Crypto Weekly, 28th May 2019 Market News

Recent reports are suggesting that the social networking giant plans to launch its cryptocurrency in the first quarter of 2020, and will begin testing it internally this year.

Circle’s management team speaks on recent regulatory developments in crypto
In this open letter to regulatory bodies in the United States, Circle’s management lays out a compelling case for clear and consistent regulation in crypto. Recent US regulations seek to reduce the power of decentralization, and disfavor crypto exchanges. Rather than clarifying the government’s stance on crypto, these new regulations now have the potential to hamper crypto innovation within the US.

Bitcoin spikes again as analysts declare the end of “crypto winter”
On Monday, the price of Bitcoin surged to $8,942, its highest value in more than a year. In total, the cryptocurrency’s value has increased by 140% this year alone, leading some to declare the crypto bull market is officially back. Renewed interest from large corporations like Facebook and JP Morgan is likely part of what’s driving the broader uplift in the markets, but the growth in retail investors has remained steady as well.

How much of your portfolio should be in crypto?
With the markets rebounding, crypto investing is more popular than ever – but how much of one’s portfolio should be in crypto is still a matter of debate. This piece explains how much investors should plan to invest in crypto based on their age and risk profile, based on numerous interviews with institutional figures in the crypto community.

Bitcoin Cash miners have undone an attackers transactions with a 51% attack
51% attacks are often used to steal crypto funds outright, but in a recent case, a group of Bitcoin Cash miners actually undid a series of transactions recorded on the blockchain using a 51% attack. The transactions were tied to the hard fork of Bitcoin Cash that occurred on May 15th, and the 51% attack was executed as a defensive mechanism to prevent hackers from accessing tokens that they shouldn’t have had access to after the fork was executed.

Peter Thiel-backed startup Block.One is paying out a 6,567% return to its investors
After raising more than $4B in funding just two years ago, Block.One is now returning invested capital back to its shareholders, with investors seeing a massive return on their initial outlay of funds. This values the company at more than $2.3B today, a marked increase from its $40M valuation during its seed round just two years ago.

Facebook plans to launch its “GlobalCoin” cryptocurrency in 2020
Recent reports are suggesting that the social networking giant plans to launch its cryptocurrency in the first quarter of 2020, and will begin testing it internally this year. The cryptocurrency will be primarily payments-focused, and Facebook hopes that it’ll be able to ink partnerships with the likes of Western Union and other online merchants to accept its token.

Bestmixer has been seized by police for “washing” more than $200M in crypto
The Netherlands-based platform was shut down by Europol this week, who allege that for the past year Bestmixer had been “mixing” illegally-acquired tokens (like Bitcoin, Litecoin, and others) to effectively wash them of any ties to criminal activities. The total funds impacted total more than $200M, and marks the first major crypto laundering case closed in Europe.

On the unbundling of Ethereum, and why it matters to crypto investors
Despite Ethereum being the world’s leading smart contracts platform, developers are increasingly building their Dapps on blockchains that are more scalable and offer better performance in the immediate-term. While Ethereum 1.0 was once the de facto home for ICOs, today that role is being taken on by platforms like Binance Chain, which are designed specifically for this use case.

COMMUNITY NEWS

  • We just added 26 new crypto companies and 55 new crypto investors to CryptoList. Link
  • Stock and crypto investing app Robinhood is raising $200M in fresh funding. Link
  • Binance completes Harmony lottery draw and will open trading for ONE.Link
  • JPMorgan adds new privacy features to its Ethereum-based Quorum blockchain. Link
  • New reports are pegging the release of Ethereum 2.0 at several years away still. Link
  • Yahoo Japan-backed crypto exchange TaoTao is launching this week. Link
  • 0x is teaming up with StarkWare to bring speed to decentralized exchanges. Link
  • Binance has just released a comprehensive research report on Zilliqa. Link
  • Ryan Kavanaugh’s media firm has secured $100M in funding for its crypto project. Link
  • Mobile carrier AT&T will now accept bill payments in crypto. Link
  • Bitcoin exchange Kraken raised $6M in funding in just two days last week. Link
  • Malta is pushing blockchain education with a brand new scholarship program. Link
UPCOMING EVENTS

Edited by KintuLabs. Reply to this email with any feedback and/or suggestions. 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 © 2019 CryptoWeekly. All rights reserved.

 


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