Cryptocurrency

Robinhood CEO Vlad Tenev, May Have to Testify Before the US House Committee Over GameStop Allegations

Vlad Tenev, Robinhood CEO, may have to appear before a US House committee meeting over GameStop allegations. The hearing will investigate the firm’s trading restrictions. 

A news post on coindesk stated that Vlad Tenev, Robinhood CEO, may have to be present before the US House Committee on February 18th this month. The hearing will be about allegations about the trading platform working with hedge funds to stop trading on GameStop GME stock.

A report was published on Politco on Monday this week mentioning Tenev, who will take part in the virtual hearing before the US Congress. The virtual hearing is titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.”

Nick Vadera is a stocks and crypto trader, Bitcoin mining, and investment consultant, had this to tweet on Robinhood CEO May Testify Before US House Committee Over GameStop Allegations.

The hearing which the Robinhood CEO may have to appear will be chaired by Maxine Waters, who is a Congresswoman (D-California). Waters has expressed her concerns about the manner in which the firm went about halting the trading. 

The hearing is scheduled to begin at 17:00 UTC. Maxine Waters has said that she is deeply concerned about whether the firm restricted trading. She points out that there might have been a collaboration between Robinhood and hedge funds.

Waters is said to have made this comment during an interview with MSNBC. Robinhood was able to successfully limit traders from buying GME stocks that were targeted by the Reddit group, WallStreetBets.

The Reddit group wanted to cause in what is known in the financial market as a short squeeze. Vlad Tenev has denied any wrongdoing by his firm. Tenev said that they did because they wanted to protect customers in the market where the demand was massively outdone by the obligatory deposits to clearinghouses.

Vlad Tenev denied his platform was manipulated by any participant. The decision was a technical one. There is nothing much to read into it. 

Tenev’s comments are not satisfactory because it seems to have drawn ire of retail investors. They want compensation from Robinhood. Whether the Robinhood CEO will budge is for time to say.

The Raven’s Dispatch – July 31, 2018 – Winklevoss Bitcoin ETF Petition Rejected by SEC

Winklevoss Bitcoin ETF Petition Rejected by SEC – Crypto world curses the suits

You might be asking, “What’s all this ‘ETF’ business about and why is it so important”? Well you’re in luck because we posted a full article last week on how ‘Bitcoin ETF Approval Could Be Huge For Crypto‘.Tl;DR Exchange Traded Funds could be a HUGE deal for Bitcoin and cryptocurrency in general if and when they get approved.

But what is an ETF, exactly? Well an ETF is defined as a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. This means that the fund can be traded like a common stock and the ETF also experiences price changes throughout the day as they are bought and sold. Nifty, and a great investment vehicle for the masses. Unfortunately the door was slammed shut by some dudes wearing suits at the SEC. On to The Dispatch!

The overall cryptocurrency market had steady decline in the past week moving from $292bln to $286bln representing a 2% decline since the last Dispatch. As you can see below, the pretenders suffered most from BTCs decline.

Livecoinwatch.com

Bitcoin (BTC): BTC had a chaotic week shaking out the weak and timid (hahaha thats me) surging to $8k then dropping to $7,800 before finally settling on $8,000.  Week to week that represents a near 0% change. Never a dull week in the crypto world, huh fam?

Ethereum (ETH): Was holding on until today when it suffered a daily drop of 5% adding to it’s weekly loss of 7%.  ETH has struggled to return to the $500 mark over the past month, and we don’t expect that to change all too soon. ETH is currently sitting at $436 as of this post.

OMISEGo (OMG): OMG is the token attributed to the OmiseGO platform, an offshoot of the well-established Omise e-commerce payment company based in Thailand.

Omise is kind of like the PayPal of SE Asia. The company acts as a payment gateway allowing people to transfer money to third party bank accounts, and the underlying service is simply value exchange. That’s a lot of features including a decentralized exchange, a white label SDK (software developer kit for making apps), and a clearinghouse technology product..to name a few.  It’s a promising project with strong fundamentals.

As you can see in the graph below OMG had it’s parabolic phase at the start of 2018 but has slowly retraced to December 2017 support. OMG reached an ATH of $24.71 in January and is now finding support at $6.81.  That’s a 75% retrace! Hope you didn’t buy the top.

If you want to know more about OmiseGo check out our guide!

WHAT’S NEW AT CRYPTO IS COMING

SEC Commissioner protests SEC’s rejection of Winklevoss Bitcoin ETF – The Winklevoss Bitcoin ETF was rejected….again.

