Cryptocurrency Daily News Bulletin: August 1, 2018

August 1, 2018 1:09 pm Published by

General News

Binance has made its first acquisition, snapping up mobile wallet company Trust Wallet. Trust Wallet will remain independent following the deal, but Binance will assist running the admin side of the business and in non-technical areas like marketing. Users who want to withdraw funds into a wallet now have the option to do so.

Forrester Research has released findings claiming that 90 percent of currently active U.S. companies’ blockchain initiatives will never become operational.  

Northern Trust, 129-year-old Chicago-based firm, has begun to open some of its services to crypto hedge funds while also exploring how to integrate blockchain technology into its private equity division. At present, Northern Trust is not custodying cryptoassets directly, but are providing crypto-curious hedge funds and institutions with administrative services such as helping them assign values to their investments, assisting in AML compliance, and verifying third-party custodians’ cryptoasset holdings reported on balance sheets.

Thomson Reuters has announced a partnership with cryptocurrency tracking resource CryptoCompare. CryptoCompare will now provide order book and trade data on 50 cryptocurrencies for Reuters’ financial desktop platform Eikon, which is aimed at institutional investors. Sam Chadwick, the director of strategy in innovation and blockchain at Reuters, stated that the crypto bear market has not lessened the “increasing demand from our customers for pricing coverage of the major names.”

South Korean treasure-hunting company, Shinil Group, recently made headlines across the world once they announced an ICO after making the big discovery of a sunken Russian battleship carrying gold worth $130 billion. Shinil Group said through a statement how they were the “only entity in the world” who have found the historical ship, but the Korea Institute of Ocean Science and Technology told local media they found the shipwreck in 2003. Seoul’s Gangseo District Police put out a travel ban yesterday for Shinil Group CEO Choi Yong-seok and other members and are expected to summon the individuals for investigation.

Switzerland: Online banking service provider Swissquote has seen a 44 percent surge in profits in the first half of 2018. The Swiss-based online bank was one of “the first” European online banks to launch BTC trading accounts for its clients and attributed the growth to a “brisk demand” for crypto products and the bull market earlier this year.   

United States: American economist Paul Krugman has taken another swing bitcoin, arguing that the prominent cryptocurrency, as well as its peers, represents a 300-year economic regression and will “likely” experience a “total collapse.”

Cryptocurrencies

Bitcoin $7,629.76 USD (-5.06 percent): TABB Group has released a report claiming that the OTC market of bitcoin is at least two to three times larger than exchange market. If this is the case, since the bitcoin exchange market processes around $4 billion worth of trades per day, this would mean the OTC market of bitcoin is processing more than $12 billion worth of trades daily.

Meanwhile, Fundstrat Global Advisors announced that they will be accepting BTC from clients for payment through BitPay.

Bitcoin Cash $764.26 USD (-3.89 percent) co-founder Roger Ver claims that around 70% of all shops in Cyprus are going to accept BCH by November.

Ethereum $425.14 USD (-4.28 percent): Jun Hasegawa, founder and CEO at OmiseGo, claims that the correction in the crypto markets has allowed the community to make significant progress in scaling blockchain technology and improving the applicability of cryptocurrencies. Hasegawa said 2018 has been a year of ecosystem building, with progress made in the development of Sharding, Casper, Plasma, and interchain protocols, which are crucial technologies that are necessary to achieve hundreds of thousands of transactions on a public blockchain network. He emphasized that in the next two years, Ethereum will see real business adoption, more large-scale dApps, massive scaling, and adoption by the government, all based on the development of scaling technologies in 2018.

EOS $7.30 USD (-1.05 percent) has been listed on Poloniex exchange. Deposits and withdrawals are currently live and trading in EOS/USDT, EOS/BTC, and EOS/ETH pairs has been enabled today.

Meanwhile, Block.One announced the addition of a new open-source development tool, dubbed Demux. Its aim is to make creating decentralized applications (dApps) much easier, by providing a simple bridge to traditional database management systems. Furthermore, blockchain-based startup EOS PRO announced its launch, offering enterprise-grade distributed infrastructure using the high speed of EOSIO open source blockchain software.

Komodo $1.45 USD (-2.14 percent) has been added by BitPrime, New Zealand’s premier cryptocurrency retailer, along with Tezos, IOST, NavCoin, and Enigma, in a bid to grow the availability of cryptocurrencies in New Zealand.

PIVX $1.88 USD (-2.84 percent): The Emerging Musicians Program is partnering with local technology innovators on a pilot project that allows people to tip musicians digitally using the cryptocurrency PIVX. Those wishing to tip using PIVX can scan a QR code displayed on signs carried by each musician.

Ripple $0.451333 USD (3.17 percent): According to a tweet from Ripple, former U.S. President Bill Clinton is set to keynote this year’s “Swell by Ripple” conference. The annual event invites global leaders from the policy, payments, and technology fields to come together and discuss how blockchain can be used to benefit society at large. The news has been seen positively, with XRP one of the few coins in the green today following BTC’s pullback.

Meanwhile, Ripple is partnering with Madonna to raise funds for orphans in the African nation of Malawi. All donations will go to Raising Malawi, a non-profit organization Madonna co-founded. Ripple is matching all donations made through the drive.

Tron $0.033440 USD (-3.07 percent) has announced the debut of the TronWallet app on Android. The new app is available to download on Google Play and is on its way to iOS shortly. Tron Foundation has also seen supportfrom Atomic Wallet, after announcing its listing. This means that the coin will now be available to a variety of OS users, including Mac, Windows, Ubuntu, Fedora, and Debian.

WN.com, Jamie Saarloos



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