Daily News Digest Featured News

Monday February 4 2019, Weekly News Digest

Ethereum
Source: NewsBTC

News Comments

United States

International

European Union

Asia

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News Summary

United States

Bitcoin Hovers Over the $ 3,450 Mark as Top Cryptos See Slight Losses (CoinTelegraph), Rated: AAA

At press time, Bitcoin is down a fraction of half percent on the day, trading at around $3,476, according to CoinMarketCap. Looking at its weekly chart on CoinMarketCap, the current price is about 3 percent lower than $3,594, the price at which Bitcoin started the week.

Bitcoin 7-day
Source: CoinMarketCap

Top altcoin Ripple (XRP) has lost over one percent in the 24 hours to press time and is currently trading at around $0.303. On its weekly chart, the current price is slightly lower than $0.316, the price at which XRP started the week. The current price is also lower than $0.333, the mid-week high reported on Jan. 31.

Twitter CEO Jack Dorsey Has Made A Bold Prediction About Bitcoin (Forbes), Rated: AAA

Bitcoin has had a troubled start to 2019 with many predicting the long-running bitcoin bear market, which has seen the bitcoin price fall by some 80% over the last 12 months, could run on well into this year.

Not all are predicting doom and gloom for bitcoin, however. And now the chief executive of microblogging site Twitter and payments processor Square, Jack Dorsey, has repeated his prediction that bitcoin will “probably” become the internet’s “native currency.”

Bitcoin and Ethereum’s Block Reward Halving Will Create Bullish Momentum (CCN), Rated: A

In the past 72 hours, the valuation of the crypto market increased by $3 billion to $114 billion as Bitcoin and Ethereum slightly recovered.

Both Bitcoin and Ethereum rebounded by around 3 percent since January 29 and currently remain volatile in a tight price range.

Market Cap
Source: CoinMarketCap.com

Crypto exchange Coinbase launches affiliate program (Token Post), Rated: AAA

Cryptocurrency exchange Coinbase has announced an affiliate program which will reward users for introducing people to cryptocurrencies.

How to Withdraw from Coinbase to PayPal (Coindoo), Rated: A

To withdraw funds from Coinbase to your PayPal account, select the “Buy/Sell” option from the Coinbase toolbar (on the right of Dashboard), and select “Sell.” On the “Sell From” section, then select the wallet you want to transfer the funds from, and select your PayPal wallet in the “Deposit To” section.

Next, select the amount of BTCETH, or whatever crypto you want to withdraw and send it to your PayPal wallet (in fiat currency).

In the following screen, check if the transaction details are correct, and if they are simply hit the “Confirm Sell” button.

Coinbase Director Leaves To ‘Build From Scratch (Chainbits), Rated: B

The director of Coinbase’s data science and risk department named Soups Ranjan has made a surprising move. According to the official report, he decided to leave the digital currency exchange after working there for three and a half years.

The former director is currently on the board of directors of RiskSalon, which is a monthly roundtable when it comes to risk management in the San Francisco Bay Area. It is also the company that he co-founded with the data science manager at Airbnb named Nate Kugland.

Ripple Price Analysis: XRP In Trouble, Bears Eye Further Declines (NewsBTC), Rated: AAA

  • Ripple price failed to break the $0.3075 and $0.3100 resistance levels against the US dollar.
  • There was a break below a major bullish trend line with support at $0.3050 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair remains at a risk of more losses below the $0.2960 and $0.2940 support levels in the near term.

LTC holders can buy Maserati or Cadillac for Litecoins (FXStreet), Rated: A

  • Bob Moore Auto Group accepts payments in Litecoins via a partnership with Aliant Payments.
  • LTC/USD has a chance to extend the recovery once $34.00 is cleared.

The Freshly Minted Blockchain Gaming Platform by HashCash Makes Streaming Games Online Profitable (PR Web), Rated: A

With HashCash, a games company can customize its own native digital asset on the blockchain or integrate its created ERC token on the network. Since HashCash accepts multiple currencies for investment purposes, their ICO partners also avail a wide variety of funding options.

Two US Congressmen to Officially Submit New Pro-Crypto Bills Soon (Coin Idol), Rated: A

The Token Taxonomy Act (TTA) is currently regarded as the heftiest pro-crypto bill of all the bills that have hitherto been debated.

