NEW YORK, April 30, 2018 /PRNewswire/ --
According to a survey published by Thomson Reuters, one in five financial institutions are considering cryptocurrency trading in 2018. The survey indicated that about 20% of the participants are considering trading cryptocurrency over the next 3-12 months. According to CNBC, Nasdaq CEO Adena Friedman told CNBC Wednesday that NASDAQ is open to become a cryptocurrency exchange in the future. Institutions' interest in cryptocurrency trading helped support the cryptocurrencies' prices. According to data from CoinMarketCap, bitcoin, the largest cryptocurrency by market cap, rose 4.84 percent to $9,287.9 during Friday's trading session. Prices of other major cryptocurrencies also rose on Friday. Chineseinvestors.com, Inc. (OTC: CIIX), Overstock.com, Inc. (NASDAQ: OSTK), MGT Capital Investments, Inc. ( OTCQB: MGTI), Pareteum Corporation ( NYSE: TEUM), Seven Stars Cloud Group, Inc. (NASDAQ: SSC)
Neill Penney, Co-head of Trading, Thomson Reuters, said: "Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago. The current priority for our clients appears to be seamless access to news and data around cryptocurrencies to facilitate informed trading decisions. As a leading provider of news, data, and trading capabilities, Thomson Reuters is well-positioned to deliver solutions that address client demand in the growing cryptocurrency market."
Chineseinvestors.com, Inc. ( OTCQB: CIIX) just earlier today the company announced news that new cryptocurrency and trading courses offered through its newly established Bitcoin Trading Academy LLC beginning in June 2018. The Bitcoin Trading Academy's course offering will include:
Bitcoin Trading 101: Students will gain basic knowledge about Bitcoin including how to open trading accounts on the most commonly held cryptocurrency trading platforms how to set up a cryptocurrency wallet. In addition, students will be educated on Bitcoin Futures trading strategies, both long and short, how to use Bitcoin Futures to properly hedge one's Bitcoin portfolio, and how to properly use beginner friendly trading techniques trading techniques such as Candlesticks and Moving Averages, among other key metrics that top financial analysts use in trading assets.
Bitcoin Trading 201: The second course in the program will focus on coins such as Ethereum, including coins with significant underlying technology such as EOS, XLM, ADA and NEO, and altcoin trading platforms, such as Binance and Bittrex. In addition, this course will provide instruction on how to use information such as a coin's underlying utility, how to use current industry and sector news in combination with technical analysis in an effort to maximize returns; and how to effectively scrutinize and understand social media feeds.
Bitcoin Trading 301: Professional ICO analyst, Preston Hom, will teach students what to look for when vetting a new cryptocurrency offering, including how to read a white paper, how to analyze the professional teams and advisory boards associated with an offering, the role that technology, marketing, trends play and what pitfalls to avoid.
"We are excited to expand our cryptocurrency education platform with the launch of Bitcoin Trading Academy, a cutting-edge cryptocurrency trading education center which follows the Company's successful November 2017 launch of newcoins168.com, a Chinese language cryptocurrency and blockchain technology news and information site. In addition to online courses, Bitcoin Trading Academy will offer live courses in New York City," says ChineseInvestors.com, Inc. CEO Warren Wang. Online courses will begin June 9, 2018. Additional course information will be provided on http://www.newcoins168.com."
Overstock.com, Inc. (NASDAQ: OSTK) portfolio investment company Bitt.com has signed a memorandum of understanding with the Caribbean island Montserrat to launch a digital payments platform. Bitt has been working to position island nations in that region as global leaders in the adoption of digital national currencies, allowing everyone with a smartphone, tablet, or computer to easily make digital domestic transactions. Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments, including tZERO, Peernova, Bitt, SettleMint, Factom, and IdentityMind, Spera and Symbiont.
MGT Capital Investments, Inc. ( OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Earlier this month, the company announced the filing of its 2017 Annual Report on Form 10-K with the Securities and Exchange Commission. MGT reported revenues from bitcoin mining of $3.1 million in 2017 versus $313,000 in 2016, with a gross margin of $1.6 million compared to $104,000, respectively. Net loss was $50.4 million for 2017 and $24.5 million for 2016. Net loss in 2017 was largely the result of non-cash accounting charges relating to stock-based compensation and to the early extinguishment of debt. Net cash used in operating activities decreased to $2.4 million in 2017 compared to $5.5 million in the prior period.
Pareteum Corporation ( NYSE: TEUM) is a rapidly growing Cloud Communications Platform company. In February, the company announced that it has published a whitepaper to explore the opportunities that Blockchain enables including security, identity management and settlement. The whitepaper begins with defining how Blockchain supports the integration of various forms of traditional and next generation payment models. Providing real-world use cases, the whitepaper demonstrates how Blockchain relates to the communications market. The Whitepaper explores how the Pareteum Global Cloud Service Platform supports Blockchain enablement and why it's important for mobile solutions providers to understand the basics of this new technology.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to become a next generation Artificial-Intelligent (AI) & Blockchain-Powered, Fintech company. On April 17, 2018, the company announced a digital asset distribution agreement with GT Dollar Pte. Ltd. (GTD), a Singaporean-based global virtual credit clearing system operator connecting over 2 million businesses worldwide. GTD will be will launching a digital asset exchange and trading platform on its GT Dollar App that will exclusively facilitate the listing, quotation, trading and settlement of digital index products offered by SSC. The distribution agreement will offer the Company a built-in audience to market its digital financial products to by leveraging GTD's vast financial products sales network in Southeast Asia.
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