Blockchain Training Institute: Although there are dozen bitcoin ETF proposals that are marked down by the US Securities and Exchange Commission(SEC), this young firm is in high hopes that SEC would give a green signal.
Wilshire Phoenix is a New York-based company in association with the NYSE Arca has filed a United States Bitcoin & Treasury Investment Trust ETF. This firm will invest both bitcoin and U.S. Treasury securities, which is referred to as T-bills.
"Our proposed bitcoin-related ETF is quite different from those that have previously been submitted to the Commission for approval. To name just a few distinctions, the composition of the Trust is very different. Our Trust is a multi-asset trust (bitcoin and T-Bills), as opposed to just bitcoin,” quoted William Herrmann, founder and managing partner, Wilshire Phoenix.
However, SEC has rejected multiple proposals considering the firm's age, the risk to investors and exposure to digital assets. Few of the firms have withdrawn the filing proactively.
Herrmann also stated that "the CME’s Bitcoin Reference Rate will provide the data for bitcoin’s price in the Trust, rather than use an in-house price method “or one from any related party.”
A few concerns related to SEC will also be addressed by the Wilshire Phoenix. This is done by a surveillance sharing document. With regard to this, he added, "The CME has surveillance sharing agreements with both the CME futures market as well as the relevant portion of the spot market that forms the basis for the Trust’s bitcoin values. This addresses the SEC concerns about the lack of surveillance sharing agreements with the relevant spot market, which is something previous applicants have not been able to address.”
SEC began accepting comments on the firm's proposal in late June. Recently, the agency started accepting comments on the proposal through Nov. 12, 2019.
Herrmann is being positive about the ETF proposal’s chances, saying “we developed the ETF consistent with investor protection as well as fair, orderly and efficient markets.”
Blockchain Training Institute: Bitcoin mining giant Bitmain’s co-founder Micree Zhan, says he is going take legal action to make his return to Bitmain.
However, he was removed from the company a week ago.
Jihan Wu, co-founder of Bitmain addressed his staff and conveyed a message saying that Micree Zhan was dismissed from all roles.
Also, he added that employees are prohibited from engaging with him.There was a struggle between the two to have powers which ended in the removal of Micree Zhan.
Zhan remained silent until Wednesday by not address any media questions.
Later on Wednesday, he posted on his WeChat saying he did not have prior information about the removal from roles and he would take legal actions to get back to the firm.“I have never thought that as a person focusing on technology and product, I have to start thinking from legal perspectives.
History KuCoin exchange was founded back in 2013 by Michael Gan and Eric Don and is based in Seychelles.
Supported Cryptocurrencies Bitcoin (BTC),Ethereum (ETH)Litecoin (LTC)Tron (TRX)Tether (USDT)NEO (NEO)Ripple (XRP)KuCoin Shares (KCS) KuCoin exchange keeps extending its number of digital assets for its users.
Traders can buy crypto with fiat money such as EUR, CNY, GBP, CAD, AUD, and the list will go on.
FeaturesKuCoin P2P Fiat Trade: A platform that offers traders digital assets and legal tender transaction servicesKuCoin Instant Exchange: A crypto-to-crypto exchange service.
Therefore, traders can swop their cryptos without chargesKuCoin Fast Buy: Allows traders to instantly purchase cryptocurrencies using fiet money such as Chinese Yuan (CNY), Indonesian Rupiah (IDR), and Vietnamese Dong (VND)KuCoin Shares: The native cryptocurrency for KuCoin Exchange P2P Marketplace KuCoin exchange's P2P marketplace is one of the top services provided by the platform.
Payment methods like PayPal and wire transfers are also supported on the platform.
BitcoinBitcoin is the cryptocurrency that started it all.Although Satoshi Nakamoto described Bitcoin as a P2P currency system, today the narrative is a little different.The narrative has now changed, and people refer to Bitcoin as “Digital Gold.”Not surprisingly, many institutional investors have started buying into Bitcoin, making the supply scarce for the common investor.Bitcoin, The Store of ValueBitcoin is no longer a currency to it’s advocates, but rather a store of value like gold.Practically speaking, newer wallets with one whole Bitcoin are disappearing by the hour.This limited availability and mass adoption of Bitcoin, combined with huge cash flow from institutional investors has pumped prices skyhigh.Experts have predicted that Bitcoin could hit a whopping $200,000 by the time this bull run ends (Est.
September 2021).EthereumEthereum wasn’t supposed to be a currency system like Bitcoin.However, it is outperforming Bitcoin, and fast outgrowing its status as an Altcoin.Ethereum is essentially a smart contract platform, an ecosystem to build blockchain projects on.This solid use case, combined with the deflationary system that it follows for Ether (ETH), and popularity, has also caught the eyes of big investors.Ethereum — The OpportunityEthereum has outperformed Bitcoin in this bull run and is gearing up to move past it’s all time high.Experts have predicted that the price of Ether (ETH) could hit a tune of $10,000 by the time this bull run ends.This makes Ethereum the best opportunity for people looking to make big gains, as Bitcoin becomes the more expensive option.So, what happens after the Bull Market?After any Bull market, there will be a Bear market.This means that the prices could fall upto 90% after the market reaches its peak.So, it’s better to always take profits as you ride the wave and not wait till the top of the hill.
What on earth is Ethereum?
I mean, I keep hearing about it all the time, I’ve seen it’s the second-largest cryptocurrency around but I just can’t seem to wrap my head around it.
Is it as revolutionary as Bitcoin?
Can it actually change the world as we know it?
Like many other cryptocurrencies, Ethereum is also decentralized and can perform value exchanges and smart contract transactions without any interference from a third party.
It is completely autonomous and non-regulated by any centralized entity.
The Ethereum system is supported by a global system of Nodes.
These consensus rules are guided and dictated by smart contracts- a set of computer protocols and algorithms that control the verification and execution of a contract.
With these rules in place, one can perform multiple transactions via the ethereum blockchain network without necessarily trusting the other party.
Smart contracts ensure that the pre-defined rules of engagement are satisfied before the successful completion of the transaction.
