NBA player's alleged crypto scam / AML laws and crypto / Bank ties and Libra

Inside Bitcoin presented by Odoo.

Presented by Subscribe | View in browser Market Watch: Industry prices remain unmoved during Tuesday trading. Bitcoin seems to have hit a wall as it stays within the $8,200 range. Bitcoin: $8,246 (⬇️ 0.11%) // $148.4 billion market cap. Ethereum: $173 (⬇️ 1.45%) // $18.7 billion market cap. XRP: $0.295 (⬆️ 0.85%) // $12.7 billion market cap. Bitcoin Cash: $230 (⬇️ 0.54%) // $4.1 billion market cap. Top 100 Winner: Theta: $0.096 (⬆️ 12.89%) // $84 million market cap. Top 100 Loser: Nash Exchange: $1.10 (⬇️ 8.44%) // $39 million market cap. Prices are as of 1:20 p.m. EDT.       1. Former NBA player Issac Austin allegedly swindled $825,000 from a Ghanian company in a Bitcoin scam. Austin, who played for seven NBA teams over an 8-year career, is said to have posed as a trustee for his own Bitcoin trading company, IEA and Tudor Trust. Austin allegedly convinced victims to invest their Bitcoin with his company with promises of turning a large profit with the demand that he repay them on July 3. Austin reportedly owed these victims $825,000 in cryptocurrency, but failed to repay, offering excuses such as transferring the coins to the wrong wallet. –GHANA WEB       2. Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN) has said that anti-money laundering (AML) laws apply to crypto as well. In Blanco's opinion, fintech companies that offer crypto users anonymity must comply with anti-money laws "just like everyone else." He started that the key point of the AML policy was to determine who is involved in the transaction, adding that it's not hard to get the necessary information such as name, address, account number, transaction, recipient, and amount. –AMERICAN BANKER       A MESSAGE FROM ODOO New Conference: Odoo Connect 2019 [Business Software]   Business leaders, entrepreneurs, CEOs/Founders, IT professionals, and developers from around the world come together for 3 days of workshops, presentations, and business software demos to help businesses connect their teams and scale their growth. Inside subscribers are invited to get a free pass! Free Pass   3. Ralph Hamers, ING CEO, has said that banks may cut their ties with Facebook if it launches the proposed stablecoin, Libra. He said that banks have to protect the financial system against the threat of criminal activity. Because of concerns Libra could be used for illegal gains, Hamers said that banks could take action by choosing not to "accept the client." Hamer's remarks follow those of Jaime Dimon, JPMorgan Chase CEO, who said last week that Libra is "a neat idea that will never happen." –FINANCIAL TIMES       4. The U.K. government has stated that it's up to the Financial Conduct Authority (FCA) to decide whether there should be a ban on crypto derivatives for retail investors. John Glen, economic secretary to the Treasury, was responding to a series of questions regarding the U.K.'s stance toward crypto-assets and the FCA's ban consideration. Responding, Glen said that the final decision was in the hands of the financial regulator. –FINANCE FEEDS       5. Crypto-friendly banking app Revolut has announced that the growing partnership with Mastercard will see Revolut launch cards in the U.S. by the end of 2019. Since launching in 2015, the banking app has enjoyed a strong relationship with Mastercard across Europe. Today's announcement also means that Revolut will be able to reach markets in Asia Pacific and Latin America. –NEWSROOM MASTERCARD       6. New research shows that in the next 10 years, energy blockchain applications will see a 67 percent compound annual growth rate (CAGR). According to Navigant Research, by 2028, the industry is projected to raise $19 billion in revenue, creating an annual market size worth $7.7 billion at a CAGR of 66.9 percent. –COINTELEGRAPH       7. The Cyberspace Administration of China has approved 309 additional blockchain services. These include cultural tourism, education, law, supply chains, e-commerce, and healthcare. Companies such as China Southern Airlines are part of the list, which is creating its own blockchain-based platform. The State Administration of Foreign Exchange also makes up the list for its cross-border blockchain service. –8BTC       8. Crypto developer Jimmy Song has taken to Twitter to say that many "marketing experts" who enter the space end up working for scam projects. As a major Bitcoin advocate, Song stated that, unlike Bitcoin, altcoins rely a lot on marketing to get their projects off the ground. He didn't mention any names, but earlier this month he provided a list as to the coins that have fallen from grace. –BITCOINIST       9. Crypto brokerage Bitcoin Suisse has invested $3 million into trading software provider CoinRoutes. Bitcoin Suisse has said that it has acquired a "sizeable minority" stake in CoinRoutes, but didn't disclose the percentage. The main reason for the investment is due to the fact that CoinRoutes' algorithmic trading software sources crypto trading data from 40 exchanges. –THE BLOCK       10. Crypto exchange Bittrex is moving its platform from the "Blockchain Island" of Malta to Liechtenstein. The company said that it will be halting its operations in the European country October 29, but didn't give a reason why it was closing its doors. Upon leaving Malta, it will operate under Bittrex Global out of Liechtenstein. –MEDIUM       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 Want to attend Odoo Connect? Visit the event page to get a free ticket at odoo.com/inside

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[NEW RESEARCH] Crypto Derivatives

