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Criticism of BIS, chips from SBI Group, capitalization of Bakkt

03/25/2019
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  • bank_cryptocurrency
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The head of BIS again declares the threats of cryptocurrency, SBI Group creates a division for mining. Investors estimated Bakkt's value at $ 720 million.

World Bank for International Settlements vs cryptocurrency

The head of the Bank for International Settlements spoke against the introduction of cryptocurrency. Agustin Carstens said that credit institutions should not issue their own stablebcoins, as this goes against banking rules and beliefs.

According to a BIS official, these financial instruments can undermine the stability of the entire monetary system. Agustin Carstens is an ardent opponent of cryptocurrencies, and has repeatedly called them a bubble. Perhaps his speech was provoked by the actions of the largest banks in the world, which have already announced the creation of their own stablecoins.

Conflicts of interest in the cryptocurrency sphere mature

World Bank for International Settlements vs cryptocurrency

SBI Group is interested in mining chips

SBI Group, one of the largest financial corporations, creates a subsidiary of SBI Mining Chip Co., Ltd. (SBIMC). It will be engaged in the development and release of chips for mining cryptocurrency. The project manager will be Adam Traidman, who until then had worked in the US "Silicon Valley".

Prior to this, the SBI Group also conducted cryptocurrency mining operations. However, they were conducted exclusively with the help of foreign partners. Now it wants to independently engage in the development of the technological chain and take under the complete control the process of creating equipment for mining.

SBI Group is interested in mining chips

Bakkt OTC platform valued at $ 740 million

Intercontinental Exchange, the founder of the Bakkt trading platform, held a second round of fundraising. As a result, its value was estimated at $ 740 million. According to experts, the company managed to sell about 25% of its shares, receiving about $ 182.5 million. Giants such as Microsoft, Starbucks, Galaxy and Pantera were among the buyers of the securities.

Investors understand that this is a very risky investment. Therefore, the terms of placement allow the right to redeem shares in case of a project failure Bakkt platform is one of the most expensive in the cryptocurrency market, but it has a number of achievements. It is supported by CFTC representatives, and with its help in Starbucks coffee shops one can pay for cryptocurrency for small purchases.

Bakkt OTC platform valued at $ 740 million

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