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| January 21, 2019

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Newspaper Ad Seeks Donations for Bitcoin Baby’s College Fund

January 13, 2019 |

Newspaper Ad Seeks Donations for Bitcoin Baby’s College Fund

Despite being just one week old, Izabella Bowles carries great expectations upon her tiny shoulders. The baby, born on Jan. 6, will go to college when she’s older, if parents Wioletta and Peter can help it. What’s more, her future tuition fees will be paid for using what many believe to be the future of money – bitcoin.

Also read: Thai Startup Atomicpay Launches Non-Custodial Crypto Payment Platform

Wanted: Donors to Support Bitcoin Baby’s College Fund

The listing in The Times looks a little different from those adjacent to it on the births, marriages and deaths page. Aside from the prominent black box delineating it, there’s the unusual title – “Bitcoin Baby” – and the string of 33 multi-case letters and numbers running across the bottom. Appearing in the same newspaper from which Satoshi famously derived his encoded genesis block headline (“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”), the ad’s placement appears to have been a knowing nod from Izabella’s parents. Just three days earlier, Bitmex used the same British newspaper to take out a double-page ad marking Bitcoin’s 10th anniversary.

Newspaper Ad Seeks Donations for Bitcoin Baby’s College Fund
Izabella’s BTC college fund address

While the Bowles family are not the first to attempt to solicit donations for their child’s education, their methodology is certainly novel. There are signs that their college campaign has been successful so far, with little Izabella’s BTC address having amassed 0.84 BTC from 75 transactions in the past few days. Interestingly, the address in question, 1ZAB5XeKMdvax2S8eZT7GQ6Nj4xjbsw1Y, bears more than a passing resemblance to the name of the child who will one day inherit it.

Mixed Opinions About the Bitcoin Baby’s Fund

With the average cost of a four-year British university education priced at $ 52,000, Izabella’s fund is already 7 percent of the way there. Given the difficulty associated with manually typing in a bitcoin address, the donations that have arrived so far are likely to have come from the address being shared online rather than extracted from the print edition of The Times.

Newspaper Ad Seeks Donations for Bitcoin Baby’s College Fund

On Reddit, opinion has been divided about the bitcoin baby’s college fund, with one describing the parent’s initiative as a “disguised way to beg.” Others applauded the parents’ ingenuity, but took issue with the fact that the baby’s real-world identity will be forever tied with a BTC address. Predicting how much bitcoin will be worth 18 years from now is all but impossible. If past performance is anything to go by, however, Izabella’s 0.84 BTC might already be enough to fund her college tuition in 2037.

What are your thoughts on the bitcoin baby’s college fund? Should her parents be applauded or criticized for their actions? Let us know in the comments section below.


Images courtesy of Shutterstock and Reddit.


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

The post Newspaper Ad Seeks Donations for Bitcoin Baby’s College Fund appeared first on Bitcoin News.

Bitcoin News

Fund Providers Insist There’s Enough Market Liquidity for a Bitcoin ETF

January 10, 2019 |

For years, bitcoin exchange traded funds (ETFs) have been struggling to get off the ground and receive approval from the U.S. Securities and Exchange Commission (SEC). Passive fund providers are now arguing there is sufficient market liquidity for a bitcoin ETF to be launched in 2019. 

Also read: SEC Wants Second Look at Nine Bitcoin ETFs

ETFs to Top $ 9 Trillion by 2022

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETFETFs are becoming a large part of the investment landscape. Research firm ETFGI predicts that in 2020, ETFs and ETPs listed in Europe will reach $ 1.1 trillion. Morgan Stanley forecasts global ETF assets to top $ 9 trillion by 2022. As interest in these products grows, regulators have been addressing structural vulnerabilities. Research conducted by broker and asset manager Charles Schwab shows the millennial generation is increasingly choosing to invest in ETFs accessed by apps. It could be a game-changer when – or if – the SEC approves a bitcoin ETF. 

