trading

Jan
25

Australian crypto exchange plans legal action against NAB for account closures

Oddities are afoot between myCryptoWallet and NAB. “Due to National Australia Bank (NAB) closing our bank account without notice, we are sorry to inform you that all withdrawals are currently disabled until further notice. This does not affect deposits as we have opened a separate bank account to handle any future deposits,” myCryptoWallet explained in an email to its users sent a few days ago. “NAB has made absolutely no attempt to give us any reason or justification for why they have closed our business bank account. They carried out this action without notice or notification, and upon asking for an explanation, they have simply told us that they will […]

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Jan
23

Faster, cheaper: blockchain breeds competition

Blockchain technology has the potential to provide superior post-trade infrastructure to investors. Fund managers will soon be enjoying faster and cheaper transactions than what monopoly incumbents such as the ASX offer, thanks to competition, a tech company boss predicts. The post-trade world is “very, very expensive relative to the work that is performed”, says Peter Randall, president of technology company SETL. SETL has built institutional payment and settlements infrastructure based on blockchain technology, which could emerge as competition to a blockchain-based platform the ASX is now developing to replace its legacy Clearing House Electronic Subregister System (CHESS) infrastructure. Randall will speak at Investment Magazine’s upcoming Investment Operations Conference, to be […]

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Jan
21

Afterpay buy now pay later rival Zip favoured by investor Philip King of Regal

Shares in Afterpay Touch have doubled in the past 12 months as Millennials lap up its buy now, pay later solution to spending and now some investors are hoping its major rival, Westpac-backed payment provider Zip Co, can follow that lead. Regal Funds Management chief investment officer Philip King describes Zip as a “high-growth company that is in the sweet spot of moving from start-up losses to very high earnings growth”. Regal holds 6.4 per cent of Zip’s shares, which makes it the third largest shareholder after the company’s co-founder and chief executive Larry Diamond and Westpac. The renowned fund manager used to own Afterpay, but now prefers Zip on […]

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Jan
15

More investors taking on smart beta ETFs

Research from VanEck reveals that investors are increasing their allocation towards smart beta ETFs, as opposed to market capitalisation and active strategies. Smart beta cumulative net flows as a percentage of total flows has grown from 11.7 per cent to 21.7 per cent between 2016 and 2018, according to VanEck’s ETF IQ Scorecard for December 2018. “By strategy, smart beta ETFs are gaining in popularity, now accounting for about one-quarter of all inflows at $1.6 billion over the year to date, as investors seek targeted investment outcomes and wealth-building strategies not offered by traditional ETFs, which track market capitalisation indices,” VanEck said. Meanwhile, net flow allocation to active exchange-traded products […]

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Jan
14

Long-dormant Bitcoin whales resuming activity could rock price action, analysts say

The number of active Bitcoin (BTC) wallets, many of which have long been dormant, has seen an uptick that could herald some major market movements, Bloomberg reports Jan. 11. Bloomberg bases its report on data and analysis from crypto analytics startup Flipside Crypto, which sealed the backing of major crypto exchange Coinbase and veteran crypto venture capital firm Digital Currency Group (DCG) back in November. According to Flipside, as of Oct. 2018, a high number of long-inactive Bitcoin holders — defined as those that haven’t transferred their Bitcoin for between six and thirty months — have begun to transfer their coins, resulting in wallets active over the past month now […]

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Jan
09

Ten years of bitcoin is about more than boom, bubble and bust

This weekend will mark the 10th anniversary of the very first transaction involving bitcoin. A decade later the future of bitcoins and the host of the so-called cryptocurrencies that it spawned is still uncertain. On 12 January 2009, someone who called themselves Satoshi Nakamoto sent 10 bitcoins to a US software engineer, Hal Finney (they may, some believe, have been one and the same). The coins were virtually worthless and it took more than two years before the first exchange of bitcoins for goods – 10,000 bitcoin for two pizzas worth about $US30 ($42) – occurred. For most of their history cryptocurrencies have been a curiosity, a peer-to-peer anti-establishment version […]

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GoldFund.io announces first public cryptocurrency exchange to list the GFUN Token

GoldFund.io a commodity platform for Cryptocurrency and Gold today announces the first listing on a Cryptocurrency Exchange following its ICO ending on 31 January, 2019. p2pb2b.io is a Swiss based Cryptocurrency Exchange supporting major currency pairs with a total of 47 trading currencies. The primary features of the p2pb2b platform are: New Accounts: Newly created accounts have a 0 USD (or equivalent) withdrawal limit. Basic Accounts: Basic accounts can currently withdrawal 500 USD (or equivalent) per 24h. Enhanced Accounts: USD$100,000 (or equivalent) per day with two-factor enabled. Verification required. Multi-Language Support Support 24/7. English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, German, Korean The main distinguishing feature of p2pb2b is support […]

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Dec
20

Where is the cryptocurrency industry headed in 2019?

To get a sense of just how troubling 2018 has been for the cryptocurrency industry, one need look no further than bitcoin (BTC). Heading into 2018, bitcoin traded for close to $13,500 after reaching an all-time high of $19,783.06 in December of 2017. At the time of writing, bitcoin is selling at $3,400, a loss of about three-quarters of its value — and other digital currencies aren’t faring much better. Ethereum, for example, fell from an early-year high of $1,300 to $91 as of Dec. 17, 2018. But cryptocurrencies like bitcoin and ethereum are hurting on more fronts than value alone. Investor interest in digital currencies has waned dramatically in […]

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