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Crypto (BTC, ETH, XRP) Donations Help Raise $14 Million For Charity

Ethereum World News
Crypto (BTC, ETH, XRP) Donations Help Raise $14 Million For Charity
Crypto (btc, eth, xrp) donations help raise $14 million for charity

It is always good to lend a helping hand and give back to society. The crypto community did just that during the Annual Tipping Point Gala in San Francisco 6 days ago. Popular cryptocurrencies of bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) were donated and helped raise a cool $14 Million that will go towards ending the poverty cycle in the San Francisco Bay Area.

The Tipping Point Non-profit organization found it fit to accept Crypto at the gala. The Crypto would be converted to fiat over the next financial year. The Crypto donations were encouraged through a page in the program present at the event. All the attendees had to do was to scan a QR code and donate an amount of their liking in BTC, ETH or XRP.

The open-mindedness exhibited by Tipping Point was a first amongst Charities and it prompted the attendance of popular Crypto personalities at the gala. In attendance was the co-founder of Ripple, Chris Larsen and Coinbase CEO, Brian Armstrong. Also in attendance was Dan Morehead, the CEO and founder of Pantera Capital Management.

The Tipping Point Community fights poverty in the Bay Area as earlier mentioned. The organization estimates that there are over 1.3 Million people too poor to meet their basic needs in that region of California. The organization has managed to raise over $150 Million since 2005 and the funds go to the lots of community based programs to educate, employ, house and support those in need.

The non-profit act as an avenue for those willing to donate to a worthy cause. They do this by doing the homework with respect to partnering with the most effective groups fighting poverty in the Bay area. They also carry out Research and Development for new methods of eradicating poverty. This last quality explains why they were crypto friendly at their Annual Gala. The non-profit also welcomes pro-bono partners to provide services and expertise to the many groups that lack them.

All in all, it was a good day for Crypto and the Tipping Point Community with the annual gala being a success.

The post Crypto (BTC, ETH, XRP) Donations Help Raise $14 Million For Charity appeared first on Ethereum World News.

Blockchain on Medium
Quick estimate of Apex Token Fund’s presale performance

Crypto (btc, eth, xrp) donations help raise $14 million for charity

This paper will use the “Barclay Hedge Cryptocurrency Traders Index” to estimate the return on Apex Token Fund — from 1 Feb to 31 May 2018.

Continue reading on Medium »

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Wall Street Bank Oppose Bitcoin Futures, But Goldman Sachs is Ready

Earlier this week, some of the global finance market’s largest banks including Goldman Sachs, Morgan Stanley, JPMorgan, and Citigroup opposed the launch of bitcoin futures, claiming a lack of transparency and regulation.

The open letter submitted by the Futures Industry Association (FIA) representing the abovementioned banks read:

“While we greatly appreciate the CFTC’s efforts to receive additional assurances from these exchanges, we remain apprehensive with the lack of transparency and regulation of the underlying reference products on which these futures contracts are based and whether exchanges have the proper oversight to ensure the reference products are not susceptible to manipulation, fraud, and operational risk.”

Goldman Sachs Changes Stance, JPMorgan Claims bitcoin Futures Will Grant the Cryptocurrency Legitimacy

According to Bloomberg, Goldman Sachs, the $95 billion investment bank, is planning to clear bitcoin futures on behalf of its clients upon the launch of the bitcoin futures exchanges of CBOE and CME, two of the world’s largest options exchanges.

A source familiar with the matter stated that Goldman Sachs will clear client trades on a case-by-case basis, to ensure the process remains secure and efficient for clients.

Goldman Sachs spokeswoman Tiffany Galvin also stated:

“Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process.”

Previously, on December 1, JPMorgan global markets strategist Nikolaos Panigirtzoglou, told the bank’s clients that the launch of bitcoin futures exchange by CME and CBOE will add legitimacy to the cryptocurrency, and allow it to evolve into the next gold.

“The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors,” said Panigirtzoglou, emphasizing the expected flow of tens of billions of dollars into the bitcoin market over the next few weeks.

Leading financial institutions and major banks have opposed the launch of bitcoin futures primarily because the listing of bitcoin futures will likely trigger a massive inflow of institutional money. Coinbase CEO Brian Armstrong estimated the amount to be $10 billion, which is expected to move into the bitcoin market by the year’s end.

Listing of bitcoin Futures Threatens Major Banks

As Ari Paul of Blocktower noted, the rapid and exponential growth rate of bitcoin, and the entrance of tens of billions of dollars into the bitcoin market will lead to the cryptocurrency penetrating into the multi-trillion dollar offshore banking industry, which brokerages such as JPMorgan and Goldman Sachs dominate.

If bitcoin continues to grow at the current rate, which will likely be the case with the listing of bitcoin futures by large-scale exchanges, it will begin to challenge the industries and markets controlled by the global financial sector’s leaders, such as JPMorgan.

“In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class,” Panigirtzoglou stated, adding that  “the value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here.”

The post Wall Street Bank Oppose Bitcoin Futures, But Goldman Sachs is Ready appeared first on NEWSBTC.

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