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Cryptocurrency Morning Brief

May 21, 2018

  • LMAX Exchange Group is setting up the first cryptocurrency exchange for institutional clients. The group will focus on liquid established cryptocurrencies which include: Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). The LMAX Digital platform will focus on offering a full custodian solution. Trades are expected to be completed within milliseconds.
  • Former OKEx cryptocurrency exchange CEO, Chris Lee, is now joining rival cryptocurrency exchange Huobi. In a public note, Lee suggested that OKCoin has experienced notable turnover in senior executives over the past few years which may have affected his decision. Lee will be Huobi’s head of global mergers and acquisitions strategy and will supervise international development as the exchange expands.
  • Nearly 40% of all Chinese blockchain startups emerged in 2017, according to China’s Ministry of Industry and Information Technology. The report highlighted that China currently has 456 startups focused on blockchain technology development as part of their core business. According to government data, there are 249 equity fi nuancing initiatives that are directly related to blockchain startups, and 100 of the firms were started in 2017.
  • Japan Cryptocurrency exchange Coincheck will delist Monero and three other privacy coins from Coincheck, one of the country’s most popular exchanges. Japan’s Financial Services Agency (FSA) believes that users have too much anonymity with these cryptocurrencies. Monero is among the top ten in cryptocurrencies and is enormously popular in Japan. Coincheck announced that the exchange will review its controls and comply with regulations to avoid a situation like the hack that occurred earlier this year 
  • Bankex Smart Justice is bringing arbitration to blockchain technology. If users are in disagreement, Bankex claims the firms technology can help users settle
  • Thomas Lee owns up to his failed prediction of Bitcoin (BTC) rising ahead of Blockchain week. In a note to clients before Consensus 2018, Lee predicted that Bitcoin (BTC) would surge anywhere from 10-70% yet during the week, the price of Bitcoin (BTC) fell
  • Quantamize Machine Learning Crypto Signals for the next three days have been released and Bitcoin is one of ten cryptocurrencies with a Buy rating from our algorithms out of thirty cryptocurrencies