Crypto weekly is authored by maaria

PRICE CHANGE: WTD/YTD
- BTC ($6,443): -5% / -52%
- ETH ($470): -11% / -35%
- LTC ($95): -10% / -57%
- XRP ($0.53): -9% / -73%

THIS WEEK IN CRYPTO
- This week the SEC said that Ether is not a security, but that tokens built off of the Ethereum blockchain could still be considered securities. The key for the SEC is whether the token in question is being used simply for the exchange of a good or service through a distributed ledger platform, or whether the value of the cryptocurrency is dependent on the actions of a third party for it to rise in value. Even in cases where the token is a security today, the SEC gave indications that if the token is successful in building a decentralized network it would cease to regulate the token as a security. Link.

- Google searches for bitcoin have reportedly declined 75 percent in 2018, but the cryptocurrency remains a more popular search item than Beyonce. Link.

- Coinbase announced that it would add a fifth digital asset, Ethereum Classic, to its trading platform in the coming months. Ethereum Classic is currently the 18th largest cryptocurrency and its market cap of approximately $1.5 billion is dwarfed by that of Ethereum ($53 billion) and bitcoin ($117 billion). Link.

- Adblock Plus developer launches a blockchain-based browser add-on that labels fake news while marking trustworthy sources and stories. Ratings are based on data compiled by different sources including PolitiFact, Snopes, Wikipedia, and Zimdars’ List. The browser extension, called Trusted News, is in beta and only available for Chrome so far. Link.

- Wells Fargo becomes the latest bank to bar consumers from purchasing cryptocurrency using its credit card. The decision follows similar announcements made by JP Morgan, Citi, and Bank of America, among fears that wild price swings could cause buyers to default on their payments. Link.

- Nvidia continues its expansion in blockchain and is now working with a startup called Ubex to develop a smart online marketing platform that uses blockchain and AI. Ubex is using neural networks to more efficiently present advertisements on websites and believes it can collect datasets faster by using blockchain to underpin the service. The data is stored in a distributed ledger system and will allow them to attract thousands of sources of information that can enrich the AI’s database. Link.

- Mike Novogratz announces a $15 million investment in AlphaPoint, a New York-based fintech company that helps institutions launch trading platforms and tokenize assets with blockchain technology. The company wants to digitize illiquid assets, starting with providing liquidity in the real estate market. Link.

- Kurt Russell is set to star in an upcoming indie film about cryptocurrencies, called Crypto. The film will also feature Alexis Bledel, Jeremie Harris, and Luke Hemsworth. The film focuses on a young anti-money laundering agent who returns to his hometown in New York to investigate a case of corruption and fraud. Link.

- 50cycles, a London-based cycling merchant, will begin offering the world’s first e-bike which generates cryptocurrency rewards the more users ride the bike. By using the e-bike, riders will generate LoyalCoins equal to approximately $26.50 per every thousand miles ridden. The tokens are freely traceable and will be accepted as payment for products. Link.

- Y-Combinator backed Quantstamp is being accused of misleading investors and undermining the value of its token. The company recently raised $65 million in its token offering. According to the company’s published materials, customers are meant to trade and make payments in the Quantstamp token. However, the startup also accepts payment in Ethereum and USD which token purchasers argue the company did not make clear and ultimately undermines the value of the token. Community members also raised concerns last week over the company’s use of open-source technology in the 489 smart contract audits it claims to have completed to date. Link.

- Walmart files a patent that would let users prepay a capped amount of cryptocurrency to cover the expected electricity demands for specific devices. Since the transactions would occur on a public ledger, energy providers would be able to accurately allocate the required electricity to the household. Overall, the system would be much more transparent and could ultimately lead to a balancing of supply/demand and energy savings. Link.

- The Haas School of Business at UC Berkeley announced its participation in the University Blockchain Research Initiative, a new program founded by Ripple to support academic research, technical development, and innovation in blockchain. Berkeley Haas will receive a multi-year, multi-million-dollar gift from Ripple. Berkeley Haas is one of 17 universities around the world partnering with Ripple on the $50 million University Blockchain Research Initiative. Link.

- New startup Elph wants to be the “Netscape for crypto” by making it easier for users to find and use blockchain-based apps. The platform aims for simplicity, users simply sign up with an email and password, and Elph then handles account management across apps based on the unique ID that it assigns them. The platform allows users to easily see how their crypto portfolios are performing, buy/sell CryptoKitties, or to find/use other decentralized apps. Link.

- Hackers pushed malicious, downloadable images to a Docker Hub registry. The images contained programs that had been designed to mine the cryptocurrency Monero. The images had been downloaded 5 million times before the breach had been discovered and the hackers were able to mine $90,000 of Monero, which is a small but significant amount for this type of hack. Link.

- The Bank for International Settlements released a 24-page article saying that bitcoin and other cryptocurrencies suffer from a range of shortcoming that would prevent them from ever fulfilling the lofty expectations that have prompted an explosion of interest in the asset class. The group cited instability, electricity consumption, and rampant fraud and manipulation possible because of decentralization as the primary reasons cryptocurrencies would ultimately not break through. Link.