Daily News Digest Featured News

Monday July 1 2019, Weekly News Digest

cryptocurrencies on Twitter
Source: @CoinTrendz on Twitter

News Comments

United States


European Union

Southeast Asia


News Summary

United States

One of the biggest selling points of Facebook’s ambitious plans for its new cryptocurrency, Libra, was that the social media company had 27 partners, including prominent outfits like Visa, Mastercard and Uber, helping out on the project.

But some of those partners are approaching Libra warily. They signed nonbinding agreements to join the effort partly because they knew they weren’t obliged to use or promote the digital token and could easily back out if they didn’t like where it was going, said executives at seven of those companies, who spoke on the condition of anonymity because of the sensitivity of the negotiations.

Buried in Facebook’s Libra White Paper, a Digital Identity Bombshell (CoinDesk), Rated: A

Buried in Facebook’s Libra white paper are two short sentences hinting that the project’s ambitions go even further than bringing billions of people into the global financial system.

At the top of page nine, in a section describing the consortium that will govern the Libra coin, the white paper states:

“An additional goal of the association is to develop and promote an open identity standard. We believe that decentralized and portable digital identity is a prerequisite to financial inclusion and competition.”

Why Facebook could end up paying dearly for trying to create a new currency (Salon), Rated: AAA

As if controlling a social media monopoly were not enough, Facebook has decided to get into the digital currency business. It announced plans to introduce its new cryptocurrency, called “Libra,” by next year. In telegraphing its plans, Facebook has expressed the hope that it would create “the foundation for a new financial system not controlled by today’s power brokers on Wall Street or central banks,” write Mike Isaac and Nathaniel Popper of the New York Times. A lofty goal to be sure, although when unpacking the details of Facebook’s digital currency aspirations, they seem ill-conceived and, much like Icarus flying too close to the sun, will almost certainly hasten the company’s downfall, or finally motivate a swath of government agencies to properly regulate it, which of course may amount to the same thing.

Bitcoin Near $ 11,000 as Marked Corrects Downward (Coin Telegraph), Rated: AAA

Bitcoin (BTC)  is currently down 7.33% on the day, trading around $11,103at press time, according to Coin360. Looking at its weekly chart, the coin is up 3.72%

Source: Coin360

Bitcoin Is Once Again Trending Over Jesus (Forbes), Rated: A

Is the recent bitcoin rally an illusion or is it part of a larger price trend? It’s suddenly become a relevant question that is making its mark on Google Trends. Bitcoin is once again trending over Jesus when it comes to search interest worldwide and in the United States. This sudden spike in interest comes as the price of bitcoin rallies to some of levels seen in 2017 and 2018, right after bitcoin first passed Jesus in Google search interest for the first time.

Bitcoin and Jesus

This Fund Is Riding Bitcoin to Top (WSJ), Rated: A

In the second quarter, the price of bitcoin more than tripled, reaching a high of almost $14,000 before cooling down to around $12,000 in the last week of June, according to research site CoinDesk.

Blockchain Capital’s Spencer Bogart Explains This Week’s Wild Bitcoin Price Swings (Forbes), Rated: A

It’s no secret that the bitcoin price has had a rather volatile ride from 2009 when there really wasn’t a price and the project was just launching to today when a single bitcoin is trading for more than $11,000. This past week was particularly volatile for bitcoin, as the cryptocurrency traded between roughly $10,500 and $14,000. At one point on Wednesday, bitcoin lost 12% of its value in a matter of minutes.

On Friday, Blockchain Capital’s Spencer Bogart chatted about these wild price swings and Facebook’s new Libra cryptocurrency with Bloomberg Technology’s Emily Chang.

Is There a Big Short in Bitcoin? (WSJ), Rated: A

Hedge funds and other big traders are betting that bitcoin will fall, even as the digital currency has risen above $11,000 on a new wave of crypto-optimism.

That is the picture that emerges from bitcoin futures listed on CME Group Inc., the biggest U.S. exchange operator. Futures are contracts that let traders bet on whether an asset—in this case, bitcoin—will rise or fall.

