Daily News Digest Featured News

Monday January 28 2019, Weekly News Digest


News Comments

United States


European Union



News Summary

United States

Gemini And Coinbase Exchanges To Report Transaction Details To Tax Authority IRS (BTCWires), Rated: AAA

Two top US-based cryptocurrency exchanges, namely, Gemini and Coinbase, are reportedly starting to file tax reports to the IRS or the Internal Revenue service whenever their customers buy cryptocurrencies.

Another cryptocurrency exchange Kraken has said that they will not be informing the IRS authorities in the same way. In any case, the users are themselves responsibility for deciding if their crypto trades are supposed to be taxable or not.

Bitcoin Falls Below $ 3,500 as Fresh Downturn Hits Cryptocurrency Markets (CoinTelegraph), Rated: AAA

Bitcoin (BTC) lost 3 percent and altcoins shed up to one tenth of their value as bearish moves returned to cryptocurrency markets.

Data from Cointelegraph’s price tracker and Coin360 shows a downtrend at the start of the week, with BTC/USD losing support at $3,500.

At press time on Monday, Bitcoin hovered around $3,460, its lowest price since Dec. 16.


Would a Ban on Bitcoin Be as Pointless as the War on Drugs? (Forbes), Rated: A

One of the common criticisms thrown Bitcoin’s way over the years has been that the system cannot work because governments will eventually ban it if it interferes with their ability to do things like control monetary policy or collect taxes. This has been the main criticism offered by JPMorgan Chase CEO Jamie Dimon when asked to comment on the peer-to-peer digital cash system.

But would it be possible to implement such a ban? Has the proliferation of Bitcoin already reached the point of no return?

Apple’s Co-Founder Steve Wozniak Who Believes That Bitcoin Is “Digital Gold” Sold All BTC When It Peaked At $ 20k In 2017 (Oracle Times), Rated: A

Apple’s co-founder Steve Wozniak has recently stated that he sold all the BTC that he held when the digital currency hit its all-time high back in 2017.

He said that he sold allBTC when it sported the massive price tag of $20k.

6 Reasons Why Bitcoin’s Adoption Grows Stronger (Oracle Times), Rated: B

  1. Enhanced security
  2. The number of daily active addresses is stable
  3. Transaction volume has doubled
  4. Transactions fee is down
  5. Bitcoin’s Lightning Network has grown
  6. Other catalysts of adoption are popping up – positive rumors and predictions

Ethereum Rival Tron Is Surging As Bitcoin Sinks–Here’s Why (Forbes), Rated: AAA

Tron, a decentralized app platform looking to rival ethereum, has leaped higher over the last 24 hours, adding more than 10% and making the top 10 cryptocurrency worth more than $2 billion in total for the first time since August.

Tron has outperformed both bitcoin and the U.S. dollar over the last month, with its price climbing over 130% since its bull run began in mid-December.

Tron is however down by some 90% since its all-time high 12 months ago, which saw it propelled to an eye-watering market capitalization of more than $16 billion by bitcoin and the wider cryptocurrency market’s massive 2017 bull run.

Tron price
Source: CoinDesk

Crypto Market Wrap: Tron Surges to Seventh, Flips Litecoin and Stellar (NewsBTC), Rated: A

Crypto markets are sluggish this Sunday, Tron jumps two spots, BNB strong, BCH falls back below EOS.

A 2% dump by Bitcoin Cash has allowed EOS to flip it into fourth by not moving. Tether has climbed to sixth by doing nothing but today’s big mover is Tron which has jumped both Litecoin and Stellar with a 12% pump. TRX is now in seventh spot at $0.030 as daily volume surges from $200 to $350 million. The imminent BTT token sale launch tomorrow and a boost by Weiss Ratings has given Tron the lift above both LTC and XLM at the time of writing.

Source: NewsBTC

RIPPLE SOLD $ 535 MILLION (Bitcoinist), Rated: AAA

According to the report, Ripple sold a total of $535.56 million in XRP tokens for 2018 as a whole. Of this figure, $171 million or roughly a third came from institutional buyers while more than $363 million came from sales via third-party market makers.

