Your daily newsletter for 25 September, 2019 |
“You have your way, I have my way. As for the right way, the correct way, the only way, it does not exist.” – Friedrich Nietzsche |
Day of rekt-oning Over the last 24 hours, total market capitalization dropped a whopping ~$32.6 billion from ~$255.4 billion to ~$222.8 billion, with most coins seeing double-digit percentage losses in the ~10-20% range. Ouch! 24-hour volume registered ~$98.4 billion. BTC is currently trading at ~$8,540, down ~12.7% over yesterday. On the daily chart, RSI dropped from ~38 to ~22, indicative of strong bearish momentum. BTC also broke below its bottom Bollinger Band (-2 Standard Deviations below its SMA line). On the weekly chart, BTC broke below its 21-day EMA line, a level it managed to stay above since early April this year. |
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Pay up U.S.-based accounting company H&R Block has started serving as a middleman between cryptocurrency users and the Internal Revenue Service (IRS). This comes after the agency began sending letters to 10,000 cryptocurrency traders who might have not reported income and paid taxes. H&R has joined other leading professional services businesses that endeavor to resolve cryptocurrency auditing problems, like Big 4 company PwC and Ernst & Young. |
A streamlined solution Marsh, a prime insurance broking and risk management firm, has piloted a blockchain-based digital placement platform, the "Risk Exchange". The platform seeks to procure a more transparent and safe digital placement whilst allowing users to get real-time data and feedback on the placement and binding process. The first participants of the pilot include domestic appliance producer SharkNinja and commodity chemical business Dow Inc. that will tie U.S. trade credit policies with insurance companies AIG and Euler Hermes. |
Expanding horizons Internet-of-things (IoT) startup Helium is shipping units more extensively to 263 cities around the U.S., including key cities like New York, Houston and Atlanta. The Helium network helps IoT devices like simple sensors and pet trackers receive low-volume data to the Internet speedily at extremely low costs. Helium is still refraining from getting its tokens (HLM) onto exchanges, but anyone mining them can do what they want with them as soon as they obtain the tokens. Eventually, users will be able to sell Helium tokens to network users, albeit denominated in data credits. Founder of ReadWrite Labs and longtime IoT investor Kyle Ellicott is positive about Helium, and says that what "Helium and others are doing is it's a next step of technology being all throughout our lives". |
Blockchain term of the day - OptionA contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. There are American and European options, the former of which may be exercised at any time before expiration, and the latter exercised only at the expiration date. |
You already know you've got a ticket on us if you can make your way to Victoria Theatre in Singapore! For the guys and gals looking for a little more than free, we've got you covered. Check out our full-admission ticket, which includes free-flowing beverages so you stay #hydrated all day, fancy nibbles in the AM and PM, gourmet lunch, and exclusive access to The Capital's VIP after-party! Also, here are all our wonderful media partners who will be at The Capital to amplify and support the inaugural event. It's going to be amaaaazing! |
Other news Medici Ventures-backed agricultural startup GrainChain is seeking to unify Honduras' coffee industry. BitFlyer, one of the oldest cryptocurrency exchanges, has declared some new cryptocurrencies for its Europe and U.S. trading platforms. The U.S. House of Representatives has passed legislation for the Financial Crimes Enforcement Network (FinCEN) to study the use of blockchain.
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Crypto calendar 23 Sept - ICE's Bakkt Bitcoin Daily Futures Contract launch 29 Sept - U.S. SEC's decision on the Wilshire Phoenix's Bitcoin and Treasury Investment Trust ETF application, under the NYSE Arca exchange (initial decision) 13 Oct - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision) TBA - Justin Sun's lunch with Warren Buffett |
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