Weekly Review: Executives Move, Bitcoin Price Drops

In an otherwise quiet week in the crypto space, there were a number of notable executive moves.

Not long after former Bitcoin Foundation Executive Director Jon Matonis joined Bitcoin startup First Global Credit in a non-executive capacity, former Obama advisor Brian Forde joined MIT’s Media Lab to spearhead its Digital Currency Initiative. Ripple Labs brought in former Hightail and AOL executive Brad Garlinghouse as its COO.

The moves continue a trend that has seen numerous executives from non-cryptocurrency related industries make moves into the space during the past year. A number have originated from banks such as JPMorgan, whose CEO Jamie Dimon informed investors that it stands to learn from disruptive technologies like Bitcoin.

Mainstream banking is moving closer toward working with Bitcoin technology, with software provider Infosys now considering it for its Finacle product. This follows similar announcements by UBS and Bank of NY Mellon indicating plans of research into how Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology can streamline operations.

Bitcoin may thus be getting the bulk of the care it is seeking from mainstream finance - but for its technology, not the currency. Investors who do envision a bright future for the currency will appreciate Second Market’s rebranding as Genesis Trading. The alternative asset broker will now be dedicating investments exclusively to digital currency.

But the crypto markets last week sided with the bankers. Bitcoin prices had their worst performance since mid-March, falling to their lowest levels since early February. Most altcoins also declined in value, amplifying bitcoin’s losses in a behavior signaling Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term’s return to the markets.