Today’s Highlights: Key passages From Satoshi Nakamoto excerpt on Bitcoin beginnings, ICO fundraising surges In 2018, Square Ventures has big plans to profit on a potential trillion-dollar business in blockchain and crypto in 10 years, Qiwi execs are launching a crypto & investment bank & Switzerland looks to liberalise cryptocurrency banking access
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Matthew Leising – Bloomberg (subscription)
Matthew Leising – Bloomberg (subscription)
Here are key passages from the book excerpt purportedly written by Satoshi Nakamoto, the unknown person or people who created Bitcoin. Bloomberg News has been unable to independently verify its authenticity, though the amount of detail in it is unusual. Text is taken verbatim without correcting for syntax or grammar.
Paul Vigna, Shane Shifflett & Caitlin Ostroff – The Wall Street Journal (subscription)
Investors have continued to pour money into cryptocurrency startups this year through a controversial fundraising method despite a regulatory crackdown that threatened to stifle the nascent market. ICOs raised $11.8 billion this year through May, more than double the $5.5 billion such offerings raised in all of 2017, according to a WSJ analysis of nearly 900 offerings listed on ICOBench.com.
DNT: And will continue…
Union Square Ventures has big plans to profit on a potential trillion-dollar business in blockchain and crypto in 10 years. But those plans won’t include starting a separate fund, according to a top executive.“We’re not planning to do it,” Albert Wenger, managing partner at Union Square Ventures told CNBC. “We see a lot of upside to keeping it under the same roof.”
Anna Baydakova – CoinDesk
Executives at the blockchain arm of Qiwi, one of the largest e-payment providers in Russia, are launching a crypto investment bank, called HASH, to advise investors and help domestic companies tokenize their assets once appropriate regulations are in place.
DNT: Branded as “the first crypto investment bank in Russia”, HASH will manage clients’ ICOs, help them build their blockchain networks and raise funds, we learn from the story.
Hayley McDowell – The Trade
Blockchain technology specialist trade.io has confirmed it will launch its flagship exchange on 17 July, with 1,000 people gaining access to the BETA platform on the day.
io’s chief executive, Jim Preissler, made the announcement and said the firm is also hoping to launch its liquidity pool following the launch of the new exchange.
Marie Huillet – Cointelegraph
The rehauled crypto exchange is now live, offering trading for Bitcoin, Bitcoin Cash, Ethereum and Litecoin against the U.S. dollar, as well as crypto-to-crypto pairings.The new site advertises a points-based system for users, who will earn points that will later be redeemable for a new, native BTCC token, whose release date remains unspecified.
Wolfie Zhao – CoinDesk
A change to the rules for voting on new token listings has caused a backlash against Huobi’s HADAX cryptocurrency exchange platform.
Todd White & Eddie van der Walt – Bloomberg (subscription)
Bitcoin jumped on Monday, giving a positive jolt to a digital-coin market that had lost about half of its value since early May.
Ralph Atkins – Financial Times (subscription)
Switzerland’s fast-growing cryptocurrency industry could have full access to conventional banking services by the end of the year, removing one of the restrictions to future growth, a top Swiss policymaker has said.Traditional banks have so far largely refused to operate accounts for the country’s “crypto valley” start-ups, citing tough anti-money laundering and other rules on managing clients. The new companies, largely clustered around Zug, a small lakeside town near Zurich, have instead turned to banks in Liechtenstein and elsewhere for banking services.
Bruce Love – Financial Times (subscription)
The frenzy that in the past 12 months saw bitcoin soar to a record $19,500 in December and then touch below $6,000 this month has split financial advisers over whether to let their clients invest in cryptocurrencies.
China had a short, whirlwind relationship with Bitcoin before unceremoniously dumping it last September. Now, President Xi Jinping calls the underlying blockchain technology a “breakthrough.”
Molly Jane Zuckerman – Cointelegraph
Sources say that the recent slump in the crypto markets is leading to graphics card suppliers lowering their prices, tech outlet DigiTimes reported.
Malia Spencer – Portland Business Journal
San Francisco cryptocurrency exchange Coinbase confirmed its plans to open a downtown Portland office and offered more details on its Rose City plans.
Kevin Helms – Bitcoin.com
A study by the Ontario Securities Commission reveals that over half a million people, 5% of Ontario residents, currently own cryptocurrencies. The report also shows how they invest, how many owned crypto in the past but not anymore, and details of those investing in tokens.
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Tim Culpan – Bloomberg (subscription)
Securities, or not securities. That is the crypto question. Except in Thailand.While regulators around the world have grappled with the issue of what category digital currencies and assets fall into, Thailand has skipped the debate altogether.Instead, using an emergency decree that came into effect earlier this year, authorities wrote an entirely new law.The result is the Digital Asset Business Decree, which defines both cryptocurrencies (a medium of exchanging goods) and digital tokens (rights to participate in an investment, or to receive specific goods).
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Josh Gnaizda – TechBullion
The sheer number of crypto funds, including hedge funds and venture capital, continues to increase at a record rate. 147 new crypto funds are expected to launch in 2018. In addition, traditional venture capital firms, particularly those focused on fintech and technology, are continuing to add blockchain and cryptocurrency companies to their portfolios.
Ben McLannahan – Financial Times (subscription)
Ranch owners are using blockchain to prove the quality of their cattle as the state passes laws to attract cryptocurrency start-ups.
Kellie Ell – CNBC
BitMEX Co-founder Arthur Hayes remains bullish on bitcoin despite the recent declines below $6,000.He says cryptocurrencies, which are known to be volatile, have moved in price before.Bitcoin will be priced around $50,000 by the end of the year, Hayes predicts.
John Collins – Coindesk
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News