Industry Watch 12 April, 2018

Nami | Daily Crypto News 12.04.2018

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CNBC News: Crypto hedge fund known for eye-popping early returns lost nearly 50 percent last month

Crypto hedge fund Pantera Capital saw the value of its Digital Asset Fund cut nearly in half in March, according to an investor letter published Tuesday. For March alone, the cryptocurrency fund was down 45.7 percent. “We’re in a market with around 100 percent annualized volatility and this month was the worst month in our model’s 27-month history,” says Joey Krug, co-chief investment officer of Pantera Capital.

 

Bloomberg: JPMorgan Sued Over Cash Advance Fees for Cryptocurrency Purchases

JPMorgan Chase & Co. was sued for charging “sky-high” interest rates and fees to customers who used their credit cards to buy cryptocurrencies such as Bitcoin.

 

SCMP: Ripple invests US$25 million worth of its own cryptocurrency into a blockchain-focused fund

Blockchain firm Ripple, whose digital currency has seen huge volatility in recent months, is investing in a US$150 million blockchain-focused fund.

 

Coin Desk: Bank of England Eyes Private Blockchain Oversight

The Bank of England, the U.K.’s central banking authority, is developing a proof-of-concept (PoC) examining how to maintain privacy over a distributed ledger-based network while still allowing a regulatory overview of the data.

 

Coin Telagraph: 22 Countries Sign Declaration For European Blockchain Partnership

The European Commission’s (EC) Digital Day 2018 has led to the signing of a Declaration to create a European Blockchain Partnership made of up 22 countries, according to an April 10 European Commission press release.

 

Global times: Taobao expands cryptocurrency ban

Taobao.com, the online shopping site under Alibaba Group Holding, on Tuesday updated its rules barring sales of goods and services related to cryptocurrencies.

 

Coin Desk: Search Giant Baidu Unveils Blockchain Stock Photo Platform

Baidu, China’s internet search giant, has launched a blockchain-based stock photo service in bid to protect image intellectual property in China, as part of its wider push for blockchain technology adoption.

 

Coin Telagraph: Philippines’ SEC Demands Crypto Cloud Mining Contracts To Be Registered As Securities

The Philippines Securities and Exchange Commission (SEC) issued an advisory on Cryptocurrency Cloud Mining Contracts that applies the Howey Test to classify these contracts as securities, the SEC outlined April 10.

 

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