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WAIT CONTINUES: The U.S. Securities and Exchange Commission delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday. The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin. Final decisions on two of the proposals are now scheduled for September and October. Full story
CLAMS CREDIT: Poloniex is now crediting trading fees to lenders who lost funds in a May flash-crash involving the obscure cryptocurrency called clams (CLAM). According to an official blog post, Circle’s Poloniex exchange will refund trading fees back through June 6, when the losses caused by the event were socialized. Clam was airdropped to holders of bitcoin, litecoin and dogecoin in 2014. Poloniex stopped margin trading on the coin after the crash, which knocked 77 percent off its price in just 45 minutes. Full story
IN GOOD HEALTH: Not all token sales led to quick failures or cash grabs. Some were part of a broader, albeit ambitious, business strategy. The blockchain startup Patientory, which makes a consumer health app and offers enterprise data management services to hospitals and clinics, just closed a $5.2 million Series A led by R/GA Ventures. This is the startup’s first funding round since it split off from the Patientory Association, a nonprofit created after a May 2017 initial coin offering (ICO) of ethereum-based PTOY tokens raised $7.2 million. Full story
SEC SETTLEMENT: A settlement between the SEC and a startup that raised funds in an initial coin offering has defendants paying out the big bucks. According to court filings, defendants Dominic Lacroix, Sabrina Paradis-Royer and PlexCorps agreed to pay fines and to never again participate in securities sales. Lacroix and Paradis-Royer agreed to pay $1 million apiece in civil penalties. PlexCorps must disgorge $4.56 million in addition to $350,000 in interest. Full story
DATA PLAY: The Bitfury Group may soon be known as a data miner, as well as a crypto mining firm. In an interview with Reuters on Tuesday, co-founder and CEO Valery Vavilov said Bitfury has launched an artificial intelligence (AI) division in order to break down the world’s vast amount of data and derive value from it. While giving away few details, he added that the data analyses would utilize blockchain. “We also need to trust that data so that’s where blockchain comes in,” Vavilov said. Full story |
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| LOST GROUND: Bitcoin has moved below $11,000, as called by the intraday charts. The overall outlook, however, would turn bearish only if prices close the current month below $9,049, validating an "inside bar" pattern seen on the monthly chart. On the higher side, a break above $13,200 is needed to revive the bull market. Full story |
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| | IOT IS KEY: While the ability to provide a " golden record " of data is one of the main benefits of blockchain tech, for many platforms that alone isn’t enough, according to a research article from Forrester published by ZDNet. “Any blockchain network that involves the tracking of an asset … needs more data than just the location of the items,” the piece says. And that’s where the internet of things (IoT) comes in, bringing the ability to collect data on aspects such as temperature, humidity, tampering and so on. Understanding the condition of the goods in a supply chain via a marriage with IoT would allow firms to reap the “full benefit” of blockchain, the report says. |
WHO WON #CRYPTOTWITTER
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