There have been a number of applications submitted over the years. The most recent ones include Proshares, which had two proposals for a bitcoin ETF, both based on bitcoin futures contracts. There was also the Vaneck-Solidx proposal which is based on a physical-backed bitcoin ETF. Before an ETF is approved to trade on one of the U.S.’s major exchanges, there is a number of factors which need to be considered.

Bitcoin Market Cap Stands at $ 72 Billion

Last year, Blockforce Capital launched blockchain ETFs in the form of BLCN and the world’s first Chinese blockchain ETF, BCNA.  Eric Ervin, CEO of Blockforce Capital, told news.Bitcoin.com the current market environment has the ability to support an ETF for two primary reasons.

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETF“First, [BTC] has a market cap of $ 72 billion,” he explained. “While this is small in comparison to many blue-chip stocks, there are a number of ETFs currently on the market that are focused on esoteric assets. For example, iShares’ IWC ETF focuses on micro-cap stocks, and has almost $ 900 million in assets. Collectively, the underlying stocks have a market cap of about $ 450 billion. That number dwarfs bitcoin’s market cap, but when looking at the underlying assets’ liquidity, there are significant volume constraints.”

Ervin explained that 40 percent of the IWC fund comprises holdings that are greater than 50 percent of the average 30-day volume. This is because most are micro-caps, and are also only listed on U.S. exchanges. Ervin highlights that in comparison, BTC’s 24-hour trading volume is about $ 5.3 billion, and trades on multiple exchanges around the world, allowing global investors to add liquidity to the marketplace.

Exchange Arbitrage Is a Growing Business

As the market develops, participants are becoming more sophisticated and exchange arbitrage is a growing business.

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETFErvin said: “Exchange arbitrage – buying bitcoin on exchange A and selling on exchange B to take advantage of small price inefficiencies – is a growing business as many traditional market players enter the space because returns from arbitrage are considered ‘risk free’ as the strategy has no directional exposure.”

When the Blockforce Capital team started arbitraging prices at the beginning of summer 2018, they were averaging around 75 bps profit per trade. “That number has dwindled and the number of opportunities have gone down considerably, due to increased competition. These market participants add liquidity to the marketplace because if an exchange’s price of [BTC] deviates from the global mean, market participants will arbitrage the price back in line with the global average,” explained Ervin.

He concludes that this factor, coupled with an expanding derivative, futures, and swap market, adds liquidity and makes it much more difficult for the price of a globally traded asset to be manipulated, adding:

We could make the case that an ETF holding a substantial amount of a micro-cap stock’s daily volume would have a higher impact on the price than a globally traded asset. 

Scandinavia Leads Market With Bitcoin ETNs

As the SEC continues to agonize over whether to approve a bitcoin ETF, it is worth taking a look at other crypto financial products such as Sweden’s bitcoin exchange-traded note (ETN). In May 2015, XBT Provider AB announced the authorization of Bitcoin Tracker One, the first bitcoin-based security available on a regulated exchange.

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETFLaurent Kssis, the CEO of XBT Provider, a Coinshares company, said that to put things in perspective, a so-called ‘physical’ bitcoin ETF simply asks for money upfront to buy the underlying asset physically.

“In this way, a bitcoin ETF provides quick exposure to the underlying asset, but this also means the market needs to be liquid enough to support any new demand for the underlying asset – in this case, bitcoin. There is a key operational question that regulators and investors alike need answered before approval of a bitcoin ETF,” explained Kssis. 

The good news is there are prior proxies in the market to study. Kssis said in his experience of operating the BTC and ETH trackers on Nasdaq Stockholm – notes which are hedged by buying the underlying asset (BTC 1:1) – he has so far been able to keep up with demand while maintaining an accurate price over the last three and a half years without any liquidity issues and being the sole liquidity provider.

“Put differently, even during the height of 2017, the underlying bitcoin market remained liquid enough to absorb new demand as we bought bitcoin to physically hedge the bitcoin trackers,” added Kssis. 

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETF
Nasdaq volume of all issuers on Dec. 7 2017.

