Daily News Digest Featured News

Tuesday May 26 2018, Daily News Digest

BTC USD
Source: MarketWatch

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United States

International

European Union

United Kingdom

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News Summary

United States

Coinbase hires Bully Pulpit Interactive for U.S. support (PR Week), Rated: AAA

Coinbase has hired Bully Pulpit Interactive as its U.S. partner while the cryptocurrency company builds out its comms department. Grayling was the incumbent on the account.

Coinbase hired BPI last month, said Suthers, who joined the company from Grayling, where he oversaw the Coinbase account.

Coinbase’s Decentralized Exchange Acquisition Is a Shortcut to List ERC20 Tokens (The Merkle), Rated: A

The acquisition and integration of Paradex into the main infrastructure of GDAX and rebranding the exchange to Coinbase Pro can be considered a shortcut which Coinbase took to list ERC20 tokens ahead of other trading platforms in the US. Legally, local exchanges are not allowed to list tokens that have conducted ICOs, because if the tokens turn out to be categorized as securities, the exchanges face conflict with the SEC and other financial authorities.

“Switching to the name Coinbase Pro is a recognition that the individual active trader requires a product completely dedicated to their specific needs.”

Leading cryptocurrency exchange to open Portland office (Biz Journals), Rated: B

The San Francisco-based company is creating a “Center of Excellence in Portland.”

Goldman Sachs Introduces Their Own Cryptocurrency (The Market Mogul), Rated: AAA

In an attempt to “institutionalise” cryptocurrencies, Goldman Sachs backed Circle just announced that through CENTRE (open source framework), they will issue their own Circle USDC (US dollar coin) which is going to be pegged to the US dollar one-to-one and will be made available to the general public for everyday buying of goods and services. In other words, leave real dollars at home or in the bank and go shopping with your Circle coins securely stored in your crypto wallet.

Bitcoin extends slump, on track for third consecutive weekly loss (MarketWatch), Rated: AAA

Most major digital coins traded lower Friday in New York, extending what has been a withering stretch that has erased some $60 billion off total market value for cryptocurrencies since Monday morning.

Bitcoin, the worlds biggest cryptocurrency, is trading below $8,000 Friday, as the regulatory uncertainty is keeping buyers on the sidelines. A single bitcoinBTCUSD, +2.20% last traded at $7,485.63, down 0.9% since 5 p.m. Thursday, Eastern U.S. levels on the Kraken cryptocurrency exchange.

BTC USD
Source: MarketWatch

Bitcoin’s Fate? This Cryptoasset Manager Sees Two Possible Outcomes (Fortune), Rated: A

Bitcoin’s future price has been the subject of enormous speculation everywhere from cocktail parties to the floor of the New York Stock Exchange. Some mega-bulls, like venture capitalist Tim Draper, predict the value will rocket to $250,000 in as little as four years. Skeptics, like Joe Davis, strategy chief at Vanguard Investments, say there’s a “decent probability” it goes to zero.

Is Bitcoin’s fate really all or nothing—go big or go broke?

Michael Sonnenshein, managing director of Grayscale Investments, one of the world’s biggest cryptocurrency asset managers and a sponsor of eight digital currency trusts for investors, thinks so.

Bitcoin Price Charts Reveal Trend And Support Levels (Forbes), Rated: AAA

On the daily chart, the New York Stock Exchange Bitcoin Index would have to take out that 18500 high before it could be said that a new uptrend is unfolding.

You can see how the price can’t quite make it back above the Ichimoku cloud — that’s the technical analysis indicator derived from a comparison of the 9-day highs and lows and the 26-day highs and lows.  It’s one way chart readers analyze moving average dynamics. Above is thought to indicate bullishness, below bearishness.

bitcoin
Source: stockcharts.com

Bitcoin breaks 10 month trend line support at 7650 (FXStreet), Rated: A

Bitcoin breaks 10 month trend line support at 7650. If we cannot hold above 7500 then bulls have lost the battle & the outlook turns significantly more negative. On a break below 7200 see no reason for us not to retest the April low at 6500/6450 but I doubt it will hold this time.

bitcoin
Source: FXStreet

Batched Bitcoin Transactions Finally on the Rise (CCN), Rated: A

When bitcoin transaction fees hit record costs in mid-to late-2017, a race for solutions was in force. The most workable one came in the form of batching bitcoin transactions, and batching’s popularity has increased in the background of a general bear market that started in early 2018.

