Daily News Digest Featured News

Thursday July 12 2018, Daily News Digest

Source: The Next Web

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United States

Litecoin Price Spikes Above $ 80 on Bank Acquisition News (CoinDesk), Rated: AAA

The price of litecoin spiked to $81 on Wednesday amid notable news for the cryptocurrency often called the silver to bitcoin’s gold.

The world’s sixth-largest cryptocurrency by market value looks to have picked up a bid on reports that the Litecoin Foundation has acquired a 9.9 percent stake in Germany’s WEG Bank through a new partnership with crypto-to-fiat payments provider TokenPay.

Bitcoin’s Computing Power Growth Is Outpacing The Bitcoin Price (Forbes), Rated: AAA

However, despite bitcoin’s price stumble in 2018, the hash rate has continued to grow — increasing over 100 percent over the last four months, CoinJournal spotted. Over the same period the bitcoin price has slumped by a third.

Bitcoin Hash Rate
Source: Blockchain.info and Forbes

Bitcoin’s Price May Be Charting a Bull Reversal (CoinDesk), Rated: AAA

It’s a slightly confusing picture at the moment, however. The recent short-term bullish bias has been neutralized following BTC’s close below (as per UTC) the 10-day moving average (MA) yesterday.

Further, the risk of a deeper pullback to $6,000 (February low and psychological support) look to have increased after Tuesday’s 5.7 percent price drop.

However, that does not necessarily mean the bears are back in a commanding position, since the cryptocurrency is still holding well above the recent low of $5,755 (hit on June 24).

Source: CoinDesk

Bitcoin or bust? Brazen $ 40M cryptocurrency heist apparently never happened (The Morning Call), Rated: A

The crime described by federal authorities last year — a bitcoin heist of more than $40 million that left even experts flummoxed — would have been one of the most audacious and technically sophisticated cybercrimes in the short history of the supposedly fraud-proof cryptocurrency.

But by the time its purported mastermind — Ted Price, 32, of Hatfield, Montgomery County — was sentenced to less than three months’ incarceration Tuesday — time he already has served — all those early, outsize claims had vanished into the digital ether.

As it turns out, there was no stolen bitcoin. Prosecutors blamed Price for exaggerating his technical prowess. And the amount he allegedly stole — a sum investigators once estimated to be in the millions — was pegged in court Tuesday as barely more than $150 tied to an entirely separate crime.

Crypto Wallet Founder Believes Bitcoin Could Hit $ 60,000 This Year (CCN), Rated: B

Julian Hosp, co-founder and president of TenX, a crypto wallet, told CNBC during the RISE tech conference in Hong Kong that he expected to see bitcoin’s price fall to $5,000 when it reached its December highs, and he remains confident that a $60,000 price this year is feasible.

Bitcoin (BTC) is Crypto Investors’ Best Bet: Wall Street Crypto King (Investing.com), Rated: B

Speaking on CNBC’s Fast Money, Smith, who is the head of digital asset at Susquehanna International Group (a global trading and tech firm), went so far as to label Bitcoin the internet’s prime medium of exchange.

Coinbase, valued at $ 8 billion, hits its lowest: Bitcoin [BTC] responsible? (AMBCrypto), Rated: AAA

Coinbase, an online trading platform for the digital currency, is being greatly affected by the bear market for Bitcoin and other tokens. Over the past few days, the plunge in prices has caused the download ranking for Coinbase to fall extremely low. It has fallen to its lowest among U.S. finance apps since April last year.

Coinbase generates revenue by charging transaction fees to users, and last year, it stood at $1 billion. Risen from its valuation of $1.6 billion in 2017, Coinbase reportedly has a valuation of about $8 billion.

Coinbase CTO on Crypto Userbase: ’60x Growth’ May Be Coming (Bitsonline), Rated: A

Is a 60x boon to cryptocurrencies’ userbase possible? Going off of current global smartphone ownership levels, recently appointed Coinbase Chief Technical Officer Balaji S. Srinivasan‏ argued this boon was possible and that the crypto space is “just getting started.”

Ethereum Classic (ETC) Hidden Secret on Coinbase One Month after Listing (Crypto Globalist), Rated: A

There are reasons why many digital coins dream of being listed on Coinbase and the magic can be traced back to the listing of Ethereum Classic (ETC) on the platform just a month ago. The controversial listing that left bigger coins including Ripple (XRP) in the cold has seen increased adoption of the Ethereum forked outfit.

