Cryptocurrencies are in red, Coinbase using electromagnetic signal block tents to protect digital currencies in cold storage
Aug 30, 2018
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- Binance made USD$200 million in profit for C1Q2018, as much as Nasdaq, according to analysis by Danhua Capital Managing Directio Dovey Wan. Just as a comparison, Binance was only 8 months old at that time vs. Nasdaq which is 47 years old with a ¼ of the staff.
- BTC.com, a mining pool backed by Bitmain that claims to have mined 21% of all bitcoin blocks in the last year, announced today they will begin to implement ethereum and ethereum classic into its mining operations. Bitmain project director Zhong Zhuang expanded on this, saying he hopes that Bitmain’s established mining operations will help to expand Ethereum’s network
- According to research by BitMEX, the Bitcoin mining giant Bitmain lost USD$328 million buying Bitcoin Cash. Since its pre-IPO investor deck was made public to investors, there has been growing concern about liquidity issues at the company.
- Coinbase, the San Francisco-based cryptocurrency exchange, is using electromagnetic signal block tents to protect cold storage wallets holding cryptocurrencies. According to Wired, who published the article, Coinbase has more than 20 million accounts and is protecting billions of dollars of Bitcoin, Ethereum and other Altcoins.
- DFINITY, the Swiss and US blockchain cloud computing startup, just closed a funding round of USD$105mm with backing from Polychain Capital and Andreesen Horowitz.
- Ethereum miners are gearing up a hard-fork in October, dubbed ‘Constantinople’. The hard-fork would require developers to implement system-wide software upgrades and force miners to follow a new set of rules that would effectively slow the crypto’s inflation rate. Complicating matters, if the hard-fork is not implement by early 2019, a ‘difficulty bomb’ built into Ethereum’s code would enact, making it near impossible to mine Ethereum rendering the crypto useless.
- ICO Advisory firm, Satis Group, published a detailed report today indicating a belief that Bitcoin’s price could jump to over USD$96,000 in the next five years. The report is broken down into a five-part analysis and attempts to predict different crypto prices based solely on the under-lying asset and excludes speculation.
- John McAfee believes Bitcoin will one day become the new “Gold Standard” and believes the price correction downward from USD$20,000 was unwarranted and the result of new investors misunderstanding the market. As a point of reference, McAfee points to the 40,000 millionaires in the world and asks what would happen if each of them only wanted to own of the 17mm available Bitcoin in supply.
- Mark Yusko, the Chief Investment Officer at Morgan Creek Capital Partners, believes crypto skeptics like Jordan Belfort are incorrect and is recommending retail investors and institution funds own cryptocurrencies in their portfolios. Morgan Creek has ~USD$1.5bn under management and recently launched the Digital Asset Index Fund in a partnership with Bitwise Asset Management
- MyCrypto, a new Ethereum wallet, just raised an additional USD$4mm from a consortium of investors including Polychain Capital. The capital will go to upgrading MyCrypto’s UI and other customer-related issues.
- Organization for Economic Co-operation and Development (OECD) has announced a Blockchain Policy Forum that will be held in Paris on September 4th through the 5th. The focus of the forum will be the use of blockchain technology in government activities and public initiatives.
- Project Enigma, an incubated product of MIT’s Media Lab, has received interest from eight blockchain companies in moving into the early-testing phase of their ‘secret contract’ technology. Secret contracts are a form of smart contracts that would allow users to perform blockchain transactions while remaining completely private.
- The governor of Jeju island in South Korea, Won Hee-ryong, has made an appeal to South Korean president Moon Jae-in for the island to receive ICO Hub Status. In his appeal, Governor Hee-ryong cites the creation of at least 1,600 jobs by attracting domestic and foreign companies alike.
- Alexander Vinnik, the former owner of cryptocurrency exchange BTC-e was indicted by French prosecutors yesterday while in Greece. French prosecutors attempted to subject Vinnik to “fake” interrogations while still in Greece and awaiting extradition to France.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio