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SEC: US Financial Services Firm Withdraw Fillings



Public documents recently revealed hat a second  US financial services firm has withdrawn an effort to make exchange-traded futures (ETFs) related to bitcoin.

In a letter from October 5, an executive for Connecticut-based REX ETFs requested to pull back an amendment related to two previously proposed ETFs: the REX Bitcoin Strategy Fund and the REX Short Bitcoin Strategy ETF.

US Financial Services

The letter made by REX president J. Garrett Stevens, indicates that SEC has no interest in weighing in on products in the absence of available derivatives contracts in which to invest.

Stevens said:

“The Trust notes that on a call with the Staff, the Staff expressed the view that it is the Commission’s policy not to review a registration statement for a fund where the underlying instruments in which the fund intends to primarily invest are not yet available. The Staff requested that the Trust withdraw Amendment No. 47 until such time as the underlying instruments in which the Funds intend to invest (i.e., bitcoin futures contracts) become available for investment.”

This is a very similar situation to that of the withdrawal letter from VanEck a New York-based money manager.


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Bank Bans Credit Card Crypto Purchases




The Lloyds Banking Group in Britain is one of the giants in the whole world and the largest in the UK, and it has recently become the first major credit card provider in the country to ban its customers from using credit cards to purchase digital currencies.

Credit Card Ban: Cryptocurrencies

The ban comes after the case of J.P. Morgan Chase, Bank of America, and Citigroup’s similar choice yesterday to ban credit cards purchases of cryptocurrencies for all their customers.

Lloyds, has in itself Halifax, Bank of Scotland, and MBNA, and it will block its 9 million credit card users from buying cryptocurrencies.

However, Lloyd’s customers will still be free to buy cryptos with debit cards.

The credit card crypto ban came into place after Bitcoin saw a huge price drop in the market this week, falling below $8000 for several days which is not very good for the mainstream crowd.

Lloyds stated that the ban will “protect customers” that could store big amounts of credit debt if the market price keeps going crazy, which it may, if cryptos stay true to their rule of volatility

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Airline in Japan to Support BTC




Japanese airline, Peach Aviation has announced that it plans to accept Bitcoin (BTC) as a payment method.

Airline BTC Payment

The idea had been delayed, however it has been confirmed that they will in fact go through with it.

Japanese broadcasting corporation NHK World had previously posted an article about Peach Aviation doubting cryptocurrencies after the Coincheck hack for $534 mln. The article was removed not long after.

According to the airline, the rumors that Peach Aviation would not follow through with their BTC payment option after the NHK article, are false.

They said:

“There have been some reports today on our company retracting its plan to enable airline tickets to be purchased with Bitcoins; however, this is not something that was announced by our company and is not a fact. We are currently considering our start period in aiming to introduce such a service.”

Although it is still a new thing to include cryptocurrencies as a form of payment in airlines, Peach Aviation is not the first to accept them.

Back in July 2017, AirBaltic introduced to their customers the option to purchase flights with Bitcoin. On the Blockchain court, Singapore Airlines have just today, announced a Blockchain-based frequent flyer app which will be releasing in August this year.

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Bitcoin: $50K Before Crash, Says Jordan Belfort




Jordan Belfort, or “Wolf of Wall Street” has shown some doubt concerning Bitcoin’s price.

Belfort’s Opinion


Belfort said that he does not believe that Bitcoin is a scam, however he thinks that the cryptocurrency is a good tool for manipulation.

He believes that the rising price of BTC can be attributed to wild speculation because of what he sees as improper use of the cryptocurrency:

“Something [BTC] was designed to be used as a currency, and it’s being used as an investment vehicle […] As a currency, Bitcoin is no more useful at $20,000 or $100.”

“The Wolf” has spoken negatively about the potential for manipulating digital currency markets due to the thinness of the market. He referred to the case of Olaf Carlson-Wee, an early Bitcoin enthusiast who was paid in cryptocurrency when working at Coinbase back in 2013.

Belfort’s predictions rest on the fact that while Bitcoin is, in his words, a “wolf in sheep’s clothing,”  it also “might go to $50,000” before what he is certain will be its fall to $0.

He previously said that Bitcoin was problematic due to hackers having easy access to the currency. He also said in October that ICOs were the “biggest scams ever.”

Belfort is not a Bitcoin investor.

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