$6 Billion United Nations Agency Launches Bitcoin, Ethereum Crypto Fund
When Christina Lomazzo was a teenager, she used to hop back and forth across the U.S. Canada border for fun. A native of Ontario, with a father born in Italy, Lomazzo grew up speaking French, English, and Italian, and when things were slow in her home town she and her friends would pile into a black SUV, cross the Detroit River to the United States and watch all-star Rasheed Wallace and the Detroit Pistons. Instead of buying each other presents when she was a kid, Lomazzo’s family took trips around the world.
Tiny $217 Options Trade on Bitcoin Blockchain Could Be Wall Street’s Death Knell
The cryptocurrency industry isn’t replacing Wall Street just yet. But inventors and entrepreneurs are working on it, with some initial success, albeit modest.
In this case, an option premium of 0.0202 bitcoin ($217 at the time) paid via a smart contract may have just become the proof of concept.
The latest target for blockchain disruption is options trading tied to the Standard & Poor’s 500 Index, the main benchmark for U.S. stocks. It’s a massive market, with roughly $400 billion of the options changing hands every day last year, on average.
Under the current setup, Wall Street firms typically execute the trades and handle the settlement afterward – essentially making sure the securities end up in the buyer’s account, and that the cash ends up with the seller. But for investors, the process can be expensive, due to the middlemen fees being charged, and slow, with settlement typically taking a day or two.
In July, Emmanuel Goh, CEO of London-based firm skew., a startup specializing in analytical tools for the crypto industry, says he came up with the idea of using the bitcoin blockchain – the decentralized computer network underpinning the decade-old cryptocurrency – to trade S&P 500 options.
Telegram Finally Confirms It’s Behind TON Blockchain
After raising $1.7 billion last year and maintaining almost complete radio silence since, messaging app Telegram is finally going public with its involvement in the Telegram Open Network (TON).
The first mention of TON and its native gram tokens appeared on Telegram’s official website Tuesday morning in the form of a terms of service (ToS) for the token’s wallet app. According to the ToS, Telegram will integrate the wallet into the company’s flagship messaging app and also offer it as a standalone product.
“We have no control over the TON Blockchain network and therefore cannot ensure that any transaction details that you submit via the Services will be validated and confirmed on the TON Blockchain,” the document reads.
The wallet is provided by the London-based Telegram FZ-LLC, one of the entities Telegram registered for messaging operations and an official publisher of the Android-based Telegram app.