Source for BlockChain News

Monthly archive

August 2017

Bitcoin Extends Decline as Altcoins Stabilize Following This Week’s Slump

by
Bitcoin

Bitcoin

On Tuesday, crypto markets slumped, but since then, various altcoins have staged a recovery. However, Bitcoin extended its decline and has now dropped 6% in the past 24 hours.

Altcoins Show Signs of Recovery

This slowed down the massive losses witnessed the previous day when the world’s most traded digital asset plunged 17%. Other coins such as EOS and Ether racked some modest gains with EOS, which plunged 28% on Tuesday, advancing 3.8%.

Investors have associated the Tuesday plunge with the lackluster launch of Bakkt futures contract and the broad risk-off atmosphere in the traditional assets. On Tuesday, Bakkt managed to issue around 113 one-day contracts.

Travis Kling, the founder of cryptocurrency hedge fund Ikigai, indicated that when the launch of Bakkt futures contracts displayed underwhelming attention on its first trading day, it opened a hatch. As a result, the bottom fell out of the crypto market.

At the time of writing, Bitcoin is down 5.30% at $7,946.

What’s Next for Bitcoin?

Crypto exchange Luno’s business development head Vijay Ayyar indicates that there is a possibility of Bitcoin hitting a bottom of around $7,500 in the near-terms before the end of 2019. This is an expected consolidation owing to the strong rally that the coin has demonstrated this year.

Arca Chief Investment Officer, Jeff Dorman, indicates that Bitcoin’s price action is currently driven by near-term technical analysis. Therefore, every low price that the coin has leaped from, and every high price BTC has attained has turned out to be resistance. Dorman added that since the cryptocurrency industry is still full of short-term focused investors, the telegraphed narratives are often self-fulfilling insights.

>> Is the Launch of Bakkt to Blame for Bitcoin’s Price Drop?

The Tuesday slump means that BTC closed lower than its 100-day moving average for the first time in almost six months. From April through June, Bitcoin went parabolic with a bull run that took the price to $13,852. In the past few weeks, the coin has been hovering at the $10,000 level.

According to Galaxy Digital, before the selloff, BTC/USD open interest on leading exchanges was around $1 billion, but following the selloff, around $500 million of the positions got liquidated.

Featured image: DepositPhotos © nils.ackermann.gmail.com

If You Liked This Article Click To Share

Ripple Boosts Regulatory Focus With Opening of DC Office

by
Ripple

Ripple

Ripple has increased its focus on regulatory advocacy for cryptocurrency by opening an office in Washington DC with a dedicated regulatory team.

With regulatory attitudes towards cryptocurrencies becoming a focal point of conversation, particularly as the controversy around Libra dominates headlines, Ripple has decided to take a proactive step in the matter. It has become the first major blockchain company to launch a division specifically dedicated to educating lawmakers on the benefits of blockchain technology, with four team members moving into the new premises in the US capital.

Ripple has added Craig Phillips, Michelle Bond, Ron Hammond, and Susan Friedman to its global regulatory team. Phillips, who will advise the company on strategic regulatory opportunities, joins from the US Treasury Department where he served as Counselor to the Secretary. Bond previously worked as the head of global regulatory affairs and public policy at Bloomberg and Senior Counsel at the SEC. Friedman previously held a senior advisory role at the SEC, while Hammond served as a Legislative Assistant to Representative Warren Davidson.

“Every federal regulator is looking at this space and trying to figure out how to regulate it, and having a DC presence is essential to smart and effective regulation. We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times,” said Brad Garlinghouse, CEO of Ripple.

>> Facebook’s Libra May Cause Banks to Cut Financing to the Company

As well as the opening of a new DC office, Ripple has also announced that it will join the Blockchain Association, an industry body that advocates for blockchain technology and sets out to build relationships between crypto firms and governmental regulators. Michelle Bond, who is assuming the role of  Ripple’s Global Head of Government Relations and will lead the DC office, will also take a seat on the association’s board.

Featured Image: DepositPhotos © svetas

If You Liked This Article Click To Share

The Libra Association Gets a New Member in Shopify

by
Libra

Libra

The Libra Association has signed up Canadian e-commerce platform Shopify as its newest member as the troubled crypto project looks to get back on track.

Libra has lost several founding members in recent months for a variety of reasons, the most prominent of which was the massive amount of scrutiny leveled at the project. The association was originally made up of 27 founding members; however, several early backers such as Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA) all jumped ship before the founding charter was signed, leaving just 21 members.

Vodafone was the most recent firm to quit The Libra Association, although for a different reason. The British telecom giant said it intends to dedicate resources previously allocated for the project to its own well-established digital payment service M-Pesa, which it plans to expand beyond the six African nations currently served.

In a rare piece of good news for Libra, Shopify said it is linking up with the venture to “work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere.” The e-commerce platform has around 1 million businesses from 175 countries on its books and will join other Libra Association members in contributing at least US$10 million and operating a node that processes transactions for Libra, and will also leverage its expertise in managing payment networks.

>> Whale Transfers 31.30 Million Ripple (XRP) to Bitstamp

Following the news that Shopify would join the Libra Association, Libra’s head of policy and communications Dante Disparte said the group was “proud” to welcome its newest member and talked up the troubled initiative. “Shopify joins an active group of Libra Association members committed to achieving a safe, transparent, and consumer-friendly implementation of a global payment system that breaks down financial barriers for billions of people,” Disparte said.

Libra is slated to launch in June of this year despite the huge amount of pushback against the project.