2 People Cited In The Bitcoin White Paper Share Their Thoughts On Crypto’s Future (Forbes), Rated: AAA

Two individuals who were responsible for creating some of Bitcoin’s key building blocks were on stage together at the Bitcoin 2019 conference in San Francisco on Wednesday. Near the end of a discussion with Bitcoin YouTuber Naomi Brockwell, Blockstream CEO Adam Back, who was responsible for creating hashcash, and Yugen Partners Chief Scientist Scott Stornetta, who co-authored three other papers cited in the white paper (PDF), were asked to share their thoughts on the future direction of Bitcoin and the cryptocurrency space more generally.

5 Statements Confirming the Media Still Doesn’t Understand Bitcoin (The Merkle), Rated: A


Coinbase Pro: Complete Guide 2019 (Crypto-Economy), Rated: AAA

The number of cryptocurrency exchanges increases as interest in virtual currencies grows for a large part of the people. That is why knowing which are the best, the safest, or those that have fewer commissions becomes a difficult task. To facilitate this work, today we are going to talk about Coinbase Pro. In this review we will see the characteristics of the platform, the registration process and all the necessary information to know this cryptocurrency exchange.

The “Coinbase Effect” is back with a bang (Yahoo! Finance), Rated: A

The most recent beneficiary of the Effect? Chainlink, a low-capped (until now) and relatively unknown cryptocurrency, whose price surged after landing on Coinbase last week: LINK was worth just over $2 before its listing was announced. By yesterday it had doubled, peaking at  $4.40.

Litecoin Surged 400% The Month Before Last Halving, Will it Repeat This Time? (NewsBTC), Rated: AAA

Weekend trading has been pretty weak for most of the altcoins. Very few of them have made more than a couple of percent back from their double digit dumps on Friday. When the Bitcoin flash crash shaved $55 billion off crypto markets, Litecoin dumped back to $110. The correction resulted in a 24 percent slide from its recent high of $145.

Source: Yahoo! Finance

Litecoin Falls 10% In Selloff (Yahoo! Finance), Rated: A

Litecoin was trading at $121.671 by 18:50 (22:50 GMT) on the Investing.com Index on Sunday, down 10.01% on the day. It was the largest one-day percentage loss since June 27.

The move downwards pushed Litecoin’s market cap down to $7.654B, or 2.39% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $14.099B.

Litecoin Price Jumps 13 Percent as Breakout Bitcoin Slows Down (CCN), Rated: A

Litecoin price(LTC) was trading at $134.47 by 09:30 UTC on Sunday, up 13.03 percent on a 24-hour adjusted timeframe.

The move uphill pushed Litecoin’s market capitalization to approx $8.18 billion, or 2.36 percent of the net cryptocurrency market valuation. At its top, Litecoin’s market worth was $19.9 billion.

Litecoin Price

The Halving Pump Spikes Litecoin Price

The Litecoin price surge came at the time when bitcoin’s uptrend was hinting to catch a breath. The leading cryptocurrency, which established a fresh yearly high of $13,868 on Wednesday last week, was also the one to experience a deep plunge later. As of June 27, 20:00 UTC, the bitcoin-to-dollar exchange rate was trading at $10,300.


Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis (Yahoo! Finance), Rated: A

Bitcoin Cash ABC tumbled by 10.4% on Sunday. Reversing a 2.19% gain from Saturday, Bitcoin Cash ABC ended the week down 15.7% at $396.33. The sell-off left Bitcoin Cash ABC down by 10.5% for the month of June.

Ripple Unveils its XRP Based Mobile Banking Application (CryptoNewsZ), Rated: A

Ripple is still gaining the attention of crypto lovers. The XRPL lab of Ripple has designed an app for the mobile user that can do more than just sending cryptocurrency from one wallet to another.

Brave Web Browser to Release Native Reddit and Vimeo Tipping With Virtual Currencies (Bitcoin Exchange Guide), Rated: A

Brave decided to introduce a new feature that would allow users to tip other content creators on Reddit and Vimeo. Individuals will have the possibility to send these tips using Basic Attention Token (BAT).

Although these features are currently being tested in Brave’s Developer on desktop, they may be released to the market in the near future. This is according to what a company representative said on Reddit.

