Blockchain Daily News – Edition 17, 26.07.2017
July 26, 2017
Blockchain Daily News – Edition 19, 28.07.2017
July 28, 2017

Blockchain Daily News – Edition 18, 27.07.2017

Blockchain Daily News

by Florin Oprea

Edition 18, 27.07.2017

OMGSection!?!!

Feds: Jobless Montco Man Is No Bit Player In $50M Bitcoin Theft

Jeremy Roebuck – The Philadelphia Inquirer

Depending on whom you believe, Ted Price of Hatfield is either one of the most audacious cybercriminals to hit the internet in almost a decade or a drug-addled fabulist with delusions of grandeur.

FAO: Makes reference to the topic of the other days #OMGSection!?!!

Greece detains Russian Alexander Vinnik for bitcoin ‘fraud’ – Reuters UK

Reuters

A Russian arrested in Greece on suspicion of running a money laundering operation through a bitcoin platform is 38 year old Alexander Vinnik, police sources said on Wednesday.

FAO: “was thought to have used bitcoin to launder ‘at least’ $4 BILLION”…One thing gets clearer by the day: #OMGSection!?!! has all the chances to become a daily section of BDN.

‘Sophisticated’ Ethereum Hack Steals $8mn Worth Of Cryptocurrency

Russia Today

Hackers struck the Ethereum platform twice in consecutive weeks – this time stealing more than $8 million worth of cryptocurrency in the second ICO heist.

FAO: Veritaseum got hit! Only a week after CoinDash ICO heist. It partly explains SEC’s announcement:

Deals, Investments & M&As

SEC Says It Will Patrol Red-Hot Virtual Coin Offerings

Paul Vigna, Dave Michaels – The Wall Street Journal (subscription)

S.E.C. Issues Warning on Initial Coin Offerings

Nathaniel Popper – The New York Times

SEC Says ICO May Be Subject To Securities Law

Jessica Dye – Financial Times (subscription)

The SEC declared that offers and sales of digital assets by “virtual” organisations — sometimes known as initial coin offerings, or ICOs, or token sales — could be deemed securities and subject to federal regulation

FAO: We kept multiple sources. Pick your choice. A few things: 1. The SEC joining the “cryptoverse” was a matter of “when” not “if” 2. The “cryptoverse” is expanding (we already agreed), thus the SEC is aiming to get its piece of the pie, and a lot of other “participants” will join 3. Considering the latest heists we can pertinently consider that these markets and their participants need better protection and surveillance. Can the SEC add its contribution? I can continue but I prefer to let you add your contribution to this nascent debate. Send us your thoughts – contact us and we will publish your opinion if we consider it pertinent.

Cryptocurrency Exchanges Could Be Subject To SEC Regulation, Too

Alexandra Scaggs – Alphaville.FT (subscription)

Time for tech utopians to start studying up on market structure.

FAO: Ahem…indeed.

US Cryptocurrency Crackdown Could Boost Capital Raising In Europe

Yolanda Bobeldijk – Financial News

European capital raisings in cryptocurrencies could surge after the US financial watchdog said it would crack down on the unregulated practice, dubbed by some as ‘the Wild West’.

FAO: I tried to find a more plastic way to express myself, and I couldn’t find anything more appealing than: “DOOH!”

Sequoia And Andreessen Horowitz Are Secretly Backing This Cryptocurrency Hedge Fund

Jen Wieczner – Fortune

It’s a hedge fund savvy enough to have scooped up Bitcoin when it was free. One of its founders is the well-known CEO of AngelList, Naval Ravikant. It’s backed by a roster of Silicon Valley’s top venture capital firms, and boasts returns of more than 500%. And you’ve probably never heard of it.

FAO: Well in fact I did hear about it! MetaStable Capital is one of the first hedge funds oriented strictly to crypto assets. It was launched in September 2014. There are at least 15 “crypto assets” oriented hedge funds globally. It strengthens our belief that this investment universe is getting bigger and bigger.  

$25 Million Cryptocurrency Fund Launches To Capitalize On The “Internet of the Future”

Coindesk

Since the start of 2017, the total market cap of cryptocurrency has grown by more than sevenfold to over $100 billion USD, with coins like Ethereum rising in price more than 5,100 percent.

