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Changelly Interview with Changpeng Zhao, CEO Binance — Changelly

Changelly Interview with Changpeng Zhao, CEO Binance — ChangellyToday Changelly has “Crypto Talk” with a very special guest. Please welcome Changpeng Zhao, best known as CZ Binance, CEO at Binance cryptocurrency exchange and a true crypto pioneer. He launched Binance almost two years ago, and at that time his ICO raised $15 million. To date, the company net worth is around 2 billion US dollars and keeps going up. Changelly CEO Eric Benz discussed with CZ the topical crypto issues, namely: key differences between stock and crypto exchanges, Binance DEX launch, AML/KYC issue, BSV delisting, living on crypto, advice for crypto entrepreneurs, and many more. Have a nice read!Eric: Hello, CZ! Nice to have you at “Crypto Talks” with Changelly. You started your professional journey at Bloomberg. Taking into account your knowledge of both stock and crypto exchanges working and trading principles, could you please conclude what features of traditional exchanges that crypto exchanges are lacking, and, on the contrary, what advantages do crypto exchanges have over their “older brothers” stock exchanges?CZ: Hello, Eric. Pleasure, thanks for having me. There are a number of great differences, and I don’t think I can list them all here, but on top of my head, here are a few:From the system perspective, traditional exchanges only operates a few hours a day, you can do a lot of processing, upgrades, etc during the non-trading hours. With crypto, even when exchanges stop for a few minutes, it’s a big issue.Traditional exchanges only allow a few hundred brokers to connect, usually using dedicated lines. In effect, the exchange system is only servicing a couple hundred large clients. With crypto, we have 10,000,000+ users connecting from 180 different countries, using the unreliable internet, or cell networks. Crypto is much more demanding from a system perspective.From the business perspective, in traditional markets, you have brokers and many layers of middle man, and easy asset is only tradable on a small number of exchanges, with specialist (or market makers) providing liquidity. With crypto, each asset is often traded on hundreds or even thousands of exchanges, price is much more fair and much harder to manipulate on crypto exchanges.In terms of fancy features or order types, the traditional exchanges are more evolved than the crypto exchanges. This also matches the user segment where traditional exchanges are mostly dominated by a small number of large institutional traders, whereas crypto is still predominantly retail traders.Eric: What is your attitude towards Bitcoin futures? Do you believe the Bitcoin ETF approval may play for or against BTC price in the future?CZ: I believe ETFs and derivatives in general should not affect the price of the underlying asset. The price of the underlying asset should be determined by the value of it, either utility value (such as bitcoin) or representational value (such as stocks). Having derivatives may increase the liquidity, and/or increase or decrease the volatility of it (for example futures), but will not fundamentally change the price over the long term.In general, having more liquidity is better than not, so I think it will be a good thing if approved. But BTC’s price does not fundamentally depend on ETFs.Eric: So, we cannot help but wonder about the recent sensational case with BSV delisting from Binance exchange. We want to figure out this situation with a cool head. Could you please decrypt which actions and words of Craig S Wright provoked the delisting situation? Also, was it the case with Craig’s hunt on a Bitcoin maximalist Holdonaut that became the last straw in this whole story?CZ: Firstly, I have shared my perspectives on Twitter over this issue. CSW claimed himself Satoshi Namakoto and constantly caused wars within the Bitcoin community instead of contributing real value for the industry. I personally have had zero interactions with CSW. But pretending to be someone you are not is fraud, which we don’t tolerate.Secondly, BSV delisting is not because of Craig Wright himself. Our listing review team decided the delisting depending on Binance delisting standard.Eric: Recently Binance launched Decentralized Exchange Testnet and the new Binance Chain to power the platform. Could you tell us a bit about this project?CZ: We first announced the Binance Chain and DEX plan last year (March 2018), as part of the efforts to grow the blockchain ecosystem. We managed to launch the product this April. Binance Chain is a blockchain developed by our community, with some initial directions from us; Binance DEX is a decentralized exchange developed on top of Binance Chain, with low latency, high throughput, low fees and UX similar to current centralized exchanges. Oh, and you hold your keys or funds yourself. No need to deposit your funds at an exchange. The purpose of Binance Chain and DEX is to create an alternative marketplace for issuing and trading digital assets, and grow the blockchain token economy.Eric: Does DEX launch mean that shortly it will fully replace Binance exchange and Binance token will be transferred from ERC-20 to mainnet?CZ: I don’t know, haha. Frankly speaking, I don’t think DEX will fully replace in a short time. Centralized and decentralized exchange have different advantages and meet different demands. Taking Binance exchange for example, we offer 24/7 customer services, hundreds of trading pairs and high market liquidity, and today it is popular with the majority of users. Binance DEX is preferred by those who would like to have full control of their private keys and funds; users at DEX are responsible for their funds security, and have greater freedom of issuing assets, developing tools, etc.We believe that DEX is a growing trend in the long run, although it doesn’t contradict with a centralized exchange at the current stage. We offer both options and let our users choose.All BNB token that is stored at Binance exchange and some wallets that we partner with has been automatically transformed into BEP-2 format on the mainet.Eric: There is an opinion that the IСO format has long outlived itself. However, projects such as Binance LaunchPad restore people’s hope in ICO launch that can work for both crypto entrepreneurs and investors? Could you please tell us briefly what characteristics does the Binance Research team take into account when selecting projects for Binance LaunchPad?CZ: Firstly, I believe strongly that fundraising on the blockchain is a killer app, and one that will reshape the future of entrepreneurial growth path, the blockchain landscape, and economies around the world. It is such a powerful tool that if used badly, will hurt people. But if used properly, can be tremendously beneficial for us.Binance LaunchPad has a few key differences from ICOs. We vet projects very carefully, and go to great lengths on due diligence, and also have the power to negotiate good terms. We also help the projects by raising awareness, lending brand credibility, provide liquidity and introduce them to a big user base. Binance LaunchPad is established to help promising blockchain startups to raise funds from crypto investors. We’re glad to receive positive market responses to the LaunchPad projects so far.Every time we announce a new project, Binance Research produces a report on the project accordingly to give the token sales participants a clear overview of the project. We have the obligation to research on the selected projects and disclose our study to investors.Eric: Today it seems that representatives of centralized institutions unilaterally set their rules towards crypto businesses, and are not inclined to any negotiation. What’s your attitude towards such a one-sided binding position? Also, what ways do you see can help in reaching a compromise between regulators, governments and blockchain entrepreneurs?CZ: I wrote an article on decentralization vs. centralization earlier this year, where I mentioned that people increasingly demand decentralization because power and resources are too centralized at the current society. I’m a proponent of decentralization. When it comes to decision making, we listen to the community and try to make the most benefits and transparency for the community.Unilateral rules made without the support of the community will hurt the community, the economy and also hurt the rule makers. It’s not wise to make rules without community support.Many regulators need to understand more about cryptocurrency and blockchain, and how this new industry is different from traditional industries. Being one of the most experienced players in this industry, we are willing to help regulators to learn more about the technology, its adoption and work mechanism.Eric: Talking about AML and KYC, in which cases do you think such policy implementation pays off? In your opinion, what parties should