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Although the price of Bitcoin has stumbled, the fundamental developments in the cryptic industry have remained strong during the second week of 2019. New York has opened the so-called "Blockchain Center", allegedly financed by Microsoft, Ripple has reached a Key milestone and Bloomberg argues that the Japanese regulatory authorities could give the go-ahead to a fund traded Bitcoin (ETF) in the future.
Crypto Tidbits
- New York opens Blockchain Center: In a noticeable pro-crypto move, the New York City Economic Development Corporation, a non-profit organization focused on strengthening the Big Apple's economy, and a number of partners have launched the so-called "Blockchain" Center. " This 4,000-square-foot center, located in the iconic Flatiron District of the metropolis, will offer everyone, from programmers, blockchain engineers, common Joes the opportunity to learn about general accounting technologies and cryptography for a membership fee. currently not subject to costs. The Blockchain Center has been funded in part by the municipal government and an anonymous series of business partners (it is said that Microsoft has paid money).
- Ripples: 200 milestones of the institutional client: For the most part, the crypto crash of 2018 has killed the momentum of the avant-gardes of the sector, many of which have had to slow down operations in recent months. However, Ripple XRP-friendly, the fintech company based in San Francisco, is doing just fine and dandy. On Tuesday, the company revealed that it had just hired 13 institutional clients, who come from Canada to Kuwait. With this addition, RippleNet, the company's self-proclaimed "frictionless experience" focused on cross-border payments, now facilitates global processes for over 200 customers. In a statement, Brad Garlinghouse, managing director of Ripple, explained that his company continues to register "two – sometimes three – new customers per week".
- Ethereum Classic Chain Attacked, $ 1 Million In ETC Double spent: On Monday, a prominent blog post from Coinbase emerged that revealed that the Ethereum Classic blockchain was probably in danger. Mark Nesbitt, a company security engineer, revealed that he and his collaborators discovered a series of "deep chain reorganizations" (reorg) on the network. After further analysis, Nesbitt determined that a mass of ETCs had been spent, and Coinbase was forced to close down trading for the popular cryptographic resource. Nesbitt discovered for the first time that the value of $ 450,000 of ETC has been spent twice, but new reports indicate that the sum could amount to over $ 1 million in value. This debacle elicited a strong response from the XRP community.
- Bloomberg: Japan can approve a Bitcoin ETF: Bloomberg reports, citing those familiar with the issue, revealed that the Financial Services Agency (FSA) of Japan, the equivalent of the nation's Securities and Exchange Commission (SEC), could be open to the public. approval of an application for Bitcoin ETFs if proposed. If the FSA finds sufficient demand for an encrypted ETF, the sources argue that this new regulatory position will be mentioned in the coming months, with updated rules in place during 2020.
- Preliminary Bitcoin ETF Application for Bitwise Files: A few days after the news of Japan, Bitwise Asset Management, a cryptographic services company led by the fervent leader Hunter Horsley, submitted an initial statement of registration to the SEC. The legal document outlined a physically supported Bitcoin ETF proposal, which will be listed on the New York Stock Exchange if approved. The new Bitwise enterprise, appropriately named Bitwise Bitcoin ETF, will follow the company's internal Bitcoin Total Return index, which allegedly "captures the full value of an investment in BTC". In a statement by the company, the project leaders said that its product is unlike others proposed, as it should repress the problems of the SEC commissioners.
- The movement of the French yellow jersey organizes a bank race: During the last week, preliminary reports indicated that the movement of Yellow Vest (Gilet Jaune) of France started organizing a bank run. An organizer, bearing the surname Maxime, turned to a number of social media channels to tell his colleagues Vests to withdraw all the capital from French banks. Although no report has indicated whether this apparent bank run has started, many cryptocurrency fans have rushed to use the narrative. Interestingly, at the same time the demand for a bank run was propagated, the French corner corners started selling Bitcoin coupons for Euros.
- ShapeShift cuts the third of the staff: ShapeShift, the company behind ShapeShift Exchange, KeepKey, CoinCap and other facets, recently revealed that it has fired a substantial portion of its staff. Through a medium post by Erik Voorhees, nicknamed "the last Bitcoin gunman" in Forbes, it was revealed that the company, based in the Crypto Valley in Switzerland, would leave a third of its employees – 37 reported. Voorhees revealed that this purge was a byproduct of "ShapeShift's biggest and worst financial decision" – to "embrace" the significant exposure to crypto in an apparent attempt to keep the skin in play. This news comes only a few weeks after the publication of some reports that Bitmain, Huobi and ConsenSys had similar problems.
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