Home / Others / Sharding, True USD launches and other custody players: this week in Crypto

Sharding, True USD launches and other custody players: this week in Crypto


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Be sure to check out our previous edition here, now let's go over what happened in the crypt this week. Also, be sure to sign up for this week's The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, YouTube or wherever you get your podcasts.

Price Watch: [19659004] Bitcoin grew 5.46% this week to $ 6,500 after a tumultuous week. On Monday, we reported that despite the price of Bitcoin being $ 6,300, the market was heading towards the low of 2018. The price continued to appreciate slowly and fluctuated between $ 6,300 and $ 6,400 on Tuesday, September 11, before falling at $ 6,200 during the day. Over the next two days, the market managed to re-establish itself at the $ 6,500 level and continued to approach $ 6,600 until Tuesday. Analysts believe these weeks have found stability at the $ 6,500 level.
  • Ethereum rose 16% this week to $ 222 after a sharp decline of 31% last week, 5% the week before and 11% 24% in the previous weeks with drops to a or two digits that go back to months. The recent falls were blamed for ICO sales. Vitalik said the 1000x growing days are gone. A statement that clarified this week as something that referred to market capitalization. This week marked a turning point as Ethereum rose by 9% on Thursday and it was said that the prices of recent weeks represented at least a "fund" . On the same day, Ethereum had appreciated almost 23% from its intraday minimum. The price continued to rise the next day by hitting $ 220, leaving the market capitalization of $ 200 billion again.
  • The entire capitalization increased by 6% this week following the rise in bitcoin prices and the double-digit earnings of Ethereum and Monero. The state of affairs led the founder of Galaxy Digital Mike Novogratz to declare that the market has bottomed out. However, not everyone is so optimistic about the alt coins, with Sonny Singh, chief commercial officer of BitPay,
  • Startup:

    • Gemini launches Crypto Smart Contract at Wide Criticism – Gemini, the exchange of cryptocurrencies founded by the Winklevoss twins, has announced the creation of a USD token Ethereum with pegging that seems to replace the tether (USDT) as the stablecoin of choice among bitcoin traders. Criticism comes from a technology publication called Good Audience in which blockchain researcher Alex Lebed has reviewed the Gemini dollar smart contract code, discovering that, contrary to ethics and the technical specifications of decentralized cryptocurrencies such as bitcoin , GUSD includes a provision that allows "Custodians" – ie Gemini – to freeze any account.
    • Brave Browser Files GDPR Complaint against Google – Brave, the web browser founded by Mozilla pioneer Brendan Eich and financed through an initial offer of coins ( ICO), fired two shots in the bow against Google. The company, whose browser blocks the intrusive and privacy-sensitive advertisements, has filed formal complaints against its much larger rival in Britain and Ireland, in hopes of triggering provisions in the recently implemented European data protection regulation . The company has removed Google as the default search engine.

    Banks:

    • Citigroup will offer cryptographic custody – According to Business Insider, sources close to Citibank have revealed that the $ 175 billion New York-based bank will offer crypto-custody solutions to institutional investors through the launch of a product called Digital Asset Receipt (DAR) that will allow institutional investors to invest in cryptocurrencies in a fully insured and regulated manner.

    Governments:

    • Expressions of the Central Bank of S.Korea Concern for & # 39; Kimchi Premium & # 39; – Officials of the Bank of Korea (BOK), the central bank of the country, have called for constant vigilance on South Korean encryption markets in an effort to keep a lid on the major cryptocurrency prizes.
    • The & # 39; BitLicense & # 39; regulator approves stable coins (including Gemini token) – In a statement published Monday, the New York Department of Finance at Services (NYDFS), creator of the "BitLicense" framework for cryptocurrency companies, has confirmed that it has granted to two companies hired, Gemini Trust Company and Paxos Trust Company, permission to start issuing these so-called "stablecoins" to customers. [19659005] Blockchain Records to be accepted as evidence in China – The Chinese People's Supreme Court declared this week that blockchain registers will now be eligible in court. According to the South China Morning Post, Internet courts that have been set up to handle Internet-related legal disputes will now be able to recognize digital data as evidence on verification using methods that include, among others, blockchain, time stamps and digital signatures. The move marks another step towards blockchain-based testing management as we have seen in the UK and in Vermont legislation.
    • The SEC interrupts the trading of & # 39; Bitcoin ETF & # 39; – The SEC announced the suspension of the temporary trading of "Swedish bitcoin ETF." on Sunday, while US markets were closed for the weekend, claiming that "there is no updated, consistent and accurate information on" the funds, Bitcoin Tracker One (OTC: CXBTF) and Ether Tracker One (CETHF), which has been quoted on the Nasdaq Nordic since 2015, but has only recently been made available to US investors through an OTC market.
    • ICOs are covered by securities laws: US judge – Judge Raymond Dearie of the District Court Eastern District of New York today ruled that US securities laws cover ICO token sales in a case against a fraudulent ICO promoter, Maksim Zaslavskiy, that prosecutors are trying to bring out the fraud charges to cheat investors of over $ 300,000 from an ICO scam called REcoin.
    • OTC Trade in Russia on the rise – According to local reports, the daily trading volume of the major cryptocurrencies like Bitcoin and Ethereum in Moscow alone can reach $ 50 million on peak days, which is relatively small compared to the main exchanges of cryptocurrencies, but great date the regulatory uncertainty in Russia. The trend closely follows a trend we have seen in China.

    Noteworthy:

    These are some particularly popular pieces this week.

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