Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto.
BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!
Grayscale’s Bitcoin Cash and Litecoin Funds Available for Public Trading
The digital asset management firm Grayscale Investments announced on Aug 17 that its Bitcoin Cash and Litecoin Trusts are now publicly tradable. Shares of the two trusts will be traded on OTC markets under the tickers BCHG and LTCN.
Bitcoin Cash and Litecoin have joined the Grayscale Bitcoin Trust (GBTC), Ethereum Trust (ETHE), Ethereum Classic Trust (ETCG), and Digital Large Cap Fund (GDLC) as being publicly tradeable. How do think this will impact the market? To read more, click here.
The EU is Close to Rolling Out “Historic” Crypto Regulations
The European Commission is set to complete a regulatory initiative that will result in a clear definition of cryptocurrency under European law.
According to a report by IFC Review, the EU’s legislative body is approaching the final stages of the continent’s first digital currency framework. To read the full article, click here.
UK Bitcoin Blackmailer Found Guilty of Contaminating Heinz Baby Food
A British sheep farmer has been found guilty of blackmail and food contamination after trying to extort a massive amount in bitcoin.
Nigel Wright had laced jars of Heinz baby food with shards of metal, before demanding a major supermarket pay him in bitcoin to reveal where he’d placed the potentially lethal products.
Wright received the guilty verdict earlier today at the Old Bailey (the UK’s central criminal court). He claimed that travelers had coerced him into contaminating the food with threats against his family. You can read more by clicking here.
Bitfinex Hackers Shrug Off $400M Reward, Move Bitcoin Fortune to New Wallet
The offer of a $400 million reward appears not to be sufficient for the thieves that stole a massive amount of Bitcoin from Bitfinex back in 2016. The stolen stash has continued to move to different wallets throughout the years.
According to a Monday tweet by the Whale Alert Bitcoin transaction tracking bot, 467.67 BTC from the 2016 Bitfinex hack was moved to a new wallet. Based on the current Bitcoin price, the transfer is valued at about $5.77 million.
Details from Blockchain show that Monday’s funds were the first-ever transaction for the new wallet in question. The transfer is also the latest development involving the stolen funds from 2016, with two other redistributions made earlier in the year. To read the full article, click here.
Roger Ver Promotes Dash on Reddit
In a somewhat surprising turn of events, Roger Ver, the co-founder of Bitcoin fork, Bitcoin Cash (BCH), today told users to buy DASH on Reddit.
The statement came as a result of users requesting an Infrastructure Funding Plan (IFP) for BCH. The Dash Twitter world was quick to point out Ver’s statement To read more, click here.
Brave Releases Update on its Decentralized Ad Platform
In a June blog post, the team behind Brave, the open-source browser known for its privacy and unique advertising model, published a straw version of one of its research initiatives.
The initiative is an ad platform called ‘THEMIS.’ Themis is a decentralized and private-by-design protocol that aims to improve upon the current Brave ad ecosystem. This new protocol comes with numerous potentially attractive features. To read the full article about the update, click here.
OCEAN Price Moons After Binance Listing
Crypto exchange Binance announced its latest listing, data-sharing platform Ocean Protocol’s token OCEAN. Upon news of the Binance listing, the token price quite predictably started surging. To read the full article, click here.
DeFi Total Value Locked Tops $6 Billion Milestone
Decentralized finance projects keep gathering momentum. Many are attributing the current bull market to the boom in popularity of these protocols. From high-interest earnings to yield farming, we may be witnessing how DeFi takes over crypto.
Just two weeks ago, total value locked (TVL) on all DeFi protocols combined reached $4 billion. Today, that number has topped the $6 billion mark, adding an average of one billion dollars per week. Are you involved in the DeFi space? You can read more by clicking here.
Huobi Launches Global DeFi Alliance to Nurture Growing Sector
Huobi Group’s Huobi DeFi Labs has just announced the formation of the Global DeFi Alliance. The group features several key participants from the rapidly expanding DeFi sector.
The aim of the alliance is to establish and promote best practices in the industry, advance research into DeFi, and to promote collaboration between East and West. The Global DeFi Alliance will also attempt to bridge the gap between centralized and decentralized finance. Read more by clicking here.
Andreas Antonopoulos Calls the ETH Supply Debate “Unproductive and Dangerous”
Aside from DeFi, the debate surrounding Ethereum’s supply has been the trending topic on crypto Twitter over the last week.
The debate hinges on two questions: what is the current circulating supply of ETH? And can its total be independently verified? This issue has been discussed before but was reignited by a tweet from Bitcoin influencer and Morgan Creek Capital founder Anthony Pompliano. Andreas Antonopoulos initially called the debate a “silly gotcha“ and in a recent podcast, he urged people to focus more on building their own solutions.
What do you think about the debate? You can read the full article by clicking here.
China CBDC Trials Coming to Beijing and 27 Other Cities
China’s accelerated central bank digital currency (CBDC) plans are set to reach another milestone with tests scheduled for Beijing and 27 cities in the country.
These new digital currency electronic payment (DCEP) trials will join other public pilots already ongoing in cities like Shenzhen and Suzhou.
While several countries are actively developing their own CBDCs, China appears to be in the lead. International restaurant and fast food brands are even partnering with the central bank to test the DCEP. You can read more by clicking here.
That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!