The Eureka Moment That Made Bitcoin Possible (WSJ), Rated: AAA

But bitcoin didn’t just materialize from thin air. The encryption technology that makes it possible—known as blockchain—was developed almost three decades ago, by scientists whose role in the story has not received much attention. Their aim was more idealistic than revolutionizing the world of money: They wanted to find a way to secure the past and safeguard our knowledge of it.

In 1990, the physicist Scott Stornetta had a eureka moment while getting ice cream with his family at a Friendly’s restaurant in Morristown, N.J. He and his cryptographer colleague, Stuart Haber, had been thinking about the proliferation of digital files that accompanied the rise of personal computing and the ease with which files could be altered. They wondered how we might know for certain what was true about the past. What would prevent tampering with the historical record—and would it be possible to protect such information for future generations?

Bitcoin backlash as ‘miners’ suck up electricity, stress power grids in Central Washington (The Seattle Times), Rated: A

Public hearings for rural electric utilities are rarely sellout events. But the crowd that showed up in Wenatchee two weeks ago for a hearing about Bitcoin mining in Chelan County was so large that utility staff had to open a second room with a video feed for the overflow.

Analyst Says Bitcoin May Drop to $ 5,500 Before New Upside In Q3/Q4 2018 (NewsBTC), Rated: A

Analyst Willy Woo said the virtual currency may only find its upside in Q3/Q4 2018. Until then, bulls may find bid opportunities at prices as low as $5,500.

Woo expects the market to give in to bears for a downswing towards $5500-$5700.

BTC
Source: https://twitter.com/woonomic/status/1000223528803762176/photo/1

Cryptocurrency Market Continues to Fall as Bitcoin Price Seeks Support at $ 6,700 (CCN), Rated: A

On previous reports, CCN emphasized that the price of bitcoin will likely fall to the higher end of the $6,000 region in the short-term. Over the past 24 hours, the bitcoin price has dropped by 2.5 percent, from $7,580 to $7,350, dipping below the $7,300 mark at one point.

Following the five-month price trend of bitcoin, it is highly likely that BTC rebounds from the $6,800 mark in the short-term, initiating a strong rally in the mid to long-term.

bitcoin
Source: CCN

Bitcoin still a buy despite recent losses says blockchain venture capitalist. Here’s why. (CNBC), Rated: A

Bitcoin is still a buy despite its continued losses, blockchain venture capitalist Spencer Bogart told CNBC.

The digital currency’s increased number of use cases is proof that the popular form of money is being institutionalized.

2 Moving Averages on 2 Different Time-Frames for Litecoin (FXLeaders), Rated: AAA

Litecoin has had a bad month in May. It climbed climbed $35 in the first week, but it reversed down and lost $70 from top to bottom.

The fundamentals have been against cryptocurrencies because different governments are cracking down on dodgy cryptos. But, there are a few technical things that indicate a possible trend reversal for Litecoin and other major cryptos.

Litecoin
Source: FXLeaders

The lows price this year was $105.45 back in February during the major pullback, according to my cryptocurrency broker. The second low was at 108.50 at the end of March. This time, the low was 113.50 on Thursday this week.

Bittrex Review: A Secure and Efficient Crypto Exchange (Cryptocurrency News), Rated: A

Bittrex is available around the world. However, it’s important to note that every country requires different documents. Further, Bittrex has restricted some of its services to various states. A full list can be found here. 

Bittrex allows the purchasing and selling of Bitcoin, Bitcoin Cash, Ethereum, Dash, NEO, Zcash, OmiseGo, Siacoin, and Nexium. There are also more than 250 altcoins that can be traded against BTC and ETH.

Currently, there is a 0.25% commission implemented on all trades.

Bodhi Kicks Off Multi-chain Expansion with Ethereum (BusinessWire), Rated: A

Following on the heels of a successful launch on the Qtum mainnet (https://www.businesswire.com/news/home/20180423005472/en/Decentralized-Prediction-Market-Bodhi-Launch-Qtum-Mainnet), the Bodhi Foundation announced today its plans to expand the Bodhi prediction market DApp (Decentralized Application) to support other public blockchain platforms.

Customers Can Earn Coin Rewards as Dash Partners with Rewards.Com (Smartereum), Rated: A

Dash – one of the most vital currencies in the crypto market – keeps expanding. This time around, the digital currency has been added to Rewards.com, rewarding users for normal retail purchases in Dash. This way, users will be able to make purchases on the platform of Rewards.com with this digital currency.

