US Institutional Crypto Exchange Seed CX Expands to Asia With New Partnership

US Institutional Crypto Exchange Seed CX Expands to Asia With New Partnership

United States-based institutional cryptocurrency exchange Seed CX has partnered with Singapore-based fintech company Hydra X to offer its trading service in Asia. Seed CX announced the development in a press release published on March 21. Per the announcement, Seed CX will join the list of supported digital asset trading venues available on the Sigma trading platform offered by Hydra X, which is currently in public beta. The partnership will also reportedly allow institutional Sigma users to access Seed CX’s fiat-crypto gateway. Seed CX is a licensed digital asset exchange for both spot market and U.S. Commodities and Futures Trading Commission (CFTC)-regulated derivatives. As Cointelegraph reported at the time, Seed CX closed a $15 million funding round led by alternative investment firm Bain Capital in September last year. More recently, in January, the exchange launched an on-chain wallet solution and then also spot trading, with both solutions limited to institutional clients. An analysis released earlier this week by crypto index fund provider Bitwise Asset Management argued that 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature.

Win $5K of BCH Playing Cashgames From Bitcoin.com

Win $5K of BCH Playing Cashgames From Bitcoin.com

Bitcoin.com’s gaming portal is filled with a plethora of casino-style games that allow you to wager and win with bitcoin cash (BCH). Last week, one punter did just that, scooping $5,000 of BCH from a progressive slot. All of the games that feature on Bitcoin.com’s Cashgames portal are provably fair, with a typical return of 99% or greater. All it takes is a little BCH to participate. Also read: The Fed’s Low Interest Rates and QE Have Created a Dependent Generation Anonymous Player Wins 33 BCH Playing Cashgames Bitcoin and betting have long been synonymous, with the earliest use cases for the digital currency comprising simple high-low gambling games such as Satoshi Dice. There’s even evidence that Satoshi intended to incorporate a virtual poker game into Bitcoin’s first code. At Bitcoin.com, we’ve maintained this tradition by enabling people to participate in games of chance in which the outcome can be verified. This type of transparency is at the heart of peer-to-peer currencies such as bitcoin cash, which is a natural fit for provably fair gaming. On March 18, one anonymous player tried their luck on one of the Cashgames progressive slots, and won 33 BCH, worth over $5,000. Cashgames features an array of casino favorites including video poker, blackjack, roulette, craps and keno. There’s also slots and dice, with the latter game akin to the original Satoshi Dice that was once so popular among early bitcoiners. Because Cashgames is powered by BCH, fast and low cost deposits and payouts are guaranteed. Players can try out all of the games in testmode before electing to deposit bitcoin cash and play for real. If you don’t have BCH handy, Sideshift integration will enable you to switch from other cryptocurrencies such as BTC quickly and privately. Alternatively, there is a BTC-based version of the portal called Bitcoin Games. Win up to 4,000 BCH in One Go Whether you choose to bet big or stay small on Cashgames is your call. Because of its provably fair setup, the gaming portal gives players confidence in the outcome of each hand played, dice rolled, or roulette wheel spun. While residents of a handful of countries including the U.S. are not allowed to play for real BCH, Cashgames is accessible in most…

Streaming Service Twitch Removes Crypto Payment Options, Reddit User Reports

Streaming Service Twitch Removes Crypto Payment Options, Reddit User Reports

Amazon-owned streaming service Twitch has evidently removed Bitcoin (BTC) and Bitcoin Cash (BCH) as payment options for subscriptions. The change was reported by a Reddit user on March 23. The user noted that Twitch had offered an option to pay with BTC and BCH employing BitPay as a payment processor, but has since “removed it in the last couple of weeks as a payment method for all countries.” One user, seemingly outraged, noted that they canceled all of their Twitch subscriptions and sent an assistance ticket to the company. On March 20, another Reddit user claimed that Streamlabs — a popular streaming software widely used by Twitch users to receive tips — also removed support for cryptocurrency. According to the user, a new version of the software that has been recently released no longer contains support for crypto donations. Twitch has not responded to Cointelegraph’s request for comment on the move by press time. In June 2018, major travel booking website Expedia.com confirmed to Cointelegraph that it had also stopped accepting Bitcoin as a payment method for hotels or flights. As Cointelegraph reported in August 2016, Twitch previously offered Bitcoin as a payment option using Coinbase as a payment processing gateway. In September last year, the company’s former executive, Matthew DiPietro, joined crypto startup Kin Ecosystem Foundation as its chief marketing officer.

