Blockchain Daily News – Edition 234, 21.06.2018
June 21, 2018
Blockchain Daily News – Edition 236, 25.06.2018
June 25, 2018

Blockchain Daily News – Edition 235, 22.06.2018

Time for your daily blockchain dosis brought to you by Editor-in-chief Florin Adrian Oprea (FAO) & Editor Decebal Nicolaie Todarita (DNT)! 6 hours of our work for 6 minutes of your time! We have read the Blockchain news for you, so scroll down to read the best (STILL FREE) daily newsletter in this industry!

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Fans’ Section

Japan Watchdog Orders Improvements At Cryptocurrency Exchanges

Thomas Wilson – Reuters

ML Shake-Up at 6 Crypto Exchanges

Wolfie Zhao – CoinDesk

BitFlyer, Japan’s Largest Crypto Exchange Halts New Account Creation

Adam Samson – Financial Times (subscription)

BitFlyer has stopped accepting any new customers after the Japanese financial regulator ordered the country’s biggest cryptocurrencies exchange to improve its procedures. The group said that it received the orders from Japan’s Financial Services Agency today. Several other Japanese cryptocurrencies companies were also hit with similar orders, according to the FSA’s website. (ED. Note – link in Japanese).

DNT:  Problems in Japanese crypto paradise? We will watch closely the effects of this decision next week.

Cryptocurrencies Too Primitive For National Money

Matthew Allen – Swissinfo

Swiss Central Bank Exec Thomas Moser: Crypto ‘Too Primitive’ To Issue State Digital Currency

Ana Alexandre – Cointelegraph

Board director of the Swiss National Bank Thomas Moser said that cryptocurrencies and blockchain technology are too primitive to consider issuing a state-backed digital currency, local news outlet swissinfo.ch reported.“Something similar has to happen with bitcoin. People will only switch to something new if it works better or is cheaper.”, he said.

DNT: “Primitive” sounds like a hard word…At  least for me. But we all have the right to express ourselves. What do you think?  Share your ideas on our Facebook, Linkedin & Telegram groups

Ethereum Billionaire Anthony Di Iorio  Looks To China For Next Big Crypto Winners

Natalie Wong – Bloomberg (subscription)

Anthony Di Iorio hasn’t stopped looking for bargains in the digital-currency world after amassing a fortune of as much as $1 billion from his early investment in Bitcoin and as a co-founder of Ethereum.“The biggest stake for me is in Qtum and VeChain right now, the two Chinese projects,” Di Iorio said.  “There’s much more opportunity in newer ones if you can identify them.”

DNT:  Meanwhile, Anthony Di Iorio has bought the largest and one of the most expensive condos in Canada:  the three-story penthouse at the St. Regis Residences Toronto, in a deal valued at for C$28 million ($21 million). Details in our yesterday’s edition.

Deals & Investments

Fiat-Backed Cryptos Wooing Money Managers And Undercutting Other Stable Coins

Kenneth Rapoza – Forbes

No surprise, a company you’ve never heard of called TrustToken launches the latest digital coin dedicated to the crypto-asset investor—the audited, fiat-backed cryptocurrency TrueUSD—and raises $20 million from traditional venture capitalists. In this case, a group of eight led by brand-namers Andreessen Horowitz, the VC firm of Web browser billionaire Marc Andreessen and Silicon Valley staple Ben Horowitz.

Exchanges & Trading Venues

Bitcoin Sellers Claim They Are Being Denied Banking Services By Irish Lenders

Charlie Taylor – The Irish Times

Irish Bitcoin Broker Claims Country’s Banks Are Closing Crypto-Related Accounts

Helen Partz – Cointelegraph

The co-founder of Irish Bitcoin broker Eircoin accused the Banking and Payments Federation of Ireland of discriminating against crypto-related accounts, The Irish Times reports Dave Fleming blamed the BPFI for, “seeking to muddy the waters with insinuations of dirty money.”

These Coinbase Customer Complaints Submitted To The SEC Are Depressing As Hell

Jack Morse – Mashable

In 134 pages of complaints filed to the SEC and the California Department of Business Oversight a picture emerges not of a responsible actor in the cryptocurrency space opening the market to new investors, but rather a company overwhelmed by and underprepared for its own success. And the consequences — as expressed by Coinbase’s own customers — are enough to give even the most diehard crypto-enthusiast pause.

Bithumb Working With Other Crypto Exchanges To Recover Hacked Funds

Daniel Palmer   – CoinDesk

Korean Government Launches Investigation Into Crypto Hacks

Kevin Helms – Bitcoin.com

Following the alleged hacks of South Korean crypto exchanges, the government has formally launched an investigation into the cause of the hacks. The authorities will also perform security checks on all crypto exchanges’ systems.

DNT:  A a normal and expected reaction after two SK crypto exchanges were hacked in the last two weeks: Coinrail – details here and Bithumb – details here.

Cryptocurrencies

Crypto Panic Strikes Again As India’s Banks Are About To Stop Dealing With Cryptocurrency Related Companies

Tanya Abrosimova – FXStreet

India’s largest exchange Zebpay announced that in accordance with Reserve Bank of India directive issued on April 5, banks are about to stop dealing with virtual currencies and terminate the accounts of the crypto related companies. This will cut off the exchanges from banking services. Panic caused a flash crash on Indian cryptocurrency trading platforms and triggered massive sell-off.

Why Ripple Thinks Coinbase Should Add Cryptocurrency XRP

Jen  Wieczner –  Fortune

Ripple CEO Defends XRP Token’s Utility At Fintech Conference

Nikhilesh De & Madeline Meng Shi – Coindesk

“Let’s be clear: Ripple is different than XRP,” Brad Garlinghouse, CEO of Ripple, argued during CB Insights’ Future of Fintech conference. Garlinghouse opened his talk by pushing back against arguments that the XRP cryptocurrency may be considered a security, given its close link to the San Francisco-based company. He also spoke about the work the company has done to date in partnership with a range of banks and financial firms.

Crypto Mining Mogul Valery Vavilov Hits The Big-Time With Portable Mining Containers

John McMahon – NewsBTC

Serial crypto entrepreneur Valery Vavilov of Bitfury has struck gold again with his latest venture by solving two of the main hurdles in mining cryptocurrency with some big black boxes. The Black Boxes which are sea containers that have been converted into giant, portable mining rigs hold one hundred thousand of Bitfury’s signature microchips and are able to mine an average of fifteen tokens per month.

Quebec Asks Crypto Miners How Much They’ll Pay For Electricity

Sandrine Rastello – Bloomberg (subscription)

Cryptocurrency miners’ appetite for cheap electricity is being put to the test by Quebec.

Under rules proposed by provincial utility Hydro-Quebec, blockchain companies will be required to bid for power and spell out the jobs and investment per megawatt that they will generate. The starting bid is 1 Canadian cent ($0.0075) per kilowatt hour above the rate the industry had previously enjoyed — roughly a 20% increase.

DNT: The crypto miners appetite for electricity in Quebec turned lately into a real problem. Check our FREE ARCHIVE for more data on this topic.

Vendors

Cheetah’s New App Lets Crypto Investors Track Portfolios On The Go

Wolfie Zhao  – CoinDesk

Cheetah Mobile, a Beijing-based app developer, announced that it’s releasing an app aimed to make it simpler for investors to monitor their cryptocurrency portfolios.Dubbed Coin Master, the mobile app – available for both iOS and Android – will track the real-time prices of cryptocurrencies on over 100 exchanges and automatically calculate overall losses or profits after users update their trading histories.

US Companies Like Micron Are Accusing China Of Intimidation And Outright Theft To Dominate Tech

Paul Mozur – CNBC

Micron, an American chip maker, says its designs were swiped to help a new Chinese plant. Washington sees a larger pattern, fueling tensions with Beijing.

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Latest Developments & Agreements

Bloomberg Terminal Lists Crypto Market Index From World’s Third Largest Exchange Huobi

Molly Jane Zuckerman – Cointelegraph

Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi’s Cryptocurrency Index, according to a press release. Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether, including Bitcoin, Litecoin, Bitcoin Cash, Ethereum Classic, Ripple Dash, EOS and ZCash.

Ripple, Monero Find New Storage Option With Edge Mobile Wallet

PRNewswire

Edge, the secure mobile multi-asset wallet announced the first of it’s kind to offer support for the cryptocurrencies Monero and Ripple. While the communities of Ripple and Monero are growing, they still face the issue of how to hold or use their currency. With Edge allowing the currencies to be stored and exchanged on a mobile phone, they are driving mainstream adoption.

Events

25-29 June 2018, Frankfurt, GermanyBlockchain 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.

Analysis

Cryptocurrency Markets Are Juicy Targets For Hackers: Timeline

South China Morning Post

More than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants in the cryptocurrency sector.

Cryptocurrencies And Blockchain Are Not The Road To Riches For All

Andrew Sheng – SCMP

Technology has created lots of jargon that most of us don’t understand. Most of us have mental blocks against new things that we don’t understand. Some people are born clever. Some become clever through hard work. But many appear clever by using jargon others don’t understand.

Other news

Is Blockchain Hype Good For Bitcoin?

Hans Hauge – Seeking Alpha

Bitcoin has many necessary parts that are just as important as the blockchain.What would happen if we tried to tinker with the Bitcoin formula?Misunderstanding blockchain leads to irrational exuberance, but there are positive externalities to consider.

Opinion

Bobby Lee, ‘BTC Maximalist’: Bitcoin’s Value Is In The Eye Of The Beholder

Molly Jane Zuckerman – Cointelegraph

Bobby Lee — co-founder of Chinese crypto exchange BTCC and a board member at the Bitcoin Foundation – speaks about what he’s been up to in the crypto space since BTCC shut down last fall.

Blockchain: A Diamond In The Rough For Mining Companies?

Bloomberg (video)

Lucara’s 100% owned Karowe diamond Mine, located in Botswana, has been in production since 2012 and is one of worlds’ foremost producers of large, Type IIA diamonds in excess of 10.8 carats, including the 1,109-carat Lesedi La Rona, the biggest gem found in more than a century that was sold for $53 million in 2017. Its CEO Eira Thomas talks about diamonds, blockchain technology and boardroom diversity.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News