Crypto Newsletter July 25, 2018
A new testnet for Raiden, an off-chain scaling solution for Ethereum, was released and is supposed to be the final testnet before its mainnet release.
Takeaway: Although the first Raiden testnet was released last year, it looks like Raiden will be open for mainstream use toward the end of the summer.
Coinbase formed a Political Action Committee (PAC). PACs are primarily used to raise funds for candidates running for public office but Coinbase’s PAC is not attached to any candidate running for office yet.
Takeaway: Assuming the PAC raises money for politicians, some politicians may have an incentive to advocate cryptocurrencies in the future.
Google and Instagram now support ads for Coinbase.
Takeaway: If Coinbase and other cryptocurrency related companies advertise on popular platforms such as Google and Instagram, there will be more awareness and potentially more adoption for cryptocurrencies.
A Chinese blockchain fund raised over $1B to focus on early stage blockchain startups, traditional industrial companies looking to adopt blockchain technology, and cryptocurrency projects. In separate news, over $50 million dollars were raised for BlockFi, a lending company that uses cryptocurrencies as collateral.
Takeaway: These two stories show significant fundraising for blockchain related projects. Over
The SEC delayed their decision about the ETF filed by Direxion Investments and will announce their decision about that ETF by September 21, 2018. However, the SEC has not delaying their decision about the ETF filed by VanEck and Solidx, which is expected to be publicized in August.
Takeaway: The SEC should not rush into decisions affecting investments with unchartered technology and short delays are not that significant.