Goldman Sachs Explores Creating a Digital Coin Like JPMorgan’s (Bloomberg), Rated: A

Goldman Sachs Group Inc.’s chief executive officer toldFrance’s Les Echos newspaper that he’s “absolutely’’ looking at digital currencies and said Goldman is conducting “extensive research’’ on tokenization, the process for transforming currencies or assets into tradeable digital contracts that live on a blockchain.

Crypto Whales Move $ 444 Million Worth of Bitcoin (Bitcoin Exchange Guide), Rated: B

In the last 2 hour itself, whales have moved around 36,814 BTC worth $444.9 million.

The most notable movement of Bitcoin has been from a whale who transferred a whopping 9,000 BTC from the Poloniex exchange to an unknown wallet. The whale movement is being speculated to be triggered due to Bitcoin gaining its position above the $12,000 mark.

Top-10 Industries Being Transformed by Blockchain (Coin Telegraph), Rated: AAA

After struggling to receive recognition of legitimacy within the mainstream zeitgeist during its sophomoric years, distributed ledger technology (DLT) now comprises the driving force behind a new wave of technological creative destruction. Today, we are going to take a look at some of the industries and processes that are most dramatically undergoing a transformation in response to the advent of blockchain technology.

Seven Wild and Crazy Ideas from the Frontier of Retail Blockchain (Forbes), Rated: A

The Fabricant is a digital fashion house. And by that, I do not mean a fashion house that uses digital tools to design its products, though they can help fashion houses with some of those tools. I mean, it is a fashion house that designs fashion that is only available digitally.

IKEA has been pretty focused on sustainability for a while now, but they are taking it to a new level with a blockchain-driven way for consumers to generate solar power and trade it directly with other consumers.

You have to take something seriously when a VC like Andreessen Horowitz backs it with $61 million in capital, but Dfinity is yet another company example where it’s very difficult to work out exactly how blockchain changes the game, let alone brings anything basic to the equation.

Retail Blockchain Deep Dive: Marketing (Forbes), Rated: A

Marketing applications are the third most active area of blockchain use and investment. While supply chain applications are focused primarily on the B2B space, marketing has a mix of B2B solutions (like ad fraud) as well as solutions that are much more consumer-facing (like loyalty programs).

Overstock’s tZERO to Launch Crypto Wallet and Exchange App (SludgeFeed), Rated: B

tZERO (TZRO), a blockchain platform for capital markets and subsidiary of Overstock.com (OSTK), is reportedly planning to launch its own cryptocurrency wallet and exchange app.


Facebook’s Libra is spurring central banks’ interest in issuing cryptocurrency (Quartz), Rated: AAA

The Bank for International Settlements (BIS) in Basel, Switzerland is the bank for global central bankers. It’s the stodgiest of stodgy institutions, in other words, and it’s been slow-moving when it comes to cryptocurrency. Now it appears to be picking up the pace, however, spurred by Facebook’s announcement this month that it plans to issue a digital currency called Libra.

In March, BIS chief Agustín Carstens said that central banks were “not seeing the value” in creating a central bank digital currency. Now, Carstens is doing an about face.

Why policymakers worldwide should fear the launch of Libra (livemint), Rated: A

Facebook’s new global digital currency, Libra, which the company plans to launch as early as 2020, could transform the world. But no one—including the founders of this ambitious economic engineering project—can fully anticipate the currency’s possible ramifications. And monetary policymakers should be especially worried, because they may find it much harder to control unemployment and inflation in a Libra world.

In the first quarter of 2019, Facebook had 2.38 billion monthly active users.

Cryptocurrency Market Analysis: Top 5 Biggest Gains of June (Coin Idol), Rated: AAA

Bitcoin, along with altcoins, continues a rally which started back in April. Since then BTC gained more than 200%, adding around $8,000 over this period. The total capitalization of the market sits at $338,412 billion, with $209,742 billion involved in Bitcoin trading, according to coinmarketcap.

Source: Coin Idol

How A Crypto Lending Business That ‘Hates The Banks’ Avoids Exploiting Its Customers (CryptoBriefing), Rated: AAA

My own bank recently offered a magnanimous certificate of deposit paying 2%, provided I deposit $10,000 and leave it untouched. For a deposit of $25,000, they would give me all of 2.15%—which at least would keep ahead of inflation.

