Lucinda Shen – Fortune
How high can Bitcoin rise?
Well, according to venture capitalist and Bitcoin bull Tim Draper, get reading for the cryptocurrency to reach $250,000 in four years.
“Serious winds (of change) at our block (chain) party last night,” the founder of Draper Fisher Jurvetson wrote on Twitter. “I predicted $250k in 2022,” he added in a follow-up tweet after mistakenly posting $25k in an earlier one.
Ilya Khrennikov – Bloomberg (subscription)
Reuters Staff – Reuters
The chief executive of the Telegram messenger service, Pavel Durov, said the application will use built-in systems to circumnavigate a ban in Russia imposed by Moscow court. He said on his page in the VK social network that he still cannot guarantee that Telegram users will retain access to the messenger without using virtual private networks.
DNT: The Moscow court ordered telecommunications companies to block Telegram in Russia after the chat app refused to grant intelligence authorities access to users’ encrypted messages, as Bloomberg informs. This measure came just a few weeks after Telegram raised $1.7 billion from investors – details here, Deals & Investments section.
Simon Golstein – Finance Magnates
Binance’s third quarter recap published on LinkedIn begins with a graphic which triumphantly proclaims that approximately 30 million USD was burned in that quarter.
Chanpeng Zhao, CEO of Binance, explains that 20% of the profit made by the exchange is burned every quarter. The amount of BNB burned has been increasing over the last three quarters because Binance has been expanded its customer base. However, profit in real terms has declined because the value of BNB/USD has dropped.
Lucas Matney- TechCrunch
Coinbase announced that it has acquired Cipher Browser, a decentralized app browser and wallet for the Ethereum blockchain that it will be using to bolster its own similar product. Terms of the deal weren’t disclosed.
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Camila Russo & Eduardo Thomson – Bloomberg (subscription)
Samuel Haig – Bitcoin.com
A number Of Chilean cryptocurrency exchanges have sought to appeal the recent decision by several Chilean banks, including state-owned Banco del Estado de Chile, to suspend the accounts of cryptocurrency exchanges.It has been reported that Chilean cryptocurrency exchange platforms, Buda, Orionx, and Cryptomkt, have successfully sought to have their cases heard by an appeals court – the Court of Defense of Free Competition
Brazil’s largest cryptocurrency exchanges, including Bitcointrade, Mercado Bitcoin, Foxbit, and others, recently joined forces to create a cryptocurrency association whose goal is to defend the interests of cryptocurrency users. The organization, dubbed Associação Brasileira de Criptoeconomia (ABCripto) recently found out other companies created a “rival” association.
Thomas Delahunty – News
In a perhaps unintended consequence of the RBI’s orders, the bank’s directive proved opportune for a lot of traders who used the dip in Bitcoin’s price to their advantage by buying more and holding it in their private wallets (rather than with local exchanges) — with hopes of making future gains when the market
DNT: The story brings us the example of Aniket Patel is an Indian teenager and cryptocurrency investor who considers himself a long term “HODL’er”.
Michael Patterson – Bloomberg (subscription)
Omkar Godbole – CoinDesk
James Mickleboro – The Motley Fool
That’s the million-dollar question. In the medium-term it’s close to impossible to know, but there are signs that in the near-term it could have bottomed.
DNT: Indeed a million-dollar question! Read some related content in our previous edition – Fans section and Analysis section.
Bitmain, Chinese cryptocurrency mining company, has been given a green light to set up a blockchain facility in Western Walla Walla County, a county in the U.S. state of Washington. Local newspaper Union-Bulletin wrote that the decision was in complete agreement of the three commissioners involved in the situation.
Sam Kim – Bloomberg (subscription)
The world’s biggest maker of smartphones and semiconductors may use the technology behind cryptocurrencies to manage its vast global supply network.Samsung is considering a blockchain ledger system to keep track of global shipments worth tens of billion of dollars a year, according to Song Kwang-woo, the blockchain chief at Samsung SDS., the group’s logistical and information and technology arm.
DNT: This move could cut Samsung’s shipping costs by 20%,as we are informed in the story. .
Sanne Wass – Global Trade Review
Nine European banks have taken a crucial step to making blockchain available to their corporate clients, creating a legal entity for the expansion of the we.trade platform.
The joint venture is incorporated in Dublin under the name we.trade Innovation DAC and includes the nine founding banks as equal shareholders: Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and Unicredit.
Samuel Haig – Bitcoin.com
Sowa Labs, a subsidiary of Boerse Stuttgart has announced a forthcoming cryptocurrency app. The new app, Bison, is expected to be made available in GermanY during Autumn, with an English version expected soon after.
Annaliese Milano – CoinDesk
A newly published patent filing from Mastercard suggests that the payments giant is looking at blockchain as a way to safeguard identity data. In an application released by the U.S. Patent and Trademark Office Mastercard describes a system in which a semi-private or private blockchain would be used to receive and store identity data, the pieces of which could include a “name, a street address, tax identification number” and more.
DNT: Recently, (read in BitPeople section) the payment giant announced that it was hiring 175 new technology developers, including blockchain specialists.
Samuel Haig – Bitcoin.com
The Bermuda Monetary Authority has issued a consultation paper on draft regulations pertaining to “virtual currency businesses” and ICOs. The proposed bill seeks to create a framework that encourages and fosters the development of Bermuda’s nascent cryptocurrency industry.
Tom Rees – The Telegraph
Ripple has urged British regulators to follow in the footsteps of Japan and implement new rules to end the “Wild West” days of the cryptocurrency market.Ryan Zagone, head of regulatory relations at the transactions innovator and digital currency, called on UK regulators to strike a balance between “capturing risk and enabling innovation”
Molly Jane Zuckerman – Cointelegraph
The Bank of Lithuania has reportedly begun looking into cryptocurrencies, initiating a dialogue between commercial banks, government regulators, and crypto traders. The central bank had invited representatives from the Financial Ministry, the Financial Crime Investigation Service, the banking sector, and the ICO sector to a recent crypto roundtable, according to Jekaterina Govina, the fintech strategy coordinator at the Bank of Lithuania.
Michael Bellusci – Bloomberg (subscription)
Could turning flared gas in Texas’s Permian Basin into electricity to power bitcoin mining be a solution for shale producers?
Taobao, often known as eBay of China has updated their policy banning Cryptocurrencies, ICOs, and other virtual currency-related services. Taobao is a subsidiary of Chinese eCommerce Giant Alibaba.
Dan Caplinger – The Motley Fool
Bitcoin and other cryptocurrencies have seen huge gains over the past year, and that’s left many first-adopting crypto-asset investors sitting on some big paper profits. Recently, the IRS has made it clear that it expects its tax revenue from sales of bitcoin and other high-flying digital currencies, and the tax service is working hard with other players in the cryptocurrency space to make sure that it can enforce investors’ tax obligations.
One big controversy last year involved the IRS and its attempts to get information from Coinbase,
Rachel McIntosh – Finance Magnates
The SEC Chairman believes that the future of blockchain will benefit from early regulation.
The US government has been dancing around cryptocurrency regulation in recent months, somewhat chaotically making decisions about which existing rules apply to crypto and which rules need to be created for crypto.
DNT: Like in the Elvis old song: “It’s now or never, come hold me tight”… Might be the beginning of a beautiful love & hate relationship 🙂
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News