In Brief: Developments in Digital Assets Space

This week has been an exciting week for the digital assets space. The following developments have been important to note for those with a keen interest in how this story is getting written into history:

  1. The CEO for Nasdaq, the second biggest stock exchange after NYSE announced that they are open to becoming a crypto-currency exchange once regulations are in place. She further stated that cryptocurrencies are a new class of assets and this appears to show a shift in how digital assets have been perceived previously. For those interested in reading the full article, this can be found on CNBC news here.
  2. According to Bloomberg, billionaire investor George Soros is about to enter the crypto-currency space. He is referred to as “the man who broke the Bank of England” after he made $1 billion in one day, September 16th, 1992 (known as Black Wednesday). It would be interesting to follow how this story will unfold. To read full story on Bloomberg news
  3. CNBC news reports that a recent survey commissioned shows that 20 percent of financial firms such as banks and hedge funds are looking to trade crypto-currencies in 2018. If these intentions are translated into action, digital assets are likely to soar in value by the end of 2018.
  4. Pantera Capital, a credible hedge fund company estimates that cryptocurrencies market cap will reach $40 Trillion – the cap currently stands at $400bn according to CoinMarketCap
  5. Goldman Sachs, one of the biggest US banks hired the head of cryptocurrency helpdesk in the past week and Barclays is rumoured to be planning to do the same. The story appeared in Business Insider and other news outlets. This is an early sign that traditional institutions are warming up to the idea of digital assets. It shows a shift in the line of thinking
  6. Myetherwallet confirmed that some wallets got compromised and 150k worth of assets were lost due to sever related security issues. This highlights what has been a continuing risk in the digital assets sector-security. Article appeared in Cryptoslate

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