Crypto Weekly, 4th June 2019 Market News

When the China-US trade war took a turn for the worse earlier this year, many noticed the inverse correlation between Bitcoin and the Chinese Yuan.

Facebook is now holding talks with US regulators on its stablecoin initiative
The social networking giant is now in the early stages of discussions with the CFTC about its proposed stablecoin, in an effort to resolve any potential regulatory issues before rolling the token out next year. Focused on payments and cross-border transactions, Facebook’s cryptocurrency technology is now being vetted by regulators for how it will adhere to KYC and anti-money laundering regulations as well.On China, Bitcoin, and the escalating trade war
When the China-US trade war took a turn for the worse earlier this year, many noticed the inverse correlation between Bitcoin and the Chinese Yuan. This trend seems likely to continue, and the combination of trade tensions with Bitcoin’s imminent halving will provide support to Bitcoin’s value in the near-term.Hackers have infected 50,000 servers with sophisticated crypto mining malware
A report from Guardicore Labs last week found that hackers had used an unprecedented range of sophisticated tools to infect more than 50K servers with mining malware. New attacks (which targeted a select group of industries) were algorithmically created on a weekly basis, and appeared to originate from a shadowy Chinese crypto-hacking group.

Bitcoin Cash vs Bitcoin SV: six months after the hash war
The “hash war” of late 2018 was one of the most divisive moments in Bitcoin’s history. Despite rampant speculation that one side would emerge the victor, both chains are still running independently. Bitcoin Cash seems to remain set on pursuing its original vision, but the combined market cap of Bitcoin Cash and Bitcoin SV has declined more than 33% since the hashing war began.

Check out PwC’s annual crypto hedge fund report here
PwC’s annual report is an excellent view into the still-nascent crypto hedge fund industry. More than 100 crypto hedge funds were surveyed as part of the company’s research, and while many are still small (with an average of just over $1M in assets under management for new funds), it’s been a challenging investment environment for all. The average crypto hedge fund returned -47% on average over the past year.

Tron founder Justin Sun has paid $4.57M for a lunch with Warren Buffett
Self-proclaimed crypto pioneer Justin Sun has won a lunch with Warren Buffett by bidding $4.57M for the opportunity to dine with the business titan. Sun reportedly hopes to use the opportunity to discuss the future of crypto with Buffett and other crypto industry leaders in a bid to influence the investment legend’s views on the topic.

How not to investigate when cryptocurrency has been stolen
CipherBlade’s report on how to handle the dilemma of having crypto stolen is a must-read. It primarily focuses on the case of Coinomi, a crypto wallet app that saw millions in user funds compromise after a recent hacking attempt. This report outlines the right (and wrong) ways to react when your crypto is stolen, and how to take recourse in a timely manner.

Here’s why one economist thinks Bitcoin has a chance to hit $100K in the next few years
The crypto bull market is back, and some economists are predicting that Bitcoin itself may hit a $100K valuation in 2021. This is based on a macro-economic growth model that analyzes past market trends and projects Bitcoin’s historic growth curve out over a variety of scenarios to arrive at a range of valuations.

COMMUNITY NEWS

  • We just added 41 new crypto investors to CryptoList. Link
  • You can now launch your own crypto exchange using 0x’s launch kit. Link
  • You can now earn free EOS simply by completing lessons on Coinbase Learn. Link
  • Ripple is raising the bar on how it reports sales of XRP. Link
  • Here’s where some of the largest crypto exchanges are based around the world. Link
  • Mexico is getting eight new crypto exchanges this month. Link
  • New Zealand-based Cryptopia is filing for bankruptcy after a series of debilitating hacks. Link
  • Binance moves $1.26B worth of Bitcoin for $125 in network fees. Link
  • Kik is launching a “Defend Crypto” fund to fight the SEC in the US. Link
  • Binance is testing out a new GBP-based stablecoin. Link
  • This is a great keynote on financial privacy by the CEO of Zcash. Link
  • The startup behind Ethereum’s infamous DAO has been acquired by Blockchains.com. 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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