According to XBT Provider, during 2017, when BTC traded at $ 20,000, the group was able to source ample liquidity. “My takeaway from 2017: even with substantial demand driving AUM well above $ 1 billion, the market demonstrated that delta-one security desks were able to source ample liquidity in the market to operate similar products to a proposed bitcoin 1:1 physical bitcoin ETF. A futures market will simply enhance that liquidity that is already available,” said Kssis. 

If Crypto Trading Picks up Expect More Launches

Fund Providers Insist There's Enough Market Liquidity for a Bitcoin ETFOther products available in the market include Greyscale Bitcoin Investment Trust (OTC:GBTC) which trades over the counter and the Amun Crypto Basket Index (SIX:HODL) which launched in November 2018 on Switzerland’s Zurich-based SIX Exchange. 

According to Lars Seier Christensen, chairman of Concordium and founder of Saxo Bank, if trading picks up we can expect more launchesHe said: “If the primary cryptocurrency exchange market continues to be in trouble, there will be little appetite for launching new trading vehicles. On the other hand, if trading picks back up, it is quite likely that we will see a slew of new initiatives being launched — perhaps even some that have already been planned and gone through due diligence but where the offering party have been waiting for a better time to launch.” 

Do you think the SEC will approve a bitcoin ETF in 2019? Let us know in the comments section below.


Images courtesy of Shutterstock and XBT Provider. 


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

The post Fund Providers Insist There’s Enough Market Liquidity for a Bitcoin ETF appeared first on Bitcoin News.

Bitcoin News

SoftBank Vision Fund shies away from WeWork. Alarm bells are ringing

January 9, 2019 |

The tech bubble’s financial backer of last resort, the $ 100-billion SoftBank Vision Fund, seems to be having second thoughts about its role as booster-in-chief of very expensive and very unprofitable start-ups. That’s healthy for the fund. But it must be troubling for the various companies and…


L.A. Times – Business

TMZ

The Mac Miller Circles Fund Has Raised $700k Since His Death

January 2, 2019 |

Mac Miller’s still making a difference — his charity foundation’s quickly approaching a million bucks in money raised to help kids in his hometown … TMZ has learned. Folks at The Mac Miller Circles Fund tell us … donations have been pouring in…

TMZ.com

Robinhood just launched a 3% checking and savings plan. It’s really just a dressed-up money market mutual fund

December 15, 2018 |

Robinhood Financial’s grand plan to disrupt the traditional bank account with a checking-and-savings offering isn’t quite as innovative as it might seem. It’s effectively a classic money market fund with a few additional bells and whistles.

The start-up, which got off the ground as a no-fee stock…


L.A. Times – Business

The Daily: Trustology Raises $8 million, SEC Fines Crypto Fund Coinalpha

December 9, 2018 |

The Daily: Trustology Raises $  8 million, SEC Fines Crypto Fund Coinalpha

U.K.-based startup Trustology, which develops storage solutions for digital assets, has raised $ 8 million in funding and we’ve got the news in this edition of The Daily. We also look at the SEC’s decision to fine another crypto company for breaching U.S. securities laws and HTC’s decision to have Brave as the default web browser on its Exodus 1 smartphone.  

Also read: Binance Offers Multiple Accounts, Huobi Plans Institutional Exchange

Crypto Security Startup Raises $ 8 million

The Daily: Trustology Raises $  8 million, SEC Fines Crypto Fund CoinalphaLondon-headquartered crypto startup Trustology has received $ 8 million in seed funding in a round led by Two Sigma Ventures, Reuters reported. The company develops a technology that helps investors enhance the security of their digital assets. According to CEO Alex Batlin, Trustology plans to use the capital to expand globally and provide support for more cryptocurrencies.

The product offered by the British company is designed to secure crypto assets. It provides investors with a simple solution to safeguard the private keys that give them access to their cryptocurrencies – hardware security modules. These are specialized processors that store passwords and digital keys.

