Blockchains and Bagels Daily Market Roundup – 06.19.2018
Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Tron is rumored to acquire BitTorrent for US$ 140 million. Square obtains virtual currency license in New York.
Tech Crunch has reported Tron’s offer to acquire BitTorrent for US$ 140 million
Justin Sun, the founder of Tron, is rumored to have approached BitTorrent about a potential acquisition late last year. Tech Crunch is reporting the possible closing of the deal for US$ 140 million. The deal has not been finalized and, shareholders have not signed off.
Square Inc. acquires a license in New York allowing users to trade Bitcoin
The company has obtained a virtual currency license in New York, allowing users of Square’s Cash app to trade Bitcoin. The feature went live in other markets earlier in the year but was unavailable to users in New York.
Binance has backed the Malta Stock Exchange fintech incubator
The MSX Fintech Accelerator Programme aims to incubate the increasing number of fintech and crypto startups flocking to the island nation. The program provides access to resources such as accounting services, office space, and training.
UBS CEO sees blockchain technology as a necessity
Sergio Ermotti, the CEO of UBS Group, does not see value in bitcoin but the underlying blockchain technology. He views the blockchain as a method for reducing costs in an industry where gross margins are constantly under pressure.
Around the network
- eToro Fires Back Against Bank for International Settlements’ ‘Naysaying’ Blockchain Report
- Bitcoin volatility has plummeted, and that could be signaling a bottom, market watcher says
- Million-dollar box conjures up a fortune for bitcoin visionary
Through the headlines
- Chinese markets plunge on Trump’s newest tariff threat: Shanghai down 3.8%, Shenzhen falls 5.8%
- Trump fires back at Beijing with threat of new tariffs on $200 billion in Chinese goods
- As central banks tighten policy, Wells Fargo analyst says global markets just lost their goalie
- North Korea’s Kim visits Beijing; South Korea, U.S. halt military drill
- White House denies separating families is ‘policy’, but insists it is needed ‘to protect children’
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