Daily Email Archive

Sow seeds of change

Your daily newsletter for October 24, 2018
“Actions are the seed of fate deeds grow into destiny.”
- Harry S Truman
Happy Wednesday folks! It's midweek, so remember to keep your head up high and press on. Also today in history, specially on 1945, with the ratification of its charter by the first 29 nations the United Nations was officially formed. Happy birthday, UN! 👏

In today's newsletter, we will be covering the SBI Group developing a digital wallet for its cryptocurrency exchange, the new U.S. SEC commissioner meeting with representatives from Solid X, VanEck and the CBOE to discuss BTC ETF issues and Coinbase receiving its custodial firm approval from the NYDFS.

Hope you enjoy today's newsletter, and don't forget to answer the polls down below too! Happy reading! 📚
Little win
Small win today for the crypto space as we see total market capitalization increasing from ~$208 billion to ~$211 billion. BTC also recorded a small win and is up ~0.71% to ~$6,510. It is back trading between the 21 and 50-day EMA lines. The 21 day-EMA line seems to be providing some support and the 50-day EMA line providing some resistance. The low volatility seems to reflect an indecisiveness in the market, as well as cautiousness. RSI registering a 50 on the daily chart further reinforces this. 🤔

Securing your future
The large Japanese financial services provider, SBI Group, is partnering with a Denmark-based security startup called "Sepior" to develop a digital wallet for its recently launched cryptorrency exchange. 🤝

SBI Group licensed Sepior's proprietary "threshold signature" wallet technology to integrate with their VCTRADE exchange to secure "on-line contents and transactions." The proprietary technology uses signatures based on multiparty computation and "eliminates the need for any device or entity to possess the entire private key at any time." 🤯

Planting seeds
The newest commissioner of the U.S. SEC, Elad Roisman, recently met with representatives from Solid X, VanEck and the CBOE to discuss the rule change proposals Solid X and VanEck submitted as part of an effort to launch a BTC ETF. 😄

The discussion, as documented on the SEC website, saw Dan Gallancy and Dimitri Nemirovsky from SolidX and Adam Phillips from VanEck sharing a presentation similar to the one they had previously presented to to the SEC to Roisman. During which, they also addressed concerns raised by the SEC when it disapproved a BTC ETF back in March 2017, such as how there are now regulated derivatives markets for the space. 👍

Bearing fruit
Coinbase has received approval from the New York Department of Financial Services (NYDFS) to form a qualified custodial firm for cryptocurrencies called Coinbase Custody Trust Company LLC and to offer custodial services for BTC, BCH, ETH, ETC, LTC and XRP. 🎉

The COO of Coinbase, Asiff Hirji, noted that the NYDFS has been a good advocate for the "responsible growth of the cryptocurrency industry" and that it holds Coinbase "to the same exacting fiduciary standards and oversight of other, mature financial institutions operating in New York." 👍

In other Coinbase-related news, the exchange has added support for the Circle-issued stablecoin (USDC). USDC is the second ERC-20 token that customers can trade after 0x was added weeks ago. 💲

Other news
  • Boost VC has backed its 100th crypto startup, finally fulfilling a funding pledge the San Mateo incubator made back in March 2014 to invest in 100 bitcoin startups over the next three years. 💰
  • The Sri Lanka arm of the charitable organizations confederate, Oxfam Sri Lanka, has partnered up with blockchain startup called "Etherisc" that currently applies the Ethereum blockchain to a weather index insurance product, to help bring affordable insurance to paddy rice farmers in Sri Lanka. 👨‍🌾
  • A blockchain protocol created by MIT professor and Turing Award winner Silvio Micali, Algorand, has raised $62 million in new funding from cryptocurrency/ financial services communities and VCs. This comes after an initial $4 million seed founding round. 🤑
Poll of the Day
On a scale of 1-10 (10 being the most committed), how committed are you to your long term goals? 😀
And...are you better at planning for the short term or long term? Also, how can one stay committed to his/her long term goals? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being the most excited), how excited are you for the launch of the Bakkt cryptocurrency exchange by ICE?"

The average vote was 9.5. Aww yeah, its coming! 😀


You guys said:
Wanna see what’s up, I’m not much of a 'this is what I think' I’m more of a 'let’s wait and see' - It will be a huge win for the crypto community! 🙌
Adoption -  It will definitely bring some new money into the space. 💸
Frankly i don't know much.. but if it brings the bulls i am excited... 🙂 - Just go with the flow hahaha! 🤣

"Do you think the launch of Bakkt will be the catalyst to the next crypto bull run?"

80% voted "Yes."
20% voted "No."

"Why do you say so?"

You guys said:
It's something new - It will be a great addition to the space. 👍
Adoption - More will be inclined to get involved. 😁
Because everyone is saying so... - Don't take their word for it! But it will indeed be a huge win for us, regardless of whether it starts the next bull run. 👌
It will contribute to the circulation - Most definitely! 😉

Thank you all for reading! See you back here again tomorrow!💙💙💙
See you tomorrow!
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Always plan long term! 🌱
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