Nasdaq gets into security tokens | Mapping out Ethereum's Open Finance | Coinbase's Adam White joins Bakkt

Bitcoin $6,286                    Ethereum $196.91   
Crypto Mkt Cap $202B              BTC Dominance 54.00%   

“We've still got a long way to go, there's a lot of issues in some of these spot exchanges, a lack of transparency, a lot of conflict of interest, a lack of systems and systems safeguards, and that's a concern. But you know, like all things, it takes time to mature, and with the movement of more institutional investors into the space, I think we'll see that [maturation]."Christopher Giancarlo, Chairman CFTC

The Big Block

U.S. exchange operator Nasdaq could gatecrash the crypto market with a new platform, according to people familiar with the situation. 

The firm, which is best-known for bringing technology companies such as Facebook and Tesla to market, is exploring a security token platform, the people said. Such platforms provide a way for firms to issue a token, which trades on a blockchain, as a way to raise funds. Security token offerings (STOs), unlike some initial coin offerings (ICOs), aim to fit into the parameters of existing U.S. securities law.

Since last year, the ICO market exploded in popularity with billions of dollars raised across hundreds of projects. The market, which is known for its fair share of fraud and big dreams, has helped some startups raise millions in seconds, drawing scrutiny from regulators such as the SEC.

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Around The Block

Mapping out Ethereum’s ‘Open Finance’

Human collaboration is built on narratives and stories. To quote Yuval Noah Harari in his book Sapiens, “Any large-scale human cooperation … is rooted in common myths that exist only in people’s collective imagination.” Crypto projects, goals, and ecosystems evolve based on the current narrative around a specific narrative. Ethereum’s narrative started as the “World Computer,” and then shifted to “unstoppable applications.” Now we are seeing a new narrative forming around Ethereum, one that people are labeling “Open Finance.” — More

Premiums on Bitfinex continue widening

According to The Block’s findings, Bitcoin premium on Bitfinex grew from 1.5% to 1.7% today. Tether-based exchanges are now trading Bitcoin for a 1.2% premium when compared to exchanges with fiat pairs. Concerns about Tether seemed to have calmed briefly but are starting to pick up again. Bitfinex continues to worry the market. — More

Coinbase’s Adam White is joining Bakkt as its COO — More

Gemini poaches a former Goldman Sachs, Citadel techie as its director of business development — More

Gemini announces support for litecoin and bitcoin cash — More

South Korean consortium buys a majority stake in Bithumb for ~$350M — More

SEC ramps up pressure on cryptocurrency startups — More

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