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Morgan Creek’s Anthony Pompliano has suggested that Kroger’s use the Lightning Network to replace Visa cards as a payment method. Morgan Creek Digital founder Anthony Pompliano has suggested that major United States retailer Kroger should deploy the Lightning Network in its stores, following the brand’s decision to stop accepting Visa at some locations. According to Pompliano’s tweet from Mar. 3, the negotiations have already started. On Friday, Mar. 1, Kroger officially announced that its Smith's Food & Drug stores will not accept Visa cards starting Apr. 3 due to the high fees that company imposes on major retailers. "Visa has been misusing its position and charging retailers excessive fees for a long time," Kroger's chief financial officer Mike Schlotman said, explaining the decision. Shortly after the decision was announced, Pompliano asked for contacts at Kroger via Twitter, stating that the retailer could use the Lightning Network — a payment protocol that works as a s..
Morgan Creek Digital’s new major funding news follows CEO Anthony Pompliano’s endorsement of Bitcoin’s potential to avert a pension crisis. United States digital asset firm Morgan Creek Digital has secured $40 million in funding from investors that include two major pension funds, Bloomberg reported Feb. 12, citing a statement from the company. Morgan Creek Digital, which launched its Digital Asset Index Fund in August last year, sealed the funding from two of the three benefit plans from the Fairfax County Retirement Systems. The new venture capital fund is called the Morgan Creek Blockchain Opportunities Fund and is reportedly focused on investing in the digital asset industry, according to The Next Web. The original cap for the investment was set at $25 million, but expanded upwards due to the level of interest, The Next Web reports, referencing the firm’s CEO, Anthony Pompliano. The agreement with the two funds came prior to the start of the year, when Pompliano issued a blog post..
JP Morgan analysts predict that Bitcoin could fall below $1,260, and banks will not benefit from blockchain for another three or five years. Analysts at JP Morgan have predicted that Bitcoin (BTC) could fall below $1,260, while banks will not benefit from blockchain for at least three to five years, Reuters reported on Jan. 24. According to Reuters, analysts from the major global investment bank think that the true value of cryptos is still unproven, and that they only make sense in a hypothetical “dystopian” event, wherein investors have lost faith in major traditional assets like gold and the U.S. dollar. The analysts stated in a report: “Even in extreme scenarios such as a recession or financial crises, there are more liquid and less-complicated instruments for transacting, investing and hedging [than cryptocurrencies].” JP Morgan also said that institutional involvement in the crypto market has slumped over the past six months, with individual traders making up the majority of the..
JP Morgan-backed digital services firm Smartrac has partnered with a blockchain startup run by a former Deloitte exec. JP Morgan-backed digital services firm Smartrac has partnered with SUKU Ecosystem, a blockchain startup owned by former Deloitte exec Eric Piscini, according to a tweet on Tuesday, Jan. 22. SUKU, which is parented by another Piscini-owned blockchain firm Citizen Reserve, will provide its platform to integrate with Smartrac’s supply chain. Smartrac is a radio-frequency identification (RFID) inlay manufacturer. Based on the public Ethereum (ETH) blockchain, Citizens Reserve’s platform is operating its own cryptocurrency, ZERV, which was developed on an ERC20 token. Piscini, CEO at both SUKU and Citizen, said that the new partnership aims to resolve major problems related to supply chain digitization. Per Piscini the new blockchain integration will improve tracking, security, and transparency across the supply chain. Dinesh Dhamija, CTO of Citizens Reserve, said: “The co..
Bitcoin (BTC) has been stuck in a descending channel almost throughout the year 2018. Last week, the bull run in the market took the price of BTC above $4,000 but it fell below this level once again. The boost in price helped many investors regain their confidence in BTC but there are still those who believe that the worst is yet to come. According to Anthony Pompliano from Morgan Creek Digital, the price of BTC will still fall below $3000 before it finds a bottom. Bitcoin To Fall Below $3000? During an interview with CNBC, Pompliano, who has always been an active member of the cryptocurrency community, said that BTC will not reach bottom until it moves below $3000. In his words: “I believe the price of BTC is still going to fall lower short-term.” FAANG Stocks Tumble During the interview, Pomp was asked if he believed that the price action of BTC has any relationship with the stock of the tech giants of the world – FAANG (Facebook, Apple, Amazon, Netflix and Google). In reply, he ..
