Justin Sun admits to investing in Poloniex

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Your daily newsletter for 14 November, 2019

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“Live dangerously and you live right.”

– Johann Wolfgang von Goethe

CoinMarketCap fam! If you missed our first ever CoinMarketCap conference, 'The Capital', here is a quick recap on the juicy bits that went down! #TheCapital 😄

 

 

Today in history (1908), Albert Einstein first revealed his quantum theory of light.

 

 

In today's newsletter, we will be covering Fintech arm of Chinese insurance giant filing for U.S. IPO, Tron (TRX) founder Justin Sun admitting to investment in crypto exchange Poloniex, and ASX-listed DigitalX's new fund.

 

 

Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say. 💭 Happy reading! 📚

Slight dip 📉

 

 

Over the last 24 hours, total market capitalization dipped slightly from ~$241 billion to ~$236 billion, with most coins either seeing losses in the ~1-3% range. 24-hour volume registered ~$68 billion. 

 

 

BTC is currently trading at ~$8,620, down ~1.9% over yesterday. On the daily chart, BTC is trading below its 100-day EMA support line, and RSI is at ~45. On the weekly chart, BTC broke below its 21-EMA support lineBTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀

Total Market Capitalizations

Poll of the Day

How much do you agree with this statement: "I enjoy attending crypto conferences."

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Why or why not? Share with me in the polls! 😆 

Recap of the top 5 things in Day 1 of 'The Capital' 🤔

 

  1. CoinMarketCap released a new liquidity metric to combat inflated volume reporting by crypto exchanges.

  2. Secretive CMC founder Brandon Chez and proof-of-stake inventor Sunny King discussed the consensus algorithm wearing masks and capes (plus with distorted voices).

  3. A delicious Italian-themed lunch was served with the overwhelming smell of truffles wafting from the risotto — the industry must be doing pretty well!

  4. TechCrunch and XRP Capital founder Mike Arrington called the crypto industry “sick” (not in the good sense).

  5. Finance app Circle’s founder and CEO, Jeremy Allaire, said that what many call the 2017 ICO “bubble” was actually “really interesting” because “we got a glimpse of what internet-based capital markets could look like.” He also said other important things in an exclusive interview with The Capital backstage.

Try and try again 💪

 

 

The fintech arm of China's biggest insurance company Ping An Insurance, OneConnect Financial Technology, has filed a prospectus on 13 Nov for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) with plans to list its shares on NASDAQ or NYSE. 

 

 

It is seeking to raise $100 million, with underwriters like Morgan Stanley, JPMorgan, Goldman Sachs, HSBC and more. Previously, Reuters reported that the company failed to go public in Hong Kong.

 

 

One Connect features 8 research institutes and 50 technology laboratories that work on blockchain projects in financial services industries, and has a FiMax blockchain network that supposedly boosts "data-sharing and privacy processes".

It was me 😜

 
 

Tron (TRX) founder Justin Sun recently admitted to being one of the investors that recently bought over crypto exchange Poloniex from financial technology business Circle in a livestream on 12 Nov. 

 

 

He highlighted that the trading platform operates independently from his company, the Tron Foundation. 

 

 

Just back In October, Sun refuted reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex. 

New fund 👏

 

 

The first-ever cryptocurrency business to be listed on the leading Australian Securities Exchange (ASX), DigitalX, announced the start of a new Bitcoin (BTC) fund on 13 Nov. 📰

 

 

It offers "qualifying wholesale and professional investors such as family offices and high-net-worth individuals exposure to the cryptocurrency via a “standard unlisted fund structure” without the effort and risk of holding it directly". 

 

 

In the announcement, DigitalX executive director Leigh Travers said that after talking to general investors and market participants, it became clearer that there is a "growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets". 

 

 

The company will kick off the fund by providing 215 out of its 431 BTC with an investment value of about US$1.89 million at current prices, with an aim to grow the investment vehicle and funds under management. 

Blockchain term of the day 🤓 - Atomic Swap

 

 

A way of letting people directly exchange one type of cryptocurrency for another on a different blockchain or off-chain without a centralized intermediary such as an exchange.

Other news 📰

 

 

  • U.K.-based Alternative Airlines has teamed up with cryptocurrency service Utrust to offer customers the option to book flights with cryptocurrencies. ✈️

  • Global banking leader HSBC will explore blockchain use with Singapore Exchange (SGX) and investment company Temasek for the allotment of fixed income securities. 💱 

  • Privacy-centric Coin Grin (GRIN) obtained an anonymous donation of 50 Bitcoin (BTC) to its General Fund on 11 Nov. 😎

Crypto calendar  📅

 

 

TBA         - Justin Sun's lunch with Warren Buffett

What's up in the markets

Bitcoin Dominance

Daily Top 10

Greatest Crypto Gainers

Greatest Crypto Loses

New on CoinMarketCap

What you said

 

 

 

"How much do you agree with this statement: "CoinMarketCap should continue hosting crypto conferences.""

 

The average vote was 8.7. 51.9% of y'all voted a '10'!

"Why do you say so?"

 

 

That's my love - ♡
 
 
It's great !!! – Aww, thank you! 😄
 
 
I feel included – Can’t leave y’all non-attendees hanging (:
Thank you all for reading! Catch you back here again next tomorrow for your daily dose of crypto news! 💙

See you again tomorrow!

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