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#CryptoCorner: Market Down from Weekend Peak, Brazil’s Largest Brokerage to Reluctantly Launch #Crypto Exchange, Gemini May Expand to UK and Juventus to Launch Fan Token

September 24th CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App

 

Point Roberts, WA and Delta, BC - September 24, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

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#CryptoCorner: Market Down from Weekend Peak, Brazil's Largest Brokerage to Reluctantly Launch #Crypto Exchange, Gemini May Expand to UK and Juventus to Launch Fan Token

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Crypto Corner

Market Down from Weekend Peak, Brazil’s Largest Brokerage to Reluctantly Launch Crypto Exchange, Gemini May Expand to UK and Juventus to Launch Fan Token

After a bit of excitement over the weekend, the market has dipped $10 billion USD from its $228 billion USD peak yesterday to just $218 billion USD in total market capitalization at press time. According to data from CoinMarketCap, most coins today are in the red, with Bitcoin (BTC) trading at $6626 USD and Ethereum (ETH) at $233 USD. XRP, which briefly overtook Ether's market cap on Friday, is ranked at third once again and trading for $0.52 USD with a valuation of $20.9 billion USD.

Bloomberg reports that Grupo XP, Brazil's largest brokerage, will reluctantly launch a crypto exchange. The company's CEO, Guilherme Benchimol, announced the plans at an event in Sao Paulo, pointing out that 3 million people in Brazil have exposure to Bitcoin, as opposed to the just 600,000 who invest in the stock market. Benchimol did not sound terribly keen on the project, however, when he said:

"I must confess, this is a theme I'd rather didn't exist, but it does. We felt obligated to start advancing in this market."

All the same, Grupo XP is pushing ahead and will call the new exchange XDEX. It will be led by Thiago Maffra and will employ around 40 people.

Meanwhile, the Financial Times reports that Cameron and Tyler Winklevoss are entertaining a Gemini expansion to the UK. Gemini, which is one of the largest crypto exchanges in the world by trading volume, has reportedly recruited advisers to consult on a possible British expansion, according to sources close to the project. Another source said the company will file an application with the UK's financial regulator for approval. However, despite what sources revealed, Gemini is quoted on record in the Financial Times piece, saying:

"Although we have no immediate plans, we ... will always evaluate opportunities that allow the global economy to buy, sell and store digital assets in a regulated, secure and compliant manner."

Italian football (soccer) club Juventus has announced the launch of its own fan token in collaboration with blockchain platform Socios.com. The token enables fans to engage with the team through mobile voting and polling on the platform. This follows news earlier in September, when Socios.com announced a partnership with Paris Saint-Germain for its own fan token. Socios.com CEO and founder Alexander Dreyfus commented on the venture, and the company's long term goals:

"As one of the biggest and most successful football clubs in the world, I am delighted that Juventus has chosen to work with Socios.com, and to seek the rewards that our innovative blockchain technology has to offer.

"Our long-term aim is to onboard more than 50 football clubs and we hope to inject an additional $300 million into the sports economy over the next few years. We have started at the very top, with some of the biggest names in football, and our ambition is to build the world's biggest global football community and marketplace for football fans alongside demonstrating that blockchain and cryptocurrency is the trusted technology of the mainstream."

Sam Mowers, Investorideas

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