TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bitcoin.com $200 million BCH ecosystem fund announced. SEC to review Bitwise ETF application rejection. Fidelity gets trust license for trading and custody in New York. LocalEthereum rebrands to LocalCryptos. Lamborghini to track vehicle authenticity with blockchain, and Iran’s total internet block.
Bitcoin.com Announces $200 Million BCH Ecosystem Fund
— Nicolas Cary (@niccary) November 19, 2019
Roger Ver, executive chairman of Bitcoin.com announced the launch of a $200 million ecosystem fund to help developers integrate bitcoin cash into their applications. The news was announced during a meetup hosted by Nicolas Cary, co-founder of Blockchain.com. While the announcement about the fund was pretty barebones, it’s expected to go live next year.
SEC Will Re-Review Bitcoin ETF Decision
The US SEC announced they are going to review their latest decision where it rejected the application for offering a Bitcoin ETF product by Bitwise, a crypto asset management company. The institution opened a new round of comments to get more insight into the application and its probable future. Bitwise Research Director, Matt Hougan stated, “We’re currently discussing what additional commentary and data we can provide in the 30-day window.” The SEC has rejected every Bitcoin ETF presented.
Fidelity Gets Trading and Custody License in New York
Fidelity, the asset management behemoth, has been granted a trust license to offer custody and trading services in the state of New York. With this designation, Fidelity looks to bring more and more institutional investors into crypto during a market that’s becoming more crowded. Fidelity now competes with Bakkt, the bitcoin futures platform, and with Coinbase Custody, the custody wing of the exchange.
LocalEthereum Rebrands to LocalCryptos
LocalEthereum, the popular Ethereum P2P market exchange, is rebranding itself to LocalCryptos while adding BTC as a supported currency. LocalCryptos, in opposition to its BTC-only counterpart LocalBitcoins, will feature a non custodial approach to trading, with privacy features such as no KYC. They have also encouraged LocalBitcoins traders to switch without starting anew, with an ingenious function of importing their already existing profiles and reputations from LocalBitcoins.
Lamborghini to Track Vehicle Authenticity Using Blockchain
Lamborghini, the luxury car brand often associated with cryptocurrency, will use a blockchain system to track the authenticity of the cars sold in the secondhand market. The platform will be provided by Salesforce, and it will enable new owners to check the service record of any Lambo over time. Paolo Gabrielli, Lamborghini head of after-sales, declared, “Salesforce Blockchain will allow us to take our innovation a step further, accelerating the authenticity of our heritage vehicles faster than ever.”
Iran Implementing Total Internet Shutdown Amidst Protests
Update: 90 hours after #Iran implemented a near-total internet shutdown, connectivity continues to flatline at just 5% of ordinary levels 📉
— NetBlocks.org (@netblocks) November 20, 2019
Netblocks, the internet connectivity observer, noted Iran blocked almost all internet connectivity for more than 90 hours amidst the last round of domestic protests against the government. Iranians are protesting a sudden rise in fuel prices, taking to the streets and opposing President Hassan Rouhani’s measures. The block seeks to minimize media coverage of events, and has been qualified as “the most severe disconnection tracked by NetBlocks in any country in terms of its technical complexity and breadth.”
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