Japanese conglomerate funds Securitize

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Your daily newsletter for 27 November, 2019

“So many fail because they don't get started - they don't go. They don't overcome inertia. They don't begin.” - Ben Stein

In today's newsletter, we will be covering:

  • Japanese conglomerate SBI injecting a 7-figure sum into Securitize

  • Former PBoC head saying that China's digital yuan will favor payments and retail

  • Bitcoin ATM firm partnering with largest shopping mall operator in the U.S.

We also have a cool "Unchained" podcast featuring CoinMarketCap for you all today, check out the link below! Also, do note that the next daily newsletter will return on Monday, 2 Dec due to Thanksgiving break! Happy Thanksgiving y'all! 🦃

Daily Market Summary - Boring 😴

 

Total Market Cap: ~$195.9 (~0.15%)                          BTC Price: ~$7,200 (~0%)

24-Hour Volume: ~$67 billion (~24%)                        BTC Dominance: ~66.3% (~0%)

Notable movers: -

New coins: -


 

Over the past 24 hours, total market capitalization bounced within a right range of ~$193 billion and ~$199 billion, and it currently stands at ~$195.9 billion. Most coins are either seeing gains or losses in the ~1-3% range. 

 

 

BTC is currently trading at ~$7,200, practically no price change over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is still at ~30, indicative of significant bearish momentum. On the weekly chart, BTC is also still challenging its 100-EMA support line. 

 

 

BTC is still testing the lower bound of its lower highs and lower lows trading pattern/ channel/ zone 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 really needed this Thanksgiving break."

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What are you thankful for this year in crypto? Share with me in the polls! 😆 

Injection 💵

 

 

Japanese financial services conglomerate SBI Holdings recently announced that it has funded digital securities service provider, Securitize, with a 7-figure sum. The announcement comes after Securitize said that it had accumulated $14 million in total from Santander Bank and MUFG. 

 

 

The new investment funds are planned to be used partially to build its new Japan office that is scheduled to open by year-end. 🗓️

 

 

According to Carlos Domingo, founder and CEO of Securitize, the company will "do business" in Japan, which involves "finding customers in Japan," "localizing the technology and making sure you [they] know the language for the next similar types of integrations that you [they] might be looking at."

Backing payments and retail systems ✌️

 

 

The President of the Chinese Finance Association and former Governor of the People’s Bank of China (PBoC), Zhou Xiaochuan, commented that China's digital currency method would be supporting international payments and domestic retail systems. 

 

 

He outlined 2 kinds of implementations of central bank digital currencies (CBDC) at the 2019 Caixin Hengqin Forum: an electronic payment-based domestic retail system, and international remittances for settlements between financial institutions.

 

 

Zhou, the longest-serving leader of PBoC and one of China's most powerful financial experts, also suggested that China will continue along the established route for its own digital yuan, committed to domestic retail systems and payments. 🛒 He also stressed the risks linked to CBDCs, saying that central banks, particularly those of the "super sovereign power," should be extremely cautious when selecting their direction, as the wrong choice "could even lead to a credit crisis."

In preparation for the holiday season 🎄

 

 

Miami-based Bitcoin (BTC) automatic teller machines (ATM) company, Bitstop, has teamed up with the biggest shopping mall operator in the U.S., Simon Malls, to place BTC ATMs at various select locations. 

 

 

Bitstop declared that the company has already set up BTC ATMs at 5 Simon Malls locations in California, Georgia and Florida ahead of the holiday season. 

 

 

Bitstop co-founder and CEO Andrew Barnard explained that the strategic timing of the new installations allows customers to conveniently purchase BTC whilst they do their Black Friday and Christmas holiday shopping. 🛍️

Other news 📰

 

  • Digital asset cybersecurity startup, Fireblocks, recently announced that it is moving ~$2.5 billion in cryptocurrencies every month. ➡️

  • South Korea's National Assembly is developing a bill that will lay out a legal foundation for cryptocurrencies in the country. 📝

  • Ex-Department of Justice (DOJ), Head of Enterprise Risk Management at Capital One, Jai Ramaswamy has been recruited by C Labs to lead its global regulatory, compliance and risk matters. ⚖️

Blockchain term of the day 🤓 - Confirmations

 

 

A transaction is only confirmed when it is included in a block on the blockchain, at which point it has one confirmation. Each additional block is another confirmation. Different exchanges require a different number of confirmations to consider a cryptocurrency transaction final.

Special announcement 📢 -  "Unchained" podcast featuring CoinMarketCap

 

 

Recently, our Chief Strategy Officer, Carylyne Chan, and Head of Research, Gerald Chee, got together with renowned "Unchained" podcast host, Laura Shin, to discuss all things CoinMarketCap. 

 

 

Topics that were covered included the history of Coinmarketcap, why the founder Brandon Chez initially focused on circulating supply to calculate market cap, how the ICO craze has changed the way Coinmarketcap defined circulating supply and how the kimchee premium on the Bitcoin price in Korea at the end of 2017 influenced the future direction of our website.

 

 

They also talked about how and why our company branching out into other areas such as metrics, blockchain explorers, hosting conferences, how the site has made money historically, the demographics, geographical distribution and behaviors of users on the site, and how Coinmarketcap’s web traffic is 90% correlated to the Bitcoin price.

 

Do check out the podcast here!

Special announcement 📢 -  CoinMarketCap Jobs Board

 

 

We have launched our very own, CoinMarketCap jobs board! See what jobs are available, and even post job listings if you are an employer! Do check it out here!

Crypto calendar  📅

 

TBA         - Justin Sun's lunch with Warren Buffett

What you said

 

"How much do you agree with this statement: "I am looking to increase the weight of cryptocurrency allocation in my overall investment portfolio.""

 

The average vote was 8. 48.1% of y'all even voted a '10'! 💪

"Why or why not?"

 

 

 

 

10/10 absolutely, but I am being very picky and cautious with what coins I will accrue. – As you should be! Gotta do that due diligence. 🤓

 

 

I see BTC as a good long term investment. – No doubt. 👍

 

 

yes more especially bitcoin, if i can just have at least 1 bitcoin i will be happy – Save up to get one! I recommend everyone to at least have 1 BTC and 32 ETH (to be a future node) 😄

 

 

Because I think we're at the lowest price ever – Still a high chance we might be heading down further. 😔

 

 

i do invest a portion of my savings in crypto every month. I have selected few coins i top up often. i have bought BTC at every range & keep doing it. my investment is doing very good. – Awesome! That’s great to hear that you’re sticking to your strategy. 😉

 

 

I'm just waiting for the dip to hit my price point. – You could put in a limit order! 👍

 

 

Yes! But with Alts that have a great and progressive future. I hope I’m not right but some of the originals, those that have been around for ever, will fail. – Why do you say that? 🤔

 

 

I think I have enough allocated that if they go up to previous ATH’s and beyond, I’m going to be pleased and then looking at re-balancing. – Now you just have to wait!

 

 

This is the Future of money and transactions. It is the opportunity of a generation. – Possibly! 🤑

 

 

Great time to accumulate very low priced coins. Last chance before the big boom - Don't think it'll be so soon hahah.

 

 

Because everybody needs a little Wild West in their portfolio!! – Heh, you’re right! 🤪

 

 

would love to... but the bank account says no 🙂 – Time to save up!

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

See you again on Monday!

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