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Crypto Space Over The Past Week From 2 To 8 Of July, 2018

At the end of the week, we resume everything that the crypto community talked about over the past seven days. This week Binance sold one Syscoin for 96 bitcoins, Bitmain estimated at $ 12 billion, and Viber announced plans to launch the Rakuten cryptocurrency in Russia.

Top news

June 29, in network appeared a text that allegedly wrote Satoshi Nakamoto himself . He is declared as an introduction to the book about the origin of the cryptocurrency. The passage was rather ambiguous in the cryptocurrency community, because Nakamoto did not provide any convincing evidence of his authorship, and many details in history can be learned from open sources.

Binance cryptocurrency exchange, which expects to receive $ 1 billion in profit this year, had to suspend trading after selling one Syscoin for 96 bitcoins. Later, the Syscoin team confirmed that it had detected atypical activity in the detachment, but claims that it was not compromised or compromised in any way. However, the developers of Syscoin argue that they do not know what could be associated with such a huge price, and the exchange did not comment on the reasons for this incident.

According to the results of the second round of fundraising, Bitmain is valued at $ 12 billion. The local news Caixin reported that this round brought in from $ 300 million to 400 million. The largest investors were the American hedge fund Coatue and Chinese Sequoia Capital.

Tezos team has launched a full-fledged platform, but warned that this is a beta version, so problems are possible. In turn, investors began to sell the project's tokens immediately after listing on the crytpocurrency exchange. This is indicated by market data showing a wave of sales that took place after the launch of the beta platform Tezos at the beginning of the week. According to CoinMarketCap, the price of XTZ fell 34% on Monday (to $ 2), and on Friday, July 6, it reached its minimum, dropping by 74% ($ 1.10).

The head of Viber Media, Dazhmel Agaoua, said on July 3 about plans to launch the Rakuten cryptocurrency in Russia within a year. The company is researching Russian legislation in order to understand the nuances of launching cryptocurrency in the Russian jurisdiction. According to Agahua, this requires obtaining a license from the Central Bank.


At the moment more than a thousand cryptocurrency projects have "died." This assessment is based on the data of two sites - Coinopsy and DeadCoins. At the same time, the volume of ICO reached $ 13.7 billion in 2018, which is twice the corresponding figure for the whole of 2017.

According to the latest report of the American company CipherTrace, dealing with cybersecurity, in the first half of 2018 criminals stole more than $ 750 million from cryptocurrency exchanges - three times more than for the entire 2017th. Over the past two years, cybercriminals managed to withdraw $ 1.2 billion from cryptocurrencies from trading platforms.

Specialists from BitMEX Research analyzed two popular stablecoins - BitUSD, based on BitShares, and DAI, based on MakerDAO, to research the mechanisms for preserving the value of these two cryptocurrencies. The study showed that most investors trade a certain asset at a certain price simply because they themselves take such a price as actual.

Zcash CEO, Zooko Wilcox, earns 2033 ZEC per month - about $ 305,000, or $ 3.65 million per year. Salary, shown by Wilcox on June 26 at the Zcon0 presentation, was the cause of many people's dissatisfaction in the community, although in the Zcash code this amount was originally registered (this is called the reward of the founders).

Cryptocurrency Exchanges

Kraken criticized Bloomberg's article on the manipulation of the exchange with Tether. In its blog site accused the authors of the article of incompetence and the creation of provocative headlines.

One of the oldest Chinese cryptoexchanges BTCC announced that it is resuming its trading platform, and also intends to proceed with the release of its own tokens.

Coinbase reported that its new depositary service last week made its first contribution. The service is aimed at working with institutional hedge funds and other clients able to make a contribution of at least $ 10 million.

Chinese cryptocurrency exchange Huobi confirmed that on July 5, its new trading platform in Australia is starting to work. At first, it will offer for Australian dollars Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash.

Swiss exchange operator SIX on July 6 released a plan to create "an integrated infrastructure that will allow trading, making payments and storing funds in digital assets." According to the representatives of the exchange, this model will "create a safe environment for emissions and trade" popular cryptocurrencies such as bitcoin, as well as tokens of ICO-projects.


According to Techradar, in July we should expect a further drop in prices for videocards on a world scale. Experts attribute this primarily to a drop in interest in mining. Another factor is the oversaturation of the market with low-cost components, which is why manufacturers are not in a hurry with the release of new models.

Japanese Internet giant GMO has launched a new, modernized model of its 7-nm ASIC-miner. The new model, GMO miner B3, promises to show a higher hash in the mining of Bitcoin and Bitcoin Cash and is sold at the same price as the previous one - $ 1999. The miners sold at the declared price will arrive to buyers in November, and at the customer's request the B2 model can be replaced free of charge for B3.


The Iranian authorities blocked access to cryptoexchange services: Binance, Blockchain and LocalBitcoins. In recent days, the government without warning blocks access to the cryptocurrency exchanges, although formally cryptocurrencies in Iran are not banned.

Japanese media reported that a citizen of this country was sentenced to a year in prison with a suspended sentence of three years for using cryptographic software - hidden mining. This verdict is the first of its kind in Japanese legal practice.

The Internet court of the Chinese city of Hangzhou on June 29 agreed that the defendant should prove his innocence with the help of a detective. According to the published excerpt from the court's decision, in the trial the court was of the opinion that, since the blockchain technology is involved in the case, a balanced and unbiased approach is needed. This decision demonstrates the serious support of blockchain technology in China at the official level.

President of Uzbekistan Shavkat Mirziyoyev signed a decree "On Measures for the Development of the Digital Economy in the Republic of Uzbekistan". The document states that the "cryptocurrency transactions carried out by persons who have received the relevant license are not subject to the provisions of the law on currency regulation": operations involving the circulation of cryptocurrencies will not be taxed, and the revenues received will be included in the taxable base.

The Parliament of Malta adopted three laws establishing the legal framework for blockchain technology: the Law on New Digital Technologies, the Law on New Technologies and Services, and the Law on Virtual Financial Assets.

Other events domain, whose owner Matt Blaze in the past stubbornly refused to sell it, yet found a new owner in the face of the company Monaco. How much the buyer paid Blaise, is not reported. Monaco is known for its MCO token and Visa debit card, secured by a cryptocurrency; after buying a domain, the company changed the brand to

Bitcoin Gold (BTG), one of last year's forks of bitcoin, on Thursday, July 5, held its first planned hardfork. The developers of Bitcoin Gold called it the need to reduce the risk of attack 51%, as well as to protect the coin from ASIC-mining.

Internet entrepreneur Kim Dotcom lost another round of struggle against his own extradition in the United States. Now his case will be considered by the Supreme Court of New Zealand. Also on July 6, the lawyer of the Russian expert on cryptocurrencies Alexander Vinnik, Timofey Musatov said that the Greek court tried to take a closed decision to extradite his client to France.

The ALTO team of NEO, the "Chinese ether", announced its intention to decentralize the network. Now altcoin start on eight nodes and intends to bring their number to ten, but this is not enough for real decentralization of the network. For comparison, in the etherium the number of nodes is almost 17,000.

Western Union, the world's largest money transfer service, has developed and patented a method to increase the reliability of electronic payments. According to the patent, the system is conceived as a universal tool that will be able to interact with most electronic networks. The document specifies that "in certain embodiments of the idea," an electronic payment network can be a cryptocurrency network: bitcoin, litecoin or peercoin "(do not forget that the application was filed in 2016).