How Crypto Company IPOs Could Incite Retail Investor FOMO
A perfect storm of ICOs, Bitcoin, and an emerging finance industry full of unknown tech born from mysterious figures helped crypto soar in 2017. Eventually, the bubble inflated too large and ultimately burst. There hasn’t been quite the same level of FOMO since.
That all could change if more crypto companies go public over the next two years and bring more mainstream interest to the space.
One month ago, rumors began to circulate that San Francisco-based Coinbase was preparing a stock market listing worth $8 billion. Criticism began to swirl around how ironic an IPO would look for the crypto-focused firm, rather than launching as tokenized shares in some capacity.
As an emerging industry leader, they should be seeking to set trends, not adhere to past traditions.
While the development has yet to be confirmed, a public listing for the cryptocurrency exchange is inevitable. The young industry hopes to someday mature and be respected amongst other financial markets in the same manner.
The added visibility and legitimacy of crypto firms being listed publicly will do wonders for raising the industry out from the shadows of the internet and its origins from the dark web.
The number of #crypto companies listed on public markets will increase considerably in late 2020 and through 2021.
If the public mkt debuts coincide with an accelerated bull market, there likely will be a substantial increase in retail FOMO into the space. https://t.co/uO0jcZFtSP
— John Todaro (@JohnTodaro1) August 4, 2020
And as more and more firms follow this trend, late in 2020 and all through 2021, it could accelerate any bull market and cause a “substantial increase in retail FOMO” says former Wall Street bond trader and Head of Research at TradeBlock, John Todaro.
BTCUSD FOMO Levels | Source: TradingView
The added visibility and hype surrounding not only cryptocurrency brands, but a renewed bullish momentum around the assets themselves could yet again create a perfect storm for the asset class.
FOMO and irrational exuberance during the 2017 bubble drove asset valuations to exorbitant levels. Valuations are now much higher than before the last bubble, and cryptocurrencies are no longer an unknown form of futuristic financial tech.
The negative stigma associated with the bubble has slowly been shed, and new narratives are developing.
Institutions, hedge funds, and more are finally taking note of the cryptocurrency industry. This type of high wealth investor has recently begun to dip their toes into the space, and a boom in crypto companies going public could further attract institutional interest.
Todaro expects a “number” of these crypto companies to eventually be listed throughout the next year and a half, and it could help strengthen any uptrend the market has started.
If Bitcoin breaks above $20,000, and retail investor FOMO fully returns, coinciding with a new digital gold rush from smart money investors, any new uptrend could lead to astronomical prices.
Author: Tony Spilotro
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Twitter Hack Shows That Crypto Is Easier to Investigate Than Fiat, Say Industry Law Experts
During an Aug. 4 panel on legal compliance within the cryptocurrency industry, major figures noted recent shifts in public perception of the industry, pointing to arrests within weeks of the Twitter hack as an example of how effective blockchain analytics can be for solving crime.
The panel is part of an ongoing series from the Association of Certified Financial Crime Specialists.
Lana Schwartzmann, chief compliance officer for Paxful, said regarding the Twitter hack “It’s quite amazing how different this is from what we’d see in the traditional fiat world. You’d never have this resolved so quickly.”
Also speaking about Twitter, Coinbase’s chief compliance officer Jeff Horowitz agreed that it was part of a shifting narrative around crypto: “The story quickly changed to ‘how is crypto partnering with law enforcement to track this issue?’”
Horowitz continued to describe major improvements to conversations about regulation and crypto over the course of “maybe the past one to two years.”
Jonathan Levin, a co-founder of Chainalysis, a firm that helped track the Bitcoin in the Twitter hack to 17-year-old Graham Clark, compared the estimate of $10 million laundered in Bitcoin each day to the total amount moving on the blockchain: “There’s more than a billion dollars moved on the bitcoin blockchain per week, so this is still a very small amount of value compared to what is being moved on the blockchain.”
Institutions, said Levin, are very engaged in weighing how to onboard crypto, but noted that “This is not a when or an if, this is a how.” An audience poll during the panel found lack of regulatory guidance to be the primary barrier to financial institutions working with crypto.
