Citigroup to Develop New Way fo Crypto Trading

The reaction of the SEC to the possible release of a new instrument is yet to be foreseen
10 September 2018   836

One of the largest banking conglomerates of the USA, Citigroup intends to issue receipts for digital assets that will allow customers to trade crypto-currencies without owning them directly. The new tool complies with the existing legal norms, the sources of Business Insider note.

A new kind of receipts should work on the principle of American depositary receipts, allowing investors to trade in securities baskets that are not represented on American markets. In this case, the cryptocurrencies themselves will be kept by a separate custodian.

The reaction of the Securities and Exchange Commission (SEC) to the possible release of a new instrument is yet to be foreseen, since exchange products based on cryptocurrencies do not cause the agency to have warm feelings, as evidenced by repeated refusals to open bitcoin-ETF and the recent decision to suspend trades tied to the dollar with exchange notes from the XBT Provider.

Earlier, IT giant IBM, conglomerates of Barclays and Citi announced the creation of a banking-oriented store for blockchainapplications LedgerConnect.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   962

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”