Blockchain Daily News – Edition 183, 03.04.2018
April 3, 2018
Blockchain Daily News – Edition 185, 05.04.2018
April 5, 2018

Blockchain Daily News – Edition 184, 04.04.2018

Fans’ Section

Don’t Get Fooled By Alibabacoin

Garrett Baldwin – Money Morning

It looks like one of the newest strategies to raise money from an ICO is to name your coin after an Internet giant. According to CoinDesk.com, the Alibabacoin Foundation wants to raise $3.5 million for its ICO, and it appears it is in the second stage of its coin offering. However, Alibaba says it has nothing to do with Alibabacoin.

FAO: More about the topic we mentioned yesterday.

Future Stars?

Have an interesting project/company looking for more visibility? Why don’t you send us more details, and after our review your project might get listed it in this section! Contact us HERE!

Exchanges & Trading Venues

Coinbase Snags Christine Sandler, A Former NYSE Exec, To Push Crypto To Wall Street

Frank Chaparro – Business Insider 

Coinbase has snagged another former New York Stock Exchange executive as it tries to lure more business from Wall Street. Christine Sandler, former global head of sales for NYSE Euronext, has joined Coinbase as its director of institutional sales, people familiar with the situation told Business Insider.

FAO: Coinbase did it again. The company recently hired a top dealmaker from LinkedIn, Emilie Choi, and was rumoured to be “in talks” to buy bitcoin startup Earn.com. It is rapidly growing its Wall Street pro-team to stay ahead of the curve. Interesting prospects on the horizon. The “cryptoverse”, although in its infancy, is already experiencing a consolidation process. This will be a fine year in the crypto world.

Japan’s Monex Gets A Taste Of How Volatile Crypto Can Be

Livia Yap – Bloomberg (subscription)

When the Japanese online retail broker said it’s mulling the acquisition of Coincheck , its shares surged by a record 23%to a four-year high. Then, the stock declined as much as 8%. More than 1.5 billion Monex shares changed hands in two days, as the daily volume of each session was more than 2,000 times the 30-day average.

DNT: We reported yesterday, Deals and Investments section, the intention of Japanese online broker Monex to buy Coincheck. The effects of the broker’s announcement were immediate. But, I can bet that Monex was fully aware of that.

Crypto Exchanges Charge Millions To List Tokens, Report Says

Camila Russo –  Bloomberg (subscription) 

Digital token sales are letting young startups raise funds fast, but avoiding the world of venture capital and Wall Street’s other established channels isn’t free: cryptocurrency trading platforms may be charging 10 times more to list tokens than what traditional exchanges demand for securities, according to a report (check it here) by Autonomous Research.

FAO: “Just get a bag and drop a dream in it, and you’ll be surprised what happens.” Charles Nelson Reilly

OKEx Denies Manipulation Claims After Bitcoin Futures Rollback

Nikhilesh De – CoinDesk

OKEx has pushed back against allegations that it manipulated its bitcoin futures market last week. OKEx rolled back futures trades due to what it called an “irregular” sell-off. At the time, futures prices sharply diverged from the underlying price of bitcoin, leading to a series of liquidations and the eventual rollback, which was initiated that afternoon. At one point, the futures price dropped to as low as $4,755 after an earlier fall to around $5,200.

Cryptocurrencies

Crypto Rating Sites Are Already Calling Venezuela’s Petro A Scam

Patricia Laya – Bloomberg (subscription)

Two weeks after Venezuela’s cryptocurrency scheduled sale date, many aspects of the Petro remain a mystery and ICO rating sites are already calling it a fraud.

DNT: Let’s not jump to conclusions yet. It’s the final countdown. It remains to be seen.

Not Sure Utility Tokens Make Sense, Says Blockchain Capital’s Jimmy Song

Omri Barzilay – Forbes

“For utility tokens it’s something that I’m not sure I really have seen a good use case where it’s actually worked”, Jimmy Song said in a Forbes  interview.

DNT: We recommend this interview with Jimmy Song, one of the most well known members of the Bitcoin community. You can take a look at his career – here.

Vendors

Secretive Chinese Bitcoin Mining Company Just Revealed A New Chip That Could Hurt AMD, Nvidia

Tae Kim – CNBC 

One of Wall Street’s biggest worries for AMD and Nvidia just became real. China-based Bitmain revealed its specialized digital currency mining system for ethereum, which analysts have predicted could hurt demand for graphics cards.

