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Top stories of the week
Facebook is reported to have acquired the Blockchain Startup on the first acquisition related to the Blockchain
The social media network Facebook would have acquired the start of Chainspace, the first chain of channels, during its first apparent acquisition related to the channel. According to the Cheddar Press Release, the acquisition is considered a "purchase" or acquisition of a business conducted for the purpose of acquiring the skills or expertise of its employees, as opposed to its products or services. According to Cheddar, four of the five researchers who worked on Chainspace's academic white paper will join Facebook. Facebook had told Cheddar that he had did not acquire any technology from Chainspace.
Escape to Mt. Gox Info should display $ 318 million in Bitcoins and Bitcoin Cash on BitPoint
According to disclosed documents showing the procedure of rehabilitation of an old cryptocurrency terminal, the Mt. Gox, the repository of the process, has sold about $ 318 million worth of Bitcoin (BTC) and Bitcoin Cash (BCH) on the BitPoint trading platform. The information, allegedly coming from the Tokyo District Court, shows incomplete badysis of the transaction at BitPoint, apparently confirming that Mt. Nobuaki Kobayashi, director of Gox sold coins on a major exchange to repay creditors. Kraken, chairman and chief executive of the US stock market, Jesse Powell, has already noted that Kraken's proposals to sell coins at an auction or with an over-the-counter broker were not followed.
The new legal framework for crypto in Venezuela comes into force, does not mention Petro
The new Venezuelan law on cryptography, which establishes a legal framework for the sector, officially entered into force at the end of January. The official set of rules, which makes no mention of the national Petro cryptocurrency, was initially approved by the National Constituent Assembly – an alternative to the country's parliament, created in 2017 – in November 2018. The bill lets the national crypto inspector inspect related business activities in the country. Also this week, Bitcoin trade reaches an all-time high in the country in hyperinflation and the current presidential crisis, more than 2,000 BTC per week.
QuadrigaCX controversy continues as securities regulator begins investigation
As this week's research has claimed, QuadrigaCX, Canada's important digital encryption system, may not have the cold wallet reserves it has flagged, The Ontario Securities Commission (OSC) has launched an investigation in the situation. The exchange had sought creditor protection after the death of its founder, Gerald Cotten, who would have controlled all the funds in the exchange. About 115,000 clients do not have access to their funds and a court-ordered lawyer will receive the encrypted laptop (which allegedly contains cryptographic reserves) from QuadrigaCX representatives, according to a court order. In addition, Crypto Exchange's lawyers are considering selling the company to cover its debts.
BitTorrent token sales sell in less than 15 minutes and earn more than $ 7 million
The sale of BitTorrent chips (BTT) on the Binance Launchpad platform, concluded earlier this week, generated a net profit of $ 7.1 million. sale of 50 billion chips in less than 15 minutes. The BTT is based on a Tron TRC-10 token and will be used to process computing resources between BitTorrent clients and other service users. Each chip was priced at $ 0,00012 and was sold on the Binance Dashboard in two concurrent sessions, one for those using Binance's native token and the other for those using Tron (TRX).
Winners and losers
The crypto market rose slightly at the end of the week: Bitcoin trading at around $ 3,654, Ripple at about $ 0.30 and Ethereum at about $ 117. The total market capitalization is about 120 billion dollars.
The first three winners of the week in altcoin are Guaranteed Token Extra, Nullex and MMOCoin. The three biggest losers of the week are Ultra Coin, Bitqy and DOWCOIN.
For more information on the prices of cryptography, be sure to read Cointelegraph's market badysis.
Most memorable quotes
"I only have bitcoins"
Jack Dorsey, CEO of Twitter and Square
"Amazon will have to issue a currency sooner or later."
Changpeng Zhao, CEO of Binance
"There are 2,000 crypto-currencies, 95% of which are useless and will die a painful death. The faster it happens, the better.
Matt Hougan, Global Head of Research at Bitwise Asset Management and President at ETF.com
"Finally, do I think that someone will meet the standards we have established there? I hope so, yes, and I think so.
Robert J. Jackson Jr., the SEC's only Democratic Commissioner, speaking on Bitcoin Exchange Traded Funds
"Thus, transparency and instantaneity are the real strengths of the blockchain and should generate not only significant time savings and increased security, but also considerable performance. [financial] savings."
Béatrice Collot, Head of Global Trade and Accounts Receivable Financing for HSBC Multinational Banking Giant
"We need to change our laws, which requires more interaction with legislators and regulators. We must make Switzerland open and allow companies to invest in blockchain projects. "
Daniel Haudenschild, recently elected President of the Swiss Crypto Valley Association
FUD of the week
The US lawsuit alleged by a group of investors doubled in a purchase of $ 2 million chips
A lawsuit filed this week in the United States claimed that the New York-based investment group, Blue Ocean Capital Group Inc., had misled claimant Lijun Sun into asking him to buy $ 2 million. dollars from the MCash cryptocurrency. The trial notes that the MCash token was not properly registered with US securities regulatorsand that the investment material provided to Sun does not represent the token or its terms of purchase. Sun has asked for a return on its investment as well as damages worth $ 6 million.
Zcash reveals previously fixed vulnerability allowing unlimited ZEC infringement
An official Zcash blog post reported this week the fix for a vulnerability that could have allowed an attacker to create an infinite Zcash (ZEC). According to the post, the vulnerability was discovered in March 2018 by one of Zcash's developers. A solution to the problem was secretly included (in order to prevent exploitation by bad actors) in the Sapling network upgrade that was adopted last October. Since the variant of zk-SNARK containing the bug was implemented by other projects, Zcash noted that these projects had also taken appropriate action.
Winklevii vs Shrem: Judge decides that twins must pay $ 45,000 in legal fees to Shrem
A judge ruled that Tyler and Cameron Winklevoss must pay $ 45,000 in legal costs for computer cryptologist Charlie Shrem as part of an ongoing lawsuit. During the proceedings, the Winklevoss twins have already opened an investigation and freeze their badets after accusing the entrepreneur of Failure to repay 5,000 BTCs from a 2013 trade agreement. Shrem's lawyer denied the charges and a judge lifted the badets freeze. According to media reports, the trial will cover new ground in June.
Best features Cointelegraph
"The NEM foundation you knew before disappearing", what's next?
After the NEM Foundation released this week an announcement on the status of their funds, revealing that they had only one month left in their operations, the crypto community was "deadly". is asked how things had succeeded. Cointelegraph examines the history of the Foundation and the causes of this financial disaster.
Forbes' "Fintech 50" list: New players, veterans and start-ups who have failed to stand out
The latest edition of Forbes' "Fintech 50" has just been released, this time with only six crypto and blockchain companies, unlike the 11th edition last year.
QuadrigaCX files creditor protection claim against liquidity crisis, community remains largely skeptical
As the controversy around QuadrigaCX, Canada's Cryptographic Exchange in Crisis, intensifies, Cointelegraph presents insights into its legal history, current legal issues, and some of the questions raised about the founder's death and whereabouts of its reserves.
How will we remember the year of the dog? ICO market decline, compliance trend and other takeaways
And Happy Chinese New Year to all our Hodlers who celebrated this week! At Cointelegraph, we examined all the major events that took place during the Year of the Yellow Mountain Dog.
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