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Crypto Markets News from John Lothian News – May 15, 2018

Notes from Day One at Consensus

By Chuck Mackie – JLN

If you had any doubts about the swelling surge of interest in cryptoassets, you only had to try and check in to [[https://www.coindesk.com/|Coindesk’s]] [[https://www.coindesk.com/events/consensus-2018/|Consensus conference]] in midtown Manhattan around mid-morning on Monday. The line snaked its way back and forth through the 2nd floor lobby, down the escalator and out of the front door of the hotel, and it took up to two-and-a-half hours for the reported 7,700 attendees to check in for the event. Consensus began four years ago with 500 true believers in attendance, grew to 1,500 in 2016, reached 2,800 last year, and was up 275 percent this year. Full crypto craziness may be upon us.

Beyond the numbers, Consensus kicked off with a rousing endorsement from a corporate titan, featured numerous interesting and enlightening new developments, and a bit of a dust-up at the end of the day that helped to keep it all in perspective.

For the rest of the story, click HERE.

Notes from The Trading Show Chicago

By Chuck Mackie – JLN

Terrapinn’s Trading Show has established itself as a sure sign of spring in Chicago, and while the past few years have found the event swinging heavily to a focus on the technology side of trading, including chips, servers, databases and connectivity, the 2018 edition of the show had a strong leaning towards…you guessed it: cryptocurrencies. Everywhere you go in financial markets in 2018, bitcoin and other cryptocurrencies are sure to be there.

The exhibitors at the conference still skewed to the hard technology side (let’s face it, all of trading is touched by technology at this point) but the open seminars and VIP panel discussions were weighted heavily towards crypto, with 11 of 19 seminars focusing on blockchain, etc. and a separate track just for crypto panels and presentations. Also, the title sponsor for the Trading Show was [[Kraken]], the large crypto exchange, and their team was everywhere on the trade show floor, leading roundtable discussions, appearing on panels, and even throwing an overcrowded (read: successful) party after the last day of the show.

For the rest of the recap, click HERE.

Coinbase plans revamp to lure institutional and high-speed traders
Anna Irrera, John McCrank – Reuters
Cryptocurrency exchange Coinbase is planning a revamp of its trading technology and creating a new suite of services to attract more institutional investors, including hedge funds and high-frequency trading firms, it said on Tuesday.
https://jlne.ws/2jVCIvA

CoinDesk Releases Q1 2018 State of Blockchain Report
Peter Ryan – Coindesk
After reaching historic highs in 2017, cryptocurrencies languished across multiple fundamental metrics in this year’s first quarter.
Unease permeated the industry, mostly from regulatory uncertainty and pull-back after a year of parabolic growth.
To shed light on a tumultuous Q1, CoinDesk’s latest State of Blockchain report provides a 90-plus slide analysis of some of the most significant data points.
http://bit.ly/2jZdLiO

Winklevoss Brothers Bitcoin Exchange Adds Zcash, Litecoin, Bitcoin Cash
Michael del Castillo – Forbes
The Gemini bitcoin exchange founded by Tyler and Cameron Winklevoss is adding support for Zcash, a privacy-focused cryptocurrency with a market valuation of over $1 billion.
http://bit.ly/2IiBs4g
****Press release [[http://bit.ly/2Ijl5nW|here.]]

The World’s First Trade Finance Transaction on the Blockchain Involves Soybeans
Polina Marinova – Fortune
HSBC said it has performed the world’s first trade finance transaction using blockchain technology.
http://goo.gl/gQ8KhU

NASDAQ-Powered Crypto Exchange DX Set to Launch Next Month
Finance Magnates
There’s a new crypto exchange in town. But if you feel that the town is getting too crowded, this resident is quite different.
Learn how to buy Bitcoin and Ethereum safely with our simple guide!
dx.exchange, which is set to launch next month, is the first crypto exchange powered by NASDAQ. “The advantage of this cooperation is threefold: the brand name, the technology and the regulations,” said DX Exchange CEO Daniel Skowronski, commenting on the topic exclusively to Finance Magnates.
http://bit.ly/2IJWBnw