“They’re Stealing Your Money”

Mashinsky is the co-founder of the Celsius Network, a blockchain based lending platform that deals in over a dozen cryptocurrencies. Asked how he became involved in the business of finance, Mashinsky did not mince his words. “I hate the banks,” he said.

bank interest rates
Source: Crypto Briefing

14 short takes on top developments (Future of Finance), Rated: AAA

According to a nifty Blockdata report, 66 stablecoins are live and 134 projects have been announced but not launched. I wonder if we are going to need 200 versions of the US Dollar! The more interesting point is that over half of the assets are running on Ethereum software. There is a good reason for this — Ethereum has the best developer community still, and there are things you can actually do with digital assets on this chain. More on that later.

stablecoins on ethereum
Source: Blockdata
Source: Blockdata

Why Bitcoin (BTC) Hitting $ 100,000 is Possible According to a Binance Exec (NewsBTC), Rated: A

Due to Bitcoin’s hegemony, most have focused their sights on the leading cryptocurrency, because as some see it, where BTC tops is where altcoins will. And according to a Binance executive, Bitcoin still has lots of room to run, upwards of 750%.

In fact, he states that if you take previous cycles into account, of which there were at least three, Bitcoin could find itself in the $50,000 to $100,000 range — around four to eight times higher than the current price of $12,000, respectively.

Crypto Will Become Much Harder to Hack After Binance Shares Data (CCN), Rated:  A

Eight crypto exchanges have been hacked year-to-date with major exchanges in the likes of South Korea’s Bithumb reporting high-profile security breaches.

Binance partners with Paxos for new deposit gateway (Coin Rivet), Rated: B

Binance, the world’s largest cryptocurrency exchange by volume, and Paxos, the first regulated Trust company for digital assets, today announced a partnership to integrate a new deposit gateway on Binance.com. The portal will allow traders to exchange fiat directly for PAX on the Paxos platform and benefit from the stablecoin’s liquidity on the Binance exchange.

The Best Cryptocurrency Exchange for Novice Users (CoinCodex), Rated: A

With the number of these platforms on the rise, it can be difficult to find the best cryptocurrency exchange for you. The following are three examples of platforms which are great for new cryptocurrency users.

The Seven Most Reliable Cryptocurrency Exchanges (CoinGecko), Rated: A

Cryptocurrency exchanges represent a fundamental component in the wider community, allowing anyone access to cryptocurrencies round-the-clock. The 24/7 nature of the cryptocurrency market could perhaps be a unique proposition, given that even the likes of the stock market and the foreign exchange (forex) market are only open during standard working hours. There are three traditional ways for the public to access the vast amount of coins and tokens available:

Top 10 Mentions on Twitter in the last hour (CoinTrendz), Rated: A

cryptocurrencies on Twitter
Source: @CoinTrendz on Twitter

ETH, EOS, Tron on Steem dApps moving (Cryptopolitan), Rated: A

DApps on the EOS network possess more active customers than ETH, Steem, and Tron united. But the discussion on the authenticity of users still remains. According to a recent report, around seventy-five (75%) of all trades are prompted by bots instead of genuine people.

Source: @dapp_review on Twitter

Komodo Hacks Own Wallet Users Only To Protect Them Of A $ 13 Million Theft From Old Wallet (CryptoNewsZ), Rated: A

A big theft, which could result in a loss of $13 million, has been prevented by pro-active measures. Komodo, a crypto wallet start-up was informed about a potent theft by its internal security after an extensive audit on June 5, which showed that many customer accounts from the old crypto wallet were under threat.

Alectra Utilities And Interac Pilot Rewarding Renewable Use With Blockchain (Forbes), Rated: A

Alectra Utilities, the second largest municipally-owned energy utility in North America servicing several major municipalities in the Golden Horseshoe region of Ontario (of which Toronto is an anchor) such as Hamilton, Mississauga, and Brampton  and Interac, a Canadian interbank network that links together banks and financial organizations to be able to provide Canadians with financial services ranging from online e-transfers, to debit cards, have started working together to explore rewarding those people who use renewable energy in a grid-efficient way with monetizable rewards served through the Interac payment network. Alectra services about 1 million customers in Ontario, Canada.

Interac has been looking at different use cases where blockchain principles can help it innovate in terms of creating new business model.

