12-27-2017: Crypto Jobs Are Booming!

Cryptocurrency jobs are booming as Bitcoin is becoming mainstream. Over the course of January through November of 2017, the number of job postings on LinkedIn with Bitcoin in the headline has boomed by 5,753% to a total of 4,917 listings. Overall, the number of jobs associated with Bitcoin and blockchain rose 306% on LinkedIn during the 12 month period that ended in mid-November.

According to Business Insider, Ari Paul, the chief information officer and co-founder of cryptocurrency hedge fund Blocktower, has purchased $1 million worth of options that offers a 30-fold payout if the bitcoin price hits $50,000 by the end of 2018, on behalf of Blocktower. In an interview with CNBC’s Fast Money, Paul explained that the option contracts Blocktower has purchased expire if the price of bitcoin fails to reach $50,000 by the end of 2018. But, if it does, it pays out the firm on a 30 to 1 odds. Hence, a $1 million bet on the LedgerX options platform on the price of bitcoin achieving $50,000 would generate Blocktower a $29 million in profit.

Bitcoin trading companies in Israel may soon face tighter rules imposed by the country’s finance regulator. According to Reuters, the head of the Israel Securities Authority (ISA) Shmuel Hauser said in a business conference on December 26th that a proposal will be presented to the ISA board next week, which seeks to ban any company that has a major involvement in bitcoin trading from the Tel Aviv Stock Exchange (TASE). Hauser told the news agency: “If we have a company [and] their main business is digital currencies, we would not allow it. If already listed, its trading will be suspended.” [coindesk]

Yet another ICO is being faced with a class-action lawsuit alleging its cryptocurrency should be considered a security. ATBCoin LLC is accused of violating the Securities Act by issuing unregistered securities with the expectation of profit in the form of the ATB coin and the placement of all remaining funds invested into a trust, in the interest of investors. And lastly, kind-hearted Etherians hung a little crypto on the “Merkle Tree” at a Toronto-based charity event. On December 21, 2017, Covenant House, an organization that helps homeless children and youth, surpassed a fundraising goal and raised $70,000 in the form of Ether donations. The donations are enough to feed 100 people for three months, according to event staff.

NOTE: This is an emergent and evolving highly technical space. You should understand how involvement in this space impacts you and acknowledge all risks before participating or implementing any recommendations.

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