Crypto prices sharply down after SEC postpones Bitcoin ETF decision

Globe and Mail | Aug 8, 2018

Securities exchange commission - Crypto prices sharply down after SEC postpones Bitcoin ETF decisionThe 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin.

A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.)

The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation.

Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg composite pricing. Ripple slumped 10 percent while Ether and Litecoin sank at least 4.7 percent. All but two of the 100 biggest virtual currencies tracked by Coinmarketcap.com slumped over the past 24 hours.

The SEC now has until Sept. 30 to “approve or disapprove, or institute proceedings to determine whether to disapprove” a proposed rule change from Cboe Global Markets Inc. that would allow the listing of an ETF from VanEck Associates Corp. and SolidX Partners Inc., the regulator said in a statement. An initial deadline was due to expire next week.

The regulator denied an exchange’s request to list a similar fund run by Tyler and Cameron Winklevoss late last month. Some had argued that VanEck’s proposal was more likely to gain approval thanks in part to plans for a high minimum share price that would discourage retail investors. The SEC received more than 1,300 comments on the proposed rule change as of Aug. 6, it said.

Continue to the full article --> here


NCFA Jan 2018 resize - Crypto prices sharply down after SEC postpones Bitcoin ETF decisionThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Latest news - Crypto prices sharply down after SEC postpones Bitcoin ETF decisionFF Logo 400 v3 - Crypto prices sharply down after SEC postpones Bitcoin ETF decisioncommunity social impact - Crypto prices sharply down after SEC postpones Bitcoin ETF decision

