Happy Thursday, folks! The weekend is nigh. Finish strong!
Today in history (2003), Bill Maher's political talk show "Real Time with Bill Maher" debuted on HBO.
In today's newsletter, we will be covering Coinbase acquiring Neutrino, the Seoul Metropolitan Government committing to invest 1.2 trillion won ($1.07 billion) by 2022 in startups and BitGo providing $100 million of digital asset insurance coverage.
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! 📚
Not out of the waters just yet ☠️
Despite the high trading volume recorded for the past 24 hours, total market capitalization only rose ~$0.5 billion to ~$134.5 billion, with most coins either seeings gains or losses in the ~1-3% range. Notable mover of the day is Binance Coin (BNB), currently up ~14.8% for the day.
BTC is currently trading at ~$3,970, up ~0.9% over yesterday. While it may be trading above its 50-day EMA line on the daily chart, it still has yet to clear the 50-day EMA line on the weekly chart. Breaking past that resistance level would increase the likelihood that we have found the bottom. On the daily chart, RSI levels are currently at ~71, indicative of very strong bullish momentum, but also indicative of it being overbought in the short run. Furthermore, BTC is still trading outside the upper Bollinger Band (+2 standard deviations from the mean), indicative of abnormal short term bullish momentum.
Shared vision 👀
The U.S. state of Wyoming has passed 3 bills, aimed to make the state a top destination for crypto and blockchain businesses.
Last week, the Wyoming House of Representatives approved bill "SF0125", which recognizes digital assets as property and permits banks to act as crypto custodians. The bill was passed with a 54-2 vote in House, and a 29-0 vote in Senate a day later.
Wyoming House of Representatives also recently passed 2 other major bills, "HB0185" and "(HB) 0074", on cryptocurrency regulation. HB0185 enables securities to be issued in tokenized form, such that utilizing a blockchain token to represent a stock certificate to be a legally issued security would be legal in the state. HB 0074 allows the creation of “special purpose depository institutions to serve businesses which may not be able to access traditional banking services, including blockchain businesses.”
Healthy injection 💉
The government of South Korea’s capital city, the Seoul Metropolitan Government, has committed to invest 1.2 trillion won ($1.07 billion) by 2022 via a Seoul Innovation Growth Fund for startups, including those working with fintech and blockchain. 💰
It plans to invest 13.25 billion won ($11.75 million) in the first half of 2019, spread across investment segments such as the Fourth Industrial Revolution, Smart City and cultural content projects, startup support and rehabilitation support. It will then invest 8.4 billion won ($7.45 million) in the second half of 2019. 💪
The city government believes that the average initial investment of South Korean startups needs to be increased from about $1.1 million currently, as compared to places like London ($7 million) and Silicon Valley ($6.5 million) as “innovative start-up investment will be the cornerstone of corporate growth" of the Korean society.
Always wear protection ⛑️
Crypto security company BitGo is providing $100 million of digital asset insurance coverage against theft or the loss of cryptographic keys via the Lloyd’s of London insurance market. ☔
Custodial assets held in BitGo business wallets or under its qualified custodian arm, BitGo Trust Company, will be covered against third-party hacks or the theft of private keys; insider theft by employees of private keys; and physical loss or damage of private keys.
According to BitGo's CEO, Mike Belshe, “this is the most complete insurance offering in the industry” and BitGO is "being more transparent than any other company about the (coverage) terms". 🗣️
A property that defines the inability to be changed, especially over time.
Other news 📰
Elon Musk, founder and CEO of Tesla and SpaceX, has gone public in a podcast interview with investment firm ARK Invest with his belief that cryptocurrency offers an improved alternative to conventional money. 📢
Crypto startup True Digital has hired an investment engine department manager from the world’s largest hedge fund (Bridgewater Associates), Thomas Kim, to be its CEO. 🤝
Law firms Miller Thomson and Cox & Palmer will represent 115,000 QuadrigaCX customers in its case against the exchange. 👨⚖️
Crypto calendar 📅
31 Mar - U.S. SEC's initial decision onNYSE Arca and Bitwise Asset Management's Bitcoin ETF application
How much do you agree with this statement: "Persistence is more important than talent"
The average vote was 8.3. 42.9% of y'all even voted a '10'!
"Why do you say so?"
Persistent people get jobs successfully completed! Talented people create many goals but don’t reach some of them (without persistence that is!)_ It is absolutely more important. It doesn't matter how much talent you have, if you don't push through problems and just stop when you hit a problem you will never succeed. No one has so much talent that they never have problems. Persistence is key and so many people that win big have less talent than others, they just kept going. Because everything worth doing is worth doing wrong until you learn to do it right because ignorant on fire is better than knowledge on ice. Both are relative terms - being very good at either one is probably better than mediocre at both - but, when all is said and done, would prefer talent. With great talent, you will more likely get it right the first time. if u are pretty confident its will be good, but if you are wrong u can make a big mess. better is a balanced approach. Persistence is the daily force to succeed I am I huge fan of persistence, but not a hater of talent so 🇨🇭 Neutral on the matter, I do my best not to judge I have many logs in my eyes, we make the world 🌎 🌍 go round Brute force - Just like those ASIC miners. Because I’m Living Proof Nothing helps when you dont have this capacity as well You can’t achieve anything without persistence Both important for chance of success Most people bring something to the table...its persistance that often wins out. Through persistence, you can get talent and with a little of intelligence you become invincible! you can have talent but no heart. - It's about the fight in the dawg. Just because you have a talent does not necessarily mean that you will apply yourself to the fullest. - True. Many wasted talents and unfulfilled potential out there. Not every time, often persistence without a talent will get you nowhere anyway, at the same time if you have talent for something but you're not training it you won't be successful either. My point is that you have to find the right balance between the two, find something you enjoy doing and have talent for and with enough persistence you will get very close to being the best at it. - Well said. Both elements are needed 100%. Talent without persistence will just go to waste, might bot even get a chance to get noticed. On the other hand work on something long and hard enough and you WILL succeed. Some will probably say you have a talent! 14 hours ago If u doing and believe what u are doing in gizzillions time then it will be your talent automatically. Imagine if u do few things...u will have few talents as well onward. 14 hours ago If talented people are lazy then nothing happens. 14 hours ago Unless you're mosquito - the mosquito always loses if it's persistent
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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