Crypto weekly is authored by maaria

PRICE CHANGE: WTD/YTD
- BTC ($6,340): -10% / -52%
- ETH ($319): -21% / -56%
- LTC ($60): -19% / -73%
- XRP ($0.30): -30% / -84%
Total Crypto Market Cap: $215B
BTC Dominance: 51.1%

THIS WEEK IN CRYPTO
- Crypto mining giant Bitmain is on target for $10 billion revenue this year, despite a slump in bitcoin prices since the beginning of the year. Growth at the company has been staggering, as Bitmain’s revenues last year were $2.5 billion, and around $300 million the year before that. Link.

- According to CoinDesk, crypto mining giant Bitmain is filing for an IPO potentially as high as $18 billion this September at a market cap of $40 to $50 billion. China International Capital Corporation will be the underwriter, and the company plans to list on the Hong Kong Stock Exchange in Q4 2018 or Q1 2019. Link.

- Madonna partners with Ripple to raise funds to assist orphans in Malawi via Raising Malawi, a charity that Madonna founded over a decade ago. The fundraiser will run through August 31, and Ripple will match all public donations made in support of the cause. Link.

- Trading volumes on Turkey’s crypto exchanges surged Friday as the country’s fiat currency plunged to record lows on economic jitters. Volumes on exchanges jumped by more than 100 percent over the past 24 hours, reflecting global market worries about President Erdogan’s economic policies, his souring relationship with US President Donald Trump, and Turkey’s ability to repay its debts. Link.

- Audius raises a $5.5 million Series A led by General Catalyst and Lightspeed, with the goal of cutting the middlemen out of music streaming so artists get paid their fair share. Users will pay for Audius tokens or earn them by listening to ads. Their wallet will then pay out a fraction of a cent per song to stream from decentralized storage across the network, with artists receiving roughly 85 percent – compared to roughly 70 percent on the leading streaming apps. Audius plans to launch its open-source product in beta later this year. Link.

- Binance, one of the world’s largest crypto exchanges by trading volume, unveiled plans for its upcoming decentralized exchange. The new platform called Binance Change, will enable users to transfer and trade crypto assets without a centralized operator. Link.

- Gambling is quickly becoming a popular dApp category as over a recent 24-hour period the Fomo3D app attracted more than five times the number of users than CryptoKitties, the game involving breeding cats that famously clogged up the Ethereum network last year. Fomo3D is a gambling app in which contestants try to fleece others via a fictional coin offering. Players sent more than $40 million on the dApp since the first version was launched in July. Link.

- Tencent, the developer of the 1 billion-user social media platform WeChat, is piloting a blockchain ecosystem for invoices together with the Shenzhen Municipal Taxation Bureau. It is the only pilot to have received the official approval of the state tax authority, and has been designed for comprehensive use by consumers, merchants, and tax authorities. Link.

- The SEC has postponed a decision on whether to allow the listing of a bitcoin ETF until September 30. The SEC recently denied a similar request from the Winklevoss twins. Link.

- BitGo, a provider of blockchain security services, adds support for 11 more Ethereum-based tokens, bringing the total number of tokens it supports up to 68. BitGo is looking to expand its hot and cold storage support to 100 tokens by year-end. Link.

- David Marcus is stepping down from the board of directors at Coinbase, citing his new assignment at Facebook leading their blockchain strategy. In the past Marcus has indicated that Facebook may embrace blockchain, specifically referencing the idea of sending crypto payments through its Messenger app. A Coinbase spokesperson said Marcus’ decision to step down was made to avoid the appearance of a conflict of interest, but declined to elaborate. Link.

- Overstock.com subsidiary tZero raised $134 million in its security token offering. tZero plans to spend the money to roll out multiple tokenized securities exchanges around the world. tZero is designed to enable real-time, more transparent securities lending. Link.

- Honeyminer, the crypto mining app that lets users earn bitcoin with laptops, has grown to almost 50,000 users since launching in June. A third of the new customers are located in emerging markets and 5 percent are in Africa. The mining software converts mining rewards from GPU-mineable cryptos such as ether and zcash into bitcoin, and then deposits it directly in users’ digital wallets. Link.

- Dish Network, one of the first major firms to accept bitcoin as a method of payment, has announced it will now accept bitcoin cash. Dish also announced it had switched to BitPay as its crypto payment processor. Link.

- Tecent is piloting a blockchain program to speed up the reimbursement of expenses for company employees. The company piloted the application at a local restaurant in Shenzhen, where an employee paid the bill through WeChat and the payment data was fed through a blockchain to the users’ employer, the restaurant, and the local tax authority. Link.

- Blockchain-based Wikipedia competitor, Everipedia, launched on Thursday, allowing users to earn its IQ tokens for adding or editing articles to the platform. These tokens will let users participate and vote on network governance issues. The platform is built on top of the EOS blockchain, and initially distributed its IQ tokens through an airdrop after EOS went live. Any user who owned EOS tokens could receive IQ tokens. Link.