News of the Week

Nike May Be Launching Its Own Cryptocurrency

Nike filed with the U.S. Patent and Trademark Office to trademark the word “cryptokicks”. The trademark would apply to cryptocurrency software and hardware wallets, online marketplace services and virtual financial transaction services. It would also cover “providing online nondownloadable computer software for use as a cryptocurrency wallet; providing a website featuring technology that enables users to mine, earn, purchase, receive by any other means, store, and transfer blockchain-based tokens, coins, cryptocurrencies, and other crypto assets,” the filing stated.

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India About to Ban All Digital Currencies

A draft bill that would outright ban cryptocurrency is reportedly circulating among various departments of the Indian government. The government may have begun inter-ministerial consultations on the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft bill.

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Sim-Swapper Sentenced to 10 Years in Prison for Stealing $7.5m in Crypto

Joel Ortiz, a 21-year student at the University of Massachusetts Boston, was sentenced to 10 years in prison by Santa Clara County Superior Court. Ortiz was convicted of stealing $7.5 million in cryptocurrency using sim-swapping techniques from at least 40 victims including a Silicon Valley entrepreneur. According to Santa Clara officials, this is the first conviction of its kind in the U.S.

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U.S. firm Genesis Loaned More than $1.5 Billion in Cryptocurrency

Cryptocurrency dealer Genesis Global Trading said it loaned digital assets valued at $1.53 billion to institutional borrowers in the year since it launched its lending business in March 2018, an indication of demand for the emerging lending market for cryptocurrencies. Institutional borrowers such as hedge funds and other financial firms have used crypto assets to short digital currencies, hedge investments or finance business operations.

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Analyst: Bitcoin May See $6,400

Over the past 24 hours, Bitcoin has begun to stagnate. While BTC pushed by $5,600 in an unexpected move on Tuesday, Wednesday has seen the asset fall to $5,450. Josh Rager, as the analyst is known, recently opined that if BTC holds above $5,400, it could rebound to $6,400 over the coming weeks.

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Samsung IT Subsidiary Releases New Version of Enterprise Blockchain Platform

Samsung SDS has released a new version of its enterprise blockchain platform dubbed Nexledger Universal. Nexledger Universal offers an application programming interface that can be applied to different blockchains like Ethereum, Hyperledger Fabric and the firm’s own Nexledger Consensus Algorithm. According to the press release, users can then develop applications for authentication, payment settlement, and proof of originality. Nexledger Universal is currently available on Microsoft’s Azure marketplace.

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