Alex Batlin noted that Trustology’s product had been initially designed for banks but the startup is currently focusing more on crypto hedge funds and individual investors. He commented:

The original thinking was we would build the tech and sell to the banks. They are not moving as quickly as we are and we have quite a lot of demand from individuals, as well as crypto funds.

According to Matt Jacobus, a venture partner at Two Sigma, similar solutions are needed to develop a larger trading ecosystem around digital assets for institutional investors. Blockchain technology developer Consensys also participated in the funding round.

SEC Fines Cryptocurrency Fund Coinalpha

The Daily: Trustology Raises $  8 million, SEC Fines Crypto Fund CoinalphaThe U.S. Securities and Exchange Commission (SEC) has gone after another crypto company that, according to the regulator, sells securities without registration. The SEC, which has determined that Coinalpha does not qualify for an exemption, has fined the cryptocurrency fund manager and issued a cease and desist order on Dec. 7, 2018.

The California-based Coinalpha Advisors, registered as a Delaware limited liability company, had been operating two digital asset funds – Coinalpha Falcon and Coinalpha Index, Finance Magnates reported. According to an announcement by the commission, the owners of the company have agreed to pay a civil money penalty of $ 50,000.

Coinalpha also agreed to halt its offerings and pay back the fees it had collected from customers. The digital asset fund has already raised more than $ 600,000 from 22 investors in five states. The company has also promised to conduct a review of its online platform and marketing materials.

Although the regulatory status of cryptocurrencies in the United States is still unclear, the SEC has already fined and issued cease and desist orders to a number of crypto businesses after concluding that securities laws apply to the tokens they were issuing.

Brave Is the Default Browser on HTC Exodus 1

Privacy-oriented web browser Brave, which supports opt-in ads and cryptocurrency payments between users, has been announced as the default browser on the new HTC Exodus 1 phone, according to posts on crypto forums and social media. The application supports a crypto tipping system which relies on Brave’s basic attention token (BAT) and enjoys growing popularity in the crypto community.

The Daily: Trustology Raises $  8 million, SEC Fines Crypto Fund Coinalpha

HTC has made its new smartphone available for buyers willing to pay in cryptocurrency. The device, which has been advertised as a blockchain-powered phone, can be purchased with three major digital coins. It has been offered at fixed prices in bitcoin core, ethereum and litecoin – 0.15 BTC, 4.78 ETH, and 19.84 LTC (around $ 500 at the time of writing). However, a message on HTC’s website reads “This product is currently out of stock.”

The news comes days after the launch of another blockchain smartphone called Finney, which has been developed by Sirin Labs. The device has an integrated cold storage cryptocurrency wallet and can be purchased on the company’s website for $ 999.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock, Trustology, HTC.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Trustology Raises $ 8 million, SEC Fines Crypto Fund Coinalpha appeared first on Bitcoin News.

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Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500

December 7, 2018 |

Cryptocurrency asset manager Morgan Creek Digital is betting $ 1 million that its crypto fund will outperform the S&P 500, calling the challenge Buffett Bet 2.0 to mimic the billionaire investor’s famous bet. The wager is expected to be taken by “someone who is bullish on the S&P 500, or someone who thinks cryptocurrencies are worthless or overvalued.”

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Recreating Buffett’s Wager

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Morgan Creek Digital is recreating Warren Buffett’s famous $ 1 million wager. However, “unlike the famous value-investor, Morgan Creek is betting against the S&P and placing its faith in the 10-year performance of cryptocurrencies,” CNBC reported on Thursday.

Anthony Pompliano, Morgan Creek Digital’s co-founder and partner, was quoted as saying:

Whoever takes the other side will likely be someone with the same outlook as Buffett. It’ll be either someone who is bullish on the S&P 500, or someone who thinks cryptocurrencies are worthless or overvalued.

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Buffett took a $ 1 million bet using his own money against asset manager Protégé Partners in 2007. He wagered that a passive investment in the S&P 500 would outperform a sample of five actively managed hedge funds picked by Protégé Partners. “Buffett won that bet in 2017, with the S&P returning about 7 percent compounded annually versus a 2.2 percent from the hedge funds,” the publication wrote.

