Friday, June 22, 2018

Japan Crackdown / XRP on Coinbase / Hash Numbers / Stanford

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Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms:

$BTC (12:40 p.m. EST): $6,168.62 (-8.33%) // 90-day high: $11,849.50 // 90-day low: $6,168.62/ / More

$BCH (12:40 p.m. EST): $765.27 (-12.47%) // 90-day high: $1,786.80// 90-day low: $608.37 // More

$ETH (12:41 p.m. EST): $473.43 (-10.53%) // 90-day high: $831.65 // 90-day low: $365.43 // More

$LTC (12:41 p.m. EST): $85.13 (-12.02%) // 90-day high: $251.03 // 90-day low: $85.13 // More

$XRP (12:41 p.m. EST): $0.49 (-6.94%) // 90-day high: $1.20 // 90-day low: $0.47 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Japan’s Financial Services Agency ordered several cryptocurrency exchanges to improve their practices against money laundering. The order came at the request of bitFlyer, Japan’s largest crypto exchange, to suspend the creation of new accounts while it makes improvements to its security structures. "Our management and all employees are united in our understanding of how serious these issues are, as well as how serious we are in responding to them going forward," bitFlyer said. The price of bitcoin fell as much as 8 percent on some exchanges around the same time as the announcement. -CNBC

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2. Ripple CEO Brad Garlinghouse wants XRP to be listed on Coinbase. “As we solve problems at scale for institutions, I think it’s in Coinbase’s interest to participate in that,” Garlinghouse said. “[However], I can’t speak for what Coinbase decides to—or decides not to—do.” Ripple has developed partnerships with banks around the world, many of whom use the Ripple ledger to facilitate cross-border transactions. -BITCOINIST

Ripple CEO wants XRP on Coinbase
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3. The online bitcoin community has been discussing the numbers inside a block hash that randomly appeared Wednesday night. It is too complicated to explain here, but in short, the block hash has unusual numbers and letter combinations important to some in the blockchain community. These combinations have excited and confused parts of the community looking for a larger meaning in their appearance. -FUTURISM

Block hash numbers excite crypto community
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4. The Korean government will invest $9 million to support blockchain development in the country. The money will be used to carry out six pilot programs that use blockchain technology for the benefit of the public sector. The programs will focus on livestock supply chain management, customs clearance, online voting, real estate transactions, cross-border e-document distribution and shipping logistics. -COINDESK

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5. Stanford University has created the Center for Blockchain Research. The center, supported in part by the Ethereum Foundation, will examine how blockchain technology can transform traditional business interactions. Beyond blockchain research, the preliminary five-year research program will help develop courses on blockchain implementations, in particular its role in the financial sector and data management. –COIN TELEGRAPH

Stanford creates blockchain research center
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6. The price of ethereum classic continued its rise on Thursday. The coin increased 7 percent in one day as it reached $17.71 per coin on cryptocurrency exchange Binance. The coin has jumped in price in the recent week after Coinbase announced it would begin to offer support for ethereum classic later this year. -CCN

7. Blockchain has the ability to help improve social media, a Forbes columnist argues. Blockchain could especially help with the verification of information and news. -FORBES

8. Dave Fleming, the co-founder of Eircoin, has accused the Banking and Payments Federation of Ireland of discriminating against crypto-related accounts. Eircoin closed in April, in part, because Fleming believes Irish banks refused to interact with his platform. –COIN TELEGRAPH

9. Cloudsight has added Bitcoin Lightning payments. The startup will accept microtransactions to gather and share visual knowledge that will allow artificial intelligence platforms to learn from one another. –VENTURE BEAT

10. Chinese police have arrested a bitcoin miner for stealing electricity. China has sought to crack down on its mining industry in recent months, which had previously involved a large number of operators in areas which had an over-supply of power. –COIN TELEGRAPH

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From the Forums

Swiss leaders see blockchain taking over.

Have faith in bitcoin.

Sometimes it is best to keep your crypto holdings secret.

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CryptoWeekly #57

CRYPTO WEEKLY
June 22, 2018 | #57
THE MARKETS
  • BTC: $6,665.67 | -$1,248.90 (-15.81%) since last week
  • ETH: $516.89 | -$119.70 (-18.80%) since last week
  • LTC: $94.92 | -$32.68 (-25.69%) since last week
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GOOD READS

Financial pros are now sharing some tips with crypto's wild west traders
One of the financial industry's largest trade groups has just issued a new white paper outlining best practices for digital asset exchanges. The group's recommendations range from practical improvements that can immediately be made, to more aspirational goals for the crypto industry as a whole.

