July 9 – 15, 2018 | Bank of Canada, Crypto Courses & More Crypto News

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

Bank of Canada Updates Their Bitcoin Awareness and Usage Report

July 12, 2018 – The Bank of Canada has released an update to their Bitcoin awareness and usage research report. The survey was conducted back in November 2016, with the new update using survey data from December 2017, near the height of the crypto bull market. Interestingly, the survey data indicates that just 5% of Canadians own Bitcoin – up marginally from just 2.9% reported in November 2016. The research report also indicates that Canadians are purchasing bitcoin for different reasons than back in 2016. In 2016, almost half of respondents said that they held Bitcoin for transactional purposes, such as paying for goods online, or to send money to other people. The new survey conducted notes that in December 2017, almost 60% of people who owned Bitcoin were holding the cryptoasset for investment purposes. The data comes as no surprise, as the heated market in the last quarter of 2017 had many Canadians chase the price appreciation in cryptocurrencies, justifying their reasons for purchasing were because “my friends own Bitcoin”.

Despite relatively low ownership of the leading cryptocurrency, Bitcoin “brand” awareness remains high in Canada. The new Bank of Canada survey indicates that 85% of Canadians are aware of Bitcoin, up 64% from the prior survey. The new data may indicate that Canada’s leading role in cryptocurrency mining may have helped increase its awareness to the greater population.

Read the full article here.


Universities are Offering Crypto Courses and Degrees 

July 15, 2018 – Three more universities in Russia are planning to offer crypto and blockchain courses at the start of the new academic year in September. The courses are set to cover a wide range of crypto-related topics, such as cryptography, blockchain technology, distributed ledger technology, alternative payment systems, and the emerging digital economy. Despite the universities being situated in Russia, some of the courses will feature guest lecturers from Europe, India, and the USA while being taught in English with hopes to target foreign students. Some leading Russian universities are already offering crypto-related courses, such as Moscow State University, the Moscow Institute of Physics and Technology, and the National Research University Higher School of Economics.

One of the three new universities, The Novosibirsk State University (NSU), is set to offer a Master’s Degree in Cryptography this September, led by industry professionals from around world. Students will be taught encryption techniques commonly found in blockchain systems through an intensive two-year training program instructed in English. The university is hoping that their new degree will gain international recognition, certification, and accreditation.

Read the full article here.


FINRA Requests Member Firms to Submit Crypto Activities

July 9, 2018 – The Financial Industry Regulatory Authority (FINRA) has requested that its member firms submit a broad range of details related to cryptocurrency-related activities. FINRA is looking to see which of its member firms are buying or selling cryptocurrencies, accepting cryptocurrencies from their clients, managing crypto-pooled funds, participating in ICOs or other token sales, or offering crypto advice.

FINRA’s new regulatory notice is not mandatory for its member firms. The US self-regulated body is still trying to get a grasp on the extent to which its members are involved in the cryptoasset space, noting concerns regarding “fraud and other securities law violations involving digital assets”. FINRA is also looking to monitor which of its member firms are engaging in cryptocurrency mining, or “any other use of blockchain technology”.

Read the full article here.


Wall Street Trader: Bitcoin is the Best Bet for Crypto Investors

July 10, 2018 – Bart Smith, the head of digital assets at major trading firm Susquehanna International Group, notes that Bitcoin is still the best bet for crypto investors as its use cases remain high and people are “functionally using” the cryptocurrency. Bitcoin remains the oldest and largest cryptocurrency by market capitalization, with widespread international adoption. Smith believes that the competitive advantage of Bitcoin over other cryptocurrencies is the fact that it has established use cases, primarily for its ability to be sent overseas as a form of payment quickly and cheaply.

Smith points out that a lot of people work in one country and send money back to a different country – a situation that is very bitcoin-friendly. “They use Western Union, traditional banks; It is slow and it is expensive,” he said. “And there are people that can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.”

Read the full article here.


Billionaire Steven Cohen Invests in Crypto Hedge Fund

July 12, 2018 – Steve Cohen, the billionaire investor and founder of Cohen Private Ventures, has reportedly taken a stake in Autonomous Partners, a leading crypto hedge fund involved in acquiring cryptocurrencies and other companies involved with blockchain. Autonomous Partners, who is led by venture capitalist Adrianna Simpson, was formed back in December in an effort to invest in areas that they find to be “long-term” in the crypto sector. Notably, the hedge fund dedicates some of its funds to leading cryptocurrencies bitcoin and ether, which have been well established for quite some time and lead cryptocurrency market capitalizations as number one and two respectively.

However, Autonomous Partners has been reluctant to invest in another popular cryptocurrency, Ripple, which is the third largest cryptocurrency by market capitalization. “I have a lot of concerns about the level of centralization there, and I have regulatory concerns if what they have issued is a security,” said Simpson. The comments follow the SEC’s recent classification of both bitcoin and ether as not being securities just last month.

Read the full article here.


3iQ Global Cryptoasset Fund: Price as at July 13, 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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Disclaimer

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

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

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.