be responsible and take actions if a significant amount of suspicious liquidity goes through a crypto exchange?CZ: We have a rather large experienced team of professionals doing compliance work. Binance has the most stringent KYC/AML practices in the industry. Quoting from the recent Bitwise report:“In fact, they have been aggressive in adopting internal tools to address these issues through technology.For example, on October 17, 2018, Binance completed the roll-out of Chainalysis’ compliance software suite, which uses “​pattern recognition, proprietary algorithms and millions of open source references to identify and categorize thousands of cryptocurrency services to raise live alerts on transactions involved in suspicious activity.”142 In November 2018, it partnered with Refinitiv (formerly the Finance & Risk division of Thomson Reuters) to implement an automated Know Your Customer (KYC) platform on its exchange.143 The firm augmented this in March 2019 by partnering with IdentityMind, a reg-tech firm that ​bills itself as “the only real-time onboarding, transaction monitoring, and case management solution built for digital currency exchanges.” IdentityMind says it offers comprehensive KYC and AML services built exclusively for the blockchain.”Eric: Now let’s talk about living on crypto. Do you believe if it is possible in nowadays reality? Or to live a fulfilling life a person still needs to have some fiat currency in his/her pocket?CZ: I believe many people have been living in a “crypto-based lifestyle”, and Binance is trying hard to facilitate mass crypto adoption in all areas. Admittedly, there are still many places that only accept fiat, and you will still need fiat at the last mile, but there are plenty of fiat exchanges that do facilitate the exchange into fiat. Personally, I keep most of my equity in crypto and try to use crypto as much as possible, and only convert to fiat the bare minimum that I know I will spend in the next 2 weeks or so.Eric: Binance is known for doing various charity work. Can you tell us more about how you decide to initiate such projects and which direction to work in?CZ: In early 2018, when Binance started to achieve exponential growth, I started to realize that running a start-up is not just about business but also about influence. We want to make a difference to the world and use crypto to do the good things. It’s also about spreading crypto, or the freedom of money. I talked about it with an old friend, Helen Hai, who’s the UNIDO Goodwill Ambassador with years of development experience in Africa, and we decided to start Blockchain Charity Foundation (BCF).BCF is a nonprofit organization dedicated to achieving global sustainable development by using blockchain technology. We have a crypto charity fund and a blockchain-based donation platform to track the flow and usage of donation, ensuring the donation transparency. We’ve started several projects, most of them targeting at Africa because that’s where most of the bottom billion are based and we see the huge potential of crypto adoption. One example is the “Binance Lunch for Children” projects, which are to provide healthy food for kids in schools across Uganda. So far we’ve managed to help over 200 kids and still continue to drive this initiatives to help thousands.If anyone wants to donate money to BCF, here is the link: Which advice would you give to those entrepreneurs who are just starting their way in crypto in 2019?CZ: For traders: before you invest in any coin, please do some research on the whitepaper, team background, community feedback etc; just hold the cryptocurrency that you believe.For entrepreneurs: please stay transparent and interactive with your community and the public. Hold the cryptocurrency that you believe in, and keep building to create more value.Eric: How will crypto mass adoption look like to you?CZ: I believe there will be thousands of blockchains and millions of tokens. I know one day I can pay for metro tickets or street food everywhere in crypto, I mean BNB. 🙂That’s it, crypto fellow! If you found this crypto talk useful and wish to read more interviews like this with particular crypto entrepreneurs, leave your feedback in a comment. Also, below you can read Changelly forecast on BNB further price behavior:Nice swaps, Changellions! Interview with Changpeng Zhao, CEO Binance — Changelly was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Pompliano’s Advice to Roger Ver, Changpeng Zhao, and Soon Mark Zuckerberg?

