Blockchain Daily News – Edition 200, 02.05.2018
May 2, 2018
Blockchain Daily News – Edition 202, 04.05.2018
May 4, 2018

Blockchain Daily News – Edition 201, 03.05.2018

Fans’ Section

Goldman Sachs to Open A Bitcoin Trading Operation

Nathaniel Popper – The New York Times

Bitcoin Pops After Report Goldman Sachs Will Start Trading Products Linked To Crypt

Frank Chaparro – Business Insider

Goldman To Add Crypto Contracts Without Trading Bitcoins

Jennifer Surane – Bloomberg (subscription)

Don’t call Goldman Sachs’s long-awaited Bitcoin-trading business a full-fledged desk, and don’t expect it to buy and sell Bitcoins, at least at first. The bank, preparing to pioneer a new cryptocurrency market on Wall Street, plans to start small and offer a limited number of derivatives, according to a person briefed on the decisions. It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.

FAO: Nonetheless Goldman is making an entrance in the “cryptoverse”, as expected. It is just testing this universe before making more serious steps, but this is definitely a moment we are going to remember.

This Crucial Bitcoin Group Is An Unexpected Source Of Rising Futures Trading Volume

Aaron Hankin – TechCrunch

While proponents laud the growing adoption of futures, part of the increase in futures volumes is coming from an unexpected source — bitcoin miners.

FAO: Bitcoin futures volumes growing partly because miners are hedging their “positions”. The ecosystem is alive.

Deals & Investments

Peter Thiel-Backed Venture To Help Big Investors Bet On Bitcoin

Alexander Osipovich – The Wall Street Journal (subscription)

Peter Thiel’s Founders Fund Thinks Institutional Investors Want In On Bitcoin

Jamie Redman – Bitcoin.com

According to sources familiar with the matter, Thiel’s fund has made an investment in the startup Tagomi, a firm that plans to execute cryptocurrency buy and sell orders as a brokerage service dealing with institutional investors and family offices.

FAO: And since institutional investors are jumping in, the “cryptoverse” will need more and more service providers to address their needs too. Want to know what other interesting projects were recently announced in this scope? You can contact me directly via Earn.com – here’s my profile.

BlackRock Analysts Quit To Launch Blockchain Venture Fund

Paul Clarke – Financial News (subscription)

Three BlackRock staff have quit their jobs to launch a $20m venture capital fund aimed at investing in blockchain projects, another example of investment professionals leaving large institutions to work with the technology underpinning digital currencies like bitcoin and ethereum. Eterna Capital is led by CEO Andrea Bonaceto, who launched recruitment platform HiredGrad straight out of university in 2014.

Hot Crypto Company Blockchain Is Opening In San Francisco After Acquiring A Small App Building Shop

Oscar Williams-Grut – Business Insider

Blockchain is establishing a presence in San Francisco for the first time after acquiring Bay Area startup Tsukemen. UK-headquartered Blockchain announced the deal but did not disclose terms. Tsukemen is an early stage app-development company founded by Thianh Lu, who previously founded and sold file-sharing product Cloudup.

Telegram Token Sale Is Likely A Victim of Rising ICO Scrutiny

Camila Russo & Olga Kharif – Bloomberg (subscription)

Telegram Messaging App Scraps Plans for Public Coin Offering

Paul Vigna – The Wall Street Journal (subscription)

The popular messaging app Telegram has brought in so much money from a small group of private investors that it is calling off a planned sale of cryptocurrency to the wider investing public, according to a person familiar with the matter.

FAO: Telegram pulled the plug on the ICO. Some say it has enough money to start its project, others say it’s due to regulatory risk. Nevertheless the interest was huge – $1.7 from fewer than 200 private investors. Check our FREE ARCHIVE for previous details regarding Telegram’s project.

Cryptocurrency Exchange Nauticus Raises $16.8 Million Through Ongoing ICO For Multi-Tiered Ambitious Project

Dominic Powell – Smart Company

An Aussie startup has raised more than $16 million dollars to build one of the world’s most multi-functional cryptocurrency exchanges and payment platforms entirely out of Melbourne.