BMW, Intel Partner With Government-Backed Blockchain Accelerator

BMW, Intel Partner With Government-Backed Blockchain Accelerator

BMW Group Asia, Intel and Nielsen are now corporate partners of the Singapore government-supported blockchain accelerator Tribe. Tribe Accelerator announced the news Friday, saying that the three firms will share their knowledge and subject expertise in their respective fields with Tribe’s startups in order to help build an “inclusive” ecosystem “ready for industry 4.0.” BMW Group Asia, for instance, will provide “masterclasses” and mentoring sessions on how blockchain solutions can be implemented in a mass market situation. “We hope we can help each of these startups develop their proof-of-concepts and reach the next stage of their development,” said Carsten Sapia, vice president – group IT and head of the Asia Pacific region, BMW Group Asia. Intel Corporation, on the other hand, will offer business and technical mentorship to startups. “Intel technologies like Intel Xeon Scalable processors and Intel SGX can help improve privacy, security, and scalability of blockchain solutions,” said Intel’s blockchain program director Michael Reed. Meanwhile, Nielsen will provide “a sandbox with the objective of providing participants with a safe, controlled environment to test new technologies and accelerate the adoption of their solutions.” Tribe Accelerator managing partner Ryan Chew said: “To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow.” Last month, Tribe also partnered with ethereum development studio ConsenSys to further the blockchain ecosystem in Singapore. Tribe Accelerator was launched last December as part of venture capital firm TRIVE Ventures, in partnership with South Korea’s ICON Foundation and PwC Singapore’s Venture Hub. Enterprise Singapore, a government agency set up to develop the startup ecosystem, is supporting the accelerator. BMW image via Shutterstock

Crypto Futures and Institutional Interest: Looking in the Wrong Place

Crypto Futures and Institutional Interest: Looking in the Wrong Place

Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. Last week, the Cboe let its traders know that it would not be renewing its futures contracts on bitcoin. This was taken by many as a sign that expectations of institutional interest in crypto assets were misplaced, and by some as a nail in the crypto coffin. If a significant venue like the Cboe doesn’t see a future in offering a product that institutional investors allegedly require, then obviously there’s no demand, right? And if the institutions don’t bring their money and legitimacy into the market, where is the much-needed liquidity going to come from? As usual, the reactions are overblown. The news is neither significant nor bad for the sector’s outlook. It does, however, shine a light on the recurring role of misplaced expectations in driving market narratives. Natural selection Cboe was the first traditional institution to offer bitcoin futures, launched in December 2017. It was followed a week later by a similar product from the CME. In the end, although volumes have been declining at both, institutional traders seemed to prefer the CME’s product. Let’s look at why. First, the CME is larger than the Cboe Futures Exchange, and in commoditized markets, size matters. Brokers would logically prefer to trade on a platform where they already have connectivity. Second, settlement methods are important, since they determine a position’s profitability. Cboe used the Gemini auction price to determine the value of its contracts – a price determined once a day on thin volume. The CME relied on an index comprised of data from a handful of liquid exchanges. Although the reliability of this pricing method has also been questioned, it seems that institutional traders saw the index as the less manipulable of the two options. The suspension of one particular type of bitcoin futures contract usually says more about product structure than the underlying commodity and is far from an isolated incident. By some estimates, more than half of futures launches fail to reach critical mass, and simply fade away. No big deal The…

