by Florin Oprea
Thomas Wilson – Reuters
Japan’s Line Corp plans to launch a cryptocurrency exchange, a move that comes as regulators investigate such exchanges in the country after hackers stole $530 million in digital money from Coincheck in one of the world’s biggest cyber heists.
FAO: Interesting announcements everywhere in the “cryptoverse”. Don’t you think things are starting to precipitate? Looks like EVERYBODY wants to enter the “cryptoverse” these days. Line, which has 168 million monthly active users, already provides money transfer and payment services through Line Pay. Starting its own exchange was a natural step. Remember Telegram is planning to launch its own cryptocurrency backed by a massive ICO – more here. Yeah, and Facebook’s Zuckerberg also declared he plans to study encryption and the blockchain.
Reuters Staff – Reuters
Facebook said on it will ban ads promoting financial products and services tied to cryptocurrencies and ICOs. The new policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said.
DNT: Uh, oh…This comes short time after Facebook CEO Mark Zuckerberg said, at the beginning of January, (Fans Section) that Facebook will be looking into cryptocurrency in the new year.
FAO: Is Zuckerberg starting his own kind of crackdown on cryptocurrencies? Muhaha…
William Suberg – Cointelegraph
Isabelle Mateos Y Lago, chief multi-asset strategist at BlackRock has said that the company is keeping cryptocurrency under “close review” as an “interesting development.” The senior executive said that although cryptocurrency did not constitute “an investable asset” for the world’s largest money manager at present, it was actively tracking progress as it is “clearly evolving very fast.”
FAO: Remember there was a story the other day about two former BlackRock employees starting their own cryptocurrency hedge fund (among many many other crypto hedge funds that appeared last year). Anyway, Y Lago’s statement is clearly different than her own boss’ (Larry Fink) opinion – he said Bitcoin was an index of money laundering – more here.
Gertrude Chavez-Dreyfuss & Susan Heavey – Reuters
The U.S. SEC has halted what it alleged was a fraudulent ICO by Dallas-based AriseBank to raise $1 billion for its “AriseCoin” cryptocurrency, the agency said in a statement. The SEC said it had obtained a court order to halt AriseBank’s efforts to target investors, and alleged that the entity had “falsely stated that it purchased an FDIC-insured bank” and had “allegedly omitted to disclose the criminal background of key executives.”
FAO: Regulation coming this way…there’s no doubt.
Scott Deveau & Natalie Obiko Pearson – Bloomberg (subscription)
Polychain Capital, the crypto hedge fund backed by venture firms Sequoia Capital and Andreessen Horowitz, has decided not to go public in Canada after holdings talks with bankers about an IPO.
Cromwell Schubarth – Silicon Valley Business Journal
Kleiner Perkins, Caufield & Byers, Benchmark and Sequoia Capital have each indicated they want to invest $20 million in a planned $1.2 billion offering by encrypted messaging app developer Telegram.
Eric Lam – Bloomberg (subscription)
Michelle Price & Anna Irrera – Reuters
CFTC has sent a subpoena to two of the world’s largest cryptocurrency platforms as watchdogs globally increase their scrutiny of the emerging asset class.
FAO: This happened in at the beginning of December, last year.
Paul Krugman – The New York Times
So is Bitcoin a giant bubble that will end in grief? Yes. But it’s a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology. And there’s something to be learned about the times we live in by peeling away that wrapping.
DNT: Such big words “..a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology”…Maybe a bit too big, even if BTC is in a bubble…Question: what do you make of financial markets without bubbles from time to time? 🙂 Oh, don’t have to answer this…But if you insist, tell us what you think.
A pre-sale of Venezuela’s new “petro” cryptocurrency will begin on Feb. 20, President Nicolas Maduro said, a move that the government hopes will help pull the country out of a dire economic crisis.
DNT: Check our FREE ARCHIVE for more data regarding the “petro” cryptocurrency.
Roger Aitken – Forbes
Sooner or later it had to come – cryptocurrency entering the soccer arena with its legions of supporters around the globe. Now the London Football Exchange is set to launch a cryptocurrency to power an ecosystem of “inter- related components” made up of sports, media, entertainment, finance and a foundation.
DNT: I just remembered this old song: The name of the game – football! Football (soccer) is already a big business around the world and I think this a good and natural step for creating a “ultimate sport community”.
Erich Reimer – Seeking Alpha
Nikkei Asian Review
Reuters Staff – Reuters
Jemima Kelly & Tommy Wilkes – Reuters
Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week — one of the biggest such heists ever — are trying to move the stolen “XEM” coins, the foundation behind the digital currency said.
DNT: The hack of the century for now…
FAO: We have picked a few titles regarding the “hack of the century”…to keep you updated. They say some things happen for a reason. This is one of those things…
Evelyn Cheng – CNBC
In the latest sign of tremendous interest in cryptocurrencies, more than 1 million people have joined the waitlist for Robinhood Crypto in just four days. No-fee stock trading app Robinhood announced it was rolling out commission-free trading in digital currencies bitcoin and ethereum beginning in February.
FAO: This is a message for the 1M people signing up for early access to Robinhood’s crypto trading service: “Nothing in this world is free”.
Ron Miller – TechCrunch
Hyperledger, released Hyperledger Sawtooth 1.0, its latest open source digital ledger project. Sawtooth joins its sister project, Hyperledger Fabric which reached 1.0 in July last year.
Press release here.
Arnab Shome – Finance Magnates
As the value of cryptocurrencies rises, more and more scammers are trying to dupe people. Someone faked Litecoin creator Charlie Lee’s Twitter account and launched a fraudulent scheme in which he claimed to be giving away 180 LTC. Many users reported the account, but it is still active.
Wolfie Zhao – CoinDesk
Hong Kong authorities have launched a campaign to educate the public on the risks associated with ICO and cryptocurrency investment.
South Korea began a real-name trading system for cryptocurrencies banning the use of anonymous bank accounts in transactions to prevent virtual coins from being used for money laundering and other illegal activities.The real-name trading system is also part of the government’s latest measures to curb speculative investment into virtual coins amid growing fears that a cryptocurrency bubble may be set to burst.
FAO: As previously announced…
Dahee Kim & Cynthia Kim – Reuters
South Korea’s finance minister said the government has no plans to shut down cryptocurrency trading, welcome news for investors worried that authorities might go as far as China’s tough action in blocking virtual coin platforms.
FAO: So they said “yes” to keeping the business in the country. Good call…
Steven Scheer – Reuters
Blockchain Mining said it was preparing to list its stock on Nasdaq and the Toronto Stock Exchange by July after Israel’s market regulator said it might ban companies involved in cryptocurrencies from the Tel Aviv exchange.
FAO: “When life gives you lemons, make lemonade”.
Kevin Roose – The New York Times
An eon or two ago, Eastman Kodak was a bleeding-edge technology company. It hired the smartest engineers and put them to work racking up patents, pioneering new chemical processes and building a globe-spanning camera and film business that, at its peak, employed 145,000 people.
Simon Golstein – Finance Magnates
BitConnect has been hit with another class-action lawsuit, according to Law360.com.
The complaint, filed in a Kentucky court by plaintiff Brian Paige, alleges that the company’s investment platform is actually a Ponzi scheme, and seeks an undisclosed amount in damages.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News