#NYSE Owner to Open Exchange, #Binance CEO Defends ICOs and Congress Talks #Blockchain

Crypto Corner - May 8, 2018

#NYSE Owner to Open Exchange, #Binance CEO Defends ICOs and Congress Talks #Blockchain

International Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is developing an online cryptocurrency exchange according to a report in the New York Times today. Citing information gleaned from "emails and documents" and four sources who requested anonymity, the NY Times reports:

"Details of the platform that Intercontinental Exchange is working on have not been finalized and the project could still fall apart, given the hesitancy among big Wall Street institutions to be closely associated with the Wild West of virtual currencies. A spokesman said that the company had no comment."

Zhao Changpeng, CEO of cryptocurrency exchange giant Binance, wrote a blog post defending ICOs against traditional Venture Capital yesterday.

"Through my own experience, and watching hundreds of other projects at a close distance, I would say raising money through ICOs is about 100 times easier than through traditional VCs, if not more. With the ease of raising money increased, logic says there may be 100 times more startups, well-funded startups, where ICOs are allowed."

The U.S. Congress is meeting to discuss blockchain today. According to a report on CoinDesk, the talks will emphasize blockchain's use in supply chain management:

"According to Illinois Representative Randy Hultgren, the conversation will focus in part on how the tech can solve issues around intellectual property theft - a potential hot-button issue considering the Trump administration's recent statements on IP theft by the Chinese government.

"This hearing will help examine how new technologies are improving the ways in which consumers can be better informed about where their products are coming from, how companies can validate a secure, ethical supply chain and how U.S. intellectual property can be better defended against unlawful practices," Hultgren said in a statement."

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