Family Offices Consider Crypto Investments, but Gingerly (ThirtyK), Rated: A

Family offices, which manage money and other affairs for the wealthiest clans, are starting to focus onnascent cryptocurrency and blockchain funds and companies, but they’re doing so cautiously.

Only about 11 percent of those surveyed at this winter’s Context Summits said they expected to put money into crypto funds this year. At least one-quarter of those respondents were family offices.

What Cryptocurrency Investors Can Learn From Old-School Investors (SludgeFeed), Rated: A

A culture war is quietly raging between old-school investors and cryptocurrency holders. Most traditional stock investors don’t seem to like the idea of cryptocurrency and fear its volatility, while crypto investors hate the cumbersome and outdated restrictions and regulations in typical equity markets that give institutions major advantages.

PayPal Guarantees to Support Crypto as Soon As it Stabilizes (The Currency Analytics), Rated: A

Rainey said in his meeting that at this moment, they don’t see a great deal of enthusiasm from their shippers or merchants. Be that as it may, if this is something that settles later on and this tends to be better currency, then they will surely give their support to that.

Small Lenders Reap Big from Wall Street’s Decision to Shun Cryptocurrencies (BTCManager), Rated: A

Previously, the bank Silvergate focused on serving local businesses within San Diego, California. However, the bank attributed the growth that saw the value of its assets rise from $978 million to $1.9 billion to crypto-related businesses last year.

Another small lender, Metropolitan Bank tripled its fee income in 2017. Other banks that have opened doors to cryptocurrency customers include Cross River Bank based in Fort Lee, New Jersey and Silicon Valley Bank in Santa Clara, California.

Toshi For Chrome To Be Launched Soon, To Be A Fully Open Source (Bitzrazzi), Rated: A

In a tweet, Toshi gave a sneak preview of the upcoming Toshi wallet/web 3 extension for chrome. The firm says the new feature is written in TypeScript, uses cipher engine, and will be fully open source when it goes live to the general public.

Toshi users will now be able to access the Toshi wallet using the Google chrome browser. It will be easier to access various Ethereum based coins and tokens.

A 17th Century Mansion Is Being Auctioned Off on a Blockchain (CoinDesk), Rated: A

Announced Friday, Beverly Hills real estate brokerage Hilton & Hyland is partnering with blockchain startup Propy to auction the Palazzetto inside the Palazzo Albertoni Spinola, a mansion built between 1580 and 1616.

The Unesco heritage site was designed by architect Giacomo Della Porta in the early 1600s, and is currently valued at $42 million. Interested parties can bid on it in either fiat or cryptocurrencies until June 28, said Propy CEO Natalia Karayaneva.

What You Can Expect If You Are Willing To Accept Cryptocurrency For Selling Your House (Forbes), Rated: A

After a long debate, my wife and I decided we were going to put our house on the market, but I had one condition. The condition was that we would accept cryptocurrency, such as Bitcoin, as a source of payment.  My wife was somewhat hesitant at first, largely due to the volatility associated with cryptocurrencies, but ended up agreeing.

Before listing our house, we met with several real estate brokers and mentioned our openness to accepting cryptocurrencies for the sale of our house. Every broker had the same question – why?

TRUSTTOKEN’S RAFAEL COSMAN ON TRUEUSD, FIAT-PEGGED STABLECOINS, THE BINANCE PUMP (Bitcoinist), Rated: A

Stablecoins — particularly those backed by fiat currencies like the US dollar — are a hot topic in today’s cryptocurrency industry. Bitcoinistrecently caught up with Rafael Cosman, CTO and Co-Founder of TrustToken, to talk about the company’s new USD-pegged stablecoin, it’s relationship to other stablecoins like Tether, and the price spike following TrueUSD’s listing on Binance. Here’s what he had to say. 

Bitcoinist: Do you plan on tokenizing other fiat currencies?

RC: We’re preparing for even more investors to be able to purchase, redeem, and trade TrueUSD. Given the positive reception from the market so far, we’re also exploring the tokenization of currencies such as TrueEuro or TrueYen.

CHEAPAIR DITCHES BITPAY FOR OPEN-SOURCE BITCOIN PAYMENTS (Bitcoinist), Rated: A

Travel and accommodation website CheapAir.com has appeared to choose self-hosted payment processor BTCPay for its Bitcoin payments, shunning industry stalwart BitPay.