With its primary focus on digital currencies, the act would free these cryptocurrencies from the definition of a security for the purposes of both the Securities Act of 1933 & the Securities Exchange Act of 1934. In addition, the TTA makes many tax law changes and launches an elision for particular crypto transactions. This Act is anticipated to be legally introduced on Thursday, February 14, a couple of days from now and start the process of becoming law.

Another bill that is in the process is House Resolution 528 which handles laws concerning the transferring of funds and exempts crypto from them. The bill was also officially tabled.

Wyoming Senate Passes Bill to Make Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoins Legal Form of Money (The Daily HODL), Rated: A

Lawmakers in the state of Wyoming reached a major milestone on Thursday with the passage of the “Digital Assets” bill. Introduced as a bill to support the recognition of cryptocurrencies as personal property, the legislation defines crypto assets as digital consumer assets, digital securities and virtual currencies.

It passed the Wyoming Senate by a vote of 28-1, with one excused senator. It now moves to the House.

STARTUP RECEIVES $ 1.7 MILLION TO HELP KEEP CRYPTOCURRENCY CONTROLLED (Bitcoinist), Rated: A

Token Relationship Management (TRM) has received $1.7 million from investors like Blockchain Capital to provide cryptocurrency startups with solutions to stay compliant with local regulations. 

Transforming Big Data Processing Through Blockchain and AI (Forbes), Rated: A

Big data is currently on everybody’s lips with stringent regulations the order of the day and security breaches happening on a regular basis. A company called Endor has come up with a blockchain and AI based solution to manage and process data.

ConsenSys Lists 16 Ethereum Blockchain-based Games You Can Make Money Playing (Blokt), Rated: A

ConsenSys media recently highlighted 16 live NFT-based gamesthat users can play for fun and earn some money in the process.

Games are using these ERC-721 tokens, and ConsenSys claims that one of their team members made $600 in just three hours using NFTs on Ethereum.

US Securities Regulator Solicits Blockchain Analytics Companies for Data Review (CoinTelegraph), Rated: A

The United States Securities and Exchange Commission (SEC) is seeking sources for blockchain data and its analysis, a statement issued by the agency revealed on Jan. 31.

According to the statement, the SEC is trying to find businesses able to provide blockchain data to support its risk monitoring and compliance enforcement activity, as well as inform the commission about digital assets.

Bittrex International Joins Universal Protocol Alliance to Support Next 100M Users of Crypto Assets (BusinessWire), Rated: B

Bittrex International has joined a coalition of blockchain organizations, including Uphold, Cred, Blockchain at Berkeley, Brave in support of a universal transparent reserve and custody standard that mints and burns Proxy tokens via the Universal Protocol Platform (UP Platform). The UP Platform, which plans to introduce the Universal Dollar and Universal Euro later this month, serves as the hub for the creation and management of ‘proxy’ tokens and user features that will drive mass user adoption of cryptocurrencies.

International

SWIFT announces PoC gateway with R3 (NameCoin News), Rated: AAA

Major world banking payments network SWIFT declared its plans to launch a proof-of-concept (PoC) of an entrance titled GPI Link which will permit blockchain package firm R3 to attach to SWIFT’s world Payments Innovation (GPI) payments from its platform.

Binance CEO: Amazon Will Be Forced to Issue a [Crypto?] Currency Sooner or Later (CCN), Rated: AAA

“Amazon will have to issue a currency sooner or later,” Changpeng Zhao, the CEO of crypto exchange giant Binance, tweeted Saturday to his more than 277,000  followers on Twitter.

Amazon currency

Top 5 Crypto Performers Overview: Litecoin, Binance Coin, Ripple, Bitcoin, Tron (CoinTelegraph), Rated: AAA

LTC/USD

After breaking down of the support at $47.246 in mid-November of last year, the LTC/USD pair found support at $23.090. The bulls have been attempting to push the price higher, but faced selling close to the $40 mark.

If the overhead resistance zone of $40–$47.246 is scaled, we anticipate the start of a new uptrend. The longer the pair remains inside a range, the stronger will be the eventual breakout. The targets to watch on the upside are $65.561, and above it $69.279.

LTC USD
Source: CoinTelegraph

XRP/USD

If the price turns down and breaks below $0.27795, it can drop to the yearly low of $0.24508. A break below the yearly low will resume the downtrend.