Source: ACFCS FinCrime Virtual Week
Levin also spoke at length about North Korea’s famous Lazarus Group as an example of law enforcement getting better acquainted with crypto technologies. Just in March, the U.S. Treasury sanctioned two Chinese nationals and their associated crypto wallets for providing off-ramps for Lazarus Group’s stolen crypto.
Russia’s Biggest Bank Considers Launching its Own Stablecoin
Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives.
Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s banking giant is thinking of issuing its own stablecoin that could be pegged 1:1 to the Russian ruble, local news agency Kommersant reports on Aug. 4.
According to the report, the potential stablecoin could be used for settlements involving other digital financial assets. Popov reportedly noted that Sberbank would be able to issue the token in accordance with the recently passed crypto law called “On Digital Financial Assets,” or DFA.
The exec said:
“We probably may issue a stablecoin on the basis of the law that has been adopted recently. As we can peg this stablecoin to the ruble, this token could become a basis or an instrument for settlements involving other digital financial assets.”
The news comes soon after Russia’s President Vladimir Putin officially signed Russia’s DFA bill into law on July 31. By signing the bill, Putin prohibited Russian residents from making payments in cryptocurrencies like Bitcoin (BTC) starting from Jan. 1, 2021. First initiated in 2018, the DFA law reportedly legalizes crypto-to-crypto exchanges, buying and selling, as well as loans in crypto.
Sberbank is known for its crypto-related initiatives. In May 2020, Cointelegraph reported that Sberbank was spending more than $100 million on 5,000 blockchain-enabled ATMs that are capable of mining crypto. In November 2019, Sberbank also pioneered a blockchain solution for repurchase agreements, also known as repo.
In May 2019, Sberbank had to suspend a crypto initiative due to the negative stance on Blockchain assets held by the central bank.
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Arbitly Releases World’s FIRST Ubiquitous Cloud-Based Platform for Crypto Arbitrage Trading
TORONTO, Aug. 04, 2020 (GLOBE NEWSWIRE) — Recently, Arbitly released its Cloud-Based Platform for Crypto Arbitrage Trading. Arbitly is the world’s leading Ubiquitous cloud-based platform for cryptocurrency arbitrage trading. Arbitrage trading is one of the safest and risk-free investment vehicles the world over. Dealing with Arbitly means, users are dealing with the most-trusted arbitrage-trading platform.
Since January 2020, the company has been operating as a full-fledged trading platform after its final testing was done in December 2019. Arbitly allows both newbies and experienced traders to execute trades with just a few clicks. Arbitly guarantees the redistribution of funds which hitherto goes to exchanges in the form of commissions, deposit, and withdrawal fees. This approach has increased traders’ confidence and helped to boost their trading profits.
Arbitly is developed by a team of technocrats knowledgeable in the operations of the arbitrage trading space, and how to break the barriers that have impeded success for many traders over the years. Alexander Black, who is the founder and Chief Executive Officer, leads the team.
Arbitly Cloud & Cloud+ Feature
Arbitly is equipped with top-notch features, including Arbitly Cloud which serves as a medium for traders to connect with two or more exchanges for manual trading, and Arbitly Cloud+ which traders or investors can leverage to manage their asset portfolio and trading activities on auto-pilot. The team behind this project has done all the heavy-lifting for users to maximize their earnings off the crypto arbitrage market quickly.
Arbitly Boost Package
Besides these amazing features, Arbitly is integrated with the Boost feature, which can only be unlocked after a monthly subscription. Plus, they have a reliable and dedicated support staff that is always on the ground to resolve all complaints within the shortest possible time. If users are struggling to access Arbitly services, feel free to reach out to the support staff for immediate resolution.
Arbitly Affiliate Program
Furthermore, in a bid to reward traders and investors, Arbitly has an affiliate program that users can be part of to earn bitcoins. Referring friends or family members, users could get 15 percent commission for promoting Arbitly.
Arbitly is a leading crypto arbitrage trading platform. The mission of Arbitly is to eliminate the problems seemingly inherent in the crypto arbitrage space. The company operates through different exchanges, making it easy for traders to manage their portfolio from a single location. The team behind Arbitly has assured that more exchanges would be added on a regular basis.
Further information at: https://arbitly.io
Support Contact: [email protected]
Company: Arb Signals Ltd.
Contact: David Abraham
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47e8e4eb-1ba1-4ea6-93bd-51f09253fe75