AMERICAN EXPRESS COULD USE BLOCKCHAIN TO PROTECT CLIENTS’ IDENTITIES AND COMBAT FRAUD (Bitcoinist), Rated: B

US-based financial corporation American Express is researching how blockchain technology can provide solutions to issues such as fraud and identity protection.

Podcast Platform Castbox Launches Blockchain Project to Reward Creators (Bitcoin Magazine), Rated: B

Award-winning global podcast platform Castbox has announced the release of ContentBox, a blockchain-based infrastructure for decentralized digital content. The project is backed by Bo Shen — the founder of Fenbushi Capital and an early adopter of Ethereum — who will serve as both a cornerstone investor and strategic advisor to the team.

International

Litecoin surpasses Ethereum [ETH]? LTC finds security in increased hashpower (AMBCrypto), Rated: AAA

According to recent developments, Ethereum [ETH]’s total hashrate for its blockchain has been surpassed by Litecoin [LTC]. This, for all purposes, signifies that Litecoin’s blockchain is more secure than Ethereum’s.

Litecoin surpassed Ethereum’s hashrate on 5th of May, with Ethereum’s hashrate being 270 TeraHash/s and Litecoin’s at 277 TeraHash/s. Currently, Litecoin is hovering around 340 TeraHash/s while Ethereum is staying constant around the 270 TH/s mark.

Litecoin Ethereum hashrate
Source: AMBCrypto

3 Cryptos Commanding 60% Global Trading Volume (Bitrazzi), Rated: AAA

While it may surprise many, neither Ripple (XRP) nor Bitcoin Cash (BCH) is among the top 3 currencies by trading volume currency in crypto space. These cryptocurrencies, even though influential from a market capitalization perspective, are not among the top traded cryptos on the exchanges currently (as of May 25, 8:15 UTC). They account for just 2.18% and 3.86% of global crypto trading volume, respectively.

There are 3 other cryptocurrencies that are dominating crypto trade currently – these are Bitcoin (BTC), Tether (USDT), and Ethereum (ETH). These 3 cryptocurrencies together account for 60% of global crypto trade presently, according to CoinMarketCap data.

crypto trading

List of the Most Successful Initial Coin Offering Token Launches in 2018 (Bitcoin Exchange Guide), Rated: AAA

During 2017, Initial Coin Offerings (ICOs) had a noticeable impact in the crypto market. An important number of them were able to raise millions of dollars and allow companies, enterprises and projects to gather funds. But what about 2018? Is the ICO market expanding or is just stagnant?

ICOs 2018
Source: Bitcoin Exchange Guide

As of today, and according to CoinSchedule, ICOs raised $8.66 billion dollars. And the amount of projects funded was 335, compared to 210 in 2017.

Top ICOs
Source: Bitcoin Exchange Guide

Involving women in cryptocurrency will benefit the industry (Bankless Times), Rated: A

Finance is growing. Cryptocurrency is knocking on the door of conventional banking and threatening to upend the norm. Banks are adapting the services they offer to keep up with the times, shifting their gaze more and more to the digital audience. Regardless of who wins out, crossover careers like those in financial analysis or investment counselling are projected to grow 12 percent by 2024.

One study estimates that 95 percent of the searches done on “bitcoin” originate from male users, and while one industry expert argues it’s probably more like 80 percent, that’s still decidedly imbalanced.

187 THINGS THE BLOCKCHAIN IS SUPPOSED TO FIX (Wired), Rated: A

But in this moment, few business trends can compete with the magic of blockchain technology. Blockchains, which use advanced cryptography to store information across networks of computers, could eliminate the need for trusted third parties, like banks, in transactions, legal agreements, and other contracts. The most ardent blockchain-heads believe it has the power to reshape the global financial system, and possibly even the internet as we know it.

Cryptocurrencies like Bitcoin Consume Significantly Less Resources than Fiat Money (CCN), Rated: A

Fiat requires commercial banks, central banks, ATMs, armored cars, hundreds of thousands of employees, among other things to work. The central bank, in this case the FED, does not magically distribute the US dollar to every person in the country at their doorstep. The FED distributes its US dollar to banks and its friends, who then distribute money with the hopes of trickling down the US dollar to the bottom of the economy.

Cash requires a truly massive infrastructure to function. In the US alone, there are more than 6,000 banks that process cash transactions.

