HyperLinq : Weekly Digital Asset Digest 10

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Rohan Raman
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The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access relevant news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!


Samsung Joins Corporate Giants Reportedly Eyeing Bespoke Crypto : Osato Avan-Nomayo | CoinTelegraph

Samsung is another big-name company to consider issuing its own cryptocurrency. Similar stories have already emanated from the likes of Facebook and JPMorgan Chase, with analysts speculating on various use cases for these cryptocurrency tokens. While not yet confirmed officially, a “Samsung Coin” could find application as a payment means on the company’s app store and traded on cryptocurrency exchanges. The company has revealed that its flagship Galaxy S10 smartphone will have a built-in cryptocurrency wallet. With these mega-corporations delving into the blockchain scene, it is perhaps important to see how their virtual currency implementation compares with each other and the rest of the virtual currency ecosystem.

Crypto Hits the Auto Industry with Help from Jaguar : Nick Marinoff | LiveBitcoinNews

Imagine earning cryptocurrency rewards just for driving your car. It was only a matter of time before crypto hit the auto industry, and it looks like British car company Jaguar is making the first move. The company also owns Land Rover, which means that both models will be privy to what it’s calling new "smart wallet" capabilities that will allow drivers to be rewarded with the new IOTA cryptocurrency just for sharing data. IOTA is a cryptocurrency based on the Internet of Things and initiated by software and computer giant IBM. All future models will come with the smart wallet software downloaded into their systems. The smart wallet technology can be easily adapted into all new vehicles. IOTA wants to enable interoperability with all these different players, so there is no Jaguar coin, no BMW coin, but one universal token for this machine economy. Upon earning rewards money, drivers can use the funds to pay for tolls, parking and charging for electric vehicles. Jaguar says that its ultimate goals are to "achieve zero emissions, zero accidents and zero congestions" .The company is testing the smart wallet technology at its software engineering base in the town of Shannon in Ireland. Engineers, according to press representatives, have already equipped several vehicles, including the new Jaguar F-PACE and Range Rover Velar, with the smart wallet features, though they didn’t speculate about when these cars would be available for purchase.

Celebrity Crypto-Investments: A Boost for the Industry, but Also a Distraction : Simon Chandler | CoinTelegraph

Marketing loves celebrities — and with good reason. They're "celebrated" people, individuals invested with bulk quantities of cultural capital , which — if tapped correctly by marketing firms — can be reflected onto endorsed products. On April 17, tennis champion Serena Williams became the latest celebrity investor in crypto. She revealed via her Instagram account that she’d secretly launched an investment company, Serena Ventures, in 2014. She also revealed that this company had invested in Coinbase, making her a backer of one of the industry's biggest players. It's not known how much Serena Ventures has invested in America's biggest crypto exchange, although Williams has won nearly $90 million in prize money over the course of her career, while she earned around $18 million in endorsements between 2017 and 2018 alone. She therefore has fairly deep pockets, indicating that her investment in Coinbase could be substantial. Another celebrity and arguably the most active in such companies is Ashton Kutcher, the actor and one-time Calvin Klein model who launched his own venture capital firm — A-Grade Investments — in 2010.

Institutional Love For Crypto Confirms Bitcoin Isn’t a Bubble : Nock Chong | News BTC

Bitcoin (BTC) is the 21st century’s version of tulip mania. That’s the argument that cryptocurrency cynics have lobbed at BTC since its earliest years in circulation. But, more and more evidence is showing that crypto assets, especially Bitcoin, are much more than a flash in the pan, and will instead be a revolutionary technology that will change paradigms.As Interchange co-founder Dan Held recently pointed out, Bitcoin might just be a financial experiment, but it’s been widely successful in its role as a digital asset. As Held notes, since BTC came into being one fateful decade ago, the protocol has processed 400 million decentralized, censorship-resistant, international, and low-fee transactions. What’s more, Bitcoin has a hefty $94 billion market capitalization, making it the world’s 12th largestbase money, according to a chart from Crypto Voices. This simple, jaw-dropping fact is only made even more impressive that the cryptocurrency was entirely issued by a distributed network built on top of the values of game theory, and confined by monetary rules chosen and imposed by the pseudonymous Satoshi Nakamoto. Not so tulip-sounding anymore, right? Fidelity Investments, one of America’s most well-known finance giants, also recently launched its own Bitcoin custodian service, thus opening the door to the cryptocurrency landscape for its 20,000 institutional clients. But that begs the question — if Bitcoin isn’t the latest speculative asset in the history of such assets, what is in its future? While BTC and the technologies derived from it are seeing use outside of being a day-to-day currency, some are sure that Bitcoin will inevitably become a ubiquitous form of money that is a unit of account, a medium of exchange, and arguably most importantly, a store of value. As Brendan Bernstein, the founder of Tetras Capital explains, the “perfect storm” for the widespread adoption of Bitcoin as money is rapidly approaching.

