Bitpay CCO Holds Pessimistic Outlook for Altcoins

Bitpay CCO Holds Pessimistic Outlook for Altcoins

In a recent interview, Sonny Singh, the chief commercial officer (CCO) of Bitpay, Inc, shared his outlook for the cryptocurrencies, emphasizing his optimism for the bitcoin markets, whilst also espousing a grim outlook for altcoins.

Also Read: Bittrex to Launch Crypto Exchange in Malta Next Month

“Big Entrants” Coming to Crypto Next Year – Sonny Singh

Bitpay CCO Holds Pessimistic Outlook for AltcoinsWhen asked if the cryptocurrency markets have seen the low of the bear season, Mr. Singh stated: “It’s hard to say – I think right now the markets are looking for some defining moment or catalyst, […] and right now you are just seeing rumors that someone might do something.”

“But I think next year you are going to see the big entrants become real,” Mr. Singh continued, “where you see, Goldman does launch a trading desk, Fidelity does launch a bitcoin product, Square offers bitcoin processing for merchants, Blackrock launches an ETF. So all of that will then become real, and you will see some adoption actually – and then you’ll see the price start bouncing back up again.”

“Until then, I think we’re going up and down on rumors,” he added.

Bitpay CCO Predicts Grim Future for Altcoins

Bitpay CCO Holds Pessimistic Outlook for AltcoinsRegarding whether declining liquidity in the cryptocurrency markets and increasingly aggressive tactics on the part of many virtual currency exchanges could pose a threat to future of the cryptocurrency markets, Mr. Singh stated: “That’s always been the concern about the ICOs, and the trading exchanges in the ICO industry that aren’t quite regulated. […] Last year, getting an ICO token listed on a Binance or a Bittrex could increase your market valuation [by] […] a billion dollars.”

Mr. Singh continued: “ICOs are no longer in favor anyway – they’re down 95 percent. So, people aren’t really trading ICOs as much anymore.”

The Bitpay CCO asserted that the performance of many ICO tokens is dependant on the price of the leading cryptocurrency markets, “Until [BTC] and the other large ones […] get back some of the gains, the ICO markets are going to be in a lot of trouble actually, and a lot of those ICOs will never make it back to where they were 8 months ago.”

“We’ve Never Been More Bullish”

Bitpay CCO Holds Pessimistic Outlook for AltcoinsWhen asked how the bear market has impacted Bitpay’s business, the company’s CCO stated: “At Bitpay, and [among] people I talk to in the industry, we’ve never been more bullish actually,” adding “Business is great, we’re hiring more people, we’re working with several global large companies around the world, […] everyone [is] going full speed ahead.”

“I think the issue is, again, in the altcoins. Those will never come back, I believe, the same way a bitcoin will come back. Y’know, Fidelity, Blackrock – they’re not launching altcoin products, they’re going to launch bitcoin products.”

What do you make of Sonny Singh’s predictions for the cryptocurrency markets? Do you share his pessimism regarding the future for altcoins? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Youtube

The Bitcoin universe is vast. So is Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post Bitpay CCO Holds Pessimistic Outlook for Altcoins appeared first on Bitcoin News.

Tether Announces Appointment of New Chief Compliance Officer

Tether Announces Appointment of New Chief Compliance Officer

Tether has announced the appointed of Leonardo Real, a former anti-money laundering (AML) quality control manager at Bank of Montreal, as the company’s new chief compliance officer (CSO). The announcement comes just one week after Phil Potter, one of Tether’s directors, announced that he will be leaving sister company, Bitfinex.

Also Read: Japanese Police Seize Cryptocurrency for Parking Violations

Tether Announces New CCO

Leonardo Real, former AML control manager of Canada’s fourth-largest financial institution, Bank of Montreal, has been announced as Tether’s new chief compliance officer.

A press release issued by Tether has stated that Mr. Real has been brought in “to assist in setting the highest standards in compliance.” Jean-Louis van der Velde, the chief executive officer of Tether welcomed the arrival of Mr. True, stating “We are all very excited to introduce Leonardo as Chief Compliance Officer at Tether, as he joins us on what has already been a remarkable journey to date disrupting the legacy financial system. His depth of experience managing AML risk in capital markets, as well as the wealth management and commercial banking sectors, combined with his proven expertise in quality control management and strategy formulation will make him an invaluable asset to our company. All of us at Tether have every confidence in his ability to oversee and manage all relevant compliance issues as we continue to move forward and grow.”

“We are particularly excited to announce this key hire at a seminal point in the life of the blockchain and cryptocurrency sector. As the industry matures, all actors within the space shall be expected to meet a higher standard of industry best practices. As Tether continues to work to realize our vision of total transparency and unparalleled security within the cryptocurrency market, we will always endeavor to set the gold standard in regulatory compliance. Leonardo will play an important role in realizing these aims, and we are very excited to welcome him aboard as we look forward to all that lies ahead,” the Tether CEO added.