Top 7 Cryptocurrencies That Increased In Value During 2018 (Use the Bitcoin), Rated: A

Aeternity (AE)

At the beginning of the year this cryptocurrency was traded around $1.33 and it had a market capitalization of $309 million dollars. At the beginning of May, Aeon reached its all time high after being traded around $5.57 and with a market capitalization of $1.29 billion dollars.

Binance Coin (BNB)

The first days of January, it was traded around $8.29 dollars, and during the last month it has been traded between $12 and $15 dollars. This is a growth between 44% and 80%, which is quite impressive considering that other virtual currencies lost an important part of their value in 2018.

0x (ZRX)

Not, each 0x token can be bought for $1.26 dollars, which is almost a 26% compared to the beginning of the year.

Bytecoin (BCN)

In January, this virtual currency was traded near $0.0057 dollars. At the beginning of May, it registered a price of $0.018 (its all time high), and now is being traded around $0.006 dollars.

EOS (EOS)

It reached an all time high in May ($22 dollars per coin), and now is being traded around $12 dollars. That represents an increase of 41%

Tron (TRX)

Now is being traded near $0.07 dollars. Compared to the beginning of the year, that represents an increase of 62%.

VeChain (VEN)

In January, this cryptocurrency was traded around $2.28, it reached an all time high in February, near $9.15 dollars per coin and now it is being exchanged over $3.58 dollars. That represents an increase of 57%.

Investors who hate Ripple are breaking the main rule of investing: removing emotion (Captain Altcoin), Rated: A

The hardcore crypto purists dislike Ripple because they do business with the big banks and because Ripple is not too different from what we already have today. Ripple xCurrent system is a product used for bank to bank transfers, its an IOU where Ripple is the middleman and it is centralized.

However, the truth is, banks have been here for a long time and aren’t going away anytime soon.

Bitcoin Cash and EOS added to deVere Crypto as 35% of HNWIs embrace cryptocurrencies (Fintech Finance), Rated: A

One of the world’s largest independent financial services organisations has added Bitcoin Cash and EOS to its cryptocurrency exchange app, as a new global survey reveals that 35 per cent of wealthy investors will have exposure to cryptocurrencies by the end of 2018.

Users of deVere Crypto, the pioneering app by deVere Group, can now also buy, sell, store, and exchange Bitcoin Cash (BCH) and EOS (EOS), alongside Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Stellar Lumens (XLM).

World’s Largest Diamond Retailer Joins De Beers Blockchain Project (CCN), Rated: B

Signet Jewelers, the world’s largest retailer of diamond jewelry, has joined Tracr, the diamond blockchain program being developed by South African gem juggernaut De Beers Group.

European Union

Ethereum Classic’s Proof-of-Work Would Cost ETC $ 1Billion for $ 55Million (CryptoRecorder), Rated: AAA

Moreover, Abboud was able to calculate the loss Ethereum Classic would go through in case it would become a victim of 51% Attack.

The result showed that the cost of the attack would be “only” around 55 million dollars, while the cost of the attack could go up to 80 million dollars. However, the profit that would be collected by the attackers in this case scenario would be around 1 billion dollars, making up for a pretty flattering profit.

German Stock Exchange Eyes Bitcoin and Cryptocurrencies (Bitcoin Magazine), Rated: A

Frankfurt Stock Exchange parent company, Deutsche Boerse AG, appears to have begun work on technology that will allow them to offer their clients bitcoin and cryptocurrency-related products.

Casper Testnet Arrives on Parity Ethereum Client (Bitsonline), Rated: A

Ethereum’s march toward scaling continues on, with the latest development being the community’s ability to now use a simple Hybrid Casper FFG testnet on the Parity Ethereum client. There’s still much to do before Casper is finalized, but the new testnet is unquestionably an important step forward.

Malta creates a regulatory framework for cryptocurrencies (Block-chain.com), Rated: AAA

On May 22nd the government of Malta published three new bills and therefore created a regulatory framework for crypto exchanges. The new bills are: the Virtual Financial Assets Bill, the Malta Digital Innovation Bill and the Innovative Technology Arrangements and Services Bill.

The first one, containing 26 stipulations, concerns initial coin offerings and states that all fundraising campaigns are invalid unless the company launching them has published a white paper, an informational document that explains a project’s business plan and technological base, and lays out the requirements for it.

The second one concerns the establishment of an industry-specific governing body and says that the interests of the blockchain industry will be promoted to the government.

