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GREEN LIGHT: The U.S. Securities and Exchange Commission has issued a no-action letter to Pocketful of Quarters (PoQ), a gaming startup looking to issue tokens on the ethereum blockchain. PoQ may legally sell its Quarters tokens to consumers without registering them as securities, the SEC Division of Corporation Finance wrote in its second no-action letter regarding a token sale (The first was granted in April to TurnKey Jet, a business-travel startup). Quarters are built according to ethereum’s ERC-20 standard – the first such token to receive U.S. regulatory approval. Full story
LIBRA ‘LIFTED’? MIT fellow Alex Lipton claims Facebook took the guts of its Libra project from a paper he co-authored last year. Several aspects of the social network’s much-ballyhooed global cryptocurrency project uncannily resemble the vision laid out in the paper published in the Royal Society’s “Open Science” publication. Coincidence? Not in Lipton’s view. The MIT Connection Science Fellow told CoinDesk: “Without being particularly obnoxious, I can tell you that the actual structure of Libra is pretty much lifted verbatim from the paper which Sandy Pentland and Thomas Hardjono and I published last year.” Full story
NOT SO SICK: Tron CEO Justin Sun couldn’t attend his ballyhooed lunch on Thursday with finance titan Warren Buffett because of kidney stones, he said. That didn’t stop him, however, from briefly mingling with influencers at a Tron-organized party on Thursday night in San Francisco. The appearance comes just a day after Sun penned an apology to the public, media and regulators for “over-marketing” the Buffett lunch. “In the future, due to my illness, I will take some rest,” he wrote in the Weibo post. “All efforts should return to blockchain tech development from marketing and hyping.” Full story
VISIBLE LIGHTNING: The lightning network, seen as the future of bitcoin payments, is now a bit easier to monitor. This Wednesday, Lightning Labs released a new network analysis tool dubbed “Lndmon” that bitcoin lightning network users can use to pull up data about the state of their node and the rest of the network. The offering features colorful graphs illustrating different aspects of the network, such as network fees or the “channels” a user has opened to send lightning payments. Full story
ABRA'S BIND: Crypto investment app Abra has been forced to make changes to the services it offers U.S. customers over “regulatory uncertainty and restrictions” in the country. In a blog update on Thursday, the firm said the adjustments comes “in an effort to continue to be compliant and cooperative with US regulations as they currently exist.” The changes will mean U.S. users won’t be able to use the firm’s “synthetic assets” after Aug. 29, meaning they will no longer be able to “hold” Qtum (QTUM), bitcoin gold (BTG), EOS, OmiseGo (OMG), and status (SNT). In New York state, the fiat funding options have also been reduced. Full story |
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WEAKER MARKET: Bitcoin is down again today, having faced rejection at a key trendline resistance on Thursday. The cryptocurrency’s bullish momentum has weakened to five-month lows, according to the Chaikin Money Flow Indicator. That, coupled with the bearish lower-highs setup, indicates BTC could drop to $9,000 in the next few days. The bearish case could weaken if prices rise above crucial resistance at $10,300, although that looks unlikely at time of writing. Full story |
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| | ELK APPROACHING: A tiny hardware board that can connect to a blockchain and control electronic components like motors, sensors and switches has launched on KickStarter. As reported by TechCrunch, the product, dubbed Elk, is aimed to allow devs to give IoT projects “native support for decentralized networks.” The firm said. The team aims to bring its prototype to market and start fulfilling orders in spring 2020. People pre-ordering as part of the crowdfunding campaign can bag their Elk for $59. |
WHO WON #CRYPTOTWITTER
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