NFX | Gigi Levy-Weiss | Jan 26, 2023 An overlooked key to growth: How well you transition from Founder to CEO determines how your company scales. Seed stage Founders have a hand in everything: marketing, hiring, product, sales, everything. You have to early on.  But when your startup starts to grow you can’t – and shouldn’t – keep doing it all yourself. Once you reach 30-50 people, your goal should be to build a team and mechanisms that will do “everything” so that you, the CEO, can focus on leading and managing. The deceptively simple secret: Elite CEOs build systems. Read:  Culture and Diversity Leadership: Tale of Two Doors Hiring:  Before we dive into systems, let’s get this out of the way. Don’t worry about spending too much time on hiring. Take the time you need to surround yourself with the right people[, and don't be afraid to try people out'. Wix CEO:  "I cycled for 22 people before I found Omer Shai, my CMO. I hired and moved people to different things. I fired people. It was around 22 people that they hired within about a year and a half…When I got to Omer after a few weeks, it ...
Read More
How elite CEOs really scale - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Tristram Waye for Bitvo | Jan 26, 2023 Crypto blew up, governments cracked down, regulation forthcoming?  We are now in a place where awareness has to be exercised in places where trust was once taken for granted.  And that means embracing two principles from the Middle Ages. These are caveat emptor and the fiduciary standard.  Caveat emptor:  The word caveat emptor means buyer beware in Latin. The idea is that the buyer is responsible for assessing whatever it is that they are buying. Its origins date back to the open markets of the 16th century. In developed countries, the concept has moved from buyer to seller beware. Numerous consumer protection laws have been enacted to lift the burden from the buyer and shift it to the seller.  In general, there are numerous remedies for established consumer products. See:  How Important is KYC for crypto transactions? But for speculative, largely unregulated assets like crypto, caveat emptor is still highly relevant. Keep in mind that in contrast with venture capital, crypto secondary markets are a massive benefit. As William Janeway said about venture capital, cash and control are key elements in VC. Meaning that if the project goes sideways, you can’t sell ...
Read More
Unsplash Kenny Eliason thinking - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
FIS Release | Kim Snider | Jan 24, 2023 A global study of 2,000 executives at firms across markets revealed plans to increase investment in embedded finance, environmental, social, and governance (ESG) frameworks, and decentralized finance in 2023, including cautious optimism towards cryptocurrency. Inaugural research by FIS 2023 Global Innovation Report asked c-suite and senior executives in financial services (banks, insurers, capital markets firms, and fintechs) and non-financial businesses (retail, restaurants, travel, gaming and digital content, and technology providers) globally about their key areas of financial investment in 2023. 4% of financial services firms’ executives across the globe say they will invest significantly in developing embedded finance products in 2023 as consumers demand more convenient ways to pay, bank and invest. Nearly two-thirds (61%) of all non-financial services executives told FIS it will be strategically important to have a presence in the metaverse in the next three years. See:  Deloitte 2023 Sustainability Report: Most Organizations Have Increased Investment but Tough to Move the Needle FT Partners Jan 2023 Blockchain and Crypto Market Update Report ESG is top of mind for financial services firms globally, with 60% of executives saying they are developing new ESG products and services. Nearly one-third (29%) ...
Read More
FIS investment trends research 2023 - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Knowledge at Wharton | Angie Basiouny | Jan 17, 2023 A new book from Wharton management professor Emilie R. Feldman offers a comprehensive primer on divestitures, which can be a financial game-changer for companies that know how to execute them correctly. Feldman, whose research focuses on corporate strategy and governance, spoke to Wharton Business Daily on SiriusXM about her book, “Divestitures: Creating Value Through Strategy, Structure, and Implementation,” which was released in December. Opportunity cost: Often the idea of focus is overlooked by executives, and this is really the missed opportunity that could be pursued in the sense that divesting, removing assets and businesses that don’t fit and might be underperforming, could free up resources to pursue better opportunities in a more focused fashion after completion of those transactions. “Managerial compensation is strongly correlated with market capitalization, so there’s a financial incentive not to divest because doing so reduces the executive’s bottom line.” See:  Bill Gates Announces $20 Billion Donation and Obligation to Return His Resources to Society 4 strategies: resolving or exiting underperforming businesses; improving focus; reconfiguring and reshaping the corporate portfolio to move into more profitable opportunities; and addressing regulatory requirements. Types of divestitures:  Sales are the most ...
Read More
Divesting - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Jan 26, 2023 Thinking of buying a home for the first time but worried about the upcoming recession? With so much economic uncertainty, it's understandable that you might be a bit hesitant to make those big purchases. But don’t worry because There are many first-time homebuyer assistance programs available that will help you make your dreams of homeownership a reality - even in the most uncertain of times. Advantages Of Homeownership During a Recession It’s no secret that recessions can be tough, but did you know that homeownership during a recession can actually work in your favor? According to the US Census Bureau, the median net worth of homeowners is $195,400 higher than that of renters. This allows homeowners to weather the storm when the economy falters better than renters who rely on fluctuating rental rates for their monthly income. Additionally, homeownership offers a number of tax benefits for homeowners, including: Tax-free interest Tax deductions for mortgage interest Tax deductions for property taxes Tax deductions for mortgage insurance premiums Tax deductions for energy-efficient home improvements But one of the most important advantages of homeownership during a recession is the potential for long-term growth. Property values may decline slightly during recessions, ...
Read More
