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HYPE REGRET: Tron founder Justin Sun has issued a public apology for overhyping a cryptocurrency industry event. Sun published a letter on Weibo in Chinese on Thursday, saying he “sincerely apologizes to the public, media, officials and regulatory authorities” for “over-marketing,” especially of his highly-anticipated charity lunch with billionaire investor Warren Buffett. “During the whole process, I went from being excited, to worried, agonized and then terrified and regretful. … It led to a negative influence on the public and also drew concerns from regulators who care about me. Again I want to say: I am sorry,” he said. Full story
POOR PROSPECTS? U.S. Treasury Secretary Steven Mnuchin has commented on bitcoin’s future viability, suggesting the future is bleak for the cryptocurrency. “I can assure you I will personally not be loaded up on bitcoin in 10 years,” Mnuchin said on CNBC’s Squawk Box. “I would bet even in five to six years I won’t even be talking about bitcoin as Treasury Secretary.” Regarding potential crypto regulation, he added, “We’re going to make sure we have a unified approach and my guess is that there are going to be more regulations that come out from all these agencies.” Full story
RIPPLE REPORT: Ripple’s second-quarter report released Wednesday came with a few surprises: a gain, a loss and a new partner. The distributed ledger technology firm’s total sales of XRP increased by nearly 48 percent to $251 million in the quarter, outpacing the first quarter’s $169 million in sales. Ripple’s global trading volumes dropped 28 percent quarter over quarter, from $595 million to $429.5 million, though that’s largely the result of changing its benchmark for trading volumes in June. The firm announced it has worked with data and indices firm CryptoCompare to weed out previously inflated statistics. Full story
LIGHTNING SUPER PAC: This could be the first time the Lightning Network, a bitcoin scaling solution, officially impacts the U.S. presidential election. Roughly a dozen bitcoiners who support Democratic presidential candidate Andrew Yang launched a crypto-friendly super PAC on Thursday, the Humanity Forward Fund, which will be able to accept payments from lightning wallets. Humanity Forward will only accept bitcoin donations for the first 21 days, according to founder Seth Cohen. After that, fiat donations will also be accepted. He said the group hasn’t decided whether the PAC will hold donated bitcoin or immediately convert to fiat. Full story
TRUST ISSUE: Compared with bitcoin, people in the U.S. don’t trust Facebook’s anticipated new stablecoin Libra, according to a new survey. In the poll of 1,799 U.S. adults carried out since Facebook’s white paper launch in mid-June, consumer insights provider CivicScience found that just 2 percent felt they would trust Libra and its Calibra wallet more than bitcoin. By comparison, a hefty 40 percent said they’d trust the public cryptocurrency more, while 19 percent said they’d trust both options about the same. Less than 10 percent had actually bought cryptocurrencies, CivicScience pointed out. Full story |
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SHORT BOUNCE? Bitcoin has again charted a quick recovery back to over $10,000, however, the bearish lower-highs pattern is still intact with prices holding well below $11,120. The recovery seen in the last 24 hours lacked volume support and is now struggling to cut through a number of key technical lines located around $10,200. All-in-all, BTC risks falling back to $9,600 over the next day or two. Full story |
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| | CRIME CHAIN: The Ndrangheta mafia family is decentralizing to survive and now appears like a “criminal blockchain,” Italian investigators claim. A report from Canada’s National Post cites an analogy used in Italian court documents that describe the new power-structure as a 'blockchain.' Apparently, after the death of the group’s leader, some Ndrangheta moved to Canada. And while traditionally, they would have taken orders from “mother clans” in Calabria, Italy, the distributed branch is itself giving orders to back home. “The governing body of the Siderno branch no longer operates only in Calabria, transmitting orders abroad, but also does so directly on Canadian soil, to give it a more effective and efficient command structure,” said the court documents. |
WHO WON #CRYPTOTWITTER
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