Blockchain Daily News – Edition 205, 09.05.2018
May 9, 2018
Blockchain Daily News – Edition 207, 11.05.2018
May 11, 2018

Blockchain Daily News – Edition 206, 10.05.2018

Fans’ Section

Why Mark Zuckerberg Just Put Some Of His Best Execs On Blockchain

Ari Levy – CNBC

Mark Zuckerberg is highly adept at addressing Facebook’s greatest threats. He spent $1 billion on Instagram because that’s where young people were posting photos. After getting rebuffed by Snapchat, he shelled out a whopping $19 billion for WhatsApp to make sure Facebook had a leading messaging platform. And to address Facebook’s weakness in consumer devices, he plopped down $2 billion for Oculus.

FAO: I see it as a reaction after Telegram’s recent blockchain moves. More on this topics yesterday. What do you think? Let’s chat on our Linkedin & Telegram groups!

Deals & Investments

China Bitcoin Miner Canaan Creative Ditches US For Hong Kong IPO

Yingzhi Yang – SCMP

Canaan Creative, China’s second-largest bitcoin mining hardware maker, is planning to seek an IPO in Hong Kong instead of the US, which if successful would make it the first blockchain-related company to list on the city’s bourse, according to people familiar with the matter.

The Wealthy Are Hoarding $10 Billion Of Bitcoin In Bunkers

Tom Metcalf – Bloomberg (subscription)

Behind the guards, the blast doors and down corridors of reinforced concrete, sit the encrypted computer servers — connected to nothing — that hold keys to a vast digital fortune.

Argentine entrepreneur Wences Casares has spent the past several years persuading Silicon Valley millionaires and billionaires that Bitcoin is the global currency of the future, that they need to buy some, and that he’s the man to safeguard it. His startup, Xapo, has built a network of underground vaults on five continents, including one in a decommissioned Swiss military bunker.

FAO: This story surely made some waves. Yet another proof that the cryptoverse is maturing.

Crypto Hedge Fund Pantera Says Returns Outpaced Bitcoin In April

Lily Katz – Bloomberg (subscription)

The hedge fund’s Digital Asset Fund surged 46% last month, compared with a 31% gain registered by the biggest digital coin, Pantera said in an investor letter Wednesday, citing “dynamic trading” for the strong performance.

Exchanges & Trading Venues

Bytecoin Network Congests Just As Trading Took Off On Binance

Christine Masters – Cryptovest

Bytecoin Value Jumps 32-Fold Then Crashes – Some Cry Scam

Simon Golstein – Finance Magnates

Binance’s Coin Listing Policy Raises Questions

Kai Sedgwick – Bitcoin.com

As one of the oldest and least fashionable cryptocurrencies on the market, bytecoin was an unexpected addition to Binance. The exchange is more accustomed to listing the latest “must-have” tokens such as Wanchain, but appears willing to add any coin if the price is right. The addition of bytecoin, as well as other recent listings, has had some traders scratching their heads. BCN is a controversial coin due to an allegedly huge pre-mine when it launched in 2014. It then effectively disappeared off the radar before resurfacing last year.

FAO: Did the Bytecoin bit you?

Major Cryptocurrency Exchange Lands In Chicago

Lynne Marek – Chicago Business  

Coinbase is planning to open an office in Chicago sometime soon, and it has already begun hiring employees in the city. The San Francisco-based company has tapped former CME Group executive Paul Bauerschmidt as its “product lead” in Chicago and has posted ads for other Chicago positions on its website. Bauerschmidt, who was head of CME’s swap execution facility from 2013 to 2015, declined to comment, saying the company expects to have an announcement soon.

FAO: Coinbase opening an office in Chicago was previously discussed last week. But Lynne managed to grab some names too. Good!

Steve Hunt,The Former Tech Chief At Secretive Trading Firm Jump Has Joined Kraken As Raid On Wall Street Talent Continues In Crypto

Frank Chaparro – Business Insider (subscription)

Steve Hunt, the former CTO at secretive trading firm Jump Trading, has been hired by Kraken, people familiar with the hire told Business Insider. Hunt was hired by the exchange, which is based in San Francisco, as its vice president of engineering, the people said.

FAO: As you can see the hunt for exchange and trading professionals is in full swing. Kraken, one of the top crypto exchanges in the US and in the world joins this hunt, in its mission to (at least) stay alive after big players like ICE and Nasdaq will have entered the crypto (cash?) markets. But Coinbase, Circle and Kraken are not the only ones seeing the future threat. Here comes bitFlyer which recently announced it was launching its operations in Europe…hence the new European staff…

Japan’s Bitcoin King Poaches Wall Street Talent For Crypto Empire

Yuji Nakamura, Hideki Sagiike & Takahiko Hyuga – Bloomberg (subscription)

Yuzo Kano is trying to build a global cryptocurrency powerhouse, one former financier at a time. The Goldman Sachs alumnus, who turned bitFlyer into Japan’s largest Bitcoin exchange, is scooping up traders and bankers from both his old employer and former rivals as he embarks on an ambitious international expansion.

