Bitcoin Picks: BitYes Rolls-out Margin Trading & Another Bitcoin Exchange Plans to go Public
by
Adil Siddiqui
The world of virtual currencies welcomed news of a Canadian exchange that plans to go public, coupled with a new venue for leveraged instruments. Some of the key stories from this week’s Bitcoin Picks.
Developments continue in the growing virtual currency space. This week saw a flurry of positive news for participants that support the sector, among the stories published on DCMagnates.com we saw a Canadian exchange announce its plan to go public and a US venue that launched a margin Bitcoin trading exchange. In addition, a new SEC filing showed that Overstock.com invested in a regulated broker to develop cryptocurrency trading solutions. Continue reading this week's Bitcoin Picks for all the top stories.
New Margin Trading Venue as BitYes Launches Exchange
US Venue Huobi’s USD-based exchange, BitYes, has launched margin trading and p2p lending. Leverage will be 3:1, at an interest rate as low as 0.01% per day. In the p2p lending feature, users will offer loans at their desired interest rates, which can be used by traders in the margin offering. The setup is similar to the margin/interest earning scheme of BitVC and its related Yubibao product.
Canadian Bitcoin Exchange Newnote Financial Vows to Go Public
Another Canadian Bitcoin exchange will be going public after Newnote Financial Corp acquired Cointrader.net for CAD $1.5 million ($1.18 million) in cash and stock.
Newnote Financial, formerly Winrock Resources, engages in a variety of cryptocurrency related ventures. It is publicly traded on the Canadian Securities Exchange (CSE), a rough equivalent of the US OTC markets, where it has also traded. It is also listed on the Frankfurt Stock Exchange. It currently trades at CAD $0.19 per share for a total valuation of CAD $5.77 million.
Tera Exchange’s Proposed Collaboration with MGT Capital Crosses Merger Deadline
In a groundbreaking proposal that would secure the first regulated trading exchange for digital currencies the venue in question faces hurdles. The reverse merger agreement that would have taken Tera Exchange public has hit a roadblock.
Tera’s Bitcoin derivative platform was approved by the US Commodity Futures Trading Commission (CFTC) last year, though the derivative products themselves have yet to be approved. Its transformation into a publicly traded company may help further instill investor and user confidence in the platform, which would be subject to greater regulatory oversight and reporting requirements.
MGT Capital is a holding company whose subsidiaries engage in online and mobile gaming. It is traded on NYSE MKT, formerly the American Stock Exchange, worth $0.43 per share and having a total market cap of $6 million.
Regulation Is Key as Overstock Aims to Create New Virtual Currency Products With Stake in Broker
Overstock.com says it has acquired a 24.9% stake in an unnamed “registered broker-dealer” as part of efforts to “develop and license software to trade crypto-securities using the Bitcoin network and its protocols.” The company paid $250,000.
The revelation was made in Overstock’s 10-k annual report filing with the Securities and Exchange Commission (SEC) on March 12.
A passionate supporter of Bitcoin and vocal critic of Wall Street, Overstock’s Patrick Byrne announced intentions to create a registered marketplace for “crypto-securities” last year. Dubbed the “Medici” project, the aim is to “democratize Wall Street” and remove the middleman in securities trading, much like Bitcoin is envisioned for the movement of money.
Developments continue in the growing virtual currency space. This week saw a flurry of positive news for participants that support the sector, among the stories published on DCMagnates.com we saw a Canadian exchange announce its plan to go public and a US venue that launched a margin Bitcoin trading exchange. In addition, a new SEC filing showed that Overstock.com invested in a regulated broker to develop cryptocurrency trading solutions. Continue reading this week's Bitcoin Picks for all the top stories.
New Margin Trading Venue as BitYes Launches Exchange
US Venue Huobi’s USD-based exchange, BitYes, has launched margin trading and p2p lending. Leverage will be 3:1, at an interest rate as low as 0.01% per day. In the p2p lending feature, users will offer loans at their desired interest rates, which can be used by traders in the margin offering. The setup is similar to the margin/interest earning scheme of BitVC and its related Yubibao product.
Canadian Bitcoin Exchange Newnote Financial Vows to Go Public
Another Canadian Bitcoin exchange will be going public after Newnote Financial Corp acquired Cointrader.net for CAD $1.5 million ($1.18 million) in cash and stock.
Newnote Financial, formerly Winrock Resources, engages in a variety of cryptocurrency related ventures. It is publicly traded on the Canadian Securities Exchange (CSE), a rough equivalent of the US OTC markets, where it has also traded. It is also listed on the Frankfurt Stock Exchange. It currently trades at CAD $0.19 per share for a total valuation of CAD $5.77 million.
Tera Exchange’s Proposed Collaboration with MGT Capital Crosses Merger Deadline
In a groundbreaking proposal that would secure the first regulated trading exchange for digital currencies the venue in question faces hurdles. The reverse merger agreement that would have taken Tera Exchange public has hit a roadblock.
Tera’s Bitcoin derivative platform was approved by the US Commodity Futures Trading Commission (CFTC) last year, though the derivative products themselves have yet to be approved. Its transformation into a publicly traded company may help further instill investor and user confidence in the platform, which would be subject to greater regulatory oversight and reporting requirements.
MGT Capital is a holding company whose subsidiaries engage in online and mobile gaming. It is traded on NYSE MKT, formerly the American Stock Exchange, worth $0.43 per share and having a total market cap of $6 million.
Regulation Is Key as Overstock Aims to Create New Virtual Currency Products With Stake in Broker
Overstock.com says it has acquired a 24.9% stake in an unnamed “registered broker-dealer” as part of efforts to “develop and license software to trade crypto-securities using the Bitcoin network and its protocols.” The company paid $250,000.
The revelation was made in Overstock’s 10-k annual report filing with the Securities and Exchange Commission (SEC) on March 12.
A passionate supporter of Bitcoin and vocal critic of Wall Street, Overstock’s Patrick Byrne announced intentions to create a registered marketplace for “crypto-securities” last year. Dubbed the “Medici” project, the aim is to “democratize Wall Street” and remove the middleman in securities trading, much like Bitcoin is envisioned for the movement of money.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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