SecondMarket's Bitcoin Desk Relaunches as Genesis Trading
The former bitcoin trading division at SecondMarket has relaunched as the Digital Currency Group's (DCG) latest subsidiary, Genesis Trading. Advertising itself as the first regulated broker-dealer in the US to specialize in bitcoin, Genesis is the latest development at Barry Silbert's increasingly active organisation. The trading firm offers institutional and private investors a way to buy and sell large blocks of digital currencies such as bitcoin, litecoin and ripple, a specialty its team honed sourcing bitcoins for SecondMarket's private investment vehicle, Bitcoin Investment Trust.....
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The US Securities and Exchange Commission (SEC) has issued a cease-and-desist order against the Bitcoin Investment Trust (BIT) and its authorized participant SecondMarket, the latter of which has been ordered to disgorge roughly $50,000 in a settlement with the agency. Originally founded by investor and Digital Currency Group CEO Barry Silbert when he was CEO of SecondMarket, the BIT issues shares with a value tied to the value bitcoin, and unrestricted shares of the BIT are quoted on OTCQX. Newly issued shares are restricted and cannot be quoted on OTCQX. Specifically, the....
ItBit has launched its Global OTC Agency Trading Desk, a new, five-person over-the-counter (OTC) trading service that allows customers to complete trades outside its online order books. The trading desk will facilitate transactions of 100 BTC (roughly $28,000 at press time) or more with no broker or trading fees. As part of a limited promotion, new users will also receive $50 in bitcoin for completing their first trade. ItBit Institutional Client Group director Bobby Cho noted that the new product aims to appeal to large volume buyers who want to avoid exchange slippage, whereby their....
Some pretty big news coming from the SecondMarket/Bitcoin Investment Trust today. Company head honcho Barry Silbert took to Twitter on Saturday to announce that he's planning to form a syndicate to bid on a huge sum of bitcoins up for auction by the U. S. Marshals service. 1/Announcement: @BitcoinTrust and SecondMarket's bitcoin trading desk will be forming a syndicate to bid in US Marshals bitcoin auction... - Barry Silbert (@barrysilbert) June 14, 2014. The announcement comes following this week's headlines that the United States Marshals service is planning to auction off over 29,000....
Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 reports, where it confirms what it calls the “emerging role” that Ethereum and defi have in the industry. The report also confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. Genesis Confirms Ethereum and Defi Market Rise Genesis, a big cryptocurrency lending and trading desk, has confirmed that emergent currencies like Ethereum and defi tokens have taken a relevant part of the market, according to its Q2 2021....
Today, SecondMarket has revealed their "Experienced, Full Service Bitcoin Trading Services" via a newly released webpage. SecondMarket has launched their first step towards America's first fully regulated Bitcoin Exchange. Buyers and sellers now have a fully compliant source of Bitcoin trading from the fabled NYC. SecondMarket is licensed to do its business in all 50 states, as well as with the SEC and FINRA. The Bitcoin Exchange Services provided by SecondMarket are simple: Buying and Selling of BTC with a 25 BTC minimum. As PJ wrote days ago, Wall Street is coming onboard. Wherever Wall....