When I began to get interested in trading, about 20 years ago, I read many books on the topic. One day, I saw: “In order to make money in the markets, the importance is not to lose.” Duh! — did I tell myself while reading… only later to discover the real meaning behind that catchy phrase, which I have since applied when trading, and to a great benefit. The eighth wonder of the world In order to understand the true meaning of, “In order to make money in the markets, the importance is to not lose,” one has to remember …

When the United States government voted in stimulus payments to its citizens in the wake of COVID-19, to say it went well would be… categorically untrue. From delivering checks to the deceased to the simple fact that most people would have to go to a bank to cash a paper check during a viral pandemic, it became clear that our financial systems are not prepared for this. As countless Americans struggle to stay afloat, the effects of COVID-19 have confirmed what many have suspected for years now — this system was not built to keep up with the needs of …

When blockchain technology began to expand beyond Bitcoin (BTC) and into more general-purpose applications, many within the industry saw an opportunity to remake key financial infrastructure using this technology. They soon came to realize that this novel technology with game-changing potential lacked the reliability and performance that would allow it to compete with industry stalwarts, such as the Society for Worldwide Interbank Financial Telecommunication, or SWIFT. The potential was there, but it was still a little too early. Fast forward a couple of years, and this larger trend to remake core financial functions on open networks has given rise to …

In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, the United States Federal Reserve and, most recently, from the Financial Stability Board all emphasize numerous risks under the banner of “financial stability.” The concern is with global stablecoins, which the FSB defines as having “potential reach and adoption across multiple jurisdictions and the potential to achieve substantial volume.” The FSB report included a glossary of definitions for key terms, although none …

Beyond rapidly changing how we create, store and transfer value, cryptocurrencies are accelerating financial inclusion in a way that traditional financial institutions have either been unwilling or unable to. Yet crypto’s possibilities go way beyond banking the unbanked. It allows developing nations and those without access to financial services to avoid the bank completely and transact and grow small businesses using just a mobile phone. Why financial inclusion is so important Even today, almost 2 billion people around the world have no access to financial services. That’s approximately one-fourth of the global population. Having nowhere to place savings and not …

There’s a revolution happening. We’re moving toward a world with a massive reduction in trust in centralized institutions and ways of doing things. There are several concurrent shifts happening right now, including a shift away from centralized governing bodies — encompassing a lack of trust in middlemen, governments and even the authority figures hired to keep us safe — as well as a loss of trust in social media platforms, which are now more aggressively censoring content. The second is a shift from the old financial world into a new, 24/7 digital economy, in which individuals are empowered to control …

BitGo, a company previously known for its custody business, is purchasing Lumina, an integrated tax service for institutional traders. The deal is part of BitGo’s year-long strategy to diversify its crypto business. The deal, whose value remains undisclosed, was announced by BitGo on April 16. Lumina had raised $4 million in seed funding in 2018. The startup will be fully integrated into BitGo’s current product offerings, with its team being absorbed as well. Lumina’s former chief executive, Chen Fang, will now act as the chief product officer at BitGo. Lumina provided two different tools for institutional clients, named Lumina Portfolio …

If the current COVID-19 pandemic has exemplified one thing, it is that our individual actions have consequences for all of us. Unfortunately, human nature propels the majority of humankind to put its individual interests first, and it takes a truly severe crisis to open our eyes to the interconnectedness of our actions. It is through assessment of real-life stress tests that the blockchain industry’s collective immune system develops the necessary resilience, and this is of the utmost importance, as the world’s total unpreparedness for the COVID-19 threat clearly showed. The unprecedented meltdown of prices across crypto assets caused by the …

Institutions will now be able to trade on every single crypto market simultaneously thanks to GlobalX, an API platform launched on March 31 by San Francisco-based firm Apifiny. The startup hired former executives of Google X, Kraken and AlphaPoint to promote the service. Specifically, Josh Li will act as Apifiny’s chief business officer, having previous experience in Google and Google X, Alphabet’s innovation arm. Michael Fertman will lead the B2B marketing efforts as VP Marketing of Apifiny, coming from the security tokens startup AlphaPoint. Finally, Scott Eilbeck was brought on as VP of strategic partnerships and institutional sales. He recently …

When the United States Treasury said on Feb. 13 that it would seek to enact new regulations governing cryptocurrencies, the price of Bitcoin (BTC) fell by almost 2% within an hour. But Alex Tapscott, for one, thinks it unlikely that the U.S. government will squash Bitcoin, as some fear. As he told Cointelegraph during a recent interview: “Crushing BTC in the U.S. is not feasible, in good part because key U.S. regulators have already supplied guidance on how it should be regulated,” referring to organizations such as the Commodity Futures Trading Commission. Tapscott, co-founder of the Blockchain Research Institute, remains …

The Depository Trust & Clearing Corporation (DTCC), a global financial market infrastructure giant, says traditional IT security frameworks must be updated to tackle the blockchain. An official press release on Feb. 12 took note of the expected rise in adoption of distributed ledger technology like blockchains in financial services globally. The DTCC has published a new white paper, Security of DLT Networks, which recommends the creation of a comprehensive, DLT-specific Security Framework and, potentially, an Industry Consortium that would spearhead research into standards and guidelines for the sector. New benefits, new risks In its white paper, DTCC notes that at …

Asiff Hirji has joined Figure, a U.S. lending company utilizing blockchain to process the loans, a Jan. 30 press release revealed. Hirji will be company’s new president, having previously served as president and COO of Coinbase and other financial services companies. During Hirji’s two year tenure at Coinbase, he is credited with growing the company to over $1 billion in revenue and overseeing the expansion of its business and management team. Previously, Hirji occupied leadership roles at Andreesen Horowitz, TD Ameritrade, TPG Capital, Saxo Bank and others. At Figure, he will lead key business divisions while working to establish the …