Major cryptocurrency derivatives exchange FTX has launched trading in “fractional stocks offerings” — tokenized products representing the shares of global firms. The products were launched on Oct. 29 in partnership with German-licensed investment Firm CM-Equity and tokenization firm Digital Assets AG. More than one dozen equity and crypto pairings are available for trade on FTX, including fractionalized Tesla (TSLA), Apple (APPL), and Amazon (AMZN) derivatives. Fractionalized ownership lets the derivatives be broken down into smaller sizes than whole units, allowing retail traders to speculate on expensive stocks like Tesla’s with less capital. “These products demonstrate a powerful future, in which …

The Australian Securities Exchange, or ASX, has delayed its switch to blockchain for the third time, citing complications due to COVID-19 and additional feedback from stakeholders. According to an Oct. 28 update from the ASX, the exchange has officially delayed the rollout of distributed ledger technology (DLT) infrastructure to replace its current system for processing equity transactions. ASX will now release the project — the replacement for the Clearing House Electronic Subregister System (CHESS) — in April 2023, a one-year push from its most recent timetable. The exchange cited a number of reasons for the change including the current pandemic …

A senior regulation executive at the world’s largest stock exchange is moving into the cryptocurrency industry. Anthony Albanese, a former chief regulatory officer at the New York Stock Exchange, is reportedly leaving his position to join Andreessen Horowitz, a major venture capital firm focused on investments in crypto and blockchain developments. A spokesperson for Andreessen Horowitz told The Wall Street Journal that Albanese will leave NYSE to enter his new role in mid-November. In his new position at Andreessen Horowitz, Albanese will focus on building the company’s regulation strategy for cryptocurrency projects and cooperation with regulators. Andreessen Horowitz is known …

Bitcoin (BTC) price has been showing impressive strength in the previous weeks and today the price made a new 2020 high at $13,666. This momentum was made alongside weakness in the U.S. dollar and many analysts believe that as long as the dollar remains weak, Bitcoin and other safe-haven assets will do well. However, as Bitcoin shows strength, altcoins are failing to follow suit and most altcoins are selling off against BTC. Bitcoin’s dominance rate has been rising in the previous weeks and this shows that the market’s momentum is based around Bitcoin. Traders expect resistance between $13,500-$14,000 The weekly …

The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC. Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally. Why $12.5K and $11.9K are crucial for the current Bitcoin rally The Bitcoin price dropped sharply on the day due to the confluence of major macro factors. JPMorgan said the re-election of U.S. President Donald Trump would be the most favorable outcome for …

Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind. In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of value. Pomp on safe haven Bitcoin: “The market is proving it” Pompliano uploaded a chart from behavior analysis platform Santiment, which showed Bitcoin hitting 0 for 30-day correlation with the S&P 500. “It could not be more uncorrelated than it is right now,” he added …

On August 31, 2020, Morpher Labs announced the launch of its flagship Ethereum-based contract trading and prediction market platform, Morpher, with the stated goal of providing users unlimited access to long-and-short trades of real-world stocks, commodities, and FOREX markets. The technical obstructions of such a goal, however, have historically proven tricky to navigate. In a recent interview with Cointelegraph, Morpher Labs CEO Martin Froehler explained that Morpher’s vision is to allow worldwide access to asset classes that normally have multiple barriers in the form of geographical restrictions, middlemen, and steep fees. “The goal of the platform is to enable anyone …

Earlier this week, Bitcoin (BTC) advocate and Real Vision CEO Raoul Pal said gold is breaking down against BTC. If the dominant cryptocurrency continues to gain momentum against BTC, it could strengthen its perception as a store of value. In the past month, the price of Bitcoin gained 30.36% against the U.S. dollar, from $10,136 to $13,217. In the same period, gold has gained about 2.25%, from $1,863 to $1,903. Why is Bitcoin outperforming gold and stocks? In the past two weeks, while the price of Bitcoin rallied strongly, both gold and the U.S. stock market steadily recovered. The confluence …

JPMorgan, the $316 billion investment banking giant, said the potential long-term upside for Bitcoin (BTC) is “considerable.” This new optimistic stance towards the dominant cryptocurrency comes after PayPal allowed its users to buy and sell crypto assets. JP Morgan, from "Bitcoin is a fraud and will blow up" in 2017 to "Bitcoin’s competition with gold" in 2020. We've come a long way. pic.twitter.com/xceabkHaVJ — Krüger (@krugermacro) October 24, 2020 The main factor put forward by JPMorgan’s Global Markets Strategy division is Bitcoin’s competition with gold. The note, obtained by Business Insider, reads: "The potential long-term upside for bitcoin is considerable …

A recent report from institutional crypto firm Fidelity Digital Assets concluded that Bitcoin (BTC) shows very little price correlation to mainstream financial assets, based on data from the past five years. Over the course of 2020, Bitcoin has gained further adoption into mainstream finance, which logically might impact the asset’s correlation or lack thereof. Has Bitcoin’s correlation changed in 2020? Ria Bhutoria, director of research at Fidelity Digital Assets, told Cointelegraph via email: “Bitcoin has experienced higher positive correlations to other assets over shorter time periods, especially during periods of uncertainty and turbulence, and even prior to 2020.” Amid rising …

PayPal (PYPL) reached $215.87 on Oct. 21, a few dollars past its previous all-time high of $212.38, set on Sept. 2, 2020, according to data from TradingView. This price action came shortly after the payments company announced that it would soon be including crypto assets on its platform. PayPal plans to integrate Bitcoin (BTC), Etheruem (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) offerings into its network. Opening the trading day at $206.20, PayPal quickly rose past its all-time high, but just barely — breaching the level by about $0.14. The asset subsequently fell lower before breaking the previous high with …

Canadian digital asset manager 3iQ has recorded a major milestone fo its public Bitcoin (BTC) fund. The Bitcoin Fund — Canada’s first Bitcoin fund listed on a major stock exchange — has crossed the $100 million market cap threshold, 3iQ announced in an Oct. 20 tweet. Tyler Winklevoss, a major cryptocurrency investor and a co-founder of United States’ Gemini crypto exchange, congratulated 3iQ on the milestone. Big Milestone. The #Bitcoin Fund by @3iq_corp that trades publicly on the Toronto Stock Exchange under $QBTC.U, just passed the $100 million mark. Onward! — Tyler Winklevoss (@tylerwinklevoss) October 21, 2020 As previously reported, …