The controversy surrounding the listing brought the less known coin into the limelight. With many investors looking at the price first when investing on virtual currencies, it appears the coin is offering a better value proposition that most coins at the moment. Many had written off the coin prior to its listing and are now coming back to tap into its potential.

Coinbase Co-Founder Backs Blockchain Startup’s $ 3 Million Seed Round (CoinDesk), Rated: B

A startup that is developing a protocol based on the ethereum blockchain to allow users to validate information across different datasets has raised $3 million in seed funding.

Called DIRT, the San Francisco-based company said Wednesday that notable investment firms taking part in the round include Digital Currency Group, Pantera Capital, China-based Zhenfund and InBlockchain. Individual investors such as Linda Xie and Coinbase co-founder Fred Ersham also participated.

Dirt Protocol raises $ 3M for a decentralized, blockchain-based approach to information vetting (TechCrunch), Rated: A

The team at Dirt Protocol is using blockchain technology to create a new approach to verify information.

The startup doesn’t plan to launch its platform until later this year, but it announced today that it has raised $3 million in seed funding from General Catalyst, Greylock, Lightspeed, Pantera Capital, Digital Currency Group, SV Angel, Avichal Garg, Elad Gil, Fred Ehrsam, Linda Xi and others.

Ripple Hires Facebook Payments Exec and Names New CTO (Fortune), Rated: A

The blockchain company Ripple announced the hiring on Wednesday of Kahina Van Dyke, a banking industry veteran who recently worked as Facebook’s global payments director, as its new senior vice president of business and corporate development. The company also said head cryptographer, David Schwartz, would assume the role of chief technology officer.


Song says her startup, Oasis Labs, can curtail some of those problems with the help of blockchains, the new form of cryptographically secured record-keeping inspired by the digital currency bitcoin. Oasis announced $45 million in funding this week, from a mixture of big Silicon Valley VC funds and cryptocurrency investors. Song and one of her cofounders have already tested some of their ideas by helping install new privacy safeguards at Uber, the ride-hailing unicorn whose troubled past includes security incidents.

BitGo Announcement: Cryptocurrency Software Firm Adds 57 New Ethereum Assets (Crowdfund Insider), Rated: A

Blockchain software firm BitGo has expanded its suite and custody products and services to support a total of 57 new ethereum assets, according to CoinDesk. The media outlet reported that the addition of the assets was done due to the demand for services that safeguard private keys. Founded in 2013, BitGo provides digital wallets, offline vaults, single integration APIs and private blockchains to world’s largest cryptocurrency exchanges and financial enterprises conducting over $12 billion in monthly transactions.

Blockparty Teams Up with Blockchain World Conference for All-Crypto Poker Tournament (Globe Newswire), Rated: A

Taking over Harrah’s Resort in Atlantic City July 11-13, Blockchain World Conference (BWC) has announced that its three-day conference will conclude with the first-ever, casino-sanctioned, all-crypto poker tournament. The 100-player event will be held at 11:00 AM ET on Saturday, July 14, 2018, and will be ticketed entirely by the Blockparty blockchain-powered live event ticketing platform. In addition to tournament ticketing, Blockparty will be used for participants to buy-into games, bet, and cash out in cryptocurrency.

In order to guarantee a seat in the tournament, players must already be attendees of the Blockchain World Conference and pay a $250 buy-in in cryptocurrency on the Blockparty platform. The tournament winner will receive two VIP tickets to BWC South taking place in Hollywood, Florida, December 3-5, 2018, and a three-night stay at the Diplomat Beach Resort, a prize that is worth a grand total of $10,000. Blockparty will also offer prizes to any player that knocks out a pro, in addition to a competition where they will pay for the buy-in for 10 people to attend the poker tournament.

The 1st Judicial Finding That Digital Tokens Are Securities (Law360), Rated: A

On June 25, 2018, a magistrate judge in Florida issued a report in a class action — Rensel v. Centra Tech Inc. — finding that tokens issued and sold by technology startup Centra Tech were investment contracts. While the report and its recommendations are not final until approved by a district court judge, it appears to be the first judicial finding that a company’s issuance and sale of tokens through an initial coin offering, or ICO, must comply with federal securities laws.

Co-founder of Google Finds Blockchain Extraordinary and Is Mining ETH (Blokt), Rated: A

Google co-founder Sergey Brin mentioned, at a blockchain conference in Morocco, that he has been mining Ethereum with his son.


