“If you do what you love, it is the best way to relax.”
- Christian Louboutin
Happy Wednesday, folks! I hope your week is going as well as mine, because I am in Hawaii! 🌴
Today in history (1932), Franklin D. Roosevelt entered the U.S. presidential race. He ended up serving as President from 1933 to 1945.
In today's newsletter, we will be covering Bakkt on a current hiring campaign, Bithumb is looking to go public via a reverse IPO and India’s Institute for Development and Research in Banking Technology (IDRBT) publishing a blueprint on blockchain implementation in the banking sector.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Just a normal day 😴
In the past 24 hours, total market capitalization steadily increased in the early hours from ~$117.7 billion to ~$120.7 billion, where it continued to remain for the rest of the day. At time of writing, total market capitalization is up a modest ~$1.1 billion over yesterday, as most coins are seeing gains in the ~1-3% range. Notable mover of the day is Waves (WAVES), up ~25.6% for the day. BTC is currently trading at ~$3,600, up ~1% over yesterday. Nothing new on BTC's front, as it continues on its downward trajectory and continues making lower highs and lower lows. 🤕
Strengthening forces 💪
Soon-to-be launched Bitcoin futures exchange Bakkt has begun a hiring campaign, and is looking for 8 new hires as per their company's website. 👀
According to the site, they are looking for experienced software developers such as mobile and blockchain developers; an institutional sales manager with experience in North America or Asia; and three higher-level positions including a director of finance, director of security engineering and director for blockchain engineering.
Bakkt's most prominent hire to date is one of the longest-serving employees at Coinbase, Adam White, who joined Bakkt as chief operating officer in 2018.
That's another way to do it 👌🏻
Crypto exchange Bithumb is looking to go public via a reverse IPO through the acquisition of an investment firm called Blockchain Industries. Blockchain Industries has already signed a binding letter of intent (LoI) agreement with the holding company of Bithumb, BTHMB Holdings. 🤝
Once the deal is processed, which is anticipated to be 1 Mar, the combined entity would be known as Blockchain Exchange Alliance (BXA). BXA could become the first U.S.-listed crypto exchange. ⚡
According to Blockchain Industries' CEO Patrick Moynihan, the deal will help the blockchain sector by bringing "more advanced technology and better compliance practices into the public marketplace via a consolidated focus.” Through the deal, BTHMB Holdings plans to expand its business operations in North America.
Scouting out 👀
India’s Institute for Development and Research in Banking Technology (IDRBT), an entity established by the Reserve Bank of India (RBI) to conduct research and experiments in the banking sector, has published a blueprint on blockchain implementation in the banking sector. 👨🔬
In the blueprint contains a roadmap on blockchain adoption in several areas within the banking sector, and a plan to establish protocols that would allow financial institutions to interact via decentralized platforms. The road map also describes a built-in mechanism for regulatory supervision of the blockchain ecosystem which according to IRDBT, will help with mass adoption of the technology.
The IDRBT is also reportedly working with the Indian government, banks and industry players to build an interoperable blockchain platform. 🤖
A method of increasing privacy, by fusing inputs of multiple signers with that of the original sender to authorize a transaction. An example of a coin that uses ring signatures is privacy coin, Monero (XMR).
Other news 📰
Hong Kong graphics card producer Sapphire Technology is launching a new line of miners targeting the privacy-focused cryptocurrency, “Grin”. 🤖
The technology solutions provider for the London Stock Exchange Group, LSEG Technology, announced that its matching engine will be used to power a new Hong Kong-based digital assets exchange called "AAX". 💪
A Dutch banking and financial services group called ING has signed a 5-year licensing deal with blockchain consortium startup R3 for use of its Corda Enterprise platform. 🤝
How much do you agree with this statement: "If I had a crypto debit bank card that could immediately convert my crypto into fiat to make purchases, it would be of great use to me."
The average vote was 7.6.
"Why or why not?"
I invest and trade in crypto as a hobby that could turn into a nice savings 'account', not something I would do impulse buys with. - Fair enough. 😀 I am focused on daytrading....I don't want to spend my crypto - Acquiring now, huh? (: Tax implications could be annoying. Might increase impulse spending which could be bad with volatile currencies... Not sold on this yet. - Yeah tax implications could cause a huge headache until cryptos receive a classification from the government. Crypto in my debit bank card = Money in my pockets!! - I personally feel it would be pretty convenient. 👌🏻 Would just be a headache, unless I had additional software in place to handle the taxation issues it would bring. - True. Holding for now - HODL your bags and buckle up for the ride! 🙌 Would use it all the time - Personally, I feel that it's always nice to have the option to do so. That's more important to me than actually doing so. 😊 Unless the IRS changes its treatment of cryptos from commodity or property to a currency, you have to note capital gains every time you spend or trade, give up the private keys. It's too onerous, unless there's a wallet that will do that for us. - Good point. Crypto is meant to be cash. Bringing it to the plastic world would go a long way toward legitimizing it as currency. - It can be a great way to drive adoption in the space. 👌🏻 Because 99.999% of things you can buy, are with fiat, like it or not. - While currently true, this could change quickly in the future. More and more merchants are starting to accept crypto currencies as a form of payment. Immediate change fucking rocks - Hell yeah! 👍
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
See you again tomorrow! 😍 our newsletter? Share with a friend! 😡 our newsletter? Spam your enemy!