1. Two new instruments appeared on the Bitfinex crypto exchange with tickers BTCF0 / USDt0 and ETHF0 / USDt0 after another update.
They are leverage derivatives up to 100x, similar to those, which are offered by BitMEX. Bitfinex representatives noted that the instruments would be used mainly for hedging risks.
2. The cryptocurrency community has been waiting for more than a year for the launch of new tools for institutional investors – Bitcoin ETF, but the SEC is constantly postponing applications.
VanEck and SolidX decided to take a different way and launch a limited version of their ETF, thus circumventing regulatory barriers.
Companies will take advantage of rule exception of the SEC, which allows VanEck SolidX Bitcoin Trust shares to be offered to institutions such as hedge funds and banks, but not to retail investors.
Lawyer Jake Chervinsky immediately commented on the news. He believes that this is only a marketing move that has no foundation.
«This is disinformation. VanEck SolidX Bitcoin Trust is not an ETF. According to its characteristics, it fully copies the Grayscal Bitcoin Trust, which has been on the market for almost 6 years. They took the old idea and called it «limited ETF» he says.
Chervinsky also added that there is no such term as «limited ETF».
3. Tether plans to launch a stablecoin, which would be provided with a basket of goods, including oil, gold and rubber. The company is worried that too much money, which are designed for providing USDT, is held by banks.
This was announced by Zhao Dong, the shareholder of the Bitfinex exchange affiliated with Tether. He also added that all issued USDT are secured by fiat currencies.
«Tether is secured by reserves. Of the 4 billion tokens currently existing, approximately $ 3.35 billion are in securities, and $ 650 million is provided by Bitfinex» Dong said.
Interestingly, for a billionaire, fiat currency and securities are the same.
4. Bitcoin.com launches its own cryptocurrency exchange.
Exchange.Bitcoin.com will support markets, which are denominated in base cryptocurrencies. According to Danish Chaudry, managing director of Bitcoin.com, the platform will compete with high-end platforms such as Coinbase and Binance.
The exchange will attract customers by distributing various bonuses.
5. On Monday, Binance acquired the JEX trading platform, where traders have the opportunity to trade in the spot and derivative markets.
«JEX will be a part of the Binance ecosystem. The company will continue to engage in the development of the cryptocurrency derivatives market. Binance users will be able to get professional services on Binance JEX, such as futures contracts, options and other derivatives» it is said on the Binance website.
According to the terms of the deal, the entire JEX team will become part of Binance. In addition, the exchange will receive all tokens owned by JEX.
6. Binance has announced the launch of the second phase of the Binance Lending program. Now users can invest Bitcoins, Ethereum and Cardano.
They changed the terms of deposits and interest payments. The current situation is as follows:
7. Bitcoin has risen rapidly to $ 10,800. Crypto analysts couldn`t leave this event unattended.
Luke Martin, who previously predicted a resumption of growth, expects to see a bullish trend throughout the week.
«As long as the price is above $ 9,800 – 9,900, it is better to hold long positions».
Josh Rager also took the side of the bulls due to the growth of the Bitcoin dominance index, which is currently above 70%.
Mr. Anderson noted that the bulls have not yet taken a dominant position in the market, however, the situation for them has been substantially facilitated.
«Being below $ 9,800 becomes frightening for the bulls, but above this mark is normal, and above $ 10,600 becomes frightening for the bears».
Peter Brandt noted that Bitcoin could well enter the fourth bullish cycle of parabolic growth, which will lead quotes to new heights.
Arthur Hayes, CEO of BitMEX, believes that Bitcoin «dancing in the style of two-step goes for $ 20,000».
8. On Friday, the first cryptocurrency hash broke its another record, rising above 84 quintillion hashes per second.
9. PwC and Burger King will accept Bitcoins in their regional offices soon.
PwC wrote that it took this step because of increased customer demand.
Now Burger King has the opportunity to pay for orders with Bitcoins in the delivery application, but in the restaurants themselves the source doesn`t say anything about this function.
The large Brazilian payment company Cielo also added the ability to pay with Bitcoins in its payment terminals, of which more than 1.4 million.
For using the service, customers will need to create an account on the site of one of the company’s partners, then scan the QR code in the payment terminal by using a special application.
10. Coinbase is likely to be forced to transfer all European accounts from the UK to another jurisdiction.
Currently, the exchange manages the electronic payment system in the UK through CB Payments. Authorization has been obtained from the UK Financial Services Authority (FCA), which operates throughout the EU. However, if after Brexit there is no agreement on the withdrawal of funds, then it is likely that the exchange will have to transfer the activities of CB Payment Ltd to another jurisdiction.