FAO: Awesome! We love competition and its effects – progress is one of them.

BitPeople

Meet Federico Tenga: The Guy Who Teaches North Koreans About Bitcoin

Express VPN

Despite being the most hermetic country on Earth, North Korea is certainly no stranger to cyberspace—in both its uses and abuses.

Pyongyang University of Science and Technology invited Federico Tenga, an avid Bitcoiner, and co-founder of Chainside, to teach their Computer Science and Finance students about Bitcoin.

DNT: This interview undercovers the details of the course that Federico Tenga taught in Pyongyang.

FAO: We received this piece – it might help us get a glimpse of how “cryptoverse” looks like in North Korea.  

Regulation

Liechtenstein To Avoid ‘Excessive’ Blockchain Regulation: Prime Minister

Annaliese Milano  – CoinDesk

Blockchain technology is driving economic transformation and Liechtenstein wants to be in the front seat, according to the country’s prime minister.As such, the Liechtenstein government has set out to draw up “sensible,” comprehensive blockchain legislation to create a legal environment that’s conducive to innovation and light on regulation.

DNT: Plenty of activity in the tiny Principality of Liechtenstein. In March (Regulation section) Liechtenstein’s Prime Minister, Adrian Hasler, announced that the government will introduce new legislation to regulate Blockchain business models and underlying Blockchain systems. More over, Alois, the Crown Prince of Liechtenstein said that blockchain and cryptocurrencies like bitcoin could be one way to help his family restore its wealth – details hereAccelerators & Hubs section.

FAO: A new crypto-friendly zone on the world map? Only a 1.5h drive from Switzerland’s Zug (home of the Crypto Valley).

Korea’s Crypto Exchanges Pledge Market Cleanup

Wolfie Zhao  – CoinDesk

“It was a fantastic year in 2017.” As stated by Junhaeng Lee, co-founder and CEO of Seoul-based crypto platform Gopax, that’s one simple but accurate summary of the last year for cryptocurrency exchanges in South Korea. Indeed, since earlier last year, crypto trading volume in the country has surged to a point where exchanges from South Korea have topped their global peers in terms of 24-hour trading volume.

DNT: But now, 2018 brings another perspective. Amid the ICOs tighter regulations and the increased surveillance of watchdogs, the situation is different and it looks like the SK crypto market is facing a strong correction. According to the story, the total capitalization of all cryptos plunged below $300B in three months in 2018 from its $800B all-time high recorded at the end of last year.

Accelerators & Hubs

Now India Is More Interested In Ethereum Than Bitcoin

Ananya Bhattacharya – Quartz 

Bitcoin is not king in India. Ethereum topped bitcoin as the most searched-for cryptocurrency in India over the past five months, commanding a 34.4% share of currency searches overall versus bitcoin’s 29.9%, free internet provider Jana found in its latest Mobile Majority report. The next most searched-for currency was BuyUCoin (NEM) with a 21.2% share, and the rest captured 5% or less.

FAO: Useful stats from the subcontinent.

Analysis

Blockchain 2.0

Finextra

Credit Suisse researchers analyse the market implications of blockchain technology in light of the bitcoin boom.

Other news

Longfin Collapse Puts Focus On Lax IPO Rules

Jean Eaglesham & Aaron Back – The Wall Street Journal 

Shares Of Cryptocurrency Play Longfin Drop 30% After Disclosing SEC Investigation

Evelyn Cheng – CNBC 

The U.S. SEC is investigating trading activity in shares of Longfin, a tiny stock that surged astronomically in December after the firm announced a cryptocurrency-related acquisition, the company disclosed.

Opinion

Edward Snowden Calls Zcash The “Most Interesting” Cryptocurrency

Money Morning

Edward Snowden, who is most famous for exposing the U.S. National Security Agency’s massive surveillance on U.S. citizens in 2013, believes Zcash is the most interesting cryptocurrency right now.

Brainard Says Valuations Elevated, Bitcoin Volatility ‘Extreme’

Craig Torres & Jeanna Smialek – Bloomberg (subscription) 

Asset valuations are stretched across a broad set of financial markets and some cryptocurrencies have witnessed “extreme volatility,” Federal Reserve Governor Lael Brainard said, though overall risks to the financial system are still low.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News