Stanford Professor and Lean Startup pioneer Steve Blank say that great CEOs share some common personality traits. They all are tenacious and passionate, but they strangely operate best in chaos. Mark Pompliano, the CEO of Morgan Digital, could not agree more. He recently tweeted that “The best founders are comfortable in chaos.” The best founders are comfortable in chaos.— Pomp 🌪 (@APompliano) June 9, 2019 Watching fantastic CEOs like Changpeng Zhao, work around the chaos that has engulfed their businesses, it is evident that navigating turbulence successfully can be a prerequisite in business. The Binance hack that led to the loss of 7,000 BTC worth at least $40 million at the time, for instance severely shook the crypto sphere. It came at a time when cryptocurrency prices had begun to arise from their log crypto winter slumber. The hackers employed viruses and phishing techniques to access the exchange’s hot wallet, taking off with at least 2 percent of Binance’s BTC holdings. The hackers also helped themselves to some two-factor authentication codes as well as some API keys. Consequently, deposits and withdrawals at the world’s largest crypto exchange were halted. The Binance chair as if on cue, however, put a stop to any resultant fallout by first of owning up to his exchange’s failure. Changpeng Zhao’s Expensive Lesson He called it an “expensive lesson” one the exchange would learn from, especially since they promised to pay back their clients all the stolen BTC from their own pockets. The CEO also took it upon himself to make continuous 4-hour interval updates on the ongoing operation to enhance security. Then again, in a scheduled AMA, he informed his audience that he studied every tinge of his behavior microscopically looking for a moment for weakness. Zhao, notwithstanding, was a picture of serenity in the midst of chaos which played a significant role in keeping the Binance reputation intact. In the end, Zhao said that the hack was a blessing in disguise for the exchange. It seems the Binance hack became a blessing in disguise for Binance. Users got to see how Binance stands up to a challenge. Trust is built when rubber hits the road.— Gautam Chhugani (@GautamChhugani) May 15, 2019 Steve Blank says disarray, demands, and deadlines hardly affect the output of great business leaders. They actually find their composure and courage when everyone and everything else is out of order. They are the ones that step up to the plate and forge on. Roger Ver also known as Bitcoin Jesus’s hard fork that forked brought on so much chaos with it that it almost engulfed his BCH network in flames. Roger Ver’s Hard Fork That Forked In fact, the effect of the infighting was so adverse that the token dropped from the realm of mid-large caps, and there were fears that his users would sell off due to the instability.  His opponent, Craig Wright of team BSV, then made a vow to strangle all the other forks to ensure that his chain survived by using hash power to mete a 51 percent on the Bitcoin ABC chain. When the hash war commenced, the BSV camp had more than 57 percent of the hash power on the BCH network before the fork. They were therefore loud and boisterous and downright intimidated the BCH fans. Once the hash rate conflict kicked off; though, it was evident that team ABC had the upper hand instead. Roger Ver was able to defend his token’s protocol against the threats from Craig Wright. The BCH hash war is one of the best examples today of the need for leadership that operates firmly holding on to the vision amid chaos. The post Pompliano’s Advice to Roger Ver, Changpeng Zhao, and Soon Mark Zuckerberg? appeared first on Ethereum World News.
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Binance CEO Changpeng Zhao Urges Cryptocurrency Traders to Use VPN

