Top Headlines
- Bitcoin Slides Under $4,000
Bitcoin slid under $4000 today as the cryptocurrency crash of late 2018 continues. At time of publication, over $700B of market value has disappeared as the market continues its downward spiral. The casualties? Investors who bought when the market was high in late 2017 and the companies who sold crypto mining components. (Bloomberg)
- As Market Declines, Chinese Mining Operations Sell Equipment
Mining operations in China are selling off equipment by the truckload as the market declines, with prices being set based on weight instead of per unit as mining pools attempt to offset losses due to the crypto crash. (Coin Telegraph)
- Norway Revises Tax on Energy to Attract More Mining
Norway has removed a tax structure which previously allowed for miners to be taxed based on energy consumption in attempts to attract more mining firms, with environmentalists calling the revocation a “disaster”. (CCN)
- Has Microsoft Supplanted IBM as the Leader of Blockchain?
Microsoft’s new Blockchain-as-a-Service (Baas) platform has been ranked higher than IBM’s blockchain in a new research study conducted by market foresight advisory firm ABI Research, with the edge coming from the deep integration with Microsoft’s own Azure cloud service. (CCN)
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Crypto News
- Overstock Sells Off Retail to Focus on Cryptocurrency
Overstock will sell off its retail business (overstock.com) to completely focus on their cryptocurrency business after investing over $175M into its blockchain subsidiary Medici Ventures. Their most popular startup tZero, which hasn’t launched commercially, is falling deeper and deeper into the red although CEO Patrick Byrne believes they have a foolproof blockchain solution that will buoy the company. (CNBC)
- Early Bitcoin Investors Begin to Sell
Large investors who were fortunate enough to buy Bitcoin at $1000 are beginning to sell for the first time since early 2017, perhaps signaling a low tolerance for potential further price drops during the market crash. (CCN)
- DOJ Suspects Market Manipulation Tied to Last Year’s Crypto Frenzy
The US Justice Department launched an investigation into market manipulation tied to last year’s crypto frenzy, with all signs pointing to traders driving up market value buying and selling Tether and Bitcoin on Bitfinex to illegally move prices. (Bloomberg)
- Binance Invests $3M in Koi Trading
The VC wing of crypto exchange company Binance has invested $3M into Koi Trading, an over the counter trading enterprise based in California. Binance hopes to continue building infrastructure globally that provides for the trading of cryptocurrencies. (CCN)
- Launch of Bakkt Bitcoin Daily Futures Contract Delayed by NYSE
The owner of the New York Stock Exchange has delayed the launch of the Bakkt Bitcoin Daily Futures Contract until at least the end of January 2019, claiming the delay was caused by a surge in customers and members who require clearing before investment. (CCN)
- DOD Hosts Permission-less Blockchain Workshop
The US Department of Defense is hosting a Permission-less Blockchain Workshop in February in hopes of investigating possible technology for distributed consensus protocols. (Coin Telegraph)
International Spotlight
- ?? – Venezuela Approves Bill to Regulate Cryptocurrency
The Constituent National Assembly of Venezuela approved a cryptocurrency bill to regulate cryptocurrencies, with anti-money laundering provisions and validation of Petro, the national cryptocurrency. (Coin Telegraph)
- ?? – European Banking Giants Launch New Blockchain Association
Spanish bank BBVA has joined with four other European banking giants in launching a new blockchain association alongside the European Commission, the executive branch of the European Union. The association will attempt to outline the long-term EU strategies for blockchain use and adoption. (Coindesk)
Equity Crowdfunding
- Bit Trade Launches EC Campaign on Equitise Platform
Australian cryptocurrency exchange Bit Trade has launched an equity crowdfunding campaign on the Equitise platform, targeting a raise of $3M for their international expansion. (BTC Manager)
- TokenMarket and DOVU Launch UK’s First Tokenized CF Campaign
The first tokenized crowdfunding campaign in the United Kingdom has kicked off, with TokenMarket and DOVU partnering to raise money for DOVU’s token, wallet, and marketplace products. TokenMarket was accepted earlier this year into the Financial Conduct Authority’s Regulatory Sandbox and can now carry out security token offerings. (Crypto New Media)