How To Apply For Binance Token Listing Inclusion (Bitcoin Exchange Guide), Rated: A

Binance, one of the most important cryptocurrency exchanges in the market, offers the possibilities to ICOs to list their projects in their platform allowing users to purchase their tokens before they are listed on the Binance exchange.

You can successfully hack a $ 2B cryptocurrency network with only $ 1.5M (The Next Web), Rated: A

Husam Abboud, a cryptocurrency researcher at FECAP University in Brazil, has demonstrated that it would take as little as $1.5 million to execute a network attack on Ethereum Classic (ETC) — with a market cap of over $2 billion — and still be in profit. If you have $55 million, you could even bankrupt the currency, making off with $1 billion in profit.

The Effect of GDPR on Blockchain and Cryptocurrency Services (BlockExplorer), Rated: A

A key objective of the GDPR empowers individuals (or data subjects) with various rights.  Some of these rights align well with blockchain technology. For example, the GDPR includes a right to information, giving individuals the right to request how their personal data is being shared and processed.  The right to access is also a step towards greater transparency, as it allows individuals the opportunity to view their own personal data that has been collected by an organization or service.  IBM has released a white paper outlining some key ways that blockchain technology can be used to support the goals of GDPR and enhance compliance.

GDPR and Cryptocurrency Services

If you use cryptocurrency services, including exchanges, wallets, and peer-to-peer marketplaces, you probably have received emails over the past month advising you of revisions to privacy policies and terms of service.

Are the Rothschilds working on own cryptocurrency ‘IMMO’? (EconoTimes), Rated: A

A number of reports are currently floating in the media about the Rothschild’s own cryptocurrency project – IMMO.

CoinSpeaker speculates that IMMO will be “stablecoin” with its value pegged to the price of gold. The cryptocurrency will be “legally recognized in one of the sovereign countries controlled by the Rothschilds.” The Rothschilds could develop a private blockchain, allowing them to “safely conduct internal transfers thus leaving their descendants the accumulated amount of IMMO tokens.”

Cryptocurrency Trading App Taylor Looses US$ 1.5M In Hack; Considers “Survival Fund Token Sale” (Coin Journal), Rated: B

Taylor, a cryptocurrency startup developing a trading app, was hacked out of more than 2,500 ETH, or approximately US$1.5 million, in addition to 7% of the total supply of its own TAY token, the company said on May 22.

Krypton Capital Joins Blockchain Investors Consortium (cryptovest), Rated: B

Krypton Capital and its founder and CEO Ilan Tzorya are pleased to announce the company has become a member of the Blockchain Investors Consortium (BIC) with a mission to facilitate the development of the initial coin offering (ICO) market and help identify safe and mutually beneficial investment opportunities.

United Kingdom

UK’s FCA Investigates 24 Cryptocurrency Firms As Bitcoin Price Dips (Coin Journal), Rated: AAA

The U.K.’s Financial Conduct Authority (FCA) has opened up 24 investigations into cryptocurrency businesses, a Freedom of Information request has revealed.

In a report from the Financial Times, the U.K.’s top financial watchdog also confirmed that it had opened seven whistleblower reports relating to digital currency companies so far this year.

Man accidentally threw away $ 79 million worth of Bitcoin (News.com.au), Rated: A

Losing passwords is the kind of nightmare that haunts bitcoin investors. In fact, there are an estimated three million bitcoins — totalling nearly $33 billion — lost because the retrieval codes have gone missing or the currency owners died without passing the codes onto their next of kin.

Just ask James Howells — who lost a hard drive with the key to more than $79 million in bitcoin.

“I mined more than 7500 coins over one week’s time in 2009; there were just six of us doing it at the time, and it was like the early days of a gold rush,” said the IT worker turned crypto investor, 32, who lives in Newport, Wales.

Half a million pounds worth of Bitcoin seized from prolific hacker (Met.police.uk), Rated: A

In the first case of its kind for the Met, cyber crime detectives have seized approximately half a million pounds worth of Bitcoin from a prolific hacker.

Grant West was responsible for attacks on more than 100 companies worldwide. He predominately used ‘phishing’ email scams to obtain the financial data of tens of thousands of customers. Operating under the pseudonym “Courvoisier”, West would then sell this personal data in different market places on the dark web.

West was sentenced on Friday, 25 May at Southwark Crown Court to ten years and eight months’ imprisonment.

