DATA EXCHANGE: BlockFi, the cryptocurrency lending service backed by Galaxy Digital, Winklevoss Capital, ConsenSys Ventures and others, is expanding into trading with an unusual, zero-fee model. The firm hopes profits will come from selling data on the users’ trades to big institutional crypto firms that, in turn, will act as market makers at BlockFi, providing liquidity. Full story
POMP ABOARD: Blockchain-based consumer lender Figure Technologies has added Morgan Creek Digital’s Anthony “Pomp” Pompliano, one of the sector’s most exuberant supporters, to its board. Figure also announced a $103 million funding round as it expands its lending products that run on a blockchain. Full story
CRYPTO CULTS: Cryptocurrency has strayed from its roots in the decade since a mysterious programmer (whose identity remains unknown, and to most users unimportant) invented a new form of anonymous digital cash. Cults of personality and public histrionics have now come to define the sector. Leigh Cuen reports
TOKEN REWARDS: Do good work, earn a "badger." That's the idea behind a new incentives scheme launched by Microsoft in partnership with blockchain gaming project Enjin. Dubbed Azure Heroes, the initiative rewards Azure community members for positive actions, such as coaching, making demos and so on, with crypto collectibles (or NFTs) transacted and viewable on the ethereum blockchain. Full story
BROKEN CIRCLE: Sean Neville, Circle's co-CEO, will step down from his role at the end of the month. Neville, who co-founded the Boston-based payments firm in 2014 with Jeremy Allaire, said the company’s recent sale of the Poloniex crypto exchange was one of several factors that made “the time appropriate for me to transition.” Full story |
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| FAILED BOUNCE: Bitcoin's sharp rejection after a sudden rise to $7,800 on Wednesday has invalidated the immediate bullish outlook. The cryptocurrency has formed an inverted bearish hammer on the daily chart, warning of an impending sell-off. If the candle's low of $7,087 is breached, stronger selling pressure may emerge, taking prices to recent lows near $7,500. Full story |
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Zero-fee liquidity