Goldman Sachs Open to Trading Bitcoin

One of the most storied name in Wall street Banks, Goldman Sachs is said to be making plans on beginning to trade bitcoin with its own money.

With this new initiative clients can trade with the Bank a variety of future contracts linked to the price of Bitcoin.

Rana Yared, one of the Goldman executives overseeing the creation of the trading operation, said that the Goldman as concluded that unlike what other believes in Wall Street bitcoin is not fraud and does not have the have the characteristic of a currency.

It is more of a commodity similar to gold with limited supply and could have more value in the future. Actual date of the start of the said bitcoin trading operation has not been set at press time.

Reddit Co-Founder Sees Ethereum Price Reaching $15,000 This Year

Alexis Ohanian, co-founder of Reddit, had made a bold prediction that Ethereum could reach the price of $15,000 in 2018 which means its market capitalization will reach trillions of dollars and a possibly usurping bitcoin as the world’s biggest cryptocurrency in terms of market cap.

This means that Ethereum will surge to a $1.5 trillion market from $67 million in just a few months and bitcoin will recover or exceed its previous all-time high.

In an interview with Fortune he reveals that he still hold a little bitcoin but more bullish on Ethereum because people are actually building on it.

Japanese Financial Giant To Launch Cryptocurrency Exchange

Local news outlet in Japan, Business Insider Japan, reported that the CEO and President of SBI Company claimed that it will be able to evolve its cryptocurrency exchange into the premier digital currency trading platform that would dominate the market.

Banks and financial institutions are entering the cryptocurrency market to dominate it or make a quick bucks but instead they have acknowledged that this type of venture makes more money than banks.

It is expected that the SBI Launching of Cryptocurrency Exchange will target large-scale traders and retailers then will gradually target individual investors.

Two Dubai Government Entities Reveals Blockchain Commercial Registry

Dubai Blockchain Business Registry Project is an initiative of the Department of Economic Development (DED) and Dubai Silicon Oasis Authority (DSOA) which was developed in collaboration with Smart Dubai and IBM that is aimed to facilitate and make more efficient the ease of doing business in Dubai and assist foreign direct investments.

With this project, the Dubai authorities hope to streamline setting up and operating business and ensure regulatory compliance.

The said initiative is said to be part of Dubai Strategy which was launched in 2016 by crown prince of Dubai and Chairman of the Executive Council of Dubai.

Coinbase Valuation Is Now As High As $8 billion

Coinbase as estimated themselves to be worth as high as $8 billion USD.

This was revealed through the negotiations of Coinbase of Earn when the former was trying to convince the owners and founders of Earn to self-off their stake to Coinbase.

The acquisition was valued at $100 million USD and was consummated last month.

Some may doubt the incredible rise in the valuation of the company because it was internally-based, it might be interesting to note also that the company is offering to buy back its own stock at prices that would bring the value of the exchange to $4.5 billion to $6 billion.

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