Exchanges Told To Hand Over Data By CFTC For Bitcoin Price Control Investigation

The U.S. Commodity Futures Trading Commission (CFTC), the government entity that is responsible for regulating CME (The Chicago Mercantile Exchange) and all of its activities has issued subpoenas to four key exchanges where CME products derive Bitcoin Price.

These exchanges include Coinbase, Kraken, Bitstamp and itBit.

This was a result of the refusal of the said four exchanges of sharing their data with CME who was investigating rumored price manipulation activities.

This also raised question why CME does not have agreements in place to demand such information that would make it easier to share trading data and avoid subpoenas.

Nevertheless drama aside it only shows that there is a common desire to further legitimize cryptocurrencies as a whole.

SAP Launched A Blockchain Platform

The German software giant has recently announced that it is launching a Blockchain platform that will facilitate the development of Blockchain enterprise solutions.

This Blockchain-as-a-service platform will enable developers to build enterprise-level Blockchain applications.

The company also reveals that its platform will support hyperledger fabric and multichain.

With this announcement they also reveal that they are also releasing emerging technology products such as artificial intelligence, big data analytics and machine learning.

Their Blockchain platform will enable developers to explore the potential of Blockchain and enable them to extend existing application with blockchains or develop new applications.

The aforementioned platform will be able to connect to SAP HANA, an in-memory data management cloud platform that will allow users to integrate analytical abilities into their Blockchain applications.

Indian Banks Joins Blockchain Initiative

It has been reported that several banks (14 banks) from India have joined India Trade Connect, a six months old Blockchain consortium that seeks to facilitate processing of loans faster using a decentralized protocol.

Bloomberg reveals that these member banks account for more than half of the country’s internal trade volume. Internal banking processes in India is very tedious and paper-intensive, through the said initiative they hope to shorten process that takes several weeks to do into just a day.

The organization has hired an Indian multinational technology giant based in Bangalore, Infosys which deals with information technology and business consulting.

While the initiative is a laudable attempt the full implementation of the project can take up to 4 years to be fully adopted.

Women Investmenting In Cryptocurrency Has Seen Growing Impressively

A research study from a popular U.K.-based exchange, London Block Exchange (LBE), has revealed that women are increasingly getting interested in investing in cryptocurrencies.

The number of women interested in investing in the said space has doubled in the last 6 months from 6% of last year to over 13% currently which roughly translates to 1 of every 8 women.

The study also reveals that there is a marked increase millennial interest especially women. This phenomenon is said to be a product of millennial begging to comprehend to comprehend the vast power of cryptocurrencies and its underlying technology.

It also mentioned that women are 50% less vulnerable to making irrational investments as women are less susceptible to FOMO (fear of missing out).

1/3 Of Bitcoin In The World Is Only Held By 1,600 Wallets

A well-known cryptocurrency analysis firm, Chainalysis reveals that more than 1/3 of all Bitcoin are contained in just only 1600 wallets, all of which is said to have more than 1,000 bitcoin each with 100 of them having well over 10,000 bitcoin.

This paints a worrisome scenario where in a small number of people can easily influence the market if they try to move their bitcoin holdings.

Despite this information it is important to note that most of these so called whales have not move their coins for years leading some to believe that these wallets are owned by early bitcoin users who have lost their access to these bitcoins.

Further analysis from the company also reveals the decreasing number of long-term holders compared to short-term holders.

This means that the powers of short-term speculators are growing leading some to worry that these short-term speculators are just here to play with the price of Bitcoin.

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