Blockchain News 25.05.2018

Mike Novogratz: US Gov investigation into Bitcoin is a good thing

Billionaire investor Mike Novogratz said he’s not surprised by the allegations and welcomes the investigation, a sentiment echoed by Cameron Winklevoss, president of crypto exchange Gemini. Wall Street’s biggest Bitcoin bull praised the move as the start of needed regulatory oversight.

“Weeding out the bad actors is a good thing, not a bad thing for the health of the market,” Novogratz, who is setting up cryptocurrency merchant bank Galaxy Digital LP, said in an interview. “Plenty of exchanges have these inflated volume numbers to create some sense of excitement around coins,” he said, citing his own experience trying to trade.

“We welcome any inquiry that serves to foster rules-based marketplaces and deter bad actors,” Winklevoss, president of the Gemini exchange, said in a statement.

Kraken hires Bush administration prosecutor as general counsel

San Francisco-based cryptocurrency exchange Kraken has hired a former federal prosecutor appointed by President George W. Bush to serve as its general counsel.

Business Insider reports that the exchange, eighth-largest in the world with a daily volume of just under $350 plhom, has hired Mary Beth Buchanan, the first woman and youngest-ever person appointed US Attorney for the Western District of Pennsylvania.

20% of financial institutions considering crypto trading services in 2018 according to Reuters survey

Ontario based financial information firm Thomson Reuters released survey results showing growing interest in the cryptocurrency market.

Thomson Reuters surveyed 400+ clients and found that one-fifth of them are planning to offer cryptocurrency trading services in the next 12 months, due to a significant increase in the number of requests from traders, which is “a major change.”

Blockchain News 25.05.2018

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