Nauticus is a blockchain and cryptocurrency startup founded just 12 months ago by long time friends Bryan Ng and Jonathan Chang, and has been “public facing” for just nine weeks.

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

Coinbase Discloses Corporate Data In Response To NY Crypto Inquiry

David Floyd – CoinDesk

Coinbase To Add Block Trading, Open Chicago Offices

Rachel McIntosh – Finance Magnates

Coinbase has developed some plans to launch an office in Chicago and to launch block trading in the near future, a move that the company hopes will attract more institutional clients. The report was made by Business Insider, citing a source familiar with the situation; Coinbase has not made any official announcements on either of these matters.

FAO: See? Another move towards serving institutional players. Well in fact two moves, since it’s going to open an office in Chicago, home of Cboe and CME (currently trading bitcoin futures!) and all the big derivatives traders in the US. Everybody is getting ready for the big business. Better hold tight, this year things are going to go crazy in the “cryptoverse”!

Hacked’ Crypto Exchange BitGrail Shuts Down 3 Hours After Re-launch

CCN

Italian cryptocurrency exchange BitGrail has once again suspended operations after briefly re-opening most of its trading markets. The exchange, which has been immersed in controversy since 17 million Nano tokens (XRB) — now worth approximately $140 million — went missing in February, re-opened trading for all coins except XRB. But the platform had once again been shut down — this time allegedly in response to a court order.

Cryptocurrencies

S&P Dow CEO Alex Matturri, Says His Firm Decided Against Crypto Indexes For Now

Min Jeong Lee  – Bloomberg (subscription)

S&P Dow Jones Indices says it’s decided against introducing cryptocurrency indexes – for now. With the popularity of bitcoin and other digital currencies, S&P has been receiving requests from customers to build gauges tracking them, Alex Matturri,CEO, said in an interview. But for the time being, at least, the index provider has no plans to offer them.

FAO: For now…

Square Says It Sold $34 Million Of Bitcoin In First Quarter

Evelyn Cheng – CNBC

Payments processing company Square said it sold a total of $34.1 million in bitcoin in the first quarter. However, the company spent $33.9 million to buy bitcoin to allow people to trade it through its Cash mobile payments app. As a result, adjusted revenue from bitcoin was just $200,000.

Vendors

Cinnober Sets Up Lightning Node To Test Scalability On The Blockchain

Finextra

Cinnober is running tests on the Lightning Network to determine its potential for scaling up cryptocurrency transactions across the bitcoin blockchain.

Hydro-Québec Rethinks Hooking Up Cryptominers, Leaving Would-Be Bitcoin Miners In The Dark

Sarah Leavitt – CBC

After investing more than $80,000 to get his cryptocurrency mining business off the ground, Eric Sheffren stands to lose it all because Hydro-Québec has put all new applications from bitcoin and other cryptocurrency miners on hold.

FAO: Go to Eastern Europe, plenty of opportunities there!

BitPeople

Bitcoin: London Police Make First Cryptocurrency Seizure From Prolific Hacker Grant West

Kim Hjelmgaard –  USA Today

Grant West’s arrest was a milestone for Scotland Yard: The 25-year-old was the first cybercriminal taken into custody and had his Bitcoin currency, worth about $700,000, seized by London Metropolitan Police.

Latest Developments & Agreements

Historic Korean Peace Declaration Recorded On Ethereum Blockchain

Wolfie Zhao – CoinDesk

The historic moment when leaders from South and North Korea met on April 27 and signed an agreement for peace between the two nations has now been permanently recorded on the ethereum blockchain.Ryu Gi-hyeok, a 27-year-old game developer from South Korea, has coded the Panmunjom Declaration, which includes the line “there will be no more war on the Korean peninsula,” in both Korean and English and stored both versions in two ethereum transactions.

