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.
- SEC Delays Decision on VanEck/SolidX ETF
- Bitfinex Enters IEOs With Tokinex
- Craig Wright Attempts to Copyright The Satoshi White Paper and Bitcoin Code
- Binance Confirms Margin Trading
- 51% Attack Bitcoin Cash
SEC Delays Decision on VanEck/SolidX ETF
The U.S. Securities and Exchange Commission (SEC) has delayed another decision on a bitcoin exchange-traded fund (ETF) proposal.
In a new document filed Monday, the SEC said it was instituting proceedings on whether to approve or disapprove a proposed rule change that would allow the VanEck SolidX Bitcoin Trust to issue and list its shares.
The new deadline for the SEC to make a decision is August 19, and it can delay one more time for a final deadline of October 18, attorney Jake Chervinsky tweeted.
You can read Coindesk’s full article here.
Bitfinex Enters IEOs With Tokinex
By now everyone has heard about Initial Exchange Offerings (IEOs) and Bitfinex is the next one that joins the IEO party through ‘Tokinex’.
Thus far there have been several advantages to fundraising with an IEO over an initial coin offering (ICO). Most notably, the arrangement usually comes with a commitment from the exchange to handle all Know Your Customer (KYC) and Anti-Money Laundering (AML) checks on a startup’s behalf. IEOs also usually come with a commitment by the exchange to promote the offering to its pool of customers.
These services usually are contingent on hefty fees, but startups approved to run on Tokinex will face no upfront costs and, after successfully completing fundraising, the token will become listed on both Bitfinex and Ethfinex, according to company officials.
You can read Coindesk’s full article here.
Craig Wright Attempts to Copyright The Satoshi White Paper and Bitcoin Code
Craig Wright, the self-proclaimed creator of bitcoin, has filed registrations with the U.S. Copyright Office supporting his claims of authorship over the original bitcoin code and the Satoshi white paper.
The registrations, which are visible here and here, pertain specifically to “Bitcoin: A Peer-to-Peer Electronic Cash System” and “Bitcoin,” meaning the original 2009 code.
To be clear, registration does not imply ownership nor is this an official patent. The copyright process allows anyone to register anything in an effort to prepare, say, for lawsuits associated to ownership.
You can read Coindesk’s full article here.
Binance Confirms Margin Trading
Last week Binance sent out the following tweet:
When you dig in a little deeper, you can see that there is an important reminder about margin trading. Meaning the rumors that have been circulating are true and margin trading is on its way to Binance.
51% Attack Bitcoin Cash
Two bitcoin cash (BCH) mining pools recently carried out what is known as a 51 percent attack on the blockchain in an apparent effort to reverse another miner’s transactions.
The move is tied to the bitcoin cash network hard fork that occurred on May 15. The two mining pools — BTC.com and BTC.top — carried out the move in order to stop the unknown miner from taking coins that they weren’t supposed to have access to in the wake of the code change. That day, an attacker took advantage of a bug unrelated to the upgrade (and subsequently patched) that caused the network to split and for miners to mine empty blocks for a brief time.
In the context of cryptocurrencies like bitcoin cash, a 51 percent attack involves an entity or group controlling a majority of the hash rate which thereby allows them to execute several things they aren’t normally allowed to do, such as attempting to rewrite the network’s transaction history.
You can read Coindesk’s 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.
