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| July 20, 2018

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TMZ

‘RHONY’ Star Luann de Lesseps Spiraled for 2 Weeks Before Rehab Decision

July 17, 2018 |

Luann de Lesseps going back into rehab might have shocked fans, but the people closest to her knew she was only pretending to be sober for weeks now … TMZ has learned. Sources close to the ‘Real Housewives’ star tell us she fell off the wagon…

TMZ.com

Plane’s Scary Descent Linked to Pilot’s Decision to Vape

July 13, 2018 |

“When I close my eyes, I see the oxygen masks dangling in front of me.” That’s the lingering anxiety of a passenger on a recent Air China flight that plummeted thousands of feet after oxygen levels dropped. A senior official from the Civil Aviation Administration of China tells CNN the…
Newser

DOJ Appeals Judge’s Decision on AT&T-Time Warner Deal

July 12, 2018 |

The US Department of Justice has filed an appeal of a judge’s decision last month to allow a merger of AT&T and Time Warner. The AP reports that the DOJ filed the appeal Thursday in a bid to block the deal, which federal officials argue would make the television market…
Newser

Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision

July 12, 2018 |

Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision

Everyone knows that bitcoin and cryptocurrency prices have been on a steady decline since the last month of 2017. While digital asset spot prices have been quite volatile, bitcoin futures products provided by two of the world’s largest derivatives exchanges, Cboe and CME Group, have seen a steady increase in trade volume and more liquidity within these markets. Furthermore, Cboe is hoping to launch a bitcoin-based exchange-traded-fund (ETF) and the US Securities Exchange Commission will decide on the fate of this new product on August 10.

Also Read: Bitcoin in Brief Thursday: Crypto Phones, Spy Games, Binance CEO vs Vitalik  

While Spot Prices Decline Bitcoin-Based Futures Contracts Have Been Steadily Increasing

Cryptocurrency spot prices have been in a slump over the past two quarters of 2018 but rumor on the street is institutional interest in cryptocurrency custody and regulated investment vehicles is picking up speed. Even though market sentiment has been bearish, futures contracts sold by Cboe and CME Group have increased significantly during the second quarter of 2018. Right now, on July 12, there have been 1199 contracts filled so far and products for the month of August are adding up today as well. Cboe has been selling between 2500-18,000 bitcoin futures contracts per day.

Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision
CME Group sees a spike in futures contract volumes on July 5.

CME Group’s bitcoin futures volumes are usually less than Cboe’s trade volume but contracts sold on Globex have also spiked. Today CME has 2634 contracts sold for July and products for August and September are seeing a small increment of sales. CME Group’s contracts jumped to 6739 on July 5, marking a new record for CME’s bitcoin derivatives market. However, it’s still not even close to the record-setting 18,000+ contracts Cboe recorded on April 25. With the steady trend of investors getting into bitcoin-based futures products, Cboe hopes these derivatives markets will pave the way towards a bitcoin ETF.

Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision
Cboe bitcoin futures touched 6,121 contracts on July 5.

The Fate of the Cboe Bitcoin ETF Will be Decided August 10 — Will the Futures Markets Launch Affect the SEC’s Decision?

On July 9, Cboe announced it has filed an application with the US Securities and Exchange Commission (SEC) so it can sell a bitcoin-based ETF backed by the Vaneck Solidx Bitcoin Trust. The SEC is seeking public opinion concerning the ETF application in order to help guide their decision on whether or not they will approve a bitcoin ETF this time around. Since the first announcement this past Monday, the SEC has revealed the fate of the ETF will be decided on August 10.

Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision
The SEC will decide on Cboe’s bitcoin ETF application on August 10, 2018.

“We believe that collectively, we will build something that may be better than other constructs currently making their way through the regulatory process,” explained the Vaneck CEO Jan van Eck this week.  

A properly constructed, physically-backed bitcoin ETF will be designed to provide exposure to the price of bitcoin, and an insurance component will help protect shareholders against the operational risks of sourcing and holding bitcoin.

The SEC may also look into how well the current bitcoin futures markets have done so far, and if there were any issues during the launch of those derivatives products. With the bitcoin futures volume spikes, there’s been a lot of action within these regulated market settings and investors seem to want these products — And some people think a bitcoin ETF should naturally follow.

What do you think about the bitcoin futures trade volumes and current interest in these products? Do you think that the SEC will approve Cboe’s ETF application based on their prior experience with these futures markets? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Cboe, and CME Group.  


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision appeared first on Bitcoin News.

Bitcoin News

Bricks-and-mortar retailers get a boost from Supreme Court decision favoring online sales taxes

June 25, 2018 |

Walmart Inc. has been aggressively building up its e-commerce site in the last two years as the nation’s largest retailer challenges online giant Amazon.com Inc. and other internet mass merchants.

But Walmart still operates 4,761 Walmart stores and 597 Sam’s Clubs stores in the United States that…


L.A. Times – Business

Russian Court Overturns Decision to Block Bitcoin Website

June 6, 2018 |

Russian Court Cancels Decision to Block Bitcoin Website

A Russian court has overturned a previous court decision to block a bitcoin-related website because it contains information about cryptocurrencies. The Supreme Court ordered the city court to hear the appeal.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Russian Court Overturned Previous Decision

Russian Court Overturns Decision to Block Bitcoin Website
St. Petersburg City Court.

The St. Petersburg City Court has overturned the ruling of the Vyborgsky District Court of St. Petersburg to block the Bitcoininfo.ru website in Russia.

