Cryptobond Creator Exposes Truth About Wall Street Security Loans
After the launch of Overstock's cryptobond, which is a security based on blockchain technology, CEO Patrick Byrne shed light on Wall Street's security loans. He pointed to research from DataLend indicating that about $954 billion in securities is typically on loan to some fund or another. In other words, hedge funds and large investment firms don't just buy and sell securities. They also borrow these from each other, possibly in order to short sell or to hedge other positions. Byrne said that this activity incurs a lot of profits for middlemen and costs for smaller traders. Cyrptobond as....
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US retail giant Overstock has sold a $5m "cryptobond" to FNY Managed Accounts, a New York-based trading firm. The sale is part of a proof of concept from the Utah-based e-tailer showcasing how financial instruments can be digitized and traded on cryptographic distributed ledgers such as the bitcoin blockchain. Overstock first began accepting bitcoin in January 2014 and has since been one of the ecosystem's most active public advocates. The project was first announced in April and later detailed further in June. At the time, the company announced that CEO Patrick Byrne had purchased a....
For people active in the Bitcoin ecosystem, some days appear as if they were taken out of a telenovela at certain times. One of the recent topics of heavy debate is whether or not the Bitcoin block size should be increased, and if so, in what capacity. Additionally, there is still the mystery surrounding the creator of Bitcoin, who goes by the name of....
Allegations that Wall Street is deliberately suppressing Bitcoin’s price are nothing new—but according to James “Checkmate” Check, they’re nothing more than fiction. In a wide-ranging appearance on the G’day Bitcoin podcast, the Check on Chain analyst directly addressed the conspiracy theories circulating across X, asserting that the appearance of price stagnation is entirely natural—and misunderstood. […]
There is one trend which likely will continue into 2016 in the banking world, and that is the trend of Wall Street executives defecting from the mainstream banking industry into the Bitcoin industry. With consortiums such as R3 – and thus the biggest banks in the world – investigating blockchain technology, individuals from Wall Street will enter into the Bitcoin space in order to learn more about the technology. Of course, Blythe Masters entered the space. The creator of the BitLicense, Benjamin Lawsky, also started a Bitcoin advisory company. They’re not the only individuals to leave....
Wall Street has been keeping a close eye on the evolution of distributed ledger technology in recent years. The Wall Street Blockchain Alliance, launched in 2015, announced a certification program. The primary goal is attracting Distributed Ledger Technology developers. Education is an important aspect of blockchain technology. While the possibilities of....