Hodler & # 39; s Digest, April 1-7: Top Stories, Price Movements, Quotations and FUD of the Week

9 min read

Top stories this week

PayPal invests in Digital Identity-Focuschain Blockchain Startup in Apparent First

Worldwide online payment agency PayPal has invested in the launch of Cambridge Blockchain, a company that focuses on using the technology to give users more control over their digital identity. The investment, the amount of which is not specified, is part of an extension to a financing round of the A series raised an initial $ 7 million in May 2018. The United States Securities and Exchange Commission (SEC) has stated that since May 2018 Cambridge Blockchain has raised a total of $ 3.5 million in new shares. Cambridge Blockchain has mainly joined major players such as Microsoft, IBM, Mastercard and Accenture to work together under the canopy of a non-profit organization called the Decentralized Identity Foundation.

SEC Staff Publish Framework to determine whether digital assets are investment contracts

Employees of the US SEC have published a framework that can help market participants find out if a digital asset is considered an investment contract and therefore a collateral. The framework is not a rule, regulation or statement of the American Commission, but is the work of two of the SEC commissioners: Bill Hinman, director of the SEC Corporation Finance division and Valerie Szczepanik, senior adviser on digital assets and innovation – also known as the "crypto czar." The framework focuses on the economic reality of the transaction itself and "the nature of the instrument offered on the market by the terms of the offer, the distribution plan and the economic incentives that it offers."

Coinbase is expanding to cross-border payments

Large American crypto-exchange and Coinbase wallet stated this week that it has been extended to cross-border payments. The development of the entity means that Coinbase customers can now transfer money to any other user with a Coinbase account worldwide use of both (XRP) and the stablecoin USDCoin (USDC) of the exchange at no cost. Coinbase also made news again this week when it announced that the insurance coverage for its hot wallet cryptographic needs covers a limit of $ 255 million through an intermediary registered by Lloyd & # 39; s of London. According to Coinbase's chief information security officer, reporting is aimed at protecting theft through hacking, a scenario with a high risk for consumers.

Pakistan's central bank aims to issue its own digital currency by 2025

Jameel Ahmad, deputy governor of the State Bank of Pakistan (SBP) said this week that the institution plans to issue their own digital currency by 2025. A statement was made during a speech about the launch of Electronic Money Institutions , when Ahmad noticed that the central bank is already working on their central bank digital currency (CBDC) as a way to promote financial inclusion and efficiency and to fight corruption. According to Ahmad, the CBDC will not be deployed until 2030. As previously reported, Pakistan is implementing new cryptocurrency rules in an effort to improve its track record in the fight against financial crime.

Bloomberg: the recent Renaissance of Bitcoin can be linked to algorithmic trading

Bloomberg reported this week that the recent leap of the cryptocurrency market could be linked to algorithmic trading. The trading method uses automated software to detect trends and determine when transactions should be executed, and Bloomberg states that the industry has seen 17 new algo or quantitative funds launched since September. According to Bloomberg data, in the past crypto-winter, algo funds reported gains of between 3 and 10% per month, while crypto funds lost around 72% in total over the same time.

Winners and losers

Winners and losers

Crypto markets are still trading high at the end of the week, with Bitcoin at $ 5,158, Ethereum at $ 168 and Ripple at $ 0.36. The total market capitalization is approximately $ 180 billion.

The top three altcoin gainers of the week are EZOOW, Cryptrust and Luna Coin. The top three altcoin losers of the week are Sharpe Platform Token, Guaranteed Ethurance Token and dietbitcoin.

For more information about crypto prices, read the market analysis of Cointelegraph.

Most memorable quotes

"In today's economy there is less and less time to build trust in the way it happened in the past. To fight cancer, balance sustainable energy, trace the authenticity of goods, actors need to be able to trust each other without meeting each other personally. And how can we achieve this? Of course with the help of blockchain. "

Mariya Gabriel, European Commissioner for Digital Economy and Society

"All the indications we have – whether it is fundamentals, technicals, the quantitative analysis we do – all suggest that we probably at least started using the soil process."

