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[Kerelley]

News of the cryptocurrency market:

The CEO of a crypto firm that recently settled with the SEC over its 2017 ICO is suing T-Mobile over a series of SIM-swaps that resulted in the loss of $8.7 million worth of crypto.

According to filings published on July 22, the chief executive of crypto company Veritaseum, was first targeted by SIM-swappers during July 2017. Despite immediately reporting the incident to T-Mobile, Middleton claims to have been the victim of four successful SIM-swaps over the rest of 2017, and further attacks during 2018 and 2019.

Gibraltar Finance, the business development arm of Gibraltar’s government, will provide support to the forthcoming Post-COVID Hackathon.

Gibraltar Finance has been announced as an official partner of the upcoming Post-COVID Hackathon — a global, online initiative intended to create open-source solutions addressing the health, social and economic challenges posed by the post-COVID-19 era. The event is expected to see participation from hundreds of teams internationally building in the distributed ledger technology (DLT) sector, with over 200 industry experts slated to assist participants.

As real estate security tokens grow in popularity, tZERO has partnered with Aspen Digital to support trade in a five-star resort-backed token.

Leading security token exchange tZERO has partnered with Aspen Digital Inc. to enable trade for Aspen’s digital security. The ‘ASPEN’ token, previously dubbed ‘Aspen Coin’, represents $18 million worth of indirect ownership in the St. Regis Aspen Resort — a five-star, 179-room hotel situated in Colorado. ASPEN’s listing on tZERO comes as the popularity of real estate tokens continues to show steady growth.


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[Kerelley]

News of the cryptocurrency market:

Brave Browser takes the security and privacy of iPhones and iPads to the next level by partnering with Guardian, provider of VPN and Firewall services.

July 27, Brave Software partners with Guardian to bring greater levels of security and privacy to the iPhone and iPad users. This partnership will combine the privacy stack of the two companies — Brave’s privacy focused browser with Guardian’s VPN and firewall service. The iOS users of Brave Browser will be able with one click to turn on Brave Firewall + VPN that will protect the entire device from privacy intruding trackers.

China’s Blockchain-based Service Network (BSN) will be integrating with some of the most well-known public blockchains over the next 12 months.

He Yifan, CEO of Red Date Technology, the private company behind the BSN, told Cointelegraph that the network aims to integrate with 30–40 public blockchain networks by June 2021. In the following year, it will further integrate more blockchains to purportedly double that number. Launched in April, BSN is China’s first government-backed blockchain initiative that was initially positioned to help small to medium-size businesses and entrepreneurs build and deploy blockchain applications on permissioned blockchains. It has since registered 6,000 enterprises and individuals on the network.

Registered by Swiss crypto investment manager FiCAS, the new Bitcoin Capital Active ETP trades crypto without direct investor involvement.

Swiss SIX Exchange, one of the world’s largest stock exchanges, is listing a new cryptocurrency exchange-traded product, or ETP. Dubbed the “Bitcoin Capital Active ETP,” the new trading product represents an actively managed crypto ETP, trading Bitcoin (BTC) against 14 top altcoins like Ether (ETH) and exiting to fiat without active involvement from investors. Claimed to be the world’s first actively managed crypto ETP, the new product is now listed on SIX Exchange under index BTCA.


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[Kerelley]

News of the cryptocurrency market:

Bakkt breaks another record with more than 11,700 Bitcoin futures contracts traded on Tuesday.

Intercontinental Exchange subsidiary, Bakkt, is reporting record numbers of trades for its monthly Bitcoin futures contracts as BTC prices made a new high for the year. The institutional investing platform reported its highest ever figure for Bitcoin monthly futures on Jul. 28 with 11,506 contracts — an increase of 85% over the previous record. The move followed a surge in the underlying asset’s price to a 2020 high of $11,400.

New York investment bank Goldman Sachs is raising its price target for gold while sounding the alarm about risks to the U.S. dollar.

In a note to clients Tuesday, the bank reaffirmed its position of gold being "the currency of last resort" amid uncertain economic conditions, raising its price target for gold to $2,300 per ounce after a surge to record levels earlier this week. The bank tied the metal's rally to a "potential shift in the U.S. Fed towards an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty and a second wave of Covid-19 related infection."

Hackers have transferred roughly $38.7M out of $1.3B worth of Bitcoin from wallets connected to the infamous 2016 hack of crypto exchange Bitfinex.

