BitDigest November 19 · Issue #788

• Crypto prices hit resistance after recent run-up but showing upward move at end of Asian trading day
• Thailand adjusting net capital requirements to protect traders on digital exchanges
• The Chief Economist of the Bank of England’s says that digital currencies could eliminate the need for negative interest rates

Weekly Stock Review

Highlights from the North American listed crypto, blockchain and mining stocks:

• Grayscale’s Litecoin Trust (OTCQX: LTCN) with its 3335% premium to NAV was the top performing crypto asset in the North America equity universe jumping 104% on extremely low volumes.
• Galaxy Digital (TSX: GLXY) had a very big week, announcing record high trading volumes of $1.4 billion drove quarterly income to $44.5 million, the acquisition of two leading cryptocurrency trading firms, and plans to file an IPO for a closed-end investment bitcoin fund in Canada.
• TAAL Distributed Information Technologies (CSE: TAAL) is going to establish BitcoinSV hosting capacity in North America with the addition of 175 PH of computing power by the first quarter of 2021.
• Bit Digital (NASDAQ: BTBT) entered into an asset purchase agreements to acquire $13,903,088 worth of bitcoin miners with total hash power capacity of 1,000 Ph/s.
• Canadian crypto miner Hut 8 Mining Corp (TSX: HUT) reported quarterly revenues of $5.8 million against a net loss of $900 thousand in Q3.
• Bitcoin miner Marathon Patent Group  (NASDAQ: MARA) reported revenue of $835 thousand with a net loss of $1.9 million during the third quarter.
• Shares in Ebang International (NASDAQ: EBON) was the worst performer this week dropping 9.1%.
• Bitcoin returned 13.4% this week compared to a mean return of 17.2% and medium return of 10.3%

The Headlines

Thailand Revises Net Capital Regulations

www.bangkokpost.com

Thailand’s Securities and Exchange Commission has revised its net capital (NC) rules for securities and derivative brokers to increase liquidity management in case of emergencies and adjust the risk value to be in line with the current market conditions to help support digital currency exchanges.

BoE Economist Says Crypto Could Mitigate Negative Interest Rates

www.theblockcrypto.com

The chief economist at the Bank of England says digital currencies can mitigate the need for negative interest rates by enabling interest rates to be levied on retail monetary assets.

Vietnam to Put Diplomas on Blockchain

www.beincrypto.com

Vietnam’s Ministry of Education and Training is looking to trial a plan to provide all high school and university diplomas on a blockchain.

IHS Markit to Distribute Lukka Products

www.finextra.com

Global business information provider IHS Markit has signed an agreement to provide Lukka’s crypto tax and data solution products to their clients enabling funds to add digital currencies to their portfolios in compliance with regulatory guidance.

VMware Introduces Enterprise-grade Blockchain

www.octo.vmware.com

Cloud computing company VMware (NYSE: VMW) announced the initial availability of an enterprise grade blockchain service.

Exchange, Custody and Product News

Binance Sues Forbes For Defamation

www.prnewswire.com

Binance has filed a defamation lawsuit against Forbes Media in response to last month’s reports that the digital currency exchange designed a program to “intentionally deceive regulators,” and engages in activity “characteristic of money laundering;” the suit was filed in the US District Court in New Jersey.

CoinFLEX Launches Interest Bearing Stablecoin

www.coinflex.com

Crypto futures exchange Coinflex is launching an interest bearing dollar backed stablecoin, flex USD, offering fixed rate 1 month – 12 month loans paying interest every eight hours.

Digital Diversions

Blockchain is 'Critical' Technology

www.u.today

JP Morgan Chairman Jamie Dimon say he is still not convinced on the benefits of bitcoin, explaining it’s “not [his] cup of tea,” but he remains fully behind blockchain technology saying it “will be critical in letting people move money around the world cheaper.”