4 cryptocurrency trends to watch out for (The Next Web), Rated: AAA

1. Despite Bitcoin’s volatility, it has been more stable than other major cryptocurrencies. Research from the BlackRock Investment Institute found that Bitcoin is significantly less volatile than the next two most popular cryptocurrencies — Ethereum and Ripple.

Source: The Next Web

2. Many of the scaling issues plaguing Bitcoin are being addressed thanks to fixes like SegWit and Lightning Network. Perhaps the biggest threat to Bitcoin’s dominance is its scalability issues; due to the very limited number of transactions supported per second, the Bitcoin network gets bogged down as more people use the network.

3. Altcoins have always been influenced by Bitcoin price movements. When Bitcoin price goes up, altcoins go up. When it goes down, altcoins go down. This trend will prompt more and more investors to see Bitcoin as a safer store of value and further shore up its dominance.

4. The rise of decentralized exchanges

Decentralized exchanges will rise, and it won’t be too long into the future. While many experts are speculating that decentralized exchanges aren’t ready for mass adoption yet, I believe that the rise of decentralized exchanges is more closer than is assumed.

Five Ways to Drive Mass Cryptocurrency Adoption (CryptoSlate), Rated: A

The benefits that cryptocurrencies can bring to the world are taking hold; Bitcoin is already proving to be a safe haven for citizens of politically corrupt nations, charities are able to open new channels for donations, and artists can be fairly compensated for their work. Yet much of the world is still unaware, hesitant, or resistant to the transformative power of cryptocurrencies.

TOP 10 ICO MARKETING AGENCIES (Bitcoinist), Rated: A

The market of Initial Coin Offerings (ICOs) saw a substantial growth in 2017 which transitioned in the first two quarters of 2018. With over $6 billion raised in the last six months alone, ICOs are no longer to be overlooked.

Below are the top 10 ICO marketing agencies which have established a proven track record and have managed to help some notable projects raise a serious amount of money.

ICO Platforms That Might Surprise You (Crypto Briefing), Rated: A


It’s not hard to see why ICOs would prefer Stellar’s low-fee, five-second transactions over Ethereum’s volatile gas prices. The Stellar network is now home to a whole constellation of ICOs: Mobius, billed as “the Stripe for Blockchain,” cleared $39 million in its token sale earlier this year. We’ve also covered Pigzby, an adorable app that teaches kids to be their own piggy bank. 

dPOS Systems

After the past year, EOSNEO and Tronix have been covered so thoroughly that they will not need any introduction to regular readers. Although they are very different projects, they’re all presented as solutions to Ethereum’s (perceived) problems.

Ethereum Classic

Most people forgot all about Ethereum Classic after the 2015 fork, when Vitalik Buterin and the rest of the Foundation walked out with about 90% of the hashrate.


Yes, believe it or not, those complicated Bitcoin blocks can also include ICO tokens. The Omni layer, which consists of a second layer on top of Bitcoin, includes transactions in other digital assets as well. It’s like a second accounting-book, written into the margins of the Bitcoin Ledger—with hundreds of thousands of transactions.  

Blockchain in Telecoms Will Become $ 1 Billion Industry by 2023 (CoinTelegraph), Rated: B

Blockchain will contribute almost $1 billion to the telecoms sector alone within the next five years, MarketWatch reports Wednesday, July 11. a new researchforecasts this week.

According to a global market research store Research and Markets, blockchain technology in telecoms will explode from a $46.6 million industry in 2018 to one worth $993.8 million in 2023.

European Union

Bitmain-Backed Opera Web Browser Adds Built-In Ethereum Wallet (CCN), Rated: AAA

Popular internet browser Opera will become the first mainstream web interface to add native support for an ethereum wallet, the company announced on Wednesday.

The wallet, initially available through Opera’s Android browser and currently restricted to a private beta, aims to provide users with “friendly and seamless” access to decentralized applications (dApps) such as CryptoKitties and AirSwap, as well as storage for etherand ethereum-based tokens.

Binance CEO Fires Back at Ethereum’s Vitalik Buterin Remark That Centralized Exchanges Should “Burn in Hell” (cryptovest), Rated: AAA

Changpeng Zhao (CZ), the founder and CEO of Binance, said centralized exchanges are not that bad, and decentralization is not a cure-all refuting a recent comment by Ethereum founder Vitalik Buterin that those exchanges should “burn in hell”. The exchange, which carried out its Initial Coin Offering (ICO) about a year ago, quickly turned not only into an active trading hub, but also in a hub for the crypto community.

