Daily News Digest Featured News

Thursday June 21 2018, Daily News Digest

Bitcoin bubbles
Source: Yahoo! Finance

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European Union

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News Summary

United States

SEC documents detail scores of fraud allegations against Coinbase (Mashable), Rated: AAA

In 134 pages of complaints filed to the SEC and the California Department of Business Oversight obtained by Mashable following a five-month FOIA process, a picture emerges not of a responsible actor in the cryptocurrency space opening the market to new investors, but rather a company overwhelmed by and underprepared for its own success.

A recurring theme in the SEC complaint files Mashable obtained is the seeming disappearance of a would-be trader’s money, and what is portrayed as an aggressive nonchalance on the part of Coinbase in response to the loss.

Coinbase complaint
Source: Mashable

After claiming to have lost $5,000 as a result of the error, the customer levies the following allegation: “I believe the company is holding my funds to make money on top of my investment.”

Here’s the pep talk the CEO of bitcoin exchange Coinbase gave to new hires about the price dip (Yahoo! Finance), Rated: AAA

But the CEO of Coinbase, a cryptocurrency exchange valued at $1.6 billion last August, has a message for newer employees: Don’t panic.

“When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true,” he continued. “Reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price.”

Bitcoin bubbles
Source: Yahoo! Finance

What Coinbase And McKinsey Teach Us About Decisions And Digital Transformation (Forbes), Rated: A

The recent Medium article How we make decisions at Coinbase by CEO Brian Armstrong gets a lot right, especially this: Decision making should be about problem-solving, not politics.

His framework aligns perfectly with my checklist for making faster, better decisions:

  • Set parameters: Write down what the decision is about, who needs to be involved and when the decision needs to be made and revisited.
  • Deliberate: Write down the relevant information and the potential options, take straw polls to highlight the top choices, and outline what could go right or wrong with these choices.
  • Decide: Make, communicate and record the decision.

Coinbase Custody will Attract Over $ 20 Billion from Institutional Investors (BTC Manager), Rated: A

Fresh from opening a new office in Japan and acquiring the Ethereum-based exchange Paradex in an ongoing expansion drive, Coinbase is set to launch a new Regulated Crypto Custody service that experts say will open up the crypto finance space to game-changing investment from institutional investors and funds.

Cryptocurrency Technicals – Navigating The Bear Market (Seeking Alpha), Rated: AAA

Long time readers may recall that we regard Bitcoin and other liquid big cap cryptocurrencies as secondary media of exchange from a monetary theory perspective for the time being. The wave of speculative demand that has propelled them to astonishing heights was triggered by market participants realizing that they have the potential to become money. The process of achieving more widespread adoption of these currencies as a means of payment and establishing appropriate (and potentially more stable) exchange rates relative to state-managed fiat currencies is still underway.

cryptocurrency market caps
Source: Seeking Alpha

We recently discussed divergences in the gold sector. A similar analysis can be applied to cryptocurrencies. Since selling off from its December 2017 peak, BTC has put in three short-term lows. Both BCH and LTC have diverged at the second and third low. On occasion of the second low, BCH put in a lower low vs. a higher low in BTC and LTC, and on occasion of the recent third low, it put in a higher low vs. both, while LTC put in a lower low relative to the first low. This creates a low-risk buying opportunity, as the recent lows can be used as stops.

ETH-USD BTC
Source: Seeking Alpha

Caveat Emptor

If one looks at a longer-term chart of BTC, it is immediately obvious that there are several important lateral support levels situated well below current levels – the next ones are two former resistance points that later became support, at $5,000 and $3,000. Given the inherent difficulty of evaluating these currencies and the large size of previous corrections, it is definitely possible that one or both of these levels will be seen again.

cryptocurrency search interest

Tron Price Spikes After Blockchain Founder Acquires BitTorrent (CoinDesk), Rated: AAA

Tron (TRX) is reporting double-digit gains on Tuesday and is the biggest gainer among top 100 cryptocurrencies.

The cryptocurrency seemingly picked up a bid after reports started doing the rounds that Tron Foundation founder Justin Sun acquired BitTorrent – the owner of popular file-sharing client uTorrent – for $140 million. Rumors of the acquisition have been floating around since the end of May and the deal was reportedlysigned last week.