Some of the 119,756 Bitcoin that was stolen from crypto exchange Bitfinex in 2016 has started moving again. According to a series of tweets posted by Whale Alert on July 27-28, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 3503 Bitcoin (BTC) — worth roughly $38.7 million — over 12 transactions. The largest individual movement was of 476.32 BTC, or approximately $5.2 million, while the smallest was 2.612703 BTC, or $28,849.


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[Kerelley]

News of the cryptocurrency market:

In a letter to investors released on July 29, Pantera Capital CEO Dan Morehead noted that the United States has printed a shocking amount of money to combat the pandemic-induced financial crisis.

“The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.” Morehead made it clear that Pantera Capital sees Bitcoin as the solution for the current crisis. He also contrasted the effects of money printing in recent months, to how the equivalent amount of currency had performed across centuries.

Despite early hype, real estate tokenization has failed to garner significant momentum, leading some to question its future viability.

As the initial coin offering (ICO) boom subsided and the 2018 crypto bear trend began to set in, many analysts predicted that security tokens may drive the next market cycle — with the vast capital locked in the real estate sector being eyed hungrily for tokenization. However, with the Bitcoin halving, Ethereum 2.0, and the emergence of DeFi capturing the imagination of crypto markets recently, real estate tokenization is no longer the flavor of the month, and some are questioning its viability.

US GDP dropped a mammoth 32.9% in Q2, sharply contrasting with a cryptocurrency market that grew over the same timeframe.

The gross domestic product of the United States just had its worst quarter-to-quarter drop in history. But the economic slump hasn’t had an adverse effect on Bitcoin crypto. According to the US Department of Commerce’s Q2 report, US GDP fell 32.9% in Q2, the worst quarter-to-quarter change in the country’s history. The second worst plunge came in 1921, when GDP fell some 28%. For comparison, the most drastic hit to GDP during The Great Recession was in the ballpark of 8%.


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[Kerelley]

News of the cryptocurrency market:

Tesla and Bitcoin price surged higher after recovering from a sharp correction, leading analysts to take a closer look at the BTC to S&P 500 correlation.

On Sept. 9 the price of Tesla stock surged 10.92% after undergoing a 21% plunge earlier in the day. Coincidentally, the price of Bitcoin (BTC) also soared by nearly 5% in the past 24 hours. In the past several days, the correlation between Bitcoin and stocks has increased once again. Data from Skew shows the 1-month correlation between Bitcoin and the S&P 500 surged from 18% to around 55%.

The Committee on Energy and Commerce has just approved two pieces of legislation to spur more in-depth analysis of blockchain technology in government, clearing the way for their vote in the House of Representatives.

In an online debate moderated by Chamber of Digital Commerce founder Perianne Boring on Sept. 9, Democratic Representative of Florida’s 9th District Darren Soto announced that after “nearly two years of pushing,” the Committee on Energy and Commerce had passed the Digital Taxonomy Act. In addition, the committee approved the American COMPETE Act. Both pieces of legislation will now go to the main floor of the U.S. House of Representatives for a vote.

Revolut, a major European cryptocurrency-friendly trading application is expanding to another major market.

The London-based firm has launched its digital banking app in Japan, as Revolut announced in a Sept. 8 tweet. According to a report by The Nikkei, Japan is the first non-English speaking market for Revolut. Headquartered in London, the company reportedly has 13 million users worldwide, operating in European countries, the United States, Australia and Singapore.


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[Kerelley]

News of the cryptocurrency market:

Bakkt Bitcoin futures smashes daily volume record by 36%. Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi.

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%.

Yam is gearing up for its V3 release later this week after undergoing a security audit from PeckShield.

Decentralized finance (DeFi) protocol Yam Finance is relaunching on September 18. Yam Finance V2, a fork of Compound (COMP) featuring a native token with an elastic supply, burst onto the DeFi scene last month — garnering more than half a billion in assets from yield farmers within 24 hours of launching. However, the unaudited V2 of Yam Finance came to a dramatic conclusion when a catastrophic bug caused excessive reserves to be minted which rendered it impossible for governance to be executed.

DeFi could fall under regulatory pressure if it is seen as a haven for money laundering.

The rapid growth in decentralized finance and yield farming is likely to attract greater regulatory attention according to a recent report. A joint research paper by global management consulting firm BCG Platinion and Crypto.com has indicated that the rapid growth in DeFi in 2020 has created the potential for money laundering which will bring it under the radar of regulatory authorities. Since the beginning of the year, the dollar value of crypto collateral locked across DeFi platforms has increased over 1200% to reach $9 billion according to data provider DeFi Pulse.


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