Calling the challenge “Buffett Bet 2.0,” Morgan Creek Digital is inviting anyone who believes that the S&P 500 will outperform its index fund over a decade to take the other side of the bet, the news outlet detailed. The company’s $ 1 million will be funded by its partners. Pompliano said the intention is for the winner to donate the proceeds to charity.

Crypto Fund vs. S&P 500

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Morgan Creek is betting that its Digital Asset Index Fund will outperform the S&P 500 over a 10-year period starting Jan. 1, CNBC described. The fund, available to accredited U.S.-based investors, requires a minimum investment of $ 50,000, carries a management fee of 2 percent, and can be redeemed monthly with 15 days’ notice. Its custodian is Kingdom Trust.

Pompliano explained that this index fund was structured to give similar exposure to the S&P 500, but with cryptocurrencies. It was launched in partnership with Bitwise Asset Management. Bitwise also manages three other crypto funds, two of which were launched on Wednesday.

The Digital Asset Index Fund tracks the Morgan Creek Bitwise Digital Asset Index. Its 10 constituents as of Aug. 27 are BTC (77.5%), ETH (11.1%), BCH (2.4%), LTC (2.3%), EOS (2.2%), ZEC (1.0%), XMR (1.0%), DASH (0.9%), IOTA (0.7%), and NEM (0.7%).

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500

Pompliano was further quoted by Bloomberg as saying:

Bitcoin and crypto assets have been the best-performing asset for the last 10 years … They have beat the S&P 500, and we believe they will continue to do so for the next 10 years.

What do you think of Morgan Creek Digital’s bet? Do you think crypto will outperform the S&P 500? Let us know in the comments section below.


Images courtesy of Shutterstock and Morgan Creek Digital.


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

The post Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500 appeared first on Bitcoin News.

Bitcoin News

Bitwise Launches Bitcoin Fund, Driven by Client Interest

December 6, 2018 |

Bitwise Launches Bitcoin Fund, Driven by Client Interest

Bitwise Asset Management has launched two new cryptocurrency funds, one of which only invests in BTC. The launch “is driven by inbound client interest and investor dissatisfaction with existing options,” the company says. The market downturn has also given investors “a unique opportunity to enter the market at prices many thought we’d never see again.”

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Two New Funds

Bitwise Launches Bitcoin Fund Driven by Client InterestBitwise Asset Management announced on Wednesday that it has launched two new funds: the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund. The former only holds BTC and the latter only ETH, in addition to “any meaningful hard forks and air drops,” the company states. According to the announcement:

The launch of the funds is driven by inbound client interest and investor dissatisfaction with existing options, many of which carry premiums, charge exit fees, have lockups, and/or charge expenses to the fund outside the stated management fee.

Bitwise Launches Bitcoin Fund Driven by Client InterestThe company explained that 100 percent of the funds are held in cold storage. Kingdom Trust is the custodian of both funds. Contributions to the bitcoin fund can only be done by “U.S. bank wires and BTC,” Bitwise’s website shows.

Starting on Wednesday, two share classes are available for both funds. The first, aimed at institutional investors, has “an all-in expense ratio of 1.0% and a minimum investment of $ 1 million,” the company described. The other has “an all-in expense ratio of 1.5% and a minimum investment of $ 25,000.” Subscriptions and redemptions are accepted every Wednesday, “with no lockups, withdrawal fees, or performance fees,” the announcement details.

Existing Index Funds

Current constituents of Bitwise 10 Index.

The two funds launched on Wednesday are the company’s second and third strategies, the announcement clarifies, adding that the first is “the broad-market Bitwise 10 Private Index Fund.” This fund tracks the cryptocurrencies in the Bitwise 10 Index, “which is a basket of the largest coins, weighted by 5-year diluted market capitalization and rebalanced monthly,” its website describes. The constituents of this index are currently BTC, XRP, ETH, XLM, BCH, EOS, LTC, ZEC, XMR, and DASH.

