Crypto space Over The Past Week From January, 29 To February, 4
At the end of the week, we sum up and collect everything that the crypto community talked about over the past week. Samsung will develope own mining hardware, Bitfury is launching Crystal, dark mining is gaining momentum, news is ruining the course, etc.
Tech: Crystal against criminals, ASIC from Samsung
Bitfury, has launched a number of tools under the name Crystal, which is aimed at identifying and investigating criminal activities related to the use of the bitcoin blockchain. The purpose of the Toolkit once and for all with the idea of bitcoin as means of payment on the dark market.
The Bell reports that Samsung begins mass production of specialized mining ASIC chips in a partnership with an unnamed Chinese mining company. According to the newspaper, the company intends to begin mass production of ASIC chips this month, and it is expected that the distributor will have the same Chinese partner. At the end of the week the information has confirmed by representatives of Samsung. Thus, the South Korean giant in the mining industry will pose a serious competition to the current industry leader, the Chinese company Bitmain, which holds over 70% market share of devices based on ASIC chips.
On the cryptocurrency market and the creators of the popular Japanese Line plan to launch a cryptocurrency exchange, and has already submitted to the financial regulator the application for its registration. The company will also launch a variety of financial services that will be available directly from messenger, including a trading platform for digital currencies.
The US patent office on 2 February released a request filed by the company United Parcel Service (UPS). It involves the creation of automated service the sale of the items on the secondary market. According to the application, UPS is going to build an e-shop with real user cells in order for the buyers to buy things, not interacting with the sellers.
The antivirus recognize the script of the famous web miner CoinHive, who used the computational power of the processors of visitors for mining Monero. It also became known that a botnet called Smominru since its launch in may 2017, has infected more than 526 000 servers on Windows and nominal 8900 Monero (equivalent to $2 million at the time of publication).
Exchange: Coincheck will return the stolen NEM, and CoinMarketCap Korean quotes
Coincheck, a major Japanese cryptocurrency exchange that on the 26th of January as a result of hacking has lost more than $500 million in cryptocurrency NEM, promised to affected clients to refund about $400 million. According to the NEM Foundation, as of January, 31 stolen tokens XEM in the amount of 58 billion yen ($533 million) are in motion, however, no attempt to sell them on the exchanges was not. Recall that the hacking Coincheck is by far the largest theft in the history of cryptocurrency.
The most popular site monitoring courses digital currencies CoinMarketCap back tracking South Korean prices with no official warning or explanation. Although this change could affect the cryptocurrency markets, any positive or negative reactions, it seems, not yet.
The collapse of the bitcoin this week also contributed to other controversial news from Bloomberg. CTFC issued on December, 6 subpoenas cryptocurrency exchange Bitfinex and the company's Tether, which is responsible for the popular cryptocurrency USDT. As soon as this news appeared on the Bloomberg, the rate of bitcoin plummeted by 11%, briefly dropping below $10 000. However, when the information in the article was edited, the rate started to recover.
Grayscale, which is "daughter" of Digital Currency Group, one of the largest cryptocurrency venture capital firms, has added to its portfolio zcash for digital currency that focuses on anonymity. The company issued the investment thesis, according to which by 2025 the zcash for price could reach $60 000.
Regulation: Facebook and India Bans
One of the most talked was the new Facebook advertising policy, which prohibits advertising of cryptocurrencies and the ICO, as they "are often associated with deception." However, some sources report that the copy is still displayed.
Since then, the price of bitcoin down has contributed to the news from India. According to Indian media reports, the government will do everything possible in order to stop the country's use of bitcoin and other digital money. Indian Finance Minister Arun Jetley has reminded that the government does not recognize their legal tender, however, intends to promote the use of blockchain technology in payment systems.
Another bad news from Bloomberg was the failure of American credit card issuers operate with cryptocurrency assets against decrease of their prices. Banking giants JPMorgan Chase, Bank of America and Citigroup announced that they would suspend the practice of purchasing bitcoins and other cryptocurrencies through their credit cards. Press Secretary JPMorgan Mary Jane Rogers explained that the Bank, which introduced the ban on February 3, seeks to avoid the credit risk associated with such transactions. This can have a significant impact on the cryptocurrency market is USA, because, according to the survey Lendedu, more than 18% of Americans use credit cards for buying cryptocurrencies.