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Cryptocurrency Midday Report

May 24, 2018

  • Surkus has raised USD$10mm in Series B funding led by EOS global, a USD$200mm venture fund formed earlier this year. The venture fund is making its first investment and it aims to leverage the EOSIO blockchain to catalyze the transformation of the digital assets space. The Surkus platform services the nightlife industry and is expanding its offerings to include comedy shows, brand activations, charity events, classes, movie screenings etc
  • CoTrader is introducing a decentralized fund management platform that includes cryptocurrency. CoTrader is a blockchain trading platform and it plans to disrupt investment funds to become the world’s largest outlet for all assets. The firm has a patent pending on technology which allows investors to copy the investments of successful traders while maintaining direct control
  • The Deutsche Boerse, owner of the Frankfurt Stock Exchange is considering offering cryptocurrency products according to a report. A move into the crypto space may not be immediate as Jeffrey Tessler, the firm’s head of clients, said the firm must “make sure we understand the underlying transaction which isn’t the easiest thing to do”. The firm mentioned they are not at the same stage as the CME Group nor the Cboe Global Markets which launched bitcoin futures trading last December
  • Two Russian financial institutions are set to test a regulatory platform that aims to make domestic initial coin offerings (ICOs) more transparent and secure for traditional investors. The Russian National Settlement Depository (NSD) announced on Thursday that it is working with Sberbank CIB, to test an ICO issuance platform launched by the Bank of Russia. A company named Level One will launch a token sale for which Sberbank will act as the issuance coordinator and anchor investor. The NSD will serve as the custodian
  • The Monetary Authority of Singapore (MAS) has warned eight digital token exchanges to stay away from trading in digital tokens that constitute securities or futures contracts. The Monetary Authority has cautioned the exchanges to seek authorization for trading digital tokens that are regulated under the Securities and Futures Act (SFA)