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The Blockchain Story

Bits and Bytes : Crypto Weekly, 6-12 May, 2019

  • By The Blockchain Story
  • Mon, 13 May 2019 00:00:00 AM
  • 0 comments
  • 0

Moloch DAO receives donation from Vitalik Buterin and Joseph Lubin

Ameen Soleimani’s MolochDAO recieved a donation of 1,000 ETH each from Joseph Lubin and Vitalik Buterin, and 2,000 ETH from ConsenSys and the Ethereum Foundation bringing organization's total funds up to $1 M.

MolochDAO is crowdsourced funding initiative to support ethereum infrastructure projects. It is decentralized and autonomous grants system with immediate goal to fund further development of ethereum blockchain, ethereum 2.0.

JP Morgan Chase improves Quorum Blockchain’s Privacy

Open source Quorum Blockchain has been updated with help from Microsoft. Developers have updated the privacy architecture by replacing its former Haskell-based privacy engine Constellation with the Java-based “Tessera” privacy transaction manager. The improvement makes it easier for a broad range of firms to implement Quorum blockchain platform.

Craig Wright ordered to produce list of BTC addresses in Kleiman case

US District Court of Southern District of Florida has ordered Craig Wright to furnish a list of the public addresses of his Bitcoin as of December 31, 2013. Further, it ordered to produce documents identifying the name and location of the blind trust, the name and contact information for the current trustee and any past trustees, and the names and contact information of any current or past beneficiaries, a copy of any and all documents relating to the formation, administration, and operation of the blind trust, a copy all transactional records of the blind trust, including but not limited to any records reflecting the transfer of bitcoin into the blind trust in or about 2011.


The Crypto Bits

  • Hut 8 earns $36.76 M revenue but sustained total losses of around $101 M in 2018.
  • Moscow plans to pilot blockchain based e-voting in Student council elections in university in June
  • Bitcoin developer Pieter Wuille has made two proposals for a Taproot soft fork.
  • Figure secures up to $1B financing facility on the Provenance.io blockchain with Jefferies and WSFS Institutional Services.
  • Honeyminer mining app is now available on MacOS
  • Bitmain hashrate has dropped from 1,692.35 PH/s in March to 237.29 PH/s as of May start.
  • Facebook removes Crypto related ban
  • Fidelity to begin bitcoin trading within a few weeks.

Tech Dev/pilots/tests

  • Microsoft releases Azure blockchain development kit for Ethereum.
  • R3 & Wipro Limited have developed a blockchain solution to enable Bank of Thailand to use CBDC for interbank settlements.
  • R3’s Voltron has completed trials, with over 50 banks, of simulation of multiple digital Letter of Credit transactions across 27 countries on six continents.
  • Ethereum 2.0 Proof of Stake testnet ‘beacon’ blockchain is now live.

Security Concerns

  • MakerDAO announces a critical security update for its governance contract.
  • Tron announces a now fixed critical bug that could have crashed its entire blockchain

Courts & Prosecutors

  • Bitfinex and Tether moved court to vacate the ex parte April 24, 2019 Order claiming that it was issued based on incorrect facts and the wrong legal standard.
  • Europol & Spainish authorities arrested 8 persons for providing fiat to crypto laundering services to criminal organisations.
  • FBI & Israeli Police have arrested two men for running a dark web listings site using bitcoins.
  • Federal Trade Commission files a lawsuit against iBackPack for misusing funds raised during four crowdfunding campaigns.
  • Christine Grablis, OneCoin investor is suing OneCoin seeking damages and a class action suit to represent other investors defrauded by OneCoin.
  • The California Superior Court has ordered Nicholas Truglia to pay $75.8 M to Micheal Terpin for defrauding him fo crypto assets via SIM swapping.
  • US DoJ has indicted 8 persons of a hacking group “The Community” that stole $2.5 M worth crypto.

Exchanges

  • Zebpay, Singapore launches in Australia.
  • Coinome, India halts operations due to regulatory difficulties.
  • SIX Swiss Exchange to consider issuing its own digital tokens.
  • CMC removes Bitfinex’s BTC price from global average over concerns of free market price.
  • Currency.com has issued a tokenised version of Belarusian government bonds.
  • Co-founder of Cobinhood has stopped participating in firms affairs due to disputes.
  • Binance hacked, 7,074 bitcoins stolen.
  • Bursa Malaysia, is working on a blockchain based security borrowing and lending proof-of-concept.
  • Bitfinex sold all $1B Leo tokens in private sale.
  • Nordea trading platform ‘we.trade’ now opens to small and middle-sized customers. 

Government & Regulatory

  • FCC, US is considering blockchain for wireless spectrum organization.
  • Registry of Companies, Malta to implement blockchain based registry system.
  • Ontario Securities Commission to conduct a public settlement hearing on agreement between NextBlock Global Limited, its CEO Alex Tapscott & the Commission.
  • Government of Liechtenstein has passed Token and VT Service Providers Act.
  • FinCEN has released guidance containing its financial regulation policies concerning DApps.
  • US House Committee on Financial Services establishes the Task Force on Financial Technology.
  • Crescent Crypto Index Fund has filed with SEC for (BTC & ETH) ETF to be traded on “NYSE Arca”
  • US Senate Committee for Banking demands information from Facebook on crypto project.

Investment & Acquisitions

  • Crusoe Energy Systems raised $4.5 M from investors including Winklevoss Capital to fast track construction of data centres for crypto mining.
  • tZero has secured $5 M  from GSR Capital.
  • QEDIT has raised $10 M in Series A from MizMaa Ventures & Ant Financial among others.
  • Orchid Labs has raised $7 M with its latest private offering.
  • Data Gumbo has raised $6 M from Saudi Aramco Energy Ventures & Equinor Technology Ventures.

Patents & Trademarks

  • Facebook has trademarked “Libra” for its crypto project.

Research & Surveys

  • 60.22% BTC full-nodes are vulnerable to CVE-2018-17144 inflation bug.
  • 776k Ether transacted on Dapps in April trumping December transactions, reports Diar

Collaboration & Partnerships

  • The Sustainable Shrimp Partnership (SSP), Ecuador joins IBM Food Trust ecosystem to trace SSP shrimp from farm to fork.
  • Curv wallet has partnered with Munich Re to obtain $50 M in insurance coverage.
  • Starbucks to use Microsoft’s Azure Blockchain Service to track coffee production.
  • Bahçeşehir University has started a Blockchain tech center at Northeastern University.
  • Raiffeisen Bank International (RBI) to pilot R3’s Marco Polo for trade finance
  • Belfast City Council, UK partners with Colu to launch Belfast Coin.
  • Swiss Post has partnered with Modum to develop ‘ThermoCare’, a temperature monitoring solution for shipments.

Hiring/Goodbyes

  • Kavita Gupta, founding executive is leaving ConenSys.
  • Ex Goldman Sachs Oren Blonstein joins HBUS as VP, product and technology. 
  • Former Worldpay Glen Braganza joins BitPay as Chief Financial Officer.
  • Ex- Coinbase Hunter Merghart joins Bitstamp as head of US operations
  • Nick Carmi joins BitGo as head of Financial Services.
  • Ex Deutsche Bank Kenan Altunis joins Founders Bank as its CEO.

 

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