Today’s Highlights: Tezos lawsuit with Zug roots will move forward In U.S., ICOs are turning exclusive, Bittrex adds Ethereum Classic and XRP trading pairs, over $9 billion wiped off Bitcoin’s value and 44% of Russians have heard of cryptocurrency.
Editors’ thoughts today:
Editor Decebal Nicolaie Todarita (DNT): If you get hungry when you are mining cryptos, don’t worry. You don’t have to order food or go out to a restaurant. And that’s because it just might that your cryptocurrency-mining router get hot enough to fry an egg. It’s verified!
FAO: The world is now a better place!! (just being sarcastic)…
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Joel Rosenblatt – Bloomberg (subscription)
A high-profile “Crypto-Valley” legal dispute over the Tezos ICO will move forward in a court closer to Silicon Valley — for now at least. In a preview of how litigation may play out in cryptocurrency fights with tentacles spanning the Atlantic, if not the globe, a U.S. judge rejected a bid by the Zug, Switzerland-based Tezos Foundation to toss an investor lawsuit, ruling the case will move forward in federal court in San Francisco.
Avi Mizrahi – Bitcoin.com
Traditional VCl investors seem to think that the field of crypto reporting apps is appealing. Cryptocurrency tax and accounting software development startup Libra has raised an extra $15m in its Series B funding round.
Josh Constine – TechCrunch
Audius plans to launch its open-sourced product in beta later this year. But it’s already found some powerful investors that see SoundCloud as vulnerable to the cryptocurrency revolution. Audius has raised a $5.5m Series A led by General Catalyst and Lightspeed, with participation from Kleiner Perkins, Pantera Capital, 122West and Ascolta Ventures.
Nikhilesh De – CoinDesk
ShapeShift has acquired a startup that developed a tool for exchanging cryptocurrencies more efficiently. The company said that it acquired the Texas-based Bitfract after it made the tool – allowing for the exchange of bitcoin for “dozens of digital assets in a single transaction” using the company’s API.
Justina Lee – Bloomberg (subscription)
ICOs were supposed to be IPOs without the Wall Street middlemen and Washington
meddling. Now they’re looking a bit less revolutionary. ICOs have raised $18b for blockchain startups this year, almost five times last year’s total, according to CoinSchedule. But unlike 2017, this is increasingly due to blockbuster sales that targeted accredited (read: wealthy) investors instead of just anyone with an internet connection.
Ana Alexandre – Cointelegraph
Bittrex is looking to expand its fiat markets to Ethereum Classic nd Ripple on August 20. The new trading pairs will be added to already listed dollar markets for Bitcoin, Ethereum, Tether, and TrueUSD.
David Canellis – The Next Web
A massive vulnerability has been discovered in the decentralized betting platform Augur. Hackers have been able to feed users incorrect data and game the system.
Everything shown by the app was susceptible to faking, from transactions to wallet addresses – even the markets could have been forgeries.
Jamie Redman – Bitcoin.com
This week the firm Ledgerx announced the soft launch of its ‘Ledgersavings’ platform, a new service that allows users to deposit bitcoin core (BTC) and accrue interest on the deposit over a variety of maturation periods. The CFTC-regulated company explains the new savings program will allow clients to gain an annualized return of roughly 16%, even when crypto-markets are not appreciating.
Aaron Hankin – MarketWatch
Despite the setback on the application submitted by VanEck and SolidX and the ensuing 10% fall in the price of bitcoin BTC, market participants remain upbeat that the delay was just that: a delay.
Sebastian Sinclair – Coindesk
Bitcoin fell sharply on Wednesday after the U.S. SEC delayed a decision on a proposed bitcoin ETF which would have been the first financial product of its kind.
FAO: Meanwhile in Venezuela…
Georgi Georgiev – Bitcoinist
The price of Bitcoin in Venezuela is now doubling roughly every three weeks as hyperinflation continues to plague the country. At the same time, Bitcoin trading volumes keep hitting record highs as people are scrambling for an exit.
MArket for DAta ANAlysis, or Madana, in short, is a decentralized marketplace for data exploration that permits the members of the Lisk network to be part of the data market without facing privacy flaws.
Helen Partz – Cointelegraph
Azure has introduced a proof-of-authority algorithm on its Ethereum blockchain product, according to a blog post. The new Ethereum network algorithm will reportedly allow a “more efficient” way of building decentralized applications (DApps) for private or consortium networks, where “all consensus participants are known and reputable.”
William Suberg – Cointelegraph
Almost half of Russians have heard of cryptocurrencies, and 13% claim to have a good understanding of them, a survey conducted by research holding Romir revealed. Romir, a representative of the Gallup International Association in Russia, asked 1,500 Russian residents about their knowledge of cryptocurrency, as well as their plans to interact with the industry.
DNT: I think this percentage is pretty impressive.
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Joseph Young – Cryptoslate
Status, also known as Status.im, released a lightweight Shardingclient, called Nimbus, to scale the Ethereum protocol and create a better ecosystem for decentralized applications (dApps) in processing information.
William Suberg – Cointelegraph
A member of Ukraine’s Electoral Commission revealed in a Facebook post that they are working with NEM on a blockchain voting pilot. Oleksandr Stelmakh, head of the State Register at the Central Electoral Commission of Ukraine, appeared pleased with the ongoing tests, writing in the post that they are “continu[ing] a series of experiments applying blockchain technology within electoral voting.”
Wolfie Zhao – CoinDesk
In a news report from Bangkok Post, Rapee Sucharitakul, the secretary-general of the Thailand Securities and Exchange Commission said a total of 20 crypto exchanges had already registered for licenses.
Komfie Manalo – Cryptovest
Japan’s financial market watchdog is reportedly considering stricter rules on Bitcoin and digital currencies to curb speculative investments after the massive attack on Tokyo-based Coincheck, which resulted to nearly $600m in losses.
Arjun Kharpal – CNBC
Regulators have taken a keen eye on the industry. But it’s not just bitcoin they are looking at.
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Kieran Smith – Brave New Coin
By creating a federally-regulated crypto ecosystem, industry giants aim to make bitcoin a trusted global currency.
John Detrixhe – Quartz
Blockchain euphoria is giving way to blockchain fatigue: Despite the hype, only 1% of executives in a survey reported deploying the technology at their firms. And while corporate management remains bullish about distributed ledgers, mentions of “blockchain” are on the decline during earnings conference calls. But IBM, which has roots going back more than 100 years, still thinks the technology that underpins bitcoin has untapped potential.
Ali Montag – CNBC
The price of bitcoin is known for wild swings — after all, it’s a decentralized cryptocurrency that isn’t backed by any government. So it might seem impossible for the average investor to figure out which way the digital asset is headed, but a new report by two Yale University economists analyzing historical price patterns suggests there are actually two indicators you can use to get an idea.
Christine Kim – Coindesk
California-based business and financial software company Intuit has been awarded a patent for processing bitcoin payments via text message. The patent, published by the U.S Patent and Trademark Office details how a system of virtual accounts could enable two users to transfer funds using mobile phones.
Jamie Powell – FT Alphaville (subscription)
Ah, the crypto.
After the gyrations of early June, it all went pretty quiet recently as bitcoin, and its fellow tokens, began to recover from their lows.That is, until last Saturday.
Gregg Bell – TechCrunch
Within three to five years, blockchain-based investments are likely to be part of typical mainstream investment strategies the way private equity, hedge funds, real estate, commodities and derivatives contracts are today.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News