A MERGER THAT WOULD HAVE MADE CRYPTO INVESTING EASIER FAILS (Wired), Rated: AAA

IN JANUARY, BITGO, a Silicon Valley bitcoin wallet startup, announced plans to acquire Kingdom Trust, a Kentucky company that has quietly become a leading player in a thriving market serving cryptocurrency funds.

The move would have positioned BitGo to compete with a small but growing pool of players offering custodial service—in essence, storage of crypto assets—to high-net-worth individuals, institutions, and funds. It was designed to merge BitGo’s tech products, which offer a secure way for individuals to store bitcoin and crypto assets, with Kingdom’s custody services, which serve institutions. Having a trust charter, as Kingdom Trust does, would have given the combined entity a leg up on competition from Coinbase, Gemini (an exchange run by the Winklevoss twins), Ledger, ItBit, and Nomura, the Japanese bank which in May announced plans to offer crypto custody.

Can Bitcoin Go Back To $ 1000? (Seeking Alpha), Rated: AAA

In late 2017, the market capitalization of all digital currencies rose above the $800-billion mark, and it seems like the $1 trillion milestone would be conquered like a hot knife through butter. However, in 2018 market sentiment shifted and since the beginning of this year, the high flying world of cryptocurrencies has turned into a falling knife, shredding many of the latecomers to pieces when it comes to losses on their holdings.

Does the BIS report mean $1000 is in the cards?

The BIS warned of an existential threat when it comes to the asset class. The report said each new transaction increases the size of the ledger and slows the entire internet. Today, bitcoin comes around 32 terawatts of power, enough to provide energy to three million U.S. households. A major credit card company that processes billions of transactions each year only requires the energy that powers around 50,000 U.S. homes.

I believe that $6,000 is a significant technical level for bitcoin and all of the members of this asset class. Can bitcoin return to $1000 or lower? The answer is absolutely, as I have learned that everything is possible in markets where sentiment drives prices.

Bitcoin
Source: Seeking Alpha

Robinhood CEO: It’s ‘Very Foolish’ to Rule Out Bitcoin (CoinDesk), Rated: A

More than 1 million people signed up to trade cryptocurrencies in the days after mobile trading app Robinhood first announced the feature, co-CEO Vlad Tenev said at CB Insights’ Future of Fintech conference on Wednesday.

Bitcoin is ‘not for me’ but it’s too ‘arrogant’ to say it won’t have a future, Goldman Sachs CEO says (CNBC), Rated: A

Goldman Sachs CEO Lloyd Blankfein does not own bitcoin, but he did not rule out Tuesday the cryptocurrency having a future.

He explained how the world moved from gold to fiat currencies that we have today backed by government. Using that example, he said he could see a world where a cryptocurrency could exist.

Bitcoin: The Days of Future Past Explained (NewsBTC), Rated: A

The Wall Street Journal ran an op-ed yesterday examining the future of Bitcoin by drawing parallels to private currencies in the past in order to try and make sense of the current cryptocurrency market.

The piece begins with the statement that for “most of its 10-year history, the digital currency bitcoin has been viewed by some people as the future of money.” In order to put that into context the writer, Paul Vigna, explains that in 2009 when Bitcoin was launched, some people felt as if government-backed institutions were failing as the global financial crisis reached its apex.

Stablecoin Project Secures Backing From Peter Thiel, Coinbase, 40 Others (CoinTelegraph), Rated: A

A new project for a stabilized cryptocurrency that would function “like normal money,” has received backing from Peter ThielCoinbase, Distributed Global, GSR.IO and 40 others, according to a press release shared with Cointelegraph June 20.

The developmental-stage stable-value crypto project is dubbed “Reserve,” and closed a collective $5 mln seed round to develop a fully decentralized cryptocurrency that works “by locking up other cryptoassets in a smart contract in order to provide backing to the Reserve token and stabilize its price.”

Bithumb Hack Does Not Change Bitcoin Fundamentals (CoinTelegraph), Rated: A

The recent hack of leading crypto exchange Bithumb “doesn’t really change the fundamentals of Bitcoin” Litecoin (LTC) founder Charlie Lee stated in an interview with CNBC June 20.

Bitfi and McAfee Announce First Truly Unhackable and Open Source Crypto Wallet (GlobeNewswire), Rated: A

Bitfi (https://bitfi.com/), a global payments technology company working to enable businesses and consumers to participate in the digital currency economy, today announced Bitfi Wallet – the first unhackable, open source hardware wallet with an accompanying dashboard that features wireless setup and support for many popular cryptocurrencies and crypto assets, including Monero, a fully decentralized private cryptocurrency that has previously never had a hardware wallet solution.

