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Crypto Space Over The Past Week From 13 to 19 Of August, 2018

At the end of the week, we resume everything that the cryptocommunity talked about over the past seven days. This week XRP dropped on 92% of its record high last year, Tether added 50 million USDT tokens, and the Turkish lira became more volatile than bitcoin.

Top News

Ten years ago, on August 18, 2008, Satoshi Nakamoto and Marti Malmi registered the domain, which is still one of the best (if not the best) sources of information about the main cryptocurrency in as many languages ​​as possible.

Bitcoin overcame gold by the average intraday volume of transactions. This happened even in the second quarter of 2017, after the world's leading cryptocurrency reached parity with the price of an ounce of gold, and continues to this day, despite the decline in bitcoin in recent months.


The odious Internet pirate and bitcoin enthusiast, Kim Dotcom, urges all to invest in gold and bitcoins as every year the American government adds $1 trillion to a public debt. This debt will never be paid. According to Twitter, the debt will destroy the USA and will lead to the world economic collapse.

Economist and director of American Institute of Economic Research, Jeffrey Tucker, condemned the banking elites and governments for their long-standing monopoly on the money that led to "world wars, depression and inflation, a huge public debt and the emergence of totalitarian states that learned to pave their way to power and wealth with the help of a printing press."

In the online broadcast in the Q & A format the popular bitcoin writer, the author of books "Mastering Bitcoin" and "Internet of Money", Andreas Antonopulos, has said that he doesn't support bitcoin-ETF. Antonopulos doesn't see an urgent need in start of this tool. According to him, it is about "the multi-billion industry in which you don't own bitcoins".


The head of BitMEX, Arthur Hayes, considers that Ethereum price behind $100. He called Ethereum "shitcoin which price supported with ICO" — at least since the beginning of 2017. All investments have come from venture capitalists who, according to him, eventually capitulate in the "bear" market and will sell Ether and ERC20 tokens at any price.

According to a new study conducted by Crypto Fund Research, there are 466 cryptocurrency investment funds in the world today. Based on the current indicators, the researchers suggest that for the entire 2018 there will be 165 new cryptocurrency funds, which slightly exceeds the same indicator in 2017, when 156 organizations appeared. Joshua Gnaizda, Crypto Fund Research co-founder, finds the increase in the number of hedge funds surprising given the fall in prices for cryptocurrencies.

According to a new study RWTH Aachen University (Germany), the Coinhive browser mines 1271 XMR per month. According to researchers, Coinhive produces about 1.18% of all blocks of Monero. The developers of the miner receive 30% of each coin. The authors of the study say that most commissions are sent to a small group of people.


TRON cryptocurrency was added to the Singapore cryptoexchange BitBox. On this occasion, the platform announced an airdrop of 9,000,000 TRX tokens, and the TRON user community chose BitTorrent as one of the 27 "super-representatives" that will support the network.

Ripple and Bittrex, two the largest cryptocurrency exchanges in the US, agreed that the latter will use the XRP-platform for international payments. Also, Ripple announced a partnership with Bitso and cryptocurrency exchanges.

Facebook representatives denied reports that its task force is considering the launch of a crypto currency project in cooperation with Stellar. The company does not intend to create anything on Stellar's protocol.

Cryptocurrency Exchanges

The cryptocurrency exchange Binance announced launch of educational platform "Binance Academy" which help users to expand the knowledge in the field of a blockchain and cryptocurrencies. The educational initiative will allow to solve an absence problem on the Internet of the uniform knowledge base about a blockchain and cryptocurrencies.

Chinese company Huobi together with partners launches the cryptocurrency exchanges in five countries: in Russia, on Philippines, on Taiwan, in Indonesia and Canada. Partners "will receive in the order the systems of integration of orders, the wallets system, a possibility of management of assets and clearing systems belonging to Huobi".


The Bank of Montreal and the Ontario Teachers' Pension Plan Board have tested a debt deal with the Canadian dollar based on blockchain technology. During the pilot, the bank sold annual pension certificates to the pension fund with a floating interest rate of $ 250 million Canadian dollars (approximately $ 190 million). The block was used to mirror the transaction.

Two new patent applications from Microsoft hint that the corporation seeks to improve the blockchain solution, using the safe environment of performance. The system of TEE will create an environment in which "repeated calculations for the purpose of verification aren't required": previously authorized structure will be able to transfer directly "the updated official state" to this or processed transaction.

The IBM company has submitted the patent application for the system of identifiers of transactions which will be based on blockchain nodes. The system described in the document provides extraction of data from blockchain nodes for the purpose of identification of various types of transactions. Any transaction can store valuable information on the nature of transactions is appointed.

The blockchain startup Axoni has completed a financing of series B in which has raised funds from Goldman Sachs and Nyca Partners for $32 million. Representatives of the American company have said that they plan to use these means for continuation of development of the technology of synchronization of data and also language for smart contracts of AxLang which is compatible with Ethereum. The startup plans to increase quantity of the products relating to his own audited blockchain under the name AxCore.


Released by Diar report showed that fraudulent ICO projects - exit scams - for all time cost investors about $ 100 million, and more of stolen funds (approximately $ 68 million) fell on the schemes that the attackers turned in the first two weeks of this August. The largest project of this kind, supposedly organized by the Chinese company Puyin Blockchain Group in Shenzhen, raised $ 60 million in three ICO's, after which it drew the attention of the supervisory authority, the State Administration of Market Regulation (SMRA).

The Indian police arrested two more citizens involved in the fraudulent project GainBitcoin. Their arrest continued a series of detentions in Delhi, where police raided a major mining farm. Two suspects were engaged in promoting a scam-project, estimated at $ 300 million, among thousands of investors across India. According to the policeman, the detainees received funds from hundreds of people, after which they fled.

Other events

American investors can buy bitcoin Exchange Traded Notes (ETN) using online brokers, banks or consultants. Such a proposal gives investors, who are afraid of direct investments in bitcoin, the opportunity to enter the market.

The Venezuelan authorities intend to create a central bank for cryptocurrencies. The National Constituent Assembly is preparing to amend the country's constitution, according to which this bank will be mentioned in the main law along with a new "court of constitutional guarantees" whose powers exceed the powers of the Supreme Court.