Featured Image: DepositPhotos © poringdown@gmail.com

If You Liked This Article Click To Share

Victory Square Adds Three New Advisory Members

by

  • Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
  • VST portfolio consists of 20 global companies using artificial intelligence (AI), blockchain, virtual and augmented reality (VR/AR) to disrupt sectors as diverse as fin-tech, insurance, health, and gaming.

VANCOUVER, British Columbia, July 25, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST)(FWB: 6F6)(OTC:VSQTF)  is very excited to announce that Darin Recchi, Carey Dillen, and Tasi Gottschlag have joined VST’s advisory team, making the Victory Square team even stronger and providing strategic support to portfolio companies.

VST’s advisors include professionals with deep experience in growth, operation, finance and legal. They provide operational and growth support to portfolio companies and help them with commercialization and building scalable businesses.

“We are thrilled with the addition of three new distinguished and highly experienced advisors to help us improve the competitive positions of our portfolio companies and unlock value-creating opportunities,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.

“Strengthened with these new appointments, our team continues its deep support for select portfolio companies to maximize their growth and accelerate their path to commercialization with well-executed scalable business models ultimately realizing their potential for creating superior shareholder value,” Tejani added.

Joining the current advisory team are the following three experienced individuals:

Carey Dillen

With 20+ years of experience spanning startup to rapid growth environments, Carey harnesses an entrepreneurial drive, strategic mind and strong vision to grow people, profits and purpose. Carey has experience working with well-established organizations to dynamic startups and has contributed extensively to health, wellness, and sports communities locally, nationally and internationally.

Carey is highly experienced in strategy development, operational efficiency, financial management, people development and franchising in both private and publicly listed companies. Carey’s experience in leading teams includes developing the infrastructure to scale for rapid growth from $1 million to $1 billion.

As President of YYOGA and YYOGA at Home (on-demand digital business), she leads the development, growth, and strategy for the company. Initially growing through M&A with other yoga studios in Vancouver, YYOGA’s community has grown to 12 locations within BC and Ontario. Previously, as the VP of Finance for the Vancouver 2010 Olympic Games, Carey was instrumental in the startup, growth, and dissolution of the organization; she also acted as an advisor to London 2012 and Sochi 2014 Olympic Games. In addition, she has held senior leadership positions with some of Canada’s top brands like Boston Pizza, MEC and KPMG.

Giving back to her community is a central part of Carey’s life. She has been an advisor and board member for nonprofit and high-profile organizations like 2016 Americas Masters Games, 2015 FIFA Women’s World Cup, Sport BC, BC Athletics, and SBC Insurance Ltd.

Carey has a Bachelor of Commerce, a CA-CPA designation and is a member of YPO. In addition, she was recently nominated for YWCA’s Women of Distinction in the business and professions category.

Darin Recchi

A software sales and growth leader with over 20 years experience with high performing sales teams in established through to startup size organizations, Darin has lived in San Francisco, Vancouver and Denver and had the benefit of growing & leading teams in different markets.

Currently leading Sales Enablement & Talent Initiatives at Thoughtexchange, a solution providing online engagement software and has raised $18 million to date. Darin grew his career and held senior sales leadership roles at SAP/Business Objects (previously Vancouver-based Crystal Decisions), Adobe, NetSuite, Allocadia, and PerfectMind, growing and leading sales, renewals & channel organizations responsible for $100s of millions in revenue.

Darin continues to help startups down the path to finding the right people, product, and market fit by helping them focus on execution, the right go-to-market strategy for their size and growth and avoiding many of the pitfalls he’s come across in his experience.

In recent years he brought his experience to volunteer roles and board positions related to high tech at KAST and as a founder of Smart Kootenays, as well as sports leagues his children are involved in.

Tasi Gottschlag

A serial tech entrepreneur with over 12 years experience, Gottschlag is the COO of Keela, an impact technology company committed to building specialized solutions for the nonprofit sector.

Previously the CFO of Voxter Communications, which was acquired in 2018 by Ooma, the #1 ranked free internet phone service among VoIP phone providers. Tasi is part of the leadership team that grew Voxter Communications by 20X.

Tasi is highly experienced in operational efficiency and proficiency, financial management and decision making, people and culture, and navigating the IPO and RTO process.

She gives back to the startup community through her role as an Entrepreneur in Residence at League of Innovators (LOI) a national Canadian charity with a goal of building entrepreneurial acumen for youth, at scale.

In a recent corporate update, VST’s select portfolio companies showed strong performance and achieved significant milestones in terms of revenue growth, product development, and customer acquisition.

Check out VictorySquare.com and sign up to VST’s official newsletter at VictorySquare.com.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

We’re not an accelerator. We’re not an incubator. We’re venture-builders.

Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.

VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using blockchain, AR/VR, and AI to disrupt sectors as diverse as fintech, insurance, health and gaming.

What we do differently for startups

VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale, monetize and be ready for public listing or private sale.

What we do differently for investors

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF). For investors, we offer early-stage access to the next unicorns before they’re unicorns.

Our portfolio represents a uniquely liquid and secure way for institutional investors to double down on the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.

FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to the completion of the acquisition of an interest in Limitless Blockchain and the timing, cost and terms thereof, the impact of the acquisition on the Company, the strategic direction of the Company, and its goal of broadening its portfolio of interests in innovative companies. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Please visit the company’s website at VictorySquare.com. For a free report on Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) visit cryptocurrencynews.com.

Please See Disclaimer

Go to Top