchain Wallet, which will now be powered by Gemini exchange. This feature will be very handy for Samsung users who enjoy shopping online and will be easily able to make their purchases with cryptocurrencies. Shopify sellers will now be able to accept 1,800 cryptocurrencies as payment as the e-commerce giant has partnered up with payment processor, CoinPayments. This payment method will be available to all those who hold any of the accepted currencies.

 

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SEC Strikes Again. BitClave was caught selling unregistered securities in its 2017 ICO. The crypto firm had raised its hard cap of $25.5 million within 32 seconds, and now is being ordered by the SEC to fully reimburse its ICO investors (we assume the refund will take a little longer…)!

 

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Hester Peirce Strikes at SEC AGAIN. Following her first dissent against the ‘biased treatment towards Bitcoin-related products’ by the SEC in March, Commissioner Hester Peirce has issued a second dissent. In a recent interview with Bloomberg, Peirce showed her favor for a Bitcoin ETF and even pulled in a joke about a Toilet Paper ETF 😂.

 

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Rest in Peace. Telegram’s TON project and GRAM token have officially been buried. The case between the SEC and Telegram has been settled and you can guess who won… At the end of April, Telegram had a compelling offer for investors to be reimbursed 72% of their investment, effective immediately, or, “loan the funds to Telegram for a year and get back 110% in April 2021.” Considering these options no longer stand valid, there are speculations of an impending class action lawsuit against the ambitious project.

 

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Filthy Rich. Crypto derivatives exchange, BitMEX, is under an inferno. Another lawsuit has been filed against the exchange in a severe case of money laundering. BMA LLC., formerly known as ‘Bitcoin Manipulation Abatement’, claims that the exchange processes, approximately, $3 billion worth of illegal and unlicensed money transfers each day, earning the likes of Hayes, “billions of dollars in illicit profits.”

 

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Walking Dead. Bitcoin was birthed in the year of 2009. In the rarest of occasions, a wallet which has been inactive since the birth year just moved 50 Bitcoins to two addresses! These Bitcoin’s were mined a month into the existence of the currency.

 

 

 

THE ALGOZ-CAL

UPCOMING BLOCKCHAIN & CRYPTO EVENTS

 

BLOCKDOWN | VIRTUAL | JUN 18 - 19, 2020

ASIA BLOCKCHAIN SUMMIT | VIRTUAL | JUL 15, 2020

ELEV8 | NEW YORK | JUL 20 - 21, 2020

HONG KONG BLOCKCHAIN WEEK | Hong Kong | SEPT 28 - 30, 2020

TOKEN2049 | Hong Kong | OCT 7 - 8, 2020

 

 

The Last Drop

 

BITCOIN HALVING BE LIKE...

 

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