Tim Draper, the billionaire investor left the stock for bitcoin 6 months ago

Tim Draper now holds “a lot” of his portfolio in bitcoin (BTC) after he moved his stock out of the public stock markets six months ago.

Speaking to CNBC on February 24, the VC investor and serial bitcoin proposer revealed that he had significantly added to his crypto holdings since last year.

Draper: “Uber drivers were business of the day”
“This is a lot, a lot, a lot,” he replied when looking at how far his faith in bitcoin grew.

“I’m just a believer – and I look up and I say, ‘Hey, this is just better. Long-term, people move towards things that are better.”

Draper was speaking in his distinctive bitcoin logo tie as concerns over coronoviruses led to a fall in stock markets around the world.

Continuing, he confirmed that exposure to the crisis was limited due to previous concerns that stocks were too “weak”.

“It became very frightening – the market got very excited and Uber drivers were doing day trading, all the signs were there,” he said.

Draper said that his VC firm, Draper Associates, was still active in the private markets. His other major crypto investment, Tezos (XTZ), has more than doubled since the beginning of the year.

Buffett rejects crypto criticism
Several other comments were already known to Bitcoin supporters, including the $ 250,000 price target, which Draper now thinks will come by 2022.

During that time, the health of investments such as banks and insurers will dramatically worsen, he warned, disagreeing with the first Berkshire Hathaway chairman, Warren Buffett, on Monday about remarks about bitcoin.

“Of course he’s worried,” Draper retaliated.

In his latest anti-bitcoin dietribe, Buffett claimed that cryptocurrency en messages were not productive investments.

“Cryptocurrencies basically have no value and they do not produce anything,” he told CNBC.

“So you can look at your small producers for the next twenty years and say that you’ve got an X of this cryptocurrency or that – it doesn’t reproduce, it doesn’t deliver, it doesn’t mail you a check Could. ” It cannot do anything. And what do you expect someone else to come with you and give you more money for it. “

As Cointelegraph pointed out, BTC / USD remains the star investment of 2020, with year over year growth exceeding 40% at one point.

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The new blockchain forensic tool developed through French-Austrian cooperation

The French cyber security company Nigma Concil and the Austrian Institute of Technology (AIT) have collaborated on developing a new blockchain forensic tool. The agreement was signed on 25 February to work on the proposed compliance device, E-Nigma.

E-Nigma provides its users with a way to conduct appropriate investigations in response to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Like other similar devices, this blockchain monitors and organizes transactions.

The platform offers many advanced features such as risk scoring and wallet clustering. It is capable of identifying real-life identified addresses by scraping through both the clear and dark web.

It is provided by AIT, GraphSense on the open source cryptocurrency forensic platform. AIT is a government-owned research institute headquartered in Vienna.

The technology was created as part of an AIT-led program called TITANIUM, designed to investigate transactions in “underground markets”. The program was awarded a grant of 5 million euros ($ 5.4 million) by the European Union to reduce cryptocurrency crime.

NIBMA Conseil CEO Fabin Taberly commented on the collaboration:

“The synergy between a leading European academic research institute and our team of developers has been instrumental in implementing the most innovative tools to fight financial crime in virtual currencies.”

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E-Nigma is operating in a competitive field, with similar solutions being provided by companies such as Chainalysis, Elliptic and CipherTrace.

As money laundering regulations around the world become more stringent, many companies in the cryptocurrency and traditional finance sectors are turning to blockchain forensic tools.

Chainalysis recently announced its collaboration with both Bitfinex and Tether, helping provide service and maintain compliance.

Elliptic has focused its attention on banks, with a compliance tool to help them understand the true risk from cryptocurrency exchange transactions.

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Singapore Appeal Court Rejects Quoin Appeal in Landmark Crypto Ruling

Singapore Appeals Court Rejects Quoin Appeal in Landmark Crypto RulingNEWS
In the country’s first legal dispute involving cryptocurrency, the Singapore Court of Appeals has ruled that virtual currency exchange Quoine must pay damages to electronic market maker B2C2. The losses are for seven transactions that were incorrectly reversed on the platform during April 2017.

According to The Straits Times on 24 February, the court rejected Koin’s appeal, with the exchange arguing that it was entitled to unilaterally cancel the orders due to such a mistake.

The exchange argued that the parties fulfilling the B2C2 order of selling ether (ETH) for bitcoin (BTC) at a price of 10 BTC per ETH, presumed that their orders would be up to 250 times above market value. Were executed at the current market price. It further claimed that B2C2 was aware of this mistake.

