Cryptocurrency Midday Report
May 21, 2018
- TradingView, a software website that many cryptocurrency traders use just raised USD$37mm in funding which was led by Insight Venture Partners. Currently the company receives 75% of its revenues from monthly subscription plans that offer more charts, data and real-time server-side alerts
- A “cryptosweep” was launched today in the US and Canada by a group of securities regulators. Nearly 70 inquiries and investigations, and 45 pending or completed enforcement actions will be taken, although it is unclear when the related enforcement actions will be publicly announced
- The team behind Parity Technologies have announced they are shutting down PICOPS, a service used by ICO campaigns to comply with regulations by validating that the owner of an Ethereum wallet has already passed an ID background check. The new GDPR EU dictate is meant to bring a new set of “digital rights” for EU citizens and guard their personal data. This regulation has already ended other services in the crypto space in Europe.
- The Australian Competition and Consumer Commission (ACCC) has shown in a report that crypto related fraud made up a tiny percent of scam activity in 2017. Of the 200,000 scams reporting, only 0.61% of the financial claims made were crypto related – USD$2.1mm