 QUOTE OF THE DAY  |
| "To be a better investor, you have to stand on your own. You can't copy other people's insights." - Li Lu |
Happy Monday! Monday is a fresh start to the week so hopefully we help you kick it off the right way. 5 minutes of crypto research a day with the Blockchain Brew over time can go a long way for crypto education.
Cheers,
Blockchain Brew Team
| COIN | PRICE | 24H |
|
| BTC | $6,785.93 | -6.59% |
|
| ETH | $531.08 | -6.85% |
|
| XRP | $0.580351 | -7.12% |
|
| BCH | $933.083 | -9.57% |
|
| EOS | $11.1023 | -16.16% |
|
*Information as of 9:30 AM EST
SEC Publishes Initial Coin Offering Guide
SEC vs ICOS
- After the ICO mania seen in 2017, the Securities and Exchange Commission has put in a tremendous effort to do its best to regulate initial coin offerings
- Already this year, the SEC has acted against fraudelent ICO's, sending out Cease and Desist orders and prosecuting fraudsters
- The SEC's goal is not to ban all ICOs or slow down innovation of blockchain technologies, rather simply to protect investors
ICO GUIDE
- On Sunday, the SEC published its guide to initial coin offerings to educate investors
- The guide provides information about the three “Rs” of ICOs: Risks, Rewards and Responsibilities
- The Commission also provides a section with ICO updates, its most recent news and announcment regarding the space
5 THINGS YOU NEED TO KNOW
In the guide, the SEC provides the 5 most important things investors need to know about ICOs:
- ICOs can be security offerings
- ICOs, based on specific facts, may be securities offerings, and fall under the SEC's jurisdiction of enforcing federal securities laws
- They need to be registered
- ICOs that are securities most likely need to be registered with the SEC or fall under an exemption to registration
- Tokens sold in ICOs can be called many things
- ICOs, or more specifically tokens, can be called a variety of names, but merely calling a token a "utility" token or structuring it to provide some utility does not prevent the token from being a security
- ICOs may pose substantial risks
- While some ICOs may be attempts at honest investment opportunities, many may be frauds, separating you from your hard-earned money with promises of guaranteed returns and future fortunes. They may also present substantial risks for loss or manipulation, including through hacking, with little recourse for victims after-the-fact.
- Ask questions before investing
- If you choose to invest in these products, please ask questions and demand clear answers
SEC Could Soon Approve a Cryptocurrency ETF
ETF
- ETF is an acronym for exchange-traded fund
- Exchange-traded funds are similar to an index fund in that they track a basket of assets and trade on an exchange just like a common stock
CRYPTO ETF SOON
- John Hyland, the global head of exchange-traded products for Bitwise Asset Management, recently told ETF.com that a cryptocurrency ETF could hit the market soon
- SEC regulation is the only thing stopping a crypto ETF from already existing, but moves are being made to satisfy SEC concerns
- The SEC's biggest concern is securely storing the coins in the ETF, the answer to this concern is to back the ETF with crypto futures rather than actual coins, futures give exposure to a coins price while not having to actually own the coin and futures are already regulated by authorities
- Four cryptocurrency ETFs have already existed in Europe since 2015, with a total value of roughly $600 million
IT STARTS WITH ONE
- Once the first cryptocurrency ETF is approved, many more similar products will come to market quickly
- In the future, there could be multiple ETFs offering investors exposure to many different baskets of cryptocurrencies
Number of Women Interested in Cryptocurrencies Doubles Since the Start of the Year
DOUBLE UP
- According to CityA.M., London Block Exchange has released a new study that suggests U.K. women interested in cryptocurrency investment has increased from 6% to 13% in just six months
- Not surprisingly, one in five females within the millennial generation want to invest in cryptocurrencies
Agnes de Roeyer, a senior business analyst at London Block Exchange, commented on the growing trend:
"There's still a common misconception that cryptocurrency is a game for men, but we've seen hundreds of women sign up for our exchange in the last few months and some of the most inspiring and knowledgeable investors, leading the way in the industry are female."
OTHER FINDS
- In addition to revealing that cryptocurrency investment is growing among women, the study also observed the differences in the way men and women invest
- One striking difference was the finding that women are about 50% less likely to be victims of FOMO (fear of missing out) and more likely to take a strategic approach
- Also, the research shows that women are more likely to be collaborative and are twice as likely to consult family and friends when making investment decisions whereas men prefer to "go alone"
Coinrail Exchange Hacked, $40 Million Possibly Stolen
CYBER INTRUSION
- Sunday, Coinrail disabled its systems to conduct maintenance due to a "cyber intrusion" that caused the exchange to possibly lose $40 million in cryptocurrencies
- So far, Coinrail has only released a few of the cryptocurrencies that were stolen including the NPXS token from the Pundi X project, ATX from Aston, and the NPER token from the NPER project
- Yet, a Medium post by the Pundi X team released findings that the hacker may have made off with 1,927 ETH, 2.6 billion NPXS, 93 million ATX, 831 million DENT, as well as significant amounts of up to 6 other altcoins
MORE DETAILS
- Upon announcement, the $40 million in cryptos quickly lost value as the news has caused the included tokens to take a price hit
- Coinrail believes to have linked an Ethereum address to the hacker and have since flagged the address as Fake_Phishing1432
- Upon investigation of this Ethereum address, one can see that the hacker has tried to sell about 26 million NPXS tokens through the decentralized exchange IDEX
DAMAGE CONTROL
- Following the breach, Coinrail has since moved 70% of reserves to a cold wallet that is not accessible through the internet
- As for the remaining 30%, they are currently frozen on the exchange as Coinrail is currently investigating with "police, investigators, relevant exchanges, and project developers"
Siacoin (SC)
OKEX will list SC/BTC, SC/ETH and SC/USDT pairs.
Augur (REP)
"This two-day conference delves into the innovative possibilities of blockchain and disruptive technologies."
Bitcoin (BTC)
Networking conference for investors.
Today in Crypto is powered by coinmarketcal.com
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