Today’s Highlights: Three of the world’s most respected economists have led a joint attack on bitcoin, CBOE applies for new Bitcoin ETF license, Chinese cryptocurrency mining equipment producer Bitmain has been valued at approximately $12 billion & SK commercial banks held nearly $2 billion USD worth of cryptocurrencies during the 2017 bull run
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Chris Newlands – Financial News (subscription)
Three of the world’s most respected economists have led a joint attack on bitcoin, claiming the digital currency will be “regulated into oblivion” as governments globally move to clamp down on money laundering. Joseph Stiglitz, Nouriel Roubini and Kenneth Rogoff have renewed their assault on the cryptocurrency believing it will be subject to further sharp and damaging falls as authorities crack down on criminals using bitcoin to launder money and avoid taxes.
Celeste Skinner – Finance Magnates
The SEC has received an application for a Bitcoin exchange-traded fund license from Chicago Board Options Exchange Global Markets. Whilst other applications have been turned down by the watchdog, a Bitcoin ETF looks like it will have a better chance of success.
Ardi Wirdana – Deal Street Asia
Deyana Laguna – Cryptovest
Chinese cryptocurrency mining equipment producer Bitmain has been valued at approximately $12 billion following a Series B funding round, local news outlet Caixin reported, citing anonymous sources familiar with the matter. Bitmain has reportedly raised between $300 million to $400 million from Sequoia Capital subsidiary Sequoia China, US hedge fund Coatue and Singapore-based governmental investment fund EDBI.
Nick Chong – News BTC
The world’s largest producer of ASIC mining machines, Bitmain, is expected to invest $50 million into the upcoming IPO of Opera Ltd. Norway-based Opera Ltd., one of the top internet browsers, has just filed for a Nasdaq IPO last week, in an attempt to raise up to $115 million in financial capital.
Joseph Young – Cryptoslate
Yonhap, a mainstream media outlet in South Korea, reported that commercial banks in the country held nearly $2 billion USD worth of cryptocurrencies during the 2017 bull run.
Megan Rose Dickey – TechCrunch
Cryptocurrency exchange Coinbase is the go-to place for buying and exchanging cryptocurrencies — as long as you’re fine sticking to Bitcoin, Litecoin, Ethereum and Bitcoin Cash. But Coinbase is actively looking at adding support for additional cryptocurrencies, Coinbase CTO Balaji Srinivasan said.
According to Coindelta co-founder Shubham Yadav, cryptocurrency exchanges in India can no longer process fiat-to-crypto trades and have shifted their business model to crypto-to-crypto trading.
Tim Copeland – News BTC
Social trading network eToro will release their crypto wallet by next month ahead of their exchange launch set for Q4 2018.
Georgi Georgiev – Bitcoinist
Facebook appears to be strengthening its interest towards blockchain technology and possibly its own cryptocurrency as the world’s largest social media platform just appointed Evan Chang as its very first Director of Engineering, Blockchain.
Nick Baker – Bloomberg (subscription)
The Gemini cryptocurrency exchange hired Robert Cornish from the New York Stock Exchange to serve as its first chief technology officer, making it the latest digital-asset business to bring in an executive with expertise serving professional investors and traders.
Kevin Helms – Bitcoin.com
Five universities across three Spanish-speaking countries are now offering crypto courses. Among major topics of studies are Bitcoin, Ethereum, cryptocurrencies, blockchains, initial coin offerings, smart contracts, DAOs, and crypto-economics.
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Wolfie Zhao – CoinDesk
A U.S. self-regulatory body for broker-dealers is requesting member firms to submit a wide range of details relating to their cryptocurrency-focused activities. In a regulatory notice the Financial Industry Regulatory Authority said the requested information will supplement its existing efforts to “ascertain the extent of its member firms’ involvement” in the nascent space.
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Its consumption is roughly the same as Ireland’s.
Mike Orcutt – Technology Review
A new analysis shows how the cost of securing Bitcoin will constrain its growth.
If you believe Bitcoin has the potential to replace traditional global financial systems, a new economic analysis is here to rain on your parade.
Ian Allison – CoinDesk
One of the most ambitious ideas in blockchain is that the technology could enable not just people and businesses to transact with each other seamlessly, but also machines. If this scenario, first articulated a few years ago, comes to pass, devices ranging from refrigerators to automobiles would not only collect and share data as part of the emerging internet of things, they would also be endowed with cryptocurrency wallets and unique, blockchain-based identities.
Stephen Webb – Bitcoinist
Cryptocurrency run ‘utopias’ are popping up on both land and sea. these blockchain backed projects, outfitted with sustainability technology, paint a possible look into the future.
Louise Lucas & Emily Feng – Financial Times (subscription)
Extreme weather conditions have claimed a new victim — cryptocurrency miners. A combination of floods in Sichuan and heatwaves in Europe last week briefly dented the global “hashrate”, which measures crypto mining capacity — and offered a glimpse of what might happen if China succeeds in wiping out its bitcoin mining industry.
Jon Russell – TechCrunch
The blockchain revolution is coming, but you might not see it. That’s the view of Brian Behlendorf, executive director of the Linux Foundation’s Hyperledger Project.
Natasha Lomas – Techcrunch
Crypto.com now points to cryptocurrencies. Which seems a fitting moment to say RIP “crypto” as shorthand terminology for an entire domain of cryptographic work that underpins so many more things than just Bitcoin or Ether or Ripple or Litecoin or Zcash — or any of the myriad digital coins that have winked (and more recently minted) into virtual existence over the last decade or so, hoping to hit the crypto jackpot.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News