McAfee Stops Shilling ICOs as Reckoning Nears (Bitcoin.com), Rated: A

John McAfee’s decision to stop shilling ICOs as a regulatory day of reckoning draws near is the top item in today’s edition of Bitcoin in Brief. Additional stories include Bittorrent trying to reassure users it wont cryptojack them to mine tron, Binance’s latest venture in Malta, a tether replacement getting VC backing, and Paris Hilton’s dad getting into crypto.

Cryptocurrency Hedge Fund Gets VC Fred Wilson’s Backing Amid Bitcoin Slump (Fortune), Rated: A

Union Square Ventures, the New York-based venture capital firm, is betting on yet another cryptocurrency hedge fund startup, Multicoin Capital.

Fred Wilson, the cofounder of USV, confirmed Wednesday that Multicoin is the sixth cryptocurrency fund the firm has invested in over the past year and a half. It’s also USV’s ninth active investment in the blockchain industry, including startups harnessing the decentralized technology behind Bitcoin.

U.S. Secret Service: Action Needed to Address Anonymous Cryptocurrencies (Forbes), Rated: A

A top U.S. Secret Service official on Wednesday asked Congress for help in preventing cryptocurrencies like Monero and Zcash, which provide users with enhanced privacy and anonymity features, from being used for illicit purposes.

Your crypto wallet is not your debit card (TechRadar), Rated: A

If your bank never performs any second-line identity verification checks, anyone who picked up your debit card would be able to walk in, hand it to the bank teller, and walk out with all the money you have in cash.

However, when it comes to cryptocurrencies, it’s a completely different ball game. Most people don’t transact through a bank—that’s kind of the whole point of it being decentralized. As a result, individuals themselves become responsible for implementing security, specifically through their selection of cryptocurrency wallets.

Nasdaq CEO says ICOs are ‘taking advantage’ of retail investors (CNBC), Rated: A

Cryptocurrency fundraising has brought in billions of dollars this year, mostly from retail investors. The process known as an initial coin offering exposes those investors to serious risks, according to the CEO of Nasdaq.

SEC Obtains Additional Order to Freeze PlexCoin ICO Assets (Crowdfund Insider), Rated: A

The Securities and Exchange Commission (SEC) has received an additional emergency court order freezing the assets of Dominic Lacroix. The freeze is part of an ongoing enforcement action that stems from some time ago. The SEC had previously sued for securities fraud and had obtained an emergency asset freeze in December of 2017. The order was unsealed on June 18.

CBOE Global Markets President: ICO Market to Face a ‘Regulatory Reckoning’ (CoinTelegraph), Rated: A

CBOE Global Markets President Chris Concannon has claimed that the initial coin offering (ICO) market could soon face a two-fold regulatory “reckoning,” Business Insider reports June 19.

US Fourth Largest Mobile Provider Partners on Automotive Blockchain Platform (CoinTelegraph), Rated: A

The U.S.’ fourth-largest mobile network operator Sprint has partnered with blockchain startup NXM Labs to launch a 5G connected car platform powered by blockchain technology, the companies confirmed June 20.

Here’s Why Bank of America Has Filed Nearly 50 Blockchain-Related Patents (Fortune), Rated: A

Bank of America, one of the world’s largest banks, also holds the most live patents in the blockchain space.

“We’ve got under 50 patents in the blockchain/distributed ledger space,” said Bank of America’s chief technology officer, Catherine Bessant, during the CB Insights Future of Fintech even in New York on Wednesday. “While we’ve not found large-scale opportunities, we want to be ahead of it we want to be prepared.”

Microsoft is deploying what could become one of the biggest enterprise blockchains (Quartz), Rated: A

Even as blockchain mania is in some cases being replaced by blockchain skepticism, projects using the distributed ledger technology are still being rolled out. One of the latest is a partnership between consulting firm EY and technology giant Microsoft.

The companies say the network, initially to be used for rights and royalties processing by Microsoft’s game publishers, will eventually have a much wider purpose. It’s meant for any industry in which assets or intellectual property are licensed and royalties accrue based on contracts. Users could include developers, music publishers, authors, or production houses, which generate millions of transactions each month in paid royalties.

