ICYMI: Crypto Week in Review (February 3, 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.

Here’s the Week in Review:

Binance’s BitTorrent (BTT) Token Sale Finishes in Under 15 Minutes

The much-anticipated BitTorrent (BTT) token sale on the Binance Launchpad, which allowed purchases using Binance Coin (BNB) and TRON (TRX), concluded in under 15 minutes on Monday.

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.

Charlie Lee Is ‚ÄėFocused‚Äô on Making Litecoin (LTC) a Privacy Coin in 2019

The excitement surrounding privacy coins has grown in recent weeks following the sequential launches of two of the first Mimblewimble coins, Beam (BEAM) and Grin (GRIN).

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.”

Fidelity Plans to Launch Its Crypto Custody Service in March, Starting With Bitcoin

Financial services giant Fidelity Investments, which manages more than $2.6 trillion in client assets, is reportedly targeting a March launch date for its Bitcoin (BTC) custody service.

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.

Institutional Crypto Staking Startup ‚ÄėStaked‚Äô Raises $4.5 Million

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).

QuadrigaCX Owes Customers $190 Million, Court Filing Shows

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.

Wyoming Passes Bill to Recognize Cryptocurrencies as Money

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.

Winklevoss Twins Flood NYC With Gemini Advertisements

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, recently started a major advertising push in New York City.

‚ÄúOur ad campaign hit the NYC streets and sparked a thoughtful dialogue about the future of money,‚ÄĚ 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 ‚ÄėBig Four‚Äô auditing firm Deloitte.

Video of the Week:

More Headlines:

We’re Officially in the Longest Bitcoin Bear Market in History, 411 Days & Counting
Cboe Resubmits the VanEck/SolidX Bitcoin ETF Proposal for SEC Approval
Italian court forces BitGrail CEO to repay $170M in ‚Äėlost‚Äô cryptocurrency
Deconstructing ‘Decentralization’: Exploring the Core Claim of Crypto Systems
NEM Foundation Faces Bankruptcy as Its Funding Runs Dry
Hacker Who Stole $5 Million By SIM Swapping Gets 10 Years in Prison

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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