Top Headlines
- Big Trouble Ahead for Canadian Crypto Exchange Quadriga CX
$250M of trouble lies on the horizon for Canadian crypto exchange Quadriga CX after CEO Gerald W. Cotten died mid-January in India, taking all of the exchange’s passwords and crypto keys with him.. (New York Times). The Wall Street Journal, who reports that the locked up assets actually total $136M, writes that two researchers found publicly-available evidence that the money is actually gone. Reuters reported earlier this week that the crypto firm was not under regulatory watch as the British Columbia Securities Commission admitted they were unaware the firm was trading in securities or derivatives, or that it was operating as an exchange. Meanwhile, creditors of the exchange have begun to argue over who has priority once recovery of assets is complete and repayment begins.. (Coindesk). The Ontario Securities Commission has opened an investigation into the platform “given the potential harm to Ontario investors”. (Reuters)
- In Interview SEC Commissioner Predicts Approval of Bitcoin Exchange-Traded ETF
A leaked interview between SEC Commissioner Robert J. Jackson, Sr. and Congressional Quarterly indicated that a Bitcoin exchange-traded ETF will eventually gain approval from the regulatory body. The interview is set to go public on February 11th, with Jackson stating “Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.” (Coin Telegraph, CCN)
- Crypto Markets Up as Traders Bet Long on Bitcoin and Etherium
Crypto markets surged slightly Friday night into this morning, as high-profile traders publicized their filing of long contracts on Bitcoin and Ethereum with expectations of the cryptocurrencies to jump after a long period of stability. (CCN)
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Crypto News
- Texas State Security Board Goes After Cryptocurrency Scams
The Texas State Security Board (SSB) issued 16 orders against cryptocurrency scam investments from 2018, after announcing in April of last year that they were investigating over 30 crypto schemes. The SSB continues to foster strong relationships with law enforcement to track down those involved in the projects identified as being fraudulent. (Coin Telegraph)
- Secretive Project from Telegram Crypto Raises $1.7B
The long-awaited secretive project from Telegram Crypto is nearly here after raising $1.7B, as an investor update released this week indicated that the platform is 90% complete. The platform is set to rival the Ethereum smart contract platform, processing computations in the same manner. (CCN)
- Ripple Adds More Universities to its Blockchain Research Initiative
Ripple continues to add universities to its Blockchain Research Initiative, announcing on Thursday the addition of Carnegie Mellon, Cornell, Duke, Georgetown, Morgan State, University of Kansas, University of Michigan, Northeastern University, the National University of Singapore and the University of Sao Paulo. The program is designed to expand and diversify the use of blockchain technology by preparing the next generation of tech to apply the resourceful technology. (Forbes)
- Bakkt Reports Q4 Profits Over $1.3B
Bakkt parent company International Exchange reported Q4 profits of over $1.3B, with the imminent launch of Bakkt expected to drive profits even higher in the upcoming months. (Conference call transcript provided by The Motley Fool)
Security Token Corner
- Modulus Increases Software Security with Addition of Securitize DS Protocol
Trading exchange software company Modulus has partnered with Securitize to implement their Securitize DS Protocol in efforts to to enhance their exchange software technology. The move will enable the compliant trading of digital securities on any exchange that partners with Modulus for launch. (Crypto Ninjas)
- As Security Token Market Grows, Do We Need a More Nuanced Vocabulary?
As the security token market grows, do we need more nuanced vocabulary? Here at CrowdCrypto, we’ve taken to calling these investment devices “digital assets” or “digital securities”, but Andrew Hinkes, general counsel of Athena Blockchain, breaks it down even further as the industry matures. (Coindesk)
Equity Crowdfunding
- FrontFundr Implores Canada: Open the Playing Field for Regulated Crowdfunding
FrontFundr, the leading equity crowdfunding site in Canada, is imploring Canadian regulators to open the playing field for regulated crowdfunding. In an open letter penned by Peter-Paul Van Hoeken, CEO of FrontFundr, the firm chastises regulators for failing to grow this industry and encourages what they believe is an easy fix to jump start growth. (Crowdfund Insider)