Markets Outlook

With Citibank telling institutional clients BTC is a 6-digit moonshot and Fidelity now debunking common bitcoin concerns, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:Record Levels of Negative-Yielding Debt Strengthen Case for Bitcoin: AnalystsWith negative-yielding bonds at a new high, investors are looking elsewhere for returns.Bank of England Official Balks at Shielding Banks Against Digital Currencies: ReportDeputy Governor Jon Cunliffe says protecting bank business models is not BoE's responsibility.Fidelity's Crypto Arm Responds to 6 Common Bitcoin CriticismsFidelity Digital Assets has responded to some of bitcoin's most frequent criticisms citing heightened interest in the cryptocurrency.Citibank Executive Says Bitcoin Could Pass $300K by December 2021A senior executive at U.S. financial giant Citibank has released an internal report drawing on similarities to the 1970s gold market and bitcoin.

With BTC holding above $16K and PayPal services live in the wild,  CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:PayPal Removes Waitlist for New Crypto Service, Boosts Weekly Purchase Limit to $20K All eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency, the company announced Thursday.$300M in Bitcoin Flow to Binance From Huobi as China Gets Tougher on Exchanges The Chinese government cracks down on the crypto exchanges (again), but Binance has been benefiting.Payments Provider BitPay Rolls Out Cryptocurrency Payroll ServiceWith the launch, BitPay now provides a new alternative to crypto payroll services such as BitWage.

With BTC breaking above $16K and DeFi reaching new record highs, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories: Bitcoin Price Breaks Above $16K for First Time in 3 YearsBitcoin's price breaks above $16,000, reaching an almost three-year high.Total Value Locked in DeFi Sector Hits Record $13.6BThe U.S. dollar value of the cryptocurrency liquidity locked up in decentralized finance is surging, buoyed by big gains for some lesser known projects.98% of Bitcoin's 'Unspent Outputs' Are Worth More Than When Made The percentage of bitcoin unspent transaction outputs (UTXOs) in profit recently topped 98%, the highest level since December 2017.US Representatives Rip OCC, Brooks for 'Excessive Focus' on CryptoCongressional Democrats blasted the OCC and Acting Comptroller Brooks for spending time on crypto during a pandemic.

In this special episode recorded live on Wednesday, November 4th, 2020 we'll join independent investment adviser Tyrone Ross as he speaks with Adam Pokornicky, COO of Digital Asset Investment Management; Andy Edstrom, financial adviser and investor at WESCAP Group; and Sunayna Tuteja, head of digital assets at TD Ameritrade.In this hour long session they explain the institutional landscape and how they think about it. They discuss the big questions for financial advisers and professional investors in a jargon-free, transparent discussion. Towards the end of the session they field and answer live questions from registered financial advisors new to the space. This is an episode you won't want to miss.

With analysts looking towards new all-time highs for BTC and newly mined bitcoins finding their way onto the Ethereum blockchain, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:Bitcoin Likely to Consolidate Before December Rise Toward $20K, Say Analysts The bitcoin market is likely to take a breather before continuing its rise toward $20,000 the end of the year, analysts told CoinDesk. Nearly $360M in Bitcoin Moved to Ethereum in October Despite DeFi Cool Off October’s growth is less than half of September’s 68,000 newly tokenized bitcoins.Ethereum Service Providers Experience Issues After Reported Blockchain SplitPlatforms using an older version of the Ethereum client Geth experienced an accidental split of the chain Wednesday morning. Biden Confirms Gensler Will Lead Financial Policy Transition Team Gary Gensler, Simon Johnson and Mehrsa Baradaran are among the policy experts versed in crypto and blockchain issues named to Biden’s transition team.

With a look at BTC's massive 2-month rally and and inflation speculation intensifying, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:3 Reasons Bitcoin Has Rallied Over 60% in Just Two Months We've all watched bitcoin rally sharply since September. But what's driving the bull market?Billionaire Hedge Fund Investor Druckenmiller Says He Owns Bitcoin in CNBC Interview The Wall Street legend still owns far more gold, but said if gold does well, bitcoin will do better.Debate Rages on Whether a Digital Dollar Will Unleash InflationSome speculate that if the Fed implements a digital dollar, soaring inflation will soon follow.  West African Program Will Store Weather Data on a Blockchain Telokanda, a collaboration between Telos and open-source weather tech company Kanda in West Africa hopes to engage local communities in collecting and sharing weather data on the Telos public blockchain. 

