Matt Levine – Bloomberg (subscription)
FAO: The topic of this week and its reverberations in the financial media. Goldman is actually writing history with its recent move. Congrats for its guts to do it!
DNT: Check our yesterday’s edition for details regarding Goldman’s move in the cryptoverse.
Yingzhi Yang – SCMP
China’s Huobi has announced it is setting up a $1 billion fund to finance domestic blockchain-related start-ups, in a bid to bolster its operations in the country after shutting down renminbi-to-bitcoin trading last year.
FAO: Remember that cryptocurrency exchanges’ profits started to rival with those achieved by traditional exchanges. Recent data revealed by Coincheck’s buyer, Monex Group, shows that the Japan-based crypto exchange earned 53.2 billion yen ($490 million) from April 2017 through January 2018. That’s almost the earnings of Japan Exchange Group, 66.1 billion yen, for all of 2017. What to do with all this profit (if it doesn’t get stolen…) – invest it, of course!
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: Kimlic – The 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!
Frank Chaparro – Business Insider (subscription)
Becky Peterson – Business Insider
Coinbase is doing something completely new in the world of crypto: it’s going on an M&A shopping spree. The company has already acquired three companies this year. Plus, it just hired Emilie Choi, LinkedIn’s top dealmaker, to help Coinbase step up its acquisition game.
FAO: It’s doing something other crypto exchanges should do too in order to survive in a much more mature trading universe. Well, Circle moved quite fast too, when it acquired Poloniex in February, while other players are looking to new markets to grow their customer base. But truth is that without an aggressive development most of the current leaders in crypto trading volumes won’t be able to face a competition when traditional exchanges and trading venues will move into this space. Time will tell. Good job, Coinbase!
Neha Dasgupta & Abhirup Roy – Reuters
A month after India’s central bank barred regulated lenders from facilitating cryptocurrency transactions, trading volumes have surged dramatically alongside a sharp rally in prices.
Exchange operators, investors and analysts say people are rushing to take advantage of a three-month window the Reserve Bank of India has given banks to sever ties with cryptocurrency traders and exchanges.
FAO: Yes, of course it will survive. Like it did in many other cases, like in China’s case, to name but one.
Chris Morris – Fortune
A month-and-a-half after dropping its support for Bitcoin, Reddit is hoping to double down on cryptocurrencies. Chris Slowe, CTO for the site, which is one of the most active hubs of Bitcoin enthusiasts, said it was Coinbase’s migration to a new platform that led to the Bitcoin ban in late March, but ongoing site changes at Reddit should allow it to accept crypto payments again.
FAO: “He loves me… he loves me not”… BTW Alexis Ohanian, a co-founder of Reddit, recently predicted Ethereum will reach $15,000 in 2018.
Silvia Ognibene – Reuters
Two Italian entrepreneurs are raising up to 20 million euros ($25 million) as they try to carve out a new niche in cryptocurrency mining – a dream that began in a dishwasher drawer.
FAO: A new concept called crypto “mobile farm” could be a model that might actually work, especially in a world experiencing a new kind of mass migration – the crypto “miners’ migration” from countries like China, where everything related to crypto is currently “gunned”, to more (regulatory) friendlier places or cheaper power heavens.
Chris Wright – Euromoney
Soviet military bunkers in Kazakhstan and portable houses in Siberia linked up to the plumbing: Bitcoin mining is moving in some interesting directions that will become even more diverse as China cracks down on its domestic industry.
FAO: See what I mean?
David Floyd – Coindesk
Bitmain has unveiled a new cryptocurrency mining hardware product dedicated to the Equihash algorithm, which is used by the privacy-oriented cryptocurrency zcash.
The Equihash application-specific integrated circuit (ASIC)shipments expected to begin in June, according to Bitmain’s website. The Antminer Z9 mini’s release comes exactly a month after the formal debut of Bitmain’s ethereum-focused ASIC.
Nikhilesh De – CoinDesk
JPMorgan Chase is seeking to patent a system for using distributed ledgers as a way to facilitate and reconcile financial transactions, newly-released filings show. In a patent application published by the U.S. Patent and Trademark Office JPMorgan outlined a system that uses distributed ledgers to record payments being sent from one bank to another using a peer-to-peer network.
Gayatri Suroyo & Tabita Diela – Reuters
Indonesia, like other emerging markets, has historically struggled to keep accurate records due to a lack of expertise and resources, but the public and private sectors are now looking at blockchain technology to overcome some of these challenges.
David Floyd – CoinDesk
Two officials at the CFTC spoke about regulating cryptocurrencies this week, stressing the need for cooperation between their agency and another powerful U.S. regulator, the SEC.
FAO: I can bet US regulators are a bit stressed these days. Crypto regulation is on everyone’s lips…
Lily Katz & Rob Urban – Bloomberg (subscription)
It was the last day of the World Economic Forum in Davos and Wayne Caines, Bermuda’s minister of national security, was about to head home after an exhausting week. But before leaving, he told a group of blockchain enthusiasts, “If you are really serious about advancing this space and working with us, meet us in Bermuda on Monday.” Then it actually happened. A handful flew to the British territory on their own dime with the same suitcases they had brought to Switzerland, and spent the day with Bermudian government officials laying out a road map to embrace the nascent industry.
Shawn Langlois – MarketWatch
Patrick Byrne, CEO of Overstock, is just one of many high-profile tech types bursting over the future of blockchain. But, according to a new Gartner study, Byrne is in the minority. Of 3,138 chief information officers polled around the world, only 1% currently use the technology and a mere 22% say they plan on using it in the future.
The Next Web
Ethiopia is the latest African nation to express interest in blockchain-powered solutions. The country has signed a MOU with fledgling cryptocurrency startup Cardano that will see developers use its blockchain in the local agriculture industry.
Lily Katz – Bloomberg (subscription)
Bitcoin bulls may want to curb their enthusiasm. The cryptocurrency rose toward a two-month high Thursday amid optimism sparked by news that Goldman Sachs is moving forward with Bitcoin trading operations. Adding to the gleeful tone, Square’s latest report included a line suggesting it got $34 million of revenue related to the tokens last quarter.
Lionel Laurent – Bloomberg (subscription)
Bitcoin is languishing in a crypto-limbo that any big bank would find hard to break. Individual investors, stung by heavy losses, appear to have put aside their urge to gamble for the time being. Trading volumes have dwindled. Hedge-fund traders who drooled over Bitcoin’s volatility last year now describe it as boring — its daily trading range has fallen to around $100, close to 1 percent of the spot price.
Enjoy your weekend!
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News