Changpeng Zhao (CZ), the CEO of Binance, is advising cryptocurrency traders to use virtual private networks (VPNs) to circumvent country-specific blockades while trading. CZ’s comments come amid a recent pop-up on the Binance website that some commentators incorrectly ascribed to the platform geoblocking traders from specific countries including the U.S. Getting Around Country-Specific Blockade withRead MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Binance CEO Changpeng Zhao (CZ) Calls Craig Wright An Attention Seeking Troll

Binance CEO Changpeng Zhao (CZ) Calls Craig Wright An Attention Seeking Troll Craig Wright has always been in the news cycle, mostly due to his outrageous claims. The biggest one being the claim that he is Satoshi Nakamoto. Recently, speaking at a CoinGeek conference in Toronto, Wright claimed that money from major cryptocurrency institutions like […]
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Quotes, Week 24 ’18

Brad Garlinghouse, Jay Clayton, Martin Mühleise, Changpeng Zhao, and Jimmy Wales speaking on cryptocurrency and blockchain issues.

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Blockmodo Lets You Create a Snapshot Cryptocurrency Price Widget

Cryptocurrency prices never stop moving, as the market exists in a constant state of flux. There are instances, though, when it’s useful to be able to hit the pause button and view the price of a cryptocurrency at a fixed point in time. For such occasions, Blockmodo’s snapshot widgets provide historical prices that are easy to absorb at a glance. Also read: Just Rebranded – Check out Our New Look Snapshot Widget Shows Crypto Prices Frozen in Time If you’re composing an article that addresses cryptocurrency prices at a specific point in time, it may be beneficial to have a visual representation. Until recently, your options were limited to screenshotting the chart and then embedding the image into your report. Blockmodo has now created a snapshot tool that provides a cleaner, lighter and less laborious alternative. Its price widgets page provides the ability to include a snapshot price quote, accompanied by relevant market data. The code can then be embedded into your blog or website as HTML, where it will form an aesthetically pleasing miniature chart. A snapshot widget can be particularly useful for situations where you want to be able to show context to readers. This might be because a particular digital asset has just experienced sudden volatility or passed an all-time high, for example. A snapshot of Bitcoin Cash’s price was taken on June 17th, 2019. The price was 429.91 USD with an open price of 427.06 USD. Bitcoin Cash price quote. Use a Streaming Widget for Real-Time Data In addition to its snapshot widgets, Blockmodo provides more conventional streaming widgets that display the live price of a particular digital asset. Alternatively, for real-time data on BCH and BTC, provides a host of streaming widgets. Our bitcoin cash and bitcoin core widgets have recently been updated to reflect’s new branding. Available in white or black, widgets are finished in a tasteful green, and provide live updates on the state of the bitcoin markets, pegged to various fiat currencies. What are your favorite crypto price widgets? Let us know in the comments section below. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post Blockmodo Lets You Create a Snapshot Cryptocurrency Price Widget appeared first on Bitcoin News.
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Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist

Last year’s Bitcoin Cash hardfork has come with multiple negative consequences. Firstly, the BCH blockchain was split into two, leading to the birth of Bitcoin Cash SV and Bitcoin Cash ABC. The BCH community was split into two after the announcement of a proposed upgrade, which resulted in the so-called Bitcoin Cash Hash Wars where organizations supporting Bitcoin Cash ABC and Bitcoin Cash SV were competing with each other to secure the most hash power to their networks. According to a BitMex study, the Hash Wars had a total cost of over $14 million. Now it seems like it is taking its toll on Bitcoin Cash developers who are having a hard time raising the funds they need for the ongoing development of the cryptocurrency’s network, leaked screenshots of messages in a Telegram group show. “Well if something is[n’t] done, Bitcoin-ABC will shut down and BCH will cease to exist,” Bitcoin Cash and Openbazaar developer Chris Pacia said. Decentralized Fundraising While Bitcoin Cash developers need funds to work on the project, they seek to acquire them in a decentralized way. End of the road for BCH development. Even Roger has tapped out. — Skylark_BitCoin 🐉 (@skylark_bitcoin) June 16, 2019 “TLDR: Amaury complained about structured funding and no one knows how to solve the problem that doesn’t involve centralization of power or requires trust,” a user stated, referring to Bitcoin ABC developer Amaury Sechet. Users in the Telegram group had controversial opinions on Sechet’s way to raise funds. “I don’t see why donations from large entities can’t work, for instance, the initiative we have seen recently to raise funds,” a user wrote. “Nobody is donating. That’s why,” Openbazaar developer Chris Pacia replied. “That fundraiser probably won’t hit the goal and the goal is an order of magnitude less than what is needed,” he added. According to Pacia, “multi-coin” companies are the reason why Bitcoin Cash devs are underfunded. “The main problem as I see it is all the large companies that profit from BCH are multi-coin companies. If BCH goes under, they shrug their shoulders and life goes on for them. They have virtually no incentive to fund BCH,” he said. Planning to Raise 800 BCH, in collaboration with other projects and organizations such as Electron Cash and the FVNI Development Society, has launched a fundraiser on May 30 to support the Bitcoin Cash development team. The fundraiser has a phase one goal of acquiring 800 BCH (about $348,000) by August 1. Until now, contributors have already donated 348 BCH, reaching 43% of the goal. If Pacia is right and the money acquired from the fundraiser is much less than they need, then it seems like that Bitcoin Cash developers are in a really bad financial situation. However, if the fundraiser reaches its goal, the money should be enough for the devs to cool down and continue working on the project until they manage to find a viable long-term solution for their financials. The post Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist appeared first on CryptoPotato.

