Financial Research



Bitcoin and ether holding above $19,000 and $600 respectively as total crypto marketcap inches toward $600 billionSouth Korea may delay new tax policy for digital assets until 2022Nigeria is looking to develop its own regulatory framework for cryptocurrencies What We Are Watching 📈With numerous exchanges trading bitcoin, defining an all-time-high is a difficult number to establish. Coinmarketcap. com has bitcoin hitting $20,052 on December 17, 2017 and among the bitcoin community, I think it’s commonly stated that bitcoin surpassed $20k that year. But among many institutional investors bitcoin’s high is $19,511 as this figure is what Bloomberg is reporting. With the increasing entrance of institutional investors entering the cryptosphere, we believe this figure is more meaningful for today’s market. 🦃 🦃 🦃 🦃 🦃 This will be the last issue of BitDigest for the week. Have a very happy Thanksgiving holiday. The Headlines Market Data Exchange, Custody and Product News Thoughts on the Ecosystem

November 24 · Issue #791

Bitcoin looking to break $19,000 as ether jump above $600The US may have overlooked the ability to seize millions of dollars in forked coins as part of the recent $1 billion Silk Road seizureThe IRS is issuing incorrect tax discrepancy statements to Coinbase traders Crypto Fear and Greed IndexThe Fear & Greed Index for bitcoin and other large cryptocurrencies remains in the “extreme greed” zone and is up 2 points to 88 since last week, but has fallen 2 points over the past 24-hours. Over the past 7 days, the index has fluctuated between 86 and 94 as it attempts to regain the June 2019 all-time-high of 95. Unlike prior periods where retail investors drove the run-up in bitcoin, I expect activity to weaken with the index stable over the shortened US holiday week as institutional traders lean to “hodl.” The Headlines Market Data Exchange, Custody and Product News Thoughts on the Ecosystem

November 23 · Issue #790

Crypto prices weather weekend trading and closing in on $550 billion marketcapXi wants G20 to remain ‘open and accommodating’ to CBDCsThe Office of the Comptroller is looking to ensure all financial entities are offered equal access to banking services The Headlines Market Data Thoughts on the Ecosystem

November 20 · Issue #789

Bitcoin jumps back above $18,000 and ether breaks $500; all REBEL coins report positive 7-day and YTD results for first time this yearSEC Chairman Jay Clayton says he expects to see more regulation around the digital payment spaceIRS Looking to issue new rules for treatment of digital currencies Blockchain is at a Tipping PointOver the past few days Economist Nouriel Roubini reiterated his belief that blockchain is the “most overhyped technology ever.” Ken Seiff and the team at Blockchange Ventures recently published an investor letter that clearly disagrees with Roubini’s statement and suggested that blockchain is on a trajectory to become a generation technology shift as consequential as the internet. They identified 6 reasons why they see blockchain “at a tipping point:” We are beginning to see large markets and applications emerge beyond cryptocurrencies and speculation. COVID-19 – and its economic fallout – have highlighted strains in legacy systems and accelerated the conditions for blockchain adoption. Top-tier enterprises are adopting the Blockchain. High-quality talent is entering the blockchain sector from top companies. For the first time, large companies and financial institutions have made significant and very public investments in Bitcoin. Institutional grade blockchain infrastructure has arrived. The Headlines Exchange, Custody and Product News Thoughts on the Ecosystem

November 19 · Issue #788

Crypto prices hit resistance after recent run-up but showing upward move at end of Asian trading dayThailand adjusting net capital requirements to protect traders on digital exchangesThe 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 Exchange, Custody and Product News Digital Diversions

November 18 · Issue #787

Bitcoin breaks $18,000 leading crypto market cap over $500 billionThe Central Bank of the Netherlands said all digital exchange customers must verify they own any address digital currencies are withdrawn toRay Dalio explains his argument against bitcoin and asks to be corrected Correction: Yesterday I wrote that FinCEN is looking to adjust the Travel Rule from $300 to $250. This was a typo, the Travel Rule currently requires details of monetary transactions at the $3,000 level not $300. The Headlines Market Data Exchange, Custody and Product News Thoughts on the Ecosystem

November 17 · Issue #786

Crypt prices jump as bitcoin nears $17,000Crypto trades optimistic with announcement of SEC Clayton’s departureFinCEN is looking to lower the Travel Rule to $250 to respond to new efforts by criminal organizations Crypto Fear and Greed IndexThe Fear & Greed Index for bitcoin and other large cryptocurrencies has remained in “extreme greed” levels this week unable to break the recent 90 highs and dropping four points to 86 as the market fears bitcoin’s recent run-up could be signaling the need for a short-term correction. The Headlines Market Data Thoughts on the Ecosystem

November 16 · Issue #785

Crypto prices hold over weekend as total market cap inches towards $500 billionThe Deputy Governor of Bank of England explained the bank was not required to protect traditional banking business models against the threat of digital currencies and blockchain innovationsFATF says private companies still need to work harder to implement ‘Travel Rule’ The Headlines Market Data Exchange, Custody and Product News Thoughts on the Ecosystem

November 13 · Issue #784

Bitcoin dominance breaks 65% as BTC jumps above $16,000; REBEL coins show mixed return over 7-daysECB President Lagarde expects it will take Eurozone at least two years to develop CBDCThe Fed has not made any decision on the future of a digital dollar The Headlines Exchange, Custody and Product News

FSInsight logo
150 East 52nd St, 3rd Floor, New York, NY 10022

Subscribe to our Free Weekly Report

An insitutional-grade report delivered to your inbox every week.

© 2020 FSInsight. All rights reserved. Developed by HANGAR115.

Illustrations by Karl Wimer.