Crypto Newsletter

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Mike Sullivan
Crypto Newsletter

The Race to Become Crypto’s ‘Red Hat’

By Jon Victor · Apr 3, 2019 1:00pm PDT · 1 comment
If you’re reading this, you probably already know that bitcoin is on a roll this week, jumping about 25% since Monday. But since the price could go back down in a few hours, let’s focus on two important trends that appear here to stay: the competition to become the “Red Hat” of crypto, and how staking is changing the... If you’re reading this, you probably already know that bitcoin is on a roll this week,...
Mike Sullivan
Crypto Newsletter

Puzzling Exchanges

By Jon Victor · Mar 27, 2019 12:31pm PDT
A report last week suggesting that dozens of cryptocurrency exchanges exaggerate their trading volume was met with a mix of gasps and yawns from people working in the industry. On the one hand, the report, compiled by the crypto startup Bitwise, says that 95% of bitcoin trading volume reported by the exchanges isn’t real—a pretty... A report last week suggesting that dozens of cryptocurrency exchanges exaggerate their trading...
Mike Sullivan
Crypto Newsletter

Surging, or Stalling?

By Jon Victor · Mar 20, 2019 1:02pm PDT · 1 comment
You could be forgiven if, after this week, you are confused about where interest in crypto stands among the large institutions that many hoped would embrace it. This week alone, Citibank said it had scrapped plans for developing its own cryptocurrency, CBOE stopped issuing new bitcoin futures, and Bakkt, the NYSE’s crypto venture, drew... You could be forgiven if, after this week, you are confused about where interest in crypto stands...
Mike Sullivan
Binance Coin Bucks the Trend
By Jon Victor · Mar 13, 2019 12:36pm PDT · 3 comments
Mike Sullivan
Crypto Newsletter

Binance Coin Bucks the Trend

By Jon Victor · Mar 13, 2019 12:36pm PDT · 3 comments
Cryptocurrency prices haven’t gained much ground in recent months, but sentiment seems to be improving as people forget the crazy highs. Industry insiders say the focus now is on developing products—from games to digital collectibles to advanced blockchains—that they feel have long-term legs.Still, one cryptocurrency has bucked... Cryptocurrency prices haven’t gained much ground in recent months, but sentiment seems to...
Mike Sullivan
Crypto Newsletter

Facebook’s Decentralization Dilemma

By Jon Victor · Mar 6, 2019 12:01pm PST · 1 comment
A great irony is emerging in crypto. Two of the world’s largest corporations, Facebook and JPMorgan, are now in the vanguard of adopting a technology that was designed partially to subvert the power of institutions. Just weeks after JPMorgan announced it was launching its own cryptocurrency, the New York Times reported new details about... A great irony is emerging in crypto. Two of the world’s largest corporations, Facebook and...
Mike Sullivan
Crypto Newsletter

Coinbase Branches Out

By Jon Victor · Feb 27, 2019 12:03pm PST
JPM Coin has dominated discussions about business applications of blockchain over the last two weeks, but my prediction is that we will be hearing more about crypto activity at other, smaller banks around the world this year. I’m told that a handful of banks in developing countries are working on their own versions of a stablecoin backed... JPM Coin has dominated discussions about business applications of blockchain over the last two...
Mike Sullivan
Crypto Newsletter

Open vs. Closed Networks

By Jon Victor · Feb 20, 2019 12:33pm PST · 1 comment
Bitcoin’s price nearly broke $4,000 yesterday, a level it hasn’t seen in six weeks. Some said it was a delayed reaction to news that JPMorgan was rolling out a cryptocurrency, but a late response would be unusual. Still, as we all know, there has never been anything typical about bitcoin markets.Below, we take a closer look at... Bitcoin’s price nearly broke $4,000 yesterday, a level it hasn’t seen in six weeks....
Mike Sullivan
Risky Business
By Jon Victor · Feb 13, 2019 12:47pm PST
Mike Sullivan
Crypto Newsletter

Risky Business

By Jon Victor · Feb 13, 2019 12:47pm PST
Everybody paid attention in October when the SEC settled cases with two crypto companies found to have violated securities laws, putting the industry on notice that most tokens were going to be treated as securities. But months later, those companies have yet to register their tokens with the SEC, raising the question of when (or if) their... Everybody paid attention in October when the SEC settled cases with two crypto companies found to...
Crypto Newsletter

Facebook’s Crypto Shopping List

By Jon Victor · Feb 6, 2019 12:01pm PST
Happy Wednesday. Last week’s piece on legislation that Rep. Darren Soto’s office is developing, which would exempt two classes of crypto assets from being securities, drew a lot of feedback. Some applauded the effort, but others reserved judgment for later. Joe Grundfest, a former SEC director who now teaches at Stanford, wrote in:... Happy Wednesday. Last week’s piece on legislation that Rep. Darren Soto’s office is...
Mike Sullivan
Crypto Newsletter

Crypto-Friendly Congress?

