Key Facts Of The Day 27.07.2018

SEC Rejects CBOE Bitcoin ETF’s

U.S. Securities and Exchange Commission (SEC) has rejected an application by Chicago Board Options Exchange (CBOE) to list bitcoin Exchange-traded funds (ETF’s) on behalf of the Winklevoss brothers.

The regulator argued that CBOE doesn’t have the means to safeguard the marketplace from potential manipulations and perhaps, more importantly, suffers from a lack of liquidity since it was to be traded through the brothers’ Gemini cryptocurrency exchange, which SEC argued has relatively small trading volumes.

WHY IS IT IMPORTANT?

- This marks a second time an application by CBOE was rejected by the agency in just over a year. Winklevoss had earlier requested to revisit their earlier rejection after adding positive comments from the public to the case. However SEC this time argued that crypto exchanges do not possess the means to police trading nor the regulatory oversight needed

CME to Refrain From Altcoins

Terry Duffy, the chairman and CEO of CME Group, said that in his memory (and he works in futures trading for 40 years) the launch of the first cryptocurrency futures was the most debatable decision the exchange has ever made. Chicago Mercantile Exchange (CME) needs to evaluate and develop an approach to bitcoin (Bitcoin) first, Duffy explained, stressing that altcoin futures cannot be set so quickly because they are even more volatile than bitcoins and his company cannot afford to list products just to watch what happens to them.

WHY IS IT IMPORTANT?

1. In addition to bitcoin, there are many other cryptocurrencies worth trading on the exchanges. They are in no way inferior to bitcoin, and often far ahead of the first crypto, showing better results for transaction speed and, for example, offering the ability to use smart contracts

2. CME Group is not the most active player in the bitcoin futures market. At the moment, the CBOE has opened 5,881 contracts for bitcoin, for CME - 3,063. On the other hand, CME contracts open daily for 15 317 BTC. This is more than twice the amount of transactions at the CBOE.

Google Bans Mining on Android Devices

Google has published a new version of rules for Android-applications’ developers, according to which several new categories of programs fall under the ban, including applications for bitcoin mining and other cryptocurrencies. Apps that remotely manage the mining of cryptocurrency are still permitted.

WHY IS IT IMPORTANT?

1. At the moment there are many programs for mining crypto on smartphones in the Play Store, but in the near future, they will be removed. It is noteworthy that applications for managing the mining farms will remain in store.

2. Note that in April, Google removed all the extensions designed for mining crypto via Chrome browser from the Web Store.

3. In June, a similar step was taken by Apple, removing from its App Store not only applications for the cryptocurrency but also programs that offer digital currency in exchange for the execution of tasks, for example, posting publications in social networks. At the same time, the ban did not touch on applications related to cloud mining.

Mike Novogratz's Crypto Bank Records a Loss

A cryptocurrency focused merchant bank Galaxy Digital LP, founded by a former hedge fund manager Mike Novogratz, has recorded a $134 million loss during the first quarter of the year. The former hedge fund manager hopes to list shares of Galaxy Digital on Canada’s TSX Venture Exchange after his $192 million worth restructuring plan that included several mergers and acquisitions comes through.

WHY IS IT IMPORTANT?

1. Mike Novogratz aims to establish a crypto centric merchant bank that would become an active investor in blockchain ventures, engage in asset management and advisory.

2. According to disclosure, Galaxy Digital holds around $281.7 million in assets (March 31), $225.8 million of which is invested in digital assets.

KickICO Hacked for $7.7 Million

Blockchain-based platform for fundraising, KickICO has confirmed it has been hacked for $7.7 million. During the attack which took place on July 26, hackers managed to obtain access to KICK smart contracts account and therefore the KickICO token platform itself. ICO now says that all funds will be returned to their owners in full.

WHY IS IT IMPORTANT?

1. During the attack, having full access to the KickCoin smart contracts, hackers managed to destroy tokens at 40 addresses and recreate them at 40 other addresses, thus essentially stealing users' funds from 40 different accounts. The volume of the issue of KICKICO as a result of the attack was not changed.

2. KickICO claims that recent growth in the price of their coin has most likely attracted the intruders. KickCoins has tripled its price in the past 2 weeks, from 0,4 to 0,12 cents.

At 18:00 (GMT+1) total cryptocurrency market capitalization stands at $297,3 billion

Bitcoin (EXANTE: Bitcoin) $8184 (-0,30%)

Ethereum (ETH/USD) $467 (-1,82%)

XRP (XRP/USD) $0,45 (-0,67%)

Bitcoin Cash (EXANTE: Bitcoin.Cash) $818 (-1,70%)

EOS (EOS/USD) $8,38 (-2,79%)

TETHER (0,10%) showed the best growth in the top-10

PIVX (10,62%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $17,22 (+3,62 billion per day)

Mining Profitability

BTC $4,0 for 10 TH/s

ETH $0,33 for 10 MH/s

BCH $0,39 for 1 TH/s

LTC $3,7 for 1 GH/s

DASH $0,14 for 1 GH/s

Ongoing ICOs:

Expected ICOs:

Click here for the full list of ongoing ICOs.