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SEC moved the decision on Bitcoin-ETF, The Block investigated cryptocurrency exchange commissions. From April 9, Bitmain launches Antminer17 sales.
Once again, the Securities and Exchange Commission decided to postpone the decision on Bitcoin-ETF. The application from Bitwise was filed on February 15, and VanEck and SolidX filed it in the spring of 2018. However, due to the government’s shutdown, it was withdrawn, and it was submitted again only at the end of January.
The commission has the right to consider applications within 240 days, but every six weeks it must make an interim decision. Experts believe that sooner or later the SEC will approve the appearance of this financial contract. However, now the authorities adhere to an extremely conservative position and delay the pronouncement of the verdict.
Why SEC changed decision again
As the Block Agency’s research showed, on average trader pays 0.44% for a transaction at a cryptocurrency exchange. Moreover, the spread of value reaches colossal dimensions. The maximum fee is at the Gemini site: for each operation it takes 2% of turnover. And the itBit exchange is ready to pay extra to its customers in order to attract additional liquidity to trading.
It seems that one of the most popular venues, Binance, holds the balance best. It takes about 0.4% per transaction, which is close to the minimum threshold. According to experts, in the near future, increasing competition will force trading platforms to reduce commission fees. So, the company Huobi in 2018 was able to earn about $ 500 million from them. Moreover, the amount of profit depends little on the market, it is not afraid of ups or downs.
The company Bitmain on April 9, scheduled to release a new line of miners from the Antminer S17 series. After this date, customers will be able to purchase a device that is 30% more efficient than the previous generation. They will use a 7nm chip, which will reduce energy consumption while increasing the hashrate.
Now the company is in a difficult financial situation. It was once again unable to reach the ICO, and some investors want to return the funds through a judicial procedure. Therefore, the launch of the new line of ASIC-miners can somewhat improve the situation. In addition, it plans to place on its new farms up to 200,000 pieces of equipment of the previous generation.