



















1. Friday, July 27: The Winklevoss twins' bitcoin ETF was rejected







"In a 3-1 decision [by the US Securities and Exchange Commission], only Commissioner Hester M. Peirce dissented."

"'More institutional participation would ameliorate many of the Commission's concerns with the Bitcoin market that underlie its disapproval order,' she wrote in a statement, adding that the decision 'sends a strong signal that innovation is unwelcome in our markets.'"





LongHash Take: The rejection of the ETF by the SEC, a key US regulator, was a widely publicized decision that appeared to signal continuing US government skepticism (or at best enduring patience) toward further institutionalizing cryptocurrencies. More ETF applications to come, so keep an eye on them.







2. Friday, July 27: Another ICO Hacked: KICKICO Loses $8 Million After Smart Contract Breach





"Dissimilar to most cryptocurrency, blockchain network, and token hacking attempts, the security breach of KICKICO was unique in that the hackers were able to gain direct access to the smart contract of the KICKICO blockchain network by obtaining the private key of the KickCoin smart contract.”





LongHash Take: Another week, another hack. And innovative hacking, at that! Until security for ICOs and exchanges is able to stay ahead of breaches, both the investor community and the mainstream public will be hesitant to invest their hard-earned cash only to see it snatched away. We can't blame them.





3. Tuesday, July 31: Northern Trust Opens Doors to Cryptocurrency Hedge Funds As Part Of Pervasive Blockchain Expansion





"Beyond the new work with cryptocurrency, Northern Trust is moving to significantly integrate blockchain into the life cycle of its $77 billion private equity business.”





LongHash Take: Custody is a hot issue among crypto hedge funds. Restlessness over investment limits under current regulations is growing, as well as hopes that they'll be lifted some day -- after which institutional capital is expected to flood into the market.





4. Tuesday, July 31: Transaction Costs and Tethers: Why I’m a Crypto Skeptic (by Paul Krugman, Nobel Laureate)







"In other words, cryptocurrency enthusiasts are effectively celebrating the use of cutting-edge technology to set the monetary system back 300 years. Why would you want to do that? What problem does it solve? I have yet to see a clear answer to that question."







LongHash Take: Doesn't help mainstream sentiment when a recipient of the Nobel Prize in Economics condemns cryptocurrencies in The New York Times. Krugman is a noted (and longstanding) pessimist, and while we don't think he paints a complete picture, it's not a good look for the markets.





5. Wednesday, August 1: Canadian Crypto Exchange Coinsquare Rolls Out XRP Markets Ahead of U.S. Expansion





"That fact is notable, since Diamond has said that Coinsquare has an ambitious expansion plan that includes gaining a foothold in Coinbase-dominated markets like the U.S. and U.K.”





LongHash Take: Ripple has valiantly fought off bear-ish market tendencies toward the end of August, in large part thanks to this news. During a downturn, any good news for a major cryptocurrency is good news for all.