“The St. Petersburg City Court quashed the decision of the district court to recognize the information posted on the Bitcoininfo.ru website,” Tass reported the city court explaining on Monday, June 4.

“Vyborg District Court of St. Petersburg will again consider the case of the blocking of the site on cryptocurrencies, www.bitcoininfo.ru,” Rapsi learned from the city court, adding:

The city court canceled the decision to block the site and sent the case [back] to the Vyborgsky District Court for a new hearing.

Problem With Spreading Crypto Information

This case began in July 2016 when the St. Petersburg Vyborgsky District Court made the ruling to block the Bitcoininfo.ru website in absence of the site owner. The court “considered the statement of the prosecutor’s office that the site contains information about cryptocurrencies” and decided to block the site, the publication detailed.

Russian Court Overturns Decision to Block Bitcoin WebsiteAccording to the case file, Tass explained that the prosecutor’s office demanded the site be blocked based on its content about cryptocurrencies that “do not lend themselves to state control,” “promote the growth of the shadow economy,” and “do not have certain consumer properties.”

The representative of the website’s owner, Sarkis Darbinyan, told the publication that the prosecutor’s actions “takes place without the involvement of site owners,” adding that none of them received “requests for the removal of prohibited information, and the city court refuses to accept appeals after the actual blocking of websites.”

He further detailed:

According to the statements of the prosecutor’s office of St. Petersburg, about 100 sites devoted to cryptocurrencies have been blocked.

The domain administrator appealed against the court’s decision, believing it to be illegal. However, the city court did not consider his appeal so he appealed to the Supreme Court of the Russian Federation, which subsequently ordered the city court to consider his complaint.

In March, the St. Petersburg City Court struck down a ban on 40 bitcoin-related websites offering information about cryptocurrencies and exchange services in Russia, as news.Bitcoin.com previously reported.

Do you think bitcoin websites will finally be unblocked in Russia? Let us know in the comments section below.


Images courtesy of Shutterstock, Pixabay, and Wikimedia.


Need to calculate your bitcoin holdings? Check our tools section.

The post Russian Court Overturns Decision to Block Bitcoin Website appeared first on Bitcoin News.

Bitcoin News

Stripe Founders Discuss Decision to Drop BTC Payment Services

June 2, 2018 |

Stripe Founders Discuss Decision to Drop BTC Payment Services

The co-founders of Stripe, brothers Patrick and John Collison, recently discussed the company’s decision to no longer support bitcoin payments, and expressed a willingness to reverse this decision in future.

Also Read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty

Declining Use of BTC as Means of Payment

Stripe Founders Discuss Decision to Drop BTC Payment ServicesIn a recent interview with Bloomberg, Stripe co-founders John and Patrick Collison shared their view of bitcoin and the cryptocurrency markets, and discussed Stripe’s decision to no longer facilitate BTC payments made earlier this year.

When asked whether the company’s decision to no longer conduct bitcoin payments through its platform would leave it “on the wrong side of history”, Patrick Collison responded, “We’re absolutely open to revisiting this.”

Patrick sought to emphasize that the reasons underpinning Stripe’s decision to move away from BTC are “a question for the bitcoin community, basically, and especially the architects of the software, whether they want to optimize bitcoin for being a payment method, or for being […] a form of digital gold, a store of value.”

“At the time we made our decision, it was trending towards being a digital store of value – I think that’s a valuable thing to have exist in the world, […] I genuinely wish them the very best with that […] It just works less well for our use case, and this wasn’t […] a decision where we wanted to be the arbiter, we were just looking at the data, and it was declining rapidly in use as a payment method, if it starts increasing [in use] again as a payment method, then sure, great, we’ll go back and we’ll add it,” Patrick said.

Stripe Founders Remain “Fascinated by Cryptocurrencies From a Technology Point of View”

John Collison echoed his brother’s sentiment, emphasizing that “the speed and cost” of conducting “transactions on the bitcoin network was the main” issue. “Our determination was that bitcoin is not a good payment method, which is a very different discussion than cryptocurrencies generally,” John said.

Regarding the current state of the cryptocurrency sphere broadly, John stated that he believes “there is a ton of promise that has not actually been shown in real-world applications yet, and while we are waiting for those real-world applications, I think people are getting a little distracted by some of the hype.”

“I see tons of companies, and tons of people, getting distracted by almost vanity projects of ‘we’ll put this database on the blockchain or things like this’ because people are not really weathered in the technical details,” John continued.

Do you think that BTC will see an increase or further decline in its adoption as a means of payment? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Wikipedia


Need to calculate your bitcoin holdings? Check our tools section.

The post Stripe Founders Discuss Decision to Drop BTC Payment Services appeared first on Bitcoin News.

Bitcoin News

Trump Defies Congress With Decision on Chinese Firm

May 26, 2018 |

Well, ZTE is back in business—sort of. Washington will drop sanctions against the Chinese telecommunications giant if it makes management changes and pays a big fine, a Congressional aide tells Reuters . President Trump tweeted more, saying that “I closed it down then let it reopen with high level security…
Newser

Companies Prepare for the Worst Amid Trump Iran Decision

May 8, 2018 |

Any new U.S. sanctions would likely affect European multinationals, if they have big business stateside or use the U.S. dollar or American banks in transactions.
WSJ.com: What’s News Europe

Trump Sets Time for Decision on Iran Deal

May 8, 2018 |

President Trump says he will announce his decision on the Iran nuclear deal at 2pm Tuesday—and he is widely expected to declare that the US is pulling out. European diplomats who have been trying to change the president’s mind now say the chances of him staying in the agreement…
Newser