Blockchain | - Part 2

`Bitcoin Jesus’ Having a Hard Time Winning Over True Believers

LAGOS (Capital Markets in Africa)- Roger Ver, the virtual currency advocate often referred to as Bitcoin Jesus, is finding it tough to win converts to the supposed second coming of the the world’s biggest cryptocurrency. The offshoot of the digital coin, known as Bitcoin Cash, is barely being used in commerce, according to blockchain analytics firm Chainalysis. A review of payments received by the world’s 17 largest crypto merchant processing services, such as BitPay, Coinify…

BMO, Ontario Teachers’ Test Canadian Debt Issuance on Blockchain

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bank of Montreal and Ontario Teachers’ Pension Plan tested a Canadian-dollar debt deal over blockchain, a further step in determining the viability of the new technology in fixed-income markets. Bank of Montreal sold C$250 million ($190 million) of one-year floating rate deposit notes to the Ontario pension fund and used blockchain technology to mirror the transaction, the Toronto-based lender said Wednesday in a statement. The bank’s BMO Capital Markets unit built…

Crypto’s Millennial Mining Tycoon Is Said to Plan $3 Billion IPO

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LAGOS (Capital Markets in Africa) – Bitmain Technologies Ltd., the world’s biggest producer of cryptocurrency mining chips, is planning a Hong Kong initial public offering that could raise as much as $3 billion, people with knowledge of the matter said. The Beijing-based company, whose 32-year-old co-founder Jihan Wu is one of the most powerful players in crypto, plans to file a listing application with the Hong Kong stock exchange as early as September, according to the people….

Bitcoin Dips Below $6,000 as Almost Every Cryptocurrency Drops

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LAGOS (Capital Markets in Africa) – Bitcoin touched below $6,000 and dozens of smaller digital tokens retreated as this month’s sell-off in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887, the lowest level since June, before paring some of the drop, according to Bloomberg composite pricing. Ether sank as much as 13 percent, while all but one of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over…

Regulation of the Initial Coin Offerings: Sitting in the Waiting Room

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LAGOS (Capital Markets in Africa) – Although the debate about whether or not to regulate initial coin offerings (ICOs) is in full swing, many key regulators are hot on its heels, and even if we are in the first paragraph, ‘in summary’, they are going to be regulated. The challenge, of course, will be to regulate appropriately without stifling growth and innovation. The volatility of certain tokens (also traditionally referred to as cryptocurrencies or coins)…

Bitcoin Whale’s Bad Trade Leaves Counterparties Holding the Bag

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LAGOS (Capital Markets in Africa) – A massive wrong-way bet on Bitcoin left an unidentified futures trader unable to cover losses, burning counterparties and threatening to dent confidence in one of the world’s largest cryptocurrency venues. The long position in Bitcoin futures listed on OKEx, a Hong Kong-based exchange, had a notional value of about $416 million, according to an OKEx statement on Friday and data compiled by Bloomberg. OKEx moved to liquidate the position on Tuesday, but…

Want to Know Where Blockchain and Bitcoin Are Headed?

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LAGOS (Capital Markets in Africa) – TheStreet’s Jordan French visits South Korea for Blockchain Week. What do the country’s unbridled markets and monopolistic corporate dynasties portend for the future of cryptocurrencies? Blockchain has become a global phenomenon and Asian businesses and investors are now in the thick of it. Investors in South Korea were among those that were captivated by cryptocurrency craze and that country’s increased regulations haven’t stopped its citizens from participating. South Korea…

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