Daily Bit July 9, 2018

Tweet of the Day

For once, Im 100% qualified to talk about current news #ThaiCaveRescue
Hi I’m Puff & I’m a cave/cavern/tech/Nitrox/tri mix/wreck cert’d diver. Summer 01, I worked at a dive equipment manufacturer and was part of the only team in all central FL Buckle up, we’re talking rescue 1/X

– @Where_is_Puff


If you’re looking for a quality brief on the situation in Thailand, it’s in that thread above.

Top Cryptos By Market Cap

BITCOIN (BTC) |  -0.99% | $6,779.93
ETHEREUM (ETH) |  -2.12% | $484.77
RIPPLE (XRP) |  -3.16% | $0.47727
BITCOIN CASH (BCH) |  -2.92% | $749.66
EOS (EOS) |  -5.11% | $8.58
LITECOIN (LTC) |  -3.76% | $82.21

*As of 8:45AM EST

Word On The Street

Whale Watching
From a news perspective, these past few days were calm. America’s double dose of holiday weekends and the market cap’s relatively stable placement in the $260B – $280B range undoubtedly contributed to the hush.

The most prominent news? In our opinion, chatter about the CBOE’s latest pitch to the SEC for a Bitcoin ETF. While the application was submitted in late June, most folks seem to agree that a product wouldn’t be available until at least Q1 2019.

But don’t let that detract from behind the scenes activity taking place with blockchain venture capitalists. Like @notsofast noted in a Sundayevening tweet, “Bearmarket lulls like 2014-15 are when edge-seekers find their edge and build it to advantage.”

And based upon the growing balance of capital being devoted to blockchain funds, we consider Whale Watching to be more important than ever. Brave New Coin covered the industry’s top VCs in a recent article. Five of the most influential ones from that post are relayed below:

Digital Currency Group
Total Blockchain Investments: 58 ($78 million)
Top Investments: Basis, Blockchain Inc., Circle, Ledger
Leadership: Barry Silbert (Founder)
Investments in Past Year: 15
Link to more info

Pantera Capital
Total Blockchain Investments: 31 ($65 million)
Top Investments: Basis, Circle, DMarket, Harbor
Leadership: Dan Morehead (CEO and Chief Investment Officer)
Investments in Past Year: 13
Link to more info

Blockchain Capital
Total Blockchain Investments: 37 ($71 million)
Top Investments: Blockstream, Circle, Coinbase, Ripple
Leadership: P. Bart Stephens; W. Bradford Stephens (Managing Partners)
Investments in Past Year: 12
Link to more info

Andreessen Horowitz
Total Blockchain Investments: 14 ($55 million)
Top Investments: Basis, Coinbase, DFINITY, Harbor
Leadership: Ben Horowitz; Marc Andreessen (Co-Founders)
Investments in Past Year: 9
Link to more info

Node Capital
Total Blockchain Investments: 22 ($20 million)
Top Investments: HuoBi, Delphy Foundation, Fengwo, Trip.io
Leadership: Du Jun (Founder)
Investments in Past Year: 21
Link to more info

What Else You Should Read For Today

By The Numbers

  • Bitcoin trading in China’s currency, the renminbi (RMB), dropped to under 1% of fiat totals.
  • Castbox, a podcasting app that secured $13.5 million in Series B funding this April, will be implementing a blockchain-based payment and rewards system with Wondery, their Fox-backed partner.
  • Binance continues to lead by example both on and off of the exchange with a $1 million donation to individuals in Western Japan that were impacted by recent landslides and floods.

General

  • Google co-founder Sergey Brin is pumped for zero knowledge proofs, a technology used in ZCash that allows people to prove something without revealing how they did it.
  • Andreas Antonopoulos explains why open blockchains such as Bitcoin are necessary when creating a borderless, censorship-resistant internet of money.
  • Pierre Rochard talks about Bitcoin’s governance model, specifically who is involved in the decision making process and the procedures that are currently followed.

Markets

  • Facebook appointed senior engineer Evan Cheng as their first director of blockchain engineering, further legitimizing their interest in distributed ledger technology.
  • Augur, a prediction market built on the Ethereum blockchain, is due to launch their official platform later today.
  • Ant Financial, the $150 billion subsidiary of Alibaba Group, is looking at Blockchain as well as AI, Security, IoT, and Computing as areas that will be key for future business growth.
  • Republic Protocol, a decentralized dark pool platform, shared R&D updates from Q2 and new improvements to be released in advance of their official launch.

Problematic

  • Back at it again – Ripple Labs was accused of securities fraud in the third lawsuit that the company has received in the past two months.

Regulation

  • South Korean officials are expected to review a new classification system for companies operating in the blockchain space this Wednesday.

 

THAT’S ALL FOR TODAY!

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