Blockchain Daily News – Edition 142, 05.02.2018
February 5, 2018
Blockchain Daily News – Edition 144, 07.02.2018
February 7, 2018

Blockchain Daily News – Edition 143, 06.02.2018

Blockchain Daily News

by Florin Oprea

Edition 143, 06.02.2018

Fans’ Section

Say Hello To Buttcoin And The Community Celebrating Bitcoin’s Fall

Jack  Morse – Mashable

Bitcoin may be down, but oh man Buttcoin has never been better. As cryptocurrency investors around the world bemoan the loss of their life savings, a contrarian community that prefers to see the humor in the recent correction has formed online under the banner of Buttcoin. And they’re loving every minute of this tailspin.  

FAO: Thought of sharing this Mashable piece on Buttcoin. It’s a crazy world, I know, but the thing is prices of various exchange traded assets were “crazy high” too, for too long maybe, and no, I am not talking about digital assets prices only, I’m talking about stocks too!

FAO: Despite hosting humour in our lives, today’s headlines unfortunately make a pretty sad picture – we might experience a global coordinated action against the “cryptoverse”. Read below! The same day the Dow suffers biggest one-day points fall, we have the Head of BIS talking about cryptocurrencies that could threaten financial stability, China to block all websites related crypto trading, India to bar cryptocurrencies from its payments system, and banks and payment companies acting against cryptos…It’s a war out there I’m afraid – banks are starting to feel the heat and they act…We are living some interesting times….

Cryptocurrencies Could Threaten Financial Stability, Says Head Of BIS

Tom Fairless – The Wall Street Journal

Central Banks Must Act Against “Ponzi Scheme” Cryptocurrencies – Agustin Carstens, BIS Head

Reuters Staff – Reuters

Central banks must prepare to act against cryptocurrencies to ensure they do not become entrenched and undermine trust in central banks, Agustin Carstens, the head of the Bank for International Settlements said.

China To Pull The Plug On Cryptocurrency, Will Block All Websites Related To Virtual Currency Trading

Kukil Bora – International Business Times

China Prepares Fresh ICO Rules, Eyes Overseas Platforms: China Daily

Reuters Staff – Reuters

China is preparing fresh regulations to further restrict ICOs, especially via overseas platforms, the China Daily newspaper reported citing a source close to the matter.

India To Bar Cryptocurrencies From Its Payments System: Finance Ministry Official, S.C. Garg

Manoj Kumar – Reuters

India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in “crypto assets,” S.C. Garg, finance ministry official said.

VISA And Mastercard Make It Harder To Buy Bitcoin And Other Cryptocurrencies

Justin Mauldin – TechCrunch

Banks In Britain And U.S. Ban Bitcoin Buying With Credit Cards

Lawrence White & Emma Rumney – Reuters

Virgin Money Bans Cryptocurrency Purchases On Its Credit Cards

Reuters Staff – Reuters

Britain’s Virgin Money has banned purchases of cryptocurrencies on its credit cards, a spokesman said,  after similar moves by Lloyds Banking and several U.S. investment banks.

FAO: Not a pretty bad action after all, it depends on how you see it. Clearly banks don’t want you to mess around with your credit line (and credit score, in case of a default) by trading an asset you don’t know much about. It’s a measure banks can take for protecting their capital and clients, but, at the same time, for reducing the influence of the “cryptoverse”.

Bitcoin Breaks Below $6,000 As Cryptocurrency Exodus Accelerates

Eric Lam – Bloomberg (subscription)

Bitcoin Miners Fried In Game of Chicken

Tim Culpan – Bloomberg (subscription)

Bitcoin miners who’ve decided to stay in the game amid plunging prices may soon find that the well has run dry. As prices plunge, most are losing money. They’re all headed for the cliff unless some pull out.

This European Royal Family Might Invest In Cryptocurrencies

David Reid – CNBC

The Crown Prince of Liechtenstein has told CNBC that blockchain and cryptocurrencies like bitcoin could be one way to help his family restore its wealth.

FAO: Well, this might be regarded as a pretty good moment, don’t you think?

Deals & Investments

Two UK Investors, Doug Barrowman & Michelle Mone, Eye $80 Million In Token Sale For VC Platform

Gertrude Chavez-Dreyfuss – Reuters

Scottish entrepreneurs Doug Barrowman and Michelle Mone are seeking to raise about $80 million in a token offering next month to finance an investment platform that they say should open up venture capital investing to a wider audience.

