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AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.
What is an Institutional Investor / Trader?An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.
Who are AX Trading?AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.
What is an Alternative Trading System?An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.
How does AX Trading Work?The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.
What is a Security Token?Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).https://preview.redd.it/21cz6zvus0m31.png?width=569&format=png&auto=webp&s=883eb844e1061cddd585903549dde829098765c2
Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars
What are the benefits of a security token?
Security Token Issuance PlatformsSecurity token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
Trading VenuesWhilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
Post Trade — Central Security DepositoriesSituated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
The Importance Of Interoperability
The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with AccentureIt’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).
Enter Quant Network’s OverledgerQuant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability http://search.quant.network/ to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”
SecurrencyAX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.
Delivery vs Payment (DvP)
A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of JapanWe have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.
J.P.Morgan’s CoinJ.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.
How does JPM Coin work?A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
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2019 has been a tumultuous but amazing year for the development and advancement of blockchain technology. Following the rally to the all-time-highs at the end of 2017 and the intense infrastructure development and ongoing Bear Market of 2018 it was clear things were changing quickly. We are about to enter a new decase and the team at Aelf wanted to look back at 2019 and reflect on some of the events that occurred over the last year to see where the industry might be headed in 2020.
Although the year has been considered a continuation of the 2018 bear market, it didn’t stop development, progression and a myriad of crazy events from occurring. This included the challenges associated with global regulations, the upcoming Bitcoin halving event in May 2020, announcement of the Facebook Libra and Telegram Open Network’s (TON) launch delay. This year also saw a myriad of debacles from self-proclaimed Bitcoin creator Craig Wright, the Justin Sun and Warren Buffet lunch situation, the recent claim of Twitter CEO Jack Dorsey’s goal to modify Twitter into a decentralized version of the platform, and President Trump’s Bitcoin statement, among others. Now let’s examine more of what took place during 2019 as we approach the start of the New Year in 2020.
The SEC, Telegram, Facebook Libra, Kik and Blockchain’s Global Regulatory Environment
Many of the world’s governments have been harsh towards blockchain technology in recent years. Particularly, the US Government and the Securities and Exchange Commission (SEC) have been very reluctant to ease the regulatory framework for blockchain development in the country. This has become more evident in 2019, with the SEC combatting many blockchain projects this year including the $1.7 billion-dollar token offering of the Telegram Open Network
and the Facebook Libra project. As well the SEC created controversy in a gruesome battle with Kik over its alleged illegal token offering that Kik has sworn to fight to their last breath.
Many proponents of blockchain technology accuse the SEC of unfair policies to put a stranglehold on the development on blockchain in order to prevent the devaluation of the American monetary system. The reluctance for crypto exchanges to set up shop in the US is also becoming more prevalent because of the supposedly biased and unfavourable approach of the SEC. Nevertheless, there are also several major countries including China that have for the most part embraced the advancement of blockchain technology in 2019. China has also nearly finalized the development of the digital Chinese Yuan and announced that that country is going all in on blockchain development despite its sometimes anti-Bitcoin approach.
The Bitcoin Halving Event and its Ongoing Effect on Market Conditions
With the end of 2019 nearly upon us and the upcoming Bitcoin halving event set to take place during May of 2020 the market could be overdue for a bull market of mass proportions. Remember, the last bull market that took place was 2 years ago during December 2017 and was followed by an incredible dump from the all-time-high price of 20 thousand US Dollars to just 3300 USD in December 2018. For the most part, 2018 was a blood-bath for crypto markets and 2019 has not been all that much better. The price did briefly rally up to 14 thousand US Dollars during mid 2019 but has since been reduce by half with the Bitcoin price presently at just over 7000 US Dollars. Bitcoin was designed by its original creators with code written to mitigate the negative effects of inflation. In order to curb inflation, once every 4 years (or 210,000 blocks) the mining rewards that the network automatically generates are reduced in half.
3 Additional Stories to Watch in 2020
In June, the CEO of Tron, Justin Sun purchased tickets through eBay for a charity auction to have lunch with Warren Buffet. Sun paid a record $4.56 million US Dollars in the process becoming the highest bid in the 20-year history of the event. The purpose of the lunch from Sun’s standpoint is to change Mr. Buffet’s viewpoint towards crypto and blockchain tech by inviting several blockchain industry leaders to help sway the famous investor’s perspective. Sun subsequently missed the lunch he scheduled in September because of a sudden bout with kidney stones. At this time, the community will have to wait and see when Sun and Buffet will meet in 2020. Stay tuned.
