A former Goldman Sachs exec is joining a crypto-trading firm as it eyes a major global expansion

Jeff Bergstrom

Jeff Bergstrom


A former Goldman Sachs exec is joining a crypto-trading firm as it eyes a major global expansion
Frank Chaparro – Business Insider
Circle, the cryptocurrency exchange operator, has snagged a former Goldman Sachs executive to help navigate the murky regulatory waters as it expands globally, Business Insider has learned.

Bitcoin Bounces as Traders Seek Silver Lining in SEC ETF Denial
Olivia Schaber and Rachel Evans – Bloomberg
Dissenting SEC Commissioner Peirce reiterated support for ETF; Peirce was outvoted 3-1 when regulator rejected the fund
Cryptocurrency traders don’t know who to believe in the long-running battle to create an exchange-traded fund that invests in Bitcoin.

New Gallup Poll Shows Only 2% of US Investors Own Bitcoin, But 26% Are ‘Intrigued’
Maxwell William – Cointelegraph
The results of a Wells Fargo/Gallup poll published July 27 finds that only two percent of U.S. investors own Bitcoin, but 26 percent are intrigued by it.

Largest Movie Theater Chain in Thailand Going Crypto
Kevin Helms – Bitcoin.com
Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses.

Have a Cryptocurrency Company? Bermuda, Malta or Gibraltar Wants You
Nathaniel Popper – NY Times
Hedge funds go to the Cayman Islands to incorporate. Big companies are generally domiciled in Delaware. And online poker companies often set up their bases in Gibraltar and Malta.

Coinbase Launches Crypto Gift Card Service in Europe
Wolfie Zhao – Coindesk
U.S.-based cryptocurrency exchange Coinbase now offers a way for customers to purchase retail goods and services using crypto assets, thanks to a new partnership with a digital gift card startup.

An early bitcoin investor explains what most people get wrong about the cryptocurrency
Ali Newhard, Kara Chin and Jacqui Frank – Business Insider
Jeffrey Wernick is an independent investor whose portfolio includes early holdings in Uber and Airbnb. Wernick was also an early investor in bitcoin. He started buying it in 2009, the year it was created.

The biggest crypto firm on Wall Street just took a $134 million loss on bitcoin’s plunge; Former Wall Street macro trader Mike Novogratz’s Galaxy Digital took a $134 million hit in the first quarter.
Kate Rooney – CNBC
Crypto merchant bank Galaxy Digital took a $134 million hit in the first quarter as bitcoin lost half its value and other cryptocurrencies struggled to break out of a bear market.

Bitcoin believers are flocking to a sympathetic SEC commissioner’s Twitter account
John Detrixhe – Quartz
Crypto Twitter is rallying behind a sympathetic watchdog at the US Securities and Exchange Commission. Not long after commissioner Hester Peirce dissented from the agency’s rejection of a bitcoin exchange-traded fund, her count of Twitter followers soared:

Novogratz’s Crypto Bank Makes Belated Debut After Bitcoin Plunge
Doug Alexander and Erik Schatzker – Bloomberg
Galaxy Digital to start trading Aug. 1 on Canadian exchange; Founder Novogratz predicts profit by second quarter of 2019
Mike Novogratz is past the point of no return. Two days from now, his cryptocurrency-focused merchant bank, Galaxy Digital LP, will start trading on Toronto’s TSX Venture Exchange. It should be a triumphant moment for the former Goldman Sachs Group Inc. partner and a milestone for the industry, yet Novogratz is having second thoughts. He reflects on the “frustrating” demands of Canadian regulators that dragged out Galaxy’s listing for months and trapped his investors as Bitcoin collapsed and crypto fever cooled.

Citigroup, Barclays Near End of Blockchain Test Managed by IBM
Matthew Leising – Bloomberg
Banks are hoping to pool tech resources to cut spending; Project offers shared applications on a blockchain network
Barclays Plc and Citigroup Inc. are poised to complete a test of how blockchain technology can streamline their operations as part of a group organized by IBM and one of the world’s largest financial infrastructure providers.

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