News Stocks 

Citi earnings beat boosts stock

“Global consumer banking revenue rose 3%, the bank said, and institutional client group revenue was up 9%, but corporate revenue tumbled 55%” writes Andrea Riquier for marketwatch.com. The bank had revenue of $18.2 billion in the quarter, vs. $17.8 billion a year ago.Citigroup C, -0.32% on Thursday reported net income of $4.1 billion in the third quarter, or per-share earnings of $1.42, compared to $3.8 billion, or $1.24 per share, in the year-ago period. Source: marketwatch.com Share This:

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Crypto News 

CoinShares Announces Ethereum ETN Available on Nasdaq Stockholm

“The Ethereum ETN provides a gateway for traditional investors to invest in cryptocurrency” writes Jp Buntinx for livebitcoinnews.com. There is no indication this product will come to institutional investors in other parts of the world, though. It is evident there will be more correlations between institutional investors and cryptocurrencies. Source: livebitcoinnews.com Share This:

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News Stocks 

EU earnings caps on institutional executives will stunt mainland electronic trading industry and keep all talent in London

“One particular German institutional trading entity has today demonstrated another example of disincentivizing the leaders of its electronic trading sector, this time by implementing an earnings cap on the remuneration of its executives” reports financefeeds.com. Chicago is North America’s second largest financial center, and is the de facto futures and derivatives center for the world.London’s vast and ultra-modern interbank sector along with its institutional OTC buy side is testimony to the highly developed infrastructure and talent that operates there.Comparing that to the leaders of the most prominent venues in the…

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Crypto News 

B2Broker Kicks Off ICO Pre-Sale for Institutional Crypto Exchange, B2BX

“In particular, the token will be traded at every cryptocurrency exchange built within the turnkey cryptocurrency exchange service” reports financemagnates.com. Nothing is hotter right now than the cryptocurrency market and investors of all makes and sizes looking to be a part of it.In particular, the group’s new B2BX exchange-aggregator will aim to give brokers’ customers the access to information of listing participants and cryptocurrency trading via existing trading terminals. Source: financemagnates.com Share This:

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Brokers News 

ISPrime goes from strength to strength as London’s finest forges ahead with £9 million annual profit

“The prime of prime brokerage sector is a very protracted business these days” reports financefeeds.com. Speaking today with regard to the commercial success of ISPrime, Jonathan Brewer, Managing Partner at IS Prime commented “We are very proud of this fantastic achievement which we believe cements our position as a global market leader in the Prime of Prime industry.It is, therefore, extremely rare to experience an entry to the OTC derivatives sector by a newly established prime of prime brokerage, with genuine relationships with Tier 1 banks that can distribute live and…

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Crypto News 

Bitcoin Price to Reach $6,000 in 2018, Predicts Wall Street Strategist

“However, Wall Street strategist Tom Lee believes that the long-term prospects of the bitcoin price remain quite promising” writes unknown author for cryptocoinsnews.com. The bitcoin price pulled back from its all-time high this weekend, weighed down by a bitcoin cash price surge and disagreements over the SegWit2x scaling proposal.He adds that even central banks may begin acquiring bitcoin if it reaches a market cap of $500 billion, which will happen if the bitcoin price reaches about $30,000.Sheba Jafari, a chief technical analyst at Goldman Sachs, believes the bitcoin price will…

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Crypto News 

Wall Street strategist Tom Lee sees bitcoin surging to $6,000 next year, $25,000 by 2022

“We see bitcoin as gaining from institutional sponsorship, improving transaction platforms and ultimately, greater public adoption,” Lee added” writes Adam Jeffery for cnbc.com. Lee was the first major Wall Street strategist to come out with research on the cryptocurrency.Tom Lee, co-founder of Fundstrat Global Advisors, established a mid-2018 target of $6,000 on the cryptocurrency.Last month, he said bitcoin could be worth up to $55,000 by 2022, adding that cryptocurrencies are “cannibalizing demand for gold.”. This “implies significant rise [in] institutional holdings of Bitcoin in next 6-8 months given recent approvals,”…

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Crypto News 

Institutional Investors Push Bitcoin Price to New Highs, Drastic Rise in Liquidity

“The demand from institutional investors and multi-billion dollar investment firms toward bitcoin will continue to rise at an exponential rate if necessary infrastructures can be established by leading bitcoin and financial service providers” writes Joseph Is A for newsbtc.com. Ari Paul, the chief information officer and managing partner of BlockTower Capital, believes liquidity for institutional investors and professional traders within the bitcoin and cryptocurrency markets will drastically increase in the upcoming months.Recently, Coinbase, the largest bitcoin wallet and trading platform in the world, raised $100 million at a $1.6 billion…

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Crypto News 

Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold

“The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year” writes Evelyn Cheng for cnbc.com. Analysts have also noted increased investor interest, especially from institutional investors, after bitcoin successfully survived an Aug. 1 split into bitcoin and bitcoin cash.US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare.Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according…

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Crypto News 

Goldman Sachs: Cryptocurrencies Getting ‘Harder to Ignore’

“Now, Goldman Sachs is counseling institutional investors to give cryptocurrency a closer look” writes unknown author for cryptocoinsnews.com. Mainstream financial institutions such as Goldman Sachs are finally beginning to realize what forward-thinking venture capitalists have known for years: investors need to pay attention to the cryptocurrency ecosystem.One hurdle institutional investors must overcome is the uncertain regulatory environment.Boroujerdi says that whether or not one believes cryptocurrencies have merit, “real dollars are at work” in the cryptocurrency space and warrant attention from investors. Source: cryptocoinsnews.com Share This:

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