Blockchain Daily News – Edition 130, 18.01.2018
January 18, 2018
Blockchain Daily News – Edition 132, 22.01.2018
January 22, 2018

Blockchain Daily News – Edition 131, 19.01.2018

Blockchain Daily News

by Florin Oprea

Edition 131, 19.01.2018

Fans’ Section

Fears Of Global Crackdown Fail To Dampen Cryptocurrency Interest

Gertrude Chavez-Dreyfuss – Reuters

Bitcoin’s On A Wild Ride, But Investors Have Shown It’s Here To Stay, Analyst Spencer Bogart Says

Liz Moyer – CNBC

Despite its recent price whipsaw, bitcoin has gained legitimacy with investors and is here to stay, according to Spencer Bogart, a partner and head of research at Blockchain Capital.

FAO: And this is exactly why top Wall Street players are jumping the bandwagon…like Goldmans and Morgan Stanley (read below)…not to mention major brokerage houses, prop traders etc. “The Cryptoverse” is officially BOOMING!

Now Goldman Wants In On Cryptocurrencies And Blockchain

Ciara Linnane – MarketWatch

Goldman Sachs is aiming to become part of the cryptocurrency trading industry after receiving requests from its clients to facilitate clearing.

Morgan Stanley Joins Goldman Sachs in Clearing Bitcoin Futures

Hugh Son – Bloomberg

Morgan Stanley has been clearing Bitcoin futures contracts for big institutional clients and convenes a regular meeting of executives to consider how else to engage with cryptocurrencies, Chief Financial Officer Jonathan Pruzan said.

FAO: Guess who’s missing in this picture? Is it A. JPMorgan B. Jamie Dimon C. Both ? No wonder there are voices saying that the cryptoverse will grow to (at least) 1 trillion in 2018…Let’s admit it, this train has already left the station…

Bitcoin Bull Tom Lee Goes Hyperbolic On Latest Price Forecast

Lily Katz – Bloomberg (subscription)

Lee expects the price of one Bitcoin will surge to $125,000 by 2022. That’s 400% higher than his forecast from October, when he said the top digital token may reach $25,000 over the same period.

DNT: Now, That’s what I call an optimistic view…And Mr. Lee is not the only one. Check our FREE ARCHIVE for more predictions about BTC.

Virtual Currency Meets Finance In Glitzy Swiss Resort

Brenna Hughes Neghaiwi – Reuters

More than a dozen billionaires flocked to the Swiss ski resort of St. Moritz to meet up with blockchain entrepreneurs, fund managers and government officials to discuss investing into the burgeoning cryptocurrency scene. The meeting came amid one of the most volatile weeks for flagship virtual currency bitcoin, which at one stage had halved in value from its record high of $20,000.

FAO: I am sure this week’s market crash & rebound raised some icy eyelashes in St. Moritz…

As Bitcoin Sinks, Crypto Bros Party Hard On A Blockchain Cruise

Blake Schmidt – Bloomberg (subscription)

When 600 cryptocurrency enthusiasts set sail from Singapore on for their second annual Blockchain Cruise, the price of Bitcoin was hovering comfortably above $13,500. By the time their 1,020-foot-long ship pulled into Thailand for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, Bitcoin had cratered to $10,000.

FAO: I am a bit amused by this discrepancy. While more than “a dozen billionaires” were skiing in St. Moritz while trying to get aware of the “crypto-miracle”, these “crypto bros” were partyyyyying hard on a boat in Thailand…and, I presume (let’s face it, it’s a good scenario, at least), by the time they all sobered up the market already rebounded… LOL.

Co-Founder Of $100 Million Crypto Hedge Fund, Grant Hummer: ‘I’ll Lose A Million Dollars In A Day And I’m Like, OK’

Kathleen Elkins – CNBC

San Francisco-based millennial Grant Hummer has made a small fortune off cryptocurrency, and he’s angling to turn that into an even larger one.

DNT: A kind of life in a crazy roller coaster: when you got into it, you have to be prepared for losing too…

Bitcoin Could Be Here For 100 Years But It’s More Likely To ‘Totally Collapse,’ Nobel Laureate Robert Shiller Says

Arjun Kharpal – CNBC

Bitcoin will likely “totally collapse,” Nobel Prize-winning economist Robert Shiller said, adding that it reminds him of “tulip mania” centuries ago in the Netherlands.

DNT: Is it just me, or we’ve been through this before? We still have tulip bulbs and we can buy and sell them!

Deals, Investments & M&As

What The US Can Learn From Sweden About How To Launch A Bitcoin Fund

Lawrence Carrel – CNBC

SEC Says Bitcoin Funds Raise ‘Investor Protection Issues’

Trevor Hunnicutt & Kanishka Singh – Reuters

The U.S. securities regulator raised alarm about the safety of bitcoin-themed investments, telling the fund industry they want answers to their concerns before endorsing more than a dozen proposed products based on cryptocurrencies.

This Singapore Hedge Fund Unit Is Raising Money For A Crypto Arbitrage Fund

Yoolim Lee – Bloomberg (subscription)

As Bitcoin continues its wild ride, a Singapore hedge fund unit is raising $10 million for a cryptocurrency arbitrage fund to trade off price movements.Kit Trading, a unit of Vulpes Investment Management, said the fund is on track to close early next month.