A $ 3.3 Billion Claim: Has Cardano’s Blockchain ‘Solved’ Proof-of-Stake? (CoinDesk), Rated: A

Soon to power the public blockchain cardano, Ouroboros may one day support the world’s eighth-largest cryptocurrency, with its 25 billion ADA tokens worth $3.3 billion. And a look at the history of proof-of-stake systems perhaps showcases why so much money is on the line.

Ledger Crypto Wallet Gains Investor Interest After 1 Million Sold in 2017 (Bitcoin Exchange Guide), Rated: A

After Selling One Million Units in 2017, Ledger Attracts Investors In Samsung and Google.

Cryptocurrency Indices – a New Crypto Market Trend That CryptoIndex Is All Set to Embrace! (NewsBTC), Rated: A

Similar to traditional markets, the creation of indices allows the old-world finance markets to start viewing the new world currencies as a serious and viable investment opportunity.

CoinGate Launches Bitcoin Lightning Payment Pilot (Investopedia), Rated: A

According to Coin Telegraph, the popular digital currency payment service CoinGate is launching a pilot program in which 100 merchants will have the opportunity to test out transactions on a bitcoin Lightning Network. These merchants will include servers and hosting services, online stores making use of cryptocurrency merchandise and payments, and esport betting sites, among others. Per CoinGate, the Lightning Network iteration of the payment service “will be” available from July 1.

Malta-based Blockchain Company Palladium Launches World’s First Initial Convertible Coin Offering (Coinspeaker), Rated: A

Palladium aims to raise $150 million in tokens in the ICCO, scheduled to begin July 25, and use proceeds to support the three core blocks of Palladium’s solution.

Malta-based blockchain company Palladium is launching the world’s first so-called initial convertible coin offering (ICCO). According to the press release published on July 10th, the aim is “to give investors peace of mind and a stake in the future of virtual currencies.”

nChain Receives Three Patents for Digital Rights Management Using Blockchain (Markets Insider), Rated: B

(1) European Patent number EP3295349 is entitled “A method and system for verifying integrity of a digital asset using a distributed hash table and a peer-to-peer distributed ledger“.

(2) European Patent number EP3295362 is entitled “A method and system for verifying ownership of a digital asset using a distributed hash table and a peer-to-peer distributed ledger“.

(3) European Patent number EP3295350 is entitled “A method and system for verifying ownership of a digital asset using a distributed hash table and a peer-to-peer distributed ledger“.

United Kingdom

Could a Decentralised NEO Listing On Coinbase See NEO Up 130% (Cryptodaily), Rated: AAA

Check out what happened when Bitcoin Cash was listed on Coinbase on the 19th of December 2017. Bitcoin Cash spiked and rose from a value of $1887.96, up to an all time high of $4355.62, forcing Bitcoin Cash up 130.7%.

Bitcoin Cash

At the time of writing, NEO is valued at $33.25, therefore a rise of 130% would see NEO reach a value of $76.50.

Typerium: Blockchain Company for Creators Files Two Patents for Its Innovative Technology (Markets Insider), Rated: B

Typerium, the blockchain company for creators, is cementing its position in the market by filing two patents for its technology. The company aims to significantly reduce competition and the risk of any other companies stealing their ideas.


China Will Continue to “Crush” Provision of Crypto Investing to Its Citizens (Crowdfund Insider), Rated: AAA

An official at the People’s Bank of China (PBC) tasked with regulating internet finance has reiterated the Chinese state’s determination to stop all ICO and crypto investing in the country, even solicitations to invest emanating from overseas, Coindesk reports.

According to the the Chinese publication Yicai, Pan Gongsheng, Deputy Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange as well as head of “The Finance Rectification Working Group” told colleagues on Monday that the moment calls for decisive action and long term policy creation to restrict access to “digital asset” investing.


Canadian Crypto Exchange Coinsquare to Launch in Japan (Bitcoin.com), Rated: AAA

Canadian cryptocurrency exchange Coinsquare has announced its plan to enter the Japanese market pending approval by the country’s financial regulator. The new exchange will be launched under the Dlta21x brand. It will focus on Japan initially but has plans to expand into other Asian markets.

