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.


8,744 USD


272.72 USD


0.1406 USD

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Shocker: In 2009, Hal Finney Estimated Bitcoin To One Day Reach $10 Million

For a long time, there have been lots of people coming up with their own predictions in regard to the future price of Bitcoin. People like Tim Draper and Tom Lee has estimated Bitcoin to hit above $100k in the coming years. They’ve also predicted that Bitcoin will soon achieve mass adoption and attract more institutional investment. However, there’s one person who seems to have lived way ahead of his time. His name is Harold Thomas Finney. In a now-viral screenshot of his posts from way back in 2009, Hal Finney seems to have had great optimism about the future of Bitcoin. Just a week after the Bitcoin network went live in January 3rd, 2009, Hal Finney predicted that the crypto would one day be valued at a cool $10 million apiece. You think bitcoin twitter is bullish? Hal Finney (@halfin), was calculating a bitcoin price of $10,000,000 per coin just ONE WEEK after the the genesis block on January 3rd, 2009. Absolute legend. pic.twitter.com/5MptLhEYHL — Dr. Bitcoin, M.D. (@DrBitcoinMD) August 23, 2019 Introducing The “Finney” One of the contributors in the tweet sought to kick-start a move to name 10,000 Satoshis a ”Finney.” Of course, this move can easily succeed if more effort is put to popularize it, and many people would get on board especially given Hal Finney’s respected status within the Bitcoin community.  Could He Be The Creator? Many have argued that Hal Finney could be the mysterious Satoshi Nakamoto, the creator of Bitcoin. In fact, one of the contributors on the thread claimed that Finney is Satoshi. The user argued that Finney must have had the idea about Bitcoin way longer than a week before he made his prediction.  Indeed, from a logical point of view, it’s hard to believe that someone who knew about Bitcoin for no longer than a week after its introduction could have known so much about it and even have the audacity to make predictions running into decades. Was Harold Finney really Satoshi? The post Shocker: In 2009, Hal Finney Estimated Bitcoin To One Day Reach $10 Million appeared first on ZyCrypto.

United States Intensifies Bitcoin Address Analysis in Opioid Fight

The U.S. Treasury Department is stepping up its focus on illegal cryptocurrency-related activities. Recently, Treasury announced that its financial intelligence and enforcement agencies are collecting and analyzing Bitcoin addresses. These addresses are associated with several “Chinese kingpins” allegedly involved in “fueling America’s deadly opioid crisis.” OFAC Adds BTC Addresses to the Specially Designated Nationals list On August 21, 2019, Treasury’s Office of Foreign Assets Control (OFAC) and Treasury’s Financial Crimes Enforcement Network (FinCEN) announced their coordinated actions to step up “financial pressure upon those who manufacture, sell, or distribute synthetic opioids or their precursor chemicals.” Treasury targets Chinese drug kingpins fueling America’s deadly opioid crisis https://t.co/lJRdfr7hF4 — Treasury Department (@USTreasury) August 21, 2019 These actions are components of investigations being carried out “to confront the deadly synthetic opioid crisis plaguing America.” According to OFAC, under these investigations are the following “Chinese drug kingpins,” – Fujing Zheng (Zheng) and the Zheng Drug Trafficking Organization (DTO). – Guanghua Zheng – Qinsheng Pharmaceutical Co. Ltd. – Xiaobing Yan (Yan) In this connection, on August 21, 2019, OFAC announced it had added 11 Bitcoin addresses and one Litecoin address to the Specially Designated Nationals (SDNs) list. Therefore, no U.S. individual can execute any transaction involving these addresses. The SDNs list includes targeted individuals and companies. Their assets are blocked. And it is illegal for U.S. persons to deal with them. FinCEN: Chinese Kingpins Use Bitcoin To Bypass Currency Controls At the announcement, Sigal Mandelker, Under Secretary for Terrorism and Financial Intelligence, stated, “The Chinese kingpins that OFAC designated today run an international drug trafficking operation that manufactures and sells lethal narcotics, directly contributing to the crisis of opioid addiction, overdoses, and death in the United States.” According to U.S. officials, the Zheng DTO used Bitcoin to launder part of its drug proceeds and to bypass currency controls and reporting requirements. Moreover, authorities pointed out that both Zheng and Yan are Bitcoin users. Therefore, “OFAC is also identifying Bitcoin addresses associated with these two drug traffickers to maximize disruption of their financial dealings.” FinCEN Director Kenneth A. Blanco indicated that, through the Bank Secrecy Act, FinCEN is collecting, analyzing, and disseminating data, which provides insight into the financial networks used by individuals “fueling America’s deadly opioid crisis.” And he pointed out, “We are making the financial sector aware of tactics and typologies behind illicit schemes to launder the proceeds of these fatal drug sales, including transactions using digital currency and foreign bank accounts.” How effective do you think the U.S. Treasury Department’s investigations will be? Let us know in the comments below! Images via Shutterstock, Twitter: @USTreasury The post United States Intensifies Bitcoin Address Analysis in Opioid Fight appeared first on Bitcoinist.com.

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