Galaxy Digital plans to raise US$ 250 million for loans to cryptocurrency companies (SCMP), Rated: A

Galaxy Digital, the cryptocurrency bank founded by former Goldman Sachs partner Michael Novogratz, is raising at least US$250 million for a credit fund to offer US dollar loans to cryptocurrency companies, according to people familiar with the matter.

JPMorgan says the only real use for cryptocurrencies will be in a post-capitalist dystopia (New Have Register), Rated: A

However, the fact that cryptocurrencies still have a relatively limited correlation to traditional assets could be a positive for investors seeking to diversify. Despite that, Bitcoin’s co-movement with some markets like US equities and EM Bonds (local currency) has risen slightly since early 2018, but remains quite low, according to JPMorgan.

Source: JPMorgan

Aetna, Anthem, Health Care Service Corporation, PNC Bank and IBM announce collaboration to establish blockchain-based ecosystem for the healthcare industry (PR Newswire), Rated: A

Aetna, Anthem (NYSE: ANTM), Health Care Service Corporation (HCSC), PNC Bank (NYSE: PNC) and IBM (NYSE: IBM) today announced a new collaboration to design and create a network using blockchain technology to improve transparency and interoperability in the healthcare industry.  The aim is to create an inclusive blockchain network that can benefit multiple members of the healthcare ecosystem in a highly secure, shared environment. The goal is to allow the blockchain network to enable healthcare companies to build, share and deploy solutions that drive digital transformation in the industry.

20 Conferences You Can’t Miss in 2019 (Inc.), Rated: A

Coindesk’s Consensus is one of the best blockchain and cryptocurrency conferences of the year. The event features over 250 world-class speakers, the hottest startups, media and lots of opportunities to network with more than 8,500 attendees – all in exciting New York City.

SF Blockchain Week provides multiple days of relevant content and education, helping empower people in the Blockchain community and educate new entrants.

Crypto Invest Summit focuses heavily on the investment side of these new asset classes and technologies. Last year’s event attracted over 2,000 investors and the speaker list includes the top names in blockchain and blockchain investing.

Nasdaq Blockchain Project Generates $ 20M in Series B Funding, Embraces Cryptos (Coin Idol), Rated: A

Nasdaq Venture has expressed the biggest interest in cryptocurrencies yet by investing around $20 million. The firm Symbiont Inc. just received $20 million from a series B funding round. Nasdaq Ventures made the round and this seems to be it’s another massive move towards the virtual currency market yet.

Are ICO Tokens Securities? Startup Wants a Judge to Decide (WSJ), Rated: A

A Canadian social-media startup is gearing up to challenge Washington’s ability to regulate the fledgling cryptocurrency industry.

Social-media startup Kik Interactive Inc. of Waterloo, Ontario, plans to fight an expected enforcement action from the Securities and Exchange Commission over a 2017 initial coin online offering, Chief Executive Ted Livingston told The Wall Street Journal, setting the stage for a legal battle that could have broad ramifications for the digital-currency market.

Source: CoinDesk

A court battle with Kik could help determine the scope of the SEC’s authority to tame the unruly ICO market, which has been used by legitimate startups and scammers alike to raise more than $20 billion since 2014.

Kin cryptocurrency

New Moon Browser Extension Allows Users to Shop and Buy on Amazon with Cryptocurrencies (Bitcoin Exchange Guide), Rated: A

In order to use the extension, the user has to download it and create an account. After it, using their Coinbase account, the individuals will be able to make purchases using their Coinbase wallet. In the future, the intention is to add more exchanges and platforms.

At the same time, moon Technologies explains that there will be other e-commerce sites such as eBay and Walmart added to their extension.

Bitcoin ATMs ‘hidden in plain sight’ throughout Philadelphia (KYW News Radio), Rated: A

Looking for a place to make trades in bitcoins? You’ll find one in the Bourse in Old City. You’ll find another at Spread Bagelry in University City.

In fact, there are about 100 of them across Philadelphia — bitcoin ATMs.

Following Internal Management Reorganization, 2 R3 Executives Leave The Consortium (Smartereum), Rated: A

As January comes to an end, R3, one of the providersof distributed ledger technology, has carried out a reorganization of its internal management structure. This led to the departure of two executives of the management team. The two executives who have stepped down are Lauren Carroll, the chief administrative officer and Brian McNulty, the managing director of R3’s head of global services. This was according to what the remaining numbers of the management team said to R3 employees on Friday during a town hall meeting.