Ad industry execs are getting into screaming matches over whether blockchain will actually have any effect on the industry (Business Insider), Rated: A

Indeed, as the hype over blockchain technology’s potential for the ad business reaches a crescendo (including more than half a dozen panels on the docket at Cannes), most insiders appear to fall into two camps: Some have an almost religious belief in blockchain’s power to revolutionize everything, while others see it has having next to no application in adland.

Blockchain browser Brave starts opt-in testing of on-device ad targeting (TechCrunch), Rated: B

Brave, an ad-blocking web browser with a blockchain-based twist, has started trials of ads that reward viewers for watching them — the next step in its ambitious push towards a consent-based, pro-privacy overhaul of online advertising.

Bitcoin IRA Adds Zcash and Stellar Lumens to its List of Cryptocurrencies (PR Newswire), Rated: B

BitcoinIRA.com, the world’s largest and most secure cryptocurrency IRA platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts, has announced it is adding leading coins Stellar Lumens (XLM) and Zcash (ZEC) to its list of available digital currencies. These new coins join BitcoinIRA.com’s other digital offerings including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC).

International

Bloomberg Terminal Adds Huobi’s Cryptocurrency Market Index (CoinDesk), Rated: AAA

Financial data firm Bloomberg is now providing the HB10 crypto market index launched by crypto exchange Huobi on its terminal service.

The exchange said on Thursday that users of Bloomberg Terminal are now able to track the aggregated performance of the top-10 cryptocurrencies that are traded on Huobi Pro – now the third largest exchange in the world by trading volume, based on data from CoinMarketCap.

Release of the June 2018 Edition of our quarterly Crypto Research Report (Incrementum AG), Rated: AAA

The monopoly on money is a very powerful tool at the state’s disposal, and it’s a monopoly that has been abused for about as long as it has existed. Already in antiquity the funding of wars was accomplished by systematically diluting the precious metal content of coins, which over time pushed the value of their precious metal content ever further below their nominal value. Rulers across history have succumbed to the temptation of increasing their seigniorage income or of generating indirect tax revenues by means of inflation. Such behavior was eventually institutionalized in the form of the two-tiered banking system we know today — with money creation through the interplay between central banks (issuance of central bank money) and commercial banks (deposit money creation through lending of circulation credit) also known as fractional-reserve banking – which drapes a veil over the collection of seigniorage ….

The infrastructure side of things promises to be very active in the coming months. We will stay tuned. New players such as Binance are attacking companies like Coinbase. In addition, there is a continuously growing list of newcomers: from Goldman all the way to start-ups like Revolut or exchanges such as Nasdaq. Within the crypto market itself, there are of course also many promising projects. While the market is still recovering from the ICO Bubble, new coins which aren’t based on the classic Blockchain are gaining traction. One example is the Iota project
which is already pretty popular in Europe, and is investigated in length in next chapter of this report.

Bitcoin FTSE 100
Source: Incrementum

Read the full report here.

Dash Teams Up With AloGateway to Facilitate B2B Payments Globally (Crowdfund Insider), Rated: A

Dash, the top digital currency for payments, announced on Wednesday it is teaming up with global payments provider AloGateway to facilitate B2B payments globally. According to Dash, through the new partnership, merchants around the world can now send, receive, and hold Dash and other major cryptocurrencies, including bitcoin and ether, in their AloGateway wallets.

HIVE Blockchain: The Mining Company Providing The Backbone For Cryptocurrency (Forbes), Rated: A

It’s no secret that the Bitcoin boom has rapidly evolved to transform the way we imagine global currency in a digital world. As cryptocurrency continues becoming a normalized alternative to cash, coins and credit cards — more merchants are accepting this digital money as a viable payment method.

Aiming to accelerate the development of the Blockchain sector, Genesis Mining partnered with Foire Group to go public and launch HIVE Blockchain in 2017. Establishing the largest listed blockchain infrastructure company, HIVE operates miners that power various types of cryptocurrency, providing the backbone for Blockchain use cases. The company has raised $115 million in funding to date.

Why Do Cities Want Their Own Cryptocurrencies? (CityLab), Rated: A

Coming soon to Slovenia: a brand new city that runs completely on cryptocurrency.

The list of cities experimenting with cryptocurrencies is diverse, and so are their goals. Dubai launched emCash in 2017 to flex its high-tech prowess as a “smart city.” Berkeley, California, is exploring a city-branded cryptocurrency effort to fund municipal bonds, making up for inadequate outside investment. Cities in Venezuela are bartering with Petros in a desperate—and questionable—attempt to raise funds amid the country’s economic crisis. And Seoul’s mayor has floated the idea of creating S-coins to fund social welfare programs for the sake of efficiency and advancing technology.

