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!
Barcelona and Chiliz Announce $BAR , the Barcelona Fan Token
Chiliz recently announced a new partnership with F.C. Barcelona, the Spanish football powerhouse. Together, they will be launching $BAR, Barcelona’s new Fan Token. The token will be listed on both Chiliz.net and Socios.com. The Fan Token Offering (FTO) itself will take place during a 48-hour flash sale, beginning on June 22nd.
The tokens will be listed at a fixed price of €2 and will be sold on a first-come, first-served basis. There will be one million $BAR in circulation upon completion of the FTO. What do you think about this? You can read the full article by clicking here.
Tightening Regulations Chipping Away at Crypto ‘Wild West’
U.K Financial regulators continue to pressure crypto businesses about their obligations. British authorities have even threatened forced closures for defaulters. Across the globe, financial watchdogs have brought down the hammer on the crypto market with a particular focus on anti-money laundering (AML) and combating the financing of terrorism (CFT).
These measures have arrived in the form of strict compliance for user identity verification and other forms of know your customer (KYC) protocols. What do you think about this? You can read the full article by clicking here.
Deloitte Survey Shows Blockchain Gaining Wider Enterprise Adoption
According to Deloitte’s 2020 Global Blockchain Survey, more than one-third of global establishments are incorporating blockchain in their operations. In addition, many organizations recognize blockchain as a “strategic priority” in maintaining competitive advantages in their respective markets.
Blockchain technology is seeing greater adoption by organizations across the world as the emerging digital economy continues to mature. Conglomerates in different countries say the novel tech will play a significant role in the evolution of the industrial landscape. What do you think about this? You can read the full article by clicking here.
DeFi Whales Stir up Fears of Market Manipulation
The recent overnight success of the Compound DeFi platform, along with its associated token launch, has attracted a number of crypto critics that are labeling it as nothing more than a pump and dump or a Bitconnect-like Ponzi scheme. It’s been just over a week now since Compound Finance began its token distribution. Before the event, the DeFi liquidity platform was relatively unknown in wider crypto circles, but the huge surge in token prices last week certainly changed that.
In that short space of time, COMP became the first DeFi unicorn with over a billion dollars in market capitalization and two billion in liquidity. According to Uniswap.info prices peaked on June 21 at $327 but have since corrected 28% to around $235 at the time of press. Daily volume is still over $4 million while liquidity has fallen to around $1.8 million. What do you think? Click here to read more.
Binance U-Turn: Exchange Finally Adds DigiByte for Zero Listing Fee
Major cryptocurrency exchange Binance appears to have U-turned on its previous refusal to support DigiByte (DGB) trading.
It’s quite a surprise to see Binance suddenly list DigiByte, given the considerable animosity that exists between DGB’s founder and Binance CEO Changpeng Zhao. DigiByte founder, Jared Tate, has been a vocal critic of the way the exchange does business since its inception in 2017. Binance’s sudden reversal to list follows an announcement that Tate would be stepping down from the DGB project.
The entire episode suggests that Binance’s refusal to offer DigiByte trading was based entirely on personal reasons. What do you think about this? You can read the article by clicking here.
Weiss Crypto Ratings Shills ChainLink Relentlessly
ChainLink appears to have impressed long-standing investment ratings service Weiss. The company’s cryptocurrency-focused division has been relentlessly shilling the project over the last week or so. Numerous tweets recently dedicated to the digital asset make a case for higher LINK prices.
Investment analysts at the firm have even put out an incredibly bullish price prediction for the decentralized oracle network. But they also neglect to mention any of the project’s potential shortcomings. What do you think about this? You can read the full article by clicking here.
Bancor Breach Exposes Latest DeFi Exploit
Reports are emerging of exploitation of vulnerabilities in the Bancor decentralized finance platform that may have resulted in the loss of funds. It is the latest attack on the embryonic and burgeoning DeFi industry.
According to a tweet by on-chain liquidity platform Bancor, in the early hours of June 18, a vulnerability was discovered in the latest version of the network’s smart contracts.The platform added that it has deployed a new version of the BancorNetwork contract that fixes the vulnerability. There were no further updates on the platform website or twitter feed at the time of press, however, a message on the Bancor Telegram group reassured users that all funds were safe. What do you think about this? You can read the full article by clicking here.
ConsenSys Unveils Ethereum Staking Services Ahead of ETH 2.0 Launch
The blockchain software engineering firm ConsenSys, announced this week that it is launching an institutional-grade Ethereum staking-as-a-service platform. The demand for staking applications ahead of the long-awaited ETH 2.0 launch is heating up, and more are likely to follow.
ConsenSys, which has recently launched compliance services for the DeFi industry, provides enterprise-level blockchain tracing and analysis primarily for Ethereum based systems. On Tuesday this week, the firm announced that it was joining forces with six partners to embark on a Codefi Staking Pilot Program.
What do you think about this? You can read the full article 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!