Bitcoin Prices Broaches $ 9,000 on Crypto Exchange WEX; Critics Cry Foul (CCN), Rated: AAA

The exchange in question is World Exchange Services, better known by its acronym, WEX, where the bitcoin price inexplicably spiked as high as $8,999 during intraday trading. Despite a brief pullback, WEX’s BTC/USD market is currently holding steady at $8,000 — a full $1,600 above the trading pair’s global average.

WEX Bitcoin
Source: CCN

The pump extended to other WEX markets, including USDT/USD, which saw the controversial tether token climb as high as $1.30 despite being pegged to physical USD at a 1:1 ratio.

Source: @kazonomics on Twitter

Indians Set Up Crypto Investment Fund in US instead of India Due to Favorable Regulations (Crypto-News), Rated: A

That’s right – what could have happened in India is now happening in US. A group of influential investors from our country have set up a new fund in United States to invest in crypto startups. The fund, known as B1T Capital, will focus solely on US based cryptocurrency startups and its Managing Partner has cited lack of regulations in India as one of the key reasons behind the decision of these guys to setup the fund in US.

India Not Looking to Ban Cryptocurrencies, Official Says (cryptovest), Rated: A

The Indian cryptocurrency market, which was recently rocked by a central bank policy that enacted a de facto ban on these assets, may have some hope after all. At the very least, this is what one government official said to Quartz, speaking under the condition of anonymity.

“I don’t think anyone is really thinking of banning [cryptocurrencies] altogether. The issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as [a] commodity may let us better regulate trade and so that is being looked at,” said the senior government official.

A comparison of cryptocurrency laws and regulations – South Korea (Asia Business Law Journal), Rated: A

South Korea is one of the world’s most significant markets for blockchain technology companies. As of earlier this year, the Korean won (KRW) was the most frequently used currency for digital currency trading except for the US dollar. In the second half of 2017, more than 10% of Bitcoin trades around the globe were done in KRW.

For €10k, Fujitsu will tell you if your blockchain project is a load of bull (The Register), Rated: A

The Japanese giant claims its scheme, in which concept prices start at €9,900, will propose to customers a minimum viable product in five days.

Gartner claimed in its 2018 CIO Survey that just 1 per cent of those polled had signed off on full-blown blockchain-related projects, 8 per cent were dipping their toe in the water and 77 per cent had no interest whatsoever.

XRP Will Become a Standard for Digital Currency and Money Says Yoshitaka Kitao (Ripple Coin News), Rated: B

Ripple is a digital money transfer platform with the promise of revolutionizing the money transfer industry. At a recent blockchain conference in Japan Yoshitaka Kitao, the CEO of SBI holdings predicted that adoption of Ripple (XRP) would increase significantly. Moreover, the efficiency of a distributed ledger would make its adoption inevitable.

’XRP will become a universal standard of digital currency and money. This is because a lot of companies, banks, businesses, organizations, and financial institutions are joining the platform of Ripple for international remittance services.’’-Yoshitaka Kitao



On Tuesday, U.S. ambassador Richard Grenell revealed that the U.S. government is extremely concerned about Iran’s plans to withdraw 300 million euros in cash held in German banks, Reuters reported. “We encourage the highest levels of the German government to intervene and stop the plan,” said Grenell.

Senior market analyst at eToro, Mati Greenspan, however, believes cryptocurrencies can thrive during government crackdowns and capital controls. He explains:

[A crackdown in Iran] would create a secondary market for crypto assets within the economy, which—normally speaking—would have a very high markup compared to the asset’s price elsewhere in the world …So, there will be places where they’ll be able to trade peer-to-peer. They don’t need an exchange. Obviously, it’s a lot easier if you have a local exchange that accepts credit cards or bank transfers, but if that infrastructure’s not there, they can still trade it peer-to-peer.

Iran cryptocurrencies
Source: Bitcoinist

85% Of Canadians Are ‘Aware’ Of Bitcoin, Says Bank of Canada (CoinDesk), Rated: AAA

The number of Canadians who own bitcoin nearly doubled over the course of a year, according to the results of a newly-published survey by the Bank of Canada.


Blockchain Board Of Derivatives (BBOD) Launches Crypto Trading Wallet Security System (Bitcoin Exchange Guide), Rated: AAA

Blockchain Board of Derivatives (bbod.io) launches in July with a solution to the most fundamental problem in crypto trading–security.

Many cryptocurrency exchanges use centralized wallet systems which cause traders to lose control of their funds and expose them to security threats. However, Blockchain Board of Derivatives, launching in July, uses a decentralized wallet system


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