Friday News Roundup

Friday News Roundup

 Top News in Asia from Tuesday to Today 

It’s Now Harder to Mine Bitcoin Than Ever. The arrival of the rainy season in China’s southwest has been delayed by nearly a month compared to previous years.

The Beijing Internet Finance Industry Association (BIFIA), a self-organized association of China’s internet finance players, just released a notice pointing out that projects such as Algorand and VDS, are vigorously promoting their virtual coins with roadshows and meetups, under the disguise of academic research. BIFIA reiterated the 2017 ICO ban content and other historical warnings, stating that ICO, IFO, IEO and IMO are with extreme risks and these illegal behaviors are strongly deceptive to the investors.

Binance in Talks with Facebook Over Listing Libra, may also support the Libra blockchain by acting as a permissioned node that validates transactions.

South Korean internet company Kakao has rolled out a public network platform called Klatyn. It’s a proof of stake based blockchain with enterprise participants including China’s Wanxiang blockchain, Philippines’ Union Bank, LG, Kakao, and Gaming companies such as Netmarble and PUBG. Here’s a comparison of its governance council vs Libra’s association.

All the announcements here:

Global Coin Research did a workshop on STOS with Securitize’s head of Asia Jacqueline Kwok. Securitize has 19 upcoming STOs and more takeaways here->

Zcon1 Presentation Key Takeaways Part I: Here are some reasons why we at Global Coin Research encourage western projects to go learn about Asia crypto happenings.

Most Clicked on From the Last Newsletter

Decrypt interviews Ethfinex on how they mint Tether in preparation for the bull market demand.
This section of the report particularly stood out to me, as this is what we hear as well from the market: “Nobody ‘buys’ tethers,” said pseudonymous blogger Bitfinex’ed, who has been investigating Tether for several years, in a DM to Decrypt. “Bitfinex [a large crypto exchange that operates as Tether’s affiliate] issues tethers to their traders for market manipulation, market manipulators pump and dump, then ‘pay’ for the tethers later.” 

Korean exchange Bithumb announces plans to start of EOS blockchain voting. The report says that Koreans own about 10% of EOS tokens and Bithumb owns the most out of all the Korean exchanges.

Events coming up in Asia

StakingCon is taking place in July 10th in Beijing- with Algorand?Cardano?Tezos?Dash?NEM?IRISnet?VSYS?Edgeware?AELF?MultiVAC?Near Protocol?Decred.

Complimentary tickets are available to KryptoSeoul for BUIDL 2019 on July 22nd and 23rd, a technical and business forum held at Novotel Ambassador Gangnam. We have partnered up with the team to bring premium subscribers complimentary tickets to the conference, while supplies last.

Complimentary tickets are available for our premium subscribers to Asian Blockchain Chain in Taipei in July 2&3, while supplies last. New speakers include Justin Sun, CZ and Arthur Hayes. 


Chris Paik and Jordan Cooper, formerly investors from Thrive Capital and Lerer Hippeau, respectively,  have raised a $150 Million vehicle focused on Series A investments including crypto.


Exchange News

GCR highlights from an interview with Binance co-founder He Yi: Binance US coming soon; BTCB challenging USDT.
BlockTV’s One-on-one interview with Binance Strategy Officer Gin Chao.

Binance and stablecoin issuer Paxos have collaborated to simplify exchanging of fiat directly for the stablecoin Paxos Standard.

Huobi exchange will expand its operations to Turkey, planning to have a crypto-to-fiat onramp for Turkish users by the end of 2019.

DDEX founder shares on a set of heuristics that he found to be helpful for evaluating new DeFi projects and potential interactions.
Exchanges encountering problems around the world: 

-Ireland-based cryptocurrency exchange Bitsane disappeared without a trace last week, likely taking hundreds of thousands of users’ assets with it.
– Singaporean crypto exchange Bitrue gets hacked, loses $4.3 million in XRP, ADA.
-Another top Indian crypto exchange, Koinex, is shutting down amidst regulatory uncertainty.

? Coins and Mining

Per co-founder of Near Protocol: A malicious actor with ~10% of stake can stall PerlinNetwork Wavelet indefinitely.

Goldman Sachs suggests the possibility of making a currency like JPM.

The Maker Foundation has prepared to initiate the late-stage tasks required to launch Multi-Collateral Dai (MCD) on Mainnet.

Iranian authorities have seized around 1,000 bitcoin mining machines from two former factories, following an increase in electricity consumption.

? Business

Xinhua News Agency, China’s state-owned media, pointed out that Bitcoin is being treated as a safe asset by investors and is funding a fund.

Alex Gladstein on the ongoing Hong Kong protest and Bitcoin As Cash Fades, Will Bitcoin Keep Protest Alive in the Surveillance Age?

China’s G20 spokesmen: “G20 is paying a lot attention on how to use new #technology in traditional finance industry, like #digitalcurrency and digital asset. China is doing pretty good in these areas.”

? Regulations

The Monetary Authority of Singapore has spoken to the firm about its new cryptocurrency project – verdict is that there are still serious concerns but its early to tell.

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