//Top Five Cryptocurrency News Stories in Five Sentences or Less (10/12/2018)

Top Five Cryptocurrency News Stories in Five Sentences or Less (10/12/2018)

Around the Block is a daily crypto news update sent directly to your phone.  We breakdown the top five stories in five sentences or less. No BS. No Bias. https://ift.tt/2OmdTus) SEC subpoenas St. James Trust over possible pump and dump, false $100 million investmentIn a release, the SEC has announced that they have issued a subpoena to St. James Trust to determine whether the company or its sole trustee, Jeffre James, was involved in an alleged pump and dump scheme for a company named Cherubim Interests, Inc. The release states: “the SEC has reason to believe that to ‘pump’ its stock price, Cherubim issued false public statements in January 2018 claiming that the company had executed a $100,000,000 financing commitment to launch an initial coin offering for St. James Trust. After Cherubim’s stock price and trading volume increased on this news, certain individuals associated with the company may have ‘dumped’ their overvalued Cherubim stock for significant profits.” The investigation is ongoing.2) Coinbase adds 0x protocol token, ZRX, on its trading platform, Coinbase ProCryptocurrency exchange Coinbase announced yesterday that they are adding ZRX to Coinbase Pro. “As of 10am PT on Thursday, October 11, we are now accepting deposits for ZRX on Coinbase Pro,” they wrote on their blog. They will enable trading of ZRX with ZRX/USD, ZRX/EUR and ZRX/BTC pairings, available “in most jurisdictions,” except New York initially. A separate rollout announcement will be made for the mobile apps and the coinbase.com website.3) Nouriel Roubini tells senate blockchain and crypto are “mother of all scams and bubbles,” and “most over-hyped technology ever”In his testimony for the US Senate Committee on Banking, Housing and Community Affairs, Nouriel “Dr. Doom” Roubini calls blockchain technology “the most over-hyped technology ever” adding it’s “no better than a spreadsheet/database.” He also referred to cryptocurrency as “the mother or father of all scams and bubbles.” He further reiterated: “Scammers, swindlers, criminals, charlatans, insider whales and carnival barkers tapped into clueless retail investors’ FOMO, and took them for a ride selling them and dumping on them scammy crappy assets at the peak that then went into a bust and crash — in a matter of months — like you have not seen in any history of financial bubbles.”4) Researchers outline how China’s dominance in the Bitcoin ecosystem gives them an upper hand in threatening itResearchers from Princeton University and Florida International University say there are ways through which China can use its miners’ dominance over the Bitcoin blockchain to undermine the system. “As of June 2018, over 80% of Bitcoin mining is performed by six mining pools, and five of those six pools are managed by individuals or organizations located in China.” The paper lists “a taxonomy of attacks China can deploy to influence the Bitcoin ecosystem.”5) Century-old auction establishment Christie’s to record art collection on blockchain“In an industry first, each artwork from An American Place: The Barney A. Ebsworth Collection sold at Christie’s this November will include a secure, encrypted certification of the sale for the successful bidder, providing a permanent digital record of relevant information about the artwork,” Christie’s wrote in an announcement. The auction is expected to net over $300 million and will include major artworks from the auction house’s Barney A. Ebsworth Collection, which they say is “widely recognized as the most important privately-held collection of 20th Century American Art.”

Around the Block is a daily crypto news update sent directly to your phone.  We breakdown the top five stories in five sentences or less. No BS. No Bias. https://aroundtheblock.news/
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1) SEC subpoenas St. James Trust over possible pump and dump, false $100 million investment

In a release, the SEC has announced that they have issued a subpoena to St. James Trust to determine whether the company or its sole trustee, Jeffre James, was involved in an alleged pump and dump scheme for a company named Cherubim Interests, Inc. The release states: “the SEC has reason to believe that to ‘pump’ its stock price, Cherubim issued false public statements in January 2018 claiming that the company had executed a $100,000,000 financing commitment to launch an initial coin offering for St. James Trust. After Cherubim’s stock price and trading volume increased on this news, certain individuals associated with the company may have ‘dumped’ their overvalued Cherubim stock for significant profits.” The investigation is ongoing.

2) Coinbase adds 0x protocol token, ZRX, on its trading platform, Coinbase Pro

Cryptocurrency exchange Coinbase announced yesterday that they are adding ZRX to Coinbase Pro. “As of 10am PT on Thursday, October 11, we are now accepting deposits for ZRX on Coinbase Pro,” they wrote on their blog. They will enable trading of ZRX with ZRX/USD, ZRX/EUR and ZRX/BTC pairings, available “in most jurisdictions,” except New York initially. A separate rollout announcement will be made for the mobile apps and the coinbase.com website.

3) Nouriel Roubini tells senate blockchain and crypto are “mother of all scams and bubbles,” and “most over-hyped technology ever”

In his testimony for the US Senate Committee on Banking, Housing and Community Affairs, Nouriel “Dr. Doom” Roubini calls blockchain technology “the most over-hyped technology ever” adding it’s “no better than a spreadsheet/database.” He also referred to cryptocurrency as “the mother or father of all scams and bubbles.” He further reiterated: “Scammers, swindlers, criminals, charlatans, insider whales and carnival barkers tapped into clueless retail investors’ FOMO, and took them for a ride selling them and dumping on them scammy crappy assets at the peak that then went into a bust and crash — in a matter of months — like you have not seen in any history of financial bubbles.”

4) Researchers outline how China’s dominance in the Bitcoin ecosystem gives them an upper hand in threatening it

Researchers from Princeton University and Florida International University say there are ways through which China can use its miners’ dominance over the Bitcoin blockchain to undermine the system. “As of June 2018, over 80% of Bitcoin mining is performed by six mining pools, and five of those six pools are managed by individuals or organizations located in China.” The paper lists “a taxonomy of attacks China can deploy to influence the Bitcoin ecosystem.”

5) Century-old auction establishment Christie’s to record art collection on blockchain

“In an industry first, each artwork from An American Place: The Barney A. Ebsworth Collection sold at Christie’s this November will include a secure, encrypted certification of the sale for the successful bidder, providing a permanent digital record of relevant information about the artwork,” Christie’s wrote in an announcement. The auction is expected to net over $300 million and will include major artworks from the auction house’s Barney A. Ebsworth Collection, which they say is “widely recognized as the most important privately-held collection of 20th Century American Art.”