How Lightning Makes Bitcoin Great Again (for Payments)

How Lightning Makes Bitcoin Great Again (for Payments)

Alex Bosworth of Lightning Labs describes the history and benefits of the Lightning network, as well as a secret Spongebob reference. Subscribe to CoinDesk on YouTube: http://www.youtube.com/subscription_c… Site: https://www.coindesk.comFacebook: https://www.facebook.com/CoinDeskTwitter: https://www.twitter.com/coindeskInstagram: https://www.Instagram.com/coindeskNewsletter: https://www.coindesk.com/newsletter/Twitter (Markets): https://www.twitter.com/coindeskmarkets CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community.

Indian Supreme Court Set to Hear Crypto Case on March 29

Indian Supreme Court Set to Hear Crypto Case on March 29

The four-week window that the Indian supreme court has given the government to come up with crypto regulation is coming to an end. According to the court’s Advance List, the crypto case is listed for March 29. Meanwhile, the community is ramping up efforts to bring about positive crypto regulation and the end of the banking ban imposed by the central bank. Also read: Indian Exchange Launches Lending Program for 5 Cryptocurrencies Advance List Shows Hearing Date: March 29 The deadline given to the Indian government by the country’s supreme court to come up with a regulatory framework for cryptocurrency is drawing near. On Feb. 25, the court gave the government four weeks to produce crypto regulation. That period is up next week. Nishith Desai Associates lawyer Jaideep Reddy represents the Internet and Mobile Association of India (IAMAI) in its writ petition against the crypto banking ban by the central bank. He told news.Bitcoin.com Saturday: The supreme court publishes something called the ‘Advance List’ and according to that, the case is listed on March 29. The final list which will have the confirmed date should be out early next week. While the court’s Advance List currently lists March 29 as the next hearing date for the crypto case, it is still subject to change. Furthermore, the court will first hear about the regulatory framework for cryptocurrency from the government and may not address the crypto banking ban by the central bank, the Reserve Bank of India (RBI), on the same day. The regulatory framework for cryptocurrency in India is being drafted by an inter-governmental committee headed by Subhash Chandra Garg, Secretary of the Ministry of Finance’s Department of Economic Affairs. During the last supreme court hearing, the government told the court that this committee was in its “final stages of deliberations.” There have been a few reports speculating on what the recommendations by the Garg committee entail. CNBC TV18 claims that their sources said the panel has suggested a ban on cryptocurrencies. However, another report states that the panel has suggested cryptocurrency “needs to be legalized with strong riders.” Efforts to Lift RBI Ban The RBI issued a circular which prohibits banks from providing services to crypto businesses including exchanges back in April last year.…

The Fed’s Low Interest Rates and QE Have Created a Dependent Generation

The Fed’s Low Interest Rates and QE Have Created a Dependent Generation

On March 20, the Federal Reserve’s Open Market Committee (FOMC) unanimously decided to keep federal interest rates unchanged. Critics believe that the central bank’s policy of near-zero interest rates and quantitative easing (QE) has corrupted the U.S. economy for nearly a decade and spawned a generation of socialists. Also read: Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory The U.S. Federal Open Market Committee Too Stubborn to Raise Interest Rates This week, numerous news outlets described how the Federal Reserve’s FOMC opposed changing interest rates again. The group seems leery toward normalizing the Reserve’s monetary policy. The central bank hasn’t budged on increasing interest rates higher than 3 percent since the financial crisis in 2008. This week’s FOMC shows the Fed is not willing to increase rates anytime soon and the current monetary policy will be sustained for the foreseeable. A number of economists think that the Fed’s stubbornness will impact badly on the economy for a variety of reasons. For one, keeping interest rates low distorts people’s perception of a healthy economy when younger generations grow used to homes and car loans boasting near-zero rates. Economists believe that the Fed’s low interest rates make savings an unattractive goal and with extremely low rates the idea of savings doesn’t make sense. Low rates hurt smaller banks like credit unions because individuals choose to keep fewer funds in checking and savings accounts. The rates also cause inflation to rise which makes savings even less worthwhile and to a majority of people borrowing makes more sense. This, in turn, makes debt increase as near-zero rates encourage people to consume more than they can afford. With rates never rising above 3 percent, the last decade has seen growing debt and excess and quantitative easing has fueled the flames even more. In addition to low interest rates since the Federal Reserve and Chairman Ben Bernanke’s administration, the Fed has been a money printing machine. A Decade of Near-Zero Rates and QE Is Creating a Generation of Socialists Back in the summer of 2016, it was estimated that the Fed had printed over $12.3 trillion of new money and nearly $10 trillion in negative-yielding global bonds since the financial crisis in 2008. Even…