Brian Kelly, founder and CEO of BKCM LLC, a digital currency investing company

"As soon as there is news about it (CBDC issue), the people in crypto get excited and say, see it get into the mainstream (…) but if you look closely at what they want to do, if and when they are going do it , it will not be a blockchain, it will not be a crypto (…) it will be on a single ledger, secured. "

Nouriel Roubini, American economist and notorious crypto criticism

"Shorts are being wound up, there are short squeezes, more people have jumped on the hype and many news media are always looking for a trigger to cause big drops and big rises. I would say that more than half of the time just trying to get news match with something that it is not necessarily necessary that there is news. & # 39;

Tone Vays, Bitcoin analyst

"We are ready to reach ten thousand times their capacity."

Andreas Antonopoulos, crypto entrepreneur, talks about existing payment systems such as Visa and MasterCard

"Blockchain has the potential to virtually exclude the loss, falsification or falsification of vital log data in all aviation sectors where certificates are issued and checked."

Dr. Olumuyiwa Benard Aliu, President of the United Nations Specialized Aviation Agency

Forecast of the week

Brian Kelly says that Next Target for Bitcoin is $ 6,000 with Crypto Markets Bottoming

Brian Kelly, founder and CEO of BKCM LLC, a digital currency investing company, has predicted that the next target price of Bitcoin will be $ 6,000. Kelly said so in an interview with CNBC $ 6,000 was a reasonable price, his comments came in the wake of this week's price rise that Bitcoin's price rose by more than 15 percent and reached more than $ 5,000 for the first time since November 2018. Kelly put forward the idea that the influx of institutional investors is one of the reasons behind the price revival.

FUD of the week

Ernst & Young disputes that Crypto Exchange QuadrigaCX should go into bankruptcy

Big Four accounting firm Ernst & Young (EY), which works with the now-lost Canadian crypto-exchange QuadrigaCX, said this week that the exchange must be placed in bankruptcy instead of being restructured. The stock exchange had gone through legal proceedings because it was reportedly lost in December 2018 following the unexpected death of its founder, Gerald Cotten, in his cold-credit portfolio. In the new EY report, they propose to shift the current restructuring process to an alternative bankruptcy process. The benefits of switching to procedures under the BIA, the report states, include the fact that bankruptcy "would enable potential asset sales, including but not limited to Quadriga's operating platform."

Research: Ethereum-based prediction Market Augur is currently facing a draft deficit attack

Ethereum-based (ETH) forecast market Augur currently has a design error attack, according to research by crypto-exchange Binance. The attack mentioned in the report concerns a controversial market that bets on the price of ETH at the end of March, but has a discrepancy over the actual end time of the contract versus the title. According to the research, this discrepancy can lead to the contract being considered invalid, sharing the contributions to give back to users one third of their value. Binance notes that this mistake can be exploited by bad actors: an executive from Augur has already said that the next Augur upgrade will work on a solution.

Canadian police freeze assets of FUEL Token issuers due to suspected $ 22 million fraud

The Canadian police have frozen the assets of the founders of blockchain consultancy Vanbex, which raised $ 22 million in a so-called fraudulent first-currency offer (ICO). According to documents from the Canadian court, the founders of Vanbex, Kevin Hobbs and Lisa Cheng, a shell company that did not develop useful products and had used the money in the ICO for real estate and cars. The founder of Vanbex Cheng told Cointelegraph in a statement that the company "knows for certain that false claims from a former contractor have created files at various government agencies" as part of its denial of the allegations of the Canadian courts.

Best Cointelegraph functions

A guilty verdict, impatient creditors and a relivable movement: Mt. Gox Saga goes further

The 2011 Mt. Gox hack remains the biggest hack for cryptocurrency of all time. In the light of the recent guilty verdict for Mark Karpeles, the former CEO of the defunct exchanges, Cointelegraph looks at how much has changed (and not changed) in the aftermath of those affected by Mt. Ganaarx.

& # 39; Free & # 39; money: how students hijack my cryptocurrency in their dorms

Cointelegraph investigates the recently published phenomenon of college students who allegedly mines cryptocurrencies in their rooms. Who pays the bills? How much money can they actually earn? Cointelegraph answers these questions and more.

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Don Bradman

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