In the February 24 ruling, four of the five judges of the Court of Appeal rejected Quain’s appeal, with Chief Justice Sundaresh Menon, Appeals Judge Andrew Fang and Judith Prakash, and International Judge Robert French saying there was no mistake. Trading contract executed on the platform. Judge Jonathan Mains was the only assistant dissenting on the case.

B2C sells 309 ETH for 3,092 BTC during 2 April 2017
The court found that both B2C2 and Quoin were operating complex automated trading systems to execute high volumes of trades on the Coin Exchange. It was further revealed that these systems tried to exploit the spread between cryptocurrency prices across multiple exchanges.

Facing a lack of sufficient market data, B2C2’s intermediary bot will return to a “deep price” of 10 BTC per ETH. During April 2017, a bug in Quoine’s software resulted in a deeper price for B2C2, before seven orders were completed on April 19, 2017, with B2C2 being sold for about 309 ETH for 3,092 BTC.

Shortly thereafter, Quoine deducted 3,085 BTC from B2C2’s account.

Quoine ordered damages to B2C2
While the Singapore International Commercial Court (SICC) ruled that Quinn would have to pay B2C2 damages approximately 12 months before, the parties were unable to come to a consensus about the sum to be repaid.

The SICC did not decide that the quoin would have to return 3,085 BTC to the market maker, with Judge Simon Thorley stating that current bitcoin prices were “significantly higher than the price in April 2017 when the trades were executed.”

Additionally, B2C2 sold about one-third of BTC before trades were reversed, with the automated trading bot loading coins into nine different exchanges. Thus, a SICC judge determined that an order granting a specific amount of money to repay B2C2 would “” give Quoine sufficient difficulty, which does not extend beyond any potential difficulty in assessing the loss. “

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The crypto-friendly banking app is now one of Europe’s most valuable fintechs

United Kingdom-based digital bank Revolut has raised $ 500 million in a new funding round and its valuation has reached $ 5.5 billion. As reported by the Financial Times on February 25, the crypto-supporting app makes it one of Europe’s most valuable financial firms.

Since late 2017, Revolut’s app has enabled its users to complete transactions in cryptocurrencies involving Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and XRP.

In December 2018, the firm obtained a banking license in Lithuania, paving the way for a transition away from prepaid cards, offering a fuller suite of banking services.

The valuation is at par with the preceding record for European fintech
The new funding round was led by Silicon Valley Venture Capital Group TCV, which invests in key tech players such as Facebook, AirBnB, TripAdvisor, LinkedIn and Spotify.

TCV’s $ 5.5 billion reverse revival in 2019 is equivalent to the previous record set by Karlna of Sweden, a private European fintech.

In 2018, the firm was valued at $ 1.7 billion in the initial Facebook and Spotify backer DST Global-led funding round.

Revolut – which has a user base of over 10 million – saw more than 150% customer growth last year. With its cryptocurrency and stock trading facilities, the firm is looking to expand into lending services and the U.K. Banking is pursuing license.

U.K. Disruptors are proving to be a very lucrative market for banks – sometimes dubbed “Nobank” – with users increasing from 7.7 million to 19.6 million last year, up from yesterday.According to a report released by Accenture.

The first half of 2020 could also mark the beginning of the Herald’s launch in the United States should the company manage to overcome regulatory hurdles. It is also expanding into Latin American and Asian markets.

Neobank and cryptocurrency banks gain traction
As recently reported, Mark Hipperson, co-founder of UK-based Neobank Starling, plans to launch Jigloo, a new banking venture in Q1 2020. The bank will offer balances in multiple currencies – both fiat and cryptocurrency – in an account held together, which can be spent globally using a MasterCard debit card.

Hybrids continue to develop combining legacy banking services and cryptocurrency transaction facilities. This week Coinbase announced its membership membership of Visa and crypto-dedicated banks such as SEBA and Syngam of Switzerland, with their services continuing to diversify.

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Germany’s second largest exchange boost Stuttgart listed short bitcoin ETP

Germany’s second largest exchange boost Stuttgart listed short bitcoin ETP
Investors looking for bitcoin (BTC) have a new option in Germany. On February 25, Boerse Stuttgart – the country’s second-largest stock exchange – announced the listing of an exchange-traded product (ETP), in contrast to the price swings of cryptocurrencies.

Hedge against all scenarios
The inverse ETP is issued by the crypto fund manager, formerly known as Aman. Whenever the price of bitcoin falls, the product offers investors a positive return – daily management fee.

Already listed on the SIX Swiss Exchange, Switzerland’s leading stock exchange, 21Shares Short Bitcoin ETP (SBTC) will reach an even wider investor base through Butcher Stuttgart, which reported trading volumes of EUR 68.5 billion last year. .

