Crypto Weekly, 19th June 2019 Market News

 

The rise of smaller rivals is throwing up a fresh challenge to Bitcoin. Even as Bitcoin has maintained its momentum, more than 2,000 altcoins are now posing the biggest challenge yet to its dominance

 

Facebook’s new cryptocurrency, Libra, has just officially launched
Today saw the official unveiling of Facebook’s much-hyped cryptocurrency, Libra. Backed by some of the biggest names in tech and finance, the open-source stablecoin will initially be targeted at emerging markets for international remittances and will be governed by the Libra Association – a network of key backers like Uber, Mastercard, and others. The social networking giant also announced Calibra, a crypto wallet with Facebook integration that will see its rollout early next year.Binance has announced a brand-new Bitcoin-pegged token on Binance Chain
In a Periscope announcement earlier today, Binance CEO Changpeng Zhao announced the crypto exchange’s next big project – a new token called BTCB that will be 100% backed by Bitcoin. Binance believes that this new token will give DEX users access to other tokens outside of Binance Chain, and even tokens that don’t yet have their own blockchain. This also gives token usage additional transparency, given that transaction activity can easily be viewed through the public blockchain explorer.

Here’s why Wyoming has become the newest haven for crypto companies
Over the past two years, the US state of Wyoming has rolled out more than a dozen blockchain-related laws that make it easier than ever to run a crypto business (or transact in crypto). The shift in regulatory openness is a reflection of the state’s values, and crypto companies have been flocking to set up shop in recent years.

Jack Dorsey on Bitcoin, Facebook’s crypto, and the end of cash
In Dorsey’s eyes, blockchain and cryptocurrency will be two of the most transformative trends in tech over the next several decades. In his eyes, Bitcoin has the best chance of becoming the world’s digital reserve currency, on account of its resiliency and consistent innovation over the past decade.

Ripple is taking a $50M stake in MoneyGram in a bid to accelerate adoption
In its biggest move yet for Ripple adoption, the crypto startup has invested $50M in MoneyGram, which will now be using Ripple’s XRP as the digital currency driving day-to-day operations at the company. Ripple will be taking a roughly 10% stake in MoneyGram itself, and will be investing $20M in cash over the next several years.

Primitive Ventures thinks China’s crypto ecosystem is more promising than ever – here’s why
Eric Meltzer is a founding partner at Primitive Ventures, a VC fund that’s focused on investing in promising blockchain projects in Asia, and in this piece he explains how China’s crypto scene has evolved from being mainly centered around crypto mining to being more focused on innovative, blockchain-driven platforms.

The rise of smaller rivals is throwing up a fresh challenge to Bitcoin
Even as Bitcoin has maintained its momentum, more than 2,000 altcoins are now posing the biggest challenge yet to its dominance. Many are high-volatility and few are being used for any mainstream use-cases yet, but at the same time, their promising vision is appealing to investors.

This is a great intro to Bitcoin futures, and how to trade them
Bitcoin futures are little-understood outside the institutional investing community, but they hold appeal for retail investors as well. The great thing is, it’s now easier than ever to trade Bitcoin futures, with dozens of exchanges supporting the investment instrument. This piece provides a great rundown of which exchanges are best for trading futures, and why.

Stonewalled by FINRA, up to 40 crypto securities wait in limbo for launch
Around 40 crypto startups have filed applications to handle customer assets, but FINRA has been slow to act, with many applications delayed by months. It seems that for now, there’s a moratorium of sorts on new approvals for crypto securities startups in the US as regulators await the latest rulings from the SEC on the matter.

COMMUNITY NEWS

  • A new bitcoin exchange on the Colombian-Venezuelan border will help refugees. Link
  • Ethereum 2.0’s launch date is confirmed for January 2020. Link
  • Google is integrating its crypto project with a new smart contracts tool. Link
  • Untold Stories is an excellent podcast on crypto with Bitcoin pioneer Charlie Shrem. Link
  • Bitbond plans to raise $3.9M in Germany’s first regulated STO. Link
  • Bitcoin has topped $9,000 as crypto’s rally trumps stocks, bonds, and gold. Link
  • New evidence points to Russian hackers of last year’s $530M theft of Coincheck. Link
  • Square has just hired an ex-Google Director as its first member of its new crypto team. Link
  • Apple may be preparing to turn your iPhone into a crypto wallet. Link
  • John McAfee’s crypto trading portal, Magic, has just launched. Link
  • Binance is planning to restrict US customers ahead of its regulatory-compliant exchange launch. Link
UPCOMING EVENTS

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