Investorideas.com

Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411


Share on StockTwits

#CryptoCorner: ETC Leads Continuing Crypto Surge, Saudi Aramco Energy Invests $5 Million in Blockchain Trader Vakt, Hut 8 (TSX: HUT) CEO to Step Down

Swiss Regulators Approve IPO on Blockchain

 

Point Roberts, WA and Delta, BC - January 29, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/012920-CryptoMarket.mp3

#CryptoCorner: ETC Leads Continuing Crypto Surge, Saudi Aramco Energy Invests $5 Million in Blockchain Trader Vakt, Hut 8 (TSX: HUT) CEO to Step Down

SHARE PODCAST:      

Get the Crypto Corner Podcast on iTunes

ETC Leads Continuing Crypto Surge, Saudi Aramco Energy Invests $5 Million in Blockchain Trader Vakt, Hut 8 CEO to Step Down as Company Amends Agreements with Bitfury and Swiss Regulators Approve IPO on Blockchain

Stocks discussed: (OTC:ETCG) (2222.SR) (TSX:HUT)

The crypto market has continued its upward momentum with total market capitalization clocking in at about $255 billion USD at press time, according to data from CoinMarketCap. Bitcoin (BTC) has reached its highest trading price in almost three months at just over $9,300. An article from CoinDesk cites Su Zhu, co-founder of Singapore-based crypto investment firm Three Arrows, who observed:

"[BTC] rally looks Asia-driven with the Chinese equity market reopening after holidays has been delayed due to the coronavirus, so traders itching for activity may have set their sights on the 24-7 crypto markets in the meantime."

As with Monday, however, Ethereum Classic (ETC) has displayed the most impressive growth of the major altcoins with a 24 hour increase of nearly 11 percent. Alongside it, the stock for Grayscale Ethereum Classic Trust (OTC:ETCG), which we linked to ETC's growth in this latest bull run, is itself up almost nine percent today.

Saudi Aramco Energy Ventures (SAEV), a subsidiary of Saudi Arabian Oil Company (Aramco) (2222.SR), has invested $5 million in blockchain-based oil trader Vakt. Hans Middelthon, MD of SAEV Europe commented:

"VAKT has demonstrated that their platform has the potential to digitise what is currently a very manual process and be truly transformative to end users and customers. Leveraging blockchain theory and applying it to the complicated world of post-trade processing, VAKT has made a compelling pitch to become an integral part of market infrastructure. SAEV's mission is to develop and deploy technologies into Aramco's operations. VAKT is an excellent candidate in this sense and we look forward to helping the company with its development."

Though Aramco is slightly in the green today with growth of about half a percent at press time, it is unlikely that this news from a subsidiary moved the needle all that much.

Bitcoin mining firm Hut 8 Mining Corp. (TSX:HUT) has announced that its CEO Andrew Kiguel is stepping down from his role, but will remain until a successor is appointed. Kiguel commented:

"As a co-founder, it's been a privilege to help build Hut 8 from a start-up to a category-leading company that's generated over $115 million in revenue since 2018. We've accomplished significant milestones, including raising over $100 million in debt and equity and the completion of our 67 MW facility in Medicine Hat. Hut 8 survived the 2018 bitcoin price collapse and emerged the world's largest publicly traded bitcoin miner. In addition, Hut 8 was the first cryptocurrency company to list on the Toronto Stock Exchange in 2019."

Feel free to check out an interview Investorideas.com did with Andrew Kiguel in October last year, in which he discussed the company's TSX listing and much more.

But, in addition to that, Hut 8 has also entered into a non-binding term sheet with Bitfury Holding BV, "to amend key agreements between the two companies with the intent of reducing operating costs and providing more autonomy to Hut 8 in managing its Canadian operations." Regarding this, Kiguel said:

"The amendment of these contracts will allow Hut 8 to operate more independently as the company continues to mature. Once finalized, Hut 8 will have reduced its operating costs by over $2 million annually. Bitfury remains the largest Hut 8 shareholder and an important strategic partner."

Swiss blockchain firm OverFuture has been approved by regulators to proceed in what will be Switzerland's first IPO launched on the Ethereum (ETH) blockchain, according to a press release today. An excerpt from the release reads:

A huge difference when compared to the traditional ecosystem of intermediaries operating the capital markets sector, at least under three main aspects: costs, time and direct sale of the issuers to the investors. Some traditional regulated exchanges (ex SDX - Swiss Digital Exchange by the Swiss Exchange SIX) are already preparing themselves to a new digital way to distribute securities.

A company's articles of incorporation natively on the blockchain may represent the first concrete step toward a huge revolution for the way companies access to the capital markets (and crowdfunding).

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea's original branded content includes the following podcasts and columns : Crypto Corner, Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change, Exploring Mining the AI Eye.

The Crypto Corner is part of the Investor Ideas Membership content

The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Download our Mobile App for iPhone and Android

Contact Investorideas.com

800-665-0411


Get more Bitcoin and Blockchain Investor ideas - news, articles, podcasts and stock directories