Few highlights about what happened this week in crypto

noozzle (53)in #crypto • 5 years ago (edited)

Hey Noozzlers, we hope everyone is having a great Sunday! We’re happy to share a few highlights about what happened this week in crypto.

- IBM’s blockchain chief Jesse Lund claimed his company to be the “leader” in blockchain technology. This claim comes in light of IBM’s recent partnership with Stellar technologies for cross- border payment solutions in an attempt to revolutionize the remittance market- a niche long sought after by one of Stellar’s well known rivals, XRP & Ripple Labs. There never seems to be a shortage of drama between XLM and XRP

- SBI holdings, one of the largest banking institutions in Japan formally announces the launch of SBI Mining Chip Co., officially entering the bitcoin mining industry. In doing so, SBI joins industry giants such as Bitmain, Cannan, and Japanese internet giant GMO who have all struggled during the last 15-month bear market.. Who do you think will be the long term winner between the two, and why?

- Bitmex CEO Arthur Hayes predicts bitcoin will reach $10,000 by the end of this year- his prediction comes as a result of an expected rise in inflation rates from the Federal Reserve

- MT Gox Legal, the group of around 1,000 creditors of the hacked cryptocurrency exchange MT Gox and its trustee Nobuaki Kobayashi has released new details about the amounts of holdings it has approved for payouts as part of the civil rehabilitation process totaling $629,594,540 in cash. Enthusiasts and skeptics alike didn’t take long to jump to conclusions about which direction this would drive the market. Personally, we can't believe it has taken them over 5 years to begin the repayments- that's an eternity on the crypto world!

- The Tor Project, a digital anonymity-focused nonprofit is now accepting cryptocurrency donations directly in 9 forms. Tor had previously accepted bitcoin for years but is now accepting other forms based on user requests. Which currency would you prefer to pay with? We know, and it starts with an N...

- Bitwise tells the Unites States SEC that 95% of volume on unregulated exchanges appears to be fake or of non-economic nature. This report comes as part of a proposed rule change for its application to launch a bitcoin ETF (Exchange Traded Fund). Do you believe these reports? Seems a bit high to us

- Twitter’s Jack Dorsey announced a special program to hire developers and a designer to work on open source cryptocurrency projects at his company Square. As Jack tweeted on March 20- “Work from anywhere, report directly to me, and we can even pay you in bitcoin!” We think it's great to hear this kind of interest an initiative from tech giants like Jack. He's a younger spirit taking great strides (and risks) to develop the future of the internet of money

As usual, it has been a turbulent week in the cryptoverse with tons of new partnerships being formed, internet based companies accepting new forms of crypto, a steady stream of price prediction from industry whales, and the HUGE news for MT Gox finally agreeing on amounts to repay creditors. Mt Gox is important as they were the largest exchange of their kind by far when they were hacked in 2014 and will be providing roughly 600 million USD worth of cryptocurrency back into the ecosystem. There are a few possibilities- people who have waited 5+ years for repayment might sell their crypto for dollars, bringing the price down with it. Otherwise these people could decide to buy alternate cryptos, or just hold the btc. Only time will tell, but it will be very interesting to keep an eye in the coming weeks as they plan to do so in "timely fashion" What would YOU do after being without your long lost btc for 5+ years??

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