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U.S. Government Opens Criminal Investigation into BTC Price Manipulation
Source: Bloomberg
The U.S. government has launched a criminal probe into whether traders are manipulating the price of BTC and other digital currencies via methods such as spoofing and wash trading. It is unclear whether the investigation will be targeting users or exchanges, whose cooperation the government would likely need in order to catch fraudulent activity. Questions also remain as to how concerned users of cryptocurrency exchanges should be about the potential of shutdowns. BTC continued its decline in the wake of this news.
Coinbase Acquires Paradex
Source: CoinDesk
The trading platform Paradex is being acquired by Coinbase, who cited Paradex’s peer-to-peer system as a significant step forward in their move towards a decentralized platform. Paradex will be integrated into the company’s new product, Coinbase Pro (covered below) over the coming weeks, Currently, Paradex is only available to users outside the U.S., but Coinbase says it is “actively working toward” clearing regulatory requirements. Paradex allows trading of ERC20 tokens built with 0x. And speaking of…
0x Project Pumps 46% After Leaked Twitter Announcement
Source: Medium
0x project (ZRX) rose sharply in price just prior to the Paradex announcement, after Twitter user @CryptoChattr tweeted a rumor that Coinbase would be making a “major announcement” and implicated 0x. The official tweet from Coinbase announcing the acquisition made no mention of the 0x project, but users were quick to connect the dots.
Announcement: Coinbase Pro
Source: GDAX
Coinbase announced yesterday an overhaul of its trading platform GDAX, to be replaced by new product Coinbase Pro. The recently acquired Paradex will be integrated into the new platform over the coming weeks. GDAX will remain available (with user activity mirrored on the new platform) until June 29th, 2018, when all users will be rolled over to Coinbase Pro. According to Coinbase, current GDAX users can log into the new platform and instantly see their existing balances and account information.
Delta Responds to ‘Random Portfolio’ Confusion
Source: Twitter
ICO Delta issued a statement yesterday via Twitter in response to user reports of ‘random portfolios’ being displayed to them. Delta confirmed that it was in fact a test portfolio created and maintained by their development team and that there had been no data breach or loss. They also confirmed that all data in the dummy portfolio had been hardcoded, leading to some interesting behind-the-scenes insights about the dev team’s sense of humor.
New Listings: STEEM & Stratis (Bithumb)
Source: Twitter
Trading opened yesterday on Bithumb for both STEEM (STEEM) and Stratis (STRAT).
Major Japanese Company Plans to Launch Cryptocurrency Exchange This Year
Source: CoinTelegraph
Money Forward Inc, a platform with over 5.5 million reported users, announced today that it plans to open its own crypto asset exchange by the end of the year. This is the latest announcement in a continuing trend within the Japanese industrial sector to facilitate entry and growth of the nation’s cryptocurrency markets.
Korbit Announces Multiple De-Listings
Source: AmbCrypto
Korbit, South Korea’s largest cryptocurrency exchange, announced that it would de-list Dash (DASH), Monero (XMR), Zcash (ZEC), Augur (REP), and Steem (STEEM). Users will be able to buy these assets until May 28, 2018, with final termination of selling activity scheduled for June 21, 2018.
BTC Gold Respond to Attacks
Source: BTC Gold
BTC Gold acknowledged experiencing recent “51% attacks” on their blockchain in order to facilitate double-spending attacks on exchanges, with the last known attempt May 19, 2018. In response, many exchanges have increased confirmation requirements or even closed their wallets. BTC Gold stated that their planned change to the Proof-of-Work algorithm would drastically reduce the feasibility of 51% attacks, and says it plans to fork to the new network as soon as possible.
Announcement: Digi-ID
Source: YouTube
DigiByte developers announced Digi-ID, a digital identification protocol built on blockchain technology that will require only a single authentication method (e.g. PIN or fingerprint). DigiByte says the technology can be embedded on websites with minimal effort and can eliminate the need for usernames and passwords. Digi-ID is a free service.
Singapore Central Bank Proposes Regulatory Changes to Facilitate Entry to Decentralized Exchanges
Source: AlexTones
The Monetary Authority of Singapore (MAS) has proposed amending the existing regulatory framework governing access into the market, claiming that it can no longer accommodate business models based on new technologies. They propose a three-level structure alternative to the current one-level framework, essentially easing the regulatory requirements for smaller business to enter the digital asset market.
Zimbabwe High Court Lifts Cryptocurrency Ban
Source: Pindula
The High Court of Zimbabwe lifted a ban imposed on cryptocurrency exchange Golix by the Reserve Bank of the nation. The Court ruled against RBZ by default after it failed to appear to defend its actions.
Partnership: Microsoft & SunContract
Source: Medium
SunContract, a peer-to-peer electricity retail system, will utilize Microsoft’s Azure Blockchain Workbench technology to host their platform. SunContract will also look to leverage Microsoft’s global reach to help expand their market.
John McAfee Joins BTC Private
Source: Twitter
Announced on his personal Twitter account.
Fake Satoshi Sighting!
Source: YouTube
Self-proclaimed BTC creator Craig Wright was spotted recently in Africa, telling Rwanda, “I’ve got more money than your whole country” while also explaining that “rare Earth metals are ‘rare’ Earth metals because they’re rare.” Most of his speech appears improvised.
Tom Lee Remains Bullish on BTC
Source: CNBC
Despite recent declines, Tom Lee claims he still firmly believes that the price of BTC will not only rebound, but eventually grow to hit $25,000. Blaming the current slump on “total crypto volatility,” Lee cited historical trend data collected by his company, Fundstrat, which he says indicate favorability towards holding.
ETH Block Size Exceeds 1 TB: A Risk Analysis
Source: Medium
Medium user StopAndDecrypt posted a lengthy account of what he sees as a real risk to the future of the Ethereum network. Despite the title, he doesn’t believe that the block size is the central issue, but rather that the rate of growth exceeds the pace of hardware innovation to keep up with the demands of such growth. Fewer people able to participate in validation means fewer nodes will be available. He argues that this is not a case of if but when, and encourages users of all types to switch to a “good blockchain.”
NEO Releases Statement on ‘Storage Injection Vulnerability’
Source: NEO
According to NEO, a recent audit exposed a vulnerability in the code of some NEP-5 smart contracts, which allowed for potential alterations to smart contract storage. A user burning a certain amount of tokens could result in unexpected changed to the totalSupply of the contract. NEO stated that the amount will only appear to change; the actual supply volume is unaffected, and the cost of such an attack would be so high as to minimize risk from this vulnerability.