Chase Class Action

The bank will repay nearly $2.5M in fees taken from cryptocurrency purchases

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June 1, 2020 Sponsored by By Daniel Kuhn If you were forwarded this newsletter and would like to receive it, sign up here.  TOP SHELF Chase Class Action Chase Bank has agreed to repay most of $2.5 million in fees customers say it unfairly charged for cryptocurrency transactions. A subsidiary of JP Morgan Chase, the bank has agreed to settle a class-action lawsuit resulting from the bank’s decision in 2018 to charge higher fees on Chase credit cards that had classified the crypto purchases as “cash advances.” Timelock Fault In a new report, pseudonymous engineer 0xb10c found more than a million of “timelocked” bitcoin transactions made between September 2019 and March 2020 were not accurately enforced by the network, increasing the risk of a hypothetical form of attack in which miners could essentially steal bitcoin from other miners. The bug affects 10% of timelocked transactions, or 2% of bitcoin transactions overall.  Beauty Startups and Crypto There are growing similarities between makeup startups and crypto communities, which are dominated by influencer marketing with products sold through direct-to-consumer (DTC) models and aggregated retail platforms like Amazon, Etsy or Shopify. In both startup sectors, users are encouraged to do their own research rather than trust traditional tastemakers like magazines. “I think DeFi and indie/new beauty [entrepreneurs] are very similar in this regard … bringing power to the people, generating opportunities,” decentralized finance (DeFi) user and skincare aficionado María Paula Fernandez said.  Cold Storage CoinKite released Coldpower, a way to charge hardware wallets by connecting the USB plug to a 9-volt battery, rather than plugging it into a laptop. Comparing it to a popular gizmo that prevents accidental data exchange when one device is plugged into another to charge, CoinKite says Coldpower is “like a ‘USB condom,’ but self-powered.” Crypto Long & Short Several “blue chip” crypto firms – including Coinbase, Genesis Capital and BitGo – have revealed plans to knit new connective systems for crypto trading and investment, and become prime brokers. CoinDesk’s Head of Research Noelle Acheson posits the move might “solve part of the fragmentation of crypto markets by giving investors access to several exchanges via one account.” In turn, this could lead to a new cycle of development and new market participants in the latest Crypto Long & Short newsletter.  From Around the Web Bitmain has launched a cheaper version of its flagship Antminer, in a bid to regain market share from rival MicroBT. (The Block) The Block has found that the number of blockchain-related investment deals have been declining for seven consecutive months.  Russian police arrested the head of a post office for mining crypto. (Decrypt) “Bitfinex was once the largest cryptocurrency exchange in the world. But where is it?” begins Cas Piancey and Bennett Tomlin’s excerpted chapter from a forthcoming book about the stablecoin tether. Piancey travels to China to find out.  PwC’s Henri Arslanian: Blockchain auditors to play ‘pivotal role’ in crypto (Finance Magnates)  OPPOSITE EDITORIAL Why Family Offices Should Consider Digital Assets for Their Portfolios Constantin Kogan, venture partner at BitBull Capital, takes a look at the growing trend of family offices interested in diversifying client portfolios with cryptocurrencies. “Blockchain-based digital assets can be an alternative for investors hoping to reduce reliance on a failing traditional financial system,” he said. To Get Serious About Decentralization, We Need to Measure It Stephanie Hurder, CoinDesk columnist and economist at Prysm Group, argues for standard frameworks for assessing how decentralized a crypto project is. “Blockchain-based systems are economies written in code. The value of a protocol, and any native tokens, depend on economic fundamentals. As such, users, validators and investors benefit from a standard set of measures that gauge these fundamentals and evaluate whether systems are working as intended,” she writes. SPONSORED BY PRIME TRUST Open banking made easy, Prime Trust API's for payment processing, compliance, counterparty settlement, fiat & crypto custody for exchanges, OTC desks and fintech innovators...globally. Relax, you've found your financial institution partner. Learn More MARKET INTEL Ether's Gains Bitcoin has entered the seasonally bullish month of June on a positive note, but its recent gains look pale compared to that of ether (ETH), the second-largest cryptocurrency by market value. Bitcoin rose by over 8% last week and ended May with a 9.5% gain. Meanwhile, ether’s price rose by 16% last week and 12% for the month of May.  Breakout Token The ZRX token from 0x, a developer at the forefront of the fast-evolving landscape for decentralized exchanges, surged 67% in May to become the month’s top-performing digital asset. ZRX’s May surge took the token’s price to the highest in almost a year, though the current price of about 32 cents is still down some 87% from the all-time-high of $2.50 reached in January 2018, according to data provider Messari. The rise follows protocol updates and a beta launch of a new trading platform.  COINDESK PODCAST NETWORK The Future of Money The last episode from the “Money Reimagined” series looks at the battle for the future of money with insight from former U.S. Treasury Secretary Lawrence Summers, former Chairman of the CFTC Christopher Giancarlo and Binance CEO Chaoping Zhao. You can get the full four part series here.   'We Need 30 Different Words for Censorship' The latest episode of Let’s Talk Bitcoin features Stephanie Murphy, Jonathan Mohan, Andreas M. Antonopoulos and Adam B. Levine to discuss censorship, fascism and what we learned from Edward Snowden. WHO WON #CRYPTOTWITTER Blockchain Bites A newsletter from CoinDesk See previous editions Copyright © 2020 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences here.

