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Members Area Crypto Daily April 9 · Issue #633

Crypto Daily April 9 · Issue #633

April 9, 2020

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER

April 9 · Issue #633

Crypto’s market capitalization is fat overnight, however cash (BCH) slid following its halving yesterday yesterday Galaxy reports improved earnings based on increased value of digital assets

Overstock to release digital dividend in May The Headlines Quiet day in the world of governmental crypto news…

Galaxy Digital Reports Q4 and Full Year 2019 Financial Results

WWW.NEWSWIRE.CA

Galaxy Digital reported total revenue for the year ending December 31, 2019 of CAD$132 million driven by a gain on digital assets holdings. Income was positive at CAD$25 million. This compares to a loss in 2018 of CAD$272 million. Net book value per unit increased 11% to CAD$1.62. Assets under management ended the year at $357 million and the company invested $48 million in 10 new and 20 follow-on investments. Galaxy is continuing to repurchase shares.

Overstock to Release Digital Token in May

WWW.SEC.GOV

Overstock (NASDAQ: OSTK) announced the dividend date for its digital series preferred stock dividend (security token) will be April 27th and it will airdrop the token to shareholders on May 19th. Crypto Executives Make Forbes Billionaires List

WWW.FORBES.COM Forbes released its annual list of the Billionaires and four people were identifed as having made their wealth from “” and “cryptocurrency mining chips”. The four people are Riplpe’s Chris Larson (804), CEO Brian Armstrong (1990) and ’s Chinese co-founders and warring-partners Jihan Wu (1196) and Micree Zhan (616). Dropping from this year’s list are CEO Changpeng Zhao and ConsenSys’ Joe Lubin.

Market Data

Bitcoin Cash Miners Jump After Halving

WWW.NEWS.BITCOIN.COM (BCH) started the quadrennial halving yesterday with bitcoin SV (BSV) expecting to halve around 10PM eastern tonight. BCH’s mining award has now decreased from 12.5 to 6.5 BCH. BCH miners have jumped overnight driving BCH’s hashrate down 21% to 2.8 Ehash/s, while increasing BSV’s hashrate up 26% to 3.3 Ehash/s. Bitcoin’s (BTC) hashrate is basically unchanged at 108 Ehash/s showing miners are still supporting the original cryptocurrency. BTC is expected to halve around May 11th.

Blockchain Transaction Volume Spiked in Q1

WWW.DAPP.REVIEW Dapp Review issued their Q1 Market Report stating total transaction volume on the 13 it tracks reached $7.9 billion, an increase of 82% over the same period last year. The major three protocols, Ethereum, TRON and EOS, contributed over 99.1% of the total volume, but out of the three, only Ethereum had year-over-year growth, TRON and EOS both sufered decreases in users and transaction volume.

Exchange, Custody and Product News

Abra Transitioning All Assets to a Custodian

WWW.ABRA.COM Abra announced it will transition all assets” to a hosted environment provided by a qualifed custodian,” this will include previously non- custodial assets like BTC, LTC, BCH and ETH. The crypto trading app said the new feature will lead to faster confrmation of trades and improved user experiences.

Coinbase Updates Trading App

WWW.BLOG.COINBASE.COM Coinbase has updated its app making it easier to send and receive digital currencies. The user interface has been simplifed allowing customers to switch more easily between currencies and initiate a transaction with an action button regardless of where they are in the app.

Judge Rules in Favor of Crypto Holders in Cryptopia Bankruptcy

WWW.TWITTER.COM A New Zealand Judge ruled in the Cryptopia bankruptcy that digital currencies are property and were owned by individual account holders. They are therefore not assets of the company and will not be liquidated to creditors. Cryptopia fled for bankruptcy protection last summer.

Huobi to Relaunch in US Exchange

WWW.COINDESK.COM expects their digital exchange to be back operating in the US very soon, four months after announcing its US exchange would stop operations. Representatives from Huobi says the exchange will to relaunch in partnership with a locally licensed trading platform.

Thoughts on the Ecosystem

Halving Will Beneft From Macro Events to Drive BTC Pricing

WWW.FINANCIALMIRROR.COM Nigel Green of deVere Group expects bitcoin (BTC) to “surge” following the upcoming halving, but expects other efects to impact its positive move. The CEO of the fnancial advisory group explained, “we’re moving towards an era of zero-interest rates. This reduces the incentive to keep fat currency. In addition, rate cuts typically lead to higher infation, which reduces the purchasing power of traditional currencies… Therefore, Bitcoin, and other decentralised , become more attractive and the price will adjust upwards accordingly.” BitDigest is a weekday news update on digital currencies and technology distributed by Parsons & Whittemore, a single-family ofce based in Rye Brook, New York. It is being distributed to subscribers of FSInsight Digital Assets under agreement with the Author. The commentary, analysis, opinions and recommendations in this newsletter represent the personal and subjective views of the Author, and are subject to change at anytime without notice. The information provided in this newsletter is obtained from sources which the Author believes to be reliable. However, the Author has not independently verifed or otherwise investigated all such information. Neither the Author, FSInsight nor any of their respective afliates make any guarantee or other promise as to any results that may be obtained from reading this newsletter. While past performance may be analyzed in this newsletter, past performance should not be considered indicative of future performance. No reader should make any investment decision without frst consulting his or her own fnancial advisor and conducting his or her own research and due diligence. BitDigest is not making a solicitation or ofer to buy or sell any securities of any kind.

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER

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