HSBC’s banker encourages CFTC to express positive words on blockchain

Summary:

  • London Metal Exchange purportedly supports a blockchain-based project to track metals
  • HSBC’s executive encourages CFTC to produce more positive noise about blockchain
  • Bitcoin opened today’s trading a notch below $4000

Yesterday’s trading ended quite successfully as major cryptos closed the day noticeably above opening prices. The largest cryptocurrency Bitcoin managed to return around the $4000 mark. However, it has launched today’s trading rather less vigorously. According to CoinMarketCap, the capitalization of the whole cryptocurrency market stays around the $142.5 mark while altcoins (cryptos excluding Bitcoin) account for roughly 49.7% of this value at press time.

Bitcoin (BITCOIN on xStation5) experienced a noticeable rise during yesterday’s trading, and the cryptocurrency jumped to nearly the $4000 mark. Nevertheless, Thursday’s trading has not been so successful for the largest cryptocurrency as the previous one. As we could notice, Bitcoin is trading in the vicinity of its today’s opening price at press time. Source: xStation5

LME supports blockchain project to track metals?

The London Metal Exchange, the exchange with the world’s largest futures and options market on metals, purportedly supports a blockchain-powered initiative to track the trade of physical metals, according to the Financial Times. More precisely, the newspaper citing people familiar with the effort wrote the London Metal Exchange supported a consortium initiative of metal traders and banks called Forcefield headed by Mercuria, the Swiss commodity trading company. Moreover, the Financial Times said also that the blockchain-based project, which is aimed to track physical metals, is also backed by such giants as ING and Macquarie.

Ethereum (ETHEREUM on xStation5), like its bigger peer Bitcoin, advanced yesterday, and it recouped a major part of its recent losses. As a result, the second largest digital currency has opened today’s trading a little below the $138 handle. Source: xStation5

HSBC’s banker encourages CFTC to produce some positive words for blockchain

HSBC senior vice president Jesse Drennan produced some blockchain-related remarks directed towards the US Commodity Futures Trading Commission during the Commission’s Technology Advisory Committee meeting, as the CoinDesk reported. The bank’s executive encouraged the Commission to make more positive noise about distributed ledger technology (DLT). Drennan thinks also that some positive words on DLT produced by the CFTC would be beneficial. The HSBC’s banker said also that companies interested in distributed ledger technology often check what regulators thinks about this technology. As a result, positive noise about blockchain produced by the Commission may encourage some companies which are still hesitating.

Wednesday brought a noticeable rise for the fifth largest cryptocurrency Litecoin (LITECOIN  on xStation5). Moreover, the virtual currency has approached almost the highest levels in recent months - Litecoin closed yesterday’s trading a little below its several months’ low. Source: xStation5

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