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"They have to figure their own shit out."

Those were the harsh words of one of EOS' top "block producers" – the network participants in charge of maintaining the blockchain – on Monday as the world's fifth largest cryptocurrency attracted public ridicule for its current state of confusion.

As told to CoinDesk by Kevin Rose, co-founder and head of strategy at EOS New York, the statement could reflect the broader snags the software has faced since release, but this comment was focused specifically on the EOS Core Arbitration Forum (ECAF).

So far, it seems many both inside and outside the EOS community aren't clear what ECAF, the main body tasked with resolving disputes between token holders on the network, is and what control it has over transactions.

That's largely because ECAF's role and duties were discussed back and forth over months of forum discussions, but clear methods and processes don't seem to have been decided on. It's become apparent over the past few days that this mess of information now needs to be organized and clearly communicated to the community.
https://www.coindesk.com/eos-arbitrator-problem-crypto-governance-breakdown-explained/

SolarisBank aims to become the banker for the cryptocurrency industry

Germany's solarisBank is setting up a 'Blockchain Factory' to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology.

https://www.finextra.com/newsarticle/32321/solarisbank-aims-to-become-the-banker-for-the-cryptocurrency-industry/vcurrency

Coinbase Founder Makes Big Announcement

Yesterday, the founder and CEO of cryptocurrency exchange Coinbase – Brian Armstrong, has announced the start of a new project named Givecrypto.org.

https://cryptodaily.co.uk/2018/06/coinbase-founder-makes-big-announcement/

The founder the world’s second-biggest cryptocurrency has claimed US intelligence services may have played a role in the creation of Bitcoin. Vitalik Buterin, the Russian-born creator of Ethereum, suggested the National Security Agency (NSA) was involved in the development of the virtual currency.

THE EFFICIENCY OF THE MARKETS IN CRYPTO-CURRENCIES

Three scholars affiliated with Johns Hopkins have evaluated cryptocurrency investing, in a new paper available at SSRN, and have concluded that “near-term cryptocurrency markets are semi-strong form efficient.”

http://www.allaboutalpha.com/blog/2018/06/28/the-efficiency-of-the-markets-in-crypto-currencies/

Coinbase, Billionaire Peter Thiel Back New ‘Reserve’ Stablecoin
Coinbase and Silicon Valley investor Peter Thiel are among over 40 groups, funds, and angel investors backing the latest addition to the cryptocurrency ecosystem’s stablecoin arsenal, a new stable token called Reserve, which closed $5 million in its first round of funding

The stablecoin, which is pegged 1:1 to the value of USD, is in the developmental stages with a team composed of 20 people including Google and OpenAI veterans and an advisory relationship with Patomak Global Advisors, led by former SEC Commissioner Paul Atkins.

The team cites competing with failing fiat currencies as a project goal, identifying 16 countries where rapid deflation causes a significant loss of value and prevents people from saving effectively.

Price instability in the cryptocurrency space is often referred to as one of the main elements preventing widespread adoption. While volatility is attractive for traders seeking to capitalize on major price swings, cryptocurrency is not seen as an effective medium to store value, pay for goods and services, or offer typical financial services such as credit loans.
https://www.ccn.com/coinbase-billionaire-peter-thiel-back-new-reserve-stablecoin/

Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely

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Yukio Noguchi, a famous economist in Japan and an advisor to Waseda University’s Business and Finance Research Center argues we can’t expect Bitcoin’s prices to rapidly surge again. In his books and in recent articles, Noguchi makes his case eloquently. He wrote a recent article in Diamond Weekly clarifying his position but has been making his case since January of this year and published a book last December.

https://news.bitcoin.com/japanese-economist-explains-why-another-bitcoin-price-surge-is-unlikely/

Crypto Coin Tether Defies Logic on Kraken’s Market, Raising Red Flags

In the traditional world of securities exchanges, it would be akin to defying gravity. But at Kraken, one of the most popular venues for trading cryptocurrencies, a coin called Tether does it again and again.

https://www.bloomberg.com/graphics/2018-tether-kraken-trades/?srnd=cryptocurriences

Malta approves three blockchain bills at second reading

The Maltese Parliament has unanimously approved three blockchain bills as the island looks to establish itself as a cryptocurrency hub.

https://www.hedgeweek.com/2018/06/29/265872/malta-approves-three-blockchain-bills-second-reading

Bitcoin’s bubble under pressure as other cryptocurrencies go to zero

Bitcoin’s meteoric rise last year had many observers calling it one of the biggest speculative manias in history. The cryptocurrency’s 2018 crash may help cement its place in the bubble record books.

https://www.thestar.com/business/markets/2018/06/29/bitcoins-bubble-under-pressure-as-other-cryptocurrencies-go-to-zero.html

Supreme Court Will Not Reconsider Ross Ulbricht’s Life Sentence

On June 28, 2018, the US Supreme Court revealed it would not re-evaluate Ross Ulbricht’s court case and double life sentence tied to his charges of operating the Silk Road marketplace. Ulbricht’s legal team and family were hoping the recent Carpenter Vs. US Supreme Court case would spur court officials to reconsider the Ulbricht’s conviction. However, Supreme Court officials didn’t see eye to eye with this reasoning and denied Ulbricht’s cert petition.

https://news.bitcoin.com/supreme-court-will-not-reconsider-ross-ulbrichts-life-sentence/

SEC Mulls Unconventional Bitcoin ETF Application
The U.S. Securities and Exchange Commission (SEC) has formally issued a call for public comment on yet another proposal to list a bitcoin ETF (exchange-traded fund) on a regulated exchange.

