Blockchain Daily News – Edition 245, 06.07.2018
July 6, 2018
Blockchain Daily News – Edition 247, 10.07.2018
July 10, 2018

Blockchain Daily News – Edition 246, 09.07.2018

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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Fans’ Section

Stiglitz, Roubini And Rogoff Lead Joint Attack On Bitcoin

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.

CBOE Global Markets Applies For New Bitcoin ETF License

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.

Deals & Investments

Sequoia China, EDBI Back Bitmain’s Series B Round Of Up To $400m Bitmain

Ardi Wirdana – Deal Street Asia

Chinese Crypto Mining Giant Bitmain Valued at $12B In New Funding Round

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.

Bitmain Expands Circle of Influence With $50 Million Investment

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.

Korean Banks’ Investment In Crypto-Assets Totals 2 Tln Won In 2017

Yonhap

Korean Banks Held $1.79 Billion In Crypto During The 2017 Bull Run

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.

Exchanges & Trading Venues

Coinbase CTO Balaji Srinivasan Says The Company Is Like A Mullet

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.

Local Crypto Exchanges Are Circumventing India’s New Bitcoin Ban: Here’s How

CCN

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.

Trading Giant eToro To Launch Crypto Exchange, Competing Against Major Platforms

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.

Cryptocurrencies

Facebook Gets A Director Of Blockchain’ — Will A ‘Zuckbuck’ Follow?

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.

DNT: We reported Evan Chang’s appointment, here, BitPeople section.  

BitPeople

Winklevoss Crypto Exchange Gemini Hires NYSE Technology Executive Robert Cornish

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.

Five Universities Offer Crypto Courses in Spain, Argentina And Venezuela

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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Associations & Federations

FINRA Wants to Know All About Member Firms’ Crypto Activities

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.

Events

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Analysis

Why Bitcoin Uses So Much Energy

The Economist

Its consumption is roughly the same as Ireland’s.

Bitcoin’s Inherent Economics Could Keep It From Ever Being Very Important

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.

Blockchain For IoT: A Big Idea Meets Hard Design Questions

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.

Other news

Future Utopias In A Blockchain World

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.

Sichuan Floods Blamed As Cryptocurrency Mining ‘Hashrate’ Dips

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.

Opinion

Early Uses Of Blockchain Will Barely Be Visible, Says Hyperledger’s Brian Behlendorf

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.

RIP “Crypto”

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