Blockchain Daily News – Edition 264, 06.08.2018
August 6, 2018
Blockchain Daily News – Edition 266, 08.08.2018
August 8, 2018

Blockchain Daily News – Edition 265, 07.08.2018

Today’s Highlights: Goldman Sachs is considering a custody offering for crypto funds, Barclays creates senior team to explore crypto trading, Swiss banks open for cryptocurrency assets, australian millionaire, Fred Schebesta, plans to launch cryptocurrency bank & Amazon Cloud executive Tim Wagner joins crypto platform Coinbase

Editors’ thoughts today:

Editor-in-chief Florin Adrian Oprea (FAO): Yesterday we had ICE breaking it, today we have Goldmans and Barclays looking into cryptos. Read the Breaking News section. Oh, Jamie is back with his obsolete comments. Maybe he could learn something from Goldmans’ staff, current and former…

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Breaking News

Goldman Sachs Is Considering a Custody Offering For Crypto Funds

Sridhar Natarajan – Bloomberg (subscription)

Goldman Sachs could offer a boost for the burgeoning universe of funds betting on cryptocurrencies. The firm is considering a plan to offer custody for crypto funds, according to people with knowledge of the matter. That means the bank would hold the newfangled securities on behalf of the funds, reducing risk for clients seeking to guard against the threat of losing their investments to rogue attacks.

Barclays Creates Senior Team To Explore Crypto Trading

Paul Clarke – Financial News

Barclays has created a crack team of senior staff to explore how it can start trading cryptocurrencies, as more large investment banks look for ways take advantage of the fast-growing sector.

Jamie Dimon Warns Of 5% Treasury Yields

Cormac Mullen & Joanna Ossinger – Bloomberg (subscription)

The JPMorgan CEO reiterated comments made last year on Bitcoin, calling cryptocurrencies a “scam” and saying he had “no interest” in the world’s largest digital currency. He suggested governments may move to shut down the currencies, because of an inability to control them.

FAO: Not that shy after all…apropos of yesterdays reported Jamie Dimon “appearance”…

Swiss Banks Open For Cryptocurrency Assets

Pedro Goncalves – International Investment

Two Swiss banks are accepting money that was generated through business involving cryptocurrencies in a move contrary to what the majority of the banks in the country do.

After Falcon Private Bank, a second Swiss bank now has decided to accept cryptocurrency assets: Maerki Baumann private bank in Zurich.

FAO: New banks in the crypto arena…better share this info, it might be useful to many entrepreneurs out there looking for a bank account.

Deals & Investments

Grounds, Paradice-Backed Blockchain Software Business Seeks ASX Listing

Sarah Thompson & Anthony Macdonald – Financial Review

The big end of town has piled into a small payments security firm’s IPO in the expectation they may have unearthed the next big thing.  Street Talk understands UBS Australia chief executive Matthew Grounds, veteran fund manager David Paradice and Sydney-based institutional investors KIS Capital, Terra Capital and KTM Ventures are among existing and incoming investors in ASX-aspirant Identitii.

HashCash ICO Platform Is Set to Provide Best-In-The-Industry ICO Featured Services

Business Insider

HashCash ICO Platform has launched its own ICO Launch Solutions for enterprises and startup companies who are looking for a strong platform to launch their ICO tokens.

Exchanges & Trading Venues

LedgerX Claims ‘Record’ July for Bitcoin Options Trading

Nikhilesh De – CoinDesk   

Bitcoin derivatives trading provider LedgerX says it saw a “record” amount of trading volume over the last two months. The firm cleared $50 million in derivatives volume in July alone, president and chief risk officer Juthica Chou told CoinDesk. Earlier this month, the firm also executed its largest trade to date for a December $15,000 strike call.

Crypto Pumps Are Just for Fun

Matt Levine – Bloomberg  (subscription)

The word “unregulated” has a sort of strange usage in finance. Hedge funds, for instance, are often referred to as “unregulated,” which their compliance teams must find frustrating. Everything is regulated. Hedge funds are not subject to the same rules as mutual funds, and have more flexibility about what they can own and how they can leverage it and what they can charge and so forth. But they are subject to all sorts of rules.

Researchers Build Blockchain Electricity Exchange They Say Cuts Waste

Wolfie Zhao – CoinDesk

Researchers from one of the top universities in China say they have developed a decentralized exchange, not for crypto assets, but for unused power. A patent application filed by team from China’s Fudan University sets out the workings of a blockchain-based electricity exchange that assigns power sellers and buyers as nodes on the network and allows them to securely trade unused electricity without a third-party intermediary.

