“reHash” — Your Weekly Summary of Everything Important in the Crypto World — issue no. 9
reHash issued for November 13th to November 19th
Welcome to another reHash. I read the news all week, so you do not have to dig through hundreds of articles. You still can, if you wanted, since the sources are always listed. Here comes seven days in crypto shortened to seven minutes of pure reading excitement, hope you enjoy!
NOTE: reHash is not intended to be original journalism. It is intended to be a brief summary of significant articles and events from the past week with links to the original sources. Sources will always be linked and credited. If you know any good newsletters or Twitter accounts which provide news we have been missing, please mention them in the comments!
Galaxy Digital launches a Bitcoin Fund in Canada; the cryptocurrency merchant bank is owned by Michael Novogratz; Galaxy Digital has partnered with Canadian investment company CI Global Asset Management for the launch SOURCE: 1, 2, 3, 4
Jon Cunliffe, a Deputy Governor of the Bank of England, said that it is not the central’s bank responsibility to protect bank business models; some of the private banks and experts feel uneasy regarding the possible introduction of CBDC’s as it would likely change the way people operate with money and could negatively impact commercial banks; European Central Bank President Christine Lagarde said that it is possible there will be a digital Euro within next 2–4 years SOURCE:1, 2, 3, 4
Grayscale an institutional crypto fund manager holds $10.4 billion of Bitcoin and other cryptocurrencies; it has purchased another 15,114 BTC this week; Grayscale holds approximately 62% of Bitcoin currently held by publicly traded companies SOURCE:1, 2, 3
A Belarus state-owned bank has launched a cryptocurrency exchange; it lets people buy Bitcoin; Belarusian tech sector has seen a lot of backlash at the residing president and violent anti-government protest; while Belarus is one of the most authoritarian countries in Europe it is also one of the most lenient towards cryptocurrencies SOURCE:1, 2, 3, 4
A $9.2 billion investment fund “may seek exposure to digital assets.”; the fund led by Anthony Scaramucci — SkyBridge Capital might be looking at cryptocurrencies for investment; the investment could also be made into companies related to digital assets; SkyBridge Capital has filed an amendment with the SEC SOURCE:1, 2, 3, 4
More than 30 major Japanese companies will begin the CBDC/digital Yen trials in 2021; the group of participants include three biggest banks, brokerages, telecom companies and more; Japan currently has one of the lowest percentages of cashless payments — making up only 20%; SOURCE:1, 2, 3, 4
Brian Brooks could serve as the Comptroller of the Currency; Brooks is a former Chief Legal Officer of Coinbase; if his nomination by president Trump goes through he would serve for the next five years; SOURCE: 1, 2, 3
The Dutch Central Bank is forcing exchanges registered in the country to verify additional information regarding the users; following the Sanction Act imposed by the bank exchanges must monitor the withdrawals and verify ownership of the wallets SOURCE:1, 2, 3, 4, 5
Only 20.1% of required Ethereum has been staked in the ETH 2.0 contract; it is quite likely that ETH 2.0 Phase 0 will therefore be delayed again; for the beacon chain to launch on December 1 the minimum would have to be met by the 24th of November; SOURCE:1, 2, 3
A severe bug was found in both Ethereum and ETC; vulnerability was patched on both chains since; it caused some of the nodes not to be able to update data; as found by the investigation by 2Miners mining pool the cause was that some of the core libraries code was using 32 bits instead of 64 bits; it could have led to another accidental hard fork on Ethereum if it wasn’t patched by January 1st 2021 SOURCE:1, 2, 3
Bitcoin cash underwent another hard fork; overwhelming majority of miners chose BCHN over BCHA; the hard fork was cause by a controversial proposal of the ABC team to introduce a miner tax of approximately 8%; it seems to be a community decision will be the dominant one as over 80% of the hash power of BCH is currently dedicated to BCHN (and rising) SOURCE:1, 2, 3, 4
