Image Of The Day, 24 Of August: Bloomberg, The New York Times, The Next Web and others
We're presenting «image of the day». Bitnewstoday.com has chosen only the freshest and most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes are below!
1. GREAT SUCCESS! (CNBC)
'Overwhelming' response to world's first blockchain bond
The world's first public bond created and managed using only blockchain had support from seven investors, Commonwealth Bank of Australia the sole lead manager of the deal said on Friday, helping raise A$110 million ($80.48 million) for the World Bank.
Commonwealth Bank (CBA) executive general manager James Wall said that the deal, designed to test how the technology might improve decades-old bond sales practices, had exceeded expectations and interest had been "overwhelming."
2. CRYPTO METAL! (News.bitcoin)
Bitcoin card goes metal, offering cryptocurrency cash back
Revolut Metal is the latest offering from the United Kingdom-based digital bank, Revolut. It claims to return cryptocurrency cash back on purchases, higher withdrawal limits, and even a personal concierge service. Offered initially to its 10,000 strong premium clients, Revolut intends to open the card to everyone in order to meet demand.
CEO Nikolay Storonsky assured, “We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travelers worldwide. The launch of Revolut Metal is also an important step towards the company generating additional revenue, especially as we prepare to launch a commission-free trading platform and expand the business into North America and Asia later this year.”
3. LAST CHINESE WARNING (The New York Times)
China Central Bank Warns Against Illegal Fund-Raising by Virtual Currency
China's central bank issued a warning on Friday on the risks of illegal fund-raising by companies marketing virtual currencies and blockchain technology. In a post on its website, the People's Bank of China said those so-called "financial innovation" activities are akin to ponzi schemes, adding that people should hold a rational attitude towards blockchain rather than put blind trust in it.
4. SECOND THOUGHTS (Reuters)
SEC to review decision rejecting bitcoin ETFs
The U.S. Securities and Exchange Commission said on Thursday it will review a decision by its staff to block nine bitcoin-based exchange-traded funds from coming to market. The commissioners had previously voted 3-1 to reject another bitcoin ETF application, with Republican commissioner Hester Peirce dissenting on the basis she felt doing so stifled innovation.
5. FEAT OF HONESTY (The Next Web)
Mt. Gox preps to return $1B in stolen cryptocurrency to victims
The floodgates have opened for victims of the long-running Mt. Gox saga, which involves over a billion dollars in lost cryptocurrency. Almost five years later, claims can finally be made to have the stolen money returned.
A press release has been posted on the Mt. Gox website, along with an online tool for submitting claims. If online is not suitable, they can be made via post. It should be noted that this process is strictly for individuals – claims for corporate creditors will have to be filed at a later date.
6. PUMP AND DUMP FAILURE (Bloomberg)
It’s getting hard to pump amid the dump in the $209 billion cryptocurrency market.
At least that appears to be the case when you look at Tether, one of the most-traded digital assets and also one that’s allegedly been used to manipulate the price of Bitcoin. Over half a billion dollars of Tether has been created in August alone, a move that in the past would have often coincided with a rally in Bitcoin, yet the larger cryptocurrency has fallen 15 percent.
7. Rip-off fly off! (Forbes)
Bitcoin scams are soaring
According to a recent report by CipherTrace, rip-offs from cryptocurrency exchanges "soared in the first half of this year to three times the level seen for the whole of 2017." The report says that the digital money was likely stolen for money laundering purposes. "In the first six months of the year, a total of $761 million was stolen from digital currency exchanges, compared with about $266 million for the whole of 2017," CipherTrace noted. "The losses could rise to 1.5 billion this year".
International police organizations are also slow to catch up with the crypto-crime trend. There is no standard regulation of cryptos, although government agencies like the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) are considering regulation.
8. GERMANS ARE DOING IT AGAIN! (Bloomberg)
Deutsche Bank Pushes Digital With Second Fintech Deal This Year
Deutsche Bank AG beefed up its digital banking operations again with a second investment in a fintech startup within four months, a move that points to a slow revolution at one of its most important divisions.
The German lender, which has been shrinking staff and operations internationally, agreed to buy an unspecified stake in Dallas-based startup ModoPayments, aiming to bolster its Global Transaction Bank and tap into the fast-growing channels outside of traditional banking.
9. NOT A BETTER BITCOIN (Wall Street Journal)
It Was Meant to Be the Better Bitcoin. It’s Down Nearly 90%
The bear market in cryptocurrencies has punished investors who bought bitcoin at the height of cryptomania last year. But losses have been even more brutal for those who invested in once-promising rivals of bitcoin.
Consider Bitcoin Cash, an offshoot of bitcoin that launched on August 1, 2017, which moves independently of bitcoin itself. While bitcoin has fallen 68% from its record intraday high of $20,089 in December, Bitcoin Cash is down a crushing 88% from its peak of $4,355.62, according to CoinMarketCap.com.
10. SHORT SQUEEZE (Market Watch)
Don’t bank on a bitcoin short squeeze, analysts say
Bitcoin prices are moving higher Friday, headed for back-to-back winning weeks after holding above the crucial $6,000 mark. The market for bitcoin, the world’s biggest digital coin, largely shrugged off Wednesday’s decision from the Securities and Exchange Commission to deny nine separate proposals for bitcoin-related exchange-traded funds. A single bitcoin BTCUSD, +2.67% was last trading at $6,551.46, up 2% since Thursday at 5 p.m. Eastern Time on the Kraken crypto exchange.
Even with the prospect of consecutive winning weeks, bitcoin remains in a tight range, and one asset management firm has warned that those positioning for a short squeeze should tread carefully.