Blockchain Daily News – Edition 253, 18.07.2018
July 18, 2018
Blockchain Daily News – Edition 255, 20.07.2018
July 20, 2018

Blockchain Daily News – Edition 254, 19.07.2018

Today’s Highlights: Federal Reserve Chairman Jerome Powell says cryptocurrencies aren’t big enough to pose a threat, Grayscale crypto funds raised $250 million in assets by the end of June, Citadel’s Ken Griffin says “there’s no need” for cryptocurrencies, all ‘big four’ auditors to trial blockchain platform for financial reporting & Russian crypto owners and Bitcoin miners will not create different tax laws


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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Breaking News

Jerome Powell Says Cryptocurrencies Aren’t Big Enough to Pose a Threat

Olga Kharif – Bloomberg (subscription)

Federal Reserve Chairman Jerome Powell made it clear that the explosive growth in digital money isn’t very high on his list of concerns.The estimated $295 billion cryptocurrency market isn’t big enough to pose a threat, and the U.S. central bank isn’t looking to regulate it, Powell said during testimony before the the House Financial Services Committee.

Deals & Investments

Grayscale Crypto Funds Raised $250 Million In Assets By The End Of June

Marin Marinov – Cryptovest

The crypto management company Grayscale Investments raised nearly $250 million in new assets by the end of June this year, a half-year report showed. Most of the money came from big players despite cryptocurrency market volatility, especially in the first months of this year.

Exchanges & Trading Venues

$20K in Crypto: The First Bets on Prediction Market Augur Just Paid Out

David Floyd  – CoinDesk

Augur, a decentralized platform for creating predictions markets, just hit a major milestone.

“The first markets have successfully resolved,” the project tweeted. Payments of ether worth around $20,000 are now going out to the first brave crop of users, who used the betting platform without knowing for sure whether it would work as advertised.

Crypto Exchange KuBitX  To Target African Market by Offering Low Transaction Fees

Connor Blenkinsop – Cointelegraph

KuBitX claims that there is widespread reluctance to learn about crypto, compounded by a lack of knowledge and resources for those who want to discover more. The company believes this has enabled a small group of traders to dominate the market and even manipulate it at will — resulting in extreme fluctuations in cryptocurrencies.


Citadel’s Ken Griffin Says “There’s No Need” For Cryptocurrencies

Heather Landy -Quartz

Citadel CEO Ken Griffin, Says Bitcoin Is Still a ‘Head Scratcher,’ Tells Young Generation to Stay Away

Helen Partz – Cointelegraph

Billionaire Investor Ken Griffin Says He’s A Crypto Skeptic

Katia Porzecanski, Sabrina Willmer & Saijel Kishan – Bloomberg (subscription)

Billionaire hedge fund manager Ken Griffin said he questions the value of cryptocurrencies and laments how younger investors have been attracted to the digital coins rather than stocks of companies that drive economic growth.While Griffin’s securities trading business has considered making markets in crypto-assets, the Citadel founder said he has “a hard time” being a liquidity provider in a product he doesn’t believe in.

Circle CEO Jeremy Allaire Weighs In On Wall Street’s Growing Crypto Craze

Melissa Lee – CNBC

Ethereum May Drive Blockchain To Be As Broadly Adopted As The Internet, Fintech CEO Jeremy Allaire Says

Kellie Ell – CNBC

Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of Circle, said. “It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said.

US CoinFlip ATMs To Allow Dash Transactions

Kalina Tekelieva – Cryptovest

Illinois-based cryptocurrency ATM operator CoinFlip has partnered with Dash and will add the virtual coin to its ATM network in the US, Dash said in a statement . The companies did not specify when crypto users will be able to make Dash transactions through CoinFlip.

DogeCoin Spikes, But Remains Highly Risky

Christine Masters – Cryptovest

DOGE was among the fastest rising coins, this time benefitting from the peak of Bitcoin prices and the hype following the Robinhood listing. Once again lined up among the best-traded assets, growing more than 20% overnight. The rise is directly due to the spike in Bitcoin prices, as DOGE trading is heavily dependent on the leading coin.


TSMC Cuts Sales, Spending Outlook As Crypto Slowdown Bites

Debby Wu – Bloomberg (subscription)

Taiwan Semiconductor Manufacturing trimmed its outlook for 2018 revenue and capital spending, reflecting lethargic mobile and digital currency mining demand as it gears up to supply the next batch of Apple Inc.’s iPhones.


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Latest Developments & Agreements

All ‘Big Four’ Auditors To Trial Blockchain Platform for Financial Reporting

Wolfie Zhao – CoinDesk

The world’s four biggest auditing firms – Deloitte, EY, KPMG and PwC – are joining a group of 20 banks in Taiwan to trial a blockchain service for auditing public companies’ interim financial reports.According to a local news report (Ed. note – link in Chinese), the blockchain trial will initially allow the auditing firms to conduct so-called external confirmation – the process of obtaining and evaluating audit evidence – for a group of selected companies that are publicly traded on the island.

