ICYMI: Crypto Week in Review (February 3, 2019)
Each Sunday, we breakdown the most important news from the past week for SludgeFeed Premium members with key takeaways you might’ve missed.
Here’s the Week in Review:
According to the announcement, 1 BTT was priced at 0.00001824 BNB or 0.00447261 TRX, meaning that 1 BNB could buy 54,824.56 BTT, while 1 TRX could buy 223.58 BTT.
BTT’s trading volume surged the first day it was available for trading on Binance.
This interest could soon hit new levels after a tweet this week by Litecoin (LTC) founder Charlie Lee revealed the altcoin is now focused on adopting Confidential Transactions for enhanced fungibility.
Lee recently clarified further, stating, “Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a soft fork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blocks.”
According to a report published on Tuesday by Bloomberg, which cites several individuals familiar with the matter, Bitcoin custody will be the first of many crypto products made available for large investors like hedge funds. The insiders indicated that Ethereum (ETH) custody is expected to be next.
Staked, a New York-based startup that helps institutional investors stake or lend their holdings in proof-of-stake cryptocurrencies, announced Thursday the closing of a $4.5 million seed round led by Pantera Capital.
According to the announcement, Staked provides the secure infrastructure required for staking and the company’s services currently support 6 cryptocurrencies including Tezos (XTZ), Dash (DASH), Decred (DCR), Livepeer (LPT), Factom (FCT), and EOS (EOS).
Troubled Canadian crypto exchange QuadrigaCX owes its customers $190 million and cannot access most of the funds, according to a court filing obtained by CoinDesk.
In a sworn affidavit filed Jan. 31 with the Nova Scotia Supreme Court, Jennifer Robertson, identified as the widow of QuadrigaCX founder Gerald Cotten, said the exchange owes its customers roughly $250 million CAD ($190 million) in both cryptocurrency and fiat. The company previously announced it had filed for creditor protection on its website, but the filing itself provides greater details about its predicament.
In the United States, the state of Wyoming passed a bill that will allow for cryptocurrencies to be recognized as money on January 31, according to the state legislature website.
As reported by Cointelegraph earlier this month, the bill will place crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. Any digital assets that fall into those three categories will be defined as intangible personal property, granting virtual currencies the same treatment as fiat money.
“Our ad campaign hit the NYC streets and sparked a thoughtful dialogue about the future of money,” Gemini said in a recent announcement. “We believe the crypto revolution has the potential to solve meaningful, real-world problems that no other technology can, but only a thoughtful, rule-based approach will get us there.”
This messaging makes sense, as Gemini recently announced that it passed a security compliance review conducted by ‘Big Four’ auditing firm Deloitte.
Video of the Week:
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.