In addition to the Bitwise 10 Index, the company has three other indices: the 20 mid cap, the 70 small cap, and the 100 total market.

Furthermore, the company has partnered with Morgan Creek Capital Management to offer investors another index fund called Digital Asset Index Fund. According to its website, this fund “tracks the Morgan Creek Bitwise Digital Asset Index.” Its current constituents are BTC, ETH, BCH, EOS, LTC, ZEC, XMR, DASH, IOTA, and NEM.

Bitwise Launches Bitcoin Fund Driven by Client Interest
Current constituents of Digital Asset Index Fund.

Clients Are Interested

Bitwise CEO Hunter Horsley commented:

The 68% drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at prices many thought we’d never see again.

He added that, while “an ETF [exchange-traded-fund] has not yet been approved, investors and advisors like the fund format because it’s professionally managed and simplifies access to best-in-class custody, trading, reporting, and tax preparation, and allows for the safe capture of events like hard forks and airdrops.”

The company’s global head of research elaborated:

Our clients have been adding to their positions throughout the downturn, and many who’ve been following the space for a while are using this opportunity to finally come in.

What do you think of Bitwise’s various crypto funds? Let us know in the comments section below.


Images courtesy of Shutterstock, Morgan Creek Capital Management, and Bitwise Asset Management.


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

The post Bitwise Launches Bitcoin Fund, Driven by Client Interest appeared first on Bitcoin News.

Bitcoin News

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund

December 2, 2018 |

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund

In this edition of the Daily, we cover Bitmain’s new cryptocurrency index and the establishment of a fund that will invest in bitcoin mining. We also look at a recently active online account that was previously associated with Satoshi Nakamoto, as well as the launch of a help center for defrauded crypto enthusiasts in Russia.

Also read: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results

BLC10 Tracks Major Cryptocurrencies

Chinese crypto mining giant Bitmain has launched its own cryptocurrency index. It tracks the performance of the largest and most liquid digital coins on the market and is denominated in U.S. dollars. The index is designed to meet the needs of both private and institutional investors, according to the Beijing-based company.

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund

The index page lists individual indices for 17 leading cryptocurrencies with their real-time spot prices in USD and BTC, updated by the second. A reference price is published once a day, at 10:00 a.m. Hong Kong time. Bitmain uses data from major exchanges such as Bitfinex, Binance, Bitstamp, Bittrex, Gdax, Gemini, Huobi, Itbit, Kraken, Okex and Poloniex.

The aggregated Bitmain Large Cap 10 Index (BLC10) tracks the top 10 cryptocurrencies by market capitalization. The index is evaluated monthly to ensure its methodology and scope are up to date and representative.

Xolaris Launches Investment Fund for Mining Projects

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining FundGerman investment management company Xolaris has launched a private equity fund dedicated to bitcoin mining. It will invest in building infrastructure and acquire new hardware for different projects. The fund will also finance the expansion of an existing mining facility in Sweden.

According to Xolaris, there’s continued demand from clients who want to participate in the mining industry, despite the recent downward trend in the cryptocurrency markets. They are welcome to support the fund with a minimum investment of €250,000 (~$ 283,000). The company hopes to raise between €30 million (~$ 34 million) and €50 million (~$ 56 million) for its four-year project. The expected rate of return is around 165 percent.

The first investment opportunity has been identified already — a bitcoin farm with approximately 2,000 miners in Sweden. Its capacity will be expanded with capital accumulated in the Xolaris fund. The Konstanz-based group is planning to launch a similar fund also in Hong Kong.

Satoshi’s Account Posts a Single Word: ‘Nour’

An account on the P2P Foundation network, once associated with Satoshi Nakamoto, has posted a one-word message after four years of inactivity. The status, simply reading “nour,” appeared on Thursday, Nov. 29, and has since sparked speculation in the crypto community about its meaning and authenticity. The account is linked to an old email address used by Nakamoto, satoshin@gmx.com, which was reportedly hacked in late 2014.

