Cryptocurrency Daily News Bulletin: July 25, 2018July 25, 2018 1:15 pm
Bitwise, the cryptocurrency index fund, has filed with the U.S. SEC to offer a cryptocurrency-based ETF. Dubbed “Bitwise HOLD 10 Cryptocurrency Index Fund”, the ETF would be tied to the 10 largest cryptocurrencies by market cap. Bitwise launched the private HOLD 10 index fund back in November 2017. The fund is open for accredited investors and offers weekly liquidity. The proposed publicly-offered ETF would track the same index as the private fund.
Binance is planning to enter the South Korean market, as they are reportedly already in the process of hiring executives in South Korea. The expansion comes at a time when the country’s lawmakers are forwarding legislative bills to regulate the cryptocurrency sector and establish new policy for ICOs.
Coinbase has partnered with WeGift, a London-based FinTech start-up, for a new service which allows users to withdraw their crypto into gift cards that can be used at over 120 retailers including Uber, Amazon and Tesco, among others. This will be enabled in Europe and Australia to begin with. The upside includes zero withdrawal fees alongside an average bonus of 5% in gift card value after converting crypto from the user’s Coinbase account.
CompTIA, one of the world’s leading tech associations, has published a new guide for blockchain applications in the public sector titled “Harnessing The Blockchain Revolution“. The 31-page report explains the technology behind blockchain along with its benefits, uses and applications within the public sector.
Poloniex exchange has piqued the interest of the Investor Protection Unit of the Delaware Department of Justice (DOJ). The Chief Special Investigator of the Investor Protection Unit (IPU) wrote to a list of individuals, asking them to contact him should they have any difficulties with their Poloniex account following numerous complaints over missing deposits.
Singapore Airlines has launched KrisPay – the world’s first blockchain-based airline loyalty digital wallet. The digital wallet app will be accessible for users of the airline’s ‘KrisFlyer’ frequent flyer program and will use blockchain technology to enable travellers to convert air miles to digital currency for spending at retail establishments, hotels, petrol stations and other partner merchants in the island nation. SIA will use its own private blockchain developed with technology partner Microsoft and have completed a successful proof-of-concept trail of the application in KPMG’s Digital Village in Singapore.
Unocoin, the Indian crypto exchange, has suspended withdrawal and deposits of fiat following the RBI’s ban.
European Union: New analysis from the European Parliament Committee on Economic and Monetary Affairs asserts that cryptocurrency can be used as an alternative to money.
Japan: The Japan Virtual Currency Exchange Association (JVCEA), a self-regulatory organization formed by cryptocurrency exchanges, has proposed a limit of up to 4X the deposit amount for investors to borrow when margin trading. This comes as there is currently no rules in place for an upper limit, and as over 80 percent of the cryptocurrency trading volume in the country in 2017 came from derivatives trading
United States: The SEC has delayed their decision on whether to approve five bitcoin-related ETFs until September filed by fund provider Direxion Investments in January. One of which will match bitcoin’s price and four of which are based on the cryptocurrency’s price movements. Notably, none of the ETF proposals being postponed are from VanEck and SolidX. Meanwhile, Libertarian Party candidate for Wisconsin governor, Phil Anderson, will accept BTC donations despite the state’s Ethics Commission’s finding them a “serious challenge” to compliance with state law
Augur’s $29.42 USD (-3.41 percent) decentralised prediction market has given rise to the extremely controversial assassination markets, where some users are now betting on things like whether U.S. President Donald Trump will be assassinated by the end of the year.
Bitcoin $8,201.82 USD (0.99 percent) is taking steps towards becoming a mainstream financial instrument, as two institutional investors completed the first-ever exchange for physical (EFP) transaction involving bitcoin futures. The CME EFP Bitcoin transaction, facilitated by E D & F Man Capital Markets, a registered futures commission merchant, and itBit, an institutional-grade cryptocurrency exchange, saw two institutional traders swap a position in CME’s bitcoin futures market for an equivalent amount of the “physical” asset itself. This provides more flexibility and liquidity in the crypto market, whilst reducing frictions. Meanwhile, BTC hash rates are at all-time highs, upwards of 40 Zetahashes. Bitcoin miners are facing a significant increase in mining difficulty.
Bitcoin Cash $839.26 USD (-2.50 percent): Global crypto payment card project FuzeX have signed a partnership with Bitcoin.com, thereby adding BCH to the FuzeX card. Due to transactions speed and fee issues, they have dropped BTC and replaced it with BCH.
DigiByte $0.044141 USD (-3.64 percent) will be enabled on for use on JaxxLiberty (beta) on select platforms, the wallet provider created by Ethereum co-founder Anthony Di Iorio.
Ethereum $471.69 USD (-0.29 percent): A New York-based start-up has raised $52.5M to expand its crypto-lending operations, led by Mike Novogratz’s Galaxy Digital. BlockFi becomes the industry’s first institutional investment in crypto-backed loans, allowing Bitcoin and Ether investors to borrow against their crypto without having to sell it.
EOS $8.55 USD (4.99 percent): NOVA Wallet, a multi-platform application which is built to store and trade EOS based tokens, released its first wallet. This comes after EOS holding top spot once again in the Chinese government’s third edition of its Cryptocurrency Rating Index.
Lisk $5.03 USD (2.42 percent) has announced that members of its community in China have founded the first incubator dedicated to the Lisk platform. The Elite Center has an initial $1 million to invest in exciting Lisk projects.
NEM $0.178759 USD (0.31 percent) have announced a collaboration with Mana Labs, a community social enterprise, with the aim to improve the quality of life of local communities in New Zealand. The partnership between NEM and Mana Labs will revolve around: developing regular engagements between blockchain experts and Maori entrepreneurs/communities, providing access for the Mana Labs network to engage with NEM’s $100 million Community Fund for projects who would like to utilise the NEM platform, and access to resources and training to equip developers with further understanding in blockchain technology. This comes after the launch of the NEM Blockchain Hub in New Zealand.
PIVX $1.85 USD (0.63 percent) announced that, for the first time ever, developers are able to mint Zerocoin from the mobile wallet of the company.
Ripple $0.454739 USD (-0.29 percent): Mike Arrington, the founder of Arrington XRP Capital, who launched a hedge fund denominated in Ripple last November, said the hedge fund actually holds more BTC than XRP. “We’ve denominated our fund in XRP because it’s a fantastic way to move money across the border quickly at almost zero cost.” Nonetheless, he predicted BTC will reach $25,000 this year. Meanwhile, Ripple has releasedthe second quarter 2018 report for its digital asset XRP, whereby sales of XRP tokens were a “drop in the bucket” compared to the total XRP market. Ripple sold $75.53 million in Q2 in total compared to its global volume of $45.35 billion. They also noted that “it’s important to note that despite Ripple having its best quarter ever in Q2 — in terms of customers signed — XRP’s price continued to decline with those of other digital assets, underscoring XRP’s independence from Ripple.”
Stellar $0.300463 USD (0.89 percent) is going to be listed on Huobi exchange.
Tezos $2.09 USD (-5.74 percent): The Tezos Foundation has announced that PricewaterhouseCoopers Switzerland (PwC) will conduct an external audit of its finances and operations following multiple lawsuits over the question of its compliance with SEC regulations. The Foundation claims to be the “first large-scale blockchain organization” to be audited by PwC.
Tron $0.036933 USD (3.85 percent) have added TronLink – a new extension that allows for decentralized applications such as the CryptoKitties of Ethereum to survive Tron’s blockchain.
– WN.com, Jamie Saarloos