ICYMI: Crypto Week in Review (February 24, 2019)

Voyager
Voyager

Each Sunday, we breakdown the most important news from the past week for¬†SludgeFeed Premium members with key takeaways you might’ve missed.

Top Headlines This Week:

Japanese Tech Giant Recruit Reveals Investment in Privacy Coin Beam (BEAM)

Recruit, the owner of Indeed.com, announced this week that it has completed an investment in Beam Development Limited, the company behind Beam (BEAM).

Recent Filing Reveals Bitmain Lost $500 Million in Q3 2018

The financials at crypto mining giant Bitmain aren’t looking too pretty according to an updated filing with the Hong Kong Stock Exchange that shows the company lost about $500 million in the third quarter of 2018.

According to a report by CoinDesk that cites the non-public filing, Bitmain earned roughly $500 million in the first 9 months of 2019 with over $3 billion in revenue.

$8 Billion Coinbase Faces Backlash for Latest Acquisition

Coinbase announced Tuesday that it has acquired Neutrino, a blockchain intelligence platform, for an undisclosed amount.

Neutrino’s CEO, Giancarlo Russo, formerly worked as Chief Operating Officer for HackingTeam, the government security contractor that was famously hacked in 2015. Documents leaked by the HackingTeam attackers showed that the company willingly aided repressive governments including Saudi Arabia, who wanted to buy the company.

This has prompted a significant backlash from the crypto community, as many see this as a serious risk to user security and privacy.

Bitbond Receives German Regulatory Approval for Its STO

Bitbond, a Stellar-based blockchain startup that provides business loans, announced this week that it has gained German regulatory approval to conduct a security token offering (STO).

According to the¬†announcement, Germany‚Äôs Federal Financial Supervisory Authority, better known as BaFin, has approved Bitbond’s plea under the German Banking Act to become a licensed asset broker, making Bitbond the first blockchain-based financial services company to be regulated under the body.

Liechtenstein-Based Bank Frick Announces Institutional Cryptocurrency Trading Platform

A family-run bank in Liechtenstein announced that it intends to launch an institutional cryptocurrency trading platform subsidiary. The financial institution, Bank Frick, intends to use the subsidiary to “build on its pioneering role in the area of blockchain banking.”

ShapeShift Launches the Closed Beta for Its Revamped Exchange Platform

ShapeShift CEO Erik Voorhees revealed at ETHDenver that the company is planning a major rebranding effort that will revamp its platform, which started with a closed beta of a new exchange on Monday.

Fidelity Passes the Torch in the Lightning Network Trust Chain

Fidelity’s Digital Asset team joined the ongoing Lightning Network Trust Chain, a community-driven initiative started by¬†hodlonaut.

Video of the Week:

This year I'm hosting a series of discussions on the future of technology and society. Here's the first one with Harvard Law Professor Jonathan Zittrain.I joined his seminar and we covered topics including information fiduciaries, encryption, decentralized services, governance, fighting misinformation, different business models, privacy innovation, and future research areas.I found his ideas fascinating. We spoke for almost two hours and still only got through about a third of what we hoped to discuss. I'm looking forward to continuing this series soon and covering more topics beyond the internet.

Posted by Mark Zuckerberg on Wednesday, February 20, 2019

Market Moves:

Bitcoin (BTC) Price Surges Above $4,100 as the February Rally Continues
Fakeout: Crypto Market Pulls Back Sharply as Bitcoin (BTC) Drops to $3,800
Litecoin (LTC) Leaves Its 200-Day Moving Average in the Dust

More Headlines:

Developer Afri Schoedon on His Contentious Split From Ethereum
NEO Founder: Blockchain Will Develop in Layers Like the Internet
43% of Millennial Traders Trust Crypto Exchanges More Than Stock Exchanges
Loom Network (LOOM) Launches PlasmaChain Staking
Study: Metcalfe’s Law May Apply to Bitcoin Only in the Long Term
A Primer on Bitcoin Investor Sentiment and Changes in Saving Behavior
Zcash Company Rebrands to the Electric Coin Company
Upcoming Blockchain RPG Neon District Drops Its First Gameplay Teaser
Pantera Capital Has Raised the Majority of Its Third Crypto Venture Fund
Fortnite Mastermind Tim Sweeney Defends EOS Blockchain Bloat
Reddit Co-Founder Says the Bear Market Has Been Healthy for the Crypto Industry
Mythical Games Releases New EOS-Based Digital Asset Standard: dGoods

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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