VanEck, SolidX Partner to Create Physically-Backed Bitcoin ETF
This development came in response to a proposal, submitted by Chicago-based derivatives exchange CBOE, to list and trade shares of SolidX Bitcoin Shares, which itself has been issued by the VanEck SolidX Bitcoin Trust.

CBOE was the first US exchange to list bitcoin futures products, and executives have indicated that they intend for the platform to continue to lead in the nascent cryptocurrency derivatives industry.

According to the filing documents, the trust will invest directly in physical bitcoin — not bitcoin futures — and each share will “represent a fractional undivided beneficial interest in the trust’s net assets.”

More from the filing:

“The Trust intends to achieve this objective by investing substantially all of its assets in bitcoin traded primarily in the over-the-counter (“OTC”) markets, though the Trust may also invest in bitcoin traded on domestic and international bitcoin exchanges, depending on liquidity and otherwise at the Trust’s discretion. The Trust is not actively managed. It does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of bitcoin.”
https://www.ccn.com/sec-mulls-unconventional-bitcoin-etf-application/

Zcash Governance Panel Votes Against Prioritizing ASIC Resistance
https://www.ccn.com/zcash-governance-panel-votes-against-prioritizing-asic-resistance/

Bitcoin Will Go Up Again Based On This Technical Signal

It has been an eventful 2018 for the cryptocurrency market, and Bitcoin especially. The top-ranked cryptocurrency has declined steadily throughout the year dropping nearly 70 percent of its mid-December 2017 high of $19,500. In June 2018, BTC has had a tumultuous time of it, dipping and rising several times. The number one cryptocurrency even set a new 2018 low by dropping below $6,000 twice. However, despite these difficulties, it appears there is hope on the horizon for BTC bulls.

https://ethereumworldnews.com/bitcoin-will-go-up-again-based-on-this-technical-signal/

VeChain Thor Blockchain Launches, Token Swap to Take Place Mid-July
VeChain has officially launched its main network and the first block has been mined successfully.
VeChain Thor is a blockchain platform aimed at driving enterprise businesses to use blockchain solutions.
The main network launch was preceded by deploying the first authority master node. VeChain utilizes a Proof-of-Authority consensus algorithm, in which approved validators mine blocks to produce faster transaction speeds compared to other blockchains. Although critics have expressed concerns of centralization, VeChain believes that this mechanism would be optimal for businesses by providing them with a better-performing network.
VeChain is also a dual token system consisting of VeChain Token (VET) and VeThor Token (THOR). Network users are rewarded with the latter when they hold the former, which is also the case with NEO & GAS. The VeChain Token can be used to deploy applications on the platform where as VeThor can be used to pay for applications and other transactions over the network. VeChain claims that this economic model is better suited for enterprises than the one in other blockchains, such as Ethereum and Bitcoin, where higher usage drives the cost of the utility token and subsequently the cost of deploying and operations in the protocol.

https://www.ccn.com/vechain-thor-blockchain-launches-token-swap-to-take-place-mid-july/

Tezos Network Launches Following Months of Delays, Off-Chain Controversy

In an official blog post, the Tezos Foundation announced that the betanet is live.

Tezos is a smart contract platform which raised $232 million in its initial coin offering (ICO) in July 2017, making it the largest token sale at that time. The platform boasts an on-chain governance model and formal verification for smart contracts. After a year of active development, several class action lawsuits, and multiple delays Tezos has finally launched successfully.

“The future of Tezos rests in the hands of its community. This moment marks an inflection point for the project, and we are excited to support community developers, scientists, validators (“bakers”), and enthusiasts from all over the world as they drive the success of this innovative, decentralized network.”

In an exclusive statement to CCN, Ryan Jesperson, president of the Tezos Foundation stated:

“From the outset, the code base underpinning the Tezos protocol has been engineered with security in mind. Although no system can be completely secure, every system can be continuously improved towards that goal — fixing bugs, maintaining and adjusting the code base, and integrating additional functionality are several actions that may be taken while the betanet is live.”
https://www.ccn.com/tezos-network-launches-following-months-of-delays-off-chain-controversy/

Digital currency exchange Coinbase shuttered GDAX on June 29th and transitioned to Coinbase Pro. The new interface is marketed as an upgrade but has received a lot of initial criticism.
https://bitcoinist.com/new-coinbase-pro-platform-off-to-a-rocky-start-amid-flurry-of-criticism/

Chinese-owned cryptocurrency exchange BTCC has formally announced the relaunch of its platform while hinting it will launch an internal token.
https://bitcoinist.com/btcc-relaunch-suggests-exchange-will-create-binance-style-token/

One Coin to Rule Them All: Cryptocurrency With a Single Coin
Roll Eyes

If you think you’ve seen it all, creativity-wise, in the crypto world, there is always that one project that surfaces, seemingly just to surprise you. This time, it is OneSingleCoin, a cryptocurrency that decided letting many tokens into circulation is so last year, and only have one coin, like the name implies.[/

https://cryptonews.com/news/one-coin-to-rule-them-all-cryptocurrency-with-a-single-coin-2074.htm