Washington State Introduces Bill Encouraging Development of Blockchain and DLT (Cryptoslate), Rated: B

On Jan. 25th, the Washington State Senate introduced SB 5638, an act “relating to the recognizing the validity of distributed ledgertechnology.”

The Washington State Senate introduced a bill that would—through amending existing legislation—encourage the development of distributed ledgerand blockchain technology. The bill appears to codify blockchain-enabled digital signatures and licenses and provide the legal recognition necessary to enforce these standards.


Tron TRX Had Gained 150% In 2 Months: Price Analysis Ahead of BitTorrent ICO (CryptoPotato), Rated: AAA

TRX had gained 150% (Binance) during the past seven weeks. The reason for that massive move could be related to the BitTorrent upcoming ICO, which can be purchased using TRX and is based on Tron’s blockchain. The ICO is planned to start its sell on Binance Launchpad tomorrow, January 28, at 17:00.

Usually this could turn into a classic “sell the news” event, however, the bullish momentum of Tron seems unstoppable. Tron had just crossed the $2 billion market-cap mark in the 7th place of the largest cryptocurrencies by market cap.

Tron has lost 96% of its value in the lowest point, before gaining some back, but overall is still down 91% from its all-time high price of $0.328.

Source: Crypto Potato

Ethereum Dominated Dapp Market in 2018 But Now Tron & EOS Crushing it (Bitcoin Exchange Guide), Rated: AAA

In the entire blockchain ecosystem, Ethereum, Tron, EOS, and Steem are the most active users in the market. But out of these four, Tron and EOS are fast making development in the Dapp field. However, in the year 2018, Ethereum reamined the king of the Dapps market according to the 2018 Dapp Market Report by Dapp.com.

The reason for Ethereum’s dominance in terms of numbers of dapps, wallets, and dapp users has been attributed to its “first-mover advantage.” However, 2019 is going to be a “challenging year” for Ethereum as it has less transaction amount and “transaction speed will greatly affect the user experience.”

Another reason that’s hindering the mass adoption of Ethereum dapps is the fact that it is “only one of four blockchains” that needs gas fee for transaction.


BIS Report Questions Longevity, Efficacy of Proof-of-Work Based Cryptocurrencies (Coin Telegraph), Rated: AAA

A recent report from the Bank of International Settlements (BIS) has cast a spotlight on the efficacy and longevity of the proof-of-work (PoW) consensus and the future of Bitcoin.

The paper takes an in-depth look at how the Bitcoin protocol verifies payments using blockchain technology and various consensus algorithms.

In essence, the author suggests that a 51 percent attack by malicious miners is inherently profitable, using assumptions based on various economic considerations of Bitcoin mining.

Proof of Work Bitcoin
Source: Blockchain.com

Read the full report here.

Could a Blockchain Based Reputation System Prevent a Dystopian Future? (Hackernoon), Rated: AAA

With the accelerated globalization and digital nomadism of the 21st century, personal reputation has certainly lost its social sway. We have no single universal reputation score that is tethered to our online identity. Instead, we are able to have multiple identities with different reputations on various platforms and in all kinds of online communities that don’t really talk to each other or exchange data.

According to new research, US brands lose an estimated $200m USD every year to fake social media accounts, claiming to be influencers. In 2017 the social media spendings amounted to $2.1b USD and 11% of the profiting accounts were illegitimate.

Blockchains could indeed offer specific advantages over traditional reputation tracking systems that are hosted in a private database.

There is already one oracle-enabled reputation system working on a blockchain. It belongs to Augur, the trustless, decentralized oracle and predictions platform. The Reputation token (REP) is Augur’s native token. Users stake their REP tokens when choosing the outcomes of predictions and, in return, receive settlement fees from the market. The REP token holders who “report” on a market (by staking their REP on one of the market’s possible outcomes) are called reporters.

Another interesting example of a reputation system on the blockchain is ChainLink, a decentralized oracle service that takes information that is external to blockchain applications and puts it on-chain.


As a result of various fraudulent schemes, Ethereum-holders have lost $36 million over 2018. This is twice as much as in 2017, when scammers stole $17 million. This is according to the study conducted by an analytical company Chainalysis.

