1. Binance Coin (BNB), the digital asset that can be exchanged for transaction fees on the Binance Exchange, has increased in value more than 140 percent this year. More interesting, though, is that BNB has seemingly separated itself from bitcoin. Altcoins – for better or worse – typically rise and fall alongside bitcoin with some correlation. BNB has proven different. It is the only coin in the top 10 on CoinMarketCap (it now ranks 8th) to gain in value against the dollar and it is not even close. Tron's TRX token is the next closest performer with a 44 percent loss over the past year. –COINDESK
2. Michael Patryn, one of the co-founders of QuadrigaCX, reportedly traded more than $8 million of bitcoin as recently as last summer, according to a cryptocurrency research known as "I am Nomad." The report shows that Patryn traded the coins on BitMEX with the last trades coming in June. Patryn reportedly made profits trading off of bitcoin's known volatility. While it is possible that Patryn, who spent time in prison for his role in an identity theft ring, traded his own funds, it is more likely Patryn used the coins of QuadrigaCX customers to make a personal profit. –CCN
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3. The Lightning Network has seen its number of active channels increase from 8,000 to 32,000 in the past 30 days as its processing capacity has risen to 750 BTC (approximately $2.9 million). The growth has coincided with a lot of positive news surrounding the technology, including the launch of the Tippin.me service, the positive press around the Lightning Torch, and the ability to buy pizza (even if it is only Domino's). The BlueWallet mobile app has also helped adoption. The wallet features a built-in "Lapp Marketplace" that was accessed by more than 40 percent of its users last month. –AMB CRYPTO
4. The Samsung Galaxy S10's Blockchain Keystore app will not support bitcoin when it officially launches tomorrow. The app, which allows users to store keys for their crypto wallets, will have support for ethereum. There is belief that the app will add bitcoin support but it is a glaring omission at launch. As News BTC writes, though, that given the limited interest in cryptocurrencies by the general public, there is the chance that Samsung may not prioritize updating the app to include bitcoin. –NEWS BTC
Throwback Thursday
Ah memories. It was a year ago today that bitcoin traded above $10,000 per coin for the last time. Of course, at that time there was still hope that bitcoin could return to its record levels near $20,000, but now $10,000 per coin looks pretty good. Bitcoin's drop has been well documented. Are there any traders out there that held bitcoin at its peak? How long did you hold on, or are you still HODLing? Hit reply to this email and let me know. –David
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5. Litecoin continues to surge and has reclaimed its spot as the fifth largest cryptocurrency by market cap. –AMB CRYPTO
6. India has taken an outdated approach to coming bitcoin regulations, making its decisions on an antiquated view of cryptocurrency, writes Davit Babayan. –NEWS BTC
7. Colorado state senator Jack Tate and state representatives Jeni James Arndt and Marc Carlin introduced a bill that calls for the Colorado Water Institute to explore how blockchain can maximize operational efficiency. –COINDESK
8. Global blockchain spending will increase to $12.4 billion within three years, according to IDC, with the finance sector leading the lion's share of investment. –COMPUTER WORLD
9. The Canada Revenue Agency has audited a "significant number" of bitcoin users. –CHEPICAP
10. Niall Ferguson, a well-known economist historian, has gone from believing cryptocurrencies are worthless to "digital gold." –BITCOINIST
Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.
Editing team: Kim Lyons (managing editor at Inside, a Pittsburgh-based journalist with recent bylines in the NYTimes and Columbia Journalism Review.) and Susmita Baral (senior editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).
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