Blockchain Report — 12/13/2018

Summary: Cryptocurrency Exchange Kraken Is Thinking About Having A Private Offering; Binance Launches “Binance Academy” To Teach You About Blockchain And Cryptocurrency; Investor Mike Novogratz Says Cryptocurrency ICOs Are “Pretty Much Dead”

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Cryptocurrency Exchange Kraken Is Thinking About Having A Private Offering

According to Cryptoglobe, the U.S.-based cryptocurrency exchange Kraken is thinking about having a private offering. In the private offering, the company would sell some of its most prominent clients shares in the company. The minimum investment in Kraken for the shares is $100,000.

Kraken sent out an email to prospective clients, stating that they are not having this private offering for financing but because it sees acquisition opportunities for potential investors. The private offering would value Kraken at a whopping $4 billion valuation. The email sent to clients stated:

The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment.

Binance Launches “Binance Academy” To Teach You About Blockchain And Cryptocurrency

According to The Next Web, the cryptocurrency exchange Binance wants to teach people about blockchain and cryptocurrency through its “Binance Academy”. Binance Academy features a number of different articles that explain cryptocurrency and blockchain topics.

Binance Academy will be available in 15 different languages, including French, German, Spanish, Chinese, and Russian. Binance Academy is split into four different categories: Blockchain, Economy, Security, and Tutorials. Binance Academy also provides a glossary for common words and phrases used in the cryptocurrency industry.

Featured articles on Binance Academy include an explanation of cryptocurrency mining, liquidity, a history of blockchain, and moving averages explained.

Binance is also offering institutional-grade research reports on specific digital assets and market trends. These reports will offer proprietary data, full transparency on token economics, and strategic insights into different cryptocurrencies.

So far, Binance Academy doesn’t seem to provide any new or innovative information to experts in the cryptocurrency space. But it does provide a good starting point for new people entering the market.

Investor Mike Novogratz Says Cryptocurrency ICOs Are “Pretty Much Dead”

According to NewsBTC, former Goldman Sachs partner Mike Novogratz said that the ICO market is “pretty much dead” at the moment. Novogratz now runs a cryptocurrency bank called Galaxy Digital Holdings. Novogratz explained why the ICO market has seemingly died:

“There was a lot of fraud, and there was a lot of hype, and people lost money…The Securities and Exchange Commission (SEC) was behind the curve, so they slammed on the brakes. But the SEC doesn’t want to kill this innovation; we’ve spoken to them at length”

Novogratz said that the demand for ICOs is now gone, but that there will be an increase in demand for security tokens. However, they will have significantly lower returns than most ICOs have promised in the past:

“I think you’ll see a market for security tokens — a real estate portfolio that gets tokenized, for example… These aren’t things that go from $1 to $1,000. They’re things that yield 14 percent, and they’ll be sold to qualified buyers. That sounds a heck of a lot less sexy, but you’re going to see that business grow.”

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