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Bitcoin Surges as Global Involvement in Blockchain Grows


Bitcoin Surges as Global Involvement in Blockchain Grows News Commentary

PR Newswire

NEW YORK, July 26, 2018 /PRNewswire/ --

Bitcoin has been recovering in the past two weeks as its price rose above USD 8,000 on Tuesday for the first time in two months. According to data from CoinMarketCap, the price of bitcoin surged 6.18% to USD 8,216 during Tuesday's trading session. The world's largest cryptocurrency by market value has gained nearly 30% in July, on track for its second-biggest monthly gain this year. The recent rally in cryptocurrency prices is fueled by the optimism that a bitcoin-based exchange-traded fund could be approved by the SEC. San Francisco-based Bitwise Asset Management on Tuesday announced it filed for the first cryptocurrency Index ETF. Inc. (OTC:CIIX), Marathon Patent Group Inc. (NASDAQ:MARA), Riot Blockchain Inc. (NASDAQ:RIOT), Seven Stars Cloud Group Inc. (NASDAQ:SSC), Inc. (NASDAQ:OSTK)

Additionally, global regulation of cryptocurrency and blockchain technology is increasing. South Korea plans to establish a department exclusively covering the nation's cryptocurrencies and blockchain technology. According to CNBC, Charles Hayter, Chief Executive of digital coin comparison site CryptoCompare, told CNBC in an email on Tuesday, "Regulation is moving in a pace with positive murmurings from governments as they understand the opportunities and risks, and how to tailor their approaches - South Korea being the latest to give another tacit nod." Inc. (OTCQB:CIIX) earlier last week announced the, "official launch of its new cryptocurrency trading courses offered through its newly established Bitcoin Trading Academy LLC.

The Company officially launched the following three-part course offering on July 7th, 2018:

Bitcoin Trading 101: Students are provided with a basic knowledge about Bitcoin including how to open and trade on different cryptocurrency trading platforms, how to set up a cryptocurrency wallet, futures trading strategies, both long and short, how to use Bitcoin Futures to properly hedge one's Bitcoin portfolio, and how to properly use beginner-friendly trading techniques.

Bitcoin Trading 201: The second course in the program focuses on coins such as Ethereum, including coins with significant underlying technology such as EOS, XLM, ADA and NEO, and altcoin trading platforms, such as Binance and Bittrex. In addition, this course will provide instruction on how to use information such as a coin's underlying utility, current industry and sector news in combination with technical analysis in an effort to maximize returns; and effectively scrutinize and understand social media feeds.

Bitcoin Trading 301: Professional ICO analysts will teach students what to look for when vetting a new cryptocurrency offering, including how to read a white paper, analyze the professional teams and advisory boards associated with an offering, the role that technology, marketing, trends play and what pitfalls to avoid.

"We are pleased with the turn out for the first live course offerings in New York City and we expect even better attendance once the word spreads about this innovative cryptocurrency education opportunity. Courses are also offered online in English and Chinese. In addition, the Company plans to expand its live course offerings to Asia in the coming months," says Inc. CEO, Warren Wang."  

Marathon Patent Group Inc. (NASDAQ:MARA) is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. Earlier this year, the Company announced that it has commenced bitcoin mining at its new facility in Quebec. On February 8th, 2018, the Company announced it had purchased 1,400 Bitmain Antminer S9 miners and on February 15th, 2018 the Company announced it had leased 26,700 sq. ft. of data center space in Quebec, Canada. The Company announced the completion of its installation and the commencement of operations which are expected to utilize approximately 2.0 MW and deliver approximately 19 Ph/s of ASIC mining capacity. The Antminer S9s are presently mining Bitcoin but are able to mine other digital assets/cryptocurrency using the SHA256 algorithm.

Riot Blockchain Inc. (NASDAQ:RIOT) is focused on building, supporting, and operating Blockchain technologies, primarily through its cryptocurrency mining operations and other internally developed businesses, as well as through potential joint ventures, acquisitions, and targeted investments in the sector. Recently, the Company announced the beta development of its own private Bitcoin Mining Pool. Mining pools are groups of miners that work as a team and contribute their hashing power to solving computations that secure the blockchain. By pooling resources, miners increase the odds and consistency of receiving block rewards, which are the fees collected as part of Bitcoin's "proof of work" security model. Securing the Bitcoin network is based heavily on the distributed nature of mining power. As mining pools have become more popular, higher percentages of the global hash rate have become centrally managed.

Seven Stars Cloud Group Inc. (NASDAQ:SSC) is aiming to become a next-generation Artificial-Intelligent (AI) & Blockchain-powered, Fintech company. Recently, the Company announced that it has successfully entered into an exclusive agreement with the China Venture Capital Research Institute ("CVCRI") and its subsidiaries. CVCRI is uniquely supported by Chinese regulators and authorities, in order to innovate and pioneer next-generation efforts across the above asset classes. As such, they have decided to work on an exclusive basis with SSC, given SSC's unique and proprietary technology platforms, fintech ecosystem, and vast global reach. As a result of the strong partnership, SSC will become the sole provider of fintech services for these assets, including but not limited to large-scale commercial real estate and properties held by leading insurance companies, large investment funds, and other fixed income suitable products. SSC will work with CVCRI to develop products for the fixed income asset class and facilitate their sales and trading process on government-designated exchanges within China. Inc. (NASDAQ:OSTK) subsidiary tZERO, the global leader in blockchain innovation for capital markets, last month announced that it has signed a letter of intent with GSR Capital for a purchase of USD 160 Million in tZERO Security Tokens at a price of USD 10.00 per token, pursuant to the Simple Agreement for Future Equity (SAFE). To accommodate the investment from GSR, tZERO's Security Token Offering (STO) has been extended until August 6th, 2018. In addition to the investment from GSR, as of June 28th, 2018, tZERO has entered into executed SAFEs in excess of USD 168 Million for Security Tokens, of which over USD 95 Million has been already funded. Holders of unfunded SAFEs will be able to fund those SAFEs on a first-come, first-serve basis until the STO is completed. Approximately 1,000 people from 30 countries participated in the token sale.

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