Giving support

Your daily newsletter for October 8, 2018
Support
“Strong people don't put others down. They lift them up.”
- Michael P. Watson
Welcome back from your weekend! I hope everyone is fully charged up to take on this week. Today is the 8th of October, which also happens to be Columbus Day (a national U.S. holiday to commemorate the landing of Christopher Columbus in the Americas way back in 1492)! For all our American friends, today is a federal holiday! Lucky you! 💚
 
In today's newsletter, we will be covering Yale University's investments in 2 big crpyto funds, the SEC seeking general public comment on the BTC ETF rule change proposals, and crypto exchange Bitfinex's new banking partnership.

Hope you enjoy today's newsletter, and don't forget to answer the polls down below too (it's about the recent UFC 229 event between Conor Mcgregor and Khabib Nurmagomedov)! Happy reading! 📚
Please hold...support lines
Talk about an uneventful weekend. BTC has been in a tight consolidation phase for the last 2 weeks, and it carried over during the weekend. BTC and total market capitalization barely budged over the last 2 days, with BTC hovering within a $40 range between ~$6,560 and ~$6,600 and total market capitalization hovering between ~$217 billion and ~$218 billion. RSI levels on the daily chart has also been very neutral, remaining in the 50-51 range over the last 4 days, indicative of very minimal momentum in either direction. 😴

BTC remains trading between the 21-day and 50-day EMA lines from Friday, but seems to be currently testing the 21-day EMA support line (~$6,590). In the next day or two, we will likely see BTC challenge the rising support line (~$6,560) that developed from BTC's formation of higher lows since 17 Sept this year. 

Notable movers for the day are TRX and ZRX, currently up ~14.18% and ~15.89% respectively. 🚀
Big boy endorsement
According to a Bloomberg report, Yale University has invested in and also helped a digital assets focused fund, Paradigm, raise $400 million. It's investment size is currently undisclosed. 💰

Paradigm was started by Coinbase co-founder Fred Ehrsam, a former Sequoia Capital partner Matt Huang, an an ex-employee of Pantera Captial, Charles Noyes. It aims to invest in early-stage cryptocurrencies, blockchain and exchange projects. 🤑

Yale University's endowment fund, managed by renowned investor David Swenson, is currently at about $30 billion making it the second largest endowment in higher education (second to Harvard University). 🤩

Additionally, CNBC has recently reported that Swenson has invested, on behalf of the university, in the $300 million crypto fund, Andreesen Horowitz. 👍
Building bridges
Cryptocurrency exchange Bitfinex has a new banking partner in the London-based HSBC bank. Bitfinex will now be banking with HSBC through a private account of Global Trading Solutions, and will likely be resuming EUR, JPY and GBP deposits within the week, which were initially paused due to the its previous banking partner in Noble Bank being on the brink of bankruptcy. 🤝

Although the full nature of the business relationship between Bitfinex and HSBC not publicly disclosed, this partnership represents Bitfinex's first proper banking partnership since the Wells Fargo one back in 2017, which ended when Bitfinex initiated a lawsuit against Wells Fargo in April 2017 for blocking deposits and disrupting business operations. If this relationship between Bitfinex and HSBC is sustained, it will grant Bitfinex with some much needed operational stability. 💲

Seeking gen pop support
The SEC has recently published new filings asking for the public's comment on the 9 different BTC ETF rule change proposals of ProShares, GraniteShares and Direxion, all of which are currently under review after initially being rejected. 🎤

The SEC has designated until 26 Oct for the general public to make any further comment on the matter, and mentioned that for now the order " disapproving [the proposed rule changes] shall remain in effect pending the Commission's review." 
Other news
  • A senior executive of Coinbase, Adam White, is leaving the company after serving the company for 5 years. White joined Coinbase in 2013 as the vice president and was the company's 5th employee. 👋
  • Circle Internet Financial Ltd. is about to acquire a crowdfunding platform for startups, SeedInvest. Its acquisition is currently pending regulators' approval and if permitted, will thus allow startups to raise funds by selling digital tokens through the Circle platform. 💸
  • The mayor of South Korea's Seoul, Park Won-soon, has revealed a five-year "Blockchain Urban Plan (2018-2022)" that will invest $108 million across 14 various public services to make the South Korean capital a smart city powered by blockchain. The major public areas include labor welfare, vehicle history management, certification issuance, donation management, and elections voting. 🤖
Poll of the Day
On a scale of 1-10 (10 being most shocked), how shocked were you at what happened right after the Khabib vs Mcgregor fight at UFC 229? 😲
1
2
3
4
5
6
7
8
9
10
And...was Khabib in the wrong for attacking Conor's teammates after the fight? Also, who is your favorite UFC fighter of all time? Share with me! 😆
What you said
How much do you agree: "I am good at looking at the bigger picture"

The average vote was 7.6. Seems like we have many visionaries among us! Great! 🦅
"Are you more of a short term planner, or long term planner?"

80% voted for "Long Term Planner."
20% voted for "Short Term Planner."

In my opinion, planning for the long haul allows you to better anticipate the obstacles along the way, as it allows you to be less 'reactive'. 💪
"How can one can improve in looking at things from a broader perspective?"

You guys said: 
Keep a list of your long-term personal and professional goals and check it regularly! - Good idea. Life is a sum of your choices. By doing it this way, you can always check in to see if you are taking the necessary steps to achieve your long term goals! 🤓
Criticize yourself more often. - Being honest with oneself is never easy, but it is definitely essential to learn and to grow. 👍
"What are your plans for the weekend?"

You guys said: 

Attend pending work. - Unfortunate, but one's gotta do what one has got to do! 💪
Go for a long jog in the countryside. - Wow, jealous much. That sounds so relaxing. Wished I lived near the countryside. 😄
To make short term plans all weekend long. I spend much time planning to make short term plans for the long haul. - This is what I do too! I believe in the 5 "P's" - Proper Planning Prevents Poor Performance. 🤓
Everyday's a weekend. - Hell yasss it is! Live life to the fullest. 🤙
Thank you all for reading! See you back here again tomorrow!💙💙💙
See you tomorrow!
😍 our newsletter? Share with a friend!
😡 our newsletter? Spam your enemy!

Be supportive of someone today! 😄
Be friends with CoinMarketCap!
LikeTwitterForward
[[internal_footer]]