SUN ADMISSION: Justin Sun, founder of crypto platform Tron, said he is part of the investor group that recently acquired Poloniex from fintech firm Circle. Initially, he denyied his involvement. Speaking at a joint Tron-Poloniex event, Sun said Tron was among several investors in the exchange, but the exchange is operated independently from Tron. Full story
FUTURE MOVE: Bitcoin futures market Bakkt intends to expand from its current physically-settled offerings to cash-settled futures before 2020, Bakkt COO Adam White announced at CoinDesk’s Invest: NYC conference. Sources said the new cash-settled monthly futures are to be offered through ICE Clear Singapore and traded on ICE Futures Singapore. Full story
ON-CHAIN MIGHT: BitGo is processing more than 20 percent of bitcoin transactions, the company said at CoinDesk’s Invest: NYC on Tuesday. The announcement by the crypto custodian and issuer of hot and cold storage wallets means that a sizable share of on-chain transactions pass through its services, a sign of consolidation in the crypto space. Full story
COURT PLEA: Messaging app firm Telegram has made a new appeal for a New York court to drop an action brought by the Securities and Exchange Commission alleging its yet-to-be launched “gram” token is a security. In a filing published Tuesday, Telegram refuted all the allegations made by the SEC and maintained that “grams will not be securities when they are created at the time of launch of the TON Blockchain.” Full story
VETERAN OFFERING: DigitalX, the first ever cryptocurrency firm to be listed on a major stock exchange, has launched a new bitcoin fund aimed at professional investors and high-net-worth individuals. The Australian firm is putting up 215 of its total holdings of 431 bitcoin as seed funding. Full story
GARAGE INCUBATOR: A new blockchain incubator launched in Paris, reports TechCrunch. The Garage, founded by Cyril Paglino from Starchain Capital, Fabrice Le Fessant from Dune Network and Oussama Ammar from The Family, will provide early support to blockchain startups in exchange for 5 percent of equity in the firms. Five projects have already signed on with the company, with the goal of accepting 25 applicants per year.
Sun's investment