Cryptocurrency and Blockchain – Industry News – (10.04.19 – 10.11.19)

[edmundSYM]

Total Market Cap, as of 10.11.19 at 12:00pm (PST): U.S. $224,687,816,165 (+2.12%)

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STORY OF THE WEEK
• PayPal, Ebay, Stripe and Mastercard have announced their departure from the Libra Association.

CRYPTOCURRENCY TRADING SERVICES
• Changelly launches new mobile applications to support Android and iOS users.
• Coinbase releases an iOS app for Coinbase Pro.

REGULATION
•J ennifer Robertson, the widow of the founder of QuadrigaCX is returning US $12 million worth of assets as part of a voluntary settlement.
• The IRS has released a document outlining how the agency expects cryptocurrency investors to report income from their holdings.
• A Bitcoin ETF proposal submitted by Bitwise has been rejected by the U.S. Securities and Exchange Commission (SEC).
• The chairman of the Commodity Futures Trading Commission (CFTC) declares Ethereum a commodity rather then a security.
• Hong Kong’s Securities and Futures Commission (SFC) has released regulations for cryptocurrency fund managers. Virtual asset fund managers in Hong Kong must maintain liquid capital totalling HK $3 million (US $383,000) and additional variable capital.

TECHNOLOGY
• The CTO of Algo Capital, Pablo Yabo had his phone compromised which led to attackers successfully stealing US $1 to $2 million from the hot wallet holding funds belonging to the investment firm.
• Block.one has announced the 2.0 release of its open-source protocol, EOSIO.

PEOPLE
• Head of Product at the Libra Association, Simon Morris has left the firm just after 5 months of joining.

TWITTER
• @codeyisfun – “I waved to a woman because I thought she waved at me. Turns out she was waving to the guy behind me. To get out of the awkward moment I left my hand up and a taxi stopped and drove me to the airport. I am now in Antarctica starting my life over. Buy bitcoin”
• @BTC_Macro – “Imagine not buying $BTC or Altcoins at the bottom... In 2 years, the people who didn't have the balls to buy will tell us how we "just got lucky."
• @Travis_Kling – Equities are at/near all-time highs. Bonds all-time highs. Real estate all-time highs. Venture Cap/PE all-time highs. Precious metals multi-year highs. ...All made possible by QE. A compelling argument can be made that BTC is the most undervalued asset in the world today.

[adroitful_one]

Looks like the big news of the week is Libra is pretty much dead in the water. It's not really surprising considering what company is starting it. You can't really be a company that sells users data and then come out with a cryptocurrency and expect to thrive. Not to mention all of the regulations that will be required considering they're an actual legitimate company.

[hugeblack]

Regulatory aspects no longer seem to meet that acceptance.
BAKKT's news stayed away from the news.

Looks like the big news of the week is Libra is pretty much dead in the water. It's not really surprising considering what company is starting it. You can't really be a company that sells users data and then come out with a cryptocurrency and expect to thrive. Not to mention all of the regulations that will be required considering they're an actual legitimate company.

Even if libra does not see the light, it is a real start to the idea of ​​the creation of a central cryptocurrency by a coalition of companies and will not take a long time until the establishment of such currencies.
The advantages offered by such currencies are unique so it will be the competition of giant money transfer services.

[adroitful_one]

Regulatory aspects no longer seem to meet that acceptance.
BAKKT's news stayed away from the news.

Looks like the big news of the week is Libra is pretty much dead in the water. It's not really surprising considering what company is starting it. You can't really be a company that sells users data and then come out with a cryptocurrency and expect to thrive. Not to mention all of the regulations that will be required considering they're an actual legitimate company.

Even if libra does not see the light, it is a real start to the idea of ​​the creation of a central cryptocurrency by a coalition of companies and will not take a long time until the establishment of such currencies.
The advantages offered by such currencies are unique so it will be the competition of giant money transfer services.

I'm fairly certain they only made it to give people the opportunity to send money to people through Facebook Messenger. I don't really have a need for that. All of my friends that I would want to send crypto to all have multiple currency wallet addresses and even Paypal accounts with Paypal debit cards tied to them. So, if I really needed to get some money to someone in another state, I would just send it for free through Paypal(I've done it many times). I just don't see the interest in it from people. First of all, it's a centralized currency and the people in control of it are Facebook, no thank you.

[Harlot]

Just after the Libra coin was announced a lot of news not favoring them are showing up from left to right. Now we don't know what exactly is the reason why this credit card and payment processing companies are pulling out  so this might just be a contract or agreement issue but the headline itself will just send a really bad image overall for Facebook's project. Aside from that their head of product also pulled out of the project but like I said we don't know the full story here so I might still wait for some updates before seeing if Libra will be a failed project for Facebook. Mark Zuckerberg might start to think on another new plan if he really wants to join the cryptocurrency game because with governments, countries, and even companies are not favoring him this only tells that they don't like the idea of Facebook having its own cryptocurrency at all.