Blockchains and Bagels Daily Market Roundup – 08.17.2018
Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Crypto fund Pantera on track to raise $175 million while Nvidia crypto boom slows down in earnings report.
Crypto hedge fund Pantera to raise $175 million despite market slump
According to an SEC filing this week, Crypto hedge fund Pantera Capital has raised at least $71 million and is on track to hitting its $175 million target. The fund will also focus on companies in the blockchain technology space instead of purely investing in cryptocurrencies. The fund’s early investments include Bakkt, a platform that is now backed by Starbucks, Intercontinental Exchange, Microsoft, and others.
Nvidia’s crypto boom slows down in an otherwise strong earnings report
Revenue from crypto mining sales for Nvidia has slowed down quicker than expected, in an earnings release Thursday after-hours. The company only realized $18 million in chip sales to currency miners, missing sales expectations of $100 million for the second quarter. Shares of Nvidia are down 3% in pre-market trading on Friday.
Bank of China is partnering with UnionPay to explore Blockchain payment systems
State-backed Bank of China has entered into a partnership with financial services company UnionPay to explore blockchain technology for payment systems development. The partnership will investigate deploying distributed ledger technology to improve their mobile banking products.
Genesis Mining to drop lower Tier Bitcoin Contracts
Cloud-based mining service Genesis Mining has dropped support for its lowest tier bitcoin contract amid difficult market conditions and reduced mining outputs. With falling cryptocurrency prices briefly touching year lows, many cloud-based mining services are having difficulty maintaining profitability.
Around the network
- With Bitcoin sinking, crypto miners just dig deeper
- Blockchain Authoritarianism: The regime in Iran goes crypto
- China’s first blockchain social network is the brainchild of a 24-year-old female entrepreneur
Through the headlines
- Trump pushes China for better deal with trade talks set to resume
- Where to look in the oil market for clues of a demand slowdown
- White House’s Kudlow says China looks ‘terrible’. Data show otherwise
- Turkey targets credit as sanctions, rating spark Lira Jitters
- SEC reportedly investigating whether Elon Musk tweeted about take-private deal to hurt short sellers
Buy Bitcoin, Ethereum, and other digital currencies on Coinsquare, Canada’s most secure trading platform.
Get the latest blockchain and digital currency news from Canada and around the world, delivered each week to your inbox.
Your Email address