Monero Price Prediction Today: Daily (XMR) Value Forecast – June 17

On the upside, if the bulls break the $98 overhead resistance, the crypto’s price would rise to $120 price level. On the other hand, if the bulls fail to break the overhead resistance, the market will fall to the previous low of $95. XMR /USD Medium-term Trend: Ranging Resistance Levels: $100, $105, $110 Support Levels: […]
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Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet

Coinspeaker Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren BuffetJustin Sun, CEO of Tron seems to have some magical powers. As report speculates that the blockchain expert would be meeting with one of the most influential personalities in the financial sector – Warren Buffet, Chairmain and CEO of Berkshire Hathaway. Dated to take place on July 25th, 2019, this 20th annual charity lunch will take place in Silicon Valley, San Francisco. As opposed to Buffett’s New York’s Steakhouse venue for such gathering, this variance is in a bid to honor a local charity that the late billionaire’s wife supports – Glide Foundation.According to a Twitter post, Justin Sun calls out to his fellow crypto colleague Charlie Lee to chaperone him to this prime crypto lunch get-together. Hence, the host has been applauded by the crypto community for such a clever choice of company to this once in a lifetime financial-crypto conference.The crypto power lunch, co-hosted by Omaha-based Oracle corporation, is believed to attract a budget of $4.6 million USD. Expected to be in attendance are institutional financial investors. Subsequently, in what appears to be an optimistic approach to hop into the bandwagon, the investment genius told Bloomberg: “I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends.”Speaking on the path of Warren Buffet, the American business magnate happens to be one of the most notable detractors of Bitcoin in the early days. Referring to this neoteric digital currency as a ”worthless gambling” in the past. The Billionaire Investor at some point believed that Bitcoin was a sham, as he told Becky Quick of CNBC that “It [Bitcoin] is a delusion, basically. ”But to the delight of the entire crypto community, this financial mogul seems to be retracting those comments.Where Do We Go From Here?Speaking on behalf of the entire crypto general public, Justin Sun further stipulates that this lunch is set in place to further enlighten the financial entrepreneur and not an actual partnership with the financial powerhouse – Berkshire Hathaway. He stated:“It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies. But we want to show him the recent progress of cryptocurrency and blockchain technology.”Following blockchain’s recent involvement with several fortune 500 companies, an adoption by stellar financial tycoon such as Buffett would go a long way to bolster mainstream endorsement of cryptocurrencies. Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet

Tech Regulation’s Deft-Hand Problem: CEO DailySalon Viva Technology 2019, Startup connect : Day One At Porte De Versailles In Parisamurrayfortune

