My first long Twitter post and I want to share some details how @BTCMarkets decides what tokens/coins to list.
Projects are nominated by looking firstly at client demand. For e.g. based on client requests on social media, inbound client support tickets or where possible to list Top 40 tokens (acc. to @CoinMarketCap.)
From there, the project whitepaper is reviewed by our financial services legal team to ensure it is not a security under Australian regulation. Concurrently, due diligence is done on the founders and project itself. Ideally, we are looking to sidestep listing any projects which may cause legal issues or potential problems for clients down the line.
All listings are unpaid. Otherwise it could compromise our ability to do due diligence on projects. Although it is clearly not meant as a quality guarantee, it allows BTC Markets to keep "clean hands" and maintain transparency with our clients.
As we are an exchange (not a broker) we build the token infrastructure ourselves. Meaning spinning up the specific blockchain, wallet etc. Invariably, due to the newness of the technology the documentation on this part can be sparse. This historically has meant new chains can be time-consuming to incorporate (but still worthwhile - it is our job after all.)
Naturally, we focus on issues around custody and security. That is partially offset by our partnering with @BitGo. This should enable us to quickly list shared projects which is an area we can improve on.
The decision to list @SuiNetwork is to try something a bit different for BTC Markets. It is a brand new project and in recent years, we had adopted more of a wait and see approach. This time we wanted to offer a project in its earlier stages, to give clients a greater range of fresh listings.
The feedback we got from our clients on the #Sui listing is useful. We’re trying something new and want to hear from you. I value the comments about greater community outreach & involvement.
A first step is to give you this greater transparency about how we make these decisions. How we reshape that process to include more of your involvement will be next.
The thesis only strengthened as we moved from March to April (will publish the indicator set I used), but as the markets panicked and X was full of end-of-the-world commentary ---
"The stage is set for a new all-time high in Bitcoin and Top 200 aggregate market cap by May."
My column. Fire at will, see if I care.
It's time to shut down greyhound racing, for good.
It's being banned all over the world, but in NSW they are proppping it up!
Why are the politicians so weak-kneed on it?
#NSWpol
https://t.co/5CAIvY76IG
History is being made as the #BTC ETF, $IBIT, surpasses US$50b in AUM in just 228 days.
This is more than 5x faster than any other ETF in history, including the gold ETF ($GLD), which took approx 5.5 years to achieve the same feat.
https://t.co/GPe3kYchHx
In Caroline Bowler's latest Livewire Markets article, she discusses Bitcoin’s historic achievement of surpassing the US$100,000 mark. Marking a significant milestone for the world’s largest crypto. @carobowler
Read more: https://t.co/HAnabUIZRn
#bitcoin
“Bitcoin’s rally toward the $US100,000 milestone today highlights a possible shift in market dynamics, with capital rotating from assets like XRP and TRX – both seeing double-digit declines – back into bitcoin,” Ms Bowler said.
Read more: https://t.co/YycBTaDfut
@carobowler
Bitcoin hits $100,000! A historic milestone for the world’s largest cryptocurrency.
Where do you think it goes next?
Comment below!
https://t.co/Eosg9fG9mo
Great quote from Jim Chalmers, Australian Treasurer “We know that blockchain and digital assets present big opportunities for our economy, our financial sector and innovation.”
This openness is how Australia will regain its competitive edge.
@BTCMarkets@Treasury_AU
Uptick in the crypto market means uptick in scams -- reminder that @Ripple will never ask you to send XRP, and neither will Brad, David, Monica, Stu, or anyone else from Ripple. Stay vigilant!
Learn how to protect yourself and report scams: https://t.co/gG4D3trnOu