Total Market Cap, as of 03.22.19 at 3:00pm (PST): $140,255,684,074 (+1.95%)Missed last week’s update? Click hereSTORY OF THE WEEK•CEO of Square Jack Dorsey announces its intention to hire 3-4 engineers and 1 designer to work on open source contributions to the Bitcoin/cryptocurrency ecosystem. New hires will not be focused on Square’s commercial interests, but rather what’s best for the crypto community.ADOPTION•Western Union partners with Stellar based start-up Thunes to enable clients to transfer funds directly to any mobile wallet globally.CRYPTOCURRENCY TRADING SERVICES•Coinbase Pro removes support for stop orders and adjusts its trading fees schedule. Those who trade under $100,000 will see a fee increase of 33%. Other transactional thresholds will see no changes or otherwise a reduction of 13-50%.•Coinbase lists Stellar Lumens (XLM) on its web and native mobile applications (iOS, Android) on March 18th, 2019.•Binance launches a new fiat-to-crypto gateway in Australia, dubbed “Binance Lite”. The new platform allows for Bitcoin purchase in any of the 1300 newsagent stores for a 5% fee.•Huobi announces Huobi Prime, a platform allowing traders to speculate on tokens before they list on exchanges in what’s called an IEO (Initial Exchange Offering).•Cryptopia resumes trading with 40 pairs as of March 18th, 2019. Those who have lost funds as a result of the hack in January will be deposited a Cryptopia Loss Marker (CLM) to keep track of lost coins in New Zealand Dollars.•Huobi Global and OkEx announce support for upcoming Tron-based Tether (USDT).• A report from trading analytics firm The Tie suggests an estimated 87% of cryptocurrency trading volume may be artificially manufactured. This was determined by cross-referencing platform visitor analytics and reported volume by the exchanges.REGULATION•Senior advisor at the U.S Securities and Exchange Commission (SEC) Valerie Szczepanik stated that algorithmic stablecoins – tokens that maintain its stability through financial mechanisms may be “getting into the land of securities”.•The Japanese Cabinet, an executive agency of the Japanese government approves a law that bans margin trading that exceeds 4x from the initial position. Margin-enabled exchanges must now also register no later then 18 months from the effective date the law goes into effect.TECHNOLOGY•Major mining hardware manufacture Bitmain releases Antminer Z11 on March 19th, 2019. The new miner will be 60% more efficient on electricity and tout a 3x increase in hashing power to mine cryptocurrencies that is based on the Equihash algorithm (ZCash).INSTITUTIONALIZATION•Kakao, an internet conglomerate in South Korea with an estimated 44M users is looking to integrate a cryptocurrency wallet into its flagship messaging app – KakaoTalk.•Worlds largest manufacture of cryptocurrency mining equipment Bitmain, looks to deploy 200,000 miners in China’s southwestern provinces to take advantage of cheap hydroelectric power.PEOPLE•Major South Korean cryptocurrency exchange Bithumb to reduce staffing by 50%. This will effectively reduce the head count of the team from 310 to 150.•Jared Rice Sr, founder of $4.2 million USD crypto bank scam AriseBank pleads guilty to 1 of 3 outstanding charges. Plea will sentence Jared to 60 months in prison with a maximum sentence of 20 years and $5 million USD fine.•Former BTC-e operator Alexander Vinnik currently accused for money laundering to the tune of $4 billion USD appeals for extradition to Russia for humanitarian reasons.TWITTER•@jack – #BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @sqcrypto.•@iamdevloper – If anyone wants a better understanding of Blockchain, I can thoroughly recommend the Fyre Festival documentary on Netflix.•@danheld – Dollar: In God we trust. Bitcoin: In math we trust.
Submitted March 23, 2019 at 08:06PM
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