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BitMax.io (BTMX.io) News Digest 20190909

Major Headlines

1. Digital gold mantra revived after bitcoin tops technical hurdle

2. Bitcoin futures on ICE grow nearer with custody warehouse start

3. Record bitcoin-yuan divergence suggests new trade-war fallout

4. Novogratz’s galaxy digital plans push into crypto underwriting

5. Netki Retools Digital ID Service for FATF’s New Crypto ‘Travel Rule’

6. Catalonia to Build DLT-Based Identity Platform for Citizens

7. Bitmain Ramps Up Power and Efficiency With New Bitcoin Mining Machine

8. Crypto and the Latency Arms Race: Towards Speed Bumps and OTC Trading

Takeaway

1. Digital gold mantra revived after bitcoin tops technical hurdle

(Citation is taken from Bloomberg)

· Bitcoin crossed over the $10,000 key technical level which could indicate further gains ahead.

· A decisive break above the 50-day moving average is thought to be a bullish signal.

· Intelligence analyst claims Bitcoin to mature into a digital store-of-value akin to gold.

2. Bitcoin futures on ICE grow nearer with custody warehouse start

(Citation is taken from Bloomberg)

· Exchange will offer two Bitcoin futures beginning Sept.23.

· The early opening of the warehouse is meant to familiarize customers with the trading process prior to Sept. 23.

· ICE hopes the futures will create price discovery for Bitcoin apart from any cash market influence.

3. Record bitcoin-yuan divergence suggests new trade-war fallout

(Citation is taken from Bloomberg)

· Bitcoin continues to move in an opposite direction to yuan as statistics shows inverse correlation reaches record as China’s currency weakens

· Research results may support speculations on the China effect centering on factors that are weakening the yuan

· Inverse correlation appears more evident as tensions ratcheted up on U.S.-China trade relations

4. Novogratz’s galaxy digital plans push into crypto underwriting

(Citation is taken from Bloomberg)

· The Financial industry regulatory authority approves request to underwrite registered public offerings of securities last week

· Galaxy Digital Holdings is looking at shepherding security token offerings

· The company also plans to issue tokens that could connect to or represent ownership of many valuable objects and revenue streams

5. Netki Retools Digital ID Service for FATF’s New Crypto ‘Travel Rule’

(Citation is taken from Coindesk)

· Netki has upgraded its digital identity service to help cryptocurrency firms meet tough new international standards for combating money laundering.

· The upgrade to TransactID adds two new features: The ability to break down certificates of a user’s identity into smaller pieces of personally identifiable information (PII); and the ability for senders and receivers of money to request PII from each other.

· TransactID uses open-source standards that encrypt peer-to-peer exchange of identity information between parties before transacting.

6. Catalonia to Build DLT-Based Identity Platform for Citizens

(Citation is taken from Coindesk)

· The government of Catalonia has announced it will develop a decentralized identity platform aimed to give citizens control of their own data when interacting with online services.

· the IdentiCAT project was announced today by Jordi Puigneró, minister of Digital Policy and Public Administration, as part of the ministry’s primary objectives, to “qualify and digitally empower Catalan citizens so they may carry out activities with full assurance and security in the digital society of the 21st century.”

· It also comes as part of the autonomous region of Spain’s blockchain policy announced in June to boost use of the tech within “public authorities and society.”

7. Bitmain Ramps Up Power and Efficiency With New Bitcoin Mining Machine

(Citation is taken from Coindesk)

· Crypto mining giant Bitmain is launching two new models for its Antminer range of bitcoin mining devices, one of which is its most powerful yet.

· Announced Friday, the Antminer S17e has a hash rate (mining power) of 64 terahertz per second and a power efficiency of 45 joules per TH.

· The second new Antminer, the more budget-friendly T17e, provides a hash rate of 53 TH/s and power efficiency of 55 J/TH.

8. Crypto and the Latency Arms Race: Towards Speed Bumps and OTC Trading

(Citation is taken from Coindesk)

· Starting in the mid 1990s, innovative firms such as GETCO revolutionised the US equity market by automating the process of market making, traditionally the remit of humans on the floor of the New York Stock Exchange.

· The ethos of crypto is that anyone can participate, big or small. The ability for anyone to devise a trading strategy, connect to an exchange and give it a go is up there in the industry’s psyche with the motto “Be your own bank.” However, just as it happened to mining, trading professionally is rapidly becoming the preserve of the biggest firms.

· Today, most crypto exchanges are essentially websites. Because it is not possible to run a low-latency, low-jitter exchange in a web infrastructure, combining the two implies that access must be tiered — with the result that only specialist firms such as B2C2 will benefit from the fastest, most expensive connectivity options.

(The contents above are all cited from corresponding websites, and don’t represent the opinion of BitMax.io platform)

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AscendEX is a leading global digital asset financial platform founded by a group of Wall Street quantitative trading veterans in 2018, servicing retail and institutional clients in over 200 countries and regions of the world.

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