In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!
- VanEck & SolidX ETF WIthdrawn! Blame The Shutdown
In the worst news of the week, the ETF proposal we have long been waiting for was withdrawn by the CBOE BZX Exchange. While this isn’t the only reason, they cited the U.S. government shutdown as one of the main reasons for the withdrawal. While this is bad news, the markets didn’t really react and Jan van Eck, CEO of VanEck, claims he will submit the proposal at a later date.
“We were engaged in discussions with the SEC about the bitcoin-related issues, custody, market manipulation, prices, and that had to stop. And so, instead of trying to slip through or something, we just had the application pulled and we will re-file when the SEC gets going again.” – Jan van Eck
Read more about the VanEck & SolidX ETF here: https://www.altcoinbuzz.io/crypto-news/finance-and-funding/vaneck-solidx-etf-withdrawn-blame-the-shutdown/
- eToro adds Zcash to Its List of Tradeable Assets
eToro has added another asset to their platform, Zcash, it joins Bitcoin, Ethereum, XRP, Litecoin, Ethereum Classic, Dash, Stellar, EOS, ADA, and NEO as the assets listed. eToro is a regulated global brokerage firm that has over 10 million registered users. The more on-ramps to this technology, the better chance for adoption.
Read more about eToro here: https://www.altcoinbuzz.io/crypto-news/product-release/etoro-adds-zcash-to-list-of-tradeable-assets/
- Novogratz Continuing to Help Out Crypto Business
While the rise of Bitcoin and many altcoins in December 2017 and January 2018 made many people and companies rich, it also has hurt a lot of investors who either got in too late or didn’t sell. Fast forward a year and many project’s funds are drying up and they have no way to pay their developers.
In steps Galaxy Digital, who is planning to allocate many loans to numerous crypto firms. In return, they will be receiving collateral in many forms, cryptocurrencies, buildings, and mining hardware.
Read more about Galaxy Digital’s loans here: https://www.altcoinbuzz.io/crypto-news/finance-and-funding/novogratz-continuing-to-help-out-crypto-business/
“This was the NEWS” summary!
While many people expected a big drop from the withdrawal of the VanEck ETF, that drop hasn’t come. While it is possible and highly likely in this low volume market, it is strange that the price didn’t react.
It is good to see other platforms adding many different altcoins like eToro is. Back in December 2017 and January 2018, it was almost impossible to get a Binance or Bittrex account to buy altcoins. Having more exchanges with more coins allows for more users to more easily buy the assets they choose.
Many projects and other crypto firms have lost a lot of money (along with us investors) since the highs of last year. It is good to see that while he is biased towards this space, Mike Novogratz and Galaxy Digital still believe in this space enough to loan of money to struggling companies.