Canada’s Large Credit Union Coalition Joins Blockchain Consortium R3

Ana Alexandre – Cointelegraph

The Large Credit Union Coalition a group comprising of the chief information officers of the 16 largest credit unions in Canada, has joined New York-based blockchain consortium R3, according to an announcement.

Baidu’s Blockchain Photo App Launches With Its Own Token

Wolfie Zhao  – CoinDesk

Chinese internet search giant Baidu has launched a proprietary token to incentivize users of its new blockchain-based photo validating and sharing service.


Russian Crypto Owners And Bitcoin Miners Will Not Create Different Tax Laws

Bitcoin Exchange Guide

Russia will not create separate laws for bitcoin owners and cryptocurrency miners. Anatoly Aksakov, the head of the Financial Markets Committee in Russia’s state Duma, stated that the government does not have plans to create any separate tax frameworks for crypto. According to him, people who get money from crypto-related activities will have to pay their taxes just like anyone else.

US Congressman Brad Sherman Calls For Ban On Crypto Buying And Mining

Christine Kim – CoinDesk  

A U.S. lawmaker has called for a blanket ban on cryptocurrency buying.Congressman Brad Sherman is no stranger to controversial statements on the subject – back in March he called cryptocurrencies “a crock – and during the Wednesday hearing of a subcommittee for the House of Representatives Financial Services Committee, he went so far as to advocate keeping Americans out of the market entirely.

Associations & Federations

China To Lead International Standardization Research Group For IoT, Blockchain Tech


China will lead an international research group on the standardization of the Internet of Things and blockchain technology, local news outlet Science and Technology Daily reports (Ed. note – link in Chinese) The joint technical committee of the International Organization for Standardization and the International Electrotechnical Commission  have adopted the proposal for the creation of this international research group after a month of a discussion by committee members.


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Research: Illegal Cryptocurrency Mining May Have Reached Its Peak As Monero Prices Plunge

Shaurya Malwa – Cryptoslate

The burgeoning cryptocurrency sector gave rise to scores of unauthorized cryptocurrency mining malware infiltrating millions of computers worldwide. However, recent reports suggest the prominent hacking method may lose its relevance soon.

Can We Predict The Bitcoin Trend By Watching Litecoin And Ethereum?

Clem Chambers – Forbes

Bitcoin used to be the sandbox of the uber-nerd. Even today, old school market sophisticates whose job it should be to know all about crypto are still shuffling around in the foothill of understanding or worse totally clueless about what this new asset is. This is not surprising because crypto really is the deepest rabbit hole most of us will have to spelunk.

Other news

Why Blockchain Could Be The Downfall Of YouTube Advertising

Gina Clarke – Forbes

Blockchain could become the catalyst that tackles ad-fraud, revolutionizing digital advertising for broadcasters.


Big Banks Like Deutsche Choose IBM To Run Their Blockchain For 3 Reasons, IBM Executive, Martin Schroeter, Says

CNBC (video)

IBM Executive Martin Schroeter Says Big Banks Like Deutsche Dhoose IBM To Run Their Blockchain

Elizabeth Gurdus – CNBC

The key to IBM’s robust blockchain business stems from three guarantees the sprawling technology company can make to its clients, Senior Vice President of IBM Global Markets Martin Schroeter said Wednesday.

Stablecoins Will Do More Than Just Reduce Crypto Price Volatility

Bill Barhydt – CoinDesk

There are plenty of misconceptions surrounding stablecoins. One of the main things is that they will somehow bring the volatility of current crypto markets to heel. Maybe this is implied by the name, or maybe it’s just a misunderstanding of crypto market dynamics when compared to other more traditional financial markets, but stablecoins by themselves won’t smooth the turbulent fiat value of crypto assets.

DNT: Bill Barhydt is the founder and CEO of Abra, a global crypto wallet and exchange network.

King Of Crypto Barry Silbert Says Bitcoin Has Bottomed

CNBC (video)

Barry Silbert, Digital Currency Group, on bitcoin’s recovery.

DNT: Barry Silbert is the Founder & CEO of Digital Currency Group, a company helping to build the foundation of the digital currency and blockchain technology industry.

Billionaire Marc Lasry Sees Bitcoin’s Price Reaching $40,000

Madeline Meng Shi  – CoinDesk

Another billionaire investor has made bullish comments on bitcoin. Marc Lasry, the co-founder, chairman and CEO of Avenue Capital Group, an investment firm with $9.6 billion in assets under management, aid he has invested around 1% of his personal fund in bitcoin, betting that the world’s largest cryptocurrency by market cap might soon be worth as much as $40,000 per coin at some point.



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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News