May 21 – 27, 2018 | Apple, Bitcoin Testing & More Crypto News

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

Apple Co-Founder Steve Wozniak Sees Ethereum Being the Next Apple

May 21, 2018 – Apple co-founder Steve Wozniak thinks that the Ethereum platform could one day be just like Apple, thanks to its ability to do many things and act like a platform for a whole industry. The legendary entrepreneur and investor still holds cryptocurrencies today, and holds them so he “can experiment with paying for different things”. Wozniak believes in a long-term approach on Ethereum, and sees the platform expanding in popularity and following an Apple-like future.

Ethereum has well established itself as the #2 player in the cryptoasset market, behind none other than Bitcoin. In short, Ethereum is meant to be a “World Computer”, providing the ability to replace centralized servers with thousands of nodes (individual computers) across the world.

Read the full article here.

Germany’s Deutche Boerse is “Deep at Work” on Bitcoin, Still Behind Canada and the US

May 23, 2018 – Jeffrey Tessler, the head of clients, products, and core markets at Deutche Boerse says that the major exchange operator is looking at offering cryptocurrency products. American rivals CBOE Global Markets and CME Group, as well as Canada’s TMX Group through its subsidiary Shorcan DCN, have already begun to delve into cryptocurrency products and derivatives. So far, no other European exchange has been able to follow suit, and Deutche Boerse may be a first for Europe.

At an event organized by the Association for Financial Markets in Europe, Tessler said that “before we move forward with anything like Bitcoin, we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.” Tessler also acknowledged that the exchange group is “not at the same stage” as CME quite yet.

Read the full article here.

MIT Tests Smart Contracts Powered With Bitcoin’s Lightning Network

May 24, 2018 – Researchers at the prestigious US university MIT have reportedly tested smart contracts on the bitcoin lightning network, providing a rare opportunity to see how bitcoin can handle millions of transactions with a greater level of complexity. Through the school’s Digital Currency Initiative, which began back in 2015, researchers have tested and experimented with cryptocurrency technology. In this case, researchers are experimenting with bitcoin’s ability to process transactions based on “defined external events”, such as the current weather or changing stock prices through the power of smart contracts. Bitcoin is the world’s oldest and most established cryptocurrency, with a market capitalization of about $125 billion USD at the time of writing. The bitcoin lightning network is essentially an “added layer” on top of the existing bitcoin blockchain, allowing for faster, cheaper, and more advanced transactions. Historically, smart contracts have mostly lived on the Ethereum blockchain, whereas bitcoin has primarily served as a store of value and as the leading blockchain-based payment method.

While the bitcoin lightning network provides scale for future development, smart contracts can add incredible new functionalities to bitcoin. For example, if the development from MIT’s tests are implemented into bitcoin, an investor could make a bet based on current global events automatically. MIT researcher Alin Dragos says “we at DCI, we really believe in the lightning network,” he adds that “Bitcoin doesn’t scale very well. I decided there has to be something better. Turns out what’s better is lightning. It’s the way to scale.”

Read the full article here.

Coinbase Could Trade “Hundreds of Tokens” After Acquisition of Paradex

May 23, 2018 – Leading cryptocurrency exchange Coinbase has acquired Paradex, a virtual coin trading platform. Coinbase plans to enhance Paradex’s existing technology and provide the services to customers outside of the United States. By acquiring Paradex, Coinbase is setting itself up for the ability to trade hundreds of existing cryptocurrencies on its secure platform. Previously, Coinbase had only offered the trading of four leading cryptocurrencies, bitcoin, ether, litecoin, and bitcoin cash.

Previously, most leading cryptocurrency exchanges had been hesitant to list the thousands of alternate coins and ICO tokens on their platforms, most likely due to regulatory uncertainty and the potential for scams and other manipulative tactics. Coinbase is set to “eventually” release Paradex’s offerings to its U.S. customers after implementing “changes for compliance purposes”.

Read the full article here.

US Justice Department Conducts Criminal Probe on Cryptocurrency Price Manipulation

May 23, 2018 – The US Justice Department has reportedly begun a criminal probe into the price manipulation of cryptocurrencies. The criminal probe is set to focus on illegal practices which can influence market prices, such as the creation of fake buy or sell orders or flooding orders on illiquid cryptocurrencies. Otherwise known as spoofing or wash trading, these practices can trick other traders into buying or selling. Other public markets have historically experienced these same tactics and are actively prevented from being manipulated. The sophistication and breadth of the cryptocurrency market remains a target for federal authorities as the emerging digital asset classes increase in adoption. Federal prosecutors have teamed up with the Commodity Futures Trading Commission (CFTC) to bring prevent further criminal activity in the cryptocurrency market.

The incredible price rise of bitcoin and other cryptocurrencies in 2017 created a widespread investment interest, particularly from retail investors who may be misled by manipulative market tactics. Other scams and misleading cryptocurrency investment opportunities have otherwise clouded an industry of simply transferring digital ownership, and driven some of the interest away from the core, top-tier cryptoassets such as Bitcoin and Ethereum.

Read the full article here.

3iQ Global Cryptoasset Fund: Price as at May 25, 2018

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

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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.