Lightning Network: How far away is it? – We’ve talked about the Lightning network before, but now we are seeing significant progress into the second layer scaling solution made by Lightning Labs  that we had to revisit it.

Lisk Invests $1 Million in Lisk-Focused Blockchain Incubator – In an effort led by Lisk’s community members, the first-ever Lisk-based blockchain incubator, Elite Center, was announced in China earlier this month.

The Ox Ecosystem Visualized – The 0x protocol is a favorite DApp for many cryptocurrency enthusiasts. Decentralized exchanges have the potential to fundamentally change how people interact with market places and drastically minimize counter-party risk. the 0x protocol is being used for much more than decentralized exchanges (DEXs) and has the potential to impact a wide variety of industries.

Millennials will love Cryptocurrencies – Really interesting presentation from Fundstrat on the economics of Cryptocurrencies. Millennials will lead the way. Millennials constitute people that are born between 1981 and 2000. That’s 96 million people, the largest generation in history, dwarfing baby boomers (80 million) and GenX (65.8 million).

Cryptocurrency App Checklist for 2018: Take your Game to the Next Level – In this cryptocurrency app roundup, we take you on a journey through the information platforms keeping traders, enthusiasts, developers, speculators and casual observers alike clued into the world of virtual currencies.

Exclusive: IOST Opens Up About Its Recently Launched Referral Program – A week ago IOST launched what’s been called ‘the largest referral program in the history of cryptocurrencies.’ Some Reddit users have claimed the company is making a play for increased market share and visibility, in a similar manner to what Tron did not so long ago.

Ernst and Young Acquires Crypto Asset Accounting Tool – Ernst & Young has recently acquired a number of technological assets and their respective patents from Elevated Consciousness Inc., a startup actively working on developing new solutions for the crypto asset industry.

Institutions Are Coming! But What Does It Mean? – Institutional money coming to crypto has become almost a kind of prayer, touted by Twitter influencers and news outlets alike. Make no mistake – all the signs point to a major influx of institutional investment in the crypto space, with CBOE applying for ETF approval and Goldman Sachs greenlighting Bitcoin futures.

Top DAPPs by users and volume – One of the major innovations that blockchain technology has brought to the table, besides the public ledger and cryptocurrency, is the creation of Decentralized Applications (DAPPs).

You Can Now Become a Citizen of Antigua and Barbuda Using Cryptocurrencies – The Caribbean Islands have taken another step to embrace cryptocurrencies. The government now accepts cryptocurrency payments for its citizenship program.

Beginner’s Guide to Robinhood App – Today we gonna look at this app in detail to know what the noise is all about

Cops Arrest Hacker for stealing $5 million worth of Crypto! – A few weeks ago California police arrested a 20 year old college student for stealing over $5 million worth of cryptocurrencies.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Coinbase announces a new deal to let you pay for your Uber with crypto – Coinbase has today revealed a new partnership that will allow you to pay for physical goods and services from your favourite retailers with cryptocurrencies.

Canadian Bitcoin ATM Company Hits $2M in Daily Volume – Vancouver-based Bitcoin ATM software provider Netcoins has today announced its daily transactional revenue across Canada, Europe and Australia has reached $2M USD (approximately $2.6M CAD) in a single day.

Binance Will Face Tough Competition in South Korea in New Market Expansion – Binance, the world’s largest cryptocurrency exchange, is planning an expansion into South Korea, the third biggest cryptocurrency market behind Japan and the US.

Ethereum Founder Vitalik Buterin: There Is Too Much Emphasis on Bitcoin ETFs – What does Vitalik know about Finance? Pfff.

BITCOIN WILL REPLACE GOLD AND SOAR IN PRICE TO $700,000, SAYS MAJOR INVESTOR – All caps babay, for emphasis. Bitcoin is better than gold “on every front” and could eventually be worth around $700,000, according to an institutional investor. says John Pfeffer. Preach John, PREACH!

Crowd Psychology Driving BTC Prices, Finance Experts Say – According to a survey conducted among finance professionals, ‘crowd psychology’ is the main factor determining the movements of bitcoin market prices.

AMD Sees Q2 Drop in GPU Sales to Crypto Miners – Chip maker Advanced Micro Devices (AMD) said Wednesday that sales of graphics cards (GPUs) to cryptocurrency miners fell during the second quarter.

Telegram Reveals Personal ID Verification Tool for Sharing Data with ‘Finance, ICOs’ – The crypto and blockchain industry’s go-to encrypted messenger app Telegram has released a personal identification authorization tool, according to an official statement published July 26.

