Crypto Daily News | Coinbase Adds British Pound and BitFi Wallet Hacked

In today’s edition of Crypto Daily News, we’ll cover Coinbase adding the British Pound to its trading pairs and John McAfee’s “unhackable” Bitcoin wallet that gets, well, hacked. Crypto Daily News: August 2nd, 2018 Coinbase Supports the Pound Starting today, Coinbase customers in the UK will be able to seamlessly move GBP in and out of their accounts using the Faster Payments service. In most cases, this will mean almost instant access to funds. 🇬🇧https://t.co/67DMjc6y89 — Coinbase (@coinbase) August 1, 2018 Coinbase, the most popular cryptocurrency exchange in the US…

Walmart Files Blockchain Patent for Smart Appliance Management

Walmart has filed another patent application in the blockchain sector entitled “Managing Smart Applications Using Blockchain Technology.” The filing follows a number of previous applications for blockchain patents including blockchain package delivery systems, medical record storage systems, and a blockchain-based digital marketplace. The most recent patent application, published on Aug. 2, details systems and methods that can be used to manage smart appliances, including a kiosk for the receipt of drone-delivered packages and potentially a smart home system, among other use cases. IoT Ecosystem The patent discusses the use of a…

Galaxy Digital Holdings | Shares Dropping on the TSXV

Yesterday, cryptocurrency-focused merchant bank Galaxy Digital Holdings Ltd. (GLXY) started trading on the Toronto Stock Exchange. The stock lost a lot of momentum but closed the day in the green. Galaxy Digital TSX Stock Movement According to TMXMoney, Galaxy Digital Holdings started trading at $2.09 a share and ended the day at $2.30. The stock gained $0.21 (+10.04%) yesterday. Yesterday, GLXY reached a peak of $2.49 a share and a low of $1.92, losing over -22.89%. Days after billionaire Mike Novogratz revealed Galaxy Digital, the crypto market bank lost $134 million during Q1. Complications…

Factom Files Patent for Validating Documents on the Blockchain

Factom (FCT) has filed a new patent today with the U.S. Patent & Trademark Office that allows verification of documents on a blockchain with multiple digital signatures The patent comes during a frenzy of blockchain patent applications from other incumbents, including IBM, Mastercard, and Walmart. Auditing Digital Documents with Multi-Signatures The patent claims the concept: “Authentication of electronic document is based on multiple digital signatures incorporated into a blockchain. Structured data, metadata, and instructions may be hashed to generate the multiple digital signatures for distribution via the blockchain. Any peer…

Financial Services Firm Opens Doors to Crypto Hedge Funds

The crypto industry has received another boost with the entry of financial services giant Northern Trust in a quiet but significant move. The firm, which manages over $10.7 trillion in assets, has added blockchain features into its private equity workflow, while extending its administration services to a select group of hedge funds betting on digital assets. Institutional Entry at Long Last? For months, the cryptocurrency market has waited for the expected entry of institutional finance, an event which is expected to herald its coming-of-age as a bona fide investment asset…

Bitcoin Staves Off Drop Under $7,500, Investors Remain Bullish

Bitcoin saw a breathtaking run-up over the past few weeks, with the price of the asset rebounding off lows at $5,800 to a yearly high of $8,500 last week. Many attributed this most recent recovery to a series of positive technicals and fundamental indicators, such as the influx of institutional money, along with a resurgence in retail volume and adoption. This quick reversal resulted in a sentiment shift within the industry, with many crypto experts and analysts beginning to believe that the Bitcoin bottom is in, and the bull run…

Here Is How Market Liquidity Is A Better Way Of Ranking Cryptocurrencies Than Market Capitalization

Ranking cryptocurrencies based on their market capitalization does not do justice to the popular coins that are moving huge volumes per day through trading. Market cap is simply a product of the circulating supply of a coin and its current value. This means that a lot of other statistical data is left out including a coin’s market liquidity. The latter is defined as the extent to which the crypto market, allows assets to be bought and sold at stable prices. This then brings us to the concept of trade volume.…

SEC Comm. Hester Pierce Hopes Her Dissent Will Shed Some Lights on The Next Crypto ETF Application

After publishing a letter in which she publicly expressed her disagreement with the SEC’s decision to deny the Winklevoss brothers’ request for a bitcoin ETF, Hester Peirce became famous in the crypto -verse as the only SEC Commissioner to have the courage to reflect the hodlers’ feelings about the legitimacy of cryptocurrency and its viability as a financial instrument. In a public statement uploaded to the SEC’s website, she mentioned her concern about the SEC’s decision, pointing out that it could hinder market development. “I am concerned that the Commission’s…

Bitcoin Price Won’t Hit a New High [This Year]: Trader

It’s possible that the bitcoin price has found a bottom, but that doesn’t necessarily mean that it’s headed for a new all-time high before the end of the year. That’s according to Tuur Demeester, an economist and bitcoin trader, who argues in a new report that the market needs more time to absorb the historic 36-month rally that carried the bitcoin price from sub-$250 to a peak just below $20,000 in Dec. 2017. Writing on Medium, Demeester lays out the case that 2018 will likely be remembered as an era…

Tickets Now On Sale for San Francisco’s First ‘Blockchain Music Festival’

Tickets for the first music festival set to be powered by blockchain technology are now on sale. Scheduled for this fall, the Our Music Festival is launching its own virtual currency — the OMF token — at its inaugural event in San Francisco’s Civic Center Plaza. It will be the first musical entertainment experience to process booking fees on a live blockchain application. The festival plans to develop on the ethereum network and hopes the event will appeal to the city’s tech crowd. Pre-sale tickets start at $25 and can…