Blockchain Daily News – Edition 61, 27.09.2017
September 27, 2017
Blockchain Daily News – Edition 63, 02.10.2017
October 2, 2017

Blockchain Daily News – Edition 62, 28.09.2017

Blockchain Daily News

by Florin Oprea

Edition 62, 28.09.2017

Deals, Investments & M&As

Meet The Hottest Thing In Hedge Funds Right Now: The ‘Crypto-Fund’

Evelyn Cheng – CNBC

A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever

Erik Schatzker – Bloomberg

Mike Novogratz is reinventing himself as the king of bitcoin.

The swaggering macro manager who flamed out at Fortress Investment Group LLC is starting a $500 million hedge fund to invest in cryptocurrencies, ICOs and related companies. Novogratz will put up $150 million of his own money and plans to raise $350 million more by January, mainly from family offices, wealthy individuals and fellow hedge fund managers.

At that size, the Galaxy Digital Assets Fund would be the biggest of its kind and signal a growing acceptance of cryptocurrencies such as bitcoin and ether as legitimate investments.

FAO: I wonder what Jamie Dimon would have to say about this?!? I am sure somebody will ask him pretty soon, as this story will hit Wall Street inboxes and chat windows all this week and the next…

Earlier this year fintech analytics firm Autonomous NEXT released a list (HERE) of 55 cryptocurrency hedge funds – well, the list is now comprised of 70 funds…you should really check it now  (HERE) – it has been updated.

VC Firm IVP Raises New $1.5B Fund To Back More Cryptocurrency ‘Picks and Shovels’

Alex Konrad – Forbes

After decades of supporting tech startups, growth stage investor IVP will be looking to help supply a new gold rush with its sixteenth fund: cryptocurrency.

FAO: Oh here is another topic TBD when meeting Mr. Jamie…

How Ethereum Founder Vitalik Buterin Wants to Revolutionize the ICO

Jen Wieczner – Fortune

Ethereum creator Vitalik Buterin, who is so influential even rumors of his mortality can swing that cryptocurrency’s price, has come up with a way to revolutionize his industry’s hottest trend: the phenomena known as ICOs.

FAO: The proposed measures could indeed be of help. Let’s see what the “markets” really want/need.

Exchanges & Trading Venues

Bitstamp Gives Users Bitcoin Cash But ‘Postpones’ Trading Indefinitely

William Suberg – The Cointelegraph

Cryptocurrency exchange Bitstamp has credited users with Bitcoin Cash, while announcing it will postpone trading “until further notice.”

Vendors

Hyperledger Gains 10 New Members

PR Newswire

Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, announced that 10 new organizations have joined the project.

FAO: Hyperledger is getting bigger and bigger. Oracle joined the project earlier this month.

Showtime Websites Secretly Mined User CPU For Cryptocurrency

Shannon Liao – The Verge

Showtime websites were found to be running a script that allows the sites to mine visitors’ extra CPU power for cryptocurrency, as pointed out by users on Twitter. The afflicted sites included showtime.com and showtimeanytime.com, but the script has since been removed following reports from Gizmodo and other sites.

Regulation

It’s Political: Why China Hates Bitcoin And Loves the Blockchain

Michael J Casey – CoinDesk

The crypto community is once again reeling from a Chinese crackdown and trying to read the tea leaves on Beijing’s next move. China’s policymaking is far from transparent, so one can only speculate how long the new restrictions on bitcoin exchanges and token sales might last.

DNT: It’s selfish love…

FAO: What about a coordinated next move from China and others? Investors are already very cautious since a first cohort of Chinese exchanges, including BTCChina, previously announced they will stop all trading by September 30, while the last cohort will cease trading at the end of October.

Hong Kong Gripped by Cryptomania, ICO Fever As China Bitcoin Ban Persists

Jon Buck – The Cointelegraph

The hardline stance against cryptocurrencies and exchanges taken by the central Chinese government has had some negative impact on cryptocurrency markets in recent weeks. However, Chinese government regulation has not quelled interest in Blockchain technology solutions in the small island state of Hong Kong.

FAO: Will China’s crackdown on cryptos be actually in HK’s profit? Should we expect some more actions? Meanwhile South Korea has experienced a sudden growth in crypto trading volumes.

Startups, Accelerators & Hubs

This App Will Automatically Invest Your Spare Change In Cryptocurrency

Patrick Kulp – Mashable

A new app turns your spare change into digital currency. Coinflash, featured on the Product Hunt website this week, will round each of your credit and debit card purchases to the nearest dollar, tally the total difference, and automatically invest that amount into a cryptocurrency of your choice through a Coinbase account.

DNT: Now, that’s indeed an interesting investment tool.

Analysis

Through The Roadblock? Bitcoin’s Price Might Be Priming For A Boost

Omkar Godbole – CoinDesk

With another roadblock out of the way, the bitcoin price may be headed for a breakout.

Other news

Blockchain May Finally Rid The World Of Fax Machines

John Detrixhe – Quartz

The finicky, archaic fax machine still somehow survives in the back offices of some big financial institutions. But this technology may finally face extinction as execs update their operations with blockchain-based systems.

FAO: Here’s another good article signed J. Detrixhe. It discusses the mutual fund trading platform that Nasdaq is launching together with Nordic bank SEB and how this project could impact the future of financial services. You can find out more details about this project in today’s Fintech Daily News bulletin.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News