ICYMI: Crypto Week in Review (February 24, 2019)
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:
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.
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, 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’s 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.
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.”
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
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.