TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Grayscale presents