What to Expect in a Fast Changing Market

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COINDESK RESEARCH PRESENTS Crypto Derivatives The year 2019 has been a busy one for crypto derivatives. Some existing exchanges have posted record volumes. Over-the-counter (OTC) trading desks are innovating and nearly half a dozen startup exchanges are planning U.S. launches. VIEW REPORT In this paper, we'll look at problems derivatives can solve for crypto investors, including custody, investability and volatility. We'll look at how crypto asset derivatives, especially bitcoin derivatives, are different from derivatives in other asset categories. We'll provide an overview of derivatives products and venues available today, including those suitable for institutional investors, and those traded only by proprietary traders. To get this paper and others in our "Intro to Crypto Investment" series, sign up for Institutional Crypto, our weekly newsletter for professional investors, where you'll find facts and perspective on the issues that are setting the agenda for institutional participation in crypto assets. More On Derivatives at Invest: NYC  Join hundreds of your peers at Invest: NYC, November 12, at the Marriott Marquis New York. Get derivatives insights from crypto experts live from the main stage. Use code MY300 to save $300 on your registration. Session: ​​​​​​"The Real Wall of Money: Crypto's Coming Derivatives Boom" Description: Move over, spot markets—no asset can be considered mature until it has a lively derivatives market. Is bitcoin there yet? What do the new products that are emerging say about the market's maturity? What impact will a broader choice of derivative structures have on the market’s underlying volumes? What are the next steps to watch out for?  Speakers     Tim McCourt Global Head of Equity Index Products and Alternative Investments CME Group    Adam White  Chief Operating Officer  Bakkt    Nolan Bauerle  Director of Strategy  CoinDesk Use code MY300 and save $300 on your pass. REGISTER TODAY VENUE & TRAVEL We have partnered with the New York Marriott Marquis to offer our attendees a discounted nightly rate of $349. In order to qualify for this discounted rate, reservations must be received on or before Friday, October 25. Please click here to begin the reservation process or call the New York Marriott Marquis at 1-877-303-0104 and reference the CoinDesk Invest room block. Copyright © 2018 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

Warning: This $600 Billion Industry Could Soon Collapse

Editor's Note: We are always on the lookout for cutting-edge financial news to share with you. Below is research from our friends at Stansberry Research that we found particularly interesting. Dear Reader, When the early "dot com" stocks crashed and burned... Companies like Amazon, Google, and Facebook rose from the ashes and fulfilled the world-changing potential the Internet had promised. And they created massive fortunes in the process. Right now, the exact same thing is happening with 'crypto' technology.   The next evolution of this technology is what we call "ID Coin." ID Coin is a fortress of security compared to the flimsy passwords and vulnerable databases we have today. It's supported by major governments. And it has the potential to erase a $6 billion global problem that affects you and everyone you know. Best of all, you can buy a stake for relative pennies today. And you can do it in the standard investment accounts you already have, without going anywhere near a 'crypto' exchange. But I recommend you act fast. Because an announcement from the U.S. government could send ID Coin soaring, overnight. For now, you can get the full story, for free, right here. Regards, Ken Millstone Researcher, Stansberry Research CoinSnacks | 5500 Military Trail Suite 22-250 | Jupiter, Florida | 33458 Unsubscribe | View in Browser

Lightning liability

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October 21, 2019 BITCOIN BLASPHEMY: The 18 millionth bitcoin was mined last Friday. The next 3 million bitcoins will be progressively slower to mine as a result of block reward 'halvings' that occur roughly every four years. While the final bitcoin is expected to be mined in 2140, some developers foresee a day when the 21 million cap might come up for debate. Full story LIGHTNING ATTACK: The bitcoin lightning network may be vulnerable to a simple denial-of-service (DoS) attack, according to a recent research paper. Such an attack could slow or even stop a high percentage of payments on the network. Although the behavior hasn’t been seen in the wild, it is considered a major flaw in the network as it stands. “It is extremely easy to execute. It takes opening a few lightning channels to key points, promising zero fees, and then not relaying any payments,” one of the authors said. Full story NODE ON THE GO: Taiwanese electronics manufacturer HTC unveiled its latest blockchain phone, the Exodus 1s, capable of running a full bitcoin node. Announced Saturday at the Lightning Conference in Berlin, the new smartphone comes to the market at a price of €219 ($244), which is about a third of the cost of its predecessor, the Exodus 1. Full story CASH CLAIM:  Bitfinex has applied to a U.S. court to subpoena a former banking executive as it looks to recover $850 million in frozen funds. The exchange submitted a filing on Oct. 18 to a California court seeking to depose Rondell “Rhon” Clyde Monroe, a former vice president of TCA Bancorp. Bitfinex alleges that its former payment processor, Crypto Capital, which allegedly held the funds, “has used one or more accounts held at TCA Bancorp” and believes Monroe has information and documents vital to its claims. Full story SHIFT OF BALANCE: The Facebook-led Libra project may consider a change to how its planned global payments system will operate. Speaking at a banking seminar, Libra co-creator David Marcus said the firm is thinking of dropping its “synthetic” stablecoin – which is to be pegged to a basket of fiat currencies and government bonds – and instead issuing individual coins pegged to national fiat currencies such as the dollar, pound and euro. Full story REBOUND CHECK: Bitcoin has again bounced up strongly from support at $7,800, neutralizing the immediate bearish view. Prices could now rise toward $8,800 in the next few days, as one intraday chart is reporting a bearish channel breakout. The outlook would turn bullish only if prices find acceptance above the Oct. 11 high of $8,820, invalidating lower-highs setup. Full story QUEUE HACKERS: Three students from Malla Reddy Engineering College for Women designed a blockchain-based voting system as part of a 24-hour hackathon, reports The Hindu Business Line on Monday. The group, which took home first prize, has been asked to meet with the State Election Commission to trial the idea in “gated communities.” Shivani said the system may improve voting turnouts by allowing citizens to skip long queues by casting votes online.  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