FAO: An little piece of advice for Doug and Michelle: better succeed it before regulation hits you….and, even if that happens, better be prepared when it will hit you.

Startup Raises $20 Million To Build ‘YouTube On The Blockchain’

Annaliese Milano  – CoinDesk

Silicon Valley startup Lino is preparing to take on YouTube with a decentralized, collectively-owned video content distribution system that purports to cut out the middleman to more fairly compensate content creators.

Crypto Insiders Not Buying What Telegram Is Selling

Bitcoinist

Telegram is kind of a big deal. Even so, many big-time cryptocurrency investors aren’t interested in the company’s record-seeking $2bn ICO.

Global Blockchain Investment Bank Is Founded In USA

Business Insider (press release)

Global Blockchain Investment Bank is officially founded and under operation in USA. As a boutique investment bank targeting the blockchain industry, GBIB is positioned as the “Goldman Sachs” and “China International Capital Corporation ” in the blockchain industry.

Cryptocurrencies

Bitcoin Could Fall Below $5,000 If This Report On A Mysterious Cryptotoken Is Right

Joon Ian Wong & John Detrixhe – Quartz

Some people think bitcoin’s spectacular price rise last year was manipulated by a cryptotoken called Tether that’s supposed to be pegged to the US dollar. Now, an anonymous report answers the question: What would bitcoin be worth without Tether? The answer: around $4,500, based on the current bitcoin price of about $7,600.

FAO: Bitcoin is $6581 on my screen right now (at time of writing), so I wonder where it will sit if…

Exchanges & Trading Venues

North Korea Suspected Of Hatching Coincheck Heist

Sohee Kim – Bloomberg (subscription)

South Korea’s spy agency has begun investigating the possibility that North Korean hackers orchestrated the theft of about $500 million worth of digital coins from Coincheck said a lawmaker who attended a meeting with the head of the intelligence service.

US$1 Billion Down, Why Is Japan Still In Love With Bitcoin?

Gavin Blair – This Week In Asia

The two largest cryptocurrency heists in the world with losses totalling almost a billion dollars at exchanges in Tokyo, and a cultural tendency towards conservatism, seem to have barely dampened Japan’s enthusiasm for bitcoin and other cryptocurrencies.

DNT: Good question. Even though Japanese people are seen as conservatives, all their actions regarding cryptos prove they are seeing a huge potential in this. And, unlike China, Japan believes in regulation without destroying innovation, not in banning.

Texas Takes The Lead On States’ Cryptocurrency Crackdowns

Evelyn Chang – CNBC

Texas is becoming one of the most active regulators of cryptocurrencies.The state’s securities board issued its fourth emergency cease-and-desist order in just over a month on a cryptocurrency company.

Vendors

Canadian Blockchain Company Expands Into Wyoming

San Francisco Chronicle

Canadian blockchain company BlockCrushr Labs has opened its first Wyoming office.

BlockCrushr Labs develops and commercializes the new blockchain technology.

BitPeople

Bitcoin Billionaires Want a Crypto Utopia In the Sun

Matt Levine – Bloomberg (subscription)

Some newly wealthy blockchain investors aim to reinvent Puerto Rico. They don’t know it, but they’re more lucky than good.

Via Crowdfund Insider – Marco Santori Departs Cooley to Join Blockchain as President & Chief Legal Officer

Regulation

Senate To Spotlight VIrtual Currencies As Bitcoin Plunges

Michelle Price & Pete Schroeder – Reuters

U.S. Regulators To Back More Oversight Of Virtual Currencies

Michelle Price & Pete Schroeder – Reuters

Digital currencies such as bitcoin demand increased oversight and may require a new federal regulatory framework, the top U.S. markets regulators will tell lawmakers at a congressional hearing.

Christopher Giancarlo, chairman of CFTC, and Jay Clayton, chairman of the SEC, will provide testimony to the Senate Banking Committee amid growing global concerns over the risks virtual currencies pose to investors and the financial system.

FAO: Regulation…can’t live with it, can’t live without it…

Analysis

After Bitcoin Craze, Swedish Investors Succumb To Reefer Madness

Hanna Hoikkala – Bloomberg (subscription)

A Swedish January is dark, cold and snowy, but in Stockholm cannabis stocks were lighting up the screens of investors.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News