Civic (CVC) Just Secured a Brand New Partnership (Global Coin Report), Rated: B

Although seemingly just another partnership in the line of several that CVC has acquired during the past few months, Enkidu represents more than just a partner. Besides from sharing the same idea with Civic, being a blockchain based platform, Enkidu is based on collaboration while the main objective of their technology is to bring people together.

European Union

Binance is Backing Malta Stock Exchange’s Fintech Startup Program (CCN), Rated: AAA

Malta continues to move ahead in the crypto space with cryptocurrency exchange giant Binance now confirming that it will be supporting the country’s Malta Stock Exchange (MSE) in an innovative blockchain and crypto-related project.

Pundi X (NPXS) Wins Binance Community Vote, Price Still Extremely Volatile (cryptovest), Rated: A

Pundi X (NPXS), a recent ICO, was the winner for the first round of renewed community coin voting on Binance. However, the listing is not immediate, and the market price tanked overnight by 25%, to $0.01. In the past hour, the asset gained more than 17%.

Young Millionaires Interested in Investing in Cryptocurrencies (CoinTelegraph), Rated: A

In its World Wealth Report 2018, consulting firm Capgemini identified a marked growth of interest in cryptocurrencies among rich investors, Cointelegraph auf Deutsch reported yesterday, June 19.

For the report, Capgemini interviewed high-net-worth individuals (HNWI) and asset managers around the world about their interest in cryptocurrencies.According to the report, nearly a third (29 percent) of the surveyed millionaires expressed a high interest and more than a quarter (almost 27 percent) a general interest.

More than 70 percent of respondents aged 40 and under attach great importance to having their primary asset managers provide cryptocurrency information, compared with just 13 percent of over-60s.

The report is available here.

BBVA and Repsol to build blockchain finance apps (TechCrunch), Rated: A

Spanish banking giant BBVA has an early adopter when it comes to exploring and using blockchain in its legacy business, being the first global bank to use its blockchain network, built with distributed ledger architecture, to issue a corporate loan earlier this year. Now it is taking the next step: BBVA  has inked a partnership with Repsol, the Spanish energy giant, to build blockchain-based corporate finance solutions, and as first step BBVA has transferred a credit facility of €325 million ($375 million) using its blockchain network.

THINGS YOU CAN BUY TODAY WITH CRYPTOCURRENCIES (Irish Tech News), Rated: A

Bitcoin, which is recognized as the top cryptocurrency on the market, currently has a whopping market capital of $110 billion USD.

Pizza

Pizzaforcoins is a platform that allows the user to place orders for pizza by paying for them using Bitcoin.

Real estate

The real good news is there are now online real estate platforms that allow the user to buy property in exchange for the appropriate amount of Bitcoin.

Clothes

There are many online platforms such as Bitgear that allows the user to buy clothes in fashion for cryptocurrencies.

Air tickets

Well, now it is official Expedia and Cheapair both are accepting Bitcoins for the tickets you book.

Electronics

Online platforms such as Newegg are accepting Bitcoin in exchange for electronic items such as computers, T.V, mobile phones, etc.

Iris.ai is using blockchain to close the gaps in scientific research (Iris.ai Email), Rated: B

Iris.ai, developer of the artificial intelligence tool that helps researchers find relevant scientific papers, is using blockchain to help close the gaps in scientific research, supported by its innovative AIUR cryptocurrency fundraising project. It seeks to establish a decentralized community for academic research validations.

Crypto Valley names BDO as strategic partner (BDO Switzerland Email), Rated: B

The Crypto Valley Association (CVA), a global blockchain and cryptographic technology ecosystem, has named BDO Switzerland as a strategic partner. BDO CH is one of the country’s leading providers of auditing, accounting, tax and advisory services.

United Kingdom

UK Crypto Exchange to Launch Litecoin Futures (Coin Telegraph), Rated: AAA

UK-based crypto futures exchange Crypto Facilities is launching Litecoin (LTC) derivatives contracts this Friday, according to a Coindesk report Wednesday, June 20.

The new US dollar-denominated contracts will offer both long and short trading terms, with weekly, monthly and quarterly maturities.

