June 14, 2019

1. Bitcoin bulls in a China shop

Chinese bulls are betting big on a price surge 

What you need to know
Crypto lender BabelFinance says a recent surge among Chinese investors for bitcoin-collateralized loans is a bullish signal. Market analysts aren’t so sure.

Why it's important
The recent increase in speculative borrowing appears to coincide with a spike in the price of Bitcoin beginning in early April, so the idea that it’s being driven by crypto investors looking to get in while the gettin’s good appears to jibe.
Read the story in full

2. The inflation tax cometh

Block.one to use “inflation tax” on Voice tokens to recoup $150 million investment

What you need to know
The EOS-heavy startup is proposing a novel scheme to pay for its new social media platform—will it avoid the same fate as Dan Larimer’s last project, Steemit?

Why it's important
Though many questions about the economics remain unanswered—including the percentage of Block.one’s take and whether the total supply of Voice is capped, or infinite—the idea is that the scheme could bring in enough money to pay for the development and running of the network.
Read more here

From the interweb

Here are the biggest stories in the cryptoverse:

  • PayPal, Mastercard, and Stripe invest in Facebook's new cryptocurrency.
  • Tezos Foundation hires co-creator of PwC.
  • World Series of Crypto Trading launches June 20.
  • Canadian University issues blockchain-based diplomas.

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3. ChangeNow recoups 500,000 stolen XRP

Crypto exchange ChangeNow recovers some of GateHub's stolen XRP

What you need to know

Some of the XRP funds stolen between May 30 and June 5 from crypto wallet GateHub have been frozen as they were passing through the platform. It was revealed on June 6 that nearly 100 XRP Ledger wallets on cryptocurrency wallet provider GateHub were hit by hackers, resulting in the loss of some 23 million XRP ($9.2 million).

Why it's important

GateHub community member, Thomas Silkjær, who had earlier warned about the possibility of a breach, published a report on the hack. He considered a number of possible methods the attacker may have used and ruled out others, including phishing attacks and breaches of client accounts. Instead, he suggests it may have been a leak of information from an old database.

We cover this story here

Craig Wright's last throw of the dice

A court has given Craig Wright until Monday to produce all of the bitcoin addresses or face consequences. 

It’s crunch time for Craig Wright.

On Tuesday, a Florida judge ordered Wright to produce a detailed record of all the bitcoin that the self-proclaimed inventor of the cryptocurrency has ever mined by Monday, June 17.

If he doesn’t, legal experts say it could have dire consequences for a lawsuit that puts Wright on the hook for 1.1 million bitcoin (worth nearly $9 billion).

Read the whole thing here

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