Blockchain Daily News – Edition 196, 24.04.2018
April 24, 2018
Blockchain Daily News – Edition 198, 26.04.2018
April 26, 2018

Blockchain Daily News – Edition 197, 25.04.2018

Fans’ Section

Crypto’s April Rally Climbs To Almost 75%

Todd White – Bloomberg (subscription)

Bitcoin Is One Of The Few Things Surging In A Sea Of Losses

Camila Russo – Bloomberg (subscription)

Amid a sea of red in financial markets, Bitcoin is still flashing green.

FAO: AHA! Better have another read of our opinion issued in February about the market volatility back then and what that could mean for the future of the “cryptoverse”. I had some questions then: “Should the new asset class be regarded as a potential refuge in the event of a stock market collapse? Should this segment be the moment of “explosion” of this new asset class? Is this the moment of a decoupling of the two assets – stocks-cryptos?” Read the entire post on Linkedin Pulse, we first published it on Feb. 13th.

TD Ameritrade Put An Actual Ad On The Bitcoin Blockchain 27

Nikhilesh De  – CoinDesk

TD Ameritrade planted an ASCII flag – that is to say, imprinted an advertisement – on bitcoin’s blockchain. The online broker announced that it sent 68 bitcoin transactions to create a digital flag with its logo on the bitcoin blockchain. The company used the OP_Return feature in bitcoin’s protocol to insert the characters, creating 68 invalid transactions as a result. Due to the nature of the blockchain, this flag is now forever preserved on the cryptocurrency’s ledger.

FAO: Behold the true fans of bitcoin!

FAO: And now, let’s get this started, as we have Pitbull and Snoop Dogg joining the global crypto party…

Pitbull Is Turning To Blockchain In Hopes Of Saving The Music Industry

Jordan Santo – CNBC

It’s going down, and this time he’s not yelling “timber.” The three-time Grammy award-winning artist and serial entrepreneur Armando “Pitbull” Perez announced the launch of his latest venture, an international blockchain coding competition aimed at disrupting the current state of the music industry.

FAO: Guess Pitbull is starting to SHAKE the blockchain now…

Snoop Dogg To Perform At Ripple’s Blockchain Week NYC Party

Nikhilesh De  – CoinDesk

Distributed ledger startup Ripple is hosting a VIP gathering featuring Snoop Dogg – and will be giving away 10 tickets to the event on Twitter. The company announced that Snoop would perform at its XRP Community Night during Blockchain Week NYC in May. The event itself will celebrate the company’s work to date in developing its XRP token and the accompanying ledger technology.

DNT: Partyyyyy! 🙂 I wonder if he gets paid in XRP.

FAO: Will he sing his famous song “Ups & Downs” while there? It matches XRP’s price evolution these last months…

Deals & Investments

Nexon, A South Korean Gaming Company Is Said To Be In Talks To Buy Bitstamp, The World’s Oldest Bitcoin Exchange

Oscar Williams-Grut  – Business Insider

Bitstamp is up for sale, according to people familiar with the deal, and Nexon, a South Korean gaming company is said to be in pole position to acquire it. The price is said to be about $350 million, according to two of the people. Bitstamp is the oldest surviving bitcoin exchange.

FAO: …and one of the most important European crypto exchanges. Hmmm, I can’t really say I can name at least another one with significant trading volumes. Oh, CEX.IO, are they still alive?

BaFin Approves BITREAL Capital To Launch Hybrid Crypto Fund

Arnab Shome – Finance Magnates

The German Federal Financial Supervisory Authority has granted marketing authorization and registration to Munich-headquartered BITREAL Capital GmbH to operate a cryptocurrency and real estate hybrid fund, called BITREAL Real Estate Blockchain Opportunities Fund 1 (BREBCO 1).This will be the first hybrid fund of cryptocurrency and real estate in Germany, and it is aiming for an equity volume of 40 million euro ($48.95 million).

FAO: Interesting hybridization…

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 in this section! Contact us HERE!

