SEC Tries to Scam ICO Investors to Show Them How Easy It Is
Matt Robinson – Bloomberg
Agency sets up a fake ICO to warn investors about the risks; Regulator has repeatedly warned investors of fraud in ICOs
A hot new initial coin offering gives investors the chance of a lifetime to make money from sun-soaked beaches and crystal-clear waters. It also provides something even more valuable: advice on how to avoid getting ripped off by fraudulent ICOs.
Devvio Blockchain First to Surpass Millions of Transactions per Second
Devvio, a pioneer in blockchain protocols (https://devv.io), today announced that its Devcash blockchain has achieved benchmarking results of over 2,500,000 transactions per second, processed on-chain. The benchmarking test refers to transactions validated within the blocks of a public blockchain. The Bitcoin network can process approximately 5 transactions per second and the Visa network is capable of handling more than 24,000 transactions per second, in contrast.
Cryptocurrency startup BCause scouts Chicago talent
Lynne Marek – Crain’s Chicago Business
Another cryptocurrency firm, BCause, is setting up shop in Chicago, tapping a Windy City exchange veteran to head up operations.
Virginia Beach, Va.-based BCause hired Chicagoan Fred Grede last May as CEO and president to build out what it’s calling the first “cryptocurrency ecosystem.” Grede is best known in Chicago financial services as the lawyer who served for a decade as trustee to the long-running bankruptcy of Northbrook-based investment manager Sentinel Management Group.
Square’s bitcoin move has caused internal disagreement – CEO Dorsey
Anna Irrera, Gertrude Chavez-Dreyfuss – Reuters
Square Inc’s (SQ.N) decision to allow users of its mobile app to buy and sell bitcoin this year was a “pretty contentious move within the company” and remains a source of internal tension, the payment processor’s CEO Jack Dorsey said on Wednesday.
Coinbase just rolled out 4 new crypto trading tools, and they offer a big clue to where the platform might be headed next
Zoë Bernard – Business Insider
When cryptocurrency trading platform Coinbase launched in 2012, it was laser-focused on attracting individual investors to trade bitcoin. But years later, and after branching into other cryptocurrencies like ethereum, the San Francisco-based company is once again broadening its product offerings.
Coinbase CEO Brian Armstrong to talk the future of cryptocurrency at Disrupt SF
Jordan Crook – TechCrunch
Coinbase has come a long way since its launch in 2012. The company has raised more than $225 million and paved the way for cryptocurrencies to enter the mainstream by providing a digital currency exchange. Which is why we’re absolutely thrilled to have Coinbase co-founder and CEO Brian Armstrong join us on the main stage at TechCrunch Disrupt SF in September.
When the Blockchain Skeptic Walked Into the Lions’ Den
IT TAKES CHUTZPAH to walk on stage in front of thousands and declare that most of the people in the room are totally full of shit. That’s how Jimmy Song, a venture partner at Blockchain Capital, entered Monday at Consensus, the biggest cryptocurrency conference of the year, at New York’s Hilton Hotel. That he did so sporting a black cowboy hat and boots was merely a bonus.
Jack Dorsey Is All In on Bitcoin as the Currency of the Future
Julie Verhage and Lily Katz – Bloomberg
Jack Dorsey, speaking to a crowd of cryptocurrency enthusiasts, showed he was completely in sync with their view that digital currencies are the way of the future.
Venture Capitalist Fred Wilson Explains What Buffett Gets Wrong About Bitcoin
Janine Wolf – Bloomberg
‘I don’t know how you can put the genie back in the bottle’; Value of ‘hypercompetitive’ networks will accrue to tokens
The value of cryptocurrencies is ultimately going to accrue to the token, not necessarily the operating business or cash flow of the networks, Union Square Ventures’ managing partner and co-founder Fred Wilson said at the 2018 Consensus Conference in New York Wednesday.
Bitcoin’s True Believers Are Still Waiting on a Conference-Fueled Rally
Janine Wolf – Bloomberg
While the Lamborghinis turned out to be rented and the street protest a marketing gimmick for New York’s Blockchain Week, what’s really leaving some virtual currency enthusiasts disillusioned is the failure of Bitcoin to rally.
Bitcoiners Take New York, but Wall Street Resists The Lure; Attendees at Coindesk’s Consensus 2018 blockchain conference fill the back of a packed panel discussion on May 14, 2018 at the Hilton Midtown in New York City..
Paul Vigna – WSJ
New York may have caught the crypto bug. But one area of the city remains resistant: Wall Street. Large crypto-conferences and related events converged on the nation’s financial capital this month, bringing thousands of bitcoin faithful with them. The largest with 8,000 attendees is the Consensus conference that began on Monday at the Hilton in midtown Manhattan. Twitter CEO Jack Dorsey is slated to talk about why he sees bitcoin as the future, and rapper Snoop Dogg was the headline draw at a “community night” sponsored by crypto startup Ripple.
China bans trading in cryptocurrencies, but is now ranking them
Zheping Huang – Quartz
The first government in the world to provide ratings on cryptocurrency is one that has banned its people from using it.
Bitcoin is steroids for fintech startups that big banks are afraid to touch
John Detrixhe – Quartz
Making money by trading bitcoin, whose price has fallen by about 40% this year, has been difficult lately. But startups that provide services supporting crypto markets are faring much better. Companies like Revolut, a payment app, and Robinhood, a mobile broker, scored legions of new customers after they added buying and selling of digital tokens to their services.
Founders of cryptocurrency backed by Floyd Mayweather indicted for fraud; U.S. Attorney Robert Khuzami, seen in a file photo, announced the indictments.
Mike Murphy – MarketWatch
The three co-founders of a cryptocurrency promoted by boxer Floyd Mayweather and record producer DJ Khaled have been indicted by a federal grand jury, and stand accused of planning to defraud investors out of millions of dollars.
At a crypto conference in New York, it feels like 2017 all over again
Jemima Kelly – FT
If you thought the crypto hype was starting to cool down a little, you’d be right. But if you’d been at the Consensus crypto and blockchain summit in New York for the past few days, you would not have known it.