Cryptocurrency Morning Brief
Jun 28, 2018
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- Coinbase CEO has announced that the firm will be launching a charitable fund. The fund is called GiveCrypto and it will aim to raise USD$10mm this year. The fund plans to grow up to USD$1bn within the next two years. Coinbase CEO Brian Armstrong has said that he has been inspired by the Gates Foundation, Ripple, the Pineapple Fund and OMG’s donations.
- Japan’s social messaging app LINE plans to launch a cryptocurrency exchange offering trading for up to 30 cryptocurrencies. The exchange is planned to open next month. The company currently has 200mm monthly users and will offer a crypto-to-crypto trading platform. The platform will be excluding Japanese and US investors at inception due to regulatory issues.
- Coinbase will be adding GBP£ support to provide withdrawals and deposit capabilities or UK users. Before this addition, UK users have had to withdraw euros from Coinbase and use mobile banking solutions such as Revolut. Earlier this year, Coinbase partnered with UK bank, Barclays, which has helped facilitate this transition. Currently, 6% of Bitcoin transactions are made in the GBP£.
- The China Banking Regulatory Commission (CBRC) is advocating that domestic regulators should issue licenses for cryptocurrency activities. The CBRC write a paper titled "The Study of Development and Regulations on Distributed Ledger Accounts, Blockchain and Digital Currency". The paper claimed that "Currently, any capital transaction that relates to distributed ledger accounts, blockchain, cryptocurrency and its derivatives, ICOs and exchange operations should all be regarded as financial services. Therefore, they must be put under relevant financial regulatory frameworks so that they can operate legally with a license."
- Expedia.com has recently ended its acceptance of Bitcoin as a payment method for hotels and flights. As of now, the company did not explain why it has ended cryptocurrency transactions and the company has apologized for any inconveniences. This lead to reddit users complaining about the company. The users complained that they can’t understand why the company has ended acceptance of cryptocurrency after so many years of acceptance.
- A research study in the United Kingdom claims that 21% of the population aged between 21 and 35 would rather invest in Bitcoin instead of real estate. The study was conducted by UK-based build-to-rent developer – Get Living. The study, which polled 3,000 adults, found that 57% of millennials consider property investment over the next 5 years as risky. Over a third of homeowners found that the value of their homes dropped over the first year of ownership.
- Quantamize released a new Crypto QuantShot yesterday titled "Why did Tron (TRX) and EOS (EOS) leave Ethereum's (ETH) Protocol?"