Hodler’s Digest, February 4–10: Top Stories, Price Movements, Quotes and FUD of the Week
(Source: cointelegraph.com)

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(Original link: cointelegraph.com)

Hodler’s Digest, February 4–10: Top Stories, Price Movements, Quotes and FUD of the Week The mystery around embattled crypto exchange QuadrigaCX deepens, and Facebook acquires a blockchain startup. Facebook acquires some blockchain-skilled personnel, Venezuela gets a crypto framework, and more in this week’s Hodler’s Digest 29 Total views
Facebook Reportedly Acquires Blockchain Startup in First Blockchain-Related Acquisition Social media network Facebook has reportedly acquired blockchain startup Chainspace in its first apparent blockchain-related acquisition. According to news outlet Cheddar, the acquisition is considered an “acquihire,” or an acquisition of a company made in order to get the skills or expertise of its staff, as opposed to the company’s service or products. According to Cheddar, four of the five researchers that worked on Chainspace’s academic white paper will be joining Facebook. Facebook had told Cheddar that it had not acquired any of Chainspace’s technology.
Leaked Mt. Gox Info Purports to Show $318 Million in Bitcoin, Bitcoin Cash on BitPoint According to leaked documents reportedly showing the rehabilitation proceedings of defunct cryptocurrency exchange Mt. Gox , the trustee for the process has sold around $318 million in Bitcoin ( BTC ) and Bitcoin Cash ( BCH ) on trading platform BitPoint . The information, which purportedly comes from the Tokyo District Court, shows incomplete scans of transaction at BitPoint, reportedly confirming that Mt. Gox trustee Nobuaki Kobayashi sold coins on a major exchange to repay creditors . CEO of United States exchange Kraken Jesse Powell has previously noted that Kraken’s suggestions for selling coins in an auction or with an OTC broker were not acted on.
Venezuela’s New Crypto Legal Framework Comes Into Force, Doesn’t Mention Petro Venezuela ’s new crypto legislation, which establishes a legal framework for the industry, officially came into force at the end of January. The official set of rules, which makes no mention of the national cryptocurrency Petro , was initially approved by the Constituent National Assembly — an alternative to the country’s Parliament, created in 2017 — in November 2018. The bill lets the national crypto watchdog inspect crypto-related commercial activities in the country. Also this week, Bitcoin trading reached an all-time high in the country amid the hyperinflation and ongoing presidential crisis, above 2,000 BTC on the week.
QuadrigaCX Controversy Continues as Securities Regulator Begins Investigation As research this week has alleged that major Canadian crypto exchange QuadrigaCX may not have the cold wallet reserves that it had reported, the Ontario Securities Commission (OSC) has initiated a probe into the situation. The exchange had filed for creditor protection after the death of its founder in late December, Gerald Cotten, who allegedly controlled all of the exchange’s funds. Roughly 115,000 customers are without access to their funds, and a court-ordered lawyer will receive the encrypted laptop — which allegedly contains the crypto reserves — from QuadrigaCX representatives as per a court order. Moreover, the crypto exchange’s lawyers are considering selling the company to cover the debts.
BitTorrent Token Sales Sells Out in Under 15 Minutes, Makes Over $7 Million The BitTorrent token (BTT) sale on the Binance Launchpad platform that concluded earlier this week net $7.1 million with the sale of 50 billion tokens in under 15 minutes. The BTT is based on a Tron TRC-10 token and will be used in order to transact computing resources between BitTorrent clients and other service users. Each token was priced at $0.00012, and were sold on the Binance Launchpad in two simultaneous sessions, one for those using Binance’s native token and the other for those using Tron ( TRX ). Winners and Losers
The crypto market has seen a slight uptick at the end of the week, with Bitcoin trading at around $3,654, Ripple at about $0.30 and Ethereum at around $117. Total market cap is at about $120 billion.
The top three altcoin gainers of the week are Guaranteed Ethurance Token Extra, Nullex and MMOCoin. The top three altcoin losers of the week are Ultra Coin, bitqy and DOWCOIN. For more info on crypto prices, make sure to read Cointelegraph’s market analysis . Most Memorable Quotations Jack Dorsey , CEO of Twitter and Square
Changpeng Zhao , CEO of Binance “There are 2,000 cryptocurrencies out there, 95 percent of them are useless and will die a painful death. The sooner that happens, the better.” Matt Hougan , Global Head of Research at Bitwise Asset Management and president at ETF.com
“Eventually, do I think someone will satisfy the standards we’ve laid out there? I hope so, yes, and I think so.” Robert J. Jackson Jr. , the SEC’s only Democratic commissioner, speaking about Bitcoin exchange-traded funds
“Thus, transparency and instantaneity are the true strengths of the blockchain, and should generate not only significant time savin...

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