Author Niall Ferguson: I Wish I Had a Bitcoin for Every ‘Phony’ ICO White Paper Received (NewsBTC), Rated: B

Ferguson’s comments were said at a seminar recently held by the Bank of England, where he shared his support for Bitcoin, but spoke out against the associated, often unregulated fundraising method of ICOs.

“I wish I had a Bitcoin for every phony white paper I’ve been shown the last six months, by people trying to raise money before the SEC clamps down,” Ferguson, a senior fellow of the Hoover Institution at Stanford University, said according to Quartz. “When there’s no regulation, then the rogues are very quickly on the scene.”

China

Tencent to Use the Blockchain to Derail China’s Counterfeit Invoice Industry (NewsBTC), Rated: AAA

Faked official invoices are big business in China. One person who creates these legal proof of payments — “fapiao” in Chinese – calls herself Mrs. Wang.

In attempts to fightback against these counterfeit fapiaos, Chinese internet giant Tencent Holdings has teamed up with the Shenzhen branch of the State Administration of Taxation to develop a blockchain-based digital invoice solution, which is designed to protect the authenticity of invoices by tracking the process of issuance and circulation.

BTCC to Launch Upgraded Exchange Platform Next Month (CoinFrenzy), Rated: A

BTCC, a Hong Kong crypto company, announced on social media that it is going to launch its new, upgraded exchange platform next month.

The upgraded platform will provide better liquidity, faster deposits & withdrawals, with no trading fees for the first 3 months. With the launch of the new exchange platform, users will be able to trade USD, BCH, BTC, ETH, and LTC, with some more cryptocurrencies to be added later.

Chinese Blockchain Event Draws Backlash Over Chairman Mao Stunt (CoinDesk), Rated: B

Chinese cryptocurrency media companies are boycotting an ongoing blockchain conference after the organizer used a Chairman Mao impersonator to promote the event.

Australia

SOPAY LAUNCHES CROWDFUNDING ON THE LEEKICO PLATFORM (Bitcoinist), Rated: B

SoPay, a project aiming to develop a fast, private and easy-to-use digital currency payment platform, announced its much anticipated token sale will start on May 29, 2018, and end on June 3, 2018. The sale is managed on the LEEKICO platform and expects to collect a total of ETH 10,000. More information about the sale is available on the LEEKICO platform.

APAC

One of the Largest Banks in the Philippines is Implementing Ethereum With ConsenSys (NewsBTC), Rated: AAA

UnionBank, one of the biggest banks in the Philippines, is working with US-based blockchain software technology company ConsenSys founded by Ethereum co-founder Joseph Lubin to assist local financial institutions in integrating Ethereum and blockchain-based platforms.

Government And Academic Support Are Giving Singapore An Edge In The Blockchain Race (Forbes), Rated: AAA

Thanks to its business and tech-friendly policies, Singapore ranks among the top cities for startups and is also a leading smart city. No surprise, then, that it’s also home to a number of promising and well-funded blockchain startups and could become a leader for blockchain disruption.

Researchers recently found that the global blockchain market could surpass $7.7 billion by 2024, driven in part by financial sector growth in India and China, so having a friendly regulatory and financial environment is prudent. Positioning itself as a blockchain hub allows Singapore to capture lucrative investments and opportunities in the future. The government seems well aware of that, as evidenced by recent moves.

High incomes from cryptocurrencies (NHK World), Rated: A

Japan’s National Tax Agency believes that hundreds of people last year earned significant incomes from trading in digital currencies.

At least 331 people reported making at least 100 million yen, or about 910,000 dollars, from cryptocurrencies.

Extortionists Who Threatened 12 BJP MLAs Received 1.5 BTC in Their Crypto Wallet (Crypto-news), Rated: A

The extortion investigation of 12 UP MLAs has taken a crypto turn today. Investigative agencies have found that one of the cryptocurrency wallets in which MLAs threatened were asked to deposit money was credited with 7 lakh rupees sometime ago. The entire amount was withdrawn within two weeks, officials investigating the matter told India Today.

The amount, according to information provided by investigators, was deposited to cryptocurrency wallet in question on 3rd of May. It was a deposit of 1.5 BTC, or 7.5 lakh INR approximately.

Crypto currency stunt on Everest linked to Sherpa death (New Straits Times), Rated: A

A promotional stunt by an Irish tech company to bury US$100,000 worth of a new cryptocurrency at Everest’s summit has been linked to the death of a Sherpa guide, the company said Saturday.

