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BCH DEPARTURE: Amaury Séchet, a leading developer of bitcoin cash, is renouncing his membership in one of the projects that paved the way for the controversial bitcoin cash cryptocurrency: Bitcoin Unlimited. While he’s sticking with bitcoin cash itself as lead developer of the code implementation BitcoinABC, Séchet wrote in a blog post that he was disappointed with Bitcoin Unlimited’s development process, partly because lingering bugs allowed an unknown developer to crash most Bitcoin Unlimited nodes. “The BUIP process has turned into a sad joke, with proposals more and more absurd being voted on,” he said. Full Story
OIL RETURN? The former CEO of Enron, Jeffrey Skilling, is reportedly looking to start a blockchain company just a month after being freed from jail for his role in the energy giant's massive accounting scandal back. According to a Wall Street Journal article citing sources "familiar with the matter," Skilling may be planning a digital platform relating to investment in the oil and gas industry. They added that he has recently met former Enron execs, as well as specialists in cryptocurrency, blockchain and software development regarding the project. Full Story
BANKER WARNING: Agustin Carstens, the head of the Bank for International Settlements (BIS), has again warned that caution is needed when considering central bank digital currencies. In a speech at the Central Bank of Ireland on Friday, said that central banks today “are not seeing the value” of issuing a central bank digital currency (CBDC), as such a move could bring fundamental changes to both financial stability and the monetary system. “Before we open up the patient for major surgery, we need to understand the full consequences of what we’re doing,” Carstens cautioned. Full Story
ETORO INVESTS: Social investing platform eToro has just announced the acquisition of Firmo – a smart contract startup that enables derivatives to be tokenized "on any major blockchain." While the purchase amount was not disclosed, eToro co-founder and CEO Yoni Assia said that the move is aimed to "accelerate the growth of our tokenized assets offering." Firmo will act as an innovation unit within eToro, tasked with bringing about the firm's goal of "tokenizing all assets on eToro," according to an announcement. Full Story
SBI vs BITMAIN? Japanese financial services giant SBI Holdings has established a new subsidiary to make cryptocurrency mining chips and systems. The new venture, SBI Mining Chip Co., will be developing and manufacturing the miners in partnership with an unnamed "large" semiconductor enterprise in the U.S. SBI Mining Chip will be led by former NASA veteran Adam Traidman, who has a "high level of expertise in the field of leading-edge semiconductors and other electronics," SBI said. Full Story |
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| LOOKING HEAVY: Bitcoin's restricted trading in the range of $3,920–$4,055 is dragging on and could ultimately see a breach to the downside. That's because last week's doji candle at the key 21-week moving average resistance is signaling bullish exhaustion. A break below the range – the more likely scenario, currently – could yield a sell-off toward support levels lined up at $3,775 and $3,658. Alternatively, a UTC close above $4,055 would put the bulls back into the driver's seat. Full Story |
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BEST OF THE BEST
PROOF OF WORK: Blockchain platforms can shift freelancers’ relationship with potential employers, writes Simona Pop in The Next Web. While existing mobile and other digital technologies have already resulted in a dramatic change to how freelancers and marketplaces interact – as seen with the advent of platforms like Fiverr – the potential for scams and unfair practices still exist. Pop believes using blockchain platforms to store work history, lower fees and track and distribute projects, among other uses , can “dramatically” improve the global freelance industry.
THE REST
$75,000 GONE: A Canadian crypto trader reported losing nearly $75,000 (in U.S. dollars) after using QuadrigaCX to sell his bitcoin, reports MarketWatch. Bill Tsao, who lives in Toronto, bought bitcoin in 2017, when the cryptocurrency's price hovered around $8,000, before selling on Jan. 28, 2019 – a few hours before the site went down, locking all user funds for the foreseeable future.
FUND ABSCONSION: The Financial Industry Regulatory Authority has banned a Colorado resident from working at a FINRA-regulated broker after alleging that he offered to sell investors discounted bitcoin and promising "significant returns" without providing either, according to CNBC. Investors sent Daniel Todd Levine $1.5 million, which he claims he sent to his brother – a fugitive from U.S. authorities living abroad – who apparently took the funds and ran. |
WHO WON #CRYPTOTWITTER  |
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