Blockchains and Bagels Daily Market Roundup – 08.03.2018
Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, OKEx liquidates trader’s position triggering insurance fund and socialized clawback clause.
OKEx likely to clawback trade profits after liquidating a large out of the money futures position
The futures trading platform began liquidating a US$400 million long position that had fallen out of the money. The company contacted the user to pare back the exposure unsuccessful. As a result of the liquidation, the losses incurred will be covered by both the insurance fund and other users.
US Securities and Exchange Commission increases brokerage scrutiny
The SEC has been questioning brokers that deal in digital assets for comment on business practices and procedures for client interactions. The regulatory body is also looking for a better understanding of the fees generated from trading, financing and initial coin offerings.
South Korea’s Financial Supervisory Service will explore a blockchain solution for stock transactions
The FSS has investigated the use of blockchain technologies by international stock exchange operators and advised local regulatory agencies to develop a similar solution. The FSS believes a blockchain system will increase the efficiency, integrity, and security of information transfer.
Walmart files a patent for managing smart applications using a blockchain
The retailer has extended its list of patents with the addition of a method for managing smart applications. One use outlined in the application is a kiosk for receiving drone-delivered packages.
Around the network
- The Future of Blockchain, According to the CEO of the World’s Biggest Crypto Company
- Millions of webstores can now accept cryptocurrency through Coinbase
- #IntlRoundup: Australian Bank Trials Blockchain, Government Funds Cryptocurrency Startup
Through the headlines
- China Plans Tariffs on $60 Billion of Imports to Counter Trump
- Payrolls rise 157,000 missing expectations, but overall picture still strong
- US trade gap widens amid Trump’s tariff battle
- Apple’s $1 Trillion Milestone Reflects Rise of Powerful Megacompanies
- Heineken takes on AB InBev in China with $3.1 billion deal
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