Chicago Becoming A Hot Spot For Crypto ATM

It has been recently reported that Chicago is about to receive 30 additional cryptocurrency ATMs.

The company behind this initiative is Lux Vending which plans to launch the crypto ATMs under their brand called Bitcoin Depot.

The machines will enable customers to trade physical dollars for Bitcoin, Ether and other digital assets.

The Bitcoin Depot will join other thriving ATM within the city such as Red Leaf Chicago which owns 60 of the city’s ATMs.

This represents 30% of the company’s 200 machines scatter all around the U.S.

There is also a crypto ATM startup, Athena Bitcon which has around 3 ATMs at the moment in Chicago.

The last player might not be as impressive network of ATM in Chicago but it has been concentrating on expanding abroad.

While the increasing number of Bitcoin ATM is shure to be good news to the cryptocurrency community it might not be such a good way to on-board new users to the platform.

This is due to the high transaction fees each of this ATM charge its clients each time a transaction is made.

It is not unheard of Bitcoin ATM service providers charging 5-10% per transaction.

CME Releases New Futures Contracts Amidst Bitcoin Price Fall

According to a news article online the opening of the new CME futures contract may have had an effect on bitcoin’s price.

Tom Lee, a research analyst at Fundstrat Global, have suggested in the past that Bitcoin futures might be manipulating the price of Bitcoin.

The same sentiment was aired by Justin Saslaw at Raptor Group which said that there are dramatic price changes around CBOE futures expirations.

Pundits have observed 18% decrease of Bitcoin price in the 10 days prior to CBOE contract expirations.

The effect of these contracts should only be psychological as CME and CBOE future don’t have anything to do with the actual underlying asset Bitcoin as it is settled in dollars.

It seems that the Wall Street bankers are buying and selling actual bitcoin so as to influence the price of futures or vice versa.

Due to the artificial nature of CME and CBOE bitcoin futures contract the crypto community is have been waiting for financial product offering such Bakkt’s Bitcoin settled regulated futures which might bring more liquidity into the space where in Bitcoins a truly used.

UAE-Saudi Arabian Crypto “Aber” To be Used By Banks Only

It has been reported that the name of the interbank digital currency that the United Arab Emirates and Saudi Arabia will be called Aber.

This was announced by each country’s monetary authority; The United Arab Emirates’ Central Bank (UAECB) and the Suadi Arabian Monetary Authority (SAMA).

It was revealed January 29th.

They also revealed that the new digital currency will be limited to financial settlements using distributed ledger technology (DLT) which will be probationary and be available to a limited number of banks in the two countries.

The initiative is said to fall within a proof-of-concept framework with the aim of studying the dimensions of the emerging technology and its feasibility by assessing its impact, effectively and its associated risk of the tech.

It has not yet been known when the pilot of the program will start but it is clear that the proponents of the project will focus on the technical aspect of the project.

Moreover, if there are no technical obstacles encountered during the test, they will consider the economic and legal requirements for future uses.

BitTorrent Token Sale Sold Out Within Minutes Despite The Absence Of US Investors

Binance launch pad was able to successfully conclude the BitTorrent Token sale by Tron within minutes when it was offered.

This is despite the fact that U.S. Citizens were not allowed to participate in the token sale as the activity might be considered an unregistered security in the future.

According to the CEO of Binance the demand for the token sale was overwhelming for the exchange and deemed it success.

The Token sale was conducted through two sessions.

One session used the local utility token of Binance, BNB and the other one used TRON’s cryptocurrency Tronics.

BNB session sole all 2376 billion BTT within 13 minutes and 25 seconds while the TRON session sold it out in 14 minutes and 41 seconds.

This is a pretty impressive accomplishment during a bear market.

BitTorrent is a widely used peer-to-peer file sharing protocol which was acquired by Tron in the summer of 2018.

BTT will work as an optional tool in the BitTOrrent System to incentivize good file-sharing practices.

Currently there are around 100 million users of Bittorent around the world and is being used in 138 countries.

This would be great exposure for the token and a nice way to on-board new people to crypto space.

Hong Kong Dollar-Pegged Stable Coin Launched By Bitspark

Bitspark, a Hong Kong-based money transfer platform has launched the first ever Hong Kong Dollar-pegged Stablecoin.

This was reported by a local online financial news agency last January 29, 2019.

SparkDex is a decentralized exchange by bitspark where it launched its SparkDex.

HKD stablecoin which will be the stablecoin medium of value transfer.

According to its CEO George Harrap US Dollars stablecoins have dominated the market but there are other national currencies in the world which can serve the same purpose.

The company hopes that with its current offering it would help the much needed diversity among other currencies within the stablecoin sector.

The sector has grown exponentially in the last two quarters of 2018 with several major exchanges rushed in to support the various digital assets.

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