PRICE CHANGE WTD/YTD

- BTC ($5,165): +26% / +38%
- ETH ($174): +23% / +30%
- LTC ($93): +55% / +205%
- XRP ($0.35): +16% / +2%
- Crypto Market Cap ($181B): +26% / +44%
- BTC dominance: 50%

THIS WEEK IN CRYPTO

- Bitcoin experienced a more than 20 percent surge in less than an hour earlier this week. Algorithmic traders are suspected to be behind the price spike - one crypto fund had automated software set up to execute a $100 million trade across three exchanges which is believed to have started the run up. Link. 

- The US SEC published regulatory guidance for token issuers, nearly half a year in the making. The guidance focuses on tokens and outlines how and when cryptocurrencies may fall under a securities classification. Factors include an expectation of profit, whether a single or central group of entities are responsible for specific tasks within the network, and whether a group is creating or supporting a market for a digital asset. The guidance also details how issuers should reevaluate tokens previously sold, including criteria like: token functionality, token utility, and limited prospects for appreciation. Link. 

- The SEC issued its first 'no action' letter clearing an ICO to sell tokens in the US. The SEC ruled that the tokens used by business-travel startup TurnKey Jet are not securities and outlined the following conditions: token-generated funds can't be used to develop the company's tech, the tokens are immediately useful and can only be used for air charter services, the tokens are fixed at the price of one US Dollar, and tokens are not represented as having profit potential. The SEC is also requiring that the tokens not be transferable, meaning the tokens can't be listed on third party platforms. Link. 

- Google searches for Bitcoin hit highs this week as the price of the cryptocurrency surged nearly 20 percent in a single hour and investors, traders and the media searched for reasons why. Studies have shown that there is a connection between the price of bitcoin and its search interest - periods of low search volume tend to precede large markups in price that coincide with bitcoin's wild market cycles. Link. 

- Bitcoin Cash is the biggest winner this month, up almost 94 percent from March. Some analysts pointed to fundamentals driving the gains, including an increase in bitcoin cash futures trading on Kraken, the launch of a new protocol that allows developers to create new tokens to trade on bitcoin cash's blockchain, and the news that Bitcoin.travel is now allowing users to book flights using bitcoin cash. However other analysts believe that bitcoin cash was simply following bitcoin as it traded higher. Link. 

- About $118 million was raised through ICOs in Q1 2018. That was 58x less than the $6.9 billion raised in Q1 2018. Link. 

- Barclays and RBS were among 40 companies to test a new blockchain platform to streamline the process of buying and selling property. The tech could cut the time it takes to buy a house from months to weeks and result in annual savings of about $160 billion globally; the platform allows multiple parties to work on a single property transaction and monitor its progress in real time. The software was developed by Instant Property Network, a company backed by blockchain software firm R3, and is expected to have a full launch later this year. Link. 

- Blockchain startup Radar, which raised $10 million in Series A funding last year, revealed a new suite of tools for developers working on the lightning network, bitcoin's second layer for scaling payments. The developer tools include setting up a lightning node, a playground where users can test if their lightning node can connect to other nodes, and a liquidity tool to make sure users can send and receive payments. Radar is best-known for creating Radar Relay, a decentralized exchange for trading tokens. Link. 

- Atomic Capital, an asset tokenization startup founded last year, is offering the most aggressive terms in the crypto-backed lending space. The firm is offering USD loans for up to 85 percent of the value of bitcoin or ether pledged as collateral - this is compared to BlockFi which offers a maximum LTV of 50 percent or SALT Lending which offers loans with LTVs from 30 to 70 percent. To compensate for the additional risk Atomic will charge interest rates of 11 percent to 13 percent. Link. 

- Coinbase joins the ranks of companies like Facebook and Amazon as a top 50 place to work in 2019 according to LinkedIn. The annual list ranks businesses on 4 categories: interest in the company, engagement with the company's employees, job demand, and employee retention. Link. 

- Venture fund Andreessen Horowitz announced it had applied to become a registered investment advisor, so as to allow it to place larger bets and invest more heavily into high-risk asset classes, such as cryptocurrencies. In addition to being able to invest as much as $1 billion into these riskier bets, the firm's employees can now also collaborate on deals. The firm has already invested heavily within the crypto space, and recently launched a $300 million crypto-specific fund. Link. 

- Coinbase customers can now transfer funds to any user using either XRP (Ripple's cryptocurrency) and the exchange's stablecoin, USDCoin, with no fee. The ability to transfer will make it easier for customers to send payments across borders instantaneously.

- Crypto exchange Liquid announced it has raised a Series C round valuing the company at over $1 billion. The exchange doesn't have the same trading volumes as others - it is ranked the 60th largest exchange by trading volume - but is licensed in Japan which is a very large crypto market. The capital will be used to expand into new markets and offer new services including a platform for security tokens. Link. 

- The State Bank of Pakistan announced plans to issue a digital currency by 2025 to promote financial inclusion and reduce inefficiency and corruption. Digitalization is expected to promote transparency and reduce dependence on human resources, as well as encourage people to invest in technology and innovation. Link.