Dubai Government Unveils Blockchain Business Registry

Sujha Sundararajan – CoinDesk 

Dubai’s government is using blockchain technology to make it easier for companies to set up and operate in the country.According to an announcement, the country’s Department of Economic Development has teamed up with the Dubai Silicon Oasis Authority as well as the Smart Dubai initiative and IBM, to develop a commercial business registry built with blockchain.

Regulation

SEC Official Valerie Szczepanik Urges Caution On ICOs

Scott Cohn – CNBC

Valerie Szczepanik, SEC assistant director of enforcement and head of the agency’s working group on cryptocurrencies says many so-called “ICOs” launching new cryptocurrencies are, in fact, securities offerings in disguise. And that could be putting investors at risk.”They’re raising a lot of money, but they’re not complying with the rules that are in place to protect investors,” she said.

Blockchain Municipal Bond Plan Inches Forward With Berkeley Vote

Romy Varghese – Bloomberg (subscription)

Berkeley, California, is inching closer to possibly becoming the first municipality to apply blockchain technology to public finance to raise funds for community projects. In a unanimous vote, the City Council asked the city manager to evaluate the benefits of a pilot venture that may result in the city selling an undetermined amount of municipal bonds with the technology that underpins cryptocurrencies.

Analysis

How Crypto Stacks Up Against Other Investments

Yue Qiu, Justina Lee & Adrian Leung – Bloomberg (subscription)

The crypto fever has quieted down, but the roller-coaster trading has raised the stakes for investors to figure it out. Are they financial assets, currencies, commodities or something entirely new? Bitcoin and other cryptocurrencies have defied easy categorization since they burst into the public consciousness last year, fueling an intense debate over how they should fit into the average investor’s portfolio—and whether they belong at all.

FAO: Today’s must-read.

Bitcoin Analysts Brace For ‘Dogfight’ With Narrowing Trading Range

Janine Wolf – Bloomberg (subscription)

The narrowest trading range in about six months has Bitcoin technical analysts scouring price charts to help figure out whether the biggest cryptocurrency is poised to build upon its April rally.

Cryptocurrencies Are Heading For A 90% Correction In ‘Mass Market Wipe Out,’ Investment Bank GP Bullhound Warns

Arjun Kharpal – CNBC  

Cryptocurrencies will experience a “heavy correction” of 90 percent leading to a “mass market wipe out,” a technology investment bank predicted in a report. GP Bullhound’s “Token Frenzy: The Fuel of the Blockchain” report laid out the current state of cryptocurrencies, blockchain technology, initial coin offerings (ICO) and what they think the future will look like.

Other news

Federal Judge Backs SEC Freeze Of Blockchain-Linked Funds

Erik Larson – Bloomberg (subscription)

A federal judge ruled three business associates of a fintech company are likely to lose at a trial over government accusations that they sold unregistered stock in the firm after a rally linked to cryptocurrency.

A New Facebook Messenger Malware Is Targeting Crypto Users

Annaliese Milano  – CoinDesk

A malicious Google Chrome extension known for its effectiveness has been revamped to target cryptocurrency exchanges, cybersecurity company Trend Micro reported. Dubbed FacexWorm, Trend Micro said in a blog post that the malicious extension’s capabilities “were made over” to steal user credentials for Google, MyMonero, and Coinhive.

Opinion

A Verbal Cryptobrawl Breaks Out At Milken Over Bitcoin’s Future

Matthew Leising – Bloomberg (subscription)

A cryptocurrencies panel at the Milken Institute Global Conference was more like a cryptobrawl – no punches but a barrage of barbed comments.

“All this talk of decentralization is just bullsh*t,” said Nouriel Roubini, an economist known as Dr. Doom for predicting the chaos of the 2008 financial crisis.

FAO: Oh my, Mr. Roubini, your language! Your French is impeccable…

DNT: We’ve been through that before, haven’t we?

Reddit Co-Founder Says Ethereum Price Will Reach $15,000 This Year

Aaron Wood – Cointelegraph

Alexis Ohanian, a co-founder of Reddit, said that he predicts the price of Ethereum will reach $15,000 in 2018.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News