📈🚨We start off with a market highlight as all of the top 50 alt currencies along with bitcoin have been showing solid green growth in the 10–20% range on Sunday. There are plentiful theories on what might be causing this surge, but the fear of missing out on another bull-run seems to be setting in. There are reports that there were $130 million in shorts that were liquidated on Bitmex which could be the main reason for the rapid rally. Exciting times are upon us, but as always, use caution!
https://cointelegraph.com/news/bitcoin-hits-highest-price-point-in-over-a-year-pushing-toward-9-000
😳📉Next we have some bad news following the hard fork of bitcoin cash (BCH) on May 15 as reports of a double spend of 3,392 coins were reportedly printed. This news was released by the research arm of the Bitmex exchange comes in light of three interrelated issues. The first issue being a bug that an attacker exploited allowing them to “broadcast transactions which met the mempool validity at consensus checks”; this resulted in miners attempting to produce empty blocks. Lastly, the chain split prevented the system meant to recover funds accidentally sent to SegWit addresses from functioning. It will be interesting to see what develops as we watch this story.
https://cointelegraph.com/news/bch-may-have-sustained-13-million-double-spend-bitmex-research
🤔🤓In a podcast on Monday E-cash inventor David Chaum spoke about what he believes to be blockchain’s “killer app.” Chaum who invented a secure, privacy preserving digital currency in 1982 spoke about awareness around privacy and digital sovereignty in the modern era has been paving the way for blockchain to make massive breakthroughs and achieve mass adoption. Chaum likened these messages to WeChat, the Chinese messaging giant, and what Facebook is turning into.
🚀✊Korea’s oldest bank (Shinhan Bank) has launched a blockchain-enabled lending platform to speed up the lending platform’s efficiency. The project is the first of its kind in the Korean peninsula and marks another important steppingstone in innovation and adoption. Specifically the system applies blockchain to the verification and confirmation processes within the network of affiliated banks. This is our favorite kind of information to hear!
https://cointelegraph.com/news/koreas-oldest-bank-launches-national-blockchain-based-loan-platform
📊🤷As tensions continue to linger between the USA and China, the stock market continues to struggle to find an even-keel. In one of the more volatile periods of the stock market political forces should continue to rock the boat until a clear relationship is formed between the world’s two largest economies. It could be years from now until we truly understand the implications of a US-China trade war, but it continues to hamper larger growth in traditional stocks.
https://www.ccn.com/dow-futures-wobble-memorial-day-economic-data-scrutiny
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