Bitcoin surges past $8000, $75 million awarded in sim swapping case, and regulatory gears starting to turn faster: This week in crypto. Keep Ngaged #15
It’s been a wild few weeks in crypto. From insane rallies to incredible technological advances, crypto has been ramping up for an interesting second quarter. Let’s take a look at some of the hottest news in the sphere, as well as talk about the current air in the regulatory atmosphere.
NEW YORK (Reuters) - U.S. entrepreneur and cryptocurrency investor Michael Terpin won $75.8 million in a civil judgment…uk.reuters.com
One of the more insidious styles of ‘hacking’ is the ability of social engineering. A case of such social engineering reared its head as Nicholas Truglia was able to convince AT&T employees to give him access to Michael Terpin’s number and subsequently stole nearly $25 million in tokens. The court has laid a $75 million judgement against Truglia.
A new report from Big Four audit firm EY outlines assets and debts of Canadian crypto exchange QuadrigaCX and its…cointelegraph.com
A report has been published on all debts and assets of QuadrigaCX as of May 9th. They are currently spread across 3 subsidiary companies and will be under the potential for sale due to the declaration of bankruptcy in April by QuadrigaCX.
Galaxy Digital CEO Mike Novogratz argued that not bitcoin, but web 3.0 will change the world, since BTC is just a store…cointelegraph.com
Mike Novogratz’s comments at Consensys helped to stir quite an interesting discussion. He explained his views that bitcoin, in terms of technology, has reached its limits and now acts as an exchange of value, while other projects now must “prove themselves” in the growing Web 3.0.
Seems Mark is under greater scrutiny as the government has gotten wind of Zuckerberg’s interest in a cryptocurrency product for the popular Facebook platform. Not only does it address financial data privacy, but the letter requests clarification if Facebook is using the information in addition to credit scoring. It remains to be seen if these answers will be made public in a timely manner, but one should always use caution on social sites to ensure their data is safe and protected.
Analysis from around the web:
Let’s take a look at what a few experts have to say around the current price action of Bitcoin and Crypto. Please remember that these are strictly the opinions of third parties and these authors are not affiliated with Ngaged.
Cryptocurrencies have entered the green zone after seeing some losses over the past day, with bitcoin briefly hitting…cointelegraph.com
Sentiment and politics:
I think I speak plainly when I say that sentiment in crypto seems to be increasing at an incredible rate. As of writing this, bitcoin is sitting at $8,137, a long awaited high since this year began. Indexica and Bloomberg reported recently that it may be due to the asset finally reaching its maturation. With the beating we received in 2018, 2019 might be the year of a positive market cycle. As always, don’t just take words for predictions and practice safe trading practices.
More regulatory bodies are starting to churn as both Germany and Britain have begun direct efforts to institute legislation regarding the advancing blockchain evolution. We’ll be seeing the fruits of these jurisdiction’s preparations in the future as trends are established, but for now there is still a large amount of information being gathered and put into context in order to ensure the laws regulating the technology are in place.
As always, this is Derek Clauson, signing off. I’ll see everyone next week!
What are your thoughts on the future of the crypto markets? Have you seen an article you would like featured? Leave a comment below and let us know what you’d like to see in upcoming issues. We’ll see you next week and remember to Keep Ngaged!
This issue of Keep Ngaged was brought to you by the community experts at Ngaged. If you’re looking to nurture a great community of your own for your crypto or blockchain company, be sure to check out Ngaged.io and get in touch. To learn more, take a look at one of our recent articles on why community management matters.
About the author: When not chasing down the latest news and strategies in crypto marketing, Derek spends his time helping build up successful blockchain companies through Ngaged.io and reading on the couch with his dogs.