This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. Investment banking behemoth Goldman Sachs is considering introducing a new trading operation for Bitcoin and other major cryptocurrencies, according to anonymous sources cited by The Wall Street Journal. Goldman’s currency trading and strategic investment divisions are said to be involved in the venture, but the project is still at a very early stage and isn’t guaranteed to go…"Goldman Sachs ponders Bitcoin trading"
Goldman Sachs is flirting with the idea of setting up a bitcoin trading shop. The Wall Street powerhouse is in the very early stages of potentially setting up a bitcoin trading operation, according to a report by The Wall Street Journal’s Paul Vigna, Telis Demos, and Liz Hoffman. “In response to client interest in digital currencies we are exploring how best to serve them in this space,” a Goldman spokeswoman told The Journal. If Goldman follows…"Goldman Sachs is flirting with bitcoin trading (GS)"
A 29-year-old high school drop out from the United Kingdom is hauling in hundreds of thousands of dollars trading risky cryptocurrency derivatives. Jay Smith believes a cryptocurrency crash is inevitable, but right now he’s the No. 1 trader of digital coins on online brokerage eToro, amassing thousands of followers who are copying his trades, according to Bloomberg’s Edward Robinson. Smith, who lives in a London suburb, makes speculative bets on the prices of cryptocurrencies like bitcoin…"A high-school dropout is making hundreds of thousands of dollars trading cryptocurrency derivatives"
JPMorgan Chase has been routing customer orders for bitcoin-related instruments, a spokesman said on Monday, despite the bank’s chief executive calling the crypto currency “a fraud.” Like other Wall Street banks, JPMorgan acts as an agent for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value of the crypto currency…. bitcoins | New York Post"JPMorgan trading bitcoin for clients despite Dimon’s ‘fraud’ rant"
The stock market is having a good year. Bitcoin is having a better one. The crypto sector is in the middle of a wild bull run sparked by the emergence of the so-called initial coin offering and a surge of trading in Japan and South Korea. As of Friday, the digital currency was up 352% year to date. Only four U.S.-listed stocks have had a better performance: PolarityTE, up 735%, AVEO Pharmaceuticals, up 604%, Straight Path…"Bitcoin, Valued Like a Cool Blue Chip, Trading Like a Hot Small Cap"
Now that’s a pretty penny-stock. US regulators on Thursday halted trading in a Canadian bitcoin company that had surged more than 6,000 percent this year. The Securities and Exchange Commission said it has concerns that the company, First Bitcoin Capital, wasn’t telling the whole truth about what it owns and how it’s structured. First Bitcoin,… bitcoins | New York Post"SEC halts trading of secretive bitcoin stock"