By Jon Victor · Jan 30, 2019 12:01pm PST
Here is a question on my mind this week: Where is all the institutional interest in crypto that we heard so much about in 2018? On Monday, news emerged that Jamie Selway, who was leading Blockchain’s Wall Street push, left the company after seeing low demand. And at Coinbase, the person hired to oversee the company’s institutional... Here is a question on my mind this week: Where is all the institutional interest in crypto that...
Mike Sullivan
Crypto Newsletter

TZero Hopes for Liftoff

By Jon Victor · Jan 23, 2019 1:05pm PST
Ethereum developers are regrouping this week after researchers discovered a security flaw in the code of a planned upgrade. The long-awaited fork, known as “Constantinople,” will now take place in late February. While the discovery of the vulnerability raised alarms, it highlights the role of a new type of business that cropped up... Ethereum developers are regrouping this week after researchers discovered a security flaw in the...
Mike Sullivan
Trump Administration Gets Involved on Crypto
By Jon Victor · Jan 16, 2019 12:31pm PST
Mike Sullivan
Crypto Newsletter

Trump Administration Gets Involved on Crypto

By Jon Victor · Jan 16, 2019 12:31pm PST
The government shutdown continues, stymieing developments in crypto that require regulators’ approval. Bakkt’s platform for bitcoin futures trading, which was set to launch next week, is being held back by the furlough at the CFTC. There is a silver lining for some crypto market participants, however: A lawyer tells me the shutdown... The government shutdown continues, stymieing developments in crypto that require...
Crypto Newsletter

Equity Closes In on Tokens

By Jon Victor · Jan 9, 2019 12:40pm PST
New Year's greetings to everyone. I got back from a trip to Japan last week to find slogans like “Crypto Without Chaos” and “Revolutions Need Rules” plastered across New York City subway cars and on yellow cabs—part of an extensive new marketing campaign by the exchange Gemini to portray itself as the adult in... New Year's greetings to everyone. I got back from a trip to Japan last week to find slogans...
Crypto Newsletter

Bitcoin Philanthropists

By Shai Oster · Jan 2, 2019 12:16pm PST
Greetings from Hong Kong. I’m guest-writing this week’s Crypto Newsletter while Jon takes a well-deserved break.Bitcoin’s meager end-of-year rally still left the premier cryptocurrency down 80% from its all-time high. Will the wild volatility in the U.S. stock market start to drive the prices of alternative assets such as... Greetings from Hong Kong. I’m guest-writing this week’s Crypto Newsletter while Jon...
Mike Sullivan
Crypto Newsletter

EOS Block Producers Under Pressure

By Jon Victor · Dec 19, 2018 1:28pm PST
Is the bottom in? Crypto prices are up this week, even as U.S. stocks sank deeper into correction territory. Some prominent crypto backers, like Brian Kelly, have said they are now short bitcoin. Another big crypto investor, Galaxy Digital’s Mike Novogratz, remains bullish on the market. But many investors admit they have no idea which way... Is the bottom in? Crypto prices are up this week, even as U.S. stocks sank deeper into correction...
Mike Sullivan
Investors Regroup; ConsenSys’ Consulting Stumble
By Jon Victor · Dec 12, 2018 12:01pm PST · 1 comment
Mike Sullivan
Crypto Newsletter

Investors Regroup; ConsenSys’ Consulting Stumble

By Jon Victor · Dec 12, 2018 12:01pm PST · 1 comment
Crypto winter is here, but who can say when it actually began? It has now been about a month since the price of bitcoin started to drop off its $6,400 level, falling by almost half in that time. But many assets were already down more than 80% from their 2018 highs before the latest plunge. Even as prices remain low, however, market... Crypto winter is here, but who can say when it actually began? It has now been about a month...
Mike Sullivan
Crypto Newsletter

ConsenSys Recalibrates

By Jon Victor · Dec 5, 2018 12:34pm PST
On Monday, we published our list of the five biggest tech stories of the last five years, in honor of The Information’s fifth anniversary. Here on the crypto desk, I am planning a similar roundup for the industry—but I’d appreciate input from readers as well. What do you think were the most important stories in crypto and... On Monday, we published our list of the five biggest tech stories of the last five years, in...
Crypto Newsletter

Bear Market Fallout; Civil Pivots

By Jon Victor · Nov 28, 2018 1:03pm PST
I hope you had a restorative Thanksgiving holiday, and that you were able to concentrate more on food and family rather than on the value of your crypto holdings. Bitcoin remains in a slump, hovering around $4,300 as of this afternoon, though it has recovered from its lows of a few days ago, when it traded at $3,600.Still, there are signs that... I hope you had a restorative Thanksgiving holiday, and that you were able to concentrate more on...
Mike Sullivan
Crypto Newsletter

Crypto Exchanges Face Disclosure Conundrum

By Jon Victor · Nov 21, 2018 1:14pm PST
As tech stocks slide, crypto prices continue their downward march: The price of bitcoin briefly fell as low as $4,100 on Tuesday, a far cry from the $6,500 level it had been trading at just a few weeks ago. Meanwhile, the Justice Department is investigating whether bitcoin’s rise last year was fueled partly by market manipulation, and the... As tech stocks slide, crypto prices continue their downward march: The price of bitcoin briefly...
Mike Sullivan
Bitcoin Cash Drama; App Store Dust-Up
By Jon Victor · Nov 14, 2018 12:05pm PST
Mike Sullivan
Crypto Newsletter

Bitcoin Cash Drama; App Store Dust-Up

By Jon Victor · Nov 14, 2018 12:05pm PST
Happy Wednesday. Bitcoin Cash, the cryptocurrency network that spun off from Bitcoin last year, plans to upgrade its software this week, but as is the norm in crypto, the proposal to improve Bitcoin Cash has been met with an equal and opposite reaction. Disagreements within the technical community about how many transactions miners should... Happy Wednesday. Bitcoin Cash, the cryptocurrency network that spun off from Bitcoin last year,...