Pivot to Blockchain Saves Iced-Tea Maker From Nasdaq Delisting
Lily Katz - Bloomberg (subscription)
For years, the owners of an unprofitable iced-tea company watched their stock tumble. Last month, they saw it almost triple in a day after a simple name change, and the timing couldn’t have been more convenient. Long Island Iced Tea Corp., changed its name on Long Blockchain Corp., and its market capitalization soared to almost $70 million. It has stayed above the $35 million threshold since then.
FAO: Unfortunately, as you might know, this wasn’t the only case. Former makers of juice, sports bras and sofas also renamed their companies and their shares soared. This is getting dangerous...I bet SEC is already working on regulating cases like this.
Cryptocurrency May Be Getting Quietly Channelled To North Korea University
Joyce Lee - Reuters
Cybersecurity company AlienVault said it has found software that appears to install code for mining cryptocurrency and sends any mined coins to a server at a North Korean university, the latest sign that North Korea may be searching for new ways to infuse its economy with cash.
FAO: Hmmm, don’t want to think what these guys are doing in those North Korean university dorms...Hopefully this has nothing to do with the case below...
CEO Of Porn Cryptocurrency Disappears With Investor Money
Kevin Dugan - New York Post
A cryptocurrency built for watching live-streaming porn is turning out to be a buzzkill.
Four investors in the digital currency, called Fantasy Market, claimed last week that its shadowy CEO disappeared with their money — and has not refunded all their investment despite repeated requests.
DNT: Did anyone have any other expectations? Oh, it seems so...At least four “investors”...
FAO: This para made my day: “Four investors in the digital currency, called Fantasy Market, claimed last week that its shadowy CEO disappeared with their money — and has not refunded all their investment despite repeated requests.” Oh boy, we had some repeated sessions of good laugh in our office...
Deals, Investments & M&As
Seagate, Western Union Surge On Speculation Of Stakes In Ripple
Lily Katz - Bloomberg (subscription)
First it was Western Union investors who got ripple fever. Now its stockholders of Seagate Technology Plc who are cashing in on speculation that the firm has ties to one of the hottest digital coins.
FAO: “Ripple fever” you say? Better treat that with some cold wallets...
*More content in this section on our Blockchain Daily News website.
Cryptocurrencies
Telegram Plans Multi-Billion Dollar ICO For Chat Cryptocurrency
Mike Butcher - TechCrunch
Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond. According to multiple sources, the “Telegram Open Network” will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way.
FAO: Is there anybody else left to wonder why Facebook’s Mark Zuckerberg has recently declared he plans to study encryption and the blockchain and “see how best to use them in our services” - more yesterday.
Ethereum Co-Creator Steven Nerayoff Says The Cryptocurrency's Value Could Triple In 2018
Chloe Aiello - CNBC
Ether Tops Ripple To Reclaim Second Spot In Crypto Rankings
Kailey Leinz - Bloomberg (subscription)
Ether has reclaimed the title of the world’s second-largest cryptocurrency by market value. Ripple had a short-lived stint after surging past the digital coin for the ethereum network 10 days ago, but has slipped in the rankings after falling more than 14%. The decline was initially spurred by an announcement last week that Coinbase Inc. wouldn’t list any new coins such as ripple on its online exchange.
*More content in this section on our Blockchain Daily News website.
Exchanges & Trading Venues
South Korea Inspects Six Banks Over Virtual Currency Services To Clients
Christine Kim & Dahee Kim - Reuters
South Korean financial authorities said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.
FAO: Looks like these banks just couldn’t resist the temptation...
Indian Banks Are Choking Bitcoin Exchanges By Blocking Payments And Withdrawals
Nupur Anand - Quartz
The splash of 2017 may turn into a fight for survival for bitcoin this year in India.
As the country’s cryptocurrency exchanges deal with the manic rush, banks have become a stumbling block. Possibly taking cue from the uneasiness shared by the Reserve Bank of India and the Narendra Modi government, some of the lenders are no longer comfortable with virtual currencies. This has led to issues with deposits and withdrawals.
FAO: In a nebulous regulatory framework these kinds of actions can get really messy. Lawyers need a new source of revenue too, right?
SEC Says Bitcoin Futures Trading Not Against Rules
Wichit Chantanu & Sorn Siri & online reporters - Bangkok Post
The Securities and Exchange Commission of Thailand has said the country’s first bitcoin futures trading service offered by a securities company is not against rules but urged investors to apply caution due to high risks.
FAO: There you go, another change in our
Crypto-Teams BDN Global Outlook
Team “Pro”: Japan, Hong Kong, Singapore, Australia, United Arab Emirates, Bahrain, Cambodia, Kazakhstan, Catalonia, Argentina, Gibraltar, Malta, Belarus, Moldova, Thailand (new entry)
Team “Against”: China, India, Russia, Malaysia, South Korea, Indonesia, Lebanon, Taiwan, Israel
Team “Neutral”: EU, USA, Canada
*More content in this section on our Blockchain Daily News website.
BitPeople
Via CoinDesk - Andrea Tinianow, the founding director of the Delaware Blockchain Initiative has left the project.
Latest Developments & Agreements
New 'Insane' ETF Proposal For Bitcoin Generates Worry On Wall Street
Jeff Cox - CNBC
Direxion Asset Management is looking to launch five bitcoin ETFs that seek up to double the moves of the cryptocurrencies daily futures trading.
Fund Managers Say Bitcoin ETF Proposals Withdrawn Due To SEC Concern
Trevor Hunnicutt - Reuters
Two U.S. companies shelved proposals to launch bitcoin exchange-traded funds, citing ongoing concerns by the Securities and Exchange Commission filings. Trusts controlled by Rafferty Asset Management and Exchange Traded Concepts each canceled plans to launch three bitcoin funds that could be traded by retail investors as easily as stocks. Neither firm could be reached for comment.
FAO: A matter of time...just give it some space...
Regulation
Bitcoin Is An Asset, Not A Currency: Israel's Central Bank
Steven Scheer - Reuters
Israel's central bank said it would not recognize virtual currencies such as bitcoin as actual currency and that it was difficult to devise regulations to monitor the risks of such activity to the country's banks and their clients.
*More content in this section on our Blockchain Daily News website.
Analysis
Ten Cryptocurrency Predictions For 2018 From The Co-founder Of The Blockchain Research Institute
Don Tapscott - Quartz
2018 will be the year where the tremendous innovation and promise of blockchain must become real.
FAO: Today’s must-read.
*More content in this section on our Blockchain Daily News website.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News
Read more by Soren K.Group
