February 12 – 18, 2018 | Litecoin Surges, Olympics & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Litecoin Price Surges Over 60%

February 16, 2018 – Cryptocurrencies experienced a sharp reversal this past week, and litecoin led the pack, rising over 60% from its weekly low. Litecoin has been regarded as the ideal small payment coin due to its faster transaction times and lower transaction costs.

Many believe that the upcoming hard fork was the fuel for this litecoin rally. The hard fork will result in a new cryptocurrency called Litecoin Cash. When the fork takes place, any investor holding litecoin will receive an equal amount of Litecoin Cash. Experts see this hard fork as a good sign for Litecoin, however this recent price movement is largely the result of speculation. Nonetheless, it has pushed “the silver to Bitcoin’s gold” back into the top 5 cryptocurrencies based on market capitalization.

Read the full article here.

Canadian Speed Skater is the First Olympic Athlete Paid in Crypto

February 15, 2018 – For the first time in history, an Olympic athlete has been paid in cryptocurrency. The athlete, Ted-Jan Bloemen, is a Canadian speed-skater who struck a sponsorship deal with ONG Social, a social network and crypto community, and CEEK VR, a virtual reality company. According to his agent, Bloemen is exploring a “whole new frontier” when it comes to Olympic athlete funding.

Sources say ONG Social has mined 300 million coins, worth a total of $138.69 million. It is not known exactly which coins ONG social has mined, or which ones Bloemen will receive. As cryptocurrencies become more widespread in adoption, sponsorship deals and contracts between companies and athletes using crypto may become more common. Some cryptos, such as ether, harness powerful technology such as “smart contracts” which could apply well within sponsorship deals.

Read the full article here.

Canadian Bank Builds Vaults For Cryptocurrencies

February 14, 2018 – VersaBank Inc. is taking the plunge in a global banking industry that’s been reluctant to delve into cryptocurrencies and the technology behind them. The Ontario-based bank plans to have its digital vault ready by June, and offer the service to customers around the world. The company is set to build a virtual safety deposit box for cryptocurrencies and other digital assets. The company has a market value of about $158 million CAD, and has outperformed Canada’s big banks, with its shares up a sharp 24% so far this year.

“We’re using what banks are all about, safety and security, only what we’re doing now is saying that physical box in the basement is getting obsolete” said David Taylor, the CEO of VersaBank.

Read the full article here.

Coinbase Introduces Commerce, the “PayPal of Crypto”

February 15, 2018 – Coinbase announces “Coinbase Commerce”, a new PayPal like platform which it claims will simplify the process of making purchases with cryptocurrencies. Coinbase Commerce is designed to be integrated with a retailer’s existing online payment system or e-commerce storefront. Merchants using the platform will be able to accept payments in bitcoin, bitcoin cash, ether, and litecoin.

This isn’t the first such platform out there, but Coinbase is the most popular US exchange and this is a step towards mainstream commercial adoption. Shopify, which allows its users to establish their own online stores, has already offered Coinbase Commerce as an option to its customers.

Read the full article here.

Crypto-Miners Drawn to Small Canadian Towns

February 15, 2018 – The computers used by cryptocurrency miners consume a huge amount of electricity and emit an abundance of heat. Two things many small Canadian towns are actually well equipped for. As cryptocurrency prices rise, investors are looking to expand their mining operations and lock down cheaper sources of energy to operate and cool their computers. Provinces such as Quebec and Manitoba offer some of the lowest electricity rates in North America and the colder climate cuts down on cooling bills.

Several towns, such as Powerview-Pine Falls, have lost their heavy industries like lumber and paper mills over the years. The machinery was sold off and jobs cut but the high-powered transmission lines remain. These towns had excess power capabilities but no one to sell it to until cryptocurrency miners arrived. Along with their power hungriness, these mining operations may serve as a much needed employment boosters for these dwindling industrial communities.

Read the full article here.

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This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.