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Monday June 17 2019, Weekly News Digest

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United States

International

European Union

United Kingdom

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News Summary

United States

Bitcoin Price Skyrockets to $ 9,387: What’s Behind the New 2019 High? (CCN), Rated: AAA

The bitcoin price has surged by seven percent on the day, recording a 32 percent monthly gain and a 151 percent year-to-date gain against the U.S. dollar.

Bitcoin charts

Earlier this week, when the bitcoin price was hovering at around $8,100, the “real 10” volume of the asset was at around $600 million.

As of June 16, the real 10 volume of bitcoin remains above $1.1 billion, up nearly two-fold within a seven-day span.

Bitcoin Worth Over $ 9,200 as Top Cryptos See Growth (Coin Telegraph), Rated: AAA

Most of the top 20 cryptocurrencies are reporting moderate growth on the day by press time, as bitcoin (BTC) crossed the $9,200 mark.

Bitcoin is currently up over 6% on the day, trading around $9,250 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 13%.

Bitcoin Coin360

Bitcoin Suddenly Bounces–Here’s Why (Forbes), Rated: AAA

Litecoin has risen by more than 300% so far this year and is up a staggering 43% over the last month alone. Bitcoin, in comparison, is more-or-less flat over the last month, having briefly climbed over $9,000 per bitcoin before falling back a couple of weeks ago.

Bitcoin price Forbes

Earlier this week, a U.S. venture capitalist warned the market is heading for a “supply shock” thanks to next year’s closely watched bitcoin halvening event, now just 342 days away.

Bitcoin Price Analysis: Father Of Cryptocurrencies Bitcoin (BTC) Crosses $ 9000 (CryptoNewsZ), Rated: A

By the end of April also we can see another surge in the price. In just 16 days, the coin gained 57.88%. The market cap on 15th May was 143,484,567,240 USD and the value of each coin was 8175.16 USD. The current market cap and the value of each coin are respectively 11.20% and 10.27% more than the figures for the last month.

Bitcoin

Binance To Launch Regulatory Compliant Fiat-to-Crypto U.S. Exchange (Cryptomaniaks), Rated: AAA

Binance, the world’s largest crypto exchange, just announcedthat it will be launching a separate cryptocurrency exchange for U.S. customers.

Named Binance.US, the new platform will be operated under BAM Trading Services, a FinCEN-registered partner that aims to bring the trading platform into compliance with U.S. regulations.

United States Residents Will Lose Access to Many Altcoins Starting in September (Hilltop Monitor), Rated: A

“We are excited to finally launch Binance US and bring the security, speed, and liquidity of Binance.com to North America”. This essentially means that users from the U.S. are violating the Terms of Use, and will hence be unable to trade on the platform as of September 12, 2019.

Facebook’s New Cryptocurrency, Libra, Gets Big Backers (WSJ), Rated: AAA

Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Uber Technologies Inc. to back a new cryptocurrency it plans to unveil next week and launch next year.

The financial and e-commerce companies, venture capitalists and telecommunications firms will invest around $10 million each in a consortium that will govern the digital coin, called Libra, according to people familiar with the matter. The money would be used to fund the creation of the coin, which will be pegged to a basket of government-issued currencies to avoid the wild swings that have dogged other cryptocurrencies, they said.

How Facebook’s Stablecoin Could Impact Crypto Tax Regulations (Inside Bitcoins), Rated: A

Crypto expert and executive member of the Wyoming Blockchain Task Force, Caitlin Long, has predicted that Facebook’s much-anticipated cryptocurrency will likely pay interest to its users, come adoption.

Going with Long’s prediction of the potential of the stablecoin to amass revenue for the company, taxes would also be an inevitable elephant in the room that the corporation would have to address—for the company and its users.

Bitcoin billionaires Tyler and Cameron Winklevoss (CBS News), Rated: AAA

Indeed, the “Winklevii” did seem to have everything: Pretty girls, private planes, invitations to all the best parties.  Why did two guys – Olympic athletes raised in Greenwich, Connecticut,  educated at Harvard and Oxford – gamble it all on something as slippery and nearly incomprehensible as bitcoin?