Back in December of 2015, Craig Wright claimed publicly to be the creator of Bitcoin, Satoshi Nakamoto. Most believe Wright was lying to gain more fame and recognition in the industry. On November 18th, 2018 Bitcoin SV hard forked from the Bitcoin Cash Network to create it own chain. As noted above, the disgruntled CEO of Bitcoin SV, has for years maintained he led the initial development of Bitcoin. During February 2018, Wright was the subject of a 5.118-Billion-dollar lawsuit by Dave Kleiman claiming that Wright defrauded Kleiman of Bitcoin while working on the initial development of the Bitcoin Network between 2009 and 2013. In August 2019, Wright was ordered by a court of law to pay half the 5.11 Billion in Bitcoin back to Kleiman. Throughout 2019, Wright launched lawsuits against Ethereum founder Vitalik Buterin, Bitcoin Cash’s Roger Ver and others for calling him a fraud. It seems likely Wright will continue his ongoing Satoshi rhetoric in 2020.
The CEO of Twitter, Jack Dorsey recently stated that he has hired 5 full-time employees to modify the Twitter platform and make it increasingly decentralized. This may seem like a small step initially, but this project could be expanded easily by someone of Dorsey’s reputation and wealth in the technology industry. Dorsey himself has been a long-term proponent of blockchain technology and an investor in Bitcoin. Binance CEO, Changpeng Zhao, recently offered to help Dorsey make this dream come to fruition. Additionally, Morgan Creek Capital founder Anthony Pompliano supported Dorsey’s statement noting that, “Jack Dorsey may understand the future better than any entrepreneur on the planet right now.”
This year we saw Kik, Telegram and Facebook Libra face fierce backlash from the most powerful regulatory body in the world, the SEC. We saw the Chinese government announce that they are all in on blockchain development and declare the upcoming launch of their own centralized digital Chinese Yuan. Justin Sun postponed his 4.56-million-dollar lunch with billionaire investor Warren Buffet because of health issues, while Jack Dorsey the CEO of Twitter proclaimed a more decentralized and open version of Twitter to prevent some of the abuse on the platform.
In 2019, the 4-year long Craig Wright and Satoshi Nakamoto saga continued, and we finally are moving closer to the much-anticipated Bitcoin halving event of May 2020 that could change the trajectory of the Bitcoin price for much of 2020 and 2021. It is clear 2019 has been an incredible year for the blockchain industry. With no shortage of uncertainty and scepticism in the short-term, it is likely that 2019 will pale in comparison to the developments of 2020. As we approach 2020, the industry will continue to expand towards mass adoption and the mainstream evolution of blockchain technology. Nevertheless, with the global regulatory blockchain environment evolving in many areas across the world, the uncertainty in the United States remains stronger than ever. There is no telling what will happen in this regard and what will happen with Bitcoin and this amazing revolution in 2020 and beyond.
Merry Christmas and Happy Holidays from the Aelf Blockchain team and a Happy 2020 to all our community members!! Thank You
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DEWA Inks Deal With Alibaba For Blockchain And IoT Dubai Electricity and Water Authority (DEWA) said it has signed a MoU with Alibaba Cloud, the data intelligence backbone of Chinese e-commerce giant Alibaba Group as part of the utility’s ongoing efforts to enhance its digital services.
Swedish Government Auctions Cryptocurrency Again The Swedish Enforcement Authority, Kronofogden, is once again auctioning off cryptocurrency that has been allotted for public sale. The online auction, which is the second of this kind the government agency conducts, starts on Friday, October 11. Kronofogden first auctioned Bitcoins it had in its custody about two years ago, when the highest bid was placed at 43,000 Swedish krona.
US And China Agree ‘Phase 1’ Trade Deal; Trump Suspends October Tariff Hike The United States and China agreed on Oct 11 to the first phase of a deal to end a trade war, prompting President Donald Trump to suspend a threatened tariff hike, but officials said the agreement had to be put on paper and more work was required to get it finalised. The real-time exchange rate between USD and RMB is 7.0892 currently.
David Marcus: Respect Visa And Mastercard’s Decision To Wait For Regulatory Clarity For Libra To Proceed After several companies announced their withdrawal from cryptocurrency Libra’s management association lead by Facebook, Libra project leader David Marcus said on Twitter, “Special thanks to @Visa and @Mastercardfor sticking it out until the 11th hour. The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for @Libra_to proceed, vs. the invoked threats (by many) on their biz.” He also added, “I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but in a way it’s liberating. Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.”