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0x's ZRX Token Surged 67% in May to Become Month's Top Performer

The decentralized-exchange token's gains were six times those for bitcoin

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June 1, 2020 Sponsored by By the CoinDesk Markets Team If you were forwarded this newsletter and would like to receive it, sign up here.  TODAY: Prices: Bitcoin (BTC) $9,544 (+1%) | Ether (ETH) $237 (+2.3%) The ZRX token from 0x, a developer of software protocols for decentralized exchanges, surged 67% in May to become the month's best performer among top digital assets. Bitcoin rose 11% during the period.  News and analysis: Why family offices should have bitcoin in their portfolios, and can an old trick solve bitcoin's "privacy problem"? MARKET MOVES The ZRX token from 0x, a developer at the forefront of the fast-evolving landscape for decentralized exchanges, surged 67% in May to become the month's top-performing digital asset.  Basic Attention Token (BAT) had the second-best performance, with an 18% return in May, according to CoinDesk Research.  Bitcoin ranked third with an 11% gain for the month. The largest cryptocurrency by market value traded in a range between about $8,500 and $10,000 for most of May, ending at about $9,500. Source: TradingView.com Among the worst-performing tokens was XRP from Ripple, which slid 5.6% on the month to 20 cents. Bitcoin SV (BSV) lost 7.4%, falling to $192.  ZRX's May surge took the token's price to the highest in almost a year, though the current price of about 32 cents is still down some 87% from the all-time-high of $2.50 reached in January 2018, according to data provider Messari.  Data source: Nomics.com The 0x project, which is led by co-founder and CEO Will Warren and raised the equivalent of $24 million in a token sale in 2017, specializes in software that can be used to create decentralized exchanges – essentially automated trading systems that can be maintained and operated with distributed computing networks.  0x upgraded its protocol in December of last year to aggregate liquidity from on-chain sources like Uniswap, Oasis and Kyber. At the time, analysis firm Delphi Digital described the change in a report as a "step in the right direction."   In a March follow-up report, Delphi noted that the protocol had seen steady trade-volume growth since the upgrade took effect, mostly driven by non-fungible tokens (which can be given different attributes and are used for crypto collectibles) trading on TokenTrove.  Last month, 0x announced a second-quarter beta launch of a new trading platform, Matcha, that the company says has been "built to feel natural, intuitive, and highlight the convenience of peer-to-peer crypto trading."  Denis Vinokourov, head of research for the crypto prime broker Bequant, said in emailed comments that the token may be getting some support from its weekly staking payouts – which are rewards for holding tokens, akin to interest. According to Bitcoin Insider, the 0x community voted May 7 in favor of a proposal that would cut the time period between staking payouts from 10 days to seven.  And the ZRX token enjoyed a steep one-day pop earlier this month when Ethereum founder Vitalik Buterin remarked that 0x was "one of the projects he wants to try out," according to the publication.  – Bradley Keoun, Senior Markets Reporter   SPONSORED BY BITSTAMP Bitstamp is the original global cryptocurrency exchange. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools to execute your strategy. Join over four million traders and download the Bitstamp app or visit Bitstamp.net/Pro to get started today! Learn More TWEET OF THE DAY BITCOIN WATCH BTC: Price: $9,544 (BPI) | 24-Hr High: $9,635 | 24-Hr Low: $9,394 Trend: Bitcoin jumped over 8% last week, erasing a major portion of the double-digit price drop seen in the preceding week.  The outlook, however, remains neutral with the cryptocurrency still trapped in a 3.5-week-long narrowing price range, or contracting triangle, as seen on the daily chart.  A UTC close above the triangle resistance at $9,835 would indicate a resumption of the rally from the March low of $3,867 and open the doors to re-test of the February high of $10,500. Alternatively, a move under the lower end of the triangle at $8,890 would confirm a bearish reversal and potentially allow a test of the 200-day average at $8,070.  Some chart analysts argue that the longer duration charts (monthly and weekly) have turned bullish. "Great month for Bitcoin, as it broke above previous resistance," tweeted popular analyst Josh Rager after the cryptocurrency ended Sunday at $9,446.  Meanwhile, on the weekly chart, the cryptocurrency has cleared the resistance of the trendline falling from June 2019 and February 2020 highs. Add to that a golden crossover on the daily chart and the path of least resistance appears to be to the higher side. As such, the cryptocurrency may end the 3.5-week-long contracting triangle with a bullish breakout.  Rager, however, warned that the bullish May close could turn out to be a trap for buyers and stronger evidence of a bull revival would be a weekly close above $10,713.  Further, the cryptocurrency fell 2.5% on Sunday, forming a bearish "inside day" candle and aborting the upward move from last Monday's low of $8,630. Technical traders usually wait for confirmation of a trend change in the form of a negative follow-through to the inside day candle, meaning, a stronger selling pressure could emerge if prices drop below Sunday's low of $9,370 over the next 24 hours.  – Omkar Godbole, Markets Analyst   WHAT'S HOT? Why Family Offices Should Consider Digital Assets for Their Portfolios (CoinDesk) Blockchain-based digital assets can be an alternative for investors hoping to reduce reliance on a failing traditional financial system, writes Constantin Kogan, a venture partner at BitBull Capital. Stablecoins Are the Bridge From Central Banks to Consumer Payments (CoinDesk) Central bank digital currencies present obstacles to their own, inevitable implementation. However, stablecoins could be used to "bridge the gap" between government control and inefficiencies in U.S. payment systems.  Donald Trump Is Creating Twitter And Facebook’s Worst Nightmare (Forbes) Trump is going after social media giants Facebook and Twitter, having signed an executive order limiting their publisher privileges. This only furthers the case for a decentralized blockchain alternative, writes Billy Bambrough.   An old privacy trick could solve Bitcoin’s privacy problem (Decrypt) An old protocol created by Greg Maxwell has been given a new design that could solve bitcoin’s "privacy problem." Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. Copyright © 2020 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences here.

