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Former CFTC Chair Gary Gensler, who’s leading Joe Biden’s financial oversight team, may be tapped as Deputy Treasury Secretary.

Grayscale’s Bitcoin Cash and Litecoin offerings are trading at a more than 1000% premium compared to underlying asset value, according to market performance data on its website.

The firm’s market data for Grayscale Bitcoin Cash (BCH) shows market price per share at $37.90, while BCH holdings per share remains at $3.19. That’s a 1,188% premium over the price of the asset.

Grayscale’s Litecoin Trust (LTC) is performing similarly, with market price per share at $500, while LTC holdings per share sits at $8.37. That’s a 5,974% premium. 

These products trade on over-the-counter markets rather than on an exchange. A difference in premium creates an opportunity for players to capture the spread between the premium and the net asset value (NAV), hedge funders told The Block earlier this year.

Weekly premiums of Grayscale’s Bitcoin (GBTC) and Ethereum (ETHE) offerings are sitting at 22.78% and 59.93%, respectively.

The ETHE premium has seen a steep drop off from its bull run earlier this year when it traded as high as 830% in June. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin’s price rise stalled out just before hitting $19,500 Wednesday. The Ethereum network’s fees are in an upswing.

Canadian crypto trading platform Coinsquare is shaking up its board of directors, the exchange announced Wednesday. 

According to an official announcement, executives Nicholas Thadaney and Wendy Rudd will join the board. Both have experience in Canadian securities regulation, investment dealer operations and regulated marketplaces, the announcement stated. 

Their appointments come shortly after Coinsquare confirmed Stacey Hoisak as its new CEO, Lawrence Truong as CCO and Eric Richmond as COO. 

“The measures we have taken are in strict adherence to regulatory requirements and demonstrate Coinsquare’s strengthened commitment to our clients, employees, shareholders, and the digital asset community,” said Hoisak. “Our goal is to create a customer-centric safe place for Canadians to trade digital assets.”

The exchange made headlines in June after it said an internal theft in 2019 resulted in personal information of some of its customers landing in the hands of a hacker or group of hackers.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Galaxy Digital’s institutional bitcoin fund raised an average of $1.6 million from its 33 unnamed investors.

This year, come prepared to explain the asset that has everyone from famous financiers to political dissidents talking about a money revolution.

China’s state-sanctioned blockchain infrastructure provider BSN is adding cross-chain protocol Polkadot, decentralized cloud data startup Oasis and China-based project Bityuan to its network.

Some OKEx’s users in China are determined to leave the exchange despite new incentives designed to keep them.

Quick Take

• The initial phase of Eth2 — the next-generation of Ethereum — is rolling out next week. It represents the first step in Ethereum’s transition into a proof-of-stake network.
• But there’s still a lot of work left to do for the full Eth2 upgrade, Justin Drake, Eth2 researcher at the Ethereum Foundation, told The Block.
• The rest of the Eth2 journey won’t be without its challenges.

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In a fragmented global market, price quotes are all over the place. That’s why CoinDesk created the Bitcoin Price Index (BPI) and is standing by it.