Blockchain Daily News – Edition 242, 03.07.2018
July 3, 2018
Blockchain Daily News – Edition 244, 05.07.2018
July 5, 2018

Blockchain Daily News – Edition 243, 04.07.2018

Today’s Highlights: Binance halts all trading over abnormal crypto transactions, Coinbase is building out a platform meant to better monitor its markets, Crypto exchanges are being censored in Iran  cryptocurrency virtually outlawed in India & there’s a social media firestorm about Tether manipulation claims

Editors’ thoughts today:

Editor-in-chief Florin Adrian Oprea (FAO):  It’s the Fourth of July, and our thoughts today go to our American readers who celebrate the Independence Day! Happy national day and please find some time to read your blockchain daily too! There is a lot of “noise” in the blockchain world, just grab the essential!

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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

Brazilian Football Teams Ink Partnerships With Crypto Startup Inoovi

CCN

Two Brazilian football teams, Atlético-PR and Corinthians, have reportedly recently signed partnerships with Hong Kong-based crypto startup Inoovi, which recently launched its “IVI” token specifically for the sport.

Exchanges & Trading Venues

Binance Halts All Trading Over Abnormal Crypto Transactions

Wolfie Zhao – CoinDesk    

Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended trading services, hours after irregular transactions were reported with a token on its platform..

Binance API Compromised, SysCoin Pumped From Compromised Accounts

Brave New Coin

Shockwaves across crypto markets as Binance hot wallets are compromised and attackers make off with 7000 BTC. After a strong last four days, with the price of Bitcoin rallying to trade above $6,600, it fell by 2.5% in under four hours in the aftermath of the news of an attack on the world’s largest exchange by trading volume.

Coinbase Has Been Working On A New Program To Police Its Markets, And It Has Hired Former New York Stock Exchange Exec Peter Elkins To Lead The Effort

Frank Chaparro – Business Insider (subscription)

Coinbase is building out a platform meant to better monitor its markets. The San Francisco-based firm has brought on Peter Elkins, a former executive at the New York Stock Exchange, to lead the efforts. Elkins, who previously was head of market surveillance at the Big Board, is building out a team for what is known as the Coinbase Trade Surveillance Program.

Coinbase Says Its Problem Days Are Over. Better Business Bureau Disagrees.

Jack Morse – Mashable

They’ve changed. They promise. To hear the San Francisco-based cryptocurrency exchange Coinbase tell it, they’ve turned over a new leaf. Sure, SEC documents revealed scores of customer complaints against them — ranging from allegations of fraud to negligence — but those were in the (very recent) past. These days, insists the company in a series of blog posts and statements to Mashable, Coinbase is a different animal.

Crypto Exchanges Are Suddenly Being Censored In Iran

Leigh Cuen – CoinDesk

“Every crypto exchange in Iran [has been] filtered since May.” That’s how one Iranian bitcoin advocate, speaking on condition of anonymity, described a new wave of government censorship that has cut Iranians off from vital links to the crypto economy ahead of a scheduled renewal of U.S. sanctions in August and November.

Vendors

R3 Plays Down Own Blockchain Product Ahead Of Launch

Yolanda Bobeldijk – Financial News (subscription)

A blockchain startup backed by many of the world’s largest banks does not expect a fast take up of its long-awaited first commercial product after it is unveiled next week.

London-based R3 is set to formally launch its enterprise blockchain product on July 12, head of external affairs Charley Cooper told Financial News.

Extreme Bitcoin Mining Aids An Unexpected Revolution In Iceland

Ragnhildur Sigurdardottir & Nick Rigillo – Bloomberg (subscription)

After devouring nearly as much energy as all of Iceland’s households combined, Bitcoin miners may be about to return something to the community that’s housed them.Iceland is looking past the faddishness of cryptocurrencies and toward other projects that need the same kind of infrastructure that Bitcoin miners rely on. These include areas like deep learning applications for self-driving cars or automatic translators.

BitPeople

Ontario SEC Finds Almost Half Of Crypto Holders Sold All Their Coins

Miguel Gomez – Cryptovest

A study commissioned by the Ontario Securities Commission in Canada spotted some interesting trends inside the local cryptocurrency community that are also valid for other markets. the study found that about half of the 10% of Ontarians that were involved in the cryptocurrency market have already sold all of their coins.

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Regulation

Cryptocurrency Virtually Outlawed In India As Top Court Backs Ban

Upmanyu Trivedi & Rahul Satija – Bloomberg (subscription)

Court Says India’s Crypto Exchange Bank Account Ban Will Continue

Muyao Shen – CoinDesk

India’s highest court has declined to end a ban enacted by the national central bank that bars the country’s crypto exchanges from doing business with regulated financial firms.

Bloomberg reported that the Indian Supreme Court, led by Chief Justice Dipak Misra, said that the Reserve Bank of India’s prohibition on providing services to crypto-related businesses will “remain implemented.”

Five Nations Launch Tax Enforcement Alliance to Tackle Crypto, Cybercrime ‘Threat’

Marie Huillet – Cointelegraph

The US Internal Revenue Service has launched an international taskforce together with tax enforcement authorities from four other countries to take on cryptocurrency-enabled crimes, according to a press release.

FCA Approves Blockchain, Crypto Firms for 4th Cohort of Regulatory Sandbox

Aziz Abdel-Qader – Finance Magnates

The Financial Conduct Authority unveiled the firms that were successful in their applications to begin testing in the fourth cohort of the sandbox. The City regulator has named “a small number” of crypto-linked firms as having been accepted to test their solutions and business models in a live market but controlled environment.

Accelerators & Hubs

Hong Kong Continues Taking Regulatory Action, Hopes to Become International Blockchain

Stephen O’Neal – Cointelegraph

Hong Kong’s Securities and Futures Commission declared in their annual report that they will “keep a close watch” on crypto and IICO. According to the watchdog, the new technology “comes with risks,” which is why they plan to “intervene when appropriate.”

Events

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Analysis

Cryptocurrency Exchange Theft Surges In First Half Of 2018: Report

Gertrude Chavez-Dreyfuss – Reuters

Crypto Exchange Heists Net $761 Million In First Half Of 2018

Steven Melendez – Fast Company

About $761 million worth of cryptocurrency was stolen from exchanges in just the first half of 2018, Reuters reports, citing blockchain security firm CipherTrace.That’s almost triple a roughly $266 million stolen from such exchanges last year, and CipherTrace warns 2018 exchange thefts could rise to as high as $1.5 billion by the time the year is done.

Crypto Money Laundering Up Threefold In 2018: Report

Penny Crosman – American Banker

Three times more cryptocurrency was stolen from exchanges in the first half of 2018 than all of 2017, with a corresponding boost in money laundering related to crypto, according to a report released by CipherTrace.

Building A Blockchain Britain In Bloxwich, because …?

Jemima Kelly – Financial Times (subscription)

Great guys don’t always have very well thought-out ideas.

Other news

Tether on Strings? Crypto Debates Fresh Round of Manipulation Claims

Christine Kim – CoinDesk

As they say, shots were fired. An investigative article raising concerns about possible market manipulation of tether has sparked a social media firestorm, with the dollar-pegged cryptocurrency’s detractors, supporters and seemingly everyone in between weighing in.

DNT: Kraken has responded to a recent article by Bloomberg that argues Tether is being manipulated on their exchange – details in our yesterday’s edition. The Bloomberg article was published on June 29. You can access the story here, Cryptocurrencies section.

Now, if there’s a a social media firestorm, let’s be a part of it! 🙂 Share your thoughts on the topic on our Facebook, Linkedin & Telegram groups.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News