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¿Bitcoin podría valer un billón de dólares?

Jesse Powell, CEO de Kraken, aseguró durante una conferencia de Pantera Capital que Bitcoin podría alcanzar los mil millones de dólares con una...

CEO de Kraken: Bitcoin debería valer mil millones de dólares Jesse Powell, CEO de Kraken, aseguró durante una conferencia de Pantera Capital que Bitcoin podría alcanzar los mil millones de dólares con una condición. Sí, has leído bien. El CEO de Kraken, Jesse Powell, aseguró que Bitcoin podría valer mil millones de dólares si las personas comprendieran la revolución en curso creada por las criptomonedas. Jesse Powell, CEO de la cripto exchange con sede en Estados Unidos Kraken, compartió su opinión respecto a cual debería de ser el valor de Bitcoin durante una conferencia organizada por Pantera Capital... Leer más Buenas noticias: Estamos en el día 1 de Bitcoin El BTC lleva poco más de 11 años de vida, y ya nadie duda que ha venido para quedarse. Ahora bien, ¿Es posible que estemos en el día 1 de Bitcoin?... Seguir Leyendo ¿El próximo paso de SpaceX es enviar Bitcoin a la Luna? Si el primer paso de SpaceX de Elon Musk ha sido enviar por primera vez astronautas al espacio como empresa privada... Seguir Leyendo @CriptoTendencia.com todos los derechos reservados

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