OKEX has announced that it will resume the withdrawals on or before November 27, 2020; the exchange founder Xu Mingxing has reportedly been released from the police custody; SOURCE:1, 2, 3
A mysterious advert has been posted in Warsaw, Poland; a website and a twitter account point to a smart contract containing 7 ETH; which a winner will get if he managed to solve a riddle; another puzzle comes from a crypto start-up Incognito that allows users to try to solve puzzles to get prizes SOURCE:1, 2, 3, 4
Huobi is reportedly looking to purchase Bithumb; Bithumb has seen a rather tumultuous year; Bithumb Holdings currently holds a 70% stake in Bithumb; Bithumb captures about 50% of the South Korean traffic for cryptocurrency trading; SOURCE: 1, 2, 3, 4
Top ten decentralized applications on Ethereum has jointly reached over one million daily users; DeFi dapps account for 94% of those users; Crypto.com has over half a million of users daily, with Uniswap (276,000) and Compound (141,000) still on podium SOURCE:1, 2
The trial between Craig Wright and the Kleiman family has been delayed until April 2021; the lawsuit itself was filed back in 2018; approximately 1,000,000 are at stake — granted that Wright does have them; Kleiman family is trying to have four experts that are speaking for Craight Wright excluded from the trial, while Wright is trying to get five of Kleiman family experts struck off SOURCE: 1, 2, 3
Twitter has hired Peiter “Mudge” Zatko as their new head of security; just in July Twitter has seen a massive hack in which hundreds of popular profiles of celebrities and politicians have tweeted scam Bitcoin messages; Zatko comments that he will deal with “platform integrity — which starts to touch on abuse and manipulation of the platform — and engineering.” SOURCE: 1, 2, 3, 4
While many of the public figures in cryptocurrency space are proponents of blockchain voting — it might not be a safe solution; a paper by an MIT professor Ron Rivest (co-inventor of RSA encryption) argues that the blockchain voting would “greatly increase the risk of undetectable, nation-scale election failures.” SOURCE:1, 2, 3, 4
Robby Gutmann, a co-founder of Stone ridge, has explained the rationale behind the 10,000 Bitcoin purchase for treasury reserve strategy; himself he bought first BTC on craiglist back in 2010; key principle for Stone Ridge is financial security for all; key trends of ‘aggressive expansion’ of the investor market to BTC SOURCE: 1, 2, 3, 4
Since August 2020 there’s approximately 500,000 new BTC addresses created each day; there is a tendency for new addresses to pop up more frequently when there is upward momentum in the markets, the Fear & Greed index has recently switched to “Extreme Greed” as more institutional investors and celebrities have recently embraced Bitcoin; according to data from Glassnode over 32.5 million BTC addresses have ‘non-zero balance’ SOURCE:1, 2, 3
Even though JPMorgan has changed its stance on Bitcoin and cryptocurrencies recently, its CEO still says it is not his cup of tea; SOURCE: 1, 2, 3
Value DeFi has been flash-loan-exploited for $6 million; in what is a newest entry to series of DeFi exploits Value DeFi gets hit for $6 million; the MultiStables Vault boasted the “1) Flash-loan attack prevention 2) Fake-token attack prevention 3) Re-entrance attack prevention.”; the exploiter has returned a total of $95,000 to two victims of the hack reacting to the messages on chain SOURCE:1, 2, 3, 4
Origin Dollar stablecoin also has been flash-loan-expoilted for $7 million; exploiter has stolen 11,800 Ethereum and $2.2 million in DAI; as of the writing time Origin Dollar is trading at $0.1583 as opposed to a $1 peg it should hold SOURCE: 1, 2, 3, 4
Liquid exchange (16th largest by volume)has been hacked and some user information was stolen; the data could include emails, names, addresses and encrypted passwords; no funds were stolen in the incident per Liquid SOURCE: 1, 2, 3
Thank you, as always, for reading and hope to see you next week!
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