Weekly, May 14-18 ’18

Centra Tech's founders are sentenced to jail, Marc O’Brien joined Crypterium, ETF is launhed, Jack Dorsey’s opinion, Binance adds TrueUSD, China published its crypto rating, electricity consumption, Sberbank used Hyperledger Fabric blockchain, Microsoft joins the crypto ban, JP Morgan talks about crypto, Wozniak supports blockchain, ETH futures, Taihuttu still holds BTC, IBM’s token, crypto education in France

  • The three co-founders of Centra Tech Sorhab Sharma, Raymond Trapani, and Robert Farkas were found guilty and sentenced to jail. They are looking at a total of 65 years in prison, based on the charges. They are guilty of committing fraud and selling unregistered tokens to investors.
  • Marc O’Brien, one of the best experts in payments system in UK, former Visa UK CEO, joined Crypterium — the mobile crypto bank startup. Marc will lead the launch of Crypterium App that will let its users pay with cryptocurrencies with the same ease and convenience as with cash or credit cards
  • Brian Kelly, the founder of BKCM, the investment company, specialized in cryptocurrencies, has launched a new crypto ETF. This traded fund, called the REX BKCM ETF, will include the stocks of 33 companies which attempt to generate revenue from cryptocurrency- and blockchain-related projects. Now it holds the stocks of the Taiwan Semiconductor Manufacturing, Global Unichip, GMO Internet, Overstock.com and SVB Financial Group, each with an 8 percent weighting.
  • Jack Dorsey, CEO of Twitter, is pretty sure the Internet will have its own native currency, and he hopes Bitcoin will become such a currency. Thus he encouraged everyone to buy Bitcoin and to help make it happen. Earlier he declared that he’s a huge fan of Bitcoin. He was one of the early Bitcoin investors and took part in funding Lightning Labs.
  • Binance adds a new stablecoin, TrueUSD. It's more compliant to regulations than Tether, and the company that issues TUSD tokens, publishes the audits of their bank accounts each month.
  • China published its own crypto rating. In this rating, all cryptocurrencies have their own score, based on three sub-indices, technology, application, and innovation.
  • Ethereum has the highest score, thanks to solid technology score, its chinese rival, NEO, is in top 4. Bitcoin is placed in the 13th position.
  • By the end of this year, Bitcoin mining will be using 0.5% of the world’s total electricity. Now it uses as much power as Ireland does, approximately 2.55 gigawatts, and its power consumption could rise to 7.7 gigawatts of electricity by the year's end. Experts are bothered, is it worth it.
  • The largest bank in Russia, Sberbank, has successfully used Hyperledger Fabric blockchain to make a first transaction of a commercial bond. It was fast and secure, compared to a traditional way of making such deals. Soon this technology could replace the old way the bonds were transacted.
  • Microsoft joins the crypto ban, started by Google and Facebook. It released the statement that all crypto ads will be banned from Bing search engine by July 2018. The reason behind the ban is the unclear state of current regulation. Thus Microsoft tries to mitigate risks for its Bing users.
  • JP Morgan starts to look into crypto space, despite its CEO's previous comments.
  • The bank’s co-president, Daniel Pinto, stated in a recent interview, that the technology will play the role, but now the space seems to be too immature yet. Also he remarked that JP Morgan could do any crypto-related activity, including clearing futures, if needed.
  • Apple’s co-founder, Steve Wozniak, called blockchain ‘a great idea’ and the next major IT revolution that is about to happen. He also said that blockchain technology will reach its full potential in 10 years.
  • CME Group wants to review customer demand for Ethereum future contracts before actually launching the products. On Monday it has published the tracking prices for ETH, which are taken from Kraken and Bitstamp exchanges. Tim McCourt, CME’s head of equity products, said that there are no plans to launch ETH futures yet. Bitcoin futures are seeing lower demand than it was anticipated, so it must be a clear understanding that the market need a new crypto-based product.
  • Didi Taihuttu, the man who sold all his family’s belongings for Bitcoin, still holds it. As he bought it between February and September 2017, he’s still in profit. He says he believes in Bitcoin and will hold it until 2020. He thinks that in 2020 there won’t be any need to exchange his cryptocurrencies for fiat.
  • IBM is going to launch its first token on the Stellar’s platform. It is going to be a first corporate token ever issued. This “verde” token is a result of the partnership between IBM and Veridium Labs, and it’s designed to support the growth of Indonesian rainforests to counteract the carbon-damage done by environmentally-damaging industries. Every bought token will support a patch of rain forest.
  • Bruno Le Maire, the French Finance Minister, says that blockchain and crypto space has his total and determined support. It took him a year, but now he fully understands its importance and he’s ready to educate his French citizens what blockchain is.

BTC

8,744 USD
-5.52%

ETH

272.72 USD
-8.76%

XLM

0.1406 USD
-6.07%

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How To Tell If Your Bitcoin Trading Platform Is Safe

Bitcoin trading, and the whole cryptocurrency market, in general, has become so popular since it first came to birth a decade ago. While many remain skeptical about Bitcoins, there is also no denying the fact that it enjoys so much popularity, with many more wanting to get their hands on this form of trade. Bitcoin, in essence, is a form of digital currency, which allows you to perform almost any kind of transaction online. However, as effective and popular as Bitcoins may be, you also cannot discount the fact that Bitcoin trading is with very little to no government regulation at all. Hence, you might easily fall into the hands of fraudsters and scammers. If you aren’t prudent enough, you are only going to lose your hard-earned investments rather than enjoy earning from it. 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