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LUNCH DELAY: Tron founder Justin Sun is under Chinese government control, meaning he is not facing formal charges at this time but is not allowed to leave the country, Beijing-based news outlet Caixin reported Tuesday. A local financial regulator has also recommended that police form a case against Sun. The news follows Monday night's announcement that Sun's hotly-anticipated July 25 steak lunch with billionaire investor Warren Buffett had been postponed. The Tron Foundation stated at the time that Sun was ill with kidney stones, and the parties had “agreed to reschedule at a later date.” The event was the prize for winning a charity auction, after Sun bid $4.6 million earlier this year. Early today, a Chinese news source suggested other more controversial issues may have caused the postponement. Full stories here and here
BAFIN SAYS YES: Blockchain startup Fundament has received the green light to issue the first tokenized real estate-backed bond that can be widely offered to individual investors. Announced Tuesday, the Berlin-based firm has obtained approval from Germany’s financial regulator, BaFIN, for the 250 million euro ($280 million) offering. By virtue of being regulated, the token will be open to any retail investor anywhere with no minimum investment restriction. In other words, someone in, say, Indonesia will be able to buy 100 euros-worth of ethereum tokens and thereby indirectly invest in German commercial property. Full story
CRYPTO SAVVY: Congress might actually get crypto. That was a key takeaway from last week’s contentious hearings on Facebook’s Libra project in Washington, D.C. For example, Sen. Brian Schatz asked Facebook’s David Marcus to explain why the firm had to build a cryptocurrency, and not just argue what the benefits of a cryptocurrency network could be in general. Omer Ozden, CEO of Rocktree Capital, said, “Whatever their thoughts on Facebook and Libra, they didn’t paint their thoughts of bitcoin and crypto with the same brush.” Full story
AUTO WALLET: Mercedes Benz parent company Daimler has partnered with blockchain firm Riddle & Code to produce a hardware wallet for automobiles. The wallet, a tamper-resistant piece of hardware that was presented at Startupautobahn in Stuttgart, creates a cryptographic identity for vehicles. It also integrates with the vehicle’s telematic control unit (TCU) to receive, sign, and attest to sensory data from the car and surrounding infrastructure. Full story
MINING WELCOME: Iran is officially recognizing cryptocurrency mining as an industry within its borders. A government economic commission approved crypto mining on Sunday, with the government now looking for ways to regulate this activity within its existing legal structure. Similarly, deputy minister energy for electricity and energy Homayun Haeri said government ministers will vote on a measure to approve an electricity rate for mining farms. Full story |
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GAINS LOST: Bitcoin continues to erase the recent low-volume bounce from $9,049 to $11,100 with prices currently trading below the long-term rising trendline support of $10,000. Daily chart indicators remain biased bearish, so a fall back to $9,049 cannot be ruled out. The case for a deeper slide would weaken if prices break above $11,100 on the back of high volumes, invalidating bearish lower highs pattern. Full story |
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| | IP KING: South Korea grants the most patents out of the IP5 regions (South Korea, Europe, the U.S., Japan and China), according to a report from IP-focused news site IAM. While Korea boasts 54 percent of applications granted, Japan (17%) and the U.S. (16%) in second and third place, respectively, are some way behind. Notably, China, which has by far the most applications filed, comes bottom, with just 2 percent granted. The report suggests that the notable gap could be because the top three regions have B1 kind codes, meaning that the patents were already granted when published. |
WHO WON #CRYPTOTWITTER |
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