Blockchains and Bagels Daily Market Roundup – 08.01.2018

Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today,  digital asset custody continues to develop as Coinbase hires new Chief Compliance Officer while Northern Trust joins the race and announces its product offering.

Coinbase hires new Chief Compliance Officer from BNY Mellon

The U.S-based exchange has hired Jeff Horowitz from Pershing, LLC., a subsidiary of BNY Mellon, to manage its compliance program. Horowitz’s brings deep experience in custody and settlement to support Coinbase’s custodial offering.

Northern Trust Corp is exploring a digital asset custody solution

The Chicago-based investment manager will explore adding digital custody solutions to its product offering. The company is developing a process to custody digital assets at a lower cost than current competitors.

Binance purchases Trust Wallet in the push for decentralization

The company announced its first acquisition with the purchase of Trust Wallet. The company offers a decentralized wallet that collects little user data. The acquisition aligns with Binance’s long-term vision of offering a fully decentralized exchange.

SBI Holdings purchases stake in Clear Markets in hopes of creating a derivatives platform

SBI Holdings has purchased a twelve percent stake in trading technologies company Clear Markets through its subsidiary, SBI Crypto Investment. The deal allows for SBI to move forward with the development of a derivatives trading platform.

Around the network

• Mike Novogratz’s Cryptocurrency Bank Galaxy Digital to Trade on TSX-V
• Cryptocurrency rules should be congress’s focus, key lawmaker says
• New cryptocurrency exchange targets european regulatory compliance

Through the headlines

• Fed to discuss when to pause gradual hikes; decision day guide
• Trump tariffs threaten the strong economic growth and the expected market returns: CNBC Fed Survey
• China’s central bank steps up effort to boost lending
• Weekly mortgage applications to buy a home hit the lowest level in a month as rates continue to rise
• China slams U.S. ‘blackmailing’ as Trump weighs higher tariffs

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