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Galaxy Digital CEO Mike Novogratz’s 80% Equity Stake Causes Share Performance to Skyrocket



Galaxy Digital was reporting some minimal shares in November, only amounting to 89 cents apiece. However, this low number has skyrocketed recently, going up to about $2.50, pivoting towards the highest price that the company has ever seen, which was $3.18. According to Bitcoinist, the recent downturn in November was part of the knock-on effect of Bitcoin’s market downturn.

The bull run in November, which was fairly brief, didn’t give back the sentiment to the public, and the platform ended up sustaining further losses. Luckily, an “abrupt” change in direction started this year.

CEO Mike Novogratz and the bank have been seeing a lot of admiration from the industry for the upturn, as analysts say that the change came from an investment in Novogratz, establishing 80% equity.

These analysts have said that Galaxy Digital is easily one of the greatest performers in the crypto trading space, even though they do not even have their own cryptocurrency. Now, the progress that the platform is making comes as they push forward with investments plans, even though the crypto market has largely been slow.

During an interview with TechCrunch, a length interview with co-founder Mike Engelbert showed a positive and even optimistic perspective on the future. He suggested that the expansion will be continuing, adding that the biggest opportunity for businesses has been their investment side.

Acknowledging the downturn in the market, Engelbert commented that the trading business is already growing, keeping the same pace that is typical of “any trading business.”

Still, it is important to be realistic. After all, Galaxy Digital saw nearly $140 million in losses in November, and it would be foolish to think that there could never be more damage in the future. He added that there is still plenty of time for the technology to develop, and that they are “still a ways away” from the seamless quality that the company is striving for.

Novogratz’s actions have been paired with a renewed faith in the price of Bitcoin over the last few weeks. During interviews, he has spoken on Bitcoin’s potential as “digital gold,” adding that he thinks that Bitcoin has reached “an equilibrium in this $3400 to $3600 zone.” Recognizing that the market can still go down, he noted that the next direction of the company “will be significantly higher.”

Not everyone agrees with Novogratz, considering that Bitcoin seems to be dipping below the $4,000 already and how likely this chance is to happen again. Going below $3,800 by the end of the month would definitely cement the idea that more bearish behavior is to be expected.



JP Morgan CEO “wouldn’t spend too much time on” Libra



In a recent interview with CNBC, the head of JP Morgan has claimed that he doesn’t see the release of Libra as a major issue. Discussing how to deal with the threat it potentially poses, Jamie Dimon said that he “wouldn’t spend too much time on it”.

Dimon has been deeply critical of Bitcoin and the cryptocurrency space in the past, but recently his attitude towards crypto seems to have changed slightly.

A few months ago, his own bank launched its own token, JPM Coin. This institutionally-focused remittance system was received with very little enthusiasm from the crypto community, and many pointed out that it was entirely centralized and didn’t count as a crypto at all. However, these same criticisms have been levelled at Facebook’s upcoming Libra stablecoin, and the two could potentially compete for some clients. 

The JP Morgan CEO insisted that he didn’t perceive Libra as a threat at all: “To put it in perspective, we’ve been talking about blockchain for 7 years and very little has happened,” he said during a conference call with analysts. “We’re going to be talking about Libra three years from now. I wouldn’t spend too much time on it.”

As for regulations concerning Libra, Dimon said that AML and KYC rules will need to be followed by everyone: “The request is always going to be the same: We want a level playing field. And governments are going to insist that people who hold money or move money all live according to rules where they have the right controls in place; no-one wants to aid and abet terrorism or criminal activities.

Source: ambcrypto

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Chainlock makes Dash immune to 51% attacks, claims Ryan Taylor



Dash was recently in the news for the implementation of Chainlock, a protocol which helps the Dash network become immune to 51% attacks or a chain re-org.

Ryan Taylor, Dash CEO, was recently featured in an interview where he spoke extensively on Chainlock, New InstantSend and more. Taylor first spoke of how Dash is different from other cryptocurrencies and how it was focused on making “Point-of-sale” for users a more seamless process.

With the implementation of Chainlock on the Dash network, it can now settle payments instantly and can quickly be re-spent without any risk to the receiver.

In the interview, Taylor also spoke about the issues Proof-of-Work-based chains face. According to him, these chains follow the block that has “the most work associated with it,” and always go with the first block they see, even when there are two potential blocks. The validity of a block is confirmed only after the next few blocks are formed in the network.

He then spoke of projects using a checkpoint system, a system that carries its own cons. Taylor said that Dash had solved these issues. Dash has created a network that votes by itself on the blocks created. It does so through developed layers of a network called “Master Nodes.” These master nodes then randomly select 400 nodes to form a “Quorum,” members of which then vote when a block is sighted. The purpose of the voting is to term a block valid for it to be added to the network.

A block is only valid if 60% of the members agree to it. Later, a message is sent via the network and mentions the details of a block at a particular height, while also informing about any other block which is rejected.

When asked about the importance of Chainlock and reducing the chance of a 51% attack, Taylor said,

“The cost of attacking the Dash network for an hour isn’t just rent some hashrate like it is for all other cryptocurrencies, you also have to control 20, 25 percent of the coin supply before you could even attempt it. That makes Dash, probably, the most secure cryptocurrency, even more so than Bitcoin.”


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Binance CEO Hosts Fifth Live AMA On Company’s Latest Objectives For Futures And Smart Contracts



Binance head CZ sat down for his latest edition of his famous AMA where he addressed numerous rumors and questions around Binance.

He said that while the arrival of institutional demand is one of the most cited reasons by cryptocurrency proponents for this year’s rally, individual investors are still playing a key role in driving the dramatic price gains. While both institutional and retail trading is growing at Binance, individual investors account for about 60% of trading volume which is the same proportion as the last year. This growth comes in part thanks to greater availability of margin trading.

Expanding on this, CZ said:

“So far, there’s more than $15 million borrowed for margin trading, so clearly there’s a very strong demand for that, and we’re happy to finally push the product out, and have more people use it.”

He even said that there is a possibility of a Future launch:

“The simulation market price will roughly follow the real Bitcoin price, which is the real contract price. We will do a simulation first. Then, in 10 to 20 days, we’ll make the futures testnet live.”

He was proud of the fact that the Binance DEX has been received with open arms by the crypto community.

“I think Binance DEX offers many many advantages. I mean in terms of technology, it is faster, cheaper etc, etc but also in terms of economics, when a project is on Binance, we help it market and provide a lot of service around it, which also helps promote the growth of our Binance DEX.”

Binance team is all set to burn off all the BNB tokens that were allocated to them in order to burn a mountainous 100 million BNB in total. CZ said that rather than linking BNB with market projects or holding BNB buybacks, the Binance team will be burning all of their tokens first, all the 2.4 billion USD.

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Source. bitcoinexchangeguide.

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