Lama Babu Sherpa has not been seen since 14 May and is presumed dead, Nepal-based Seven Summit Treks, who organised the logistics for the expedition, told AFP.

Companies In Faisalabad Fooling Citizens Over Digital Currency (UrduPoint), Rated: A

According to media reports, huge money from citizens is being received in the name of digital Currencyinvestments. According to an intelligence report, representatives of fake companies are active in different cities of pakistan. An internet account is given to the citizen on an investment of Rs 32,000 lacs.

One unit of virtual currency Bitcoin is equal to $14,450 (15 lacs, 26 thousand and 281 rupees) which means 30 Tola of gold can be bought from a single Bitcoin. Previous month, Bitcon’s worth reached $9,665. This significant increase in currency has been witnessed when it was divided into two parts last year. The second currency was named as Bitcoin cash.

Bangkok Bank Joins R3’s Trade Finance Blockchain Initiative (CoinDesk), Rated: B

Bangkok Bank has joined the Marco Polo trade finance initiative developed by blockchain software startup R3 and trade finance technology firm TradeIX.

Blockcloud Unveiled in Tokyo: World-Class Scientific Research Joins Blockchain Arena (BusinessWire), Rated: B

Blockcloud, a service-centric blockchain network system for the “Internet of Things” (IoT), was unveiled yesterday at the Genesis CAT Meet-up in Tokyo, Japan.

Africa

Cryptocurrency Exchange to Open in South Africa, Sygnia Says (Bloomberg), Rated: AAA

South African money manager Sygnia Ltd. said it intends to start a cryptocurrency exchange in the third quarter of this year to tap growing interest from investors in the country in digital currencies.

To be known as SygniaCoin, the exchange will “offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody and integration with standard savings products,” the Cape Town-based company said. Sygnia, which has 181 billion rand ($14.5 billion) under management, also plans a fund that will invest in a range of cryptocurrencies, it said in an six-month trading statement Friday.

Cyber-Tokens Only for South African Crypto-Investors (Crypto Coin Spy), Rated: A

Due to their personal opinion that cryptocurrencies don’t meet what they feel are the ‘requirements’ of ‘money’, the South African Reserve Bank has decided to create their own (admittedly pretty cool) term, ‘Cyber-Token’.

HIGH COURT OF ZIMBABWE LIFTS CRYPTOCURRENCY BAN (Bitcoinist), Rated: A

The High Court of Zimbabwe has lifted a ban on cryptocurrencies in the Southern African country. This follows a lawsuit that was filed by a local cryptocurrency exchange which argued that the Reserve Bank of Zimbabwe did not have any authority to declare cryptocurrencies illegal.

South African Authorities Investigate $ 80 Million Crypto Investment Scam (CCN), Rated: A

South African authorities are investigating a company called Bitcaw Trading Company for investment fraud following a loss of more than 1 billion rand (approx $80 million) affected 28,000 people, according to a news release from the South African Police Service.

Blockchain platform to ease service delivery in East Africa (The East African), Rated: B

East African governments are preparing to harness blockchain technology — a digital distributed ledger system for recording transactions — to improve service delivery and grow their economies, even as financial regulators counsel caution over fears of fraud.

Uganda’s Minister of Information Communication and Technology, Frank Tumwebaze told the conference that a taskforce will be created to study and advise the government on how best the technology can be deployed in Uganda.

Eastern Europe

UKRAINE: POSSIBLE JAIL FOR POLICE WHO MINED CRYPTOCURRENCY AT WORK (Bitcoinist), Rated: A

Police in the Ukrainian city of Rivne are facing up to three years in jail for mining cryptocurrency at a police station, reports claim this week.

Caribbean

WISEBITCOIN LAUNCHES THE FIRST EVER CRYPTOCURRENCY TRADING PLATFORM WITH LEVERAGE LEVELS (Bitcoinist), Rated: AAA

Cryptocurrency trading just became faster and easier than ever before with the launch of Wisebitcoin, the world’s first cryptocurrency trading service offering leverage levels up to 20:1 utilizing the MetaTrader 5 trading engine.

Canada

Canadian Lawyer Calls Parliament to Legalize Digital Currencies as “Money” (Coinsquare), Rated: A

Now, in a post on the blog of the Canadian Bar Association (CBA), lawyer Chetan Phull called on parliament to legally classify digital currencies as “money.”

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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