Good Monday morning. The rising drum roll to regulate digital platforms has understandable roots. Consider: - From an economics perspective, the marginal benefit of adding each new customer to a digital network is significant while the marginal cost is near zero, creating powerful winner-take-most-or-all dynamics. - From a business perspective, those economics tilt the playing field in a direction that feels vastly unfair to incumbents. (Which may be why upwards of 40% of the Fortune 500 CEOs we polled this year believe Alphabet, Amazon, and Facebook need additional regulation.) - From a media perspective, the tech firms are up against one of the businesses that's been most disrupted. (Check out this new data showing 2 out of every 3 digital ad dollars goes to the three companies mentioned above.) - From a political perspective, tech companies have quickly morphed from superhero to villain. The left hates them because they are big and rich; the right hates them because they tilt left. The problem is that proper regulation of digital platforms will require a deft hand, and deft hands are in short supply in Washington these days. With Teddy Roosevelt in mind, politicians are calling for "trust busting"--ignoring the fact that the network effects that drive these companies' bigness also create benefits for users. A more proper approach might be to create an FCC-style regulatory apparatus that ensures the digital platforms follow certain rules to maximize consumer benefit and minimize anti-competitive effects. But crafting intelligent legislation on such a complicated topic was hard back in the days when government was quasi-functional. In today's polarized environment, it will be near impossible. That's the one thing the tech companies have going for them. Speaking of digital disruption, finance certainly seems teed up for a tumble. (Facebook is reportedly ready to announce its cryptocurrency launch this week.) That's why Fortune is holding its first-ever Brainstorm Finance, in Montauk, N.Y., Wednesday and Thursday. We'll be mixing some of the titans of traditional finance--like Citi CEO Mike Corbat, Bank of America CEO Brian Moynihan, Charles Schwab CEO Walt Bettinger , and Edward Jones CEO Penny Pennington--with some of top digital disruptors--Ripple CEO Brad Garlinghouse, Circle CEO Jeremy Allaire, Clovyr CEO Amber Baldet, and Credit Karma CEO Ken Lin. I'll be reporting from sunny Montauk starting Wednesday. And in case you missed it--the big bombshell this weekend was David Sanger's story in the New York Times saying the U.S. government has buried "digital land mines" in the Russian power grid. President Trump tweeted the story was both "fake news" and "a virtual act of Treason." It should be no surprise, as Fortune's Robert Hackett writes, that cybersecurity IPOs are attracting particular interest this year. More news below. Alan Murray @alansmurray Top NewsSouth American Blackout Speaking of power grids and cyber-stuff, an enormous blackout hit Argentina, Uruguay, Brazil, Chile and Paraguay yesterday, and Argentinian President Mauricio Macri said a cyberattack could not be ruled out as the cause. Humidity's another possible culprit. The unprecedented problem originated in Argentina's coastal transmission system--the regional grid got disconnected from all the generators at the Yacyreta hydroelectric dam. Bloomberg Crisper Boeing Boeing CEO Dennis Muilenburg says his company should have communicated more "crisply" with its customers and regulators following the fatal crashes of two of its 737 Max planes. Muilenburg regarding Boeing's safety procedures failing to spot flaws: "Clearly, we can make improvements, and we understand that and we will make those improvements." The FAA may reportedly start trials of Boeing's fixes as early as this week. Reuters Deutsche Bank The Financial Times reports that Deutsche Bank is to shrink or close its U.S. trade business and set up a so-called "bad bank" to hold or sell assets--mostly long-dated derivatives--valued at up to $56 billion after adjusting for risk. "It makes sense for us to put all these long-term, nil-revenue assets in a non-core unit," said one "senior figure at the bank." FT Huawei Hit Huawei has for the first time quantified the hit it will take from the U.S. ban on vendors selling to the Chinese telecoms giant. Founder Ren Zhenghfei said Huawei expects to lose around $30 billion in revenue over the next couple years, with overseas smartphone shipments falling by as much as 60%. Ren: "We didn't expect the U.S. would so resolutely attack Huawei. We didn't expect the U.S. would hit our supply chain in such a wide way--not only blocking the component supplies, but also our participation in international organizations." Bloomberg Around the Water CoolerP&G Wellness Procter & Gamble will try to pitch some of its most popular products, such as Crest toothpaste and Pantene shampoo, as "wellness boosters" by teaming up with Arianna Huffington's "behavioral health" firm Thrive Global. As Fortune's Sy Mukherjee writes: "Thrive's central role across the P&G portfolio will be providing what the company calls behavioral 'microsteps' in order to 'habit-stack'-i.e, build a positive, affirming mental habit into something consumers may already do every day." Fortune China Tariffs Public hearings on the Trump administration's proposed next round of tariffs on Chinese imports begin today, and the Wall Street Journal reports that many businesses have already been writing to the U.S. Trade Representative, complaining that they have no choice but to buy from China. WSJ Stock Link As of today, U.K.-listed firms will be able to also list in mainland China. The London-Shanghai Stock Connect stock link is the first to allow foreign firms to list in China. The move will allow companies in each country to raise money in the other. "Stock Connect is a groundbreaking initiative, which will deepen our global connectivity as we look outwards to new opportunities in Asia," said British Chancellor Philip Hammond. BBC Unconscious Bias Unilever had some of its marketing and ad agency staff in New York, London and Rotterdam take a DNA test and read the results, in order to test whether heritage-related revelations affected their unconscious biases. The consumer goods giant, which worked with University College London staff on the exercise, said reading the results "significantly" reduced the subjects' stereotypical thinking. CNBC This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.
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