Unsplash Joshua Mayo mortgage - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Torys via Mondaq | Brigitte Goulard, Konata Lake, Marissa Daniels, Mohammed Muraj and Robin Asgari | Jan 25, 2023 Although many were hoping for the launch of the first phase of open banking in January 2023, as initially promised in the final report of the advisory committee on open banking, this date no longer appears achievable. However, progress continues to be made on open banking, with the first phase expected to launch this year. As the open banking steering committee and working groups continue their important work to create an open banking framework in Canada, the larger financial services community is preparing to integrate open banking for businesses and ultimately for consumers. See:  Open Banking Interview with Canadian Lead Abraham Tachjian Accreditation:  there was consensus that the Australian model is preferable. The Australian model allows participants to determine the adequacy of the insurance or comparable guarantee that they require by assessing factors such as the (1) nature of products or services to be provided; (2) nature of Consumer Data Right (CDR) likely to be managed; (3) volume of CDR data held; (4) financial resources; (5) scope; (6) policy limit; (7) persons covered; and (8) exclusions. The liability working group focused ...
Read More
Unsplash Tech Daily open banking 226x150 - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
OSC | Release | Jan 16, 2023 The Ontario Securities Commission (OSC) today announced a new lineup of free webinars for small and medium enterprises (SMEs). The webinars are offered through the ‘OSC SME Institute’ which helps small businesses understand and navigate the requirements of being or becoming a public company in Ontario. Overview: The new webinars provide an opportunity for issuers and their advisors to hear directly from staff with guidance to assist them in meeting their continuous disclosure reporting obligations and on various prospectus initiatives designed to reduce regulatory burden for reporting issuers. Participants will also have an opportunity to interact with staff during the Question & Answer portion of the webinar. See:  OSC Report: How Gamification Influences Retail Investors Key topics covered in the webinars will include: Non-GAAP and other financial measures disclosure Overly promotional disclosure (including greenwashing) Forward-looking information disclosure expectations Financial reporting and disclosure expectations during economic uncertainty Management Discussion and Analysis and prospectus filing common deficiencies A refresher on prospectus exemptions including new temporary exemptions. Upcoming: For full details on the webinars and to register, visit the SME Institute calendar on the OSC website. For questions related to course content and registration, please contact SMEInstitute@osc.gov.on.ca. On-demand: Archived ...
Read More
Unsplash Simon Abrams webinars 226x150 - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
NCFA Canada | Craig Asano | January 25, 2023 TORONTO, JAN 25, 2023 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Mahi Sall, Founder and CEO of FinXpair, has joined the Association`s growing Advisory Group to advise on the areas of fintech-bank partnerships, payments and financial inclusivity. Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focusing on fintech-bank partnerships and open banking/open finance, and an authorized financial investment broker. Leading NCFA Canada’s ongoing thought leadership series on open banking, Mahi has interviewed over the past 9 months 14 globally renowned open banking/finance expert practitioners from around the globe aggregating international and domestic perspectives to advance Canada’s open banking journey. Fluent in fintech-bank partnerships, he previously championed the multi-corporate fintech innovation platform Fintech Europe at Germany’s largest bank, and in 2021 contributed alongside 280+ CEOs & leaders at global financial institutions to an eBook on “Fast-tracking fintech innovation in a legacy ecosystem”. As part of building a view around fintech, he spoke about “Open Innovation” at the 2020 Frankfurt Digital Finance Conference, “The State & Disruption of Fintech in 2020” at the AsiaBerlin Summit in Berlin, “Fintech-Bank Partnerships: Why ...
Read More
Mahi Sall pic - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Costanoa | Jared Franklin | Jan 17, 2023 It’s a really exciting time in the world of insurance. As in many sectors, COVID-19 accelerated the sector’s digital transformation as many insurers stepped up to the plate and faced the unprecedented challenges the pandemic posed. Market opportunity: Insurance is BIG business, with nearly $7 trillion in gross written premiums in 2022. But what gets VCs like me even more excited: $1 trillion more of premiums should have been purchased, but weren’t. So, over the next decade, we expect consumers and companies to spend at least $80 trillion globally on insurance. That’s 40 Apple’s, the highest valued public company in the world. See:  Growing Trends: Insurtech and AI Parametric insurance:  It’s a transparent solution where the payable amount is pre-calculated, and payment is sent immediately following a triggering event. Climate change and digitization are two long-term trends that create a unique set of challenges (and opportunities) in the future. Companies must be armed with alternative approaches to traditional underwriting and coverage. Parametric insurance is flexible and precise, remaining a massive opportunity over the next decade. With parametric, a payout can take place regardless of the magnitude of physical loss, often even when ...
Read More
Parametic insurance - Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Jan 24, 2023 Gambling has been a loved pastime in Canada for many years. With land-based and online casinos catering to the country's large population of players, many Canadians have enjoyed the best gambling experience. However, they have become significantly more popular recently, leading many people to question why such a trend is surfacing. In this article, we'll look at some of the causes, including accessibility, convenience, and a larger selection of games. These are some reasons they’ve gained traction in the country. Factors That Influence The Popularity Of Casinos In Canada Virtual casinos are becoming increasingly famous due to various variables in the Great White North. And they include: Convenience It's no secret that ease of access is a major factor in their meteoric expansion in Canada. There is a broad selection of games available at online casinos. And players can play whenever and wherever it is convenient for them. A trip to a physical betting environment is unnecessary these days. Also, you can play simultaneously and enjoy a wholesome gaming experience on these online Canadian gambling platforms. This will improve your odds of winning and mastery at the games. Players with hectic schedules who can't always make it ...
Read More
Unsplash Chris Liverani casino - Crypto prices sharply down after SEC postpones Bitcoin ETF decision

 

Leave a Reply

Your email address will not be published. Required fields are marked *

twelve − 1 =