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The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

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General Market Outlook

General Market Outlook
 
The big two, BTC and ETH are both down slightly, less than 3% in the past 24 hours, but have been consolidating into smaller trading rangers over the past few days. The possible Consensus conference uptick doesn’t look promising at this time, as most altcoins are also down. Overall most traders are keeping the long-term vision in mind. Big name companies, investment firms and entrepreneurs are constantly making headlines with bullish sentiment in the long-term.
 
 

Major Headlines
 
World’s 5th Largest Bank Launching Cryptocurrency
Japan based Mitsubishi UFJ Financial Group accounts for an asset total of $2.5 trillion. They have been developing the cryptocurrency concept since last year. It will function through a mobile app, but it is not clear if it will be a true cryptocurrency, something like XRP or a kind of stable coin linked to Japanese Yen. With the initial launch, 100,000 customers will take part. Blockchain and cryptocurrencies are money savers for major financial institutions. To increase adoption the bank is considering tie-ups for businesses to promote their acceptance of MUFG coins.
 
FedEx CEO Bullish on Blockchain
CEO of Fedex Fred Smith spoke yesterday at the Coindesk Consensus conference. He was wholly focused on implementation of blockchain technology to revolutionize they way their company does business - "For cross-border shipments, 'trust' is legal requirement for every transaction. What blockchain has is a potential for the first time ever to make the information available for everybody."
 
Their CIO explained the most pressing application of the technology for Fedex - "We move easily 12 million shipments a day and that more than doubles during the peak seasons. While we absolutely believe this technology is going to scale, right now it makes sense for us to do this in our freight world.”
 
Wyoming Trying To Lure Tech Money
Wyoming has passed a bill to become radically inviting to blockchain and cryptocurrency companies. They now allow “open blockchain tokens as an asset class, and exempts cryptocurrency, taxed by the IRS as physical property, from state property taxes.” The rep responsible for the push is working with lawmakers from other states as well. They formed a blockchain task force and invited the SEC to come to their next meeting later this month. He’s helping organize an event on May 15 to demonstrate how blockchain technology can help agriculture as well. One investor has already moved one of his companies - “It’s cheaper and easier from a corporate filing perspective, Wyoming is proving that it’s being pro-business and anti-bureaucracy.”
 
Top 5 Gainers
 
ReeCoin (REE) +472.84% at $0.000509
PeepCoin (PCN) +62.35% at $0.000362
AMLT Token (AMLT) +44.24% at $0.061463
CyberVein (CVT) +39.56% at $0.078404
B2BX (B2B) +37.36% at $0.868836
 
 
Top 5 Losers
 
TerraNova (TER) -46.95% at $5.81
Pundi X (NPXS) -33.46% at $0.009358
CropCoin (CROP) -31.46% at $0.091428
BelugaPay (BBI) -31.06% at $0.266199
1World (1WO) -25.56% at $0.281171
 
New Coins Listed
 
EtherZero (ETZ) listed to Cryptopia
Matrix AI Network (MAN) listed to KuCoin
OPEN Platform (OPEN) listed to IDEX
Real Property Token (RPT) listed to IDEX
SilentNotary (SNTR) listed to IDEX

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