Crypto News 

Poll: 63 Percent of Senior Execs Lack Understanding of Blockchain Tech

“In a survey of institutional investors by the Global Blockchain Business Council (GBBC), 63 percent of respondents believe that senior business executives have a poor understanding of blockchain technology” writes Ana Berman for cointelegraph.com. The participants of the survey also named digital identity and healthcare as fields which will be significantly impacted by blockchain technology.As Cointelegraph previously reported, some high-profile crypto bulls expect institutional demand for cryptocurrencies to drive the industry forward in 2019. Insiders told Bloomberg that Goldman Sachs, Morgan Stanley, and Citigroup gave up their crypto plans until…

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Markets News 

Ross Newell Joins CMC Markets’ Institutional Business Division

“Finance Magnates learned this Friday that Ross Newell will be joining the institutional sales team at CMC Markets (CMC)” writes David Kimberley for financemagnates.com. He joins CMC from Australian broker AETOS Capital where he was Head of AETOS Director, the firm’s institutional business division.Working on both the retail and institutional side of the business, he was responsible for bringing in the broker’s first institutional clients. Source: financemagnates.com

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News 

BitGo Partners with Genesis to Enable High-Frequency Trading

“Under the agreement, institutional clients who store their digital assets with BitGo can now trade their crypto without having to move it onto an exchange” writes Celeste Skinner for financemagnates.com. As part of the collaboration, Genesis will execute the trades on behalf of BitGo’s clients, without the need for them to open an account with the trading provider. We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition,” added Michael Moro, the CEO, Genesis.BitGo,…

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News 

OTCXN Adds Australian Exchange to its List of Institutional Clients

“Sydney-based cryptocurrency exchange Independent Reserve has joined San Francisco-based blockchain-powered capital markets infrastructure company OTCXN, according to an official statement by the company” writes Rachel Mcintosh for financemagnates.com. Independent Reserve is the first cryptocurrency exchange to “go live” on OTCXN’s network, according to the announcement, which also described Independent Reserve as the first-regulated and largest cryptocurrency exchange in Australia and New Zealand.Clients on LiquiMatch will have the ability to trade with the liquidity on all of OTCXN’s trading platforms (including its OTC Block Trading service) through one account on their…

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Markets News 

Circle Executed $24 Billion in OTC Trades in 2018

“Investment is growing in OTC funds like that offered by Coinbase, which launched OTC trading for institutional customers in November 2018” writes Aaron Wood for cointelegraph.com. The over-the-counter (OTC) trading desk at cryptocurrency finance firm Circle had a notional volume of $24 billion in 2018, according to an official Medium blog post on Jan. 3. In November 2018, MV Index Solutions launched its Bitcoin index based on three major OTC desks in November.OTC trading services in digital assets are a particular draw for institutional investors, who are increasingly using the…

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Crypto News Stocks 

2019 Will See Entry of More Institutional Players in Crypto, Says Asia Fintech PwC Leader

“Henri Arslanian, the Asia fintech and crypto leader of PricewaterhouseCoopers (PwC) Hong Kong, has predicted that many institutional players will enter the crypto industry in 2019” writes Adrian Zmudzinski for cointelegraph.com. This involvement, he explains, will bring in “institutional level expertise” which — according to him — is much needed in the industry.Arslanian also declared that he expects “many more big banks” to enter the space, some by launching their own solutions, others by partnering with or investing in crypto companies.As Cointelegraph reported earlier this month, Nasdaq — the world’s…

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Crypto News 

Bitcoin’s Descent Causes Wall Street to Hold Off on Crypto

“At press time, bitcoin is still over $4,000, though it appears Wall Street has lost all hope in the crypto asset” writes Nick Marinoff for livebitcoinnews.com. Goldman Sachs, for instance, released plans early this year to construct a bitcoin trading desk from the ground up.Some analysts say that this was an unrealistic goal, and that Goldman Sachs merely got lost in the crypto craze.At first glance, the ecosystem appears negative, though some analysts claim institutional players are waiting for the right moment(s) to jump back in.An anonymous source allegedly familiar…

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Crypto Markets News 

Galaxy Digital Trading: Current Rally Could Be Leading to Something Bigger

“Galaxy Digital founder Mike Novogratz recently expressed optimism about the leading cryptocurrency Bitcoin, saying that he did not expect the price to continue falling much further” writes Helen Partz for cointelegraph.com. The note reads: Specifically, the note cited two significant upcoming events in the crypto industry — the forthcoming launches of Fidelity’s crypto custodial and trading service and digital assets platform Bakkt.The United States-based investment firm Fidelity announced the launch of a trading service targeting institutional investors in October 2018.In a note entitled “Why this rally could end up lasting…

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Crypto Markets News 

Insurers Are Keeping the Crypto Industry Down, Report Says

“Cryptocurrency traders and exchanges in Asia are facing a new setback from the insurance companies, according to a Reuters report” writes Arnab Shome for financemagnates.com. Though based on some of the sophisticated technology, the cryptocurrency industry has endured some of the largest thefts in the last couple of years.However, the insurance companies are projecting a different picture.A survey conducted by Greenwich Associates in September shows 72 percent institutional investors are optimistic about the cryptocurrency market and showed their interest to invest in the digital assets.Custodial challenges are also keeping the…

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Crypto News 

Crypto Insurance Will Solve Many Issues, but It’s Hard to Obtain

“Many of these exchanges say that the lack of insurance in the crypto space is preventing institutional investors from getting involved” writes Nick Marinoff for livebitcoinnews.com. Insuring losses against extremely volatile assets would likely cause insurance companies to be shelling out payments daily.Cryptocurrency lawyer Hoi Tak Leung comments: So far, the introduction of reliable insurance policies to the crypto space has been slow.Eventually, the insurance firms would run out of money and things would be no different. Source: livebitcoinnews.com

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