"People may hear your words, but they feel your attitude.
- John C. Maxwell
Another week down, another pat on your back! 👋 After yesterday's crypto market massacre, thank god we now have the weekend to catch our breaths. 😅
Today in history (1995), artist Enrique Iglesias released his first album, "Enrique Iglesias". 😂
In today's newsletter, we will be covering Binance launching its margin trading platform,Tyler and Cameron Winklevoss predicting that FANG companies will offer digital currencies by 2021 and Canada updating its anti-money laundering rules.
Today, we will also be covering Waves (WAVES) in our weekly deep dive! And in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! Plus we a very special announcement below, so be sure to check it out!
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Small rebound 🏀
Over the last 24 hours, crypto markets saw a slight upward correction after Thursday's steep drop. Total market capitalization currently stands at ~$317.6 billion, with most coins seeing small gains in the ~1-4% range. 📈
BTC Is currently trading at ~$11,700, up ~1.2% over yesterday, with BTC dominance at a new 20-month high of ~65.1%. BTC is still trading above its 21-day EMA line, which seems to be providing it with some support. RSI level is at ~55.
Another one bites the dust 😣
Japanese crypto exchange Bitpoint has suffered a $3.5 billion yen (~$32 million) hack involving Bitcoin (BTC), XRP (XRP), Litecoin (LTC), Ethereum (ETH) and 3 other cryptocurrencies. 2.5 billion yen (~$23 million) of which belonged to customers and 1 billion (~$9.2 million) to the exchange. 💸
According to Bloomberg, following news of the incident, shares of Bitpoint's parent firm Remixpoint Inc. dropped 19%. Due to the "glut of sell orders”, Remixpoint Inc.'s shares were untradable in Tokyo as of 1:44 p.m on 12 July. 🤦♂️
According to Bitpoint, their cold wallets were not compromised.
Step by step 👣
According to tech news outlet CNET, the United States Senate committee of commerce, science and transportation has recently approved the Blockchain Promotion Act. 💪
This bill moves the U.S. closer to a blockchain definition at the federal level and establishes a blockchain working group within the Department of Commerce. Members of the working group include representatives of federal agencies that could use blockchain and non-governmental stakeholders.
Within one year from its establishment, the working group will submit to Congress a report recommending a definition of blockchain. The report will also recommend research to be conducted on Distributed Ledger Technology’s (DLT) impact on electromagnetic spectrum policy, and possible use cases by the federal agencies. 👌🏻
Penetrating the mainstream 🤜
American football team, The Miami Dolphins, have teamed up with the Litecoin Foundation to accept cryptocurrency payments. The partnership, which begins 5 September (the start of the 2019 NFL season), will see the Dolphins accept Litecoin (LTC) as their “official cryptocurrency.” 🙌
Fans at home games at the Hard Rock Stadium will be able to pay for the Dolphins' 50/50 raffle tickets with LTC and BTC. Half of the proceeds will go to the Miami Dolphins Foundation and its charitable causes. Payments will be facilitated by their third partner, Aliant Payments. 😬
According to the creator of Litecoin and managing director of the Litecoin Foundation, Charlie Lee, this "collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible". He sees this as a powerful way to "raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale". 🚀
Waves is a blockchain platform in which users can create their own customized tokens, perform crowdfunding campaings and buy/sell/trade tokens.
Founded in 2016 by Russian entrepreneur Alexander Ivanov, the Waves platform launched shortly after a $16 million ICO campaign.
Somewhat similar to Ethereum, Waves' mission is to offer the world a shared infrastructure equipped with easy-to-use and highly functional tools that will make blockchain accessible to every person or organization.
Why people love it 😘
Waves have been picking up some steam as a viable ICO platform.
The Waves platform is equipped with a decentralized exchange, WAVESDEX, that allows for low fee and fast token/ fiat trading within the Waves platform.
Waves has some good partnerships, such as Deloitte, the Russian Central Securities Depository and Burger King (Russia). It also has strong ties with several Russian banks, allowing them to establish necessary and very beneficial fiat gateways so that the platform allows for trading against fiat currencies like the USD and EUR.
Why people doubt it 🤔
The blockchain platform space is already crowded and saturated. It will take much to stand out.
The Waves platform isn't the most user-friendliest of interfaces. It needs to improve on this to increase adoption rates.
Everybody! Stop what you're doing and take notice! 🛑
Come 12-13 Nov this year, CoinMarketCap will be hosting our first ever "CoinMarketCap Global Conference" in Singapore! Come take part in this historic event.
Quick, join the waitlist now! Can't wait to see ya! 😀
Other news 📰
U.S. president Donald Trump recently tweeted, “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air”, and that “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” 🤦♂️
BitMEX has released the “tapes” from a 3 July debate between CEO Arthur Hayes and NYU Professor and so-called Dr. Doom, Nouriel Roubini. The incident was dubbed "Tangle In Taipei". 😬
Fidelity Digital Assets, the crypto-focused branch of Fidelity Investments, is looking to hire 10 new blockchain professionals including a vice president, director, leading software engineer, blockchain software engineer, product designer, and others. 🤗
Crypto calendar 📅
16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
Why or why not? What are your plans for the weekend? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "I agree with the Winklevoss twins' prediction that all 4 FANG companies (Facebook, Amazon, Netflix and Google) will offer digital currencies by 2021.""
The average vote was a 9.
"Why or why not?"
To much money involved to pass on it - Yeah, they have the potential to be large cash cows. 🤑
Crypto is still new and once more people realize it is the future of money, it will be accepted by more and more businesses. - Agreed. 👍
2021 might be an aggressive timeline, but ultimately...why wouldn't they? Out of all of them, I definitely think Google will roll something out soon. They dip their toes into everything. - Yeah I agree. Imagine if there was a Google coin that can be sent via the chrome browser. 😲
FOMO - Industrial grade FOMO. 😂
I agree, what makes little sense to me however is, why they just don't use crypto available, but for many reasons, i can see them doing it. But I don't doubt they will have their own coins soon. - Because using available crypto won't give em meaningful control and make em much money. 🤑
Sounds completely reasonable to me. They may have their own digital tokens but if not I am sure they will integrate their payment services with others. - I think 2021 is well within the realm of possibility, considering how much resources they have and if they were to briefly divert their attention to it. 🔨
It is a future. - It is THE future. 🤖
The likes of FB don't go into something this big without ensuring their home work is done properly. Once they movebin, it won't be long ( and in crypto, long is 3 montha ) before we seeing them all get on board. - FB def lit a fire under everyone's butts haha. 😂
Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
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