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Portia Crowe – Financial News
Jamie Dimon called bitcoin a “fraud”. Lloyd Blankfein said it was “not for me”. Just a few months later, their respective banks, JPMorgan and Goldman Sachs, are dipping their toes in the cryptocurrency waters. One explanation for their perceived change of heart?
“There’s a lot of money to be made,” said Greenwich Associates’ Richard Johnson.
DNT: Of course. Did you ever think otherwise?
And since we’re discussing the future of Wall Street again…
Alastair Marsh – Bloomberg (subscription)
Whether cryptocurrencies and the technology that powers them will reshape the financial system remains to be seen. What’s not in doubt is their ability to transform the career paths of bright young minds on Wall Street.
Matthew J. Belvedere – CNBC
Mohamed El-Erian sees a world one day that eschews paper money in favor of digital payments that could include government-issued cryptocurrency.
FAO: Here comes El-Erian, again. I see a pattern here. He talks about cryptos every 6 months or so…
Paul Vigna – The Wall Street Journal (subscription)
A start-up company based in the Cayman Islands is on track to raise more than $4 billion through a yearlong sale of digital tokens—the largest fundraising of its kind. What buyers of the tokens still don’t know: how the company, block.one, will use the bulk of the windfall from its so-called ICO.
FAO: All eyes on EOS these days. A giant in the making? Not without some difficulties, check the next section too…
Jeff John Roberts – Fortune
Dfinity, a blockchain project that aspires to challenge Amazon Web Services, said it will distribute approximately $35 million worth of digital tokens as part of its plan to create a “Cloud 3.0.” The token distribution as an “air drop” — amounts to a windfall for early backers of the Dfinity project, who will be able to hold on to the tokens or sell them on a secondary market.
Wolfie Zhao – CoinDesk
Qihoo 360, a China-based internet security firm, says it has notified the EOS blockchain project about “a series of epic vulnerabilities” discovered on its platform. The firm said in a report that loopholes found in the EOS platform could expose nodes on the network to attackers, giving them the ability to execute code remotely and take “full control” of transactions.
Annaliese Milano – CoinDesk
Ethereum classic has removed its so-called “difficulty bomb.” Designed to increase the difficulty of mining its blockchain over time, the code was a feature of the original ethereum codebase (which later split into ethereum classic and ethereum) in 2016. The successful network upgrade took place at block 5,900,000, according to available network data and statements from developers involved in the project.
Robert J. Shiller – Financial News (subscription)
The cryptocurrency revolution, which started with bitcoin in 2009, claims to be inventing new kinds of money. There are now nearly 2,000 cryptocurrencies, and millions of people worldwide are excited by them. What accounts for this enthusiasm, which so far remains undampened by warnings that the revolution is a sham?
Olga Kharif – Bloomberg (subscription)
Motherboard reports that Verge, Monacoin, and Bitcoin Gold have all recently fallen victim to the dreaded “51% attack,” a nightmare scenario in which a miner or mining group obtains a majority of the network’s power to approve new transactions. An estimated $20 million was lost as a result.
FAO: What doesn’t kill you makes you stronger!
John Detrixhe – Quartz
Hackers are increasingly hijacking computers to secretly mine crypto assets. Such exploits surged last year, according a survey by IBM Managed Security Services. One recently discovered malware program is hiding itself on Amazon’s cloud to steal processing power from a fleet of ordinary computers.
Nikhilesh De – Coindesk
Austria’s Financial Market Authority announced that it had “prohibited the business model of INVIA GmbH,” a mining firm, claiming that it was offering an unauthorized Alternative Investment Fund in violation of the Austria Banking Act. However, the full investigation into the company has not yet been completed, according to a press release.
Via CoinDesk – BitGo has hired former Bloomberg Tradebook executive, Josh Schwartz, to serve as its new vice president of sales.
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Shinjae Yoo & Hyeong-joong Yoon – CoinDesk
FAO: Kakao said it will unveil its own open blockchain platform within the year, but won’t issue its own coin. You can read more about the company’s plans to get into crypto here, Future Stars section.
Stan Higgins – CoinDesk
Reuters Staff – Reuters
The U.S. SEC said it had won an emergency court order halting an alleged fraud involving an ICO that raised as much as $21 million from investors in the United States and elsewhere. The court also approved an emergency asset freeze and the appointment of a receiver for Titanium Blockchain Infrastructure Services, the firm behind the alleged scheme, the SEC said.
Rosemary Fanelli – Forbes
The rapid ascent of cryptocurrency valuations caught even the most astute regulators off-guard, and they are scrambling to understand the risks and provide guidance.
18-19 June 2018, New Delhi, India – our Publisher and Editor-in-chief, Florin Adrian Oprea (FAO), is invited to speak at the 6th Annual Meeting of The Growth Net, 18-19 June 2018, at the Taj Diplomatic Enclave, New Delhi, India. Join him for a constructive debate about the impact of blockchain technology beyond the use of cryptocurrencies. Being a reader of our daily publications you now have the opportunity of buying discounted tickets – more HERE (do note that a significant discount is applied!).
25-29 June 2018, Frankfurt, Germany – Blockchain Daily News is a Media Partner of Crypto Startup School, a summer school jointly organized by The Frankfurt School Blockchain Center and the German Tech Entrepreneurship Center. The event will take place from 25th – 29th of June 2018 on the campus of the Frankfurt School of Finance and Management.
Tickets can be purchased HERE and because you are a reader of our daily publications, you can use this voucher code NEWS-BCA-CSS2018 for a 10% discount.
Weiss Ratings, has released its list of 93 cryptocurrency ratings for free this week — with Bitcoin, Cardano, EOS, Ethereum, Ripple, Stellar, and TRON coming out on top.
Nir Kshetri – The Wall Street Journal (subscription)
Commonly associated with bitcoin and other cryptocurrencies, blockchain has the potential to solve many cybersecurity problems and provide a built-in defense against cyberattacks. Before that can happen, however, it has to overcome some serious limitations.
Bailey Reutzel – CoinDesk
Perhaps nowhere else within the cryptocurrency space have scammers become more frustrating than on crypto Twitter.
Brad Stone & Julie Verhage – Bloomberg (subscription)
The true identity of Satoshi Nakamoto, the unknown creator of the cryptocurrency bitcoin, is one of the tech industry’s biggest unsolved mysteries. This week on Decrypted, Bloomberg Technology’s Brad Stone and Julie Verhage ask the journalists who tried to find Satoshi why this secretive genius remains so elusive. And now that bitcoin is a global phenomenon, does unmasking Satoshi still matter anyway?
DNT: What do you think about this? Does the identity of Satoshi matter so much for cryptoverse? How can it influence, in the eventuality of unmasking, the evolution of BTC? Share your ideas on our Facebook, Linkedin & Telegram groups!
David Meyer – Fortune
The German authorities have just made around $14 million from the sale of Bitcoin and other cryptocurrencies that they seized in criminal investigations. It was an emergency sale, according to a Monday report in the Tagesspiegel (Ed. note – link in German) because the Bavarian justice treasury was concerned about the wild fluctuations in cryptocurrency prices.
FAO: A typical case of German pragmatism…
Kellie Ell – CNBC
The answers to which way the market will move next may lie in bitcoin, said Brian Stutland of Equity Armor Investments.
Frank Chaparro – Business Insider
Crypto markets are making a big comeback as political uncertainty grips Italy and Europe.
Jemima Kelly – FT Alphaville (subscription)
FAO: Are they?
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News