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The future of crypto investing
24.01.2019
January 24th – Weekly Crypto Digest
ANDREW LEE
@alee
Cboe pulls application for VanEck & SolidX bitcoin ETF. VanEck founder says they plan to refile but can’t answer many of the SEC’s questions until the government re-opens. – Link

RSK’s RIF trades -51.1% in BTC terms below private sale price of 1BTC:14,000 RIF. Private sale contributors will receive a 20% bonus on Feb 9, 5% on May 9 and 5% on Aug 9 if tokens are unmoved from original private sale wallet. RSK raised 22K BTC. – Link

Novogratz’s Galaxy Digital is raising a $250M for a credit fund that will give loans in U.S. dollars to crypto firms, Business Insider reports. The loans will be backed by collateral such as crypto tokens, crypto mining devices and property. – Link

Anchorage, which raised $17M Series A from A16Z, Khosla, Max Levchin, Naval and others, launches a custodial service “that is more secure than cold storage, but has the benefits of keeping the assets accessible.” Anchorage aims to serve institutional investors who want to keep assets accessible as well. – Link

Messari founder Ryan Selkis publishes “96 Theses for Crypto in 2019”: – Link
• “Open finance (lending, derivatives) will become the primary use case for Ethereum. Most other dApps (gaming, distributed storage, attention markets) will move to competing blockchains that are optimized for single uses.”
• “A legitimate game development team will build an NFT app that gets more DAUs than any other dapp.”
• Digital resource tokens for storage & computing is a 5-year trend, not a 2019 trend; they will fuel Web 3.0.

Monetary Authority of Singapore (MAS) is currently drafting a bill that gives clear guidance and regulatory framework for crypto exchanges, according to Singapore’s Deputy Prime Minister and Minister-in-Charge of MAS. – Link

Binance will airdrop BitTorrent tokens to Tron holders on Feb 11. BitTorrent creator Bram Cohen clarifies he was never affiliated with Justin Sun or Tron. After Tron acquired BitTorrent, a former exec said there’s “no way the transaction capacity of Tron would [work]”, and “it’s very clear that Justin is very strong at marketing. He has a very nice personality from a marketing point of view. He doesn’t have a technical bone in his body.” – Link

ERC-1155 token standard, which is being worked on by the EnjinHorizon Games team, aims to help game devs create tokens for game assets by allowing an unlimited number of digital assets to be stored in a single contract. – Link

L4 Ventures Co-Founder Josh Stark publishes “The Year in Ethereum,” and highlights major milestones for Ethereum in 2018 including Layer 2 Scaling, decentralized finance, zero knowledge technology & ETH 2.0 roadmap. – Link

Leaked Samsung Galaxy S10 images reveal plans for a native cryptocurrency wallet app. – Link

Oracle solution Chainlink grew 67% in price in the last 30 days ($178M market cap), despite the overall crypto market cap declining 12% in the same period. In addition to several marketing events and appearances, Chainlink also was reported be a Coinbase listing candidate. – Link

Nebulas, which raised $60M in its token sale, cuts staff from 80 to 30 people. – Link

Entourage actor Kevin Connolly announces plans to direct television pilot for a show called “Cryptos.” – Link

MyCrypto discovers a malicious Chrome extension on the Chrome store that steals crypto even by working around 2FA. The extension stole at least 23BTC. – Link

Symbiont, which helps exchanges move financial instruments to blockchain such as loans and streamline mortgage bond markets, raises $20M Series B round led by Nasdaq, bringing its total funding to date to $35M. – Link

Eric Meltzer of Primitive explains why Grin caught the community’s interest: no premine, no founder’s reward, no investors, no ICO, a mostly pseudonymous founding team & scalability benefits of MimbleWimble. Grin price fell from $8.32 on Jan 17 to $4.00 today with $3.8M in daily volume, according to Coingecko.com. Kucoin listed Grin today. – Link

LApps is growing a terminology to describe the use of Lightning Network’s fast payment channel inside applications. For example, micropayments in games or micropayments for content. – Link

SEC charges 7 hackers who broke into SEC databases to steal nonpublic earnings announcements. The scheme netted at least $4.1M for the hackers. – Link

Privacy preserving computation protocol Origo launches 2 privacy-centric decentralized application samples, including a secret-sharing app. – Link

What’s Happening On Twitter

“A traditional application (mobile and web) uses fully centralized components. Then, what is the most crucial of component necessary when defining an app as a “dApp”?” – Amentum Capital Partner Steven D. McKie

“Building technology means you don’t have to choose between practicing science, commerce, and art.” – Naval

Alex Mizrahi discusses the motivations for financial and non-financial service decentralized applications, including the need to bypass legal or regulatory limitations (i.e. government can’t sue a piece of code) and the need to protect against a centralized company abusing its ‘monopolist’ position. – Link

“Tron has done a great job of building community and attracting developers. Those are two of the most important attributes required for a blockchain to be successful.” – Brock Pierce

“App stores gave developers a fair distribution channel.

Bitcoin’s ledger gives developers fair access to data.

It will lead to not simply replacing Web 2.0 companies with 3.0 companies, but rather increasing the number by at least 1000x.” – Jack C. Liu

Thanks everyone!

– Andrew

 

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