Tradewind, a spinoff from stock trading firm IEX, has launched a blockchain-powered gold trading platform. The firm, whose principals were the subject of the best-selling book “Flash Boys,” kicked off its VaultChain platform last week. As previously reported, the company is working with major companies like the Royal Canadian Mint and gold giant Sprott Inc. The effort is the latest to bridge the technological underpinnings of cryptocurrencies in a gold-trading environment. Continue reading Tradewind Launches Blockchain Platform
HFT giant Virtu has been the target of an apparent clone scam, using its likeness to attract possible investors. The company is threatening legal action and has already approached the authorities about the matter. The promotional matrial for the “coin” in question, Virt, is so bizarre it almost looks like a parody of the current state of the market or the result of an ICO whitepaper writing AI gone rogue. Virtu Financial (NASDAQ:VIRT), one of the largest high-frequency trading firms on Wall Street, has issued a warning to the public on Friday against Virtcoin, explaining it has no relationship, connection, or affiliation to the company and its officers and directors. Additionally, “Virtu has notified the appropriate authorities and intends to commence all necessary legal actions to defend itself from any attempt to infringe on Virtu’s copyrights, trademarks and intellectual property.”
With new exchanges popping up left and right, do we honestly need another cryptocurrency exchange? The team at Bitmora says yes. Bitmora is a digital asset trading platform launching on May 12th. But this is no ordinary exchange platform. The heart of Bitmora lies in its community. Since day one, Bitmora has been building a bond with the public keeping one goal in mind, creating a safe, fair, and reliable exchange. Foregoing immediate release, Bitmora has spent the past four months running polls off their site so that the public can be heard, allowing the people to decide which features and coins will be part of their exchange. This is an exchange that cares about the voice of its members. Many suggestions have already been accepted for implementation, and Bitmora plans to keep their voting system live indefinitely after launch, hoping to build upon the unique Democratic System it has brought to this sector. Thanks to their partnership with AlphaPoint, a company specializing in Blockchain and Asset Digitization, Bitmora users will experience trading speeds of over 1 million transactions per second across thirty digital asset pairs. With the backing of AlphaPoint, Bitmora is working with other top exchanges to bring the liquidity necessary for a platform of this size.
The US Commodity Futures Trading Commission (CFTC) has given its employees the green light to trade cryptocurrencies, a decision that came in response to “numerous” inquiries from agency staff. The policy, which Bloomberg reports was announced in a Feb. 5 memo written by CFTC general counsel Daniel Davis, said that because the agency has determined that cryptocurrencies are commodities, employees can trade them like they would precious metals, barrels of oil, and other commodities. However, this policy has several caveats. CFTC employees may not trade cryptocurrencies on margin, nor may they take advantage of any insider information they acquire in the course of their work at the regulatory agency. The CFTC first determined that cryptocurrencies are commodities in 2014, giving the agency a modicum of oversight on cryptocurrency trading. While the agency does not have the authority to supervise cryptocurrency exchanges — which are currently regulated at the state level under money transmitter laws — it has direct oversight of US cryptocurrency futures markets, the first of which launched in December on Chicago-based exchanges CBOE and CME. CFTC regulators may also investigate fraud and manipulation in the spot markets, and the agency has brought suits against several alleged cryptocurrency investment scams.
With the cryptocurrency industry becoming a lot more popular lately, it is only normal that there is more competition among exchanges and trading platforms. Right now, most centralized exchanges have a few things in common, including trading fees and a lack of tradable currencies. With COBINHOOD, that situation will change sooner rather than later. It is the world’s first zero-fee exchange for cryptocurrency trading and is entirely funded through its initial coin offering proceeds. COBINHOOD is a decentralized cryptocurrency exchange which operates with zero fees for all participants. There are no maker or taker fees to speak of, which is a more than welcome change. The team claims it is the first exchange in the world to offer zero-fee trading at all times, which is rather impressive. It is also worth mentioning that the COBINHOOD exchange is available on mobile devices through a native application, making cryptocurrency trading even more convenient. Even though we could use more platforms which do not charge trading fees, it remains to be seen if we will get them. Traders will enjoy this perk as they can maximize their profits with ease, and there is also zero trading fee for spot trading and margin trading with up to 10x leverage. Furthermore, the exchange prides itself on storing the great majority of its digital assets in an offline multisignature vault. Using additional security when dealing with other people’s money is no unnecessary luxury in this day and age of exchanges being hacked virtually every other month. COBINHOOD requires 5-of-8 geo-distributed hardware security modules to access the offline multisig vault. Any funds kept in online wallets are fully backed by insurance in order to recover any losses if things were to go awry.