Hey everyone,
In my Weekly Crypto Overview, I will assemble the important news of the last week and make a summary of it. This way you will have one place to go for all the significant events that happened the week before in crypto. I hope you enjoy it and that it saves you a lot of time searching for all the news. I know not everyone has the privilege to be full-time in crypto, so I hope this is a solution for many of you.
- Microsoft Launches Decentralized Identity Tool On Bitcoin Blockchain
- Bakkt Sets July Test Date for Bitcoin Futures
- SEC Delays Decision on ETF Approval
- Hacked Exchange Cryptopia Goes Into Liquidation
- Poloniex Prevents US Buyers From Purchasing Nine Crypto Assets
- Bitfinex Will List Its New Exchange Token Starting Monday
Microsoft Launches Decentralized Identity Tool On Bitcoin Blockchain
Microsoft is launching the first decentralized infrastructure implementation by a major tech company that is built directly on the bitcoin blockchain.
The open source project, called Ion, deals with the underlying mechanics of how networks talk to each other. For example, if you log onto Airbnb using Facebook, a protocol deals with the software that sends the personal information from your social profile to that external service provider. In this case, Ion handles the decentralized identifiers, which control the ability to prove you own the keys to this data.
You can read Coindesk’s full article here.
Bakkt Sets July Test Date for Bitcoin Futures
Bitcoin futures exchange Bakkt announced that it is moving forward with plans to launch physically-settled bitcoin futures products.
In a blog post Kelly Loeffler, CEO of Bakkt, stated:
User acceptance testing for bitcoin futures custody and trading planned for July
You can read the full article here.
SEC Delays Decision on ETF Approval
The U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve or reject a bitcoin exchange-traded fund (ETF) on Tuesday last week.
In a new document published by the SEC, the regulator said it would hold off on making a decision on the Bitwise ETF proposal filed with NYSE Arca.
There will be a public comment period for three weeks after the latest document regarding the Bitwise ETF is published in the Federal Register, plus an additional two weeks for responses.
You can read Coindesk’s full article here.
Hacked Exchange Cryptopia Goes Into Liquidation
Last week Grant Thornton announced that Cryptopia appointed them as their liquidators. Cryptopia confirmed this on Twitter.
Back in January, Cryptopia went offline for a couple of days before stating mid-month that it had “suffered a security breach which resulted in significant losses.” A blockchain data analytics firm estimated after the attack that as much as $16 million in ether and ERC-20 tokens could have lost. Later, in March, the exchange restarted trading services, but still had banking issues.
Grant Thornton said the hack had a “severe” impact on the company’s trade, and despite the management’s efforts to reduce cost and return the business to profitability, it was decided that liquidation was the best path forward for all stakeholders.
You can read Coindesk’s full article here.
Poloniex Prevents US Buyers From Purchasing Nine Crypto Assets
In a blog post Poloniex announced that they will disable certain trading pairs for their US customers.
On Wednesday, May 29th, at 16:00 UTC, the markets for ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI, and REP will be disabled for Poloniex customers in the US. All assets remain available for trading to customers outside the US.
We are committed to complying with regulatory requirements in every jurisdiction. Today’s action is a result of regulatory uncertainty in the US market.
You can read the full article here.
Bitfinex Will List Its New Exchange Token Starting Monday
Last week Bitfinex announced that ‘UNUS SED LEO’, a utility token designed to empower the Bitfinex community and provide utility for those seeking to maximize the output and capabilities of the Bitfinex trading platform, will commence trading on Monday May 20th, at 08:00 UTC on Bitfinex. The token will be tradable against BTC, USD, USDt, EOS, and ETH.
You can read the full article here.
That’s it for now. All the best to everyone!
Khilone
The material contained in this article is not to be regarded as an recommendation to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information on this document does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this document when making any investment decisions.