Shell’s Trading Arm Bags Stake In London-Based Blockchain Start-Up

Gaurav Sharma – Forbes

Oil giant Royal Dutch Shell’s trading arm Shell Trading International made a significant move into blockchain development by bagging a minority stake in London, U.K.-based start-up Applied Blockchain.

Cryptocurrencies

Venezuelan Officials Visit Qatar To Pitch Cryptocurrency

Patricia Laya & Ben Bartenstein – Bloomberg 

A delegation from Venezuela’s government is in Qatar to pitch officials there on its soon-to-be-issued cryptocurrency. The Venezuelan group led by crypto superintendent Carlos Vargas is currently negotiating discounts on the digital token to lure Qatar as an initial investor.

FAO: That’s a smart & surprising move…

Exchanges & Trading Venues

Blockchain Cryptocurrency Wallet Launches Bitcoin Buy And Sell In The US

Arjun Kharpal – CNBC

Blockchain, one of the biggest cryptocurrency wallets in the world, launched a service to buy and sell digital coins in the U.S., in a challenge to Coinbase. The U.K.-headquartered company already allows its British customers to buy and sell bitcoin via its service, and is now launching the function in one of the biggest cryptocurrency markets in the world.

FAO: Competition! Good move for Blockchain. Best timing also, considering Coinbase’s recent glitches.

Vendors

Bitcoin and Ethereum Have a Hidden Power Structure, and It’s Just Been Revealed

Mike Orcutt – Technology Review

Close examination reveals how power is being consolidated across their networks.

DNT: For crypto enthusiasts this story is a must-read mainly because it’s raising a delicate subject: how decentralized altcoins networks actually function?

How Ethereum Blockchain Technology Will Revolutionize Digital Asset Value

Andrew Keys – International Business Times

DNT: A good story about the revolutionary concept of tokenization and his roles in our digital society.

BitPeople

Coinbase Acqui-Hires Memo.AI Technical Team Management Tool

Lucas Matney – TechCrunch

Coinbase  has announced that it’s bringing on the engineering team from Memo.AI, a two-year-old startup that built a Slackbot for helping technical teams manage notes and instructions.

DNT: This comes after Memo AI announced that it will shut down its service in March, as we are informed.

Latest Developments & Agreements

Blockchain Eyed for Mortgage Bundling That Caused 2008 Crisis

Matthew Leising – Bloomberg

A group of big financial institutions wants to use the blockchain to help resurrect the packaging of home mortgages into securities, a business that almost destroyed the global banking system in 2008. Credit Suisse, U.S. Bancorp, Wells Fargo & Co. and Western Asset Management said that they successfully tested the distributed ledger technology as a way to make it easier to track securitized home loans.

Regulation

France, Germany To Make Joint Bitcoin Regulation Proposal At G20 Summit

Reuters Staff – Reuters

Swiss Task Force To Look Into Blockchain Oversight

Reuters Staff – Reuters

Bitcoin Is ‘Something Regulators Need To Deal With But Not Ban,’ Says Former FDIC Chair, Sheila Bair

Kellie Ell – CNBC

Head Of Sberbank  Herman Gref Urges Not To Ban Cryptocurrencies

TASS

FAO: Looks like the entire world is eyeing crypto regulation.

Global Markets Watchdog Issues Warning On ICOs

Reuters Staff – Reuters

ICOs are highly speculative and raise investor protection concerns, global securities regulatory body IOSCO said.

Justice Ministry Official Shim Jae-chul, Depicts Crypto Coin Founders As Scammers

Son Ji-hyoung – Korea Herald

A high-ranking Ministry of Justice official described cryptocurrency founders as scammers and insisted that any purchase of encrypted coins in Korea translates into an outflow of cash.

Analysis

What 12 Major Analysts From Banks Like Goldman, JPMorgan, And Morgan Stanley Think Of Bitcoin

Will Martin – Business Insider

A bloodbath gripped the crypto markets with virtually every single major cryptocurrency taking significant losses, but huge amounts of excitement remains about the space from all corners of society.

Digital Currency Plunge May Be Healthy For Cryptocurrency Market

Evelyn Cheng – CNBC

The cryptocurrency market rout may be the beginning of a needed washout that digital currency enthusiasts have been waiting for.

Saxo Bank’s Quarterly Outlook For Q1 2018

SAXO BANK: “Cryptocurrencies are behaving similarly to the dot-com stocks of the late 1990s”

Other news

Bitcoin Use Under Scrutiny In Indonesian Island Of Bali

Tabita Diela &  Nyimas Laula – Reuters

Indonesian authorities are investigating the use of bitcoin in the holiday island of Bali, amid warnings by the central bank in Southeast Asia’s biggest economy over the risks posed by virtual currencies, an official said.

FAO: Do note that a large expat community lives in Bali.

Life Goes On For Indonesian Bitcoin Traders Despite Stricter Rules

Borneo Bulletin

The 30-square-metre office space of PT Bitcoin Indonesia in Jakarta was packed on with a number of customers depositing their money to engage in virtual currency trading. Others, meanwhile, were having intense discussions with customer service staff about how they could open an account on Bitcoin.co.id and cash out their virtual currencies.

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News