Mike Novogratz, the chief executive officer of Galaxy Investment Partners, recently discussed the challenges of building a cryptocurrency investment firm in the 2018 bear market. But the former Goldman Sachs partner predicts that institutional demand for cryptocurrencies will drive the start of a new bull trend in 2019. Also Read: Snowden: “Large Population” Believes in Bitcoin as Means of Exchange Galaxy Digital CEO Discusses Market Landscape Novogratz recently opened up about the challenges involved with launching a business in a bear market. But the 53-year-old former Fortress hedge fund manager hopes the group’s cryptocurrency merchant bank, Galaxy Digital, will eventually become the “Goldman Sachs of crypto.” He started by reflecting on the events of the past year. “2017 was just fun, it was almost stupid,” Novogratz told the Financial Times. “This year has been challenging. It sucks to build a business in a bear market.” 2018 has indeed been a bearish year for Galaxy Digital, with the company’s shares dropping 37 percent since they were first listed on Canada’s TSX Venture Exchange at the start of August. The bank posted losses of $134 million in the first quarter, driven by $85.5 million in unrealized losses on digital investments and $13.5 million in total losses from its trading arm. During the second quarter, Galaxy Digital posted net income of $35 million, with $44.8 million in unrealized gains and a reduction of its trading losses to $1.1 million. Novogratz Expects Institutions to Drive Turnaround Novogratz claims to be unperturbed by the poor performance of cryptocurrencies in…
Source: Novogratz: ‘It Sucks to Build a Business in a Bear Market’

With the launch of Bitcoin futures being delayed, contracts by Bakkt came to the minds of numerous crypto traders. This was because many crypto traders and enthusiasts had called the 12th December to be the day that more institutional investors would enter the market and start investing more in the space. With this in mind, Wall Street firms have been assessed by many as being the thing that will bring in the much-needed funds to prop up the value of Bitcoin and the crypto market as a whole. So essentially this would make the popular network, Bakkt be the thing that would end the bear market that had been sped up by the Bitcoin Cash Hash War. The CEO of Bakkt, Kelly Loeffler updated the crypto communities in a medium post saying that the date for the launch had been pushed forward to 24th January next year. Loeffler went on to explain the reasons for the delay saying that the company needed more time to put in place the necessary final pieces needed for the venture to be successful. This includes the regulatory framework, test and re-testing processes and more. Following the announcement that the launch was to be delayed the Bakkt team went to Twitter to say that they would be considering more contracts to be added that were linked to other digital assets. Question: We’ve been asked if we will add other digital currenciesAnswer: We’ll consider additional contracts as the landscape evolves and as we receive additional customer…
Source: Why TRX Should Be Considered By Bakkt

An updated version of one of Ripple’s most popular products, xCurrent is being released by the San-Francisco firm. Named as a rival to the 45-year-old messaging network, SWIFT, the 4.0 version of xCurrent is being more closely implemented with Ripple’s other massive product, xRapid. By using the cryptocurrency XRP, xRapid can provide ‘on-demand liquidity’ in cross-border transactions according to the company. This means the ability to use XRP as a bridge currency in the middle of a cross-border payment is possible which Ripple says will eliminate the payment processors that are needed to pre-fund bank accounts in destination countries. Whilst describing the fourth version of xCurrent, Asheesh Birla, Ripple’s SVP of Product spoke to CoinDesk and said: “What this release enables you to do is that in countries where you think it’s appropriate and xRapid’s available, using your xCurrent software, you can now plug into on-demand liquidity using xRapid.” With the release of xCurrent 4.0, a spokesperson for the company said that the transition to the new version is currently on-going. Birla didn’t give an exact time period for completing the upgrades but he did mention that xCurrent is on-premise software package’ which means that its tailored to each customer within reason but also noted that any new customers would start of the latest version. However, Birla did say that the xRapid implementation is completely optional. “In other countries, where there’s not good regulatory clearance or digital asset infrastructure, you just continue to use xCurrent as-is, with fiat liquidity.” As…
Source: Ripple's xCurrent Gets An Update

