Newsletter June 6th 2018
Coinbase In Japan
Coinbase opened a new office in Japan under Nao Kitazawa, who is the Chief Operating Officer of Money Design.
Takeaway: A Coinbase office in Japan will help cryptocurrency adoption in Japan. Coinbase is known as one of the most secure and trustworthy exchanges. One of Japan’s exchange’s, Coincheck, was hacked https://blockwolf.com/newsletter-03-14-2018/ a couple of months ago so Coinbase should provide some more trust in their cryptocurrency trading ecosystem.
Binance and Huobi Development Fund
Binance and Huobi announced that they are launching blockchain development funds. The two stories are separate but BlockWolf groups them together because of their similar nature. Huobi raised $93 million and Binance wants to raise $1 billion.
Takeaway: With so much money getting investing into new blockchain and cryptocurrency technologies, BlockWolf expects that cryptocurrencies will stay relevant for the future. Binance has already legitimized itself as one of the top cryptocurrency exchanges and has a great image but Huobi is not as well known. Huobi’s development fund should help it boost its global image if any of their development fund projects succeed.
SEC Appoints New Adviser
The SEC appointed Valerie Szczepanik as the senior advisor for digital assets and innovation. She will help clarify how digital assets including ICOs and cryptocurrencies relate to U.S. securities laws.
Takeaway: Hopefully Szcepanik can lead to clarity on how to legally identify cryptocurrencies and ICOs. A major problem exists because the SEC has not set a hard stance on cryptocurrencies’ compliance with securities laws, which has led to fraud and uncertainty.
Eos Mainnet Launch Still In Progress
Eos’s mainnet launch is still in progress despite its code release on June 2nd. Block.One released the code but said that they were not responsible for the launching the blockchain. As a result, an EOS Mainnet Launch Group (EMLG) formed to launch the blockchain but they want to fix some security issues before launching the chain.
Takeaway: BlockWolf is not concerned about EOS’s mainnet launch but it concerns us that Block.One’s method of launching their blockchain could influence malicious ICOs to promote their project in the same way, without releasing their code.
Tron released a beta for its mainnet launched. Tron announced that it will launch the real mainnet on June 25th.
Takeaway: BlockWolf was disappointed in Tron because Justin Sun’s tweet that read “Main Net Launch Countdown: 13 hours, 52 minutes, 9 second!” on May 30th, but it was really a countdown for its Beta.
0xBTC Listed On IDEX
0xBTC was added to IDEX, the top decentralized exchange by volume.
Takeaway: 0xBTC is the first ERC20 token to ever be distributed through an adjustable proof of work mining algorithm. If it gains popularity by getting listed on exchanges like IDEX, Blockwolf expects 0xBTC to influence the distribution of future ERC20 tokens so it is on our radar.