Cameron said, “If you believe that bitcoin is the beginning of the internet of money, you can actually buy a piece of it. Anybody in the world can. And there’s tons of people who have made a lot buying a piece of that future.”

Tyler said, “Our thesis at the time was, bitcoin’s going to disrupt gold. And gold has a market cap of $7 trillion today. So, if bitcoin’s gonna be worth $7 trillion or more, this seems like a cheap asset.”

Ripple up 3.07% as all of top five crypto currencies rally (Coin Insider), Rated: A

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone up 1.48% in aggregate. Leading the way was XRP, which yielded holders a return of 3.07% from the day prior. As for the worst performing crypto out of the Big Five, yesterday that was Ethereum; it came in at up 0.02%.

Amazon Customers to Make Purchases with Ether (ETH) Thanks to Startup Partnership (BTC Manager), Rated: A

In a press release issued on June 13, 2019, crypto payments firm CLIC Technology Inc. announced apartnership with B2B blockchain infrastructure company Opporty to jointly develop an in-browser extension that would enable customers to make purchases from Amazon with the ether (ETH) cryptocurrency.

Jack Dorsey, Twitter and Square CEO, Talks Up Company’s Nascent Crypto Development Team (Crowdfund Insider), Rated: A

Jack Dorsey, self-taught programmer and co-founder of Twitter and Square gave two interviews this week in which he talked up Square’s recent efforts to coalesce an in-house team of developers that will contribute to coding Bitcoin and possibly other cryptocurrencies.

Scientists track cryptocurrency discussions on Reddit to learn how disinformation spreads (GeekWire), Rated: AAA

Computer scientists from the Pacific Northwest National Laboratory have mapped the ebb and flow of Reddit’s discussions about cryptocurrency — not only to see how online chatter can predict market behavior, but also to gain insights into how disinformation goes viral.

“Cryptocurrency is a very good proxy program for disinformation,” said PNNL data scientist Svitlana Volkova, one of the authors of a study presented at the Web Conference 2019 in San Francisco.

BitTorrent (BTT) Market Capitalization Reaches $ 272.87 Million (Rockland Register), Rated: A

BitTorrent (CURRENCY:BTT) traded down 0.5% against the dollar during the one day period ending at 21:00 PM E.T. on June 15th. BitTorrent has a total market capitalization of $272.87 million and approximately $44.26 million worth of BitTorrent was traded on exchanges in the last 24 hours. During the last seven days, BitTorrent has traded 0.4% higher against the dollar. One BitTorrent token can now be purchased for $0.0013 or 0.00000015 BTC on major exchanges including Binance and UPbit.

Atecs Capital Launches a New Systematic Approach to Crypto Trading (Yahoo! Finance), Rated: A

With the market back on its way up in 2019, cryptocurrency trading returns into the spotlight, bringing the need for a proper environment where people can profit and generate returns in the long run. That’s the main goal of Atecs Capital, which had designed an entire ecosystem for cryptocurrency traders.

Three Big Blockchain Technology Challenges That Impact Retail (Forbes), Rated: A

When it comes to retail, those details don’t matter. It’s fair to say that most retailers are not going to care about the philosophical debates around how tokens are generated or how new blocks are added to the blockchain – they just want to know that it does what it’s supposed to do, and that this “something” is better than they have today. The barriers to blockchain adoption in retail might depend in part on answering these deep philosophical questions, but what really matters to retailers are three simple things: Performance, Privacy, and Ease of Use.

Craig Wright briefly forgets he ‘invented’ Bitcoin (The Next Web), Rated: B

An eagle-eyed Twitter user shared a clip from Wright’s presentation, in which Wright (hilariously) says the following as part of a “bit.”

… there’s this whole section, I remember some white paper, um, back in 2008, had this section on how identity worked in Bitcoin.

