1) Popular South Korean exchange Bithumb, which saw a volume of $1.06 Billion in the last 24 hours has sold its majority control for $354 Million. BK International Consortium has acquired a 51% share in the exchange, thus giving them complete control. The Consortium is a blockchain investment company formed by BK International, a plastic surgical procedures clinical team in Singapore. Bithumb posted a profit of $35 Million in the first half of 2018, though it lost $40 Million from a hack in June. (Read More)

2) Nouriel Roubini, also known as Dr. Doom testified against cryptocurrencies at the U.S. Senate Committee on Banking, Housing and Urban Affairs hearing on blockchain technology and cryptocurrency. Roubini is reported to have referred to altcoins as “sh*tcoins” when describing how a “70% capital loss was a “good” deal compared to thousands of altcoins that have lost on average 95% of their value since the peak.” Roubini also used the appropriate crypto-terminology to explain that the cryptocurrency world is filled with hopeful “HODLers” who hope to drive “Lambos” and aspire to be as wealthy as “Whales” one day. In a final insult to the cryptocurrency universe, Roubini told the panel that in his humble opinion, ICOs are “a return to the stone age with its lack of a common currency”. Roubini also suggested that ICOs will “create an economy worse than that seen in The Flintstones.” (Read More)

3) In an official blog post, Binance has announced that it will donate the listing fees of new projects to charity. Additionally, the projects that want to be featured in the trading platform will now set their price to appear on the trading platform. To ensure transparency, Binance plans to disclose the project listing fees to the Binance Charity Foundation. However, Binance CEO Changpeng Zhao, warned that a large donation does not guarantee or in any way influence the outcome of their listing review process. (Read More)

4) According to Reuters, The United Arab Emirates intends to introduce initial coin offerings (ICOs) and to set forth a full-fledged regulatory framework in 2019. The ICOs will work as alternatives for companies to raise money. Obaid Said al-Zaabi, Chief Executive at the Securities and Commodities Authority in the UAE, said: “The board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan, we should have regulations on the ground in the first half of 2019.” Furthermore, the EMSCA is reportedly drafting up said regulations with international advisers as well as with the Dubai and Abu Dhabi stock markets. (Read More)

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