Cryptocurrency End of Day Recap
Jun 27, 2018
- Agents from Homeland Security Investigations (HSI) led a sting operation arresting over 40 alleged dark-web drug dealers who used Bitcoin to launder their money. The Department of Justice describes this as “the first nationwide undercover operation targeting dark net vendors.” The openness of the blockchain allowed even these agents to see the drug money transferred over it. More than $58,000 was spent by the HSI’s parent organization to conduct the blockchain analysis using Chainalysis tools.
- The Securities and Exchange Commission (SEC) has called for comments on a potential bitcoin (BTC)-based exchange-traded fund (ETF). The ETF was proposed by the VanEck SolidX Bitcoin Trust and if allowed by the SEC, would be listed by the CBOE. This specific trust will invest solely in Bitcoin, and the ETF will track its price.
- Dan Larimer, the Chief Technical Officer (CTO) of EOS recently proposed revamping the protocol’s constitution. Larimer proposed to do this following controversy around EOS’s governance structure, and aims to limit the so-called arbitrators’ powers. The EOS ecosystem is made up of Block Producers (BPs), arbitrators (EOS Core Arbitration Forum (ECAF)), and Token-Holders. Larimer hopes to limit the arbitrators’ role due to their lack of transparency and their actions concerning the mishaps occurring when EOS launched its mainnet earlier in June.
- Brian Armstrong, CEO and co-founder of Coinbase unveiled a “crypto charity” for individuals needing financial assistance. Armstrong announced the launch of a nonprofit to financially help individuals by donating cryptocurrencies and giving them access to financial services. The organization hopes to raise $10 million by the end of the year and “give away less than the amount that the fund grows” in the coming years to ensure the longevity of the fund.