CryptoCompare, a leading provider of cryptocurrency data and indices, and NASDAQ are coming together to launch a new cryptocurrency pricing product – “Nasdaq/CryptoCompare Aggregate Reference Prices.” The product will be available on Quandl, a platform owned by NASDAQ. Quandl provides financial, economic, and alternative databases, and serves investment professionals.
The support of this platform will enable institutional investors to keep a tab on nascent asset classes and also keep a note on investment opportunities, using trusted data sources. With this, institutions will be able to have a better understanding of the crypto-market when it comes to quantitative research, NAV calculations and more.
The product, which is based on index datasets of CryptoCompare, will “provide minute-by-minute pricing data for the most liquid cryptocurrency markets.”
Charles Hayter, Co-founder and CEO, CryptoCompare said,
“We are delighted to partner with NASDAQ on a joint Aggregate Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform; we will give traders and investors a competitive edge.”
CryptoCompare provides real-time cryptocurrency market data on 5,982 crypto-assets and over 277,744 trading pairs. The data is also provided to media outlets such as Yahoo Finance, Thomson Reuters and many others.
CryptoCompare was previously in the news after it announced a collaboration with BitMEX to build a crypto-futures dataset.
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Bitcoin is an enterprise; its users are comparable to traditional shareholders, claims Goldmoney Founder
Bitcoin was conceived in the backdrop of banks bailouts and the 2008 financial crisis. The recession and the loss of faith in banking, financial institutions gave Bitcoin a platform to rescue the ones affected, giving them hope for a better financial system without the hassle of corrupt institutions. With the rise of Bitcoin’s fame, both in the darknet and in the mainstream, questions about its regulations had to arise.
The question was put to rest when the SEC/CFTC ruled Bitcoin as a commodity and taxed it. However, Goldmoney’s Roy Sebag brought this discussion up again recently in his tweet thread, where he said that Bitcoin as an enterprise is working towards its good, comparing its users to traditional “shareholders” among other things, while concluding that Bitcoin is a security. He tweeted,
“Is Bitcoin a security? <10 years old so regulators haven’t even had enough time to truly learn how it works (think Napster or Kazaa in early days). Miners are clearly issuing coins and responsible for governance, an absence of formal relations among them is irrelevant….”
In successive tweets, Sebag attributed miners with the role of “stewarding” the so-called enterprise. In return, these miners get paid in “direct fees” or in “share appreciation.” In Bitcoin’s case, it is the mining reward, which is “BTC”. Similarly, buyers are compared to “shareholders” with a common interest in the enterprise, i.e. profit. Sebag added,
“Coins trade at exchanges. The common enterprise is designed for the price appreciation of coin.”
Bitcoin could face a shutdown by the government, just like it did with big players in file sharing, said Sebag, who added that Bitcoin could also be interpreted as a security under the “34 act of the SEC.” The Goldmoney Founder concluded that “this realization rests on the belief that neither Bitcoin nor any common enterprise is truly decentralized.”
However, his inputs weren’t very well-received by many in the crypto-community. Casa’s CTO Jameson Lopp refuted Roy Sebag’s ideas, tweeting,
“Roy will believe what he wants to believe, though if he’s not actually participating in Bitcoin then his beliefs are irrelevant to its consensus formation.”
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