An article in Business Insider highlights a $96 billion hedge fund, Man Group; the firm initially held off on rolling out their AI powered trading bot out broadly until recently; by 2015 AI was contributing half of the profits to Man Group’s largest funds. Source
CME Group announced today that they plan to offer bitcoin futures by the end of the year which is a change from what they said just a month ago; others like Cboe Global Markets said earlier in the year it plans to do the same by early 2018; the move by exchanges will open up the bitcoin market to professional traders and institutional investors. Source
Starting in February, Robinhood will allow users to buy and sell bitcoin and ethereum without any additional fees; they will compete directly with Coinbase who charge 1.5 - 4% in fees; users will also be able to track prices, news and set alerts on many top cryptocurrencies; the company plans to operate this part of the business on a break-even basis. Source
Users in California, Massachusetts, Missouri, Montana and New Hampshire will now have access to trade bitcoin and ethereum commission free; Robinhood plans to open to most states by the middle of 2018; over 4 million people have signed up for accounts with Robinhood. Source
The new round puts a valuation on the company of $5.6 billion; they are now the second most valuable private...
Ken Sena runs a group within Wells Fargo Securities and recently introduced an artificially intelligent equity research analyst; the bot tracks stocks and put a sell rating on Facebook and Google, two of the top companies working on artificial intelligence; Sena provides his perspective on the new bot and where it might be falling short. Source
Buying and selling of cryptocurrencies may be available as soon as June, but the bank is still working on how it will store them; Goldman remains one of the few banks who are leading the charge when it comes to trading cryptocurrencies and it remains to be seen whether other banks will follow suit. Source
With the exception of those who reside in few states, users of Square’s Cash payments app can buy and sell bitcoin; users are limited to purchasing $10,000 in bitcoin per week; Square will not add fees to bitcoin transactions and uses the major exchanges to calculate prices. Source
Circle is planning to offer a similar product to Coinbase called Circle Invest; the platform has now launched in beta as users reported they were receiving invites; the app will support Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ethereum Classic; the app currently does not support cryptocurrency deposits. Source
Some of the biggest banks have started to invest greater resources in quantum computing as they hope the technology is...