DNT: Pretty impressive evolution of Kano’s team which includes a former fixed-income desk head at Barclays and an ex-senior private banker at Credit Suisse and it has doubled to more than 150 people in the past six months. More, it is on pace to top 300 before year-end, the story informs.

Cryptocurrencies

Bloomberg & Galaxy Digital Capital Management Launch Cryptocurrency Benchmark Index

Bloomberg

Bloomberg, together with Galaxy Digital Capital Management, launched the Bloomberg Galaxy Crypto Index. The index is designed to track the performance of the largest, most liquid portion of the cryptocurrency market. The BGCI is market capitalization-weighted and measures the performance of ten USD-traded cryptocurrencies, including Bitcoin, Ethereum, Monero, Ripple, and Zcash.

Crypto Exchange Coinone Taps Ripple for New Remittance Service

Sujha Sundararajan – CoinDesk

South Korean cryptocurrency exchange Coinone is turning to Ripple’s enterprise blockchain network for cross-border payments. Coinone Transfer, an arm of the exchange that focuses on remittances, joined RippleNet, making it the first exchange in the nation to do so. The firm will be using xCurrent, one of Ripple’s three blockchain solutions, a press release states.

BitPeople

Via Markets Media – The digital asset market vendor tZero CEO Patrick Byrne has issued a letter to stockholder announcing that he is stepping down as CEO.

Dash CEO Ryan Taylor is Target of Social Media Hack Attack

JD Alois – Crowdfund Insider

Digital Currency Dash CEO Ryan Taylor has been hacked. According to a statement released by Dash reps Taylor was the target of a concerted attack that impacted not just his Twitter account but LinkedIn and perhaps his cell phone too.

FAO: Ooops…Did someone “dash” with his identity?

Latest Developments & Agreements

Ethereum Summit Attendees Commit To Governance Plan

Wolfie Zhao – CoinDesk

Organizers behind the EIP:0 Summit committed to four new governance steps according to a statement. Notably, Parity Technologies, Aragon and the Web3 Foundation have already pledged their support in signing the statement of intent.

China To Set Up National Standards For Blockchain

Christopher Udemans – Tech Node

China has begun establishing national standards for blockchain technology, hoping to complete the process by the end of 2019. While cryptocurrencies and ICOs are prohibited in China, both regional and national governments have shown increasing support for the technology behind these platforms. Chinese authorities are looking at implementing top-level, or “top down,” standards to compete in the global market.

Regulation

Tax Dragnet For Crypto Traders Reaches Spanish Bank Clients

Todd White & Charlie Devereux – Bloomberg (subscription)

A number of cryptocurrency investors in Spain have found their identities were traced by tax authorities, and they’ve solicited their banks’ help to prove no wrongdoing.Several Spanish lenders have received requests from customers for account documentation in order to respond to inquiries from the tax agency.

Shadow Crypto Trades A Challenge For Regulators, Financial Services Chief James Lau Says

The Standard

Regulators will need to come to grips with whether bitcoin or cryptocurrency transactions should require counterparties to go through a KYC process, the Hong Kong Financial Services and Treasury Secretary, James Lau, said.

Colorado Passes Bill to Encourage DLT Use

Anatol Antonovici – Cryptovest

The State of Colorado passed a law that encourages the implementation of blockchain. The bipartisan Senate Bill 86 sets the standard for the use of cyber coding cryptology for state records.

Accelerators & Hubs

Bermuda’s Blockchain Strategy Goes Beyond Just Winning New Business

Annaliese Milano  – CoinDesk

When it comes to regulating blockchain tech, bigger isn’t always better – at least that’s the thesis driving Bermuda’s nascent regulatory efforts. “Small ships can turn quickly. That’s the beauty of Bermuda,” Premier David Burt told CoinDesk.

Analysis

The Biggest Cryptocurrency Hacks In History

Sean Williams – The Motley Fool

A list of the largest cryptocurrency hacks in history, in ascending order, based on the value of the hack at the time it occurred.

FAO: Of course, the recent Coincheck hack is the largest…

Other news

De Beers Tracks First Gems From Mine To Shop Using Blockchain

Thomas Biesheuvel – Bloomberg (subscription)

De Beers, which is piloting a scheme using blockchain to create a virtual ledger of diamond sales, said that 100 high-value stones were tracked through the cutting, polishing and manufacturing process to a final retailer. The company plans to roll out the platform later this year.

FAO: Already running tests, De Beers announced its blockchain strategy last year.

Opinion

JP Morgan’s New DLT Lead: We’re Not Done With Blockchain Innovation

Ian Allison – CoinDesk

As JP Morgan Chase’s new blockchain lead, Christine Moy has big shoes to fill. And a quandary to resolve.

Hedge Fund Vet: Cryptocurrency Is The People’s Revolution

CNN (video)

Mike Novogratz, CEO and Founder of Galaxy Digital Capital Management explains what type of investor should invest in cryptocurrency.

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News