Institutions keep investing in the blockchain group R3, will XRP benefit? (Tron Weekly), Rated: A

About five years ago, everything may have seemed unthinkable, but now crypto tokens are almost all over in R3. Things are moving really fast, and for R3, a start-up that develops blockchains for banks, everything is going beyond expectations. Before we move on, let’s not forget that the blockchain firm in question boasts some ambitious plans for XRP.

Monero and Zcash Conferences Showcase Their Differences (Yahoo! Finance), Rated: A

Over 200 people gathered in Croatia for Zcon1, organized by the nonprofit Zcash Foundation, while roughly 75 attendees gathered in Denver for the first Monero Konferenco. These two privacy coins are fundamentally different in a variety of ways – which was clearly on display at their respective events.

European Union

Ethereum transaction volumes at 17-month high; surpasses 1 million daily transactions (Yahoo! Finance), Rated: AAA

Ethereum transactions are at their highest in over a year, surpassing 1 million transactions per day on Friday according to Etherscan.io. Ethereum’s daily transaction volumes have been steadily increasing since the start of this year, although it is still shy of its peak of 1.3 million January 2018.

Source: Etherscan

Ethereum Price Analysis: Ethereum Surges 15% In June; Records 90-days High At $ 361 (CryptoNewsZ), Rated: AAA

In the last one month, ETH has recorded a surge of over 16% rising from $273.47 to its current value of $317.21 as on 30 June 2019, at 06:11:35 UTC. The coin started slowly at the beginning of the month and dropped to $227.48 around June 10, but the coin started rising steeply after that and reached as high as $361. The ETH price chart as given below:

Source: CryptoNewsZ

Ethereum Dips Below 299.02 Level, Down 2% (Yahoo! Finance), Rated: A

Ethereum fell bellow the $299.02 level on Sunday. Ethereum was trading at 299.02 by 09:52 (13:52 GMT) on the Investing.com Index, down 2.47% on the day. It was the largest one-day percentage loss since June 30.

The move downwards pushed Ethereum’s market cap down to $32.32B, or 9.74% of the total cryptocurrency market cap. At its highest, Ethereum’s market cap was $135.58B.

BitConnect Is Active Again (Bitcoin Exchange Guide), Rated: A

The cryptocurrency world is full of scams, and one of the most notable has been BitConnect. Though the platform was out of the spotlight for a brief time, it is now back with a new endeavor that they claim will offer dividends on all investments, thank to the use of a reward system that is founded in a smart contracts.

Europe Completes Its First Ever Blockchain Real Estate Sale for €6.5 Million (Forbes), Rated: A

Last week, the AnnA Villa in Paris made history by becoming the first ever European property to be sold entirely via blockchain transaction.

Progressive approach to DLT, AI and cryptocurrencies (Times of Malta), Rated: A

Malta’s progressive attitude towards DLTs (Distributed Ledger Technologies) and Artificial Intelligence has led to a world first legislation which governs those entities providing services to the crypto and digital asset space including crypto custodians and crypto exchanges. Through the Virtual Financial Assets Act (VFAA), the Malta Digital Innovation Authority Act (MDIAA) and the Innovative Technology Arrangements and Services Act (ITASA), Malta has laid down a robust platform for operators in this field.

United Kingdom

UK crypto scene set for boost as London firm poised for FCA approval (The Telegraph), Rated: AAA

UK cryptocurrency firm is expected to receive approval from the Financial Conduct Authority on Monday to become a large-scale asset manager, in a move that could accelerate London’s ambitions to become a global hub for the digital currency scene.

Prime Factor Capital, co-founded in 2017 by Nic Niedermowwe, a cryptography expert, and Michael Wong, an ex-fund manager at BlackRock, is poised to be the first cryptocurrency firm in the UK to receive full-scope authorisation from the financial regulator.


Blockchain Tech Used By ASX Companies To Expand Their Product Offering (Kalkine Media), Rated: AAA

Webjet Limited (ASX: WEB) is engaged in the digital travelling business. The firm provides its services in the global wholesale and consumer markets using wired routes. The innovation of it’s leading technological subsidiaries, including the Business to Consumer Travel (B2C Travel) and Business to Business Travel (B2B Travel) operating in the regions of Europe, Middle East, Africa, North America and Asia.