Meet the real estate investor who sold his cars and house to buy a crypto exchange
Singaporean real estate magnate Eric Cheng sold nearly all of his cars and his multimillion-dollar house to fund his purchase of FX Trade Financial (and its affiliate BitTrade), one of Japan's largest crypto exchanges. The purchase made Cheng the only foreign owner of a Japanese crypto exchange.

Here's why key crypto players are so receptive to funding from Ripple and Binance
Ripple and Binance are pouring funding into crypto startups and research initiatives, and many organizations are soliciting funding from them. These recent initiatives are a win for both parties, as they allow Ripple and Binance to grow their ecosystem while incubating other startups as well.

Coinbase's CEO on how focusing too much on crypto prices hinders innovation
In a recent email to his team, Coinbase CEO Brian Armstrong shared a series of insights on the price of crypto that are worth remembering for any crypto investor. Armstrong believes that focusing on the price of crypto is counterproductive and that it's better to focus purely on technological innovation. 

Hippocrates has rolled out one of the first self-sovereign data systems on Ethereum
Blockchain startup Hippocrates has just released what it bills as the first self-sovereign data system built on Ethereum. The platform, which has a significant use case in the healthcare sector, is designed for individuals looking to have full control over their personal data.

One of South Korea's largest crypto exchanges has been hacked for $32M
After being hacked once already earlier this year, Bithumb, one of South Korea's most influential exchanges, was hacked to the tune of $32M in stolen tokens. The exchange halted trading as of earlier this week, and is now working to recover its customers' missing funds.

Blockchain technology is continuing to transform the automotive industry
Auto companies are leveraging blockchain technology for increasingly innovative applications. IOTA and Volkswagen recently tested an implementation of Tangle in their autonomous car system, and other companies like BMW are using blockchain to better track their entire supply chain.

VCs are divided over how to begin launching their crypto funds
Most big VCs are in agreement that their firms need to begin opening up crypto funds, but they're a bit divided over how to do so. Some VCs (like Andreesen Horowitz) are launching their own crypto funds, while others are simply investing in other crypto funds.

Read about why the BIS's report on crypto doesn't accurately reflect reality
After the Bank for International Settlements released a condemnation of cryptocurrencies earlier this week, many in the crypto community dissected why the report wasn't an accurate depiction of reality. This piece does a great job of identifying the key weaknesses in the BIS's criticisms of crypto.

Switzerland aims to leverage blockchain throughout its entire economy
In a recent meeting for Switzerland's head financial regulators, one of the country's members of the head of state went on the record as saying that blockchain would eventually "penetrate its entire economy" and that more emphasis should be put on educating Switzerland's youth on crypto.
COMMUNITY NEWS
  • Blockchain startup Tron has acquired BitTorrent for $140M. Link
  • Use this tool to quickly see how much your crypto gains and losses are. Link
  • Ripple is petitioning Coinbase to add the XRP cryptocurrency to its exchange. Link
  • Goldman Sachs may be opening crypto trades up to more than just futures. Link
  • Check out Vitalik Buterin's latest presentation on Ethereum at Cornell. Link
  • BitPay is hiring a B2B Content Specialist in Alpharetta, Georgia. Link
  • Join the North America Blockchain Expo on November 28-29 in Santa Clara, CA. Link
  • Tether is claiming their crypto asset is fully backed - but there's one catch. Link
  • Learn more about the conspiracy that's tearing crypto communities apart. Link
  • The Winklevoss brothers win a patent to provide crypto-based exchange-traded products. Link
Thanks to Chainfuel for sponsoring this newsletter edition.
Edited by Chris Osborne in Budapest (in town? reach out to get a coffee). Check out CryptoList and TokenDemoDay if you haven't already. More info on sponsoring a future edition of CryptoWeekly can be found here. Reply to this email if you have any feedback and/or suggestions. Thanks for reading!

Nothing shared or published by CryptoWeekly constitutes an investment recommendation, nor should any data or content published by CryptoWeekly be relied upon for any investment activities. CryptoWeekly strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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