China

Genesis Mining Brings Back Popular Bitcoin Mining Contracts (Ethereum World News), Rated: AAA

Have an interest in mining Bitcoin, but don’t know where to start?

You’re not alone, and Genesis Mining has the solution for aspiring miners just like yourself. Last week, the industrial scale miner announced the return of their massively popular Bitcoin cloud mining contracts, which allow customers to remotely purchase access to some of the world’s most sophisticated mining hardware and algorithms.

HitBTC Crypto Exchange Lists DAV (PR Newswire), Rated: A

HitBTC has announced that it will be integrating the DAV token in both BTC/DAV and ETH/DAV pairs. HitBTC has said that the listing is planned to become active on July 10, 2018, one day after the DAV Foundation is scheduled to unlock the DAV tokens sold in the token sale.

Oddup Adds Cryptocurrency Ratings to Its Growing Spectrum of Startup, ICO, and Investment Insights (PR Newswire), Rated: B

Oddup, the leading global provider of startup, investment, ICO, and cryptocurrency analysis and insights, has now added cryptocurrency ratings to its platform. The addition also includes cryptocurrency price targets for periods of six months and twelve months.

Asia

South Korea’s Bithumb loses $ 31.5m in cryptocurrency heist (The Guardian), Rated: AAA

The South Korean cryptocurrency exchange Bithumb said 35bn won ($31.5m) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital asset.

Bithumb said in a notice on its website that it had stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won were seized between late yesterday and early morning today”.

Samsung Marries Blockchain, AI in Cello 3.0 Logistics Platform (CoinTelegraph), Rated: A

South Korea electronics giant Samsung revealed a further blockchainimplementation in an official announcement June 20, using the technology in a new logistics platform.

The platform, dubbed Cello 3.0, is the brainchild of Samsung’s IT subsidiary Samsung SDS, which will use artificial intelligence (AI) and its “logistics knowhow” to deliver it, a press release states.

FANTOM Raises $ 40 Mil USD to Blaze a Trail Beyond Blockchain (Fantom Email), Rated: A

FANTOM will be announcing that it has raised $40m to build its next generation blockchain infrastructure platform that will enable crypto transaction speeds of more than 300,000 transactions per second (tps) at near zero cost.

BOScoin Announces “Reverse ICO Partner Program” For Companies Preparing Reverse ICOs (PR Newswire), Rated: A

BOScoin (www.BOScoin.io, CEO – Yezune Choi, Legal Entity Name- BlockchainOS), “a finance blockchain project to hack capitalism in the most capitalist way”, is taking a problem from Project Financing — high financial fees — and providing a solution: A new financing methodology based on three alternatives for the Age of Blockchain — credit creation through participation, global finance through collective intelligence, and the commonization of assets. BOScoin is developing “BOSNet”, a blockchain based mainnet for Public Financing. Furthermore, in order to discover and nurture reverse ICO corporations who want to run financing projects on BOSNet, BOScoin announced the “Reverse ICO Partner Program.”

BOScoin - Reverse ICO Partner Program
Source: BOScoin

Hyper-localized and global crypto-bank Bitex Global hires five ICO advisors (Crowdfund Insider), Rated: B

Bitex Global, the first locally-embedded global crypto-bank, today announced the hiring of five expert ICO advisors, Naviin Kapoor, Phillip Nunn, Nikolay Shkilev and Vladimir Nikitin, who will help Bitex Global evolve as it reaches the next phase of its development.

Nordics

What happens when cryptocurrency miners take over your town? (BBC), Rated: AAA

And recently, a number of mines have been popping in one unlikely country: Iceland.

Amid dozens of warehouses in a seeming wasteland, a nondescript shed houses one of these operations ­­­­– a cryptocurrency mine. Standing in what was once a car service facility on a US military base near Reykjavik, Arni Jensen from the Borealis Data Center explains how the building has been transformed into a cryptocurrency mine complete with racks of computers and hanging wires.

The computers heat up and need to be kept cool, which can be an expensive task to manage. Lucky for Iceland, it’s well equipped to handle this problem.

Canada

Toronto Stock Exchange to Trade New Blockchain ETF (CoinTelegraph), Rated: AAA

The Toronto Stock Exchange (TSX) will list a new blockchain exchange traded fund (ETF) starting Thursday, Bloomberg reported June 20. The Horizons Blockchain Technology and Hardware Index ETF fund will join other ETFs from Harvest Portfolio Group Inc. and Evolve Funds Group Inc.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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