Cryptocurrency Daily News Bulletin: August 9, 2018

August 9, 2018 2:01 pm Published by

General News

ICORating revealed their latest report, showing more than half (55 percent) of all ICO projects failed to complete their crowdfunding in Q2 2018. Nevertheless, money continued to flow into ICO projects, rising from $3.3 billion in Q1 to $8.3 billion in Q2 — a 60 percent surge in investments. ICORating concluded that “the overall quality of projects has significantly worsened.”

Major League Baseball Players Association: The MLBPA have launched a partnership with a new token, Player Token. The crypto-collectible service that features 73 All-Stars and players from all 30 Major League baseball teams is the first ever in-market athlete digital crypto collectible, and the latest crypto development in U.S. sports. 

Yale University financial experts have suggested a system of factors to predict price trends in major cryptocurrencies. Yale economist Aleh Tsyvinski and Yukun Liu, a Ph.D. candidate, reportedly conducted the “first-ever comprehensive economic analysis of cryptocurrency and the blockchain technology.” They find that cryptocurrencies “have no exposure” to most common stock, commodity and currency markets, as well as macro factors. Specific factors to crypto markets such as a “strong time-series momentum effect” show that if bitcoin increases over a week, it is likely keep growing over the following week. Investor attention (the correlation between crypto prices and the number of posts on social media and in search engines) was also a strong factor.

Thailand’s SEC says they have seen increased interest in licenses to operate ICOs following the Finance Ministry’s announcement to introduce ICO regulations, with almost 50 ICO projects expressing interest in a becoming certified.


Augur $23.21 USD (-8.16 percent), perhaps the most highly-touted dApp built on Ethereum, may be exposedto a major vulnerability. The bug, disclosed through bug bounty platform HackerOne by security researcher Viacheslav Sniezhkov, would have allowed an attacker to inject fraudulent data into Augur’s UI, potentially leading to a significant loss of funds on the part of affected users.

Bitcoin $6,348.64 USD (-2.63 percent): Swiss-based trading platform ShapeShift AG has announced the acquisition of Bitfract, a software firm that allows users to swap bitcoin into dozens of digital assets in one transaction. The integrated Bitfract tool is poised as a game changer that simplifies the buying process by allowing investors rebalance their cryptocurrency portfolios in quick and easy steps, as well as reducing fees.

Ethereum $361.49 USD (-2.26 percent): Microsoft has debuted a new Blockchain as a Service (BaaS) product that allows businesses across industry verticals to deploy a flexible instance of Ethereum tailored specifically for enterprise environment. Ethereum Proof-of-Authority on Azure allows enterprises to build applications on an Ethereum blockchain that is not secured by a Proof-of-Work (PoW) consensus algorithm and consequently does not require mining — features better suited for networks in private/consortium networks.

Meanwhile, Opera, the web browser backed by Bitmain, has announced that it will add a native ethereum wallet to the desktop version of its web browsing software.

Ethereum Classic $15.12 USD (-7.06 percent) trading pairs have been launched Bittrex; the third exchange to do so this week following Coinbase and Robinhood. Bittrex is looking to expand its fiat markets, launching USD pairs for ETC and XRP on August 20.

FunFair $0.018563 USD (-3.63 percent) CEO, Jez San, has announced that his team is on the “home stretch,” though he wouldn’t be drawn on any specific date for the blockchain gambling platform’s release. The next landmark will be testing the FunPass KYC solution, described as a “blockchain-based identity construct” which enables user to be recognised and affirmed immediately. After that will be beta-testing and finally the first gaming license.

Humaniq $0.057592 USD (0.80 percent) have announced its listing om Hotbit; the seventh crypto exchange to list HMQ.

NEM $0.120297 USD (-4.58 percent) Foundation have announced their collaboration with Enspiral Dev Academy, a top web development school in New Zealand, to train experts in the sphere of Blockchain. The cooperation will include financing from the NEM’s Community Fund with a budget of $100 million. They have also expanded to Malaysian state of Penang, as they explore the market in Penang through the assistance of the Internet Alliance.

Ripple $0.341879 USD (-3.16 percent) may face a fourth lawsuit connected to the legal classification of the cryptocurrency XRP. Rosen Law Firm says it is preparing “a class action lawsuit to recover losses suffered by purchasers of Ripple’s XRP tokens.”

Tezos $1.59 USD (-3.24 percent): Claims against VC Tim Draper and Bitcoin Suisse in a Tezos class action lawsuit have been dismissed. The securities litigation case against Draper has been dismissed with leave to amend while for Bitcoin Suisse it has been dismissed without leave to amend. U.S. District Judge Richard Seeborg claimed the lead plaintiff in the class action lawsuit, Arman Anvari, failed to argue the “statutory seller” claim against Draper and Bitcoin Suisse. Additionally, Seeborg ruled that Draper had no direct control over Tezos and thus could not be held individually responsible as a “control person.” Motions by the co-founders of Tezos, Arthur and Kathleen Brietman, as well as their firm Dynamic Ledger Solutions and Swiss foundation Tezos Stiftung were, however, denied.

Tron $0.024757 USD (-2.72 percent) has seen a sharp rise in transaction volume, with the majority of exchanges having completed migrating their customer’s TRX tokens to the platform’s new blockchain., Jamie Saarloos

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