21Shares CEO Honey Rashawan has claimed that “investors in Germany have demonstrated strong support for prior crypto offerings” and the firm is responding cautiously, however, to this strong demand.

SBTC, which trades in Euros, is fully hedged 1: 1 with this underlying asset and has been issued the WKN German Securities Identification Code (WKN: A2781V).

21Shares has actually designed a suite of derivatives tracking Bitcoin (BTC), Ether (ETH), XRP, Binance Coin (BNB) and Tezos (XTZ) as well as a basket of currencies.

21Shares also confirmed today that its PD3 prospectus regulation for existing ETPs governed under Swiss law was approved by the Swedish Financial Supervisory Authority.

In a statement, 21Shares managing director said the approval represents a milestone for traditional investors and the crypto community, opening up crypto-based ETP products to both retail and institutional customers in Germany and throughout Europe.

In a previous interview with Cointelegraph, CEO Honey Rushwan pointed to the “massive” demand for crypto derivatives, yet noted that many products that exist today remain in the form of options / futures. And “Mostly Are built out of unregulated geographies. “

This situation, he argues, both to close institutional investors and as a result of such complex and management-intensive products, also turns retail investors away.

Past offerings
Last year, 21Shares – better known as Amun – partnered with Bitwise, a crypto asset manager on another multi-crypto-based ETP that tracks the performance of 10 cryptos, also listing on the SIX Swiss Exchange. for.

Boerse Stuttgart has partnered with the first European digital publication Titan Excel Springer and Finanzen.net to launch a blockchain-driven trading site that previously had a zero-fee crypto trading app.

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Blockchain calls Warren Buffet a crypto gift, Justin Sun

Warren Buffett recently said that he does not own any cryptocurrency, but Tron (TRX) founder Justin Sun is different.

Speaking to CNBC reporter Becky Quick on February 24, billionaire Buffett said he did not own crypto and lacked its purpose.

“I do not own any cryptocurrency. I never […] You can’t do anything except sell it to someone else. “

However, on February 25, Sun stated in a tweet that he had gifted cryptocurrency to Buffett and that the blogKuchen data proves that billionaire did not transfer his gift of crypto assets:

“Cryptos $ BTC / $ TRX Mr. Buffett has intact w / #blockchain evidence that is the beauty of blockchain.”

The Sun also acknowledged that, while Buffett owns “cryptocurrency”, he would not define Buffett as a crypto investor. Sun said that they have already increased the value of Bitcoin (BTC) and Tron by 20%.

Buffett made a gift at his famous charity lunch, which Ravi won at auction last year. The two met at a private not-for-profit country club in Nebraska with other cryptocurrencies including Charlie Lee, founder of the Litoin Foundation, and Chris Lee, CFO of major cryptocurrency exchange Huby.

Financial heavyweight criticizes crypto for illegal connections
Warren justified his lack of interest in cryptocurrency by saying that they are of no value and that “bitcoin has been used to illegally roam reasonable amounts.” He is not the first member of the world’s financial elite to express disinterest in cryptocurrency due to its alleged proliferation in illegal activities.

For example, in February 2018, Bill Gates stated that cryptocurrency was “a rare technology that has directly caused death,” referring to drug-related deaths.

Billionaire Mark Cuban, like Buffett, sees bitcoin as valueless. He said at the end of September that he would be “instead of bananas” compared to bitcoin, as he could at least eat them.

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Coincheck is available for trading soon

Coincheck Announces Qtum Soon Available for TradingNEWS
Japan may be on its way to creating a state-issued digital currency, but local companies in the world’s third-largest economy can still provide some healthy competition.

Coincheck, a crypto exchange based in the Asian nation, currently handles trading, sales and purchases for eleven cryptocurrencies. They announced on 25 February that they were planning to add one more to the mix. The cryptocurrency Qtum (QTUM) will soon be the 12th available for trading on the exchange.

How will Qtum differ from existing Coincheck cryptocurrencies?
As with other cryptocurrencies of the exchange, Coincheck will allow its users to send, receive, buy and sell Qtum.

However, they will also be able to use Qtum for Quantec’s lending service. Under the existing service, users can give their cryptocurrency to the exchange by agreeing to a loan contract agreement. Once this contract expires, Coincheck will return cryptocurrency with an annual percentage rate above it. The exchange claims an annual interest r ate of up to 5%.

Qtum is a blockchain platform established in December 2016. They are working with both Google and Amazon to develop their Dapps platform. As of February 25, a release date for the cryptocurrency has not been set.

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