CryptoWeekly 22 June 2018 – Market Updates

 

In a recent email to his team, Coinbase CEO Brian Armstrong shared a series of insights on the price of crypto that are worth remembering for any crypto investor

  • BTC: $6,665.67 | -$1,248.90 (-15.81%) since last week
  • ETH: $516.89 | -$119.70 (-18.80%) since last week
  • LTC: $94.92 | -$32.68 (-25.69%) since last week
Financial pros are now sharing some tips with crypto’s wild west traders
One of the financial industry’s largest trade groups has just issued a new white paper outlining best practices for digital asset exchanges. The group’s recommendations range from practical improvements that can immediately be made, to more aspirational goals for the crypto industry as a whole.

Meet the real estate investor who sold his cars and house to buy a crypto exchange
Singaporean real estate magnate Eric Cheng sold nearly all of his cars and his multimillion-dollar house to fund his purchase of FX Trade Financial (and its affiliate BitTrade), one of Japan’s largest crypto exchanges. The purchase made Cheng the only foreign owner of a Japanese crypto exchange.

Here’s why key crypto players are so receptive to funding from Ripple and Binance
Ripple and Binance are pouring funding into crypto startups and research initiatives, and many organizations are soliciting funding from them. These recent initiatives are a win for both parties, as they allow Ripple and Binance to grow their ecosystem while incubating other startups as well.

Coinbase’s CEO on how focusing too much on crypto prices hinders innovation
In a recent email to his team, Coinbase CEO Brian Armstrong shared a series of insights on the price of crypto that are worth remembering for any crypto investor. Armstrong believes that focusing on the price of crypto is counterproductive and that it’s better to focus purely on technological innovation.

Hippocrates has rolled out one of the first self-sovereign data systems on Ethereum
Blockchain startup Hippocrates has just released what it bills as the first self-sovereign data system built on Ethereum. The platform, which has a significant use case in the healthcare sector, is designed for individuals looking to have full control over their personal data.

One of South Korea’s largest crypto exchanges has been hacked for $32M
After being hacked once already earlier this year, Bithumb, one of South Korea’s most influential exchanges, was hacked to the tune of $32M in stolen tokens. The exchange halted trading as of earlier this week, and is now working to recover its customers’ missing funds.

Blockchain technology is continuing to transform the automotive industry
Auto companies are leveraging blockchain technology for increasingly innovative applications. IOTA and Volkswagen recently tested an implementation of Tangle in their autonomous car system, and other companies like BMW are using blockchain to better track their entire supply chain.

VCs are divided over how to begin launching their crypto funds
Most big VCs are in agreement that their firms need to begin opening up crypto funds, but they’re a bit divided over how to do so. Some VCs (like Andreesen Horowitz) are launching their own crypto funds, while others are simply investing in other crypto funds.

Read about why the BIS’s report on crypto doesn’t accurately reflect reality
After the Bank for International Settlements released a condemnation of cryptocurrencies earlier this week, many in the crypto community dissected why the report wasn’t an accurate depiction of reality. This piece does a great job of identifying the key weaknesses in the BIS’s criticisms of crypto.

Switzerland aims to leverage blockchain throughout its entire economy
In a recent meeting for Switzerland’s head financial regulators, one of the country’s members of the head of state went on the record as saying that blockchain would eventually “penetrate its entire economy” and that more emphasis should be put on educating Switzerland’s youth on crypto.

COMMUNITY NEWS

  • Blockchain startup Tron has acquired BitTorrent for $140M. Link
  • Use this tool to quickly see how much your crypto gains and losses are. Link
  • Ripple is petitioning Coinbase to add the XRP cryptocurrency to its exchange. Link
  • Goldman Sachs may be opening crypto trades up to more than just futures. Link
  • Check out Vitalik Buterin’s latest presentation on Ethereum at Cornell. Link
  • BitPay is hiring a B2B Content Specialist in Alpharetta, Georgia. Link
  • Join the North America Blockchain Expo on November 28-29 in Santa Clara, CA. Link
  • Tether is claiming their crypto asset is fully backed – but there’s one catch. Link
  • Learn more about the conspiracy that’s tearing crypto communities apart. Link
  • The Winklevoss brothers win a patent to provide crypto-based exchange-traded products. Link
Thanks to Chainfuel for sponsoring this newsletter edition.
Edited by Chris Osborne in Budapest (in town? reach out to get a coffee). Check out CryptoList and TokenDemoDay 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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