Daily Email Archive

Why so serious

Your daily newsletter for April 1, 2019
Lighten up
“Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.
- Allen Klein
Welcome back ladies and gents! It's April fool's! Try your best not to get fooled today yeah? 😂

Today in history (1976), the late Steve Jobs and Steve Wozniak created Apple Computer. They later incorporated the company on 3 Jan, 1977, in Cupertino, California. 🍎

In today's newsletter, we will be covering the U.S. SEC postponing its decision on the Bitwise and VanEck Bitcoin ETF proposals, the U.S. SEC looking to hire a “crypto specialist” attorney advisor and a municipal in Ontario to start accepting Bitcoin (BTC) for property tax payments.

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! 📚

Poised 😋
Over the majority of the weekend, total market capitalization gradually increased, less the sharp rise and fall during early Saturday. It currently stands at ~$145.1 billion. 

BTC is currently trading at ~$4,090, up ~0.3% over yesterday. Over the weekend, BTC broke past its 100-day EMA line on the daily chart. It looks poised to break through its 50-day EMA line on the weekly chart ,a level it is currently challenging at the moment. 😀 This is a level it has failed to break through from since mid Nov 2018.

Yet again 🤦‍♂️
The U.S. SEC has postponed its decision on the Bitwise and VanEck Bitcoin ETF proposals. 😔

The SEC now has another 45 days to consider the Bitwise proposal. It will "either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change” by 16 May this year.

As for the VanEck Bitcoin ETF proposal, it was published in the Federal Register on 20 Feb and hence the U.S. SEC has until 21 May to make a firm decision. 

Casting the net 🥅
According to a job posting on an official government jobs portal, USA jobs, the U.S. SEC is looking to hire a “crypto specialist” attorney advisor. He has to apply their “knowledge of federal securities laws to digital asset securities and crypto matters". 🙌

The SEC's Division of Trading and Markets is seeking a new legal expert to develop a “comprehensive plan” to address crypto and digital asset securities. He will serve as the division’s lead representative in the SEC’s FinTech Working Group and be a liaison with the Financial Stability Oversight Council’s (FSOC’s) Digital Assets Working Group. 😲

On a more macro level, the new hire will be a point of contact for U.S. and international regulators, market participants and the public. 

Moving with the times 👍
In a partnership with digital assets trading platform Coinberry, the town of Innisfil, Ontario in Canada will accept Bitcoin (BTC) for property tax payments starting this month as part of a 1-year trial. 

Approximately 36,000 residents will be able to see BTC as a payment option on the municipality’s website. Through Coinberry's crypto payment processing solution Coinberry Pay, residents will be able to pay taxes in BTC through the Innisfil digital wallet. 😀

According to Innisfil's mayor, Lynn Dollin, "there’s no doubt that cryptocurrency is growing in usage and popularity. By getting into this now, we are making sure our municipality is ahead of the game, and signalling to the world that we truly are a future-ready and innovative community.” 

Blockchain term of the day 🤓 - Bear trap
A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. In response, other traders sell their assets, further driving the price down. Those who set the trap then release it, buying back their assets at a lower price. The price then rebounds, allowing them to make a profit.

Special announcement 📢 - 'A 10-Year Perspective: From Genesis to Today' webinar with Karthik Iyer
Join us in our second webinar as Karthik shares the history on how the crypto space came to be. From the day Satoshi Nakamoto announced the first Bitcoin client on the P2P-Foundation website, to how everything transpired and evolved to its current state. Join us as he takes us in a trip back in time in the cryptoverse!  

Karthik Iyer is an ambassador for the P2P-Foundation, venture partner of Genesis Block NYC and CEO of BlockchainMonk!

The webinar will take place on 14th April 2019, 10pm Eastern Time (UTC-4) / 15th April 2019, 10am (GMT+8). But before all that good stuff, be sure to fill our the pre-webinar survey form here

Special announcement 📢 - CoinMarketCap Mobile App Beta Launch
Calling all CoinMarketCap crew... 🤙

We are soon going to be launching our new CoinMarketCap mobile app! If you are interested in participating in our private beta launch and help us test it, simply fill out the form here! What are you waiting for! 😀

Other news 📰
  • South Korean crypto exchange Bithumb has been hacked for $13 million in EOS (EOS), which it suspects to be an insider job. 💸
  • Bakkt has tapped a former Cisco and IBM executive, Tom Noonan, to spearhead its board of directors. 🔥
  • The director of institutional sales at Coinbase, Christine Sandler, has left the cryptocurrency startup for financial service provider Fidelity Investments. It is rumored that she will join the team at Fidelity Digital Assets (FDAS), the crypto custody and brokerage service for institutional investors. 🤝
Crypto calendar 📅

16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
21 May - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
TBA      - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline

Catch the CoinMarketCap team at these community events! 🤝

8 Apr          - The Global Hackathon (Los Angeles, U.S.)
18-19 Apr   - Blocklive.Asia (Singapore)
23-24 Apr   - 3rd International Blockchain Life 2019 Asia (Singapore)
25-26 Apr   - Trescon World Blockchain Summit Taipei (Taipei, Taiwan)

Poll of the Day
How much do you agree with this statement: "I'm more alert on 1 April than normal days" 💭
What is the best April fool's joke you've seen or heard? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "I would find a crypto credit card useful. One that could automatically convert crypto to fiat and make the purchase. ""

The average vote was a 8.4.

"Why do you say so?"

Taking overseas holiday and sick of paying exorbitant exchange fees - Those exchange fees sure can be brutal... 🤕
...the card automatically should convert the coins into US $ or €.... - Yup, it would be really useful to have a card that can automatically convert crypto into the major currencies. 👌🏻
This is the conect between mainstream and crypto - A bridge we have to build! 🔨
I think it would be extremely convienent and may be able to store crypto safely. - Agreed, although you wouldn't be storing your crypto on the card. 
It would just simplify cryptocurrency across the board! - True!
Good as long as fees remain low. - No doubt. It has to be low in order to drive adoption.
I need one NOW!!! - We all do! 😀
Absolutely! There is a market of people who would rather work, or sell something for payment in crypto. - Very true, there still aren't enough gateways out there. 
Because I think it's the way of the future. - It's coming! ⌛
converting crypto into fiat is always a ball ache for me so i guess a credit card would make like simpler - Hahaha, yes I agree 
Always at the expense of high cost. And problem of inconsistencu - This should get sorted out in the long run. 👍
useful very, in fact I'm working on exact same idea, problem however, it needs to be done at a spot price on the very moment you do the purchase, secondly you will need a top ten or 20 list of currencies to work on and only that. But in different regions of globe different cryptocurrencies would certainly apply. As it certainly is cheaper to mine BTC in first world compared to 3rd world. - Yes I agree, that way users will feel more at ease as the uncertainty is mitigated. 
oh i would love to have one.. it will make spending much easier (i receive part salary in crypto). this will also increase adoption.
- Wow that is awesome! I really hope that more and more people will want to receive at least part of their salary in crypto. It would really really help the space. 😋
A credit card would be the easiest and hopefully cheapest way to spend cryptos. - Talk about convenience! 
I currently use a wirex card which is the nearest you can get to a crypto / cash card and it is fantastic. - I've seen the TenX and MCO cards. Hmm Wirex, I should probably check that out! 👀

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
See you again tomorrow!
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