Mr. Real’s Cryptocurrency Resume

Before working with Bank of Montreal, Tether states that Mr. Real “also has experience working in financial day, stock, and futures trading,” adding that “Real is a proven thought leader in the industry, having co-written the 2016 ACAMS Today Article of the Year which focused on money laundering risks associated with cryptocurrencies.”

“Joining Tether as CCO is an incredibly exciting move for me personally, and I am particularly impressed by the motivation, dedication, and talent of the Tether team. I look forward to helping showcase Tether’s commitment to transparency and regulatory compliance within the blockchain and cryptocurrency space. As a longtime advocate of blockchain technology and the integration of cryptocurrencies into the mainstream, I am looking forward to putting my experience in AML and regulatory compliance in traditional financial institutions to use, to ensure that the Tether project can continue its work disrupting traditional industries,” said Mr. Real.

Mr. Real “also organized a Blockchain, Cryptocurrency, and AML event held in Toronto, Canada in August 2016, bringing together regulators, bankers, law enforcement professionals, and companies in the blockchain space to discuss responsible use of cryptocurrencies.”

Phil Potter to Stand Down From Bitfinex

Tether Announces Appointment of New Chief Compliance OfficerTether director, Phil Potter, recently announced that he would stand down from his role as the Bitfinex’s chief security officer, before soon leaving Tether’s supposed sister company.

Mr. Potter stated: “As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team.”

Tether Sends 100 Million USDT to Bitfinex

At 12:53:29 AM, 13th of July, 2018, 100 million USDT was sent to wallet that is owned by Bitfinex, following one of few major Tether issuances of recent months.

At 11:59:27 PM on the 25th of June, Tether created 250 million USDT, following the creation of the same quantity of USDT on the 19th of May.

What is your response to Tether’s appointment of Leonardo Real to the position of chief compliance officer? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Tether Announces Appointment of New Chief Compliance Officer appeared first on Bitcoin News.

PR: Digital Ticks Just Launched First Look of Their Mobile App

Digital Ticks Launches Mobile App

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

Digital Ticks, the hot, new ICO in town is out with their First Look of Mobile app of their exchange well ahead of their schedule!

This is very exciting news as this is no ordinary crypto exchange. Digital Ticks is the first ever Commodity Crypto exchange. Users will be able to trade all the different types of crypto assets as well as commodity to crypto assets.

Why Digital Ticks?
The platform is the first ever commodity to crypto exchange to be built by the traders for the traders. With a simple to use User interface, it is designed to be used by both the novice as well as experienced traders.

The team believes in helping the investors make their decisions based on the work done and not based on plain statements.

The CCO of Digital Ticks, Mayur Poddar quoted saying
“We want people to see the results and our progress first-hand, and we want to enable them to make an investment choice based on statistics rather than statements.” This is again reassuring each and every participant of the ICO that their team is dedicated and will get the job done.

After the success and the huge participation received during the pre-sale whole team was extremely geared up to deliver a quality product ahead of the timeline.

“The pre-sale contributions and the overwhelming response of the contributors are both exciting and ensuring that Digital Ticks is on the right path in the journey to make every commodity tradable using crypto. And we believe that we are stepping into the future of cryptocurrency with a new dream and our footsteps would be followed by all others who share the same dream.”
– Quoted by CEO of Digital Ticks- Jitu Bajaj.

Company’s decision to launch First look of Mobile App Interface at the same time as its Public token sale starts in fact prior to it is in contrast to most other companies which only have a white paper and website at the time of their public sale. Fuelled by the huge success of the pre-sale, the team went on to deliver Apps for both Android and IOS platform along with multiple Blockchain smart contracts. This gives public token sale participants confidence in the ability of the team behind the project.

Closing Thoughts
With their Public token sale started on 15th April 2018, the team has worked day and night and have already released their Mobile App’s First Look well before their planned release date. At this current pace, they will be able to get the entire platform up and running well before the deadline and might just end up being one of the greatest ICO’s.

To be a part of this revolution and experience it, you can download App through google play store for Android and Apple App Store for IOS version.

Download Digital Ticks – First Ever Commodity Crypto Currency Exchange Mobile App
For Android :- click here
For IOS :- click here
Crypto enthusiasts can participate in DTX public token sale by sending Bitcoin / Ethereum / Bank Wire Transfer directly to their Dashboard of Digital Ticks by just signing up on


Contact Email Address
Supporting Link

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Digital Ticks Just Launched First Look of Their Mobile App appeared first on Bitcoin News.