SEC delays ETF decisions / Crypto criminals rake in $4.3bn / Poloniex to reimburse customers

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Presented by Subscribe | View in browser Market Watch: Bitcoin continues to fall, dropping below $11,000 after nearly reaching $12,000 last week. Bitcoin Cash is the only one out of the top four to record positive gains in a 24-hour period. Bitcoin: $10,976 (⬇️ 3.61%) // $196.2 billion market cap. Ethereum: $206 (⬇️ 2.90%) // $22.1 billion market cap. XRP: $0.294 (⬇️ 1.93%) // $12.6 billion market cap. Bitcoin Cash: $338 (⬆️ 2.42%) // $6 billion market cap. Top 100 Winner: ABBC Coin: $0.175 (⬆️ 18.59%) // $97 million market cap. Top 100 Loser: VestChain: $0.008 (⬇️ 11.31%) // $58 million market cap. Prices are as of 12:10 EDT.       1. The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on three Bitcoin exchange-traded funds (ETFs). The ETFs in question are from investment management firms Bitwise Asset Management, VanEck/SolidX, and Wilshire Phoenix, all of which were proposed earlier this year. All three are attempting to become the first ETF based on Bitcoin. A decision is projected for Wilshire Phoenix on September 29, Bitwise on October 13, and October 18 for VanEck/SolidX. Market manipulation and a market divergence are a few of the concerns that the agency fears, which is why it hasn't made a decision. Bitwise is aiming to alleviate these fears, claiming that the Bitcoin market is much smaller, better surveilled, and regulated than expected. –COIN DESK       2. A new report has found that criminals have raked in $4.3 billion so far this year as a result of crypto theft, fraud, and other crimes. The study, by CipherTrace, shows that in the last few months, crypto criminals have taken around $160 million from several crypto funds. The $4.3 billion figure puts that of 2018 in the dark, which saw scammers taking away $1.1 billion. Crypto-jacking, SIM swapping, and Ponzi schemes are just a few crime examples that target the industry. –DECRYPT       A MESSAGE FROM MAILCHIMP Your marketing data is everywhere! Now what?     Connect all your data in one place and drive deeper relationships with customers. Mailchimp's all-in-one Marketing Platform puts customers at the heart of your marketing, so you can collect, organize, understand, and act on your insights.     Learn More     3. Cryptocurrency exchange Poloniex has announced that it will reimburse traders who lost funds during a flash crash in May involving the lesser-known Clams coin. According to a blog post, the platform will cover the lost funds by covering daily trading fees of those impacted back through June 6. On May 26, Poloniex's Clams margin trading underwent a flash crash, dropping 80 per cent in less than an hour. At the time, 1,800 Bitcoin were wiped out, amounting to around $13.5 million. This is the second step taken by the exchange to reimburse customers' funds. The first was on June 14 when around 10 per cent of the losses (180.73606744 BTC) were redistributed. –POLONIEX BLOG       4. South Korean-based blockchain payments system​​​​​​ Terra has revealed data that shows women are dominating the crypto shopping space in the country. According to Terra, three out of four users – around 74.04 per cent – are women in their late 30s and early 40s. The most frequently bought items include baby wipes, clothes, and coffee. Launched in 2018, Terra saw 11,000 users adding their bank account details to the platform on the first day, enabling them to pay with the technology. –ZDNET       A MESSAGE FROM FASTLY Extend the power of your core cloud to the edge with our API-first platform. Bring your innovative ideas to life, faster. Our edge cloud platform moves data and applications closer to users, at the network edge — so you can deliver fast, secure, and scalable online experiences. Take it for a spin and test up to $50 traffic, free.   5. Former Goldman Sachs analyst Murad Mahmudov has said in a tweet that he believes Bitcoin will hit $100,000 after a "steady accumulation." He doesn't indicate when this will happen, but his observation looks at the coin's key support, focusing on a 200-day moving average, an exponential moving average, relative strength indicators, and weekly support. –TWITTER       6. Three men from the U.K. have been arrested for their involvement in a Bitcoin-based dark web drug ring. The men aged from 36 and 39 earned more than $1.2 million after selling Class A drugs online. The three involved reportedly used Bitcoin as a way of avoiding detection from authorities. They were sentenced to between 14 months and 12 years behind bars. –BBC       7. Blockchain-based Colu Local Network is shutting its doors. However, in an announcement, it has said that it will repurchase tokens sold to investors during its initial coin offering (ICO). The company has said that it has a "sense of responsibility towards token holders." It will purchase them in Ether and will then burn them once the process is complete rendering them worthless. –COINTELEGRAPH       8. Blockchain firm Bitfury is turning its attention to artificial intelligence (AI) for big data mining. In an interview, Valery Vavilov, CEO and co-founder of the organization, said that they had launched an AI division to analyze data and extract value from it. According to Vavilov, "data is becoming the next oil." –REUTERS       9. France-based Ingredia is teaming up with technology startup Connecting Food to track milk production in real-time on the blockchain. Connecting Food's blockchain platform will enable Ingredia to track and trace all food products across the supply chain from animal feed to the producer. The information will then be made available to the end consumer. –FOOD NAVIGATOR       10. The U.K.'s Department for Work and Pension (DWP) is considering the blockchain and distributed ledger technologies to enable faster payments. In a blog post, the department noted that it is continually working on improving its services so that its 20 million customers "receive their payments on time." –DWP DIGITAL       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad Drive deeper customer connections with Mailchimp's marketing CRM. Learn more.  Meet Fastly. Built for speed, scale, and security across every device. Try us out free!

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It's raining CLAMs and DOGEs

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August 13, 2019 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 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 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 Copyright © 2019 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences or unsubscribe from this list