CHINA WARNING: China’s recent multi-front embrace of blockchain technology has divided the global cryptocurrency community. While some see it as helpful validation, others worry that crypto is diverging further from its anti-authoritarian roots. CoinDesk spoke with one anonymous bitcoiner who grew up in China. Far from seeing blockchain “adoption” as a march toward liberation, he expects the government to use the technology to increase its control over the population. Full interview
NOT LOST? There’s as much as $10 billion in stolen crypto on the market, according to Pawel Kuskowski, CEO of blockchain sleuthing firm Coinfirm. Coinfirm has teamed up with global investigations firm Kroll, a division of consulting firm Duff & Phelps, to help victims get their funds back. ReclaimCrypto, the joint initiative, combines the latest blockchain forensic techniques with traditional forms of legal investigation and asset recovery. Full story
NEARLY THERE: Canadian investment fund manager 3iQ has received initial approval to launch a closed-end bitcoin fund on either the Toronto Stock Exchange or the TSX Venture Exchange later this quarter. The firm said it’s received a favorable ruling before the Ontario Securities Commission (OSC) for the Bitcoin Fund, noting the commission moved to direct the OSC Director to issue a receipt for a final prospectus. Full story
POWER STRUGGLE: A transcript of a Bitmain staff meeting obtained by CoinDesk reveals an ugly power struggle inside the world’s biggest bitcoin miner maker that led to the abrupt ousting of co-founder Micree Ketuan Zhan. At the meeting, Bitmain co-founder Jihan Wu, who started the company with Zhan in 2013, explained why he thought it was necessary to oust his long-time partner and former co-CEO. “Zhan escalated what should be a disagreement on an ordinary company business decision to the level of power struggle,” Wu told the staff, further accusing him of pushing “crazy” ideas within the firm. Full story
11 YEARS: Halloween marks the eleventh anniversary of the release of the white paper for the first fully decentralized, peer-to-peer electronic cash by anonymous creator(s) Satoshi Nakomoto. In the wake of the Great Recession of 2007–2009, a single email for a small collective of cypherpunks proved to be the catalyst for a monetary revolution. Full story |
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HALVING PUMP? Bitcoin's low-volume pullback looks to have ended with a solid bounce from the 200-day average support. The cryptocurrency will likely leave October on a high note with a rise to $9,500 and may repeat history by picking a strong bid in November – six months ahead of the May 2020 reward halving. Full story |
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