Tommy Wilkes – Reuters
Lily Katz & Camila Russo – Bloomberg (subscription)
Kellie Ell – CNBC
Tax selling was the culprit behind this year’s massive bitcoin sell-offs, Spencer Bogart, a partner at Blockchain Capital, said.
“People realized way more tax gains in 2017 than they expected to,” Bogart said “And now with crypto prices down 50%from their highs, people have to sell twice as much crypto just to cover those taxes.”
DNT: We cannot say if this is the total end of the bear market and Bogart said it too. But it’s a good sing. Check also a few categories below, Analysis section, why prominent cryptocurrency hedge fund Pantera Capital said bitcoin prices have bottomed out.
Reuters Staff – Reuters
Yahoo Japan Corp said it would buy a minority stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to shrug off security concerns and join the digital money industry.Yahoo Japan, which is also the country’s biggest online auction site, said in a statement it would buy through a subsidiary a 40%t stake in BitARG Exchange Tokyo, with services planned for launch in the autumn.
DNT: According to the sources cited By Reuters, the value of the investment. it would likely total 2 billion to 3 billion yen (13.06 million pounds to 19.59 million pounds). Impressive figures.
Kadena, the blockchain platform provider founded by former JP Morgan technologists, announced it raised $12 million in its Series B SAFT financing round to fund a new enterprise-grade public blockchain capable of processing over 10,000 transactions per second.
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Neha Dasgupta – Reuters
Coinsecure, an Indian cryptocurrency exchange, said nearly $3- million were stolen from its bitcoin wallet, the biggest reported so far in the country’s fledgling virtual currency market.
Molly Jane Zuckerman – Cointelegraph
Malta, which has recently passed regulatory legislation concerning Blockchain, cryptocurrencies, and ICOs in a bid to become a crypto-friendly “Blockchain island,” is welcoming major crypto exchange OKEx to the country, according to an OKEx press release.
DNT: Binance, the world’s largest crypto exchange by trade volume, also reported plans to open an office in Malta, after the warnings from Japanese regulators – details here, Exchanges & Trading Venues section
Kate Rooney- CNBC
The blockchain start-up Ripple’s cryptocurrency is not a security, one of its top executives said. The statement comes amid debate over whether U.S. securities laws apply to cryptocurrencies.
Ripple’s chief market strategist, Cory Johnson: “We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law,”
Patricia Laya – Bloomberg (subscription)
Venezuela’s oil-backed cryptocurrency, the Petro, must become legal tender for all transactions involving government institutions — from ministries to airports — within 120 days, according to a proclamation in the government’s Official Gazette.
Evelyn Cheng – CNBC
A cryptocurrency with ties to former hedge-fund manager Michael Novogratz has surged past litecoin into fifth place by market capitalization.CoinMarketCap data showed eos climbed more than 30 percent over the last 24 hours for a market capitalization of nearly $7.1 billion, topping litecoin’s $6.8 billion.
Helen Partz – Cointelegraph
Russia’s Ministry of Internal Affairs officers have arrested two men that were allegedly involved in a cryptocurrency mining operation in Orenburg city for not paying for several million kilowatt-hours of electricity. The farm hosted more than 6,000 mining devices
DNT: 6000 miners? Oh, boy!!!
Dan Gallagher – The Wall Street Journal (subscription)
Miners of cryptocurrencies may soon stop buying chips from Nvidia and Advanced Micro Devices But some businesses are more trouble than they are worth.
But Losing cryptocurrency mining sales allows Nvidia, AMD to focus on more solid opportunities.
David Floyd – CoinDesk
Payment giant Mastercard announced that it was hiring 175 new technology developers, including blockchain specialists.
DNT: If you are a tech developer and a blockchain specialist, now it’s the moment for an upgrade of your career.
Nikhilesh De – CoinDesk
Bank of America may be looking into replacing some of its existing data sharing systems with a blockchain, according to a patent application. The filing, published by the U.S. Patent and Trademark Officoutlines a permissioned blockchain which, if implemented, would securely record and authenticate personal and business data, ensuring only authorized parties can access it. Further, the system would keep a log of everyone who accesses the data, according to the application.
Wolfie Zhao – CoinDesk
A blockchain-themed conference in Shanghai dubbed the Global Fintech & Blockchain China Summit 2018 was abruptly suspended by police. The one-day event was organized by a business conference organizer called PTP International, was originally scheduled for April 12. Yet around midday (local time) on Thursday, the morning session was halted by police, and all attendees and organizers of the event were removed from the venue. The afternoon session of the event was also cancelled.
DNT: OMG! The things are getting complicated in China…I can not help myself wondering about what kind of strange experience we would have had if we would have been invited to the event.
Joon Ian Wong – Quartz
The ethereum world is in a tizzy over Deepak Chopra. The author and spiritual leader, who is also widely mocked for making pseudo-scientific claims, was promoted on Twitter yesterday as a speaker at a big crypto conference called Ethereal that will be held in New York next month.
DNT: Though, it should be interesting…
Steven Russolillo – The Wall Street Journal
A prominent cryptocurrency hedge fund said bitcoin prices have bottomed out.
Pantera Capital Management called $6,500 the probable low for bitcoin in the current bear market. The investment firm also said it was “highly likely” that bitcoin will hit new highs and exceed $20,000 within a year. Pantera, a leading voice in the crypto market, makes rare—but significant—short-term calls.
Gaurav Sharma – Forbes
The energy industry is in race to lower carbon emissions, not more renewables – an expression you often hear these days from investment analysts to circuit speakers, although BP chief executive Bob Dudley is widely thought to have come up with the phrase earlier in 2018.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News