Blockchain Daily News – Edition 184, 04.04.2018
April 4, 2018
Blockchain Daily News – Edition 186, 10.04.2018
April 10, 2018

Blockchain Daily News – Edition 185, 05.04.2018

Fans’ Section

MailChimp’s Ban On Cryptocurrency Marketing Is Causing Collateral Damage

Sonya Mann – INC

MailChimp decided to shut down accounts that promote cryptocurrencies and ICOs. But not completely. In response to complaints from the cryptocurrency community, MailChimp tweeted, “Cryptocurrency-related information isn’t necessarily prohibited. It can be sent as long as the sender isn’t involved in the production, sale, exchange, storage, or marketing of cryptocurrencies.”

FAO: We haven’t received a notification from Mailchimp, SO FAR. But we are considering multiple options in case Blockchain Daily News email service will get shut down. “Maybe there should be a blockchain solution for that.” – I look forward to it.

DNT: Anyway, according to the company’s tweet, we shouldn’t be affected.

Bitcoin: Over $6 Trillion Served With A $10 Billion Daily Market

Bitcoinist

Bitcoin has become a $10 billion daily market in 2018, with the total sent using the cryptocurrency since 2009 adding up to a giant $6 trillion.

FAO: Bottom line: “regardless of price slumps, Bitcoin’s popularity endures.” So the above metrics should keep bitcoin haters quiet for the time being.

Deals & Investments

Canada’s HyperBlock To Buy Crypto-Currency Mining Firm For C$106 Million

Gertrude Chavez-Dreyfuss – Reuters

HyperBlock Technologies said it reached an agreement to acquire crypto-currency mining firm CryptoGlobal Corp in an all-stock deal valued at C$106 million. Some market participants said the deal is one of the larger acquisitions in the crypto-currency space, which has struggled for further momentum after sharp price gains late last year amid increased scrutiny by government regulators around the world.

FAO: A surprisingly huge $80m+ “cryptoverse shaping” deal which haven’t received a lot of media attention yet.

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

Korean Regulator Tells Crypto Exchanges To Revise User Agreements

David Floyd  – CoinDesk

A South Korean regulator has ordered 12 of the country’s cryptocurrency exchanges to revise their user agreements. In a statement the Fair Trade Commission outlined the mandate, which was directed at popular exchanges like Bithumb, Korbit and Coinone, among others.

FAO: And probably a lot of other regulators will soon send their warnings/orders/notices etc. Don’t worry – it’s for this industry’s safe after all. Let’s hope they will be able to avoid an overregulation.

Ripple Has Tried to Buy Its Way Onto Major Exchanges For Cryptocurrency

Annie Massa, Lily Katz & Matthew Leising – Bloomberg (subscription)

Ripple has a problem.

The startup controls the world’s third-largest cryptocurrency, XRP. Banks have signed onto its network and bought equity stakes in its business, which wants to rewire how money moves around the world. And yet when it comes to obtaining a coveted listing for XRP on two of the top U.S. cryptocurrency exchanges, Ripple hasn’t been able to close the deal.

FAO: Today’s must read story, clearly. Ripple might find itself trapped on the Penrose stairs…

MonetaGo, RXIL, A.TReDS, And M1xhange Launched A Blockchain Network For Financial Services

Tech Observer

The Reserve Bank of India licensed three entities to provide a more efficient venue to do this: RXIL, A.TReDS, and M1xhange. These exchanges provide competitive marketplaces for small businesses.

Cryptocurrencies

This Is The Clearest Sign Yet That The Bitcoin Bubble Has Burst

Ryan  Derousseau – Time

Many investors thought the idea of a cryptocurrency fund was dead on arrival due to stiff regulatory hurdles. But the possibility of a Bitcoin ETF just got a new breath of life — and that could be bad news for the cryptocurrency craze. The Securities and Exchange Commission has quietly begun the formal process of soliciting public opinion on whether two proposed ETFs that are seeking to track Bitcoin futures contracts should be listed on the NYSE Arca exchange.

DNT: I’ve already said it, the launch of a Bitcoin ETF is the natural and necessary step after the launch of BTC futures.

FAO: Let’s have a survey – do you think we will see Bitcoin ETF listed on a US exchange this year? Send your answers via our LINKEDIN GROUP.

Stablecoins: Scam Or Cryptocurrency Volatility Safe Haven?

Nick Chong – Bitcoinist

Stablecoins, cryptocurrencies pegged to external values outside of the cryptocurrency market, have been all the talk lately, especially in the recent market pullback. Tether, the biggest stablecoin pegged to the US dollar, has recently come under fire due to a lack of transparency.

