Crypto markets have taken a sharp downturn, today, July 27, with all of the top ten coins by market cap hit by hefty losses and Bitcoin (BTC) dipping back below the $8,000 psychological price point, as data from Coin360 shows. The grim market picture is likely due to yesterday’s breaking news that the Winklevoss Twins’ application for a Bitcoin exchange-traded fund (ETF) has now been rejected for a second time by the U.S. Securities and Exchange Commission (SEC). Market visualization from Coin360 Bitcoin (BTC) is trading around $7,915 to press time, down about 4 percent on the day. After leading …

The U.S. Securities and Exchange Commission (SEC) has rejected the application for a Bitcoin exchange-traded fund by brothers Tyler and Cameron Winklevoss, according to a release published by the SEC Thursday, July 26. Bats BZX Exchange, Inc. (BZX) filed a proposed rule change with the SEC to allow it to list and trade shares of the Winklevoss Bitcoin Trust in 2016. This first application for a Bitcoin ETF by the Winklevoss twins’ was rejected by the SEC in March 2017. The stated reason being the largely unregulated nature of Bitcoin (BTC) markets. The agency said then: ”When the spot market …

Cryptocurrency exchange Gemini Trust Company, LLC (Gemini) has announced that former Chief Information Officer of the New York Stock Exchange (NYSE) Robert Cornish has joined the company, according to a press release published July 6. Cornish will join Gemini, which was founded by the Winklevoss brothers, as its first-ever Chief Technology Officer. Cornish has previously held various senior positions at the International Securities Exchange, and was named by Institutional Investor as a “Trading Technology Top 40” Financial Services executive. At Gemini, Cornish will be responsible for leading technology initiatives and monitoring the deployment of Nasdaq’s SMARTS Market Surveillance technology, which …

Co-founder of BitMEX crypto exchange and an Oxford graduate Ben Delo has become Britain’s youngest self-made billionaire, Daily Mail reports July 2. Aged 34, Delo, who founded BitMEX in 2014, told Daily Mail that he used to spend 18 hours a day to build his platform. His work has apparently paid off, as BitMEX is currently one of the largest crypto exchanges in the world with a daily trade volume of around $2 billion, according to data from Coinmarketcap. “I have had my nose down in a start-up for the past four years. I was doing 18-hour days at one …

U.S. crypto entrepreneurs Tyler and Cameron Winklevoss have won a patent for a system to provide crypto-based exchange-traded products (ETPs), according to a patent filing published by the U.S. Patent and Trademarks Office (USPTO) June 19. The new patent represents systems, methods and program products for using ETPs that hold “digital assets” and “other products and/or services related to ETPs holding digital assets,” such as Bitcoin (BTC) and other cryptocurrencies, including Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Filed on Nov. 27, 2017 by Winklevoss IP, the patent includes both brothers as the inventors, as well as Evan Louis Greebel, …

They say that revenge is a dish best served cold - in this case, perhaps with a side of Bitcoin? While Mark Zuckerberg’s stake in Facebook has made him one of the richest men in the world, his rivals, the Winklevoss twins, found another way to become billionaires. The twins sued Zuckerberg in 2011 and received a $65 mln payout. While that number was paltry in comparison to the company’s worth, it was enough to take the twins’ net worth past the billion dollar mark. According to The Telegraph the twins invested $11 mln of the payout in Bitcoin in …

Announcing the launch of a financial product called “Bitcoin Tracker One”, XBT Provider has created the world's first regulated Bitcoin exchange-traded note. Working with Stockholm based brokerage and investment bank Mangold Fondkommission, XBT Provider has received the approval of the Swedish financial supervisory body Finansinspektionen. This authorization means that the financial note “Bitcoin Tracker One” is allowed to be traded on the Stockholm Nasdaq Nordic. Speaking about the news, Alexander Marsh, CEO of XBT Provider explained how he hoped the move would allow more investors to feel they can safely speculate on Bitcoin. "We are proud to offer the world`s …

Some well-known investors are bullish on Bitcoin, which might be just the vote of confidence needed for those who are on the fence about the digital currency. Chamath Palihapitiya Venture capitalist Chamath Palihapitiya, a former executive at Facebook, claims to hold about 23,000 Bitcoins, which are worth about $9 million at current rates (and increased in value by about $4 million in the past month). Palihapitiya has expressed a desire to buy more — to the tune of $10 million — underscoring his confidence in the asset class. However, he isn’t ready to invest in companies that are building around …