27 Jun, 2018 0 Commentaries 432 Views

Facebook has Reconsidered its Policy regarding all Things Crypto

Facebook has Reconsidered its Policy regarding all Things Crypto

Facebook is big on ads, right? Only one particular type was banished from its pages earlier this
year. Too much scum behind crypto-related services. Well, fair enough.

But ads are essential for any social media website, so Facebook has changed its stance and lifted
its ban just a little. Now every single product is going to be carefully reviewed to obtain an
approval, says their recent blog post. And ICOs along with binary options are still subject to the
previously established ban. That’s understandable, because it’s really hard to check the
credibility of a project with no real history, quite unlike exchanges, for instance, which most
likely will be all around on Facebook again in no time.

An Epic Fail of one Exchange that Might Cost its Users Thousands of Dollars

Sometimes you don’t even have to be a hacker to get your hands on other peoples’ money. So it
happened with a minor South Korean exchange called Bitkoex just last week. Out of the blue
presumably one of the staff posted a massive list of public and private keys in a group chat in a
popular messenger app. This data contained a total of about $650,000 in digital assets.

To think it happened in South Korea of all places, where two other exchanges recently reported
big losses due to a security breach. And then some serious scrutiny started, so regulators now
have access to all data about trading activities on the exchanges in their jurisdiction.
Whether any of those compromised wallets have been accessed by unauthorized parties is still to
be reported.

The Crypto Industry is on the Lookout for the Ties with the Government
Andreessen Horowitz (an investment firm based in California) recently announced a new crypto
fund with the purpose of investing in promising blockchain projects. Katie Haun was appointed
the chief manager of the newly established entity. This move indicates that Horowitz is looking
for some serious legal support, because Ms. Haun has an impressive professional background as
a former US federal prosecutor at the Department of Justice.

Other general partners at the firm (most notably Chris Dixon) have voiced their long-term
commitment to the blockchain sector. According to him, the plan is to invest consistently over
time, regardless of market conditions. And in case of another “crypto winter” when the fund will
have to invest aggressively, the prominent lawyer might come in handy.

Turmoil and Criticism Surrounding EOS Business Model Doesn’t Seem to

The leader of the latest Chinese blockchain projects index EOS just can’t come to terms with the
governance model it opted for at the very start. Too much trouble finding some common ground
with the community and outside observers.

Of major concern is everything that has to do with EOS: the process of electing block producers,
voting them out of their positions and this one question – exactly what do they do with their
rewards of approximately $100,000 per day? Cashing out is not an option as of yet. But are they
really used to incentivize voters?

In the meantime, the token keeps plummeting and is now trading at $7.57 against $15.35 at the
beginning of June.

Is the Crypto Renaissance Coming Soon?

Will we ever see the legendary institutional capital flowing in our way? Many think it is the only
solution to revive the somewhat stagnant market with the bears pressing on. But is it really?
And what about your average Joe on the street?

Recently another poll has been conducted for the Dutch banking giant ING primarily among 13
European nations. 15,000 respondents were interviewed. And it showed a significant increase in
the awareness of cryptocurrencies. The U.S. and Australia were also involved.

The interesting part is that lower income countries are more up-to-date with digital money.
Overall, some 66% of European respondents have heard of cryptocurrency with just 9%
possessing a certain amount of digital assests. This gives a lot of space for potential buyers and
new investors, because less than a third of European respondents said they would never invest in

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