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund

According to one of the most discussed theories in the space, “nour” is the English transliteration of several similar words in Semitic languages, the meaning of which has the same root — “light.” In Arabic, “sabah el nour,” or “morning full of light,” is a common reply to “sabah el khair,” which means “good morning!” In modern Hebrew, “nour” means “flare,” and in Aramaic, “fire.”

The long-dormant Satoshi account has also befriended another user, Wagner Tamanaha. According to his profile, Tamanaha is based in Brazil, and his picture and family name suggest he is of Japanese descent. The user, who is reportedly a member of the Brazilian crypto community, left a message for Nakamoto on Friday. The text is in Japanese and according to Google Translate it reads: “Nice to meet you. Thank you very much, I will do my best for Bitcoins from Brazil!”

Russian Crypto Association to Help Fraud Victims

The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining FundThe Russian Association of Cryptoindustry and Blockchain (RACIB) has launched a help center to support crypto enthusiasts who have been defrauded by scammers or unscrupulous companies. The organization also plans to actively cooperate with Russian law enforcement agencies and Interpol in the investigation of such cases, Bitnovosti reported.

According to recently released data, the number of cyber crimes related to digital assets increased by 32 percent in Russia in the first quarter of 2018. RACIB’s project, the First Private Cryptocurrency Investigation Agency, will provide an array of services to cryptocurrency investors, including assistance in searching for stolen funds and assessing new investment opportunities in the crypto space.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock, HTP.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund appeared first on Bitcoin News.

Bitcoin News

Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund Grows

November 27, 2018 |

In recent crypto exchange news, Coincheck has successfully reinstated deposits and trading services for all cryptocurrencies that were live on the exchange before it was hacked in January. Bhex, an exchange founded by Huobi’s former chief technology officer, has announced that it will start operations at the end of the month, while 1,452.6 BTC was recently added to the Bitmex Insurance Fund in a single day.

Also Read: Russian Miners Sell Their Equipment Amid Market Plunge

Coincheck Resumes All Pre-Hack Trading

Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund GrowsCoincheck has reinstated deposits and purchases for XRP and FCT. As such, it has now resumed services for all cryptocurrencies that were live at the time of the NEM hack in January, when roughly $ 530 million of funds were taken from the exchange.

Coincheck has now reinstated most of its services, including new account signups, yen deposits and withdrawals, cryptocurrency deposits and trade, and its lending service. Still, it still has yet to reinstate yen deposits through convenience stores, as well as its Coincheck Payment platform and leveraged transactions for new positions.

A press release issued by the company states that it has been “working to improve its management structure and internal control” since the hack.

1,452.6 BTC Added to Bitmex Insurance Fund in 1 Day

Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund GrowsThe Bitmex Insurance Fund now holds 18,851 BTC, following the addition of 1,452,6 BTC on Nov. 25. The significant increase pushed the amount of BTC held by the fund from 16,713.4 up to 18,166.

According to Bitmex, the insurance fund is used to avoid auto-deleveraging traders’ positions. It “grows from liquidations that were able to be executed in the market at a price better than the bankruptcy price of that particular position.”

The significant increase in the fund’s holdings was noted on Twitter. “Bull case for #Bitcoin: Soon most $ BTC will be locked up in the @BitMEXdotcom insurance fund,” WhalePanda tweeted. At the time of writing, the fund’s BTC holdings had increased by 685 since Nov. 25.

Former Huobi CTO to Launch Bhex Exchange

Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund GrowsBhex, an exchange founded by former Huobi Chief Technology Officer James Ju, has announced that it will launch operations at the end of his month. The exchange claims to have raised $ 15 million in equity financing, with Huobi, Genesis Capital and Okex among its investors.

A press release issued by the exchange asserts that Bhex’s founding members hail from a number of major technology and finance companies, including Google, Alibaba, Tencent, Baidu and Barclays Capital. Bhex has established offices in Singapore, the U.S. and the U.K.

Are you concerned about the Bitmex Insurance Fund’s BTC holdings? Share your thoughts in the comments section below.


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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