Australian Millionaire, Fred Schebesta, Plans to Launch Cryptocurrency Bank

Osato Avan-Nomayo – Unhashed

Australian millionaire, Fred Schebesta, is planning to launch a cryptocurrency bank to capitalize on the immense business opportunities in the emerging virtual currency market. Schebesta, the Finder.com.au co-founder wants his bank to be the first of its kind in the country.

Cryptocurrencies

Robinhood Adds Ethereum Classic To Crypto Trading App

Nikhilesh De – Coindesk  

Robinhood announced that its customers can now invest in ethereum classic, just a day before Coinbase adds the option too. The company said in a blog post that the option went live on its Robinhood Crypto app, adding that only those in the 19 U.S. states with access to the service can trade ETC at this time.

Coinbase Resumes Cryptocurrency Trading In Wyoming After Three-Year Absence

Ethereum World News (blog)

Coinbase has announced the resumption of cryptocurrency trading service in the state of Wyoming. This announcement comes after three years of the platform ceasing all operations in the “cowboy state” due to regulatory issues.

Bot-Finding Algorithm Sniffs Out Cryptocurrency Scam

Joe Uchill – Axios

Researchers at Duo Security have developed an algorithm to hunt Twitter bots at Twitter-sized scale. Why it matters: On a big social media platform, using humans to hunt automated scam accounts is a particularly difficult game of whack-a-mole. That is exactly the kind of problem Duo’s algorithm can help solve. One of the moles it whacked during a testing was a large network of cryptocurrency scammers.

Vendors

Blythe Masters Looks Beyond Finance for Next Wave of Blockchain Growth

Ian Allison  – CoinDesk

To hear Blythe Masters tell it, the time has come for Digital Asset to spread its wings and fly.

The distributed ledger technology company she founded in 2014 is entering a new phase, heralded by, among other things, a partnership with Google Cloud to simplify and proliferate the tech.

FAO: More about the Google Cloud partnership – in our Archive. Still for free…

BitPeople

Amazon Cloud Executive Tim Wagner Joins Crypto Platform Coinbase

Michael Sheetz – CNBC

Coinbase announced the hiring of Tim Wagner as vice president of engineering snagging him from Amazon’s cloud service. Wagner was a general manager of several Amazon Web Services business units before jumping to Coinbase, the platform’s chief executive Brian Armstrong wrote in a blog post.

Gary Cohn Is Happy in the Hamptons, Golfing and Crypto Investing

Amanda L Gordon – Bloomberg (subscription)

The former Goldman Sachs president who served about a year as Donald Trump’s economic adviser joined his wife on stage at the Paddle & Party for Pink, a benefit for the Breast Cancer Research Foundation at Havens Beach in Sag Harbor. Her focus was drawing bids for paddle boards, including one by her with glittery green petals.

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Regulation

Japanese Crypto Exchanges File to Form Self-Regulatory Organization

Christine Kim – CoinDesk

A group of Japanese cryptocurrency exchanges have formally submitted a detailed proposal to form a self-regulatory organization to the nation’s Financial Services Agency.

The Japan Virtual Currency Exchange Association, which was formed by 16 exchanges in March and registered with the FSA in April, has applied to become a “certified fund settlement business association,” the Asia Times reported.

What Role Will Regulations Play In Blockchains’ Future?

Simon Erickson – The Motley Fool

There’s a lot of disruption taking place in financial services, but blockchain seems to be the topic on everyone’s mind. The potential transparency and efficiencies promised by bitcoin, ethereum, and other cryptocurrencies have piqued the interest of most companies that process transactions.

Events

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Analysis

Wall Street Isn’t Boosting Bitcoin

John Detrixhe – Quartz

Wall Street is steadily making it easier for a wider range of investors to buy and sell bitcoin. It’s a development that should, in theory, boost prices—if a torrent of institutional money is poised to rush into crypto, then the buildout of professional-grade infrastructure should be a boon for things like bitcoin, ether, and other offshoots.

Scottish Government Mulls Adoption Of Blockchain In Public Services

Komfie Manalo – Cryptovest

A report published by the Scottish Government provided details of how to utilize blockchain in public services.

Other news

Better Disclosures Cut Risk Of Crypto Coin Crashes, Study Shows

Huw Jones – Reuters

ICOs are more likely to crash if they fail to give investors proper information at the outset, an international academic study showed. ICOs raise funds for startups by issuing tokens – cryptocurrencies – in exchange for an investor’s money. The process typically lacks the mandatory regulatory safeguards of consumer protection that floats on a stock market require.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News