Bitcoin Mining Rig Maker Canaan Files for $1 Billion IPO
Crystal Tse and Blake Schmidt – Bloomberg
China’s Canaan Creative aims to start trading as soon as July; Firm seeks first Hong Kong IPO from cryptocurrency industry
Canaan Creative, the world’s second-biggest maker of bitcoin mining hardware, has submitted an application for a Hong Kong initial public offering that could raise about $1 billion, people with knowledge of the matter said.
https://jlne.ws/2wKqQ90

Forex Platform Serving Goldman Sachs and Morgan Stanley Adds Crypto Trading
Helen Partz – Cointelegraph
Software developer Kx Systems has launched cryptocurrency trading on its white label forex (FX) trading platform Kx for Flow, the company reported in a blog post May 14. Starting today, Kx for Flow customers are able to conduct spot trading of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP).
http://bit.ly/2IJzY2m

Wyoming Aims to Be America’s Cryptocurrency Capital – The state is passing laws to attract the country’s digital-money business.
Benjamin Bain – Bloomberg
Wyoming is about 1,000 miles from Silicon Valley and even farther from wealthy East Coast investors. But the Cowboy State is hitching its wagon to the virtual currency craze, bidding to reinvent itself as the most crypto-friendly state in the U.S.
https://jlne.ws/2Kqmciy

REX Shares to Launch Blockchain ETF, Managed by CNBC’s ‘Fast Money’ Brian Kelly
Ricardo Esteves – NewsBTC
The U.S. Securities and Exchange Commission (SEC) has blocked the filings of Bitcoin exchange-traded-funds (ETFs) even after the launch of Bitcoin futures contracts in December 2017. The regulator now seems closer to accept this financial instrument, but some investment firms chose not to wait and get creative. REX Shares is about to launch BKC, its Blockchain ETF.
http://bit.ly/2GeLZrz
****REX Shares CEO Greg King had a hand in developing a number of the first VIX-linked ETPs to hit the market.~[[SD]]

30+ Real Examples Of Blockchain Technology In Practice
Bernard Marr – Forbes
While Bitcoin and cryptocurrency may have been the first widely known uses of blockchain technology, today, it’s far from the only one. In fact, blockchain is revolutionizing most every industry. Here are just a few of the practical examples of blockchain technology.
http://bit.ly/2IfYE3l

FedEx CEO: Adopt New Tech Like Blockchain or Be Disrupted
Wolfie Zhao – Coindesk
“Blockchain has the potential to completely revolutionize what’s across the border.”
http://goo.gl/aLmLnC

Ethereum Founder Acknowledges Promising Solution To Blockchains’ Scalability Problem
Andrew Rossow – Forbes
Vitalik Buterin, the cofounder of Ethereum, holds some serious clout in the blockchain space. So when he tweeted last week about a new project that he’s looking forward to going live, peoples’ heads started to turn. You know when Buterin endorses a project, it must be good.
http://goo.gl/fVfRhY

Fed’s Bullard: Cryptocurrencies creating ‘non-uniform’ currency in US
Mamta Badkar – FT
Cryptocurrencies are creating a “drift toward non-uniform currency in the US”, St Louis Federal Reserve president James Bullard said on Monday, cautioning that historically these have been “disliked and eventually replaced”.
https://jlne.ws/2KmpHXi

Bitcoin cash is expanding into the void
Jemima Kelly – FT
I like big blocks and I cannot lie.
That was the opening line from nChain CEO Jimmy Nguyen — whose company wants to make bitcoin spin-off bitcoin cash (BCH) the cryptocurrency of the future — on a panel (or more precisely, a man-el) last week at Exeter University. He was referencing Sir Mix-A-Lot’s early 90s classic Baby Got Back (NSFW music video here).
https://jlne.ws/2wJnm6N

Kx Systems launches support for cryptocurrency trading
Finextra
Kx SystemsKx Systems, a division of First Derivatives plc (AIM:FDP.L, ESM:FDP.I), announces that its Kx for Flow electronic trading platform has been extended to support the trading of cryptocurrencies.
https://jlne.ws/2IJJYbU

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Lothian is executive chairman and CEO of John J. Lothian & Co. and editor of the John Lothian Newsletter. He publishes MarketsWiki.com, MarketsReformWiki.com, MarketsWikiEducation.com, JohnLothianNews.com and three industry newsletters.