The cryptocurrency industry has been having difficulty for a while now. Everyone was expecting BTC to recover from the January market crash it suffered and take the entire market along. Unfortunately, in an unexpected turn of events, BTC fell even more significantly against the USD. Many short-term investors sold out and left the market. However, there are still those who believe in cryptocurrencies. For one, the CEO of Morgan Creek, Mark Yusko, said that he believes that a surge is on the way. Cryptocurrency Market Will Surge Soon According To Mark Yusko While there is no evidence to support a bull rally anytime soon, the cryptocurrency market has strong fundamentals that will cause a rapid surge within the next 10 years. Yusko, the CEO of the well-known investment firm, Morgan Creek Digital, said that there is success waiting for Bitcoin and the entire market in the long run. He made his conviction known during CNBC’s Fast Money. According to him, the Bitcoin network is strong and t..
Ripple has been making a lot of progress in Asia. This is because the Asian space is receptive to the company’s technology. During a conference that took place recently, one of the executives at Ripple, Dan Morgan said that Asia has displayed a lot of interest in its technology and it has the highest demand of XRP. This is good news for the token. If this interest expands to other continents, XRP will be one step closer to achieving global adoption. XRP (XRP) Price Today – XRP / USD Name Price24H (%)$0.354723 -2.06% This year, XRP has fallen significantly against the USD. After reaching its peak in January, it started to lose value significantly against the USD along with the entire cryptocurrency market. However, it is important to note that XRP wasn’t the only cryptocurrency that fell against the USD. Also, the fact that the coin fell in price doesn’t mean it didn’t make any progress throughout the year. For starters, Ripple was able to enter into great partnerships with many bank..
Investment bank J.P. Morgan Chase has named three companies whose stock could benefit from their deployments of blockchain technology. Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly create “material incremental growth opportunities” from the technology. Per J.P. Morgan, those beneficiaries are American content delivery network and cloud service provider Akamai Technologies Inc., San Fra..
Morgan Stanley’s report shows Bitcoin’s appeal to institutional investors as the market evolves. On October 31, multinational investment bank and financial services company, Morgan Stanley, released their latest report on Bitcoin. The report, entitled “Update: Bitcoin, Cryptocurrencies and Blockchain,” stated that Bitcoins and altcoins have constituted a “new institutional investment class” since 2017. In comparison to Morgan Stanley’s 2017 report on Bitcoin, their 2018 outlook is bullish. The report contains an overview of both how Bitcoin has evolved, and how its investment purpose has changed throughout its existence. Morgan Stanley analysts also touched upon the recent stablecoin trend and both central bank and regulator reactions to Bitcoin for the last six months. The report listed several shortcomings that persist for Bitcoin, such as energy consumption and a lack of a robust regulatory framework. Analysts have revealed about the “surprising” change in funding flowing into the ..
Bitcoin and altcoins have been representing a “new institutional investment class” since 2017, despite the ensuing bear market, Morgan Stanley says. Bitcoin and altcoins has been a “new institutional investment class” since 2017, U.S. multinational investment bank and financial services company Morgan Stanley claims in a new report released Oct. 31. The document, titled "Bitcoin Decrypted: A Brief Teach-In and Implications," sees the newly-bullish Morgan Stanley weigh in on the “surprising” developments in cryptocurrency that continue to the present day. According to its latest findings, the “surprises” to come from crypto in 2018 are a “strong” formation of new funds targeting the sector, as well as the “growth” of cryptocurrency-tied futures. Despite the persisting bear market this year and the accompanying price drop, Morgan Stanley continues, Bitcoin and altcoins have constituted a “new institutional investment class” since 2017. Researchers also stayed positive on decentralized t..
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