With little technical resistance standing between BTC and new all time highs, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:Bitcoin's Weekly Close Above 2019 High Leaves Runway Clear to $20K Bitcoin has closed above last year's high, toppling a final technical barrier on the road to a potential new all-time high.Veteran Investor Bill Miller Says Every Major Investment Bank Will Own Bitcoin or Something Like ItFollowing bitcoin purchases by MicroStrategy and Square, Miller said every major investment bank and high-net-worth firm will eventually have exposure to bitcoin or commodities like gold. Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan ReportIn a research report by JPMorgan’s global markets team, analysts noted that Grayscale Bitcoin Trust’s flow trajectory outperformed gold ETFs.Crypto Lender Cred Files for Bankruptcy After Losing Funds in FraudIn October, the lender published a cryptic letter saying it has experienced “irregularities” in the handling of “specific” corporate funds by a “perpetrator of fraudulent activity.”

With BTC surging past $15K and new blockchain projects out of Spain, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:As Bitcoin Surges, Google Searches Suggest Little FOMO Among Retail Investors Web search data suggests popular interest in bitcoin remains at normal levels, despite a sharp price rally to near $16,000.US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture The seizure on Tuesday, tied to the Silk Road marketplace, is reported to be the largest the U.S. has ever done.Major Spanish Firms Including Santander Unveil Blockchain Identity Project A group of Spanish companies, including banks and energy firms, is working to develop a "self-managed" digital identity system using blockchain technology.South Korean Crypto Firms Must Disclose Users' Identities Under Planned Law Change South Korea's top financial watchdog wants legal changes making it mandatory for cryptocurrency firms to report the names of customers.

With BTC nearing $15K and big industry getting into mining, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com and Nexo.io.Today's stories:Bitcoin Jumps Above $14.5K, Taking 2020 Gains to Over 100% Bitcoin's price jumped to a 33-month high of $14,558 soon before press time, taking the year-to-date gains to 101%.Someone Just Paid a $9,000 Fee for a $120 DeFi Transaction A Reddit user said they accidentally paid a fee 80 times the transaction value while executing a swap on Uniswap.Russian Hydropower Giant Opens Bitcoin Mining FarmEn+, one of the world's largest energy producers, is joining forces with crypto firm BitRiver to open new mining farms in Russia.US Prosecutors Seek 'Substantial' Prison Sentence for Centra Tech Co-Founder in $25M Fraud Token SaleAccording to court documents, U.S. federal prosecutors are asking that one of Centra Tech’s co-founders, Robert Farkas, be sentenced to prison instead of his request for home confinement and community service.

Independent investment adviser Tyrone Ross speaks with Certified Financial Planners (CFP) Justin Castelli and Douglas Boneparth about how they're looking at bitcoin and what they're hearing from clients."My biggest concern is that things move too slowly," said Douglas Boneparth, "The horse is out of the barn. You now have advisers getting flak from their clients on 'why am I not here? You've been telling me you mined bitcoin in 2014 and you ... are generally positive about it. You've also been telling me you can't advise about it. ... And I don't want to hear about the SEC and regulations or other things. You're my adviser, should I have been advised on it?’ There's a tolerance here that other clients are going to have. If you tell them ‘no’ too many times, they're going to tell you ‘no’ by firing you. Right now that seems a little extreme, but if you pan out five or 10 years, you have time on your side to see something like bitcoin or crypto rise...""I don't have a lot of inbound demand," said Justin Castelli, "But I have a weekly email that I've refined and sent to clients. I'm going to start putting some information in there because I don't know how many of my clients realize i've spent a lot of time researching it, that I know about it, that I personally do some investing in it on my own. I want them to feel comfortable coming to me, knowing that I know about it.""But Interestingly enough," he continued, "Yesterday I was doing a review with a 58- and 59-year-old couple. They have a lot of cash, wondering, 'what can we do?', and they saw my StockTwits bitcoin, litecoin, ripple on [the wall of my office], and the wife said she'd heard about bitcoin and asked [me] about it. She was actually very interested in learning more because they have more than enough in equities. They're at a point now where they could afford to do this if they understand it. She's like, 'I really like the sound of this, I want to learn more.' Whether or not she actually does it, I don't know, but it was very interesting because you'd think it'd be my younger clients who get more excited about it but yesterday it was a retiree, a former teacher at that, who was interested in it."Advisors learn for free:The goal of Bitcoin for Advisors is to equip investment advisors with tools to better understand bitcoin, talk to their clients about bitcoin and to work bitcoin into their businesses. We’re working closely with professional advisors to build out a program that is timely, valuable and actionable for the financial advisor community, and presented in a manner that is targeted and relevant to their interests.Through a series of keynotes, panels and interactive roundtable sessions, we will discuss investment theses for bitcoin, why younger demographics are turning to this asset and how it fits into the current global macroeconomic picture. We will also walk through the practicalities: how to answer client questions about bitcoin, how to talk to your compliance department about bitcoin and how bitcoin can help grow your book. Advisors will walk away from this virtual event with a grasp of how bitcoin fits into the world and their businesses.