Bank of France Governor: Crypto Can’t Be Private, Lightning Torch Stolen, Bitfinex Lawsuits Consolidate

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bank of France governor declares digital currencies cannot be private. 15 million BTC hasn’t moved in more than a year. Four class-action lawsuits against Bitfinex consolidated into one. Deutsche Bank states bitcoin is still “too volatile” to be a reliable store of value. Second Lightning Network torch pillaged four times, and SLP token HONK is listed on the Altilly exchange.

Bank of France Governor Says Digital Currencies Can’t be Private

Bank Of France

Bank of France governor Francois Villeroy de Galhau stated digital currencies cannot be private, and central banks should be the only ones behind their issuance. During an interview, the Bank of France governor remarked money was “a public good of sovereignty.” This appears to be part of the worldwide reaction against the issuance of privately produced digital money such as like Libra, the cryptocurrency project from Facebook. Since the Libra announcement, research by central banks in the realm of Central Bank Digital Currencies by several countries has increased.

HODL Realized: 15 Million BTC Static for at Least a Year

While the HODL proposition started as a meme in a forum, it is now come to be integrated as an important part of the BTC maximalism trait set. According to information from the statistics page BitinfoCharts, more than 15 million BTC are stashed in “dormant” walletS that haven’t been moved for more than a year. It’s considered remarkable by some analysts given price swings happening day after day in the cryptocurrency market. The number of BTC in dormant addresses is projected to keep rising, as the HODL meme crystallizes even more.

Bitfinex Class Action Lawsuits Consolidated Into One

Bank Of France

Bitfinex, an important cryptocurrency exchange, is facing the consolidation of four class-action lawsuits within the Southern District of New York. The lawsuits point to the stablecoin company Tether playing an important part in the bitcoin price bubble that happened back in 2017. The exchange allegedly used its close relationship with Tether, the company behind USDT, to manipulate market prices. Consolidated lawsuits are different from the lawsuit the New York Attorney General against Bitfinex and Tether for their alleged involvement in $850 million worth of unexplained losses.

Deutsche Bank: “Bitcoin Too Volatile” to be a Store of Value

Bank Of France

Deutsche Bank, an important private bank, stated bitcoin is still “too volatile” to be considered as a reliable store of value. During the bank’s “The future of payments” series, dealing with how payments will be made in the coming ages, Deutsche Bank also recognized while bitcoin represents a minuscule part of payments made on a worldwide level, its participation has risen significantly in the last few years. “Still in their infancy, digital currencies have the potential to radically change payments, banking, central banking, and the balance of economic power,” the bank concluded.

Second Lightning Torch Stolen Four Times

A new Lightning Network torch, a device to test the viability and limits of the Lightning Network, the supposed second layer solution for BTC’s projected scaling issues, was released. This time, it has not been successfully passed along due to the action of dishonest bearers who have stolen the torch four times already. While the Lightning torch has been “reignited” with funds of other users, the situation points to the weakness of trust-based systems in trading and payments, and reaffirms the need for solid, trustless based platforms. Its creator seemed to agree on some level, remarking how the second torch is “fast becoming a meme with all these thefts.”

HONK SLP Token Listen on Altilly Exchange

HONK, an SLP token inspired by the “Clown World” meme, and one of the first SLP tokens issued, is now listed on Altilly, a cryptocurrency exchange. Users can purchase and trade their HONK on a more traditional exchange platform instead of just on Memo.cash. The HONK ecosystem is quickly growing, with a site called Honk-A-Bet in the works. It’s to be funded with the first Initial Token Offering for the SLP ecosystem, the SBS (Sports Betting Shares) Token Sale, currently live.

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