New Gallup Poll Shows Only 2% Of US Investors Own Bitcoin, But 26% Are “Intrigued” – The results of a Wells Fargo/Gallup poll published July 27 finds that only two percent of U.S. investors own Bitcoin, but 26 percent are intrigued by it.

Google bans cryptocurrency mining apps from the Play Store – Google has updated its Play Store developer policies to ban several more categories of apps, including cryptocurrency mining ones and apps with disruptive ads, as reported by Android Police.

Coinbase now offering cryptocurrency gift cards for easier real-world spending – Major bitcoin exchange Coinbase launched a feature yesterday that lets its European customers buy virtual gift cards with cryptocurrency.

Thank you for joining us for this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

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The Raven’s Dispatch – July 13, 2018 – $25 million stolen from Decentralized Exchange, Bancor

$25 million stolen from Decentralized Exchange Bancor

Hack Hacking Haxxors

Another day, another hack. It seems like no exchange is safe out there, not even the decentralized type. If you recall DEX Exchanges were supposed to offer greater security due to their decentralized set up. Guess the jury is still out on this one. Whatever your stance so many hackings have taken place it makes you wonder if these exchanges are doing too little to tighten security. Bancor was hacked, again, for $13 million after one of the their upgrade wallets was compromised. The vast majority stolen was Ethereum.

After raising $150 million in their ICO, you would think Bancor would have invested some of that in their security procedures. Read more about it below. Let’s get this dispatch rocking! (I’m trying new lead-ins, ok. Cut me some slack)

The top 5 looks like it’s locked in for the near future. The overall cryptocurrency market dropped week to week from $267bln to $249bln representing a 6% decrease in the past seven days. No drastic moves or bart patters this week even with the Bancor hacking news AND the mining hack. It’s been a rather poor week in the news cycle for our beloved crypto.

Livecoinwatch.com Raven's Dispatch

Bitcoin (BTC): BTC struggled this week and nestled into the $6,200 support, for the time being. 2018 sucks y’all. This represents a drop of 4%, not bad considering the swings many crypto enthusiasts  are accustomed to.

Ethereum (ETH): It’s getting boring watching ETH do what BTC does. Week to week ETH sank 6% $439 as of this post. Ethereum continues to be the poster boy for a gre place to develop DAPPs but other chains and projects are catching up. With Caspers successful release to update Herrumbres economic consensus protocol, things seem pretty hum-drum here.

DASH (DASH): Dashcoin cryptocurrency was created on 18 January 2014 by its developer Evan Duffield and was originally released as XCoin (XCO).  In February of the same year (2014), the name was changed to “Darkcoin.” Moreover, on 25 March 2015, Darkcoin was rebranded as simply “Dash”. Quite the saga, huh?

As it stands, Dash users can now opt for full privacy in their transactions and remain completely anonymous, thanks to Evan Duffield. Dash has three main features: speed of transactions, masternodes and private send. As you can see in 2017 DASH reached all time hish peaking at $1,600 per DASH but like the entire crypto market has retraced to $226 as of this post. Can you imagine how much the Masternode owners must have raked in during that run? Well played to those that got in early and believed in the project.

If you want to know more about DASH check out our guide!

Dashcoin Lifetime

WHAT’S NEW AT CRYPTO IS COMING

Win a FREE copy of ‘An Altcoin Traders Handbook’ – We are giving away 3 copies of Nik’s popular book  ‘An Altcoin Traders Handbook‘. How do you enter to win? Sign up for our newsletter and we will select three winner on Monday, July 16th, 2018. Do it!

Etherpoly.io is launching a new decentralized Ethereum game – Etherpoly.io (OLY) is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities.  It is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities. Read on for more details!

Sleeping Giants of Crypto – While the January crash wiped a huge chunk of market cap off the map with aftershocks rippling through the marketplace ever since, there are a number of projects that have weathered the storm well and continue to show promise for the future. Is your favorite project on the list?

What Are Exchange Tokens? – A recent trend in the crypto space has seen exchanges listing their own custom cryptocurrency tokens, generally offering a trade fee discount when the tokens are used. Binance is often credited with kickstarting the trend into mainstream use with the highly successful BNB token, and other exchanges have followed suit. So how do all these tokens measure up, and what do they do exactly?