However, if the bulls push the price above $0.45097, we expect a double bottom formation that will have a pattern target of $0.62399. Above this level, a move to $0.7644 is probable.

BNB/USD

BNB USD
Source: CoinTelegraph

BTC/USD

Both moving averages are sloping down, and the RSI is in the negative territory, which indicates that the bears are in command. If the bears reassert their supremacy and plummet the pair below $3,236.09, the downtrend will resume. The targets to watch on the downside are $3,000, which is a psychological support, and below it $2,600.

BTC USD
Source: CoinTelegraph

TRX/USD

On the other hand, if the bears sink the digital currency below $0.02352523, a drop to the support of the range at $0.0183 will be likely. Therefore, we suggest the traders maintain their stop loss at $0.021.

Top 3 Coins to Watch Feb 4 – Feb 10, 2019 (Coin Codex), Rated: A

Tron (TRX)

After the BitTorrent ICO launched on Binance, the exchange allowed participants to contribute in BNB or TRX tokens and on February 11, the BitTorrent Foundation will conduct its first airdrop of 10,890,000,000 BitTorrent Token BTT, 57.42% tokens to TRX holders. Over the next 12 months following the initial airdrop, 11,880,000,000 BTT will be offered to TRX holders, which is around 1.2% of the total supply.

Ethereum (ETH)

Serenity will also see the network transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. The platform is also set to benefit from the ETH Denver conference running from Feb 15 to 17, 2019.

Augur (REP)

The platform has been boosted by the launch of Veil, and the simplified UI makes it easier to make price predictions or bet on a number of events as well as buy leveraged long or short positions in BTC/USD, REP/USD, and ZRX/USD.

Initial Coin Offerings (ICOs) for SME Financing (BTC Manager), Rated: A

Small to medium enterprises serve as the backbone to many of the world’s developed and emerging economies.  These are companies with fewer than 250 employees, who contribute up to 60 percent of total employment and up to 40 percent of a nation’s income (GDP) to their economies according to the World Bank.

Despite their contributions, the biggest challenge that most SMEs face today is one of limited access to capital. SMEs often turn to banks to ask for a loan but are rejected because of their inability to supply enough collateral, audited financials, references, proofs and other forms of documentation. Through the tiresome application process, only a very small number of businesses get the support they need to grow, while the vast majority must rely on internal funds or loans from friends and family.

Coinpulse Crypto Exchange Shutting Down Next Week “Until Further Notice” (Crowdfund Insider), Rated: A

Coinpulse, a “community-based” cryptocurrency exchange launched at the end of June 2018, has published an “urgent notice” advising all users to withdraw their tokens by February 7th, 2019, when the exchange will be closed for “maintenance until further notice.”

The January 31, 2019, notice states that all trading and deposits have been suspended since February 1, 2019.

The exchange is seeking investors/buyers, “to acquire Coinpulse (which includes the exchange, website, its trademark and roughly 50M CPEX dev/unused tokens).”

These Payment Gateways Will Enable Your Business to Accept Cryptocurrency (Bitcoin.com), Rated: A

Bitpay is by far the most common method for merchants to accept bitcoin (BTC), bitcoin cash (BCH) and other cryptocurrencies right now.

Another popular way to accept bitcoin payments is to use Coinbase Commerce. This is ideal for an online business as it enables merchants to accept payments in bitcoin and instantly convert it into fiat to save themselves from price volatility.

Gocoin is one of the largest crypto payment processing services and supports a number of cryptocurrencies.

Open source payment processor Btcpay is particularly useful for more technically accomplished merchants.

European Union

ETH Continues To Bleed Below $ 108 (NewsBTC), Rated: AAA

This past week, ETH price found support near the $102 level and later recovered against the US Dollar. The ETH/USD pair traded above the $106 and $108 resistance levels. There was also a close above the $108 level and the 100 hourly simple moving average. However, the price failed to break the $110 resistance level and later started a fresh decline. It moved below the 50% Fib retracement level of the last wave from the $102 low to $110 high. Besides, there was a break below $106 and the 100 hourly simple moving average.

Ethereum
Source: NewsBTC

Ethereum (ETH) Developers Delay Mining Algorithm Upgrade for Code Audit (Smartereum), Rated: A

Developers who have been contributing to the new Ethereum (ETH) protocol have elected to delay the decision to submit the code which would stifle the benefits of high-power ASIC miners who are competing for rewards from the network.

