Graham Rapier – Business Insider
Warren Buffett, who hasn’t shied away from letting his opinion of cryptocurrencies be known, has doubled down on his skepticism of the digital assets. Warren Buffett compared bitcoin to rat poison at Berkshire Hathaway’s annual meeting.
Corinne Purtill – Quartz
“Cryptocurrencies will come to bad endings,” said Buffett, 87, at Berkshire Hathaway’s annual meeting He then turned to his business partner, Charlie Munger, another outspoken crypto skeptic .
“I like cryptocurrencies a lot less than you do,” replied Munger, 94. “To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”
DNT: Ohhh, what a heavy artillery of words we have here…
FAO: Interesting comparison. This makes me ask myself: if bitcoin is the poison who are the rats? Hmmm…
Gerrard Cowan – The Wall Street Journal (subscription)
Eric R. Ervin, founder of Reality Shares and BLCN says he is focused on blockchain technology’s future.
Masayuki Yuda – Nikkei Asian Review
Asia is becoming a less attractive market for large cryptocurrency exchange operators due to regulatory uncertainties.
FAO: With more and more exchanges looking to places like Malta and Bermuda to set up operations.
Marie Huillet – Cointelegraph
Osato Avan-Nomayo – Bitcoinist
The Financial Services Agency of Japan is set to introduce stricter guidelines for cryptocurrency exchange platforms in the country. According to local media sources, the FSA is taking this course of action to prevent another high profile crypto hack.
FAO: Which is quite easy to understand after the $500m in NEM mega crypto heist. Bring it on! Only the fittest will stay. Which is exactly what we need for a mature cryptoverse.
Kate Rooney – CNBC
Coinbase has been quietly preparing for a monster increase in trading volume. In a response to New York Attorney General Eric Schneiderman’s ongoing inquiry into exchanges, the private company disclosed some key company data. Coinbase said it has doubled the size of its full-time engineering staff and has overhauled much of the the platform’s code.
DNT: For more details regarding New York Attorney General Eric Schneiderman’s ongoing inquiry into exchanges, read this BDN edition – Exchanges & Trading Venues section.
FAO: And go through our (still) FREE ARCHIVE to follow more of our previous comments regarding the aggressive business development strategy Coinbase is following.
Benjamin Robertson, Matthew Leising & Andrea Tan – Bloomberg (subscription)
Just as stocks are untradable without an exchange, the same is true for Bitcoin and other digital currencies. That has made crypto exchanges a crucial.
Ian Allison – CoinDesk
2018 could end up being a banner year for a much-hyped cryptocurrency creation. (…)But before users can start rejoicing, there’s a serious chicken-and-egg problem, one that entrepreneurs believe is preventing the model from challenging the Coinbases and Krakens of the world. In short, you need liquidity to get adoption, yet in order to get adoption, liquidity must be good, a fact acknowledged by even those who see the potential in more high-tech trading offerings.
Lily Katz – Bloomberg (subscription)
Ripple Labs was hit by a lawsuit alleging that it led a scheme to raise hundreds of millions of dollars through unregistered sales of its XRP tokens. The San Francisco-based company created billions of coins “out of thin air” and then profited by selling them to the public in “what is essentially a never-ending ICO,” the class-action complaint in the Superior Court of California said.
DNT: According to the filling, Ripple violated state and federal laws by offering unregistered securities to retail investors, the story also informs.
FAO: One of the risks Coinbase didn’t want to take when it was offered to accept XRP on its platform… More about this topic here (Exchanges section). I commented back then “Ripple might find itself trapped on the Penrose stairs…”
Simon Golstein – Finance Magnates
Russian authorities are planning to transfer the country’s money transfer system to blockchain technology in 2019 according to a report in Izvestiya. Sources close to the Russian central bank said the Financial Communications Transfer System would be converted to a blockchain system. SPFS is the Russia equivalent of SWIFT.
DNT: Of course. After all, if the internet belongs to the Americans, Blockchain belongs to the Russians 🙂 – according to Grigory Marshalko – details here, Opinion section.
Elizabeth Gurdus – CNBC
The cryptocurrency market is on the fritz with correction threats looming, but that might not be so bad for cybersecurity leaders like Kevin Mandia, the CEO of FireEye.
Evelyn Cheng – CNBC
The cryptocurrency industry is getting so hot that dedicated career services are popping up.
CoinDesk, launched an online “Career Center” with job listings.
Georgina Lee – SCMP
Oanda, the online foreign exchange broker which this week accepted a buyout offer from CVC Capital Partners, will consider offering cryptocurrency trading this year through a derivative product in Singapore.
FAO: Oanda to consider bitcoin CFDs to compete with IG Group and eToro. Another fx online broker, Plus500, announced its sales more than tripled on crypto derivatives demand.
Todd White – Bloomberg (subscription)
Firms such as eToro Europe in London and Bitpanda GmbH in Vienna say clear, “know your customer” rules would let trading platforms go mainstream more easily, gain clients and eventually tap institutional business.
FAO: And some of the above mentioned brokers are seeing crypto rules as clearly beneficial for their business. More rules means safer trading places and more investors to join them.
Molly Jane Zuckerman – Cointelegraph
Yoon Suk-heun, the newly appointed governor of South Korea’s Financial Supervisory Service said that he sees “some positive aspects” to cryptocurrencies in a press conference. The governor also said the FSS will be working on crypto regulatory “issues” in collaboration with other regulators, local news outlet The Korea Times reports.
DNT: According to the story, Yoon Suk-heun, who will officially begin work on May 8.
Marie Huillet – Cointelegraph
Revenue from crypto-to-fiat transactions will be subject to taxation in Azerbaijan, local news outlet Trend reported.
Leigh Cuen – CoinDesk
The line between crypto education and self-promotion has blurred. And nowhere is this more evident than on social media, where imposters are everywhere and scams are rampant. But as crypto Twitter devolves into all-out chaos, a similar deterioration of discourse is playing out on another popular site for crypto enthusiasts – Meetup.com, the startup acquired by co-working giant WeWork for $20 billion in 2017.
Brendon Lau – The Motley Fool
The irony is that Bitcoin needs Goldman Sachs and the very banking system its founder despises if the crypto is to have a future.
FAO: Quite ironic indeed!
Don Weinland & Krithika Varagur – Financial Times (subscription)
A Russian state-owned fund has a novel strategy for attracting investment to the tundra and swamps of Siberia: selling its forests, gas, gold, even its fresh water and fish, one digital token at a time. The plan will be trialled this month with a digital token sale backed by Siberian diamonds. Investors can buy a share in a diamond for as little as $10.
David Segal – CNBC
It has been more than four months since thieves pulled off the biggest heist in the history of Iceland, and the police here still have no idea where the booty — roughly $2 million worth of Bitcoin-mining computers — is stashed.
Stephanie Landsman – CNBC
Wall Street’s first analyst to cover bitcoin has a new recommendation for investors: Avoid it.
DataTrek Research co-founder Nick Colas cited lackluster fundamentals surrounding what he calls the “FANG stock of the crypto world.” FANG, references Facebook, Amazon, Netflix and Alphabet’s Google, the highest flying and most widely held tech stocks.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News