$1.6 Billion: All-Time ICO Funding Climbs as Record $500 'Million' Invested in July
The impressive figures were boosted by a July in which blockchain projects raised more than $540 million, making it the third month in a row in which a new monthly record was set.
Perhaps in response, traditional venture capital investments in blockchain companies have slowed down in the last two months.
After peaking in May with a then-record-breaking $103 million funding round for banking consortium R3, traditional blockchain investments only raised $6.12 million in July.
Full story at http://bit.ly/2hu4elA
Source: CoinDesk
Bitcoin Cash Price Poised to Plummet Once Network Stabilizes
Two days after the chain split that resulted in the launch of Bitcoin Cash, the fledgling coin is quite an unusual position. The Bitcoin Cash network is almost non-functional due to extremely slow block times, inherited as a result of Bitcoin’s mining difficulty at the time of the fork. The token itself is quite valuable—trading for over $400—but only for a small fraction of the people who own them.
No major exchanges have Bitcoin Cash deposits enabled, which means that the only people who can sell Bitcoin Cash are the ones who had funds on certain exchanges before the split. Those exchanges (including Bitfinex and Kraken) have credited their users with the appropriate amount of Bitcoin Cash and have enabled trading pairs.
Not all exchanges will be launching Bitcoin Cash trading pairs. Of the exchanges that don’t trade Bitcoin Cash, some will be crediting users and allowing them to withdraw their Bitcoin Cash. Others may choose not to even acknowledge Bitcoin Cash, and may not credit their users with the tokens.
Full story at http://bit.ly/2huLlyL
Source: CoinTelegraph
Troubled BTC-e Exchange Claims Control of Databases and Bitcoin Wallets
A forum account tied to the cryptocurrency exchange BTC-e has issued a new statement, claiming to be in control of databases and bitcoin wallets days after the site's domain was seized by law enforcement agencies.
As CoinDesk reported, BTC-e – one of the longest-running and most secretive of the world's bitcoin exchanges – was targeted in a broad international police effort last week.
Authorities in Greece moved to arrest Alexander Vinnik, who was accused of operating BTC-e and laundering billions of dollars with bitcoin over a multi-year period. U.S. prosecutors later unveiled a 21-count indictment that included a $110 million civil fine levied against BTC-e itself.
However, just days later, BTC-e's account on the Bitcoin Talk forum came to life. In that initial message, the exchange promised to return funds to users, though no clear deadline was offered at the time. It further denied that Vinnik was the mastermind behind the exchange or even an "employee of our service".
Full story at http://bit.ly/2huB59Z
Source: CoinDesk
Bitcoin Price Eyes $2,900, Bitcoin Cash Crashes Towards All-Time Lows
Bitcoin Cash (BCH) continues to fall for a second day as Bitcoin (BTC) posts gains and other cryptocurrencies remain stable.
Cross-exchange data from Coinmarketcap shows BCH is still the fourth-largest cryptocoin by market cap, despite falling 35 percent in the past 24 hours.
The losses continue BCH’s downward trend since its price spike Aug. 2, which saw the Bitcoin fork reach a high of $727, Coinmarketcap data shows.
Current prices revolve around an all-time low of $285, yet spreads on exchanges vary considerably.
Full story at http://bit.ly/2huB6uz
Source: CoinTelegraph
GDAX Pledges to Enable Bitcoin Cash Withdrawals By 2018
GDAX, the cryptocurrency exchange operated by Coinbase, has announced that it will launch support for Bitcoin Cash (BCC or BCH) sometime later this year.
In a new blog post, GDAX general manager Adam White said that, after initially opting to not support the digital asset that powers the controversial fork of the bitcoin blockchain, the exchange has "examined all of the relevant issues" and decided to add support.
Created this week when a group of miners broke away rom the main bitcoin blockchain, proponents of Bitcoin Cash switched to a new, incompatible software that changed the network's rules, creating two distinct transaction chains.
Though no clear target date was disclosed, White said that GDAX would integrate Bitcoin Cash by January 1, 2018 – though he cautioned that this would only take place "assuming no additional risks emerge during that time."
Full story at http://bit.ly/2huLmmj
Source: CoinDesk
LedgerX Will Transform Cryptocurrencies
The Commodity Futures Trading Commission granted LedgerX -- a cryptocurrency trading platform -- registration as a clearing house for derivatives contracts settling in digital currencies. This indicates increasing official acceptance of cryptocurrencies. More important, the move could redefine them.
Derivatives clearing houses catalyze enormous economic change. The creation of agricultural futures clearing houses in the mid-19th century American West transformed a sparsely populated backwater into ground zero for the second Industrial Revolution. In the same place exactly 125 years later, on April 26, 1973, financial options clearing houses gave birth to the modern global derivatives economy.
The key features of derivatives clearing houses are centrally cleared, collateralized, asset-settled contracts with mark-to-market margin. Existing cryptocurrency futures and options have none of those characteristics, 1 they are merely side bets. 2 LedgerX has the first three, which may be enough to transmute cryptocurrencies.
Consider cryptocurrency renters, users and investors. Renters buy cryptocurrency for a transaction, say an international payment to someone in a financially repressed country. In effect, they pay transaction fees for payment processing services. Users both pay and receive in cryptocurrencies, and maintain balances for transactional purposes. Investors buy cryptocurrencies but don’t use them.
Full story at https://bloom.bg/2huLn9R
Source: https://www.bloomberg.com
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