Accepted: MakerDAO Vote to Raise DAI Stablecoin Stability Fee by 4% to 7.5% per Year

Accepted: MakerDAO Vote to Raise DAI Stablecoin Stability Fee by 4% to 7.5% per Year

Users of Decentralized Autonomous Organization (DAO) MakerDAO (MKR) have voted to raise the so-called stability fee for Maker’s DAI (DAI) stablecoin by 4 percent, according to the results of a recent poll completed on March 21. The firm announced on Thursday that users had voted yes to the proposal to increase the stability fee by 4 percent, from 3.5 percent to 7.5 percent. The reasons provided by the post are that the DAI’s exchange persists under one dollar, high inventory levels among market makers and prop desks, and insufficient impact from the previous fee increase. The MKR token holder could choose whether to raise the fee by zero, two or four percent. Still, the vote page explains that “the absence of any significant volume clearing near $1 indicates that there needs to be stronger incentives in place” than a 2 percent increase. Lastly, the post admits that a 4 percent increase is “the largest one-time raise, and runs the risk of overshooting our estimate. Of course, the correct Stability Fee could still be 7.5% or higher.” The MakerDAO token MKR, which grants voting rights, is currently ranked the 16th largest cryptocurrency on CoinMarketCap and is up 1.12 percent at press time. As Cointelegraph recently reported, MKR token holders already voted to raise the DAI stability fee to 3.5 percent this month. Senior advisor for digital assets at the United States Securities and Exchanges Commission Valerie Szczepanik reportedly noted last week that stablecoins could experience issues under current securities laws.

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. As the cryptocurrencies are rising from the bottom, we have started to hear some bullish voices again. Arthur Hayes, co-founder and CEO of BitMEX, expects the price of Bitcoin to reach $10,000 this year. One of the events that can cause the price to move northward is the launch of Bakkt. The digital platform’s launch has reportedly been getting delayed due to compliance issues, as it planned to have custody of its customers’ Bitcoin. Nonetheless, the United States Commodity Futures Trading Commission (CFTC) has said that it is working on all the various crypto-related applications, including Bakkt. So, it could be only a matter of time before they get the green signal. After the long bear phase, the current recovery is being led by various altcoins. Though the leader, Bitcoin, has only been crawling higher, the altcoins are seeing some sharp gains from the lows. The rise has reduced the dominance of Bitcoin in the past few weeks. In order to cover the altcoin rally better, we have chosen the top five performers among the coins that have a market capitalization of greater than $500 million.    ONT/USD Ontology is the top gainer of the past week, as the markets cheered the various announcements made in the past few days. Ontology entered into a partnership with MovieBloc, a new participant-centric film distribution platform, that is backed by Korean video streaming platform Pandora.tv. Li Jun, founder of Ontology, said that the project had completed a loyalty-based points solution for Fosun, a Chinese international conglomerate and investment company that has about 100 million users. Ontology is also working on chemical supply chain tracking for the Lanxess group. Will the rally continue or will the traders book profits? Let us find out. The ONT/USD pair is in a smart pullback after hitting a low of $0.43598112 in December of last year. It is currently in the midst of forming a rounding bottom, which will complete on a breakout above $2.26296972. The minimum target objective of this reversal pattern is…