CRYPTO WEEKLY 2nd June 2018 – Market News

 

THE MARKETS

  • BTC: $7,630.18 | +$94.57 (+1.25%) since last week
  • ETH: $592.41 | -$7.84 (-1.31%) since last week
  • LTC: $123.02 | +$1.58 (+1.3%) since last week

EOS Mainnet is coming: here’s everything you need to know
The long-anticipated launch of EOS mainnet is nearly here, and there are a number of considerations crypto investors should be aware of. Several EOS networks will likely be launched, and EOS tokens on the Ethereum will be entirely frozen from June 1st onwards.

Block.one is set to raise $4B in what could end up being the largest token sale ever
The startup, better known for its EOS token, has launched its official ICO, which will run through the end of this year and could raise up to $4B if its funding goals are met. The firm plans to use the funding to accelerate development of its EOS platform, which is viewed by many as a viable competitor to Ethereum.

South Korea will officially be re-legalizing ICOs
South Korea was once one of the largest crypto markets in the world, but that changed last year when an ICO ban was enforced in the country. That’s all set to change, however, as the country’s regulators have announced that they are now taking a path towards re-legalizing ICOs and token sales in the country.

Stripe’s co-founders speak on why they don’t accept crypto in payments (yet)
In this wide-ranging interview with Bloomberg, brothers John and Patrick Collison discuss the founding story of the online payments juggernaut, and dive deep into their thoughts on crypto (including a detailed explanation of why Stripe doesn’t yet support crypto for online payments).

In the world of crypto, even good projects can go bad
Envion is but one example of the many crypto companies that are raising funds directly from investors, sometimes with disastrous consequences. There are an increasing number of ICOs that successfully launch and raise significant funding and then fail to deliver on their promises, leading to a growing population of disillusioned investors.

Thoughts on analyzing Bitcoin’s past, while projecting its future
This piece does an excellent job of dissecting the competing schools of thought around Bitcoin and other cryptocurrencies. Some experts believe Bitcoin will become a true currency that other fiat currencies will be pegged to, while others think that it will never be a stable store of value, and that other coins will soon take its place.

Here’s how crypto versions of fiat currencies may end up changing the way we live
Some researchers are starting to believe that fiat-pegged stablecoins may be the future of fiat currency as we know it today. These coins could be used just like Fiat, but with the added advantage of being tracked on the blockchain and secured by smart contracts.

With pockets full of crypto, masses of traders are quitting Wall Street
A recent trend in traditional banking is the departure of many traders from top-tier banks, driven by record personal earnings gained from trading crypto. Some former traders are setting up their own crypto investment firms, while others are leaving to join top-tier crypto startups like Coinbase and others.

Free electricity is fueling a crypto-mining boom in Venezuela
Many Venezuelans are finding a way to survive through their country’s crippling economic depression by investing in (and mining) cryptocurrencies, spurred on by nearly free electricity that’s a product of generous government subsidies and extreme hyperinflation.

Headphone maker Monster is reportedly planning a $300M ICO
Monster is the latest ailing firm to use an ICO for revitalizing its business. Through the ICO, the electronics manufacturer hopes to create a “Monster Money Network” that will allow the company to sell its products (and those of other firms) directly to consumers online through crypto.

COMMUNITY NEWS

  • After 6 years of development, Rippled 1.0 is finally out. Link
  • Devere has added Bitcoin Cash and EOS to its exchange. Link
  • China is starting to warm up to Bitcoin again. Link
  • Asus’s new crypto mining motherboard supports up to 20 GPUs. Link
  • Bitwage launches crypto payroll service and has raised $50M to date. Link
  • Binance plans a $1 billion investment fund. Link
  • Hackers are stealing from EOS’s $4B ICO using this sneaky scam. Link
  • Work for a crypto company and need exposure? Link
  • 331 Japanese crypto investors made at least $1M in profit last year. Link
  • Monaco hires former Square Chief Compliance Officer Stanley Lam. Link
  • Join the Blockchain and Bitcoin Conference in Paris on July 18. Link
  • BitTrade has just been acquired by a private investor for $50M. Link
  • Blockchain-powered trust Paxos has just raised $65M. Link
  • Bitcoin company Blockchain hits 25 million crypto wallets. Link
  • Binance is hiring a remote Blockchain Developer. Link
  • Ethereum wallet imToken raises $10M Series A. Link
Thanks to QUOINE for sponsoring this newsletter edition.
Edited by Chris Osborne in Barcelona (in town? reach out to get a coffee). Check out CryptoList 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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