Cryptocurrency 

Investors Consider Cutting Ties with Facebook’s Libra Amid Regulatory Scrutiny

At least three investors in Facebook’s Libra cryptocurrency are considering disassociating with the currency following intense regulatory pushback. According to a report published in the Financial Times on Friday, some backers are fearful that the spotlight placed on the social media giant’s proposed cryptocurrency will also bring their own separate, independent businesses into disrepute. Two founding partners have allegedly held discussions with regard to what the “right next steps” should be for their investment. “I think it’s going to be difficult for partners who want to be seen as in compliance [with their…

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Bitcoin 

Bitcoin Will Be In Every Institutional Investor’s Portfolio

American investor and Morgan Creek Digital Assets co-founder Anthony Pompliano says that Bitcoin will end up in every institutional investor’s portfolio. In an interview with CNBC on Aug. 20, Pompliano said that every single week more infrastructure is being built around Bitcoin (BTC) and the crypto markets more broadly. “We’re at a tipping point” In making the case for Bitcoin’s bullish prospects, Pompliano highlighted recent developments, such as the coin’s serial record-breaking hash rate this summer, which points to continual improvements in the network’s security and support. He also took…

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Cryptocurrency 

Secondary Market for Telegram Tokens Sees 400% Return for Investors

Telegram’s eagerly awaited blockchain, Telegram Open Network (TON), is set to be launched on October 31. However, the yet-to-be issued tokens are already trading on an unauthorized secondary market. Purchase Agreement Does Not Allow For Resale Investors are already seeing returns as high as 400% on Telegram tokens, known as grams; however, secondary buyers run the risk of their investment being worthless, as a clause in the initial offering of grams prevents their resale in any way before the launch of TON. The company is also running on a deadline,…

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Cryptocurrency 

The IRS has Words for Crypto Investors… Again: Tax Warnings

The cryptocurrency industry may still be going strong, but that doesn’t mean it hasn’t had its share of problems. Nor does it mean everyone is a fan of virtual currencies. The IRS certainly isn’t, and crypto investors have learned that the hard way the past two months. Here’s what we know. IRS has Words for Crypto Investors At the start of last month, the IRS began mailing more than 10,000 crypto investors informing (well, it was more of a warning) that they may owe taxes on various cryptocurrency transactions. This…

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Blockchain 

Industry Investors Shift Focus From Crypto to Convergence Apps: Report

The year of 2019 has witnessed a shift in investments from focusing purely on digital currency to convergence applications, according to a new report from Outlier Ventures published on Aug. 13. Early stage investors shift focus The “Investment in Blockchains 2019” report, which provides insight into blockchain investment and market trends in 2019, states that blockchain-focused companies have secured $23.7 billion since 2013. Increased interest among early stage investors ostensibly results from massive returns from early investments in Bitcoin (BTC) and Ether (ETH). Per the study, there has been a…

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Blockchain 

tZERO to Offer Public Trading Starting Aug. 12, Expects Up To 50,000 Investors

Retail giant Overstock’s blockchain subsidiary company, tZERO, plans to allow the public to trade its security tokens in four days. Saum Noursalehi, CEO of tZERO, shared the announcement with CoinDesk, per a report published on Aug. 8. According to the announcement, Aug. 12 marks the end of a one year lock period following the company’s 2018 token offering. Noursalehi additionally commented that the company is expecting as many as 50,000 new investors, who have already bought Overstock shares, to begin trading their digital security tokens. Despite not seeing a large…

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Bitcoin 

3 Reasons Bitcoin Is Turning Into a Global Safe Haven for Investors

China’s recent currency devaluation seems in line with similar policies taking place across the globe. Let’s take a look why Bitcoin price is rising as a result and why investors are increasingly considering taking shelter in Bitcoin — a neutral and borderless network for storing and transferring value — alongside traditional safe haven assets. Every fiat currency is devaluing itself on purpose  As the U.S. and other countries attempt to bolster economic growth through rate cuts, investors are beginning to flock to gold, cash, government bonds and increasingly Bitcoin as…

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Bitcoin 

Israeli BTC Investors Can’t Pay Taxes as Banks Refuse Deposit

Israeli Bitcoin (BTC) investors are unable to pay their taxes as banks do not accept deposits obtained from cryptocurrencies. Israeli banks freeze up the minute they hear “Bitcoin” Israeli newspaper Haaretz reports on Aug. 6 that local crypto investors are unable to deposit the returns of their Bitcoin investments into bank accounts due to money laundering and terrorist financing concerns. Bitcoin is not recognized as a currency in Israel and earnings made by trading them are subject to a 25% capital gains tax for individuals and a 47% corporate tax…

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Bitcoin 

Kraken Exchange Acquires Service Provider for Institutional Investors

Cryptocurrency exchange Kraken has acquired Interchange, an accounting and portfolio reconciliation service provider for institutional cryptocurrency investors. A press release published on July 31 outlines that the acquisition supports Kraken’s creation of an end-to-end crypto trading and reconciliation platform.  An arsenal of tools for institutional clients As the release outlines, Interchange’s co-founders and crypto veterans Dan Held and Clark Moody have evolved Interchange to serve cryptocurrency hedge funds, asset managers and fund administrators, providing them with specialized tools to monitor and report their crypto holdings and optimize their portfolios. The…

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Blockchain 

Facebook Warns Investors That Libra Stablecoin May Never Launch

Facebook has warned its investors that its Libra stablecoin may never be released, CNBC reports on July 29. Engaging with regulator “critical to Libra’s success” Facebook told its investors in its latest quarterly report that — while the firm expects to launch Libra next year — some factors could prevent its release. Iin the risk factors section of the document, the company admits that it recognizes the significance of the pushback shown by regulators towards Libra.  CNBC also reported that a Facebook spokesperson told the outlet on Monday that: “Engaging…

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