Ethereum [ETH] takes a step forward with release of new version of Geth and Parity for Constantinople (AMBCrypto), Rated: A

The team started the meeting by discussing the Ropsten fork for Constantinople. Here, at the time of discussion, the fork was around 3,000 blocks away and only one fork is going to occur on the network, unlike the two forks decided for Constantinople, with the other fork named Petersburg.

The second fork was introduced to disable the Ethereum Improvement Protocol in which issues were identified hours before the previous schedule for Constantinople that was set to occur in January 2019. The updated version for both Geth and Parity was released by the respective teams this week.

VanECK, Binance and Gemini Among Major Newsmakers (CoinGape), Rated: AAA

Binance, the world’s largest cryptocurrency exchange by market cap of $618 million as per the data provided by the Coinmarketcap has just announced that users will be now able to buy cryptocurrencies through their debit and credit cards. The exchange partnered up with the Israel-based payment processing firm Simplex to enable the purchases with Mastercard and Visa.

Cryptocurrency is over – Fintech leaders (My Broadband), Rated: A

Crypto fever has truly broken.

That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe.

Crypto Valley Association appoints five new board members (Token Post), Rated: B

The Crypto Valley Association (CVA) has announced the election of five new Board Members who will work towards supporting its rapid growth.

During its Annual General Assembly, the association elected Kevin Lally, Executive Manager at the CVA; Kamales Lardi, Digital Strategist & Founder of Lardi & Partner Consulting, Mattia Rattaggi, Head of Regulatory Affairs at SEBA Crypto AG and independent crypto / blockchain advisor, and Martin Berweger, Attorney at Law and Civil Law Notary at Wenger & Vieli Ltd., to the Board of Directors. Daniel Haudenschild, formerly CEO of Swisscom Blockchain, has been elected as the President.

United Kingdom

Blockchain And The Resistance Of Incumbents (Forbes), Rated: AAA

Competition is built into the fabric of society, but then again so is a sense of community. It is through the notion of trust that they are reconciled. According to Dunbar, 150 is the maximum number of stable relationships any single individual can maintain before rules and norms need to be enforced to broker the trust required. Building a global business clearly mandates the use of these rules.

Finding ways to trust, particularly at a distance, is tricky. This is perhaps why the world is so excited about blockchains. Distributed consensus through clever cryptography and economic incentives, orchestrated by an impartial protocol is a tantalising prospect. As much as it is promising, it is conceivably frightening too. Trust in the code is easier said than done.

China

Ripple Eyes China For Expansion, Targeting The Country’s Billion Remittance Market (Oracle Times), Rated: AAA

Jeremy Light told CNBC in an interview that Ripple was targeting China and its enormous population for offering its suite of cross-border payment solutions there.

It seems that Ripple’s focus would “unlikely be on advancing the adoption of its cryptocurrency, XRP, as Beijing has clamped down on the trading of virtual currencies.”

So, Ripple laid its eyes on China for quite a while, and the company is currently looking for a country manager to launch a new office in Shanghai.

51% of Chinese economists support a central bank digital currency (Crypto Line News), Rated: A

According to a survey conducted by Tencent Financial Science and Technology Think Tank, 51 percent of economists in the country are in support of a central bank digital currency. The Survey was conducted in the form of a questionnaire with the respondents being 100 Chinese economists.

Australia

Australia becoming friendlier to crypto with 246 licensed exchanges (Chepicap), Rated: AAA

With the latest approval received by the US-based exchange, CryptoZoom to operate in the country, AUSTRAC now has 246 registered crypto exchanges in their portfolio.

Asia

Why South Korea Had to Ban Crypto ICOs and Risk Losing Multi-Billion Dollar Opportunities (CCN), Rated: AAA

This week, the government of South Korea officially decided to maintain its existing blanket ban on domestic initial coin offerings (ICO) in a move that could benefit other major crypto markets in Asia.

Currently, based on existing policies in South Korea, local investors are permitted to participate in token sales conducted outside of the country.

The Indian government is worried that cryptocurrencies may destabilise the rupee (Quartz), Rated: AAA

From money laundering to terror financing, the risks associated with cryptocurrencies are well known. But a high-level panel tasked with drafting rules for India’s virtual currency ecosystem is now obsessed with its impact on a less-explored area.

