Blockchain Daily News – Edition 140, 01.02.2018
February 1, 2018
Blockchain Daily News – Edition 142, 05.02.2018
February 5, 2018

Blockchain Daily News – Edition 141, 02.02.2018

Blockchain Daily News

by Florin Oprea

Edition 141, 02.02.2018

Fans’ Section

Over $100 Billion Wiped Off Global Cryptocurrency Market In 24 hours

Arjun Kharpal – CNBC

Budget 2018: Arun Jaitley Does Talk About Bitcoins But The Confusion Remains

Kritika Banerjee – India Today

All those who were hoping that Finance Minister will speak on bitcoins and other forms of cryptocurrency in his Union Budget 2018 speech, Arun Jaitley did not disappoint. But the confusion and ambivalence regarding bitcoins remain. Sticking to the government’s earlier stand, Finance Minister Arun Jaitley said that cryptocurrency is not considered “legal tender”.

Bitcoin Drops Below $8,500 As Cryptocurrency Misery Continues

Eric Lam – Bloomberg (subscription)

Bitcoin’s Brutal Week Is Even Worse in South Korea

Kyungji Cho – Bloomberg

Bitcoin Slides As Facebook Ad Ban, India Clampdown Unnerve Investors

Tommy Wilkes, Jemima Kelly – Reuters

Bitcoin, the world’s largest cryptocurrency, skidded 11% on Thursday to its lowest since November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market frightened investors.

FAO: You really have to admit it, the “cryptoverse” is a lot more fun than anything else in the world right now. Here you have action, statements, opinions, rumours, predictions, friends, enemies, and a, like a friend of mine use to say, it’s “an Adrenaline Junkies Heaven”.

Deals & Investments

The Big ICO Swindle

Joi Ito – Wired

Many cryptocurrency speculators are banking on the theory that someone dumber than them will buy their tokens for more than they paid. That’s a pretty good bet … until it isn’t.

FAO: C’mon, so what if the market is down.. It’s Friday, loosen up…

Cryptocurrencies

Worries Grow That the Price of Bitcoin Is Being Propped Up

Nathaniel Popper – The New York Times

A growing number of virtual currency investors are worried that the prices of Bitcoin and other digital tokens have been artificially propped up by Bitfinex, which has a checkered history of hacks and opaque business practices.

FAO: Want another meme here?

Facebook’s Cryptocurrency Ban Fuels Rumours It Will Launch Own Rival To Bitcoin

Margi Murphy & Alex Iszatt – The Telegraph

Facebook’s ban on cryptocurrency adverts has added fuel to rumours that the social network may take a foray into the world of digital coins.

FAO: No! Really?

Wall Street Is Raining On The Red-Hot Blockchain ETF Parade

Frank Chaparro – Business Insider

Two blockchain ETFs – Reality Shares and Amplify ETFs – that began trading this month are off to a scorching-hot start, but some market watchers are raining on the parade.

Exchanges & Trading Venues

Japan’s Regulator Urged Coincheck To Fix Flaws Before $530 Million Cyber Theft

Taiga Uranaka – Reuters

Several Countries Investigating Japanese Virtual Coin Heist: Cryptocurrency Council Member

Reuters Staff – Reuters

Authorities in several countries are investigating the  $530 million heist involving the NEM cryptocurrency, Takao Asayama, member of the foundation behind the digital coin said.

FAO: “Cryptoverse” security – more regulation needed. Please let us know if you think otherwise.

What The Coincheck Hack Means For The Future Of Blockchain Security

Mike Orcutt – Technology Review

The plunder of more than $500 million worth of digital coins from the Japanese cryptocurrency exchange Coincheck has added to a growing perception that cryptocurrencies are particularly vulnerable to hackers.

Coinbase Warns That Banks Now Process Credit-Card Crypto Purchases As ‘Cash Advances’

Mark Decambre – Marketwatch

The No. 1 cryptocurrency exchange told customers that payments for digital assets on its platform are being processed as “cash advances,” which could result in additional fees.

Vendors

China’s Crypto Crackdown Sends Miners Scurrying To Chilly Canada

Natalie Obiko Pearson & Sandrine Rastello – Bloomberg (subscription)

China’s clampdown on its crypto industry is sending miners scurrying for a new home. They’re finding one in Canada, lured by its cold climate, lots of clean, cheap power and a welcoming market for raising capital.

smartTrade Technologies to Launch Post-Trade Distributed Ledger

Victor Golovtchenko – Finance Magnates

smartTrade is the latest company to adopt blockchain technology in its quest to deliver ultimate transparency to the market. The new product which the company is developing is focused on post-trade data.

Latest Developments & Agreements

IOTA Partners With Taipei City To “Meet Its Smart City Needs”

JD Alois – Crowdfund Insider

The IOTA Foundation has announced a partnership with Taipei City designed to help the Asian capital meet its smart city needs.

Cambridge Blockchain, IHS Markit Ink KYC Partnership

Annaliese Milano – CoinDesk

A new partnership has been inked between identity startup Cambridge Blockchain and IHS Markit, the U.K.-based data analysis firm.

Regulation

European Commission Eyes Blockchain Opportunity

Karl Flinders – Computer Weekly

The EC has set up the Blockchain Observatory and Forum, which will monitor blockchain developments and ensure EU organisations are engaged in the industry.

FAO: This is definitely good news!

German President Frank-Walter Steinmeier  Warns On Cryptocurrencies

Reuters Staff – Reuters

German President Frank-Walter Steinmeier warned the financial sector that it had a responsibility to prevent speculation and the formation of trading bubbles in the cryptocurrency market.

Events

A Bitcoin Conference Rented a Miami Strip Club—and Regretted It

Lily Katz – Bloomberg (subscription)

The North American Bitcoin Conference wrapped up 10 hours of speeches by inviting 5,000 attendees to what it called a networking party.

FAO: Oh, you got to read this!

Analysis

Cybercriminals Target Booming Cryptocurrencies: Report

Gertrude Chavez-Dreyfuss – Reuters

Bitcoin’s popularity and the emergence of about 1,500 other digital coins or tokens have drawn more hackers into the red-hot cryptocurrency space, expanding opportunities for crime and fraud, cybersecurity firm Digital Shadows warned in a report.

Thailand Is Number One As World’s Malware Mining Hotspot

Suchit Leesa-Nguansuk – SCMP

Thailand has become the world’s leading hotspot for cryptocurrency mining malware, according to Palo Alto Networks, a network and enterprise security firm.

Other news

Illinois Eyes Blockchain for IDs and Public Asset Management

Wolfie Zhao   – CoinDesk

An Illinois government task force has outlined how it might apply blockchain technologies in the state’s inter-government operations. According to a report of the Illinois Blockchain Task Force to the General Assembly, the state is eyeing the use of blockchain technologies to manage state resident identification, tokenize assets and reduce entitlement fraud.

Opinion

Cryptocurrency Is An Uprising Against Today’s Flawed Financial System

Peter Guy – SCMP

As millennials come of age, cryptocurrencies like bitcoin revealed a chasm of misunderstanding between generational values.

Nobody Puts BItcoin In The Corner

Kadhim Shubber – Financial Times (subScription)

Suppose for a moment bitcoin never existed. And ethereum never existed. And the whole crazy world of cryptocurrencies never happened.

DNT: A provocative imagination exercise!

FAO: That’s all folks, have good weekend!

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News