Editors’ Pick: KimlicThe First Legally Compliant KYC Solution on Blockchain. Kimlic is a private blockchain that enables sharing proof of KYC between financial institutions by permission of individuals. Kimlic is compliant with EU regulations too.

Kimlic Token is on Private Round

Want to know more about the project or to contribute on private round? Contact us HERE!

Exchanges & Trading Venues

Crypto Billionaire Zhao Changpeng, Sued By Sequoia After Deal Falls Apart

Benjamin Robertson – Bloomberg (subscription)

A legal dispute between Zhao Changpeng, founder of Binance, and a unit of Sequoia Capital is offering a rare glimpse into one of the digital-asset industry’s fastest-growing startups.

FAO: Now let’s see, we have these quick facts:

  • Zhao was sued in Hong Kong by a unit of Sequoia Capital
  • Zhao and Sequoia began negotiations in August for 11% stake valuing the exchange at $80m
  • in mid-December the negotiations broke down
  • on Dec. 14 Binance’s shareholders think the proposed deal undervalued the exchange
  • Zhao approached by IDG Capital, with an offer at higher valuations: $400m (round one of investment) and $1 billion (round two)
  • Zhao says Binance is conservatively valued at about $3 billion

Crazy questions:

  • If you barely can valuate digital assets, how can you valuate a crypto business with a history of 9 months?
  • How much would you pay for a business with location of offices and servers kept secret, although it was previously said it was based in HK and currently setting up operations in Malta?
  • Is this business located on a ship currently sailing from HK to Malta?
  • Any other questions? Or answers? Catch you on Linkedin & Telegram.

MobileCoin, A Cryptocurrency From The Creator Of Signal, Just Raised $30M For Mobile Payments

Taylor Hatmaker – TechCrunch

A new privacy-centric cryptocurrency project with some big names on board just raised a round worth noting. The team at MobileCoin announced that Binance Labs led a $30m round denominated in bitcoin and ether for the new cryptocurrency. MobileCoin will enjoy “priority consideration” for being listed on Binance as part of the relationship.

Cryptocurrencies

Ethereum’s Top Developers Think A Blockchain Split Might Be Inevitable

Rachel Rose O’Leary  – CoinDesk

Ethereum may be on the brink of a blockchain split. At least, that was the mood at a meeting of top ethereum developers where a discussion on a controversial code proposal called EIP 999 led some to speculate the scenario is now a possibility. Indeed, it’s now believed the proposal, which seeks a technical fix that would return $264 million in lost funds, is so contentious, some users may choose to defect to a new version of the code.

FAO: Oh boy, here we go again.

Why Some Cryptocurrencies Are Only For The Wealthy

Olga Kharif – Bloomberg (subscription)

ICOs which have become the ground floor for investing in cryptocurrencies that hope to soar like Bitcoin, raised almost $6 billion last year. In most cases, the issuer had no product — only a white paper jam-packed with business ideas — and said its coins (or tokens) weren’t securities because they’d be used in running whatever venture it was. Regulators didn’t buy that. Some crypto startups are now pitching their digital coins in a different way, by calling them security tokens, ones that can take advantage of exemptions in securities laws.

Vendors

Popular Crypto Wallet MEW Hit By DNS Attack That Drained Some Users’ Accounts

Jon Russell – TechCrunch

There is concern, tears and lost money in the world of crypto once again after MyEtherWallet (MEW), one of the most popular wallets on the internet, was hit by a DNS hack that saw some users lose their cryptocurrency.

Cryptojackers’ Access People’s Phones To Mine Virtual Currencies

Tadatsugu Shimazu-Nikkei Asian Review

If you’ve noticed your computer or smartphone acting sluggishly after visiting an unfamiliar website, the problem may be more than just the usual file clutter. Your PC may have been hijacked to mine cryptocurrency.

FAO: Ha, phones! That’s a new one…

DNT: Indeed :)) And in all that time I was wondering why my CPU is so slow..

