May 15 – May 22, 2020 | Bitcoin Pizza Day, JPMorgan Warns of Digital Currency Threat, and More

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

3iQ’s Top 5 Digital Asset Stories of the Week
May 15 – May 22, 2020

Bitcoin Pizza Day 2020: Two Pizzas Now Worth $91 Million USD

Decrypt | May 22, 2020

Today marks the 10th anniversary of “Bitcoin Pizza Day”, a yearly crypto-industry event. Ten years ago, Laszlo Hanyecz became one of the first people to buy physical goods with BTC. Unfortunately for Hanvecz, he bought two pizzas for 10,000 BTC a decade ago – meaning those pizzas were worth $91 million USD at today’s exchange rate. According to Hanyecz, he doesn’t regret the transaction.

Read the full article

JPMorgan Warns That Digital Currencies Could Threaten US Geopolitical Power

Bloomberg | May 22, 2020

After approving bank accounts for cryptocurrency exchanges Coinbase and Gemini last week, JPMorgan has again resurfaced, this time claiming that digital currencies such as bitcoin or central bank digital currencies (CBDCs) could threaten US geopolitical power in the future. “There is no country with more to lose from the disruptive potential of digital currency than the United States,” stated analysts at JPMorgan. “This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages.”

Read the full article

Bitcoin’s Third Halving: A Thesis for Institutional Investment

Messari, Bitstamp | May 20, 2020

Messari, a leading digital asset analysis and data aggregation firm, has joined with the major cryptocurrency exchange Bitstamp to provide an in-depth overview on Bitcoin’s most recent halving event which occurred on May 11, 2020. The report delves into the details surrounding the halving event, and how leading digital asset fund managers such as Grayscale, 3iQ Corp, and others are leading the institutionalization of Bitcoin around the world.

Read the full report (PDF)

Former Coinbase Lawyer to Become Head of Major US Bank Regulator

CoinTelegraph | May 21, 2020

According to the United States Office of the Comptroller of the Currency (OCC), the former chief legal counsel of Coinbase, Brian P. Brooks, will become the head of the OCC on May 29. Brooks’ move to US banking regulation after working for one of the largest cryptocurrency exchanges in the world may suggest that there is now a heightened interest for digital assets within traditional banking and regulation.

Read the full article

Binance Research: Bitcoin Network Overview

Binance | May 21, 2020

Binance, one of the world’s leading cryptocurrency exchanges, has recently released a new detailed overview of the Bitcoin network. The overview is an excellent first-step for those unfamiliar with the network, but also explains a myriad of more complex topics within the Bitcoin ecosystem for those with a heightened understanding, such as the Schnorr Signature upgrade proposal, and other development activities currently underway.

View the overview

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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.