CRYPTO WEEKLY 25th May 2018 Market Updates

THE MARKETS

  • BTC: $7,534.89 | -$594.97 (-7.29%) since last week
  • ETH: $592.34 | -$90.68 (-13.28%) since last week
  • LTC: $122.19 | -$10.99 (-8.25%) since last week

The US has launched a criminal probe into Bitcoin price manipulation
The Department of Justice is launching a formal criminal investigation into the price manipulation of Bitcoin and other cryptocurrencies on the market – both as they relate to money laundering, and retail investors more generally.

The Marshall Islands replaces the US dollar with its own cryptocurrency
The tiny Pacific island nation signed a bill into law that makes a cryptocurrency its official legal tender (previously, transactions were conducted in USD). The new token, called the sovereign, will be issued via ICO with a hard cap of 24M tokens.

In a world payments first, Argentina has ditched SWIFT for Bitcoin
One of Argentina’s largest banks, Banco Masventas, is set to begin conducting international remittances in Bitcoin instead of using internationally accepted standards like SWIFT. The move is a big step forward for Bitcoin becoming a true payments platform.

The SEC has just issued a new statement on fraudulent ICOs
The SEC has announced that it’s redoubling its efforts to police fraudulent ICOs in the US, and has launched an awareness campaign (which includes a fully-functioning fake ICO site) to educate the public about the dangers of fraudulent ICOs.

The Ethereum blockchain size has exceeded a terabyte
The size of Ethereum’s blockchain is rapidly expanding, and is now over a terabyte. This is inhibiting the long-term scalability of the network, and at least one expert believes “transposing” the full blockchain may be a viable solution.

Following a tuna from Fiji to Brooklyn on the blockchain
A recent demo from blockchain startup Viant illustrated the potential of the technology for use in supply chain management, as the firm tracked a single tuna all the way from the South Pacific to New York using its blockchain platform.

The Verge hack, explained in full
In a new investigation, researchers have found that the high-profile hack of the privacy-focused coin has done primarily by using a “time-warp” exploit to spoof timestamps in the system, giving hackers a significant edge over other miners.

Switzerland using blockchain to streamline its business incorporation process
Contrary to popular belief, incorporating a company in Switzerland is a time-consuming process. But one startup, Proxeus, has shortened the time to incorporate from weeks to just over an hour using its blockchain-powered software platform.

Inside the complex presale dynamics of Ethereum
One crypto researcher has conducted a fair bit of analysis and has purportedly uncovered some evidence of collusion within Ethereum’s pre-sale. The author is not alleging anything happened but points out the importance of keeping token sales transparent from the start.

COMMUNITY NEWS

  • TruStory raises $3 million to identify ICO scams before they happen. Link
  • Bitcoin Gold hit by double spend attack, exchanges lose millions. Link
  • Join UnChain on May 31 in Hamburg, Germany. Link
  • ConsenSys is hiring a marketer in Brooklyn, New York. Link
  • Russia’s central bank is set to pilot its first official ICO. Link
  • Dharma Protocol v1 is Live on Mainnet. Link
  • Paradex is officially joining the Coinbase team. Link
  • BitGo building first qualified custodian built specifically for digital currencies. Link
  • Binance has listed Skycoin on its exchange. Link
  • Shanghai startup to use blockchain to verify wine origin and to fight counterfeits. Link
Thanks to Totle for sponsoring this newsletter edition.
Edited by Chris Osborne in Lisbon (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.

Copyright © 2018 CryptoWeekly. All rights reserved.

 


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