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NEXT 5 YEARS: Zooko Wilcox, CEO of the Electric Coin Company – the company behind the privacy-focused cryptocurrency zcash – thinks that the network may take five more years to reach the level of success he and his team are hoping for. Since its launch in 2016, developers have not added many substantial changes outside privacy tools, he told CoinDesk. The next three or four years may focus more on scalability and programmability. Full Story
45 MILLION: The International Chamber of Commerce (ICC), the world’s largest business organization, is partnering with Singapore-based startup Perlin to make blockchain tools available to each of its 45 million members – which include teams from Amazon, Coca-Cola, FedEx, McDonalds and PayPal, among others. Perlin will offer free access to its blockchain platform, allowing these firms to develop tools to improve supply chain processes. Full Story
DOWN BIG: Crypto-focused venture fund Polychain has lost nearly $400 million since August 2018, and now only has $591.5 million in assets under management, according to its most recent Securities and Exchange Commission (SEC) filing, while back in August, the firm had $967.8 million. At present, Polychain manages five funds, and its latest filing acknowledges that “there is no assurance that digital assets will maintain their long-term value.” Full Story
SPEND BITCOIN: New York-based payments startup Flexa raised $14.1 million in a private token sale to build out its token-based payment processing platform. The company is developing an app to help retail users purchase everyday goods – like coffee – using bitcoin. It also has its own ERC-20 token which developers and businesses can use to stake value on Flexa's network. Full Story |
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SPONSOR SECTION  Binance, the world's leading cryptocurrency exchange is dedicated to providing a trading platform with the highest level of security, reliability and liquidity. Register for a Binance Account today and try our industry leading experience! |
| BRIEF FALL: Bitcoin's over-extended price action resulted in a 5 percent drop yesterday that extended another 3 percent lower early in today's trading session. That said, bitcoin's price has so far reacted bullishly to a prior consolidation zone of $4,900-$5,000, and has re-emerged above $5,070 as per CoinDesk data. The recovery is in the process of forming a long lower shadow below today's daily candlestick, indicating dip buying. If the candle closes as such, it's likely a temporary bottom will be set while its price continues to digest the recent gains before its next significant move. Full Story |
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BEST OF THE BEST
HISTORY REPEATS: The founder of dark web market Silk Road 2 has been sentenced to 5 years and 4 months in prison at a court in the U.K., according to Motherboard. Thomas White, who used the pseudonym Dread Pirate Roberts 2, pleaded guilty to drug trafficking, money laundering, and other charges not related to the marketplace. He was arrested as far back as November 2014, according to the piece, with investigators utilizing blockchain data from the bitcoin network to track White down.
THE REST
TELEGRAM TOKEN: Messaging app maker Telegram has quietly launched its own cryptocurrency for private testing, according to Russian news site Vedomosti. Access to the network is currently limited to several groups of developers from different parts of the world, including Russia, two of the teams involved told the news source. Telegram famously raised around $1.7 billion in a two-stage ICO aimed to develop the project back in early 2018, promising transaction speeds that would rival the credit card giants.
SEC OVERREACH? The Competitive Enterprise Institute, a libertarian think tank based in Washington, D.C., has released a report criticizing the SEC’s stance on cryptocurrencies, saying that the regulation of cryptos as securities “threatens innovation in financial transactions and other consumer products.” The reports posits that cryptos can only be regulated as consumer products under U.S. law and that the security classification could see the SEC have jurisdiction over physical goods sometimes used for investment, such as comic books or baseball cards.
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WHO WON #CRYPTOTWITTER  |
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