Since the very beginning, we have heard that the online betting industry is a true mammoth when it comes to the number of online participants and the amount of revenue the industry generates on a yearly basis. According to the report published on Casino.org, in 2017 alone, the online gambling and betting industry racked in a total revenue of more than USD 400 billion. While this number is not small and insignificant in itself, the fact that adds more prominence to this is the number of players who are actively seeking and joining various new platforms every day. Till this date, all the online -platforms supporting gambling and betting of various forms have been running in the traditional paperless economy system. While there is nothing wrong about this method, there are certain disadvantages and obstacles that can be easily overcome with technology upgrade, and thus the introduction of CyBet. What is CyBet? First in the world and one of its kind, CyBet is one of the most secure and technologically advanced online betting portals there is. The platform is based on the blockchain and boasts of secure smart contracts and easy availability of tokens (in the form of CyBet token) to initiate and complete various forms of transactions. Although the Blockchain system is not entirely a new concept in itself, the implementation of blockchain in online betting is. With CyBet, players all across the globe can securely purchase CyBet tokens with the help of Ethereum or ETH. On the platform,…
Source: How CyBet is Changing the Online Betting Economy

Despite the cryptocurrency market being in a slight slump over past two weeks which saw Bitcoin sink to lows of $4,000, Stellar and Monero have both claimed that they are going to be the next big thing in the cryptocurrency space by consolidating their market cap. The two digital currencies have added good amounts to their market cap to solidify their holdings in higher places on the list for the top ten cryptocurrencies. For a short time last week, Stellar Lumens became the fifth biggest cryptocurrency after it took over EOS however, it was still behind Bitcoin Cash. Currently, Stellar is the sixth biggest cryptocurrency in the crypto market after falling back down. Still in first place, however, is Bitcoin with a market cap of over $69 billion but it has lost massively after it dropped below the $5,000, $4,500 and $4,000 key resistance levels, then leaving it currently priced at $3,972 at the time of writing. Airdrop Following the announcement of a Stellar airdrop by the Asia Pacific based blockchain exchange Bithumb has announced a 15 Bitcoin giveaway to a random member. The airdrop is for the celebration of the exchanges fifth-year anniversary of trading. By logging into the exchange between November 12th and December 11th, the winner will be announced at random and the winner will be named on December 24th 2018. There is also a hint that there will be more airdrops with other coins on the way. It’s worth noting that we are not financial advisors…
Source: Cryptocurrencies To Look Out For: XLM & XMR

Withdrawals for both bitcoin cash (BCH) and bitcoin SV (BSV) are now open on the Coinex exchange, providing an easy way for BCH holders to split the two cryptocurrencies, which separated off from each other following the recent hard fork.  Also Read: Universities in New York, Tokyo and Luxembourg Support Crypto Development Coinex Opens BCH and BSV Withdrawals Coinex has announced that BCH and BSV withdrawals are now available on the platform. The company said this was done following “technical evaluation and testing,” but caution is still advised. The Hong Kong-based cryptocurrency exchange is one of the few platforms to promise to split the two tokens for customers who send them as unsplit, pre-fork BCH coins. It has provided an easy option for anyone who wants to separate the coins and withdraw them to different wallets. Coinex was founded in December 2017 and counts mining giant Bitmain among its investors. The exchange offers a wide range of crypto assets to be traded against BCH, bitcoin core (BTC), ether (ETH) and a couple of USD-pegged stablecoins. It has a native token, CET, which can be traded as well. Market makers are not charged fees, while market takers pay a somewhat low 0.10 percent on trades. Coinex also processes over-the-counter trades and offers referral rewards. It supports multiple languages and provides trading services in about 100 locations around the world. If you are looking for other ways to split your coins, possibly without going through an exchange, check out news.Bitcoin.com’s recently published DIY guide. What…
Source: You Can Now Withdraw Split BCH and BSV Coins From Coinex Exchange