Cryptocurrencies

There’s A Strange New Twist In Bitcoin’s “Civil War”- And A Way To Bet On The Outcome

Joon Ian Wong – Quartz

Some Bitcoin Backers Are Defecting To Create A Rival Currency

Nathaniel Popper – CNBC

A group of investors and entrepreneurs, most of them based in Asia, have announced a plan to create what they are calling Bitcoin Cash

DNT:..I guess the business is getting tougher. But we all know that competition is a progress factor.

FAO: Grab a seat and your popcorn! This is epic!

Why November Will Be The Real Test For Bitcoin

Laura Shin – Forbes

Bitcoin’s three-year long civil war may finally soon come to an end — but whether that will be a peaceful ending or a bitter breakup remains to be seen.

Exchanges & Trading Venues

As Japan Bitcoin Exchanges Cancel Shutdowns, Poloniex Leaves All Options Open

William Suberg – The Cointelegraph

The cryptocurrency exchange Poloniex has said it “cannot commit to supporting any specific Blockchain” in the event of a Bitcoin split.In an announcement to traders outlining its stance on next week’s decisive moment for Bitcoin, Poloniex said it would leave all options open.

FAO: Bitcoin epic battle preparations.

This Australian Bitcoin Exchange Startup Just Raised $815,000 To Expand Globally And Add Ethereum To Its Platform

Tony Yoo – Business Insider Australia

An Australian Bitcoin trading startup has secured $815,000 in a series A round it says was oversubscribed by double the original target amount.

Melbourne-based Bitcoin.com.au that allows everyday Australians to buy and sell Bitcoins — including the ability to have cash handed over at more than 1,200 physical locations including Commonwealth Bank and Westpac branches, and selected newsagents.

Bitpay Wallet Adds Coinbase And Glidera Integration To Allow Users Buying Bitcoin In-App

Tatsiana Yablonskaya – Coinspeaker

The move means BitPay wallet users can now fill up their wallet balances directly from in-app exchange connections.

Vendors

World’s Largest Bitcoin Tumbling Service Announces Sudden Shutdown

Alexander Geralis – The Cointelegraph

The largest mixing service has decided to shut down operations, citing the future of Bitcoin as a catalyst. While no links have been made official, users question possible pressure and dark market shops as a possible cause.

Regulation

‘Not a Surprise’: Blockchain Industry Saw SEC ICO Action Coming

Stan Higgins – CoinDesk

The SEC said that some initial coin offerings (ICOs) may qualify as securities sales – a move that while expansive in impact, wasn’t that surprising to legal and regulatory observers in the space.

The SEC Ruling Should Be Positive, Not Negative For Bitcoin, Ethereum And Litecoin

Panos Mourdoukouta –  Forbes

Digital currency traders have it wrong. The SEC ruling that treats digital currencies as common investments is positive, not negative for cryptocurrencies, at least for now

FAO: Reactions after the SEC’s announcement.

Startups, Accelerators & Hubs

This Chinese Company Is Trying To Build The World’s Leading Blockchain Platform

Sara Hsu – Forbes

China is increasingly becoming a fintech Blockchain innovator, competing with other Blockchain platforms the world over for better security and easier usability.

Metaverse is the first public Blockchain in China.

Other news

We Spoke To The Vigilante Hackers Who Stole $85 Million In Ether To Save It

Jack Morse – Mashable

Deciding to steal $85 million worth of cryptocurrency isn’t something to take lightly.

For the members of the White Hat Group, however, it seemed to be the only move left. On July 19, the loose collection of hackers and cryptocurrency experts were alerted to the theft of $32 million worth of ether — the so-called money unit of Ethereum — and realized that if they didn’t act quickly the losses would spread. An hour and fifteen minutes later they started hacking.

FAO: Sounds like a movie screenplay.

DNT: Yeah, a movie in which the bad guys turn to be, in fact, the good ones.  

How Bitcoin Is Infiltrating The $60bn Global Art Market

Matthew Wall – BBC

At art gallery in London’s famous Cork Street, the clientele will have the opportunity to pay using Bitcoin, the digital cryptocurrency underpinned by blockchain technology.

FAO: Interesting read!

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News