📌 Binance Hacked, Fidelity to Finally Launch, and Bitfinex Token Offering

MUST READS  Hackers Steal $40 Million Worth of Bitcoin From Binance Exchange Yesterday, hackers stole over 7,000 bitcoin (BTC) from the Binance exchange—worth over $40 million. The theft happened in Binance's "hot wallets," which account for about 2% of total exchange holdings. In response, Binance suspended deposits and withdrawals. This will last for approximately one week as Binance conducts a security review. In the meantime, it will still allow trading. If you hold your crypto funds in a Binance hot wallet and were affected by this hack, there's good news: Binance said it would cover any losses in full, using its Secure Asset Fund for Users (an insurance reserve set up for this type of situation).   Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks In last week's newsletter, we covered reports about E*Trade's entrance into cryptocurrency trading... Well, not to be one upped, Fidelity, which began a custody service to store Bitcoin earlier this year, will buy and sell Bitcoin for institutional customers within a few weeks, according to a person familiar with the matter. The main difference? Fidelity is only targeting institutional customers and not retail investors like E*Trade and Robinhood. But we wouldn't be surprised if retail trading launches soon.    SPONSORED   DEEP DIVE  Bitfinex Releases Official White Paper for $1 Billion Exchange Token Offering Bitfinex has released its official white paper for its $1 Billion Initial Exchange Offering (IEO). The crypto exchange is seeking that amount in Tether ($USDT) through a private sale with a public sale option if private funds fail to cover the targeted amount. Not exactly everyone is excited about this one though...   New Research: Institutional Investments Likely to Increase Over Next 5 Years Let the Fidelity hype train begin. In addition to the circulating trading desk reports, Fidelity Digital Assets released some fresh research suggesting institutional interest (Pensions, Endowments, Family Offices, etc.) is ramping up. Fidelity found that 70% of the institutional investors surveyed, believe that cryptoassets could be attractive as a new asset class. Most attractive to them are the non-correlation of cryptoassets with traditional asset classes and the new technologies that are enabling them.   The Story of Crypto Capital's Dark Past and its Deep Ties with the Crypto Industry Crypto Capital – a company that provided banking services for Bitfinex – quietly worked with organizations associated with financial crime, money laundering and securities fraud. Here's the entire inside scoop.    SPONSORED   REGULATORY FRONT  Cryptocurrency Firm OneCoin Sued Over Multibillion-Dollar Fraud Cryptocurrency issuer OneCoin, which allegedly ran a $4 billion pyramid scheme, has been sued by an investor who's seeking class-action status for the suit to include others who say they were scammed.    TWEET OF THE WEEK  Other Articles You May Enjoy Inside Zuckerberg's decade-long battle over crypto with the Winklevoss twins   Warren Buffett hating again: Bitcoin is a 'gambling device' with 'a lot of frauds connected with it'   Blockchain-driven ad campaign for PepsiCo increases efficiency by 28%   Belgian programmer solves cryptographic puzzle – 15 years too soon!   Bitmain discloses 88% reduction in own bitcoin mining power   30+ assets now supported on Coinbase Custody   Brave browser gaining impressive traction on Android, on par with Chrome   🎥 WATCH: Facebook digital coin could 'double or triple' crypto users   U.S. Court orders Craig Wright to provide bitcoin ownership records The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. The digest is curated by CoinSnacks employees and sent once a week. CoinSnacks | 5500 Military Trail Suite 22-250 | Jupiter, Florida | 33458 Unsubscribe | View in Browser