Industry Watch 9 April, 2018

Nami | Daily Crypto News 09.04.2018

Copied to clipboard
Copied to clipboard

The Bussiness Time: Soros planning to trade cryptocurrencies

Soros called cryptocurrencies a bubble in January. Now his US$26 billion family office is planning to trade digital assets. Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter.

Coin Telagraph: Rockefeller’s VC Arm Venrock Partners With Coinfund, Exec Highlights Focus On Long Term

Venrock, the official venture capital arm of the Rockefeller family, has partnered with crypto investment group Coinfund to support cryptocurrency and Blockchain business innovation, Fortune reported April 6.

Coin Telagraph: Three More Countries Join Planned Lawsuit Against Internet Giants For Banning Crypto Ads

The plans to file the joint lawsuit against tech giants Google, Twitter, and Facebook were first revealed on March 27. The organizations originally filing the complaint include the Russian Association of Cryptocurrency and Blockchain (RACIB), the Korea Venture Business Associations, and LCBT, a Chinese association of crypto investors. Cryptocurrency and Blockchain organizations in Switzerland, Kazakhstan, and Armenia have recently also joined.

Coin Telagraph: Monex’s Coincheck Vs Mt. Gox: Can Traditional Finance Save A Hacked Crypto Exchange?

Coincheck has set out to change the example that Mt. Gox set back in 2014, forging a new framework for “what to do” in the aftermath of a hack of around half of a billion dollars in cryptocurrency. The traditional markets’ positive response to the news of the acquisition of Coincheck by a otherwise traditional financial services provider may be a vital piece of the puzzle for building legitimacy for a hacked crypto exchange.

Channel Asia News retail in Asia: Dubai cryptocurrency firm denies Alibaba trademark infringement

A Dubai-based cryptocurrency company called Alibabacoin Foundation has rebuffed allegations of trademark infringement brought against it by the giant Chinese online retailer Alibaba Group Holding in a U.S. lawsuit last week.

Coin Telagraph: Petition To Reverse Indian Central Bank’s Crypto Ban Gains 17,000 Signatures

According to the petition, the Reserve Bank of India’s (RBI) April 5 ban – which tech investor Tim Draper had recently called “a huge mistake” – could lead to an increase of irregular cash trading of cryptocurrencies in India. In addition, the ban could take away potential revenue to the government from crypto exchanges, and instigate a crypto market price drop “due to the knee jerk reaction in which prices got impacted”.

Financial Times: Celebrities warned over risk of cryptocurrency endorsements

While the SEC stopped short of naming the celebrity promoters in their statement, it noted their involvement — an unusual move because they are not defendants in the case. Experts said celebrities who have endorsed ICOs could now face legal action from regulators, as well as investors who believe they have been scammed.

Coin Telagraph: BCH-Promoting Twitter Account @Bitcoin Suspended, Internet Debates ‘Death Of Free Speech’

In a Twitter-based continuation of the Bitcoin (BTC) vs Bitcoin Cash (BCH) debate, the BCH-promoting Twitter handle, @Bitcoin, has been suspended by Twitter, seemingly due to a large number of complaints from Twitter users – likely Bitcoin supporters – Sunday, April 8.

Bottom lines:

 

  • SEC’s warning and Twitter’s ban, endorsing cryptocurrency must be more cautious
  • Though calling cryptocurrencies a bubble, Soros has indirectly supported it
  • It seems like government will struggle if they go against civil’s will

 

___

Disclaimer. This article/email is for informational purposes and should not be considered investment advice. Statements and financial information on Nami web/email and Nami related sites do not necessarily reflect the opinion of Nami and should not be construed as an endorsement or recommendation to buy, sell or hold.

While we aim at providing you all important information that we could obtain that may include certain information taken from exchanges and other sources from around the world, readers should do their own research before taking any actions and carry full responsibility for their decisions.Trading and investing in digital assets like cryptocurrencies is highly speculative and comes with many risks. Past performance is not necessarily indicative of future results.

Nami may provide links to third-party websites, including social networking websites. Since we do not control third-party sites and are not responsible for any information you may provide while on such sites, we encourage you to read the privacy policies on those websites before providing any of your information on such sites.

%d bloggers like this: