Weekly Crypto News Roundup - 29th of May - 4th of June

Weekly Crypto News Roundup - 29th of May - 4th of June

By pheonixdown-dee | Crypto 101 | 4 Jun 2020

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!


South Korean Giant Kakao Rolls Out Crypto Wallet App Klip


Klaytn, the blockchain platform developed by South Korean conglomerate Kakao, has just released a crypto wallet.The company announced the news via a Medium post published on Wednesday. According to the announcement, the wallet named Klip will support Klaytn’s native token KLAY and ten other Klaytn-based virtual ‘coins’ as well as numerous other non-fungible tokens (NFT). To read the full article, click here.


Cryptocurrency Regulation Talks in Iran Appear to Be Picking Up Steam


Iranian lawmaker, Mohammad Hossein Farhangi, a member of the Industries and Mines Committee, has said in a parliament session that it was the central bank’s responsibility to look into cryptocurrencies and urged them to seriously examine the asset class. What do you think about this? You can read the full article by clicking here.


Roger Ver Claims Meeting with Head of State Regarding Bitcoin Cash National Adoption


Roger Ver has claimed to be meeting with a national head of state to discuss cryptocurrency. The most prominent advocate of Bitcoin Cash (BCH) and long-time cryptocurrency proponent said the topic would be “making Bitcoin Cash an official currency of a sovereign nation.” Hot air or do you believe him? Which country do you think he is talking? You can read the full article by clicking here.


Crypto Exchanges in Finland and Russia Receive the Most Illegal Funds


Finnish exchanges remain the most popular destination for illegal cryptocurrency proceeds. The Scandinavian nation has dubiously claimed the title for the third year in a row.In its Spring 2020 crypto crime and AML report, the blockchain tracking firm CipherTrace revealed that exchanges in Finland and Russia account for most of the illicit funds. Click here to read more.


Tether Treasury Mints Another 200M USDT on TRON


The Tether Treasury continues to act just like the Fed. Tether minted a hefty 200M in USDT and issued it on the TRON blockchain. According to Tether’s self-reporting, there are now over $9.3 billion USDT in circulation. It’s unclear whether or not this includes the 200M just issued. However, Tether has a reputation for ‘slowly’ updating its transparency page. The issuance places Tether neck-and-neck with Ripple’s XRP to be the third-largest cryptocurrency by market capitalization. What do you think about this? Click here to read the full article.  


Bitmain Launches Cheaper T19 Bitcoin Mining Hardware


Bitcoin (BTC) mining giant Bitmain has released a cheaper Antminer model as the competition among major players intensifies. Bitmain announced the news of the mining hardware rollout via a blog post published on Monday. According to the press release, the Bitcoin mining rig manufacturer is releasing the Antminer T19, the latest addition in the T-series with a price a little lower than the S19 model. To read the full article click here.


Crypto Restaurant Review Portal Secures $2.6 Million in Funding


Restaurant review portal SynchroLife brings its total Series A funding tally to $3.7 million. Japanese-based restaurant discovery portal SynchroLife today announced that it had secured an additional $2.6 million in Series A Funding.The social media restaurant review platform uses AI to personalize recommendations. Crypto rewards come in the form of the company’s native token, the SynchroCoin. The latest investment round led by MTG Ventures Inc. brings the total funding for SynchroLife parent company GINKAN INC to $3.7 million. To read the full article, click here.


JPMorgan Chase Settles $2.5M Case for Overcharging Crypto Clients


JPMorgan Chase Bank N.A has agreed to pay $2.5 million to settle a class-action lawsuit against it after the bank was accused of overcharging its clients for making cryptocurrency transactions. The case was filed two years ago by a number of its clients in a Manhattan federal court. They claimed that the bank denied them the right to purchase cryptos with their credit cards and instead treated them like cash advances. This resulted in exorbitant fees for the clients. What do you think about this? Click here to read the article.


Bitcoin Miners Have Sold More BTC Than They Earned This Past Week


Some Bitcoin miners seem to be capitulating in the past week. According to the latest metrics, miners have sold 673 BTC more than they earned in the past week. Despite this sell-off, Bitcoin’s price is still holding steady and is performing better than many analysts expected also, Bitcoin’s hashrate has also been slowly recovering since May 26 after a drastic drop a week earlier. To read the full article, click 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!


I am a social media manager living in Prague. I am an avid crypto enthusiast.

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