Crypto Trader Made $ 100,000 On the Augur Ethereum (ETH) dApp (Smartereum), Rated: A

The Ethereum (ETH) user, who is only known by a string of 40 letters and numbers, scored over 856 ETH, valued at $100,000 (even valued much higher at the time). While this figure is outstanding, the near clairvoyant or accurate soothsayer made the $100,000 in only 177 trades, which amounted to a $564 average per prediction.

According to Canadian crypto researcher Kevin Rooke, the trader managed to accomplish the feat via Augur.

The Augur trader who made over $100,000 (856 ETH) profits from more than 177 trades reportedly earned nearly 50% of Augur’s profits.

DApps Took In More Money Than App Store In First Year (Crypto Briefing), Rated: A

There’s no clear winner in the race for a killer app, but there’s no shortage of contenders. Decentralized applications (dApps) were put on the map in last year, generating$6.7 billion in 2018, according to a study by Dapp.com. Ten years ago, when the App Store completed its first full year in operation, iOS boasted more than 65,000 apps that produced $4.2 billion in revenue, placing dApps ahead by 37% for early performance.

Returning to the present, the App Store generated $12 billion in revenue in the third quarter of 2018 alone. Decentralized applications, meanwhile, are still hunting mainstream adoption. According to State of the Dapps, decentralized apps have about 56,000 daily active users across a  little more than 2,400 dApps. Transaction volume over the last 24 hours hovers at $15.7 million.

One of the blockchains with momentum on its side is Steem, whose community has proven to be more loyal than the market cap would suggest. Nearly half, or 44% of Steem “wallet (account) owners are actual dApp users,” according to Dapp.com. This compares to  2% for Ethereum (ouch) and 27% for EOS.

Steem Dapps
Source: Dapp.com

Guide to the Top Blockchain Conferences for 2019 (Crypto News Review), Rated: A

Held in London, the Blockchain Expo Globalis a massive event. While London is often seen as a leader in the financial world, especially in Europe, it’s easy to see how this super-large event draws in an impressive 12,000 attendees.

TOKENOMX offers several unique aspects in the Asian market for Blockchain conferences, including the absolute requirement of a non-pitch policy for all of the panelists. Think along the lines of the 20-minute Ted Talks.

Taking place in Hong Kong in 2018, the Blockchain Summit was noted by many to be one of the premier events of its kind for the year. It boasted over 1,000 in attendance, along with about 80 speakers and a wide variety of exhibitors. A few of the 2018 speakers included Terence Lam of Up Blockchain Technology Limited, Mun Shing Cheong of C Block Capital and Dr. Daniel Ng of Beijing Tsinghua University.

Hosted in Pattaya, Thailand, the CoinAdvice BlockChain Conference is an immensely popular option when looking for a great event to attend. Last year’s conference had over 1,500 in attendance, along with around 100 speakers and a nice variety of industry vendors.

Held in Hong Kong, TOKEN2049 will take place on March 13-14th, and it is gearing up to welcome over 2,000 attendees, plus at least 100 expert industry speakers.

How Blockchain Can Help With The Refugee Crisis (Forbes), Rated: A

Worldwide, a new surge in refugees is occurring. From the southern border of the United States to the Middle East, the number of displaced keeps on growing.  One out of every five refugees estimated to have crossed from Libya to Europe has drowned or disappeared. More than 50 million people are estimated to have been forcibly displaced from their homes. There are more people displaced now then at any other time post-World War 2. How could new technologies and innovations like blockchain and cryptocurrencies help?

Polkadot Plans ICO to Raise Another $ 60 Million (Cryptovevo), Rated: A

Blockchain project Polkadot is planning to raise up to a sum of $60 million through its upcoming initial coin offering (ICO).

According to reports, the startup’s latest fundraising effort through token sales would bring the value of all its tokens to a sum $1.2 billion, when those that are not in circulation are included.

Top 5 Penny Cryptocurrencies by Market Cap in 2019: XRP, TRON, Stellar, Cardano & IOTA (Blokt), Rated: B

At the time of writing this article, the top 5 penny cryptocurrency list sorted by market capitalization in descending order is XRP, TRX, XLM, ADA, and MIOTA.

European Union

Ethereum (ETH) Price Analysis: Major Risk of Further Declines (Blockonomi), Rated:  AAA

Ethereum price topped near the $122.00 level and declined heavily. ETH/USD broke the $116.20 and $112.60 support levels to enter a bearish trend.

  • Ethereum price settled below the key $116.20 support level, which is a bearish sign.
  • ETH/USD is likely to face sellers near a major bearish trend line with resistance at $114.00 on the 30-minute chart.
  • The price could extend the current slide and it may even test the $100.00 support zone.
Source: Blockonomi

New Crypto Valley Top 50 shows Swiss Blockchain industry defying ‘crypto winter’ (PwC), Rated: AAA

The recent fall in crypto currency prices saw the market valuation of the 50 largest Blockchain companies in Switzerland and Liechtenstein’s Crypto Valley plunge from US$44 billion to $20 billion in the fourth quarter of 2018. Over the same period, however, the number of participating companies soared by 20% from 629 to 750. Among them are four so-called ‘unicorns’ – start-ups already worth billions of dollar.

20% of the global market in Switzerland and Liechtenstein
‘Crypto winter’, as 2018’s severe market reversal has been nicknamed, has affected the valuation of participating companies but not their number. The market capitalization of the top 50 dropped from $44 billion to $20 billion in Q4 2018, a decrease of 55%. Most cryptocurrencies worldwide lost value during this period. The global crypto market according to Coinmarketcap was valued at the end of 2018 at $130 billion. The Crypto Valley Top 50 accounts for nearly 20% of this market.

On average, the top 50 companies are valued at $400 million each. Excluding the five largest, the average figure is still $365million; a sign that concentration is relatively low. The average valuation of all 750 companies was estimated at $27 million. Four unicorns – startups valued at over $1billion – are present in Crypto Valley: Ethereum, Bitmain, Dfinity and Cardano.

Around 420 people work in Switzerland and Liechtenstein in the 50 largest blockchain companies.

Market capitalization for Crypto Valley‘s Top 50 visualized

crypto valley market cap
Source: CVVC

Read the full report here.


Binance CEO has revealed that the Binance DEX new decentralized exchange will offer support for hardware wallets immediately once it launches.

Italy Announces First Set of Regulation for Blockchain Technologies (Ethereum World News), Rated: A

Despite this progress, there is still a long way to go. After this step, it is necessary that the Chamber of Deputies and the Senate of the Republic approve the decree for it to have legal validity and the technologies can be used in official activities.

Italy’s success in creating the decree comes after its participation in a joint initiative signed by several European countries to promote the adoption of blockchain technologies in different sectors.


Huobi DM Launches Litecoin Trading, Makes Plans To Launch XRP Trading Soon (Smartereum), Rated: AAA

If you’re still among the LTC traders who are looking for new places to do long and short trades, you’ll be pleased to hear that the Huobi derivative market now offers contract trading of the silver to Bitcoin’s gold. The company announced, on the 25th of January, that LTC is now listed on its platform.

EOS Tops Chinese Blockchain Rankings, Bitcoin (BTC) 15th (Ethereum World News), Rated: AAA

Despite holding the fifth position by market capitalization, with a valuation of $2.2 billion, EOS has managed to hold the top spot in blockchain appraisal by China’s Center for Information and Industry Development (CCID).

EOS was ranked #1 in the last iteration of the blockchain evaluation released in December 2018, a position the coin has held since June 2018. Bitcoin, with a market capitalization over twenty-eight times that of EOS, was ranked fifteenth in blockchain appraisal, up three spots from December’s rankings. Ethereum, which ranks third in market capitalization just behind XRP, held the distinction of the second highest rated blockchain by the government organization, with XRP being placed all the way in the 20th spot. ETH’s position remains unchanged from December.

This Crypto Ransomware is Targeting Bitcoin (BTC) Mining Rigs in China (Ethereum World News), Rated: A

Bitcoin (BTC) miners in China are in a bind after a ransomware by the name of ‘hAnt’ has been targeting specific mining rigs such as the Bitmain’s Antminer S9, T9 and L3. The ransomware has also found its way into Avalon rigs. The malicious code was first detected in August 2018. Up until now there is no clear source of origin. Some Chinese security experts suspect that hAnt comes hidden inside tainted versions of mining rig firmware that has been present online since last Summer.