New Github Repository Catalogs Physical Bitcoin Attacks – Cryptocurrency hacks have always been a thorn in the side of crypto enthusiasts. It seems like we can’t go a few months without a major theft taking place.  Jameson Lopp, created an open source repository to catalog and list all known physical bitcoin attacks/thefts. Check it out, it’s fascinating stuff. And a lesson. Because if anything we here at Crypto is Coming want to share teachable mome….lol I can’t finish that.

Vitalik Buterin Says Centralized Exchanges Can Burn In Hell – Sassy. We love it. Outspoken Ethereum co-founder, Vitalik Buterin, has hit out at centralized exchanges, saying that he hopes they “burn in hell as much as possible” while speaking to John Evans of TechCrunch. He has mirrored the opinions of divisive self-proclaimed voice of cryptocurrency, John McAfee.

Check our Crypto Swag store on Teespring – We’ve got new designs, Go, consume, support Crypto is Coming. Kisses

Visualizing the ICO Explosion – The ICO market exploded in 2017. We saw Billions of dollars pour into crypto through this new crowdsourcing vehicle. Take a look at the infographics below from the crew at howmuch.net.

Litecoin Foundation and TokenPay buy stake in WEG Bank AG – Litecoin founder, Charlie Lee, announced via twitter this morning that the Litecoin Foundation and Token Pay have entered into a partnership to buy a stake in German bank, WEG Bank AG. IN acquiring this stake, they hope to work on consumer driven cryptocurrency solutions for Litecoin and other cryptos.

Opera Launching A Browser With Built-In Crypto Wallet Functionality – Opera has announced that it is launching a new Android based browser that will incorporate a cryptocurrency wallet directly in the software. The browser will support the Ethereum Web3 API, and this function means that users will no longer have to open a separate browser to send and receive payments or check their crypto balance.

What Happens When The Bitcoin Reaches 21 Million And Mining Reward Runs Out? – Bitcoin transactions can only be verified by mining, a process in which powerful computers solve complex algorithms in order to add new blocks of verified transactions to the blockchain. What happens when there is no more reward? Check out our latest piece from Conor.

From Nick Szabo to Naval: The best crypto twitter threads of the week – We all know Cryptocurrencies are at the forefront of innovation in finance and tech. But the people involved in crypto are also leading the way, fighting in the intellectual battle ground that is crypto twitter to see which ideas gain strength and which die off.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Another hack rocks cryptocurrency trading: Bancor loses $13.5 million – The alleged hack has raised questions over the validity of the start-up’s “decentralized” system. This week, the start-up said that a wallet being used to “upgrade” smart contracts was compromised. This wallet was then used to withdraw $12.5 million in Ethereum (ETH), alongside $1 million in Pundi X (NPXS) and $10 million in Bancor Network Tokens (BNT).

Binance to Record $1 Billion Profit in 2018, Surpassing Major Banks – The cryptocurrency market has dropped by over 70% since the start of the year, but the world’s largest crypto exchange is still expected to rake in a hefty profit.

Ledger launches Ledger Live, the all-in-one companion app to your Ledger device – Ledger Live is a new all-in-one companion application for your Ledger device that runs on Windows, Mac and Linux. We’ve built Ledger Live from the ground-up to deliver a feature-packed, yet user-friendly experience for both power users and newbies.

Bank of Korea Says Cryptocurrency Poses Little Risk to Domestic Market – The Bank of Korea (BOK) recently announced that cryptocurrencies pose little risk to South Korea’s domestic market, Cointelegraph reported. The analysis comes in the wake of the institution’s publication of a report covering the influence of virtual currencies in the country’s financial industry.

Malta is Creating a Decentralized Bank with the Help of Binance – Binance is seeking to use Malta as the base for a new bank that will be owned entirely by cryptocurrency investors–the world’s “first decentralized, completely community-owned bank,” according to a Bloomberg report.

Robinhood Adds Bitcoin Cash & Litecoin Trading, Will Support Crypto Transfers – All aboard! Rapidly-expanding fintech unicorn Robinhood has added bitcoin cash and litecoin to the growing stable of cryptocurrencies that users can trade on the popular stock trading app.

100 Merchants Invited to Risk-Free Trial of Lightning Network – Did we ever mention we love of chain solutions? A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network.

Crypto is not a Bubble, Says Bernstein Analyst – Bitcoin is not a classic bubble, but still be ‘suspicious,’ says investing expert William Bernstein. Thanks the for advice, Will.

Thank you for joining us for this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

Follow us on twitter @cryptoiscomin

Like us on Facebook

Visit our crypto swag store on Teespring

Kermit