📌 Binance Hacked, Fidelity to Finally Launch, and Bitfinex Token Offering

MUST READS  Hackers Steal $40 Million Worth of Bitcoin From Binance Exchange Yesterday, hackers stole over 7,000 bitcoin (BTC) from the Binance exchange—worth over $40 million. The theft happened in Binance's "hot wallets," which account for about 2% of total exchange holdings. In response, Binance suspended deposits and withdrawals. This will last for approximately one week as Binance conducts a security review. In the meantime, it will still allow trading. If you hold your crypto funds in a Binance hot wallet and were affected by this hack, there's good news: Binance said it would cover any losses in full, using its Secure Asset Fund for Users (an insurance reserve set up for this type of situation).   Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks In last week's newsletter, we covered reports about E*Trade's entrance into cryptocurrency trading... Well, not to be one upped, Fidelity, which began a custody service to store Bitcoin earlier this year, will buy and sell Bitcoin for institutional customers within a few weeks, according to a person familiar with the matter. The main difference? Fidelity is only targeting institutional customers and not retail investors like E*Trade and Robinhood. But we wouldn't be surprised if retail trading launches soon.    SPONSORED   DEEP DIVE  Bitfinex Releases Official White Paper for $1 Billion Exchange Token Offering Bitfinex has released its official white paper for its $1 Billion Initial Exchange Offering (IEO). The crypto exchange is seeking that amount in Tether ($USDT) through a private sale with a public sale option if private funds fail to cover the targeted amount. Not exactly everyone is excited about this one though...   New Research: Institutional Investments Likely to Increase Over Next 5 Years Let the Fidelity hype train begin. In addition to the circulating trading desk reports, Fidelity Digital Assets released some fresh research suggesting institutional interest (Pensions, Endowments, Family Offices, etc.) is ramping up. Fidelity found that 70% of the institutional investors surveyed, believe that cryptoassets could be attractive as a new asset class. Most attractive to them are the non-correlation of cryptoassets with traditional asset classes and the new technologies that are enabling them.   The Story of Crypto Capital's Dark Past and its Deep Ties with the Crypto Industry Crypto Capital – a company that provided banking services for Bitfinex – quietly worked with organizations associated with financial crime, money laundering and securities fraud. Here's the entire inside scoop.    SPONSORED   REGULATORY FRONT  Cryptocurrency Firm OneCoin Sued Over Multibillion-Dollar Fraud Cryptocurrency issuer OneCoin, which allegedly ran a $4 billion pyramid scheme, has been sued by an investor who's seeking class-action status for the suit to include others who say they were scammed.    TWEET OF THE WEEK  Other Articles You May Enjoy Inside Zuckerberg's decade-long battle over crypto with the Winklevoss twins   Warren Buffett hating again: Bitcoin is a 'gambling device' with 'a lot of frauds connected with it'   Blockchain-driven ad campaign for PepsiCo increases efficiency by 28%   Belgian programmer solves cryptographic puzzle – 15 years too soon!   Bitmain discloses 88% reduction in own bitcoin mining power   30+ assets now supported on Coinbase Custody   Brave browser gaining impressive traction on Android, on par with Chrome   🎥 WATCH: Facebook digital coin could 'double or triple' crypto users   U.S. Court orders Craig Wright to provide bitcoin ownership records The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. The digest is curated by CoinSnacks employees and sent once a week. CoinSnacks | 5500 Military Trail Suite 22-250 | Jupiter, Florida | 33458 Unsubscribe | View in Browser

Binance Hacked / Bitfinex Confirms IEO / Binance AMA / Facebook Crypto Ban

Inside Bitcoin presented by Vettery.

