Crypto Week in Brief: A round-up of the week’s biggest cryptocurrency stories from around the Internet. This week’s edition includes Bakkt, Edward Snowden, Bitcoin Cash SV, and a new EU Blockchain Association.
The cryptocurrency market has dropped $63 billion in the last seven days, with Ethereum dropping under $100. The bottom may still not be in sight. However, analysts have been quick to point out that the corrections of 2011, 2013 and 2015 were all worse. (CCN)
In a move that may have impacted the market 23-25 November, Bakkt pushes the planned 12 December 2018 launch of its Bitcoin future trading platform to January 2019. The move, coming as a surprise, is intended to allow additional time for customer and clearing member on-boarding. (Coindesk)
Despite the slump in market prices, investor and CoinShares executive Meltem Demirors highlights the fact that the cryptocurrency ecosystem and industry is growing and thriving. Binance’s CFO also feels that, despite the recent troubles of ICOs, the crypto sphere will continue to rely on the emergence of high-quality projects for smart money to invest in. (CCN)
On the other hand, the Bitcoin dump of 25 November has breach a three-year-old support, meaning that the short-term price may continue to decline, with $3,000 or possibly even $2,500 the next supports to be tested. (Captain Altcoin)
Wall Street-listed company Overstock.com is to sell off its retail arm by February 2019, with the aim being to go all-in on crypto. The CEO, Patrick Byrne stated that he doesn’t care that their as-yet-unreleased exchange is losing money, as the company believes it has “cold fusion on the blockchain side.” (7Bitcoins)
The U.S. Department of Defence’s research arm, DARPA, are to hold a blockchain workshop in February 2019, with the aim being the development of permissionless technologies to aid in national defence. (Odeybit)
The ongoing Bitcoin, Bitcoin Cash, Bitcoin Cash SV war continues. Bitcoin Cash and Bitcoin Cash SV should no longer be linked. Bitcoin should apparently be called Bitcoin Segwit. (The Coin Telegraph)
Forget the Moon. Asteroids may be the next aim for crypto investors after blockchain start-up ConsenSys acquired a space-mining company – which hasn’t actually mined any asteroids yet. Obviously. (The Coin Radar)
Spanish banking, La Liga sponsoring behemoth BBVA has announced that it and four other major banks have joined the European Commission’s planned blockchain associated. The imaginatively titled ‘International Association for Trusted Blockchain Applications’ will garner knowledge from private blockchain experts with the aim of outlining the EU’s strategy going forwards (Coindesk)
Ed: small surprise the banks are getting involved!
The United Kingdom is considering a bank on certain crypto derivatives issued by banks, and is also going to look at the issue of regulating cryptocurrencies and their usage in financial crimes. (Coindesk).
Meanwhile, despite the current market conditions, hacker-extraordinaire Edward Snowden actually believes that Bitcoin has become a victim of its own success. When asked on how he views the future of crypto he answered “what do you think?” (Ethereum World News)
Obelisk Miner SC1: a new, anti-monopoly miner has launched in opposition to Asics. With Bitmain being cited, as supporter of Bitcoin Cash and opponent to Segwit, as a bad actor in the cryptocurrency space., the aim is to re-decentralise the Bitcoin mining space and wrest dominance away from Bitmain. (CoinCentral)
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