China ban redux

Crypto exchanges in China's crosshairs and nine bitcoin ETFs spurned

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Sponsored by   August 23, 2018 BIG BLOCKERS: Chinese regulators are planning to block access to more than 100 overseas crypto exchanges. Last September, the People's Bank of China banned initial coin offerings (ICOs) and later moved to shutter the country's "Big 3" crypto trading platforms. However, authorities have identified 124 trading sites with overseas IP addresses that are still available in the country. Full Story  ​ON FIRE: Crypto startups are "burning" their own coins to boost the value. After Binance destroyed 2.5 million BNB tokens in July, Switzerland-based Eidoo announced that it would remove 1 percent of its EDO tokens from circulation. That sounds like good news for investors, but experts warn that, without delivering an actual product after an ICO, burning coins may amount to little more than market manipulation. Full Story RED LIGHT: The SEC struck down a total of nine proposed bitcoin exchange-traded funds (ETFs) on Wednesday. The rejections -- many of which occurred before their final deadlines -- follow an earlier disapproval on a bitcoin ETF from investors Cameron and Tyler Winklevoss. Full Story On average, 144 bitcoin transaction blocks are mined per day. Each block represents a package of transactions set to be added to the blockchain. Miners use their haspower to compete for those blocks, all in the name of earning the reward of 12.5 bitcoins for each block mined. Over the past 24 hours, Slush Pool mined the most blocks (17 percent of all blocks) and SecretSuperstar mined the least at 1 percent. Although it’s important to note that 16 percent of blocks were mined by “Other,” which are miners that are unidentifiable or very small. These "other" miners have seen a decline in influence. Last year, they accounted for about 30 percent of blocks, and now make up about 14 percent of blocks. This could signal that the bitcoin mining sector is crowding out hobbyist and smaller players that can't contend with more sophisticated -- and resource-rich -- mining firms. For more research insights check out the CoinDesk Research section here. SPONSOR SECTION   Join us in Singapore on September 19-20 for two days of content focused on blockchain development in the APAC region. Beyond just Consensus, there are five other technology events that you can attend with your TechXLR8 ticket. Save 40% by using the code CONSENSUS40. ​Register Here   CAUTIOUS: Bitcoin is trading above $6,400 range on Thursday. Markets appear to be somewhat wary after news reports about bitcoin ETFs and new crackdowns out of China -- however, a minor rally today is in the cards. Full story  BEST OF THE BEST MOTHERBOARD: Another SIM swapper just got caught. Californian police have arrested 19-year-old Xzavyer Narvaez for hijacking SIM cards to steal cryptocurrency from his victims' accounts. Between March 12, and July 12, Narvaez allegedly brought in 157 bitcoin (around $1 million) -- which he allegedly spent on things like sports cars.  THE REST GOVERNMENT TECHNOLOGY: Berkeley, Calif., is going to raise funds to build affordable housing using blockchain. Mayor Jesse Arreguín and Vice Mayor Ben Bartlett came up with an idea to issue municipal “cryptobonds,” effectively paving a road to ICOs for various city projects. Unlike traditional municipal bonds that carry a minimum $5,000 denomination, blockchain-based bonds can be sold in denominations as low as $5 or $10.  QUARTZ: Last year's elections in Kenya were dogged by allegations of tampering, voter boycotts and violence. Authorities are eyeing blockchain as a possible solution, but skeptics say the technology can hardly help fight institutional dysfunction, a lack of leadership and voter apathy.  BLOOMBERG: Another member of Congress -- Hawaii Rep. Tulsi Gabbard -- has a hand in cryptocurrency investments. Gabbard invested between $1,001 and $15,000 in ether and litecoin in December 2017, joining House Judiciary Committee Chairman Bob Goodlatte as the second publicly-reported member of Congress to hold crypto.    We've launched our new podcast, Late Confirmation, which are the top stories in the blockchain world, delivered daily from the team at CoinDesk, sponsored by the Oxford Blockchain Programme.  Listen to Latest Episode and Subscribe   WHO WON #CRYPTOTWITTER   ConsenSys Jobs Blockchain Jobs Circle Jobs BitGo Jobs Copyright © 2018 CoinDesk. All rights reserved. Our mailing address is: 636 Avenue of the Americas New York, NY, 10011, US Want to change how you receive these emails? You can update your preferences or unsubscribe from this list