The committee, led by the top bureaucrat Subhash Chandra Garg is believed to be in a tangle over the impact that digital coins will have on the Indian rupee if they are allowed for making payments.

Global, Non-Profit Blockchain Knowledge Hub Launches In Singapore (Markets Insider), Rated: A

Marking the 10 year anniversary of blockchain technology, Blockchain Centre, the world’s first non-profit blockchain knowledge hub, has launched Blockchain Centre Singapore. With centres in AustraliaChinaColombiaLithuaniaMalaysiaRussia, UAE, and the USA, Blockchain Centre Singapore joins the first-ever global network that connects blockchain ecosystems in every region around the world.

Implementation Of Distributed Ledger Technology In OTC Markets (CoinTrust), Rated: A

The proposal to use distributed ledger technology (DLT), such as blockchain, to address challenges in non-listed and over-the-counter (OTC) markets has received mixed opinions from industry players who recognize the benefits but remain concerned about their implementation. For the move last November, the Securities Commission Malaysia (SC) unveiled its blueprint Capital Market Architecture Blueprint in a Decentralized World. Its objective is to encourage industry players in the unlisted market to provide more access to information for investors.

App Square is Here : Enjoy all the Innovative Blockchain DApps on Infinito Wallet (Sys-Con), Rated: B

Our long-awaited browser for DApps, App Square, is officially available in Infinito Wallet, version 2.4.

Currently, App Square will support DApps built on Ethereum blockchain. Soon, DApps built on EOS, NEO, Ontology and more will be added to the Universal Wallet.

At launch, App Square will come with five DApps, in the three categories below:
– Exchange : Kyber Network, Nexo
– Finance : Celsius Network
– Compliance : Blockpass, Coinfirm

MENA

Saudi Arabia and UAE test cryptocurrency for cross-border payments (engadget), Rated: AAA

A government-developed cryptocurrency isn’t unheard of — Venezuela controversially launched “Petro” in 2018 in an effort to get around sanctions. Now, it’s Saudi Arabia’s and the UAE’s turn to launch a cryptocurrency of their own: one they jointly developed to work between both countries. The nations, which are close allies and two of the richest in the world, have even already started testing their digital currency. This pilot program will help them see if the blockchain technology truly can enable seamless cross-border transactions with lower remittance costs. It will also help them figure out how a state-owned cryptocurrency will impact monetary policies.

Iran Finally Launched Gold Backed Cryptocurrency (BTCNN), Rated: A

Iran has finally launched its cryptocurrency after much speculation. The stable coin known as PayMon which was launched purposely to bypass economic sanctions from the united states was launched recently as reported by Financial Tribune.

Bitcoin (BTC) sent to Hamas through Coinbase/Binance accounts (Chepicap), Rated: A

Palestinian resistance group Hamas arranged to receive funding in Bitcoin (BTC) from Coinbase and Binance accounts. The transfers were blocked when they were detected by Israeli blockchain intelligence company Whitestream, as reported by Globes.

Canada

QuadrigaCX – Canada’s Largest Exchange – Lost Crypto Wallets Holding Cryptos Worth $ 190M (Smartereum), Rated: AAA

The largest digital currency trading platform in Canada – QuadrigaCX – is currently in a very ugly situation. The digital currency trading platform recently announced that it could no longer find digital currency wallets holding digital currencies worth $190 million. The digital currencies are stored in the cold storage wallets of the exchange, and they have lost access to the wallets.

$190 million in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Bitcoin Gold were lost.

Latin America

Venezuela: A Country That Desperately Needs Cryptocurrency (The Currency Analytics), Rated: AAA

Last week, I had six friends from Caracas, Venezuela visit me. It was so good to see them again. Two of my friends had little babies that I had never met before. During their visit, I would ask them about their country, the economy and cryptocurrency.

They spoke openly about the daily hardships and struggles they endure on a daily basis. It’s not uncommon to spend hours and hours waiting in line to just to get into the grocery store. Once you make it through the front door, you hope there is still food on the shelves to purchase. Sometimes there are only a few items in the store left. But no one can buy them because they’re so expensive. It’s sad. Many people in Venezuela go to bed hungry every night.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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