Vendors

Foxconn To Manufacture Blockchain Phone From Sirin Labs

Olga Kharif – Bloomberg (subscription)

Foxconn Technology grew into the world’s largest electronics manufacturer for hire by churning out best-selling products such as iPhones, Kindles and PlayStations. Now, it’s deploying that power to bring cryptocurrencies to the masses.

FAO: Swiss-Israeli firm Sirin Labs raised $118 million in an ICO last year (reported here) for an open source blockchain smartphone. They have the money, now they have the manufacturer too.

Motherboard Maker ASRock Confirms Plan To Sell Crypto Miners

Nikhilesh De  – CoinDesk

ASRock is planning to sell four graphics cards specifically geared for cryptocurrency mining.

The company unveiled its Phantom Gaming Series, based on AMD’s RX series. An ASRock America employee confirmed that four of the cards – all of which are versions of the RX570 series – are “for mining only.”

BitPeople

Mt Gox CEO: I Don’t Want Bankrupt Bitcoin Exchange’s Billions

Pete Rizzo  – CoinDesk

The former CEO of what was once bitcoin’s largest exchange has again apologized for his role in the company’s 2014 collapse and demise into bankruptcy.

In a Reddit post Mark Karpeles issued a letter to the exchange’s users, many of whom have been locked in a years-long battle to retrieve funds lost by the exchange. In the letter, he struck back at the idea that he would personally benefit from how Japanese courts are likely to handle the case.

FAO: Nobuaki Kobayashi, the Tokyo attorney and bankruptcy trustee for Mt. Gox exchange, had already sold cryptocurrencies worth $400 million – more here. And Kobayashi has even more to sell. Karpeles stands to receive some millions USD.

Regulation

Japan Unveils Guidelines For Allowing Initial Coin Offerings

Yuki Hagiwara & Yuji Nakamura – Bloomberg (subscription)

Japan is moving toward legalizing ICOs, even as countries such as China and the U.S. restrict the fundraising technique because of their risks for investors.

FAO: Just the basic guidelines but they need to start somewhere.

Bank Of Montreal Expands Crypto Purchase Ban

Nikhilesh De  – CoinDesk

Canada’s Bank of Montreal will no longer allow customers to buy cryptocurrency using Interac debit cards.

A spokesperson for the bank confirmed the move without offering further details on the decision. The Interac ban follows reports that the bank barred crypto purchases through Mastercard debit and credit cards weeks ago.

Self-Regulation In Crypto Rises As Governments Stumble Through Legislation

Rachel McIntosh – Finance Magnates

While some voices in the crypto community argue that regulating cryptocurrency defeats the purpose of crypto in the first place, many others see regulation as a positive thing for the industry in the long run. They believe that regulating crypto will legitimize the industry, and while this likely means that cryptocurrency’s volatile, wild-west reputation will change, the industry as a whole will likely gain more stable value over a longer term.

Analysis

The Cryptocurrency Industry Might Actually Benefit From An Ad Ban

Louise Matsakis – Wired

Cryptocurrency startup founders who want to advertise their new companies can no longer rely on the internet’s largest platforms to help spread their message. Now, nearly all of the web’s most trafficked sites forbid cryptocurrency advertising. But entrepreneurs and researchers committed to the future of blockchain tech largely say they’re getting along just fine—and that the ban might even be a good thing.

FAO: It was the (social) media hype which inflated the craze in the first place. So for a more healthier development of the crypto industry this could be in fact better.

Other news

Investors Nurse $10m Losses On LongFin Index Mistake

Peter Smith – Financial Times (subscription)

Chairman Venkat,The CEO Of Controversial Crypto Company Longfin Blames Short Sellers For Stock Plunge

Evelyn Cheng – CNBC

The head of a small company that has attracted controversy over its ties to cryptocurrency said that he is not going to sell his shares while he is fighting $1.4 billion in bets against the stock.

“I’m not going to sell [for] the next three years,” Longfin CEO and Chairman Venkat Meenavalli said.”… “I’m standing on [sic] my statement.”

FAO: 14.6% of Longfin’s tradable shares are sold short. Oh, the market is fabulous.

South Korean Cryptocurrency Employees Detained Over Alleged Embezzlement: Paper

Reuters Staff – Reuters

Employees of Coinnest were detained on Thursday in connection with the alleged embezzlement of assets, Maeil Business Newspaper reported citing prosecutors.

Coinnest was not immediately available for comment, although the company’s websites appeared to be operating as normal.

FAO: Caught with their hands in the “cookie jar”?

Opinion

Wot, No Blockchain?

Jemima Kelly – Financial Times (subscription)

The latest press release from HM Land Registry, spelling out details of the first digital mortgage deed entered into Britain’s official Land Register, reads much like a standard blockchain pronouncement.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News