Financial executives and blockchain experts will converge in New York this week to discuss the future of financial technology, while FTEC, which is developing a crypto-trading ecosystem, will launch a token sale. Last week saw bitcoin’s price seesaw and the EOS blockchain officially go live.
This Week’s Events
Blockchain in Focus at Future of Fintech Conference

Blockchain will be among the key topics at the CBInsights Future of Fintech conference at Lincoln Center in New York. The show’s theme is the disruption of financial services.

Scheduled speakers include blockchain innovators, financial executives and regulators. On the roster are Joe Lubin, co-founder of Ethereum and founder of ConsenSys; Brad Garlinghouse, the CEO of Ripple; Adena Friedman, the CEO of Nasdaq; and Mick Mulvaney, acting director of the Consumer Financial Protection Bureau.

The conference is scheduled to kick off Tuesday evening and last through Wednesday afternoon. Read more here.

FTEC to Launch Coin for Algorithmic Trading Platform

FTEC, or First Trading Ecosystem, plans to launch its token sale Wednesday.

The company describes its platform as “an ecosystem of intelligent services and neural networks for conducting effective trading activities on cryptocurrency markets.” It says this ecosystem will offer all the tools necessary for traders at any level of knowledge and experience.

The team plans to use proceeds of the sale to develop the platform, according to FTEC’s white paper. The token sale will last 23 days until July 18. Read more here.

Top News from Last Week

Rocky Week for Bitcoin

Bitcoin (BTC) has recovered some of the steep losses it suffered early last week. The world’s No. 1 cryptocurrency by market cap plummeted early in the week following news a South Korean exchange had been hacked.

Bitcoin came under more pressure Wednesday after news broke that a Texas university researcher published a paper saying a large portion of bitcoin’s enormous rally last year appeared to be the result of manipulation.

The cryptocurrency hit a low of $6,272.22 on Wednesday, its lowest price in 2018, according to ThirtyK data provided by CoinMarketCap. It was down 4.5 percent for the week at that point. Other cryptocurrencies sold off over the week as well, including ether (ETH), which enjoyed a brief rally after William Hinman, director of the SEC’s division of corporation finance, said ether isn’t a security. Nevertheless, ether declined in value after that short rally and lost about 6.6 percent for the week.

EOS Blockchain Officially Goes Live After Votes Are Tallied

The votes are in, and the EOS (EOS) blockchain officially went live last week.

The blockchain received more than the 150 million votes needed to determine the individuals or entities that will maintain the distributed network. CoinDesk reported Thursday the vote ended a multiweek process that had been among the most complex seen in the cryptocurrency world. Read more here.

Michelle Rama-Poccia
Michelle Rama-Poccia has written financial news since 2001, covering everything from Latin American debt capital markets to the U.S. credit crisis. She began her career on the enterprise desk at Dow Jones Newswires, and was an editor and producer for Thomson Reuters before her stint as Fast Money, Strategy Session and Options Action producer at CNBC. Most recently, Michelle has worked as a contributing editor for TheStreet.com.