Presented by Subscribe | View in browser $BTC (2:35 p.m. EST): $5,925.69 (-0.02%) // 90-day high: $5,988.18 // 90-day low: $3,391.02 / / More… $BCH ABC (2:35 p.m. EST): $283.47 (-1.38%) // 90-day high: $342.87// 90-day low: $115.18 // More… $ETH (2:35 p.m. EST): $168.77 (-2.46%) // 90-day high: $184.38 // 90-day low: $104.19 // More… $LTC (2:35 p.m. EST): $73.81 (-1.89%) // 90-day high: $97.50 // 90-day low: $33.01 // More… $XRP (2:35 p.m. EST): $0.30 (-0.22%) // 90-day high: $0.37 // 90-day low: $0.28 // More…       1. Hackers stole $40 million in bitcoin from the cryptocurrency exchange Binance. The hackers stole 7,047.2 bitcoin from an internet-connected hot wallet on the exchange, using sophisticated phishing techniques and deployed viruses to obtain API keys to access accounts. No customer accounts were affected and Binance stated that it will cover all of the losses using funds from its reserve accounts. Less than 2% of the exchange's crypto holdings were held in a hot wallet with the rest of the funds being in an offline cold wallet. -BUSINESS INSIDER       2. Embattled cryptocurrency exchange Bitfinex is planning a $1 billion Initial Exchange Offering. Bitfinex, which was recently accused by the New York Attorney General of misappropriating $850 million, is planning to sell $1 billion worth of its own utility token. Investors of the token will be able to use it for various exchange-based activities such as lower withdrawal and deposit fees. A portion of the money raised - as stated in this  whitepaper - will be used to cover the $850 million deficit that Bitfinex accrued. -COIN TELEGRAPH       A MESSAGE FROM VETTERY Hiring moves fast—stay ahead of the game with Vettery's 2019 Tech Salary Report As a tech leader, you're used to a day-to-day in flux. You're focused on the big picture—roadmapping, goals, and maintaining your vibrant company culture—time is money, as they say. So let us streamline things. Want the tools to help you achieve your goals and hire talent? Vettery has you covered. 3. From The Forums: The founder and CEO of Binance, CZ Zhao, hosted a live (AMA) after Binance was hacked for $40 million worth of bitcoin. Many questions that rolled in were users asking hastily if their funds were safe to which CZ assured that no user accounts were affected. Here are some highlights from CZ's AMA: CZ suggests that all users change their 2FA logins. No deposits or withdrawals will be accepted until they are satisfied the system is secured which could take up to a week. Margin trading is rolling out "very soon." Binance may list stablecoins in the future.  Binance Chain will eventually be open-source as well as Binance's DEX.       4. Facebook reopened blockchain advertising on its platform after completely banning cryptocurrency and blockchain related ads. In January 2018, Facebook implemented this ban to protect users from ICO scams. In June, the social giant relaxed its cryptocurrency ad ban and allowed some ads to be shown after the ads were reviewed by an internal team. With this complete reversal, Facebook will allow companies to advertise "blockchain technology, industry news, education or events related to cryptocurrency" without needing to go through a pre-approval process. These lightened restrictions come as Facebook nears the impending launch of its own cryptocurrency. -TECH CRUNCH       A MESSAGE FROM BRAVADO TRADING Is the Bitcoin bottom in? Download the FREE Analysis Navigating the crypto space is tough, but our team of traders and investors can do a lot of the heavy lifting for you when you join our community. Start by downloading our free Bitcoin bottom analysis, detailed with charts & other imagery and see exactly what we predict Bitcoin is going to do. 5. In an interview with Yahoo Finance, Paypal Cheif Financial Officer John Rainey, said that the peer-2-peer money transfer service is in no rush to dive into blockchain and cryptocurrency. -FX STREET 6. In a joint effort, the FBI and the Israeli police arrested two for running a bitcoin-enabled dark web listing website. -COIN TELEGRAPH 7. Bitcoin fees jumped 250% month-over-month from March to April as on-chain volume increased with miners collecting $14 million in fees alone. -DIAR 8. The SEC's Hub for Innovation and Financial Technology will host a cryptocurrency and blockchain forum at the end of May. -FORBES 9. Prince Charles said blockchain was a "very interesting development" after being asked by a reporter what he thought about bitcoin, cryptocurrency, and blockchain. -Z CRYPTO 10. Announcement: We're excited to introduce the latest Inside newsletter: Inside Cycling. Sign up here for news on competitions, gear, equipment and all the latest from the world of cycling.        Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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