Daily Cryptocurrency Bulletin For Wednesday, July 17, 2019July 17, 2019 2:32 pm
Facebook received a grilling in their Senate hearing yesterday with Sherrod Brown, the banking committee’s highest-ranking Democrat, claiming he would support legislation reining in Libra. He was not persuaded Calibra, Facebook’s wallet subsidiary, would not share user data with the Libra Association consortium. Facebook’s blockchain lead David Marcus showed his trust in the project, claiming he would accept 100 percent of his salary in Libra. Gary Gensler, former CFTC chair, says in written testimony before the House Financial Services Committee hearing today Libra is a security and resembles banking structures.
Grayscale Investments has recorded an all-time high volume of assets under management of $2.7 billion – nearly tripling its AUM recorded the preceding quarter. Institutional investors represented the highest percentage of total demand for Grayscale products – 84% since July 2018. Altcoins also increased sharply, accounting for 24% of inflows in Q2 vs 1% in Q1.
Samsung Blockchain SDK has launched, offering a payment gateway for cryptocurrencies.
Share Internet Data, the internet crowdsourcing company, has partnered with private equity firm LDJ Capital to launch a blockchain-based digital banking solution. Dubbed LDJ Digital, the app can function as a debit card and it supports both fiat money and cryptocurrencies.
France is poised to approve its first ICO operators and other crypto businesses with its new regulatory approach to the sector later this month. Anne Marechal, executive director at the Financial Markets Authority (AMF), is “in talks with three or four candidates for ICOs.”
Bitcoin $9,405.76 USD (-12.31 percent) stolen from the $40 million hack of one of Binance’s hot wallets in May is on the move. Hackers appear to be liquidating some of the stolen assets through various exchanges, according to Chainalysis. They report the hackers are one of two prominent, professional hacking groups. Together, these two groups are responsible for stealing around $1 billion to date, at least 60% of all publicly reported. Meanwhile, LedgerX, which recently received approval to launch Bitcoin derivatives trading from the U.S. CFTC, is preparing to launch a call option that pays off if BTC breaks $100K by December of 2020. According to LedgerX CEO Paul Chou, “dozens and dozens of these institutions got back to us saying we’d be interested in trading a contract like this”. Bitcoin has continued to pullback with BTC down more than 12 percent today, breaking below $10,000.
Litecoin $78.94 USD (-12.16 percent) has gained support from Binance Singapore. Users can now trade LTC directly with the Singapore dollar.
Ripple $0.301105 USD (-4.09 percent) is working to install xCurrent “with all the banks in India,” according to Sachin Maheshwari, a senior integration engineer at Ripple. “We made payments from the Middle East to India within just one or two minutes and completed an entire validation of the transaction as well.”
Waves $1.37 USD (-8.93 percent) has sold their stake in the founded startup Vostok, the data management and smart city-oriented project, to financial consultancy GHP Group. The Waves platform has developed blockchain solutions through partnering with Russia’s largest private and state-owned enterprises for industrial and military use. Vostok aligned with the Russian state-owned conglomerate Rostec in 2018 to securely manage data for the firm’s 700 industrial entities. The move comes as Waves CEO Alexander Ivanov claims he would “like to focus on the international development of the Waves Platform.”
– WN.com, Jamie Saarloos