BitDigest May 19 · Issue #661

May 19, 2020
  • Bitcoin holding in $9,600 – 9,800 range
  • The Consumer Financial Protection Bureau believes using Ripple could benefit consumers by allowing them to see the actual amount of a transfer / remittance before the transaction has been completed
  • ISIS may have transferred $300 war chest into cryptocurrencies to hide it from authorities
BitDigest May 19 · Issue #661

Crypto Fear and Greed Index

The Crypto F&G Index has recovered from March and April’s weakness and is now at 50 signifying a neutral sentiment. The index is up 11 points since last week.

BitDigest May 19 · Issue #661

She-Who-Must-Not-Be-Named

Harry Potter author JK Rowling admits that asking for an explanation on bitcoin is something her young wizards may not have event been prepared for. Responding to all the posts and media attention she has received since asking for an explanation of bitcoin she tweeted, “This is getting silly. I’m not joining the Bitcoin community. It should be perfectly obvious by now that I’ve been trolling Bitcoin in the hope of boosting my significant ethereum holdings.”

Moments later she tweeted that the ethereum comment was meant as “a joke.”

The Headlines

BitDigest May 19 · Issue #661

CFPB Likes Transparency of Ripple

www.consumerfinance.gov
The U.S. Consumer Financial Protection Bureau (CFPB) identified the adoption of Ripple’s (XRP) suite of products and Switft’s gpi as benefiting banks and credit unions because they would allow the recipients of remittance transfers to know the exact amount of the transfer before it is completed.
BitDigest May 19 · Issue #661

Missing ISIS War Chest May be Hidden in Crypto

www.thenational.ae
The Counter Extremism Project, a nonprofit non-governmental organization that combats extremist groups “by pressuring financial support networks, believes that over $300 million is missing ISIS funding may have been “transferred into a digital currency to hide it from the authorities.”
BitDigest May 19 · Issue #661

Suzhou Creating Blockchain Development District

www.beincrypto.com
The city of Suzhou plans to create a development district to support blockchain related companies operating in what is referred to as the Venice of the Orient.
BitDigest May 19 · Issue #661

Raiffeisen Bank Piloting Digitized National Currency

www.prweb.com
Austria’s second largest bank by assets, Raiffeisen Bank, announced it is working on an end-to-end digitized national currency platform.
BitDigest May 19 · Issue #661

European COVID-19 Supercomputers are Suddenly Mining Monero

www.siliconangle.com
An unknown group has hacked European supercomputers and changed its programs from running COVID-19 analytics to mine monero (XMR).
BitDigest May 19 · Issue #661

Visa Leadership Supporting Crypto

www.twitter.com
Visa CEO Alfred Kelly sees digital currencies as an emerging payment technology and believes it “could be additive to the to the payments ecosystem as opposed to being any kind of replacement or negative;” while his head of crypto, Guy Sheffield tweeted a lengthy explanation on the two types of potential central bank digital currencies: digital cash used by consumers and business, and a backend infrastructure like real-time payment rails.
BitDigest May 19 · Issue #661

Class Action Lawsuit Claims EOS Offering was an Unregistered Security

www.beta.documentcloud.org
A class action lawsuit has been filed against block.one alleging that EOS’s ICO was actually the sale of an unregistered security supported that aggressively courted US investors.
BitDigest May 19 · Issue #661

Bakkt Provides Update on Custody Services

www.bakkt.com
Bakkt provided an update announcing that it has already onboarded over 70 firms to its enterprise grade custody offering, can provide more than $625 million in insurance coverage, completed both Soc1 Type 1 and Soc2 Type II audits, and is now offering Tagomi’s customers custody at a cost of 0.1% per year.
BitDigest May 19 · Issue #661

Celo Releases Mainnet

www.celo.activehosted.com
Celo formally announced it launched the mainnet for its gold tokens on April 22nd.
BitDigest May 19 · Issue #661

McAfee Accused of Plagiarizing Ghost Whitepaper

www.twitter.com
Many digital currencies are created from forks of other currencies but security developer and crypto advocate John McAfee is being accused of plagiarizing most of his Ghost currency’s whitepaper from a 2018 project called PIVX.

Market Data

BitDigest May 19 · Issue #661

Bitcoin's Hashrate Returning to 100 Ehash/s

www.bitinfocharts.com
Bitcoin’s (BTC) hashrate is beginning to show signs of resurgence as miners have increased the total network processing power by 14% over the past 24-hours to 99.3 Ehash/s.
BitDigest May 19 · Issue #661

Bitcoin Exchange Balances Continue to Decline

www.insights.glassnode.com
Glassnode Insights reports that bitcoin balances on crypto exchanges have experienced the largest and most prolonged decrease in BTC’s history.

Exchange, Custody and Product News

BitDigest May 19 · Issue #661

Cash App Adding Bitcoin – Dollar Cost Averaging Feature

www.twitter.com
Square CEO Jack Dorsey tweeted that the Cash App now offers automatic recurring purchases for bitcoin.
BitDigest May 19 · Issue #661

Binance Suspends Use of South African Rand

www.binance.zendesk.com
A few weeks after announcing the addition of the South African rand (ZAR) as a new fiat channel, Binance has suspended ZAR deposits and withdrawals without providing any further detail.
BitDigest May 19 · Issue #661

Huobi Rebrands Derivatives Exchange

www.prnewswire.com
Singaporean based Huobi recently relaunched its derivatives trading exchange and is now rebranding it as Huobi Futures.

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