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What happened to the bitcoin bubble?

Chris Skinner

I was interviewed by UBS’s wealth management team a month ago, when the bitcoin bubble was in full bloom. That is the contention of Chris Skinner, Chairman of The Financial Services Club, author of thefinanser.com blog and one of Financial News’ ‘FinTech 40’ most influential people in financial technology.

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China’s Bitcoin Buying Binge

PYMNTS

In a buying spree that began on Friday (May 27) and carried on through the four days since, Chinese investors managed to push the price of bitcoin up by 16 percent. As of the time this story was written, the price of an individual bitcoin was pushing $550. All in, bitcoin has added $1.2

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Bitcoin Daily: Ping An’s FinTech Arm Teams Up To Launch Blockchain Solution; CFTC Calls For Default Ruling For Alleged Ponzi Scheme Founder

PYMNTS

OneConnect Financial Technology and China Merchants Port Group ( CMPort ) will work to create a blockchain-based system with Shenzhen customs to serve the Guangdong-Hong Kong-Macao Greater Bay Area. The firm claimed it would return customer funds, but allegedly was in the process of liquidating the bitcoin for around $147 million.

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Bitcoin Daily: Chinese Blockchain Co. Invests In Cannabis; Canada, Singapore See Positive Results In Cross-Border DLT Tests

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Only through continued collaboration and fundamental research will it be possible for this technology to mature and for policy-makers to fully understand its potential,” Scott Hendry, Bank of Canada senior special director of financial technology, said in a press release about Jasper-Ubin project3.

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Bitcoin Daily: People’s Bank Of China To Certify Digital Payment Products; Korean Security Agency Supports Blockchain Projects With $9M Fund

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The People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services. His comments even caused a price boost of bitcoin and blockchain stocks to the point that the Chinese state media advised people to stay levelheaded.

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Bitcoin Daily: Bank Of Canada Tests DLT; Crypto Startup Uphold Gets Into Loans

PYMNTS

The SBI Group plans to license Sepior ApS ’ wallet technology to use in its own wallet, which will become a part of its digital currency exchange platform, the company said in an announcement. Work remains to be done to determine how it can be set up to maximize the benefits for the whole financial system.”.

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How Treasurers Can Prepare For A Real-Time Payments Ecosystem

PYMNTS

One financial technology firm currently navigating the process of securing a bank charter is Avanti Financial Group , and as it approaches market launch, Founder and CEO Caitlin Long said the firm is focusing on another area of financial services that has struggled to manage complex regulatory challenges: digital assets.

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