HomeCryptocurrencyDaily RecapDaily Crypto Roundup 1/7/2019

Daily Crypto Roundup 1/7/2019

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Today in the crypto world, CoinFLEX announced crypto-settled futures, Coinbase found an Ethereum Classic double spend hack, Ledger announced a new Bluetooth wallet and Japan considered a crypto exchange-traded fund (ETF). Kraken also revealed the burden of government subpoenas and Charlie Lee tweeted about “bitcoin extremists”.

Crypto Insider additionally released a piece on bitcoin’s market journey and the growth that lies ahead.

Catch up on the details:

CoinFLEX Exchange Offers Physical Crypto Futures On Asian Market

According to news from Bloomberg today, Crypto Insider reported on a new crypto futures operation stemming from CoinfloorEX. The exchange, CoinFlex, will be open on Asian markets and will feature physical cryptocurrency backing.

In affiliation with Britain’s Coinfloor crypto exchange, CoinfloorEX rebranded to CoinFLEX. Roger Ver, among others, is the reported owner of the new Hong Kong-based CoinFLEX operation.

Starting next month, CoinFLEX is said to offer derivatives on several top crypto assets, including bitcoin, bitcoin cash, and ethereum.

Read on Crypto Insider

Coinbase finds ETC double spend hack

On January 5th, Coinbase found a  flaw in the Ethereum Classic platform that allows for a double spend attack.

Coinbase reported the issue on Twitter, stating “Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the ETC blockchain.”

Read on Crypto Insider

Ledger Crypto Wallet Goes Mobile With Bluetooth-Ready Nano X

According to an announcement, yesterday at the Consumer Electronics Show (hosted in Las Vegas), dominant crypto hardware wallet producer Ledger has unveiled a new wireless product called the Nano X.

The new Nano X hardware wallet includes Bluetooth capabilities, making it compatible with mobile devices. Ledger also developed a mobile app for the product.

Read on CoinDesk 

Japan Explores Crypto ETFs After Snubbing Futures

According to a Bloomberg report today, Japan has decided not to approve cryptocurrency-based derivatives products. They are, however, reportedly still considering crypto exchange-traded funds (ETFs).

Japan’s “Financial Services Agency [FSA] is currently gauging industry interest in ETFs tracking digital currencies, according to a person familiar with the agency’s thinking who requested anonymity discussing private plans,” explained Bloomberg.

The FSA decisions are the result of a lengthy investigation concerning the logistics behind the infamous and sizeable Coincheck hack last year.

Read on Bloomberg

Crypto Exchange Kraken Says US Subpoenas Becoming ‘Barrier to Entry’

According to compiled information, the Kraken exchange has expressed concerns with this past year’s government inquiries.

Kraken’s 2018 report revealed “that the law enforcement and other inquiries it has received from various government agencies around the world have almost tripled year on year,” reported CoinDesk.

Kraken faced 475 subpoenas last year. In 2017, the organization only received 160. U.S. agencies sent 315 of last year’s 475 subpoenas. Kraken stated these requests to be time-consuming and costly.

Read on CoinDesk

Litecoin Founder Stokes Debate Over ‘Bitcoin Extremists’ Tweet

Litecoin’s Charlie Lee started a controversial tweet debate yesterday on the state of bitcoin maximalists, calling them “extremists”.

“Some self-proclaimed Bitcoin Maximalists are actually Bitcoin Extremists. They think all other coins are scams and will go to zero. Maximalists think Bitcoin is and will remain the dominant cryptocurrency but there is room for altcoins to exist and even do well,” Lee tweeted.

Lee’s tweet received a bevy of responses and backlash, as one would expect from such a tweet.

Read on CoinTelegraph

Written by

BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.

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