Friday News Roundup

Friday News Roundup

 Top News in Asia from Tuesday to Today

The focus of crypto media around the world this week has been the Justin Sun drama. AfterCaixin, a large, government-backed news agency, reported on Tuesday that Justin was on China’s border-control list since June 2018, Justin immediately attempted to defend himself and refute the claim on social media by showing that he was actually outside of the country.

That claim has completely backfired by Thursday, when Justin brought an extensive public apology onto Chinese social-media site Weibo. He admitted shame for overly publicizing his lunch with Buffett’, and gave apologies directly to Caixin, the reporter who reported the news on him, the regulators, and Wang Xiaochuan (CEO of Chinese search engine Sogou). In the apology letter, he mentioned the term “regulators” 13 times and we shared more details of his apology letter here. Similar to other public posts we’ve seen from celebrities who have gotten in trouble with the regulators, this letter and apology were clearly directed by the regulators in China.

Year to date, Tron has essentially halved in valuation, but we think this drama is only the beginning.  Despite getting a serious warning, Justin continues to tweet and retweet about Tron (in his apology letter, he pledges that from now on, he plans to avoid the media spotlight, and orient himself to be more technology-focused instead of marketing focused). But we think that’s going to be hard to change, and we encourage you to check out in-depth take on Justin’s life and Tron to better understand his motivations. Relatedly, Bittorent founder Bram Cohen also came out last night claiming that that Sun hasn’t made a scheduled payment as part of Tron’s acquisition of BitTorrent last June.

In case you missed it, Global Coin Research has officially released its complete guide book on Asia Cryptocurrency and Blockchain communities titled: The Small Handbook to Asia Crypto: on Local Ecosystems, Trends and Regulations”This book is made complimentary for the community by the support of Kakao Klatyn, Zcash, BlockchainsforSchools and Kyber Network.

? Coins and Mining

Placeholder has created a metric designed to measure the value of smart contract platforms: Ethereum is undeervalued. EOS is overvalued.

Japanese financial services giant Monex submits application to join Facebook’s Libra.

Phone maker Huawei Founder Ren Zhengfei Says China Can Create its Own “Libra”.

Omise Holdings announced that it had received investment from Nomura Holdings, Japan’s largest securities company- fresh funds will be used towards the expansion of Omise, OmiseGo, and Go.Exchange.


  Exchange News

Huobi to Launch Regulated Thailand-Based Crypto Exchange in Q3 2019.

Binance’s Trust Wallet now allows trading on ‘multiple’ decentralized exchanges.

Binance research: Decentralized Finance has steadily gained adoption since a year ago, with around 500 million $USD locked across all #DeFi products. MakerDAO remains the largest with a whopping 290.1 million USD locked in value.

? Business

HSBC conducts blockchain letter of credit transaction between Korea and Vietnam.

Coingecko has partnered a US digital asset venture consulting firm to launch an index that will be available on Bloomberg.

? Regulations

NYTimes: A $5 Billion Fine for Facebook Won’t Fix Privacy.

Spanish newspaper ABC has uncovered a scheme by which Venezuelan President Nicolás Maduro and his associates were using a digital wallet app to turn tax revenue from domestic airports into bitcoin and other cryptocurrencies that were then transferred to exchanges in Hong Kong, Hungary, Russia and China.

Indian supreme court this week has delayed its hearing  on the crypto case, expected to address the petitions against the central bank’s crypto restrictions.

Iran Bans Bitcoin Miners from Using Power during Peak Hours.

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