The firm has recently introduced two underpins – the Rezchain and Rezpayment solutions. Rezchain is a recent innovation which will use the platform of blockchain for its functioning.

Source: Webjet

Security Matters Limited (ASX: SMXis an Israeli B2B technology company listed on the Australian Securities Exchange (ASX) engaged in supply chain checks of goods using the blockchain technology. SMX’s highly secured and patented technology for marking the products as they move around the globe during the market process of production, packaging and manufacturing has streamlined asset tracking, the authenticity of the product and quality check. The marker is unique to every customer with a custom-made profile for their produce.

Southeast Asia

Bitcoin plunges below $ 11,000 following cryptocurrency’s epic surge in 2019 (livemint), Rated: AAA

The price of the largest cryptocurrency fell 11% since Friday and traded at $10,901.43 as of 8:15 a.m. in Tokyo. It’s still up about 200% since the start of the year. Other coins also dropped: Ethereum -4.2%, Ripple -5.1%.

AppAnnie.com looked at apps downloaded from the Apple App Store and Google Play, where it found more than 6,500 in the finance category with words such as cryptocurrency, blockchain or Bitcoin in their description as of June 26. In the first half of 2019, people downloaded 67 million crypto apps, compared with 65.8 million in the first six months of last year. The total number of apps is up 35% from January 2018, thanks to the debut of ones from the likes of the Gemini exchange.

Should Cryptocurrency Be Legalised In India? (CryptoNewsZ), Rated: A

Cryptocurrencies, though in existence for over a decade, still haven’t picked up in India. Despite a reasonably active community, government restrictions have prevented it from being the wonder which it could be. Authorities are against it, enthusiasts want it, but do we really need it? Is our country prepared for decentralized currencies?

Kakao Launches Klaytn Blockchain, Receives Support From Top Firms (Altcoin Buzz), Rated: A

According to the firm, stability has been confirmed by different security companies using high-intensity testing. The blind testing for developers and users also helped Ground X improve the Klaytn user experience. Ground X also announced that nine blockchain projects including HintChain, Antube, and Pibble, would be released simultaneously on Klaytn in July. In addition, some blockchain-powered game services, developed by three major game studios would join Klaytn.

Morpheus Labs integrates NEO into its blockchain service platform (CryptoNinjas), Rated: A

Morpheus Labs, the Blockchain Platform as a Service (BPaaS), has announced an alliance with the NEO blockchain, including full integration. NEO integration is an important milestone for Morpheus Labs, as it continues to expand the broad suite of dApp use cases that enterprises can select and develop upon a diverse set of blockchain platforms.

Source: CryptoNinjas

Iran seized nearly a thousand computers used to illegally mine Bitcoin (The Verge), Rated: AAA

After detecting an unusual spike in energy consumption, Iranian authorities seized nearly a thousand computers being used to mine cryptocurrency, according to the country’s state media.

Bitcoin News Summary – July 1, 2019 (99Bitcoin), Rated: A

A video surfaced this week of an Iranian Bitcoin mining operation running inside a mosque, buildings which receive free electricity in the country. It was reported that $260k worth of Bitcoin has been mined inside 100 different Iranian mosques. Meanwhile, the government is shutting off power to identified Bitcoin miners and seized about 1,000 ASIC miners from two abandoned factories.


Why Facebook entry into cryptocurrency is causing jitters (The New Times), Rated: AAA

That is largely why all central banks globally have cautioned their citizens against cyrptos and warned them to engage at their own risk.

The other reason being that that drug dealers, terrorists and other underworld operatives find cryptocurrencies a haven for funding their global operations with minimal visibility to authorities.

Facebook entrance into the crypto market dilutes this cautionary warning and potentially introduces the crypto world to Wanjiku, who happens to be just one of the 2.5 billion global citizens under the Facebook domain.


Blockchain blossoms in Haiti (VentureBeat), Rated: AAA

The technological revolutions that have shaped the modern world have thus far all taken root in rich countries. Today, a new disruptive technology is breaking that mold – blockchain. Nowhere is this plainer than Haiti, the poorest country in the Western hemisphere and home to a blossoming range of projects using blockchain technologies to solve problems in ordinary people’s lives.


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 *