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WALLET TIE-UP: Blockchain, one of the world's oldest and largest online bitcoin wallet providers, is moving into the hardware business. The startup announced Thursday that it is partnering with Ledger to build a new hardware wallet, called the Lockbox.
To protect users' holdings, the device will come with a number of built-in security features, including a special key that only allows it to connect with legitimate websites to avoid phishing attacks.
At launch, Lockbox will support bitcoin, ethereum and bitcoin cash. If there is sufficient user demand, Blockchain's developers say they could add support for other cryptocurrencies in the future. Pre-orders open today, with the company expecting to start shipping the wallets to customers next month. Full Story
INVESTOR QUESTIONS: Potential investors in crypto mining manufacturer Bitmain may be receiving false information about the company’s backers. A CoinDesk investigation into three pitch decks promoting the company found they list two backers who have not actually invested in Bitmain.
While it is uncertain whether Bitmain had a role in building these pitch decks, the documents clearly list Digital Sky Technologies Global and GIC Private Limited as investors in the firm. Both companies have denied backing Bitmain.
If Bitmain had a role in developing these pitch decks, the penalties in Hong Kong, where the company is based, could be severe. The penalties for making false statements include up to seven years in prison, HK$1 million in fines and damages to investor claims. Full Story
BURN BABY, BURN: Tether, the company behind the USDT stablecoin, announced Wednesday that it had burned, or destroyed, 500 million tokens kept in its treasury.
The move comes after crypto exchange Bitfinex transferred 680 million USDT to Tether’s treasury from Oct. 14–23. The transfers began after USDT’s price began to slip away from its dollar peg.
There are now roughly $2 billion in USDT remaining in circulation, with 466 million tokens remaining in the Tether address for potential future issuance. Full Story |
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 CoinDesk Research tracks many different metrics in the crypto economy. Exchange interest is important in determining the activity occurring on trading platforms. We observed total exchange volume sourced from coinmetrics.io for each cryptocurrency for Wednesday, October 24. A cryptocurrency exchange is a private business that allows customers to trade cryptocurrencies for other assets, such as fiat money or other digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid-ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees. BTC had the highest share at 53 percent followed by ETH at 18 percent and XRP at 6 percent. While these top three match their market cap rankings, EOS jumps up from its 5th place by market cap to 4th place by trading volume. Simarily LTC, ranked 7th by market cap, ranks 5th by volume. It's important to note that over-the-counter (OTC) markets might shield other trading information for privacy reasons. Thus, total reported trading volume isn't totally representative of all trading volume. For more research insights, check out the CoinDesk Research section here. |
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| RISK RESILIENCE? U.S. stocks fell sharply yesterday, but so far the risk aversion has not affected bitcoin’s price, which continues to be directionless around $6.4K. The resilience to the sell-off in stocks could be a sign that the cryptocurrency is prepping for a bullish move above $6,500, but in the next hours prices could go either way. Full Story |
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BEST OF THE BEST BREAKER: A number of cryptocurrency media organizations are willing to accept payment for sponsored content without labeling it as such, a Breaker magazine investigation found. Writer Corin Faife explained that his team created an email account for a fictitious public relations employee, who then asked different organizations if they would accept payment for coverage. Out of the 22 outlets which responded, 12 said they were willing to publish paid content without disclosing it was sponsored. Organizations charged between a few hundred and $4,000, depending on their audience size and prominence. THE REST Australian Financial Review The Reserve Bank of Australia doesn’t see the need for central banks to adopt blockchain in wholesale settlements or for a national crypto, according to a piece from the Australian Financial Review. At the ongoing Sibos conference, Michelle Bullock, assistant governor of the RBA, offered insight into the institution’s thinking about the technology and, for now, while open to blockchain, it’s “not convinced” it has a role to play. The current system is working well, she told the event, adding that bank runs could be worse if the RBA issued a blockchain-based digital currency. FORBES: Despite the bear market, universities are increasingly embracing blockchain technology and cryptocurrencies, according to a piece from Forbes. Now, even Ivy League colleges are not only conducting courses on the emerging technology, but are also investing their endowments in crypto funds. While historically major educational institutions have had a conservative approach to investments, that is rapidly changing. Recently, the endowment fund managers at Harvard, Stanford, Dartmouth College, MIT and North Carolina have recently made investments into at least one cryptocurrency fund, the article says. |
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