US-Based Traders Dominate Crypto Trading, More Than Next 5 Countries Combined : Tony Spilotro | News BTC

The United States has long been one of the world’s most important economies, having a massive influence on the overall global economy and often helps to shape economic policy all over the world. It’s no surprise that the the country dominates the Bitcoin and overall crypto market similar to how it does other financial markets. In a new published report by cryptocurrency and blockchain analytics firm Datalight, the company has revealed the results of a detailed analysis on the global distribution of Bitcoin and altcoin traders by country. The research looked at website traffic from "the 100 most popular crypto exchanges" to determine the rankings. Following behind the US is another one of the world’s most important economies, with Japan being home to over 6 million monthly crypto traders. In third is Korea, home of Samsung and other tech-forward companies that have recently warmed up to the crypto space. Korea is also home to many cryptocurrency projects, such as ICON .The UK follows in 4th place, with just under 4 million monthly crypto traders. Russian and Brazil ranked 5th and 6th respectively, with both garnering just 3.1 million monthly crypto traders each. China is largely missing from the list, despite being an economic superpower and having a massive population. China tightly controls the way its citizens interact with the internet, and hasn’t been welcoming to the new financial technology and asset class, which could be why the country is absent from the data.

Former CFTC Chair Gary Gensler Says Crypto Market Needs Regulation in Order to Grow : Ana Alexandre | CoinTelegraph

Former chairman of the Commodity Futures Trading Commission Gary Gensler said that the cryptocurrency market needs regulation in order to grow, because consumers must be protected. Gensler shared his views with Cointelegraph at the Business of Blockchain event at the Massachusetts Institute of Technology on May 2. When asked whether a bitcoin ETF would be impactful if approved, Gensler stated

"The Securities and Exchange Commission is doing their work to ensure that if there is an exchange-traded fund, that the markets themselves for those exchange-traded funds and the underlying bitcoin or ethereum it’s referencing is not readily susceptible to manipulation."

According to Gensler, it is important to make sure markets are appropriately overseen and sufficiently mature, and that the chance of manipulation is small or very limited.At the same conference, SEC Commissioner Hester M. Peirce advocated for a lighter regulatory touch when possible, while affirming that security offerings must comply with the SEC’s registration requirements.

Crypto Exchange Bitfinex Looks To Raise $1B With IEO : Nick Chong | Ethereum World News

Last week, Dovey Wan, the founding partner of Primitive Ventures, revealed that Bitfinex was planning to raise $1 billion through the sale of company-branded crypto tokens and an on-platform initial coin offering, more commonly referred to as an IEO. According to a document obtained by The Block, who cites Zhao Dong, a Chinese Bitcoin investor and Bitfinex shareholder as the source for said file, the token being sold will be dubbed LEO. The white paper confirms the hearsay that the Hong Kong-headquartered company is looking to raise $1 billion. Interestingly, however, it has been said that Bitfinex has already agreed to allocate $600 million of the placement to private investors, reported to be crypto industry insiders, whales, and venture capital firms. For instance, Mike Dudas of The Block earlier today took to Twitter to quip that he was offered a chance at an allocation from a "legitimate firm". It is unclear whether the private investors will have access to a cheaper price for each LEO than retail investors, like you or myself.From Cermak’s analysis, it seems that LEO will be used for utility purposes and as a redeemable asset, meaning it, in some senses, is like Binance Coin.

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Rohan Raman

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