Fintech and Cryptocurrency Markets are in the Spotlight

PR Newswire

NEW YORK, October 31, 2017 /PRNewswire/ --

According to KPMG's Q2 2017 Pulse of Fintech report, the total global fintech investments more than doubled quarter over quarter in Q2'17 to US $8.4 billion, and up from US$3.6 billion in Q1'17. Global M&A investment helped drive the fintech market rebound with US$5.9 billion in deal value for M&A for the quarter. A major component of the fintech market currently is cryptocurrencies, especially with bitcoin leading the way. The price of bitcoin hit another new all-time high. According to data from CoinDesk, the cryptocurrency price rose past $6,300 to a high of $6,306.58 on Sunday and retreated slightly on Monday to $6090.76. The new all-time high was reached just eight days after its previous high of $6,166 was set. The world's largest digital currency has gained over 500 percent this year and bringing its market cap above 100 billion. Cryptocurrency derivatives exchange trader Joseph Lee told CoinDesk, "We're seeing confidence in bitcoin growing steadily…It's great for adoption." Chineseinvestors.com, Inc. (OTC: CIIX), Gain Capital Holdings Inc (NYSE: GCAP), Riot Blockchain Inc (NASDAQ: RIOT), Xunlei Ltd (NASDAQ: XNET), MGT Capital Investments Inc. (OTC: MGTI).

The growing trading volume is one of the factors that attributed to surge in the bitcoin price. According to data from Coinmarketcap, total trading volume for all the cryptocurrencies in the past 24 hours reached over 4.6 billion. While Bitcoin accounted for nearly 50 percent of the trading. Increasing interest in the cryptocurrency could be another factor that drive the growth of the market. According to CoinDesk, "Data from Google Trends indicates searches for "bitcoin" and "bitcoin price" are also nearing all-time highs, suggesting this exposure is perhaps translating into new awareness and investment in the protocol."

Chineseinvestors.com, Inc. (OTCQB: CIIX) announced on October 11th that, "the Company has launched the first cryptocurrency daily video newscast in the Chinese language, entitled Bitcoin Multimillionaire, broadcast from the NYSE. The video newscast covers timely information and analysis regarding all aspects of the emerging digital currency world, including specific cryptocurrencies, such as Bitcoin and Ethereum, industry trends, price movement, blockchain technology, and sector-related stocks and ETFs listed on major exchanges and the OTC market."

"Many Chinese investors are seeking information and education related to the cryptocurrency sector," says Warren Wang, Founder and CEO of CIIX. "Moreover, in response to the growing popularity of cryptocurrencies and ICOs, governments around the world, including but not limited to, the United States, China, Japan, South Korea and Switzerland are weighing in and/or enacting regulatory policies regarding cryptocurrencies and ICOs. In the United States, Goldman Sachs Group Inc. recently announced that it is considering a new trading operation dedicated to bitcoin and other digital currencies."

In addition, CIIX also has plans to launch a new cryptocurrency website under the domain name newcoin168.com to serve Chinese cryptocurrency investors. The site, expected to launch next month, will endeavor to be a leader in digital media and cryptocurrency and blockchain technology education providing straightforward explanations of cryptocurrency basics, trading guidelines, real-time market commentary and analysis regarding currency mining, blockchain technology, industry hotspots, sector-related stock trends and ETFs, and other strategies and opportunities to capitalize on the bitcoin market.

"After the recent launch of our Bitcoin Multimillionaire daily video newscast, the Company has decided to further expand its presence in the digital currency sector," says Wang. "Similar to U.S. stocks, as the price of digital currency, such as Bitcoin, continues to increase, Chinese people all over the world are taking notice and seeking access to timely information regarding market trends, news, and analysis. We look forward to being the premier source for this information."

Gain Capital Holdings Inc (NYSE: GCAP) provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. "Stable market conditions and improved customer engagement resulted in consistent operating metrics during the third quarter, including average daily retail trading volume of approximately $9.6 billion for September," remarked Glenn Stevens, Chief Executive Officer. "As the result of low volatility in the third quarter, retail revenue capture was approximately 10% lower than the trailing twelve month level. It is worth noting that, notwithstanding quarterly fluctuations, trailing twelve month retail revenue capture has remained stable throughout the year. As we move into the fourth quarter of 2017, we remain focused on executing on our organic growth initiatives that aim to increase our market share and trading volumes, attract new customers and increase revenue per active account with existing customers."

Riot Blockchain Inc (NASDAQ: RIOT) announced recently that it has entered into a definitive purchase agreement to acquire a 52% ownership interest in Tess Inc. ("TESS"). TESS, based in Toronto, Ontario, has a team of seven engaged in developing a blockchain-based payment service for wholesale telecom carriers. The purchase reflects Riot Blockchain's efforts to own or control companies who are contributing to the development of the blockchain ecosystem. The transaction is anticipated to close on or before October 19, 2017.

Xunlei Ltd (NASDAQ: XNET) is a leading cloud-based acceleration technology company in China. The company recently announced its unaudited financial results for the second quarter ended June 30, 2017. Mr. Lei Chen, Chief Executive Officer of Xunlei, commented: "We are pleased to deliver solid progress in the second quarter, particularly in cloud computing and mobile advertising. In addition, our receipt of a value added telecommunications services license additionally covering CDN services issued by the Ministry of Industry and Information Technology of the People's Republic of China is a further testimony of the potential viability of our technology and regulatory support. We are committed to continue our endeavor in cloud computing technology as a cornerstone strategy to grow our business."

MGT Capital Investments Inc. (OTCQB: MGTI) announced in a recent press release that following shipment and setup, and in conjunction with the Company's current rigs in operation and on firm order, MGT's Bitcoin mining operations are expected to generate over $2.0 million in monthly revenue, assuming recent pricing and difficulty rates. Factoring in management fees, profit sharing, electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at $1.1 million per month. The Company expects all rigs announced to date to be operating during the first quarter of 2018.

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