HodlHodl, Skew, Clearmatics, Brewdog, Nestle, UK-NL-FR regulators and much more!
|Jul 7||Public post|| 3|
This is the #11 issue of my European crypto newsletter aiming to give updates on corporates, startups and regulation in 🇪🇺
Everyone is talking about San Francisco as the epicentre of everything in crypto. Well, I wanted to shed lights on Europe and show how exciting the ecosystem is.
Note, if you are looking to hire, share news or want to sponsor a newsletter please email me at email@example.com
Etienne ( You can always contact me at: Twitter, firstname.lastname@example.org)
PS: Are there any of my readers based in NYC, SF, Berlin or Amsterdam? if so contact me.✋
🙈Who’s behind this?
This section aims to give the opportunity to introduce some of the best 🇪🇺 founders. Most people loves their products but don’t know who are the founders behind them. Hello World.
Hi Charles, CryptoCompare has recently been very active with its product with BitMex on integrating Cryptocurrency Futures Data into Eikron and Quandl as well as launching a cryptocurrency Exchange Benchmark. In a few years, CryptoCompare has become one of the most trusted sources for crypto data (pricing data on 5,300+ coins and 240,000+ currency pairs). Your API is used by many companies but only a few people know who is behind your company. Can you share a bit about your background?
My background was in equity research from 2006, after a degree in astrophysics, where I completed the CFA and used to cover solar, renewable energy and quantitative research.I was also working at bulge brackets and boutiques as well as an elongated career switch in Africa during the recession on a private reserve doing game management/conservancy and construction — a welcome break from the trials and tribulations of excel spreadsheets. In 2012, I started looking into more entrepreneurial ventures and spotted the opportunity of a lifetime in the emergence of digital assets.
How did you get into the bitcoin and blockchain industry?
A couple of friends were into bitcoin back in 2013 and showed me a few sites when China was starting to make murmurings of quasi support — or, to put it in another way, not banning it at that point. That’s when I realised that not only had a new medium for value transfer been discovered, but there was also a new type of asset being created.
I decided to set up CryptoCompare and called on a few people including Vlad, my co-founder. Since then we have accrued hungry top talent with the right skill sets.
💵 Job of the week
🐦 Tweet of the week
HodlHodl has now 5 live predictions using its prediction market. See how it works here. In essence, an user posts a prediction using hodlhodl smart contract and stakes their BTC on question such as ‘Apple's market cap will hit 1 trillion USD by the end of 2019’. [Source]
The team at Skew prepared a great Q2 Crypto Derivatives Review including: performance, macro themes, mining, futures and options etc… BitMex is clearly the leader with $1Tn of derivatives contracts traded over the last year but the launch of Bakkt, ErisX may help to bring more institutions to crypto. Note, the option market is lead by Deribit (based in Amsterdam!) but it is not regulated and used mostly by retail traders. Overall, crypto is still a market driven by retail and few day traders. The market infrastructure and market participants have still some challenges (e.g. Tether being the largest stablecoin, Flash crash on Bitstamp etc…) before to move to a more institutional friendly space. [Source]
German Bitcoin mining company Northern Bitcoin signed a deal to buy nearly 5,000 mining rigs from Bitmain and Canaan Creative. Northern, which is headquartered in Frankfurt but operates a site in Norway, aims to double its capacity, currently operating with 55 petahashes per second. [Source]
Prime Factor Capital was the first crypto hedge fund approved as a full-scope alternative investment fund manager by the Financial Conduct Authority. If you want to learn What it means to be a regulated investment manager – and why investors should care, have a look HERE. In short, they operate with best practices, have strong relation with regulators and can raise EUR100m+
Scottish craft beer brewery BrewDog has extended its latest crowdfunding to allow investors to buy shares in the form of cryptocurrency [Source]
Swiss-headquartered food retail giant Nestlé announced its intention to track its products along the supply chain with blockchain technology. It claims it would become the first “major food and beverage company to announce that it will pilot open blockchain technology in this way.” With the OpenSC platform, consumers will reportedly have access to independently verifiable sustainability and supply chain data. [Source]
🏦Regulations / Universities
UK: As the CATF Report found, it considers that retail consumers cannot reliably assess the value and risks of derivatives and exchange traded products that reference certain cryptoassets. In short, regulated derivatives exchanges will most likely not offer anymore crypto derivatives in the UK and unregulated exchanges will be blocked (Hello VPNs). Very similar to what happened with BitMex in the US and Canada. [Source]
French financial regulators have observed an increase in complaints regarding cryptocurrencies this year. Investors in the country are increasingly filing complaints about digital currencies with France’s Financial Markets Authority (AMF) since January 2019, according to the AMF’s 2019 Risk Map report published on July 2. [Source]
Dutch ministers have urged the government to regulate cryptocurrencies and certain cash payments over money laundering concerns in a statement on July 1 The officials said that the government should ban cash payments over 3,000 euros, regulate cryptocurrencies and ban 500 euro banknotes, as these instruments can purportedly facilitate money laundering. This is in line with the cashless society most governments are pushing for. [Source]
Euronext announced that it has subscribed the entire €5m capital increase of tokenization platform Tokeny Solutions, resulting in a 23.5% stake and strong governance representation. Launched in 2017, Tokeny Solutions provides all private markets securities issuers, from mid-cap companies and asset management companies to advisors like investment banks, with modular and user-friendly end-to-end solutions to issue, manage and transfer tokenized securities on public blockchain. Their T-REX protocol integrates compliance obligations into the digital asset smart contract, to create tokens compliant by design. [Source]