Huobi Latest To Jump on EOS Wagon

Simon Golstein – Finance Magnates

Huobi Pro has announced that it is to campaign to become a block producer on the EOS blockchain, as the Cayman Islands-headquartered platform surges in value.

Korea’s Largest Telecom Operator Announces Blockchain Service For Asset Management

Molly Jane Zuckerman – Cointelegraph

South Korean telecommunications operator SK Telecom announced the release of an asset management service with Blockchain tech, as well as a platform for linking Blockchain startups with investors.

BitPeople

Chinese #MeToo Student Activists Use Blockchain to Fight Censors

Keith Zhai & Lulu Yilun Chen – Bloomberg (subscription)

Student activists trying to ignite the #MeToo movement in China have turned to the technology behind bitcoin to battle government censorship.

FAO: Laudable initiative, but you’re talking about the Chinese government here…

Angellist: Number Of New Crypto Job Listings Doubled In The Last Three Months

Kevin Helms – Bitcoin.com

Angellist, a popular website that allows startups to raise money from angel investors, has revealed data about new crypto job listings on its platform. The company details the hiring needs of companies in the crypto space and what jobs are in demand.

Latest Developments & Agreements

Meet The Quantum Blockchain That Works Like A Time Machine

John Biggs – TechCrunch

A new — and theoretical — system for blockchain-based data storage could ensure that hackers will not be able to crack cryptocurrencies once the quantum era starts. The idea, proposed by researchers at the Victoria University of Wellington in New Zealand, would secure cryptocurrency futures for decades using a blockchain technology that is like a time machine.

Blockchain Solution For Syndicated Loans Becomes First App To Go Live On R3’s Corda

Global Trade Review

A blockchain-powered platform for syndicated loans is now commercially available after having been successfully piloted by seven international banks, including BNP Paribas, BNY Mellon, HSBC, ING, Natixis and State Street.

Regulation

California State Senator Promotes Blockchain Bill For Recording Stock Information

Ana Alexandre – Cointelegraph

Senator Bob Hertzberg who represents California’s 18th Senate District, advanced legislation permitting Blockchain technology for certain business practices. SB 838 would allow corporations to apply “Blockchain technology or one or more distributed networks” to record and keep the “names of all of the corporation’s stockholders of record, the address and number of shares registered in the name of each of those stockholders, and all issuances and transfers of stock of the corporation.”

Arizona’s Crypto Tax Payments Bill Clears Hurdle

Nikhilesh De  – CoinDesk

A key committee in Arizona’s House of Representatives has given its blessing to a bill that would clear the way for the state to accept cryptocurrencies as payment for taxes.

The House Rules Committee voted to approve the measure, ending what appeared to be a freeze on the bill after the House Ways and Means Committee gave its approval early last month. It now proceeds to the full House for a vote.

FAO: Crypto regulation breakthroughs in Cali and Arizona…

Analysis

Let’s Destroy Bitcoin

Morgen Peck – Technology Review

Three ways Bitcoin could be brought down, co-opted, or made irrelevant: Government takeover, Facebook sneak attack, Go forth and multiply

DNT: This story provides a few scenarios about how a government, a corporation or even ordinary people can make Bitcoin useless or redundant.

FAO: Today’s must-read.

Other news

Police In Chinese Vity Seize 600 Computers Used To Mine Bitcoin

Reuters Staff – Reuters

Police in the north China city of Tianjin confiscated 600 computers used to mine bitcoin cryptocurrency after the local power grid operator reported abnormal electricity usage, Xinhua reported.

FAO: My question is what is the Chinese government doing with all the confiscated machines and coins?

Opinion

Bitcoin Is The Greatest Scam In History

Bill Harris  – Recode

I’m tired of saying, “Be careful, it’s speculative.” Then, “Be careful, it’s gambling.” Then, “Be careful, it’s a bubble.” Okay, I’ll say it: Bitcoin is a scam. It’s a colossal pump-and-dump scheme, the likes of which the world has never seen.

FAO: Well, that’s the guy’s opinion. De gustibus non est disputandum…

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News