SEC, CFTC, FinCEN Warn Crypto Industry To Follow US Banking Laws The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday. The statement, signed by Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco and Securities and Exchange Commission (SEC) Chairman Jay Clayton, “reminds” actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens.
Encrypted project calendar（October 12, 2019）
BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th. BLAST (BLAST): 12 October 2019 (or earlier) Masternode & Assets “Masternode functionality and versionbits signalling for Assets will become active on the BLAST network at block height 1710000.” Pundi X (NPXS): and 1 other 12 October 2019 Token Removal “The next token removal will take place on the second Saturday of October OKEX OKToken: 12 October 2019 Global Mining Summit “We’re bringing together the global leaders who are shaping the crypto mining industry today. Attendance is limited to 300 invited guests.” Bitcoin Fast (BTCF): 12 October 2019 Staking Announcement Details about staking BTCF will be shared.
Encrypted project calendar（October 13, 2019）
LINK/ChainLink: ChainLink (LINK) will be held in Tokyo on October 13th by a collaboration between QuarkChain, bitgrit, Chainlink and Vechain. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th. OTOCASH (OTO): 15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM” (CRYPTO): 15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17. Cardano (ADA): 15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYC FunFair (FUN): 15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on Discord Ark (ARK): 15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “ DigiByte (DGB): 15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC. ThoreNext (THX): 15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.” IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.” Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.” Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM. Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.
Encrypted project calendar（October 22, 2019）
ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
At the time of writing, Bitcoin is trading down marginally at its current price of $8,250 which marks a slight retrace from its daily highs of $8,445. Ever since BTC bounced from its support level at $8,600, the cryptocurrency has been facing a bout of consolidation after its upwards momentum stalled, which may mean that its bulls do not have enough strength at the moment to push the cryptocurrency higher.
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Following the announcement that the US Department of Justice (DoJ) has seized one billion dollars in Bitcoin (), market players are currently discussing possible scenarios for the future.According to the DoJ, the Bitcoins were seized by law enforcement on 3 November, following an investigation that included a search for cryptographic transactions, “This seizure represents the largest seizure ... US Government’s BTC Auction. The U.S. government is auctioning off some bitcoins this month. According to the announcement by the U.S. Marshals Service (USMS) which is holding the auction ... The US Government Auction starts today where more than 4,000 BTC will be auctioned today and the procedure will happen with sealed bids where the bidder that bids the most gets the bitcoins. Let’s read more in the following Bitcoin news today, here at DC Forecasts. A Bitcoin auction slated for February 18, 2020, will see the US government through the Marshals Service sell more than Bitcoin (BTC) to bidders.. That’s according to a “For Sale” notice the federal law enforcement agency published on Monday. The sale will see 4,040 bitcoins (4,040.54069820 to be exact) go on sale. While the US government says it will sell the Bitcoin it just seized at auction, this may or may not be the case. The US government has a long history of tolerating market manipulation in the alternative assets space, and with more than $1 billion in BTC, it no longer needs to use the futures market to game the Bitcoin price. Given the recent price action of Bitcoin, and the rush by Wall St ... Source: Adobe/momosama. Following the news that the US Department of Justice (DoJ) has forfeited USD 1 billion worth of bitcoin (BTC), market players are now discussing possible scenarios what could happen next.. Per the DoJ, the bitcoin ... The US government revealed it took $1 billion of stolen Bitcoin in the largest cryptocurrency seizure in history. ... The 69,000 bitcoin would be the largest auction yet. It’s unclear when the US will want to sell these funds, but with BTC’s recent rally and general volatility, the price at the sale would be hard to predict. Not everyone, however, will get a shot. According to the Wall ... Binance.US is scheduled to open up for registrations and deposits on September 18, and trading will commence soon after that, although the time of trading commencement has not been disclosed yet. Binance.US looks to be far more limited than regular Binance, with only Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and Tether trading available to start. Further, Binance.US will require ... Forfeited Bitcoin from several Federal, Civil, and administrative cases will be auctioned by the US government. Registration is open for bidding for 4,040 bitcoin, which is currently worth $37 million. The US Marshals Service, a federal law enforcement agency with the Department of Justice is holding the auction. Blockchain platform Maecenas announced Wednesday its plans to hold the “world’s first cryptocurrency art auction”, featuring a piece by famed artist Andy Warhol, as reported by Cointelegraph.. Crypto-friendly art auction. The auction will be held at UK fine art gallery Dadiani Syndicate on 20 June, with a 49% ownership stake of Andy Warhol’s 14 Small Electric Chairs up for sale.
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