South Korea Crypto Exchanges Bithumb, Coinone, Korbit and Upbit Launch New AML Program (Bitcoin Exchange Guide), Rated: AAA

Four of the biggest crypto exchanges in South Korea have decided to play an active role in ending money laundering using crypto. These exchanges will launch a joint AML initiative in order to foster a trading environment free of criminals.

Singapore central bank bars initial coin offering for breach of securities law (Asia Asset Management), Rated: A

Singapore’s central bank stopped an initial coin offering (ICO) because the issuer flouted the city state’s securities law and published details without having been exempted from releasing a prospectus.

The Monetary Authority of Singapore (MAS) says it barred the ICO after details of the offering was advertised on LinkedIn, the social network for professionals that’s owned by Microsoft Corp. The central bank did not name the issuer.

Singapore’s Securities and Futures Act (SFA) requires issuers to seek an exemption from having to register a prospectus with the central bank before publishing details of an offering.


February deadline for public comment on cryptocurrency regulation (fin24), Rated: AAA

The public have until February 15 to make submissions on policy and regulatory proposals for crypto assets like Bitcoin.

The SA Reserve Bank (SARB) has invited the public to submit comment on a consultation paper, which sets out proposals for cryptocurrency regulation. Currently there is no regulation for cryptocurrencies – which means there is no legal protection or recourse for users or investors of it.

Ugandan Company to Use Blockchain Technology to Trace Coffee Supply Chain (BTC Manager), Rated: A

Carico Cafe Connoisseur, a Ugandan coffee company founded in 2016, has adopted distributed ledger technology (DLT) to aid in the certification of coffee shipments and give customers the confidence that their products are from the right source, according to a Business Daily report on January 25, 2019.


Livestock on the Blockchain (ICO News), Rated: AAA

In a recent press releaseGraph Blockchain has given an update to the development of their LiveStock eco-system.  In the release they indicate that a new Memorandum of Understanding has been reached between themselves, Datametrex, and Lotte Data Communication Company.  This MOU was signed after the initial plan for the project was announced, in November of 2018.

West Indies & Caribbean

Beaxy Exchange Hits Over 4.2 Million Soft Cap, Announces Its First 25 Cryptocurrencies (Bitcoin Exchange Guide), Rated: AAA

Currently undergoing Beta testing, the exchange has officially announced their first 25 projects that will be available on the platform once it goes live. Along with the 25 projects that will feature once it becomes operational, Beaxy’s ongoing private token sale has already registered a massive $4.2 million soft cap.

Even though the current private token sale has already bypassed their soft cap of $4.2 million, it will remain so until the entire 600 million tokens are sold. However, if there will be any unsold tokens, Beaxy will avail them for direct purchase on the exchange for a period of 100 days from the day it launches officially.

Security Token Platform Polymath Locks 75 Million Tokens for 5 Years (Crypto Globe), Rated: A

Developers of Polymath, a platform designed to help securities “migrate” to the blockchain, have decided to lock up 75 million POLY tokens for the next five years.

75 million POLY tokens, currently worth about $9 million, represent 7.5% of the cryptocurrency’s total supply and about 25% of the current circulating supply.

Middle East

Iran inches closer to unveiling state-backed cryptocurrency (Al Jazeera), Rated: AAA

Shut out of the global financial system, Iran is inching closer to a workaround to US sanctions with the possible unveiling of its first state-backed cryptocurrency in the near future.

The virtual currency is anticipated to be announced at the annual two-day Electronic Banking and Payment Systems conference, which kicks off on January 29 in the capital, Tehran. The theme of this year’s gathering is “blockchain revolution”.

Latin America

Venezuela Gives Maduro the Boot, Will This be the End of His Petro Cryptocurrency? (CCN), Rated: AAA

Venezuela’s president Nicolás Maduro is being ousted over the country’s miserable financial situation.  Opposition leader Juan Guaidó announced himself as the country’s new leader this week.

In October, CCN reported that Venezuelans weren’t even buying the Petro. Instead, they were loading up on Bitcoin.


While Nicolás Maduro still struggles to survive, refusing to surrender his power to Juan Guaidó, the cyrptocurrency community of Venezuela can hope that, at least, a new head of the country will let them say goodbye to El Petro national digital currency.


George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *