Blockchains and Bagels Daily Market Roundup – 06.15.2018

Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, The US Securities and Exchange Commission does not classify Bitcoin or Ether as a security. itBit has received approval to list Stellar Lumens.

US Securities and Exchange Commission will not classify Bitcoin or Ether as a security

The SEC’s William Hinman spoke at Yahoo Finance’s All Market Summit settling the discussion over the classification of digital assets. The SEC will not change the current definition of a security and will consider the degree of centralization in securities classifications decisions.

itBit has received approval to list and custody Stellar Lumens

The exchange has received approval from the New York State Department of Financial Services to list Stellar Lumens for trading. The company will also offer custody services and escrow services.

Ripple pledges US$ 2 million over 5 years to University of Texas

The University of Texas at Austin will receive US$ 2 million over a five year period for blockchain research. The university is part of Ripple’s University Blockchain Research Initiative, a consortium of academic institutions researching blockchain innovations.

William Shatner lends support to Solar Alliance’s digital asset mining project

Solar Alliance has acquired a 165,000 square foot warehouse for mining digital assets. The company has engaged with a top tier solar panel manufacturer to design and build a 3MW solar array to supplement power from the grid. William Shatner is a spokesman for the company and expressed his support for the potential solar energy has on digital assets.

Around the network

• Crypto unicorns clash while Bitcoin drops
• eToro is setting up a crypto trading desk for hedge funds and banks
• Xapo, itBit win U.S. regulator nod for virtual currency services

Through the headlines

• Trump approves tariffs on $50 billion of Chinese goods
• Trump’s forecast of 4% GDP growth close to coming true as Americans spend tax-bill proceeds
• Bank of Japan keeps monetary policy steady; offers bleaker view on inflation
• Oil traders are ‘waiting for Superman’ at the OPEC meeting, Helima Croft says
• Wall Street bankers pile leverage onto riskiest U.S. buyouts

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