I remember reading it… probably when I wrote it... and there was this different way of doing things …

Nevada Governor Signs Multiple Blockchain-Focused Bills (BTC Manager), Rated: B

The most important of these bills is SB161, which creates a regulatory sandbox for fintech firms in the state. Notably, the sandbox will be established and administered by the U.S. Department of Business and Industry.

Similarly, bill SB162 establishes a legal definition for “public blockchain” within Nevada Revised Statutes. The bill also enhances the legal credibility of electronic certificates as it requires government agencies to accept all such documents, including the ones on a distributed ledger.

Further, bills SB163 and SB164 authorize companies to maintain corporate records on a blockchain and define virtual currencies as intangible personal property. The latter bill has tax implications as by setting virtual currencies as personal property, it exempts its holders from personal property taxation.

Ethereum Gold (ETG) Trading 118.3% Higher Over Last Week (Tech Know Bits), Rated: A

Ethereum Gold (CURRENCY:ETG) traded up 36.4% against the US dollar during the 1-day period ending at 9:00 AM ET on June 16th. One Ethereum Gold token can currently be bought for $0.0046 or 0.00000051 BTC on major exchanges including CoinExchange and Stocks.Exchange. Ethereum Gold has a total market capitalization of $55,156.00 and $13.00 worth of Ethereum Gold was traded on exchanges in the last day. Over the last seven days, Ethereum Gold has traded up 118.3% against the US dollar.

International

Facebook, Binance, Chinese Yuan Combine to Boost Bitcoin above $ 9000 (Yahoo! Finance), Rated: AAA

The bitcoin-to-dollar exchange rate touched $9,388 at 0600 UTC — its highest since May 30 — on San Francisco-based cryptocurrency exchange Coinbase. The move brought the pair’s net rebound gains close to 200-percent, including a 154-percent since 2019 open alone. It further prompted bitcoin’s market capitalization to jump above $165 billion. At its highest, the cryptocurrency’s net valuation was more than $327 billion.

Bitcoin above $9300

Top 5 Crypto Performers: NEO, LTC, BTC, ETH, XMR (Coin Telegraph), Rated: AAA

The total market capitalization of cryptocurrencies had come scaringly close to breaking down below the $100 billion mark in mid-December of last year. At that time, sentiment was very weak and every rally was being sold on. There were talks of cryptocurrencies never seeing their lifetime highs again.

However, fast forward seven months and total market capitalization is inching towards the $300 billion mark.

NEO/USD

Currently, the pair is facing stiff resistance at the 50-week SMA, above which the rally can extend to $20. If this level is also crossed, a move to $25 is probable.

NEO

LTC/USD

We have spotted a large rounding bottom that is developing on the LTC/USD pair. This bullish setup will complete on a breakout and close (UTC time frame) above $184.7940, with a target objective of $346.498. However, we will not get overly bullish until the pattern completes.

BTC/USD

Bitcoin (BTC) is on fire as every dip is being bought aggressively. Some of the critical news and events that might be helping the rise are the upcoming testing of futures trading on the Bakkt platform, the end of the bear market, the ongoing trade war between China and the U.S., the reported launch of Facebook’s own stablecoin, etc.

BTC USD

ETH/USD

The ETH/USD pair is consolidating roughly between $225 and $300 for the past three weeks. This is a positive sign as it shows demand close to $225. The moving averages are on the verge of a bullish crossover, which indicates a change in trend.

XMR/USD

XMR

New CryptoCompare Research Assesses Top Performers Among Crypto Exchanges (Coin Telegraph), Rated: AAA

To prepare the ranking of cryptocurrency exchanges, CryptoCompare analyzed data collected between May 1 and May 30 of the current year, considering a series of key components such as geography, legal and regulatory assessment, investment, company quality, data provision and market quality, and trade surveillance.

Out of the ten leading cryptocurrency exchanges in terms of the aforementioned metrics, Coinbase leads the list and is followed by Poloniex and BitstampBinance, the world’s leading cryptocurrency exchange in terms of adjusted trading volume, is ranked 8th.

Top performers are reportedly located in the United StatesSouth Korea, and Japan, while Malta is underperforming in its resident digital currency exchanges. CryptoCompare states in the report that those trading platforms that reside in jurisdictions with stricter regulations tend to perform better.

Cryptocurrency exchanges
Source: CryptoCompare

Read the full report here.

Chainlink partners with Google on blockchain project (Coingeek), Rated: A

There has been a reason that Google has become such a giant. It is their ability to create new technology, as well as form strategic partnerships, have made them into the global behemoth that they are. That trend continued on June 14, when it was announced that the company had joined forces with Chainlink on a new blockchain technology project.

Specifically, this will make BigQuery data available in an Ethereum smart contract, by reducing the risks to the blockchain platform. Plus, it would hide transactions so that they appear completely anonymous as well as settle the speculative bets that occur on prediction marketplaces.

Dash Forms New Partnership With Cryptocurrency Augmented Reality App Aircoins (Crowdfund Insider), Rated: A

Digital currency for payments and e-commerce platform Dash announced on Thursday it has formed a new partnership with cryptocurrency augmented reality (AR) mobile app, Aircoins. Dash reported that through the partnership, Aircoin users may hunt, collect, and send Dash cryptocurrency worldwide alongside other Aircoins users in an AR environment.

Who Is the Most Important Person in a Crypto Company? (The Daily HODL), Rated: A

There are so many crypto companies popping up around the world that it’s becoming very hard to keep up. However, many investors are now starting to finally realize that not every crypto project has its merits and not all are guaranteed to succeed.

The CEO

The CEO of the company is usually the face of the whole project. If this person is somehow regarded as unprofessional, incompetent or untrustworthy, the whole project is in danger of falling through and never making it to the list of successful blockchain firms.

The Developer

The developer is the backbone of the project. He or she will bear nearly all of the responsibility for making sure the platform is up to date and compliant with the customers’ needs.

The Marketer

The marketer’s job is to reach as many people as possible through the company’s campaigns.

Bytom.io Launches The 2019 Global Dev Competition, $ 100,000 Up For Prizes, Winner Gets $ 30,000 (CryptoNewsZ), Rated: A

The Global Dev Competition 2018, held in Hangzhou, China, was a huge success, and this time, Bytom.io wows to make it even bigger. The 2019 DevCon2 final will be held in San Francisco, and $100,000 will be awarded in prize money.

Failed Crypto Projects Get Final Resting Place In Altcoins Graveyard (CCN), Rated: A

Failed cryptocurrencies can enjoy an eternal resting place after they’re sent off to an altcoins graveyard called ShitcoinGraveyard.

Auctionity, a Dapp based on Ethereum blockchain to auction NFTs in Ether (Malta AI & Blockchain Summit Email), Rated: A

Auctionity allows participants to create auctions, bid on and buy goods in real-time on a global, decentralized network, while maintaining payment and delivery guarantee.

The platform is the first-ever, 100% blockchain-based application enabling people to sell Non-Fungible Tokens (NFTs) at auction.

More universities offering blockchain programmes to train future professionals (Study International), Rated: A

According to Coinbase’s research, there has been an increase in the number of universities teaching students about blockchain and cryptocurrencies.

They said: “42 percent of the world’s top 50 universities now offer at least one course on crypto or blockchain”, while such courses are attracting students from a range of majors.

AmaZix Seals Partnership with STO Issuance Platform DigiShares (AmaZix Email), Rated: B

AmaZix is pleased to confirm its latest partnership with DigiShares, the end-to-end white label platform solution for tokenized securities. With this new cooperation, AmaZix is making further inroads into the digital securities sector and will be better able to support key clients seeking to issue security tokens.

European Union

Ethereum 2.0 set for launch on January 3, 2020 (FX Street), Rated: AAA

The initial phase of Ethereum 2.0 which will see the second largest cryptocurrency project on the market move to a proof-of-stake (PoS) consensus algorithm is slated for launch on January 3, 2020.

Ethereum (ETH) Goes Beyond $ 270 Mark after a 7 days’ Struggle (CryptoNewsZ), Rated: A

From 240 USD to it has made its journey above 270 USD in the previous 7 days. Notably, the past 1 day’s growth has been phenomenal. With two big surprises for the intraday traders, the coin managed to get itself up from 262 USD and finally managed to reach beyond 270 USD.

Ethereum price

Polish Bank Alior Uses Public Ethereum Blockchain For New Document Authentication Feature (Forbes), Rated: A

Warsaw-based Alior announced that it is beginning to offer a feature that will allow customers to check on the authentication and integrity of official documents they receive using the public ethereum blockchain that supports the ether cryptocurrency valued at more than $27 billion. While financial institutions have been historically more open to working with permissioned, private blockchains that they have more control over, this use of a public blockchain is among the very first.

PwC Blockchain Expert Roman Schnider Joins Tezos Foundation As CFO And Head Of Operations (Tezos), Rated: A

The co-creator of PricewaterhouseCoopers (PwC) Switzerland’s blockchain initiative is joining the Tezos Foundation in Zug as Chief Financial Officer and Head of Operations. With Schnider, the Tezos Foundation Council strengthens its operations team in Zug with an experienced investment banking and assurance specialist.

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency (Bitcoin.com), Rated: A

To initiate a new payment with Piixpay you have to provide the beneficiary’s name and Iban number. You are required to enter the exact amount in euros, as the platform processes bank transfers in Europe’s single currency.

Then you have to choose the crypto you are going to spend. Piixpay currently supports four major digital coins – bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and dash (DASH) – as well as a stablecoin backed by euros. Est-coins (ESCT) are issued by Piixpay’s operator, Ungaro LLC, and have a redemption value of €1 per coin.

United Kingdom

Crypto is coming: get ready to spend Facebook’s money (The Guardian), Rated: AAA

On Tuesday, the social media behemoth is expected to reveal its own cryptocurrency, which has variously been called Libra and GlobalCoin. However, unlike other cryptocurrencies, the new creation will not have been founded in the spirit of libertarianism, outside the backing of established, conventional authorities. Instead, it appears to have the endorsement of more than 12 corporations, from Uber to PayPal, Visa and Mastercard.

Another indication that the Facebook currency will be different from its predecessors is the fact that it will be pegged to a number of government-issued currencies, in a bid to avoid the vast value fluctuations that have dogged other digital currencies.

Blockchain Can Repair the Distrust 87% of UK Adults Feel Towards How Big Tech Handles NHS Data (Be in Crypto), Rated: A

According to a recent poll by YouGov, only 13% of people believe big tech will protect patient-doctor confidentiality if they have access to anonymous NHS data. Can blockchain technology restore faith?

China

Ontology Price Prediction June 2019 — Positive Developments And Bullish Technical Outlook (Use the Bitcoin), Rated: A

The crypto winter saw Ontology price lose over 80% of its value. However, recent developments promise to push its price back up. Currently, ONT is trading at a price of $1.45 with a market cap of $716 million.

Australia

Seven mistakes to avoid in blockchain projects – Gartner (IT Brief), Rated: AAA

Only 11% of CIOs indicated they have deployed or are in short-term planning with blockchain, according to the Gartner, Inc. 2019 CIO Agenda Survey of more than 3,000 CIOs. This may be because the majority of projects fail to get beyond the initial experimentation phase.

  • No. 1: Misunderstanding or Misusing Blockchain Technology – Gartner has found that the majority of blockchain projects are solely used for recording data on blockchain platforms via decentralised ledger technology (DLT), ignoring key features such as decentralised consensus, tokenisation or smart contracts.
  • No. 2: Assuming the Technology Is Ready for Production Use
  • No. 3: Confusing a Protocol With a Business Solution
  • No. 4: Viewing Blockchain Purely as a Database or Storage Mechanism
  • No. 5: Assuming That Interoperability Standards Exist
  • No. 6: Assuming Smart Contract Technology Is a Solved Problem – Conceptually, smart contracts can be understood as stored procedures that are associated with specific transaction records. But unlike a stored procedure in a centralised system, smart contracts are executed by all nodes in the peer-to-peer network, resulting in challenges in scalability and manageability that haven’t been fully addressed yet.
  • No. 7: Ignoring Governance Issues
Asia

What Bitcoin Ban? Indian Central Bank Denies Involvement in Crypto Ban Bill (Yahoo! Finance), Rated: AAA

The Reserve Bank of India (RBI) has denied knowledge of a proposed bill which would see Bitcoin and crypto ownership in India made entirely illegal. Reports surfaced last week that lawmakers in India were working on legislation that could carry a 10-year prison sentence for anyone caught holding cryptocurrency.

Amid these reports, the RBI has responded to a Right to Information request filed on June 4 by a lawyer specializing in blockchain matters. The bank states that it was not in communication with governmental agencies during the legislative process and had not received a copy of the bill.

Math Wallet Adds Tron (TRX) to its Portfolio, Partners with Top Smart Contract Security Firm (Altcoin Buzz), Rated: A

According to a tweet, Math Wallet will be extending its services to Tron-based tokens. Based on the press release, its support for TRX tokens mean that users of the wallet will be given unrestricted access to transact with TRC 10 and TRC 20 tokens via the wallet.

Eurasia

Russia Is Getting Serious About Blockchain, but Remains on the Fence About Cryptocurrencies (Coin Telegraph), Rated: AAA

Russia’s stance on cryptocurrencies has been mixed and fluid, as demonstrated by how the “CryptoRuble” — the national stablecoin project — has been unfolding. First, the prospect of  using a substitute for conventional money was deemed “illegal” by financial ombudsman Pavel Medvedev. Then, the Kremlin supposedly decided that a pet stablecoin could “minimize the amount of anonymous transactions,” or even help evade Western sanctions, thereby greenlighting the project. However, the CryptoRuble ended up on the back burner in the end, as the current status of the project is unclear. It was last mentioned in the news in January 2019, when a government official declared that it could go live “in a 2-3 years,” although the Central Bank of Russia (CBR) was acting “very conservatively” about the idea.

Russian Gold-Backed Crypto Slams the Global US Dollar Standard (CCN), Rated: A

Russia has honed in on gold reserves as a way to fight the US Dollar hegemony already. Boosting such reserves allows them to diversify foreign exchange and reduce reliance on the US dollar. It has, of late, been part of Russia’s national policy.

The central bank reported in May that their gold holdings amounted to nearly $492 billion.

Russia is continuing to explore the possibility of a gold-backed cryptocurrency for use as a cross-border settlement alternative with other countries.

Russia’s central bank mulls launching its own digital currency (Business Standard), Rated: A

The Central of Russia’s Nabiullina on Sunday said that the was considering launching its own 

Blockchain to Solve Russia’s Supply Chain Woes (BlockPublisher), Rated: A

TradeLens is a blockchain-based platform that aids in international trade. It is built by the tech giant IBM and the shipping giant Maersk, in collaboration. The platform allows for a shared view of shipping transaction data thus helping the container logistic industry participants. The aim of this project is to streamline and make efficient the interaction between the shippers and the regulatory authorities in the country so that faster results and movements are observed.

Nordics

Iceland Approves Blockchain Integration of Monerium, New Age Currency (Tokenpost), Rated: AAA

This time, the nation’s Financial Supervisory Authority has given the green light on the electronic currency Monerium for blockchain-based transactions. This basically means that the company has opened the way for digital ledger technology to affect more of its commerce.

Canada

Vancouver Bitcoin ATM ban will ‘disproportionately affect’ sex workers (Yahoo! Finance), Rated: AAA

The first Bitcoin was installed in Vancouver during 2013. But now the Mayor of the Canadian city is proposing a ban on the machines, arguing that they open the door to money laundering.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

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Allen Taylor

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