Crypto Weekly, 30th June 2019 Market News

$27 million Crypto Theft Affects 4000 people in 12 Countries Six suspects have been arrested by Europol in the UK and the Netherlands, having thought to be involved in the scam

Bitcoin Reaches 15-month High This Week, Breaking Through $13k
Bitcoin’s value stretched across the $13k barrier in the early hours of Wednesday morning – tripling since its December low of $3,200. Having peaked in December 2017 at $19,500, Bitcoin has bounced up and down. The drivers of Bitcoin’s fluctuations aren’t exactly clear, however Facebook’s announcement this week of their new coin – Libra – can be seen as a direct contribution to this spike.At-home Mining Device, Coinmine, Nows Pays Out in BTC
Coinmine is a cryptocurrency mining device marketed toward the hobbyist miner. The company has just announced that users will now be able to receive payment in Bitcoin. Founder, Farbood Nivi, explains that their development team engineered the operating system to mine the cryptocurrency that has the highest exchange rate with Bitcoin, and convert this back – providing higher returns than simply mining Bitcoin directly.

Iranian Government Announces Plans to Cut Power to Crypto Miners Until Power Price Negotiations Are Settled
Having seen a 7% increase in national electricity consumption, the Iranian government are cutting off power to crypto mining – the suspected cause of the spike. A representative at Iran’s Minister of Industry, Mostafa Rajabi Mashhadi, called for new electricity pricing for crypto mining that is closer aligned to that of other power exports – instead of benefiting from government-subsidized electricity. This is hoped to remedy the electricity issues occuring due to the spike.

Ex-Trump Economic Advisor Announces Plans to Create a Centralized Crypto Bank
Having recently withdrawn his bid as a board member for the Federal Reserve, former Trump advisor Stephen Moore has announced his own crypto project. Merging with tech entrepreneurs, Moore claims he is creating a central bank for cryptocurrencies aimed at centralizing, regulating, and stabilizing the market. Critics and crypto experts have doubts about its feasibility following the unpopular responses so far.

Bitcoin Surge Causes Bitmain to Revive its IPO
Following Bitcoin’s price surge, Bitmain – top China-based bitcoin mining chip manufacturer – has announced the relaunch of its IPO. Riding on the coattails of Bitcoin’s breakthrough, Bitmain is reportedly considering opening the sale in Q3 or Q4 2019 – aiming to raise $300-500 million through their US share offering.

Lightning Mobile App Rolled Out by Lightning Labs for On-the-Go Bitcoin Micropayments
The Lightning App for iOS and Android has been launched by Lightning Network this week. Releasing their alpha version of the app on the Bitcoin main net, Lightning Labs are taking the revolutionary leap toward integrating Lightning Network Payments to mobile. This announcement brings the sum total of Lightening operating systems to five.

$27 million Crypto Theft Affects 4000 people in 12 Countries
Six suspects have been arrested by Europol in the UK and the Netherlands, having thought to be involved in the scam. The suspects are accused of ‘typosquatting’ – a phenomenon where scammers pose as a popular website using a slight typo in the URL. Victims were tricked into believing they were accessing a prominent exchange, while thieves stole their wallet funds.

Visa B2B Connect Has Launched, Enabling Global Cross-Border Transactions for Business Clients
Visa B2B Connect – Visa’s new global blockchain digital identity systems for business clients – launched this week. The platform enables financial entities to processes large international transactions worldwide in remarkable speed, with higher security. Tokenizing the sensitive business information, Visa B2B Connect will facilitate the movement for funds directly from the bank or origin to the recipient bank, without using intermediaries.

COMMUNITY NEWS

  • Square launches bitcoin deposits for its Cash App, as an addition to its the buy, sell and transfer options. Link
  • Facebook is looking to hire more than 30 blockchain professionals, including six engineers for the Calibra crypto wallet. Link
  • Number of Bitcoin ATMs just breached 5000 globally. Link
  • Binance executes the first liquidation in testing for margin trading feature. Link
  • Opera launches iPhone browser with a built-in crypto wallet. Link
  • Demand for new Bitcoin miners is overtaking the supply. Link
  • IOTA release research paper showcasing an improved algorithm for better security and scalability. Link
  • CFTC Bitcoin payouts for derivatives for small U.S. retail investors. Link
  • Weed DNA is being added to the blockchain by Panamanian cannabis startup. Link
  • Pokemon parody song hits internet to teach the masses about crypto. Link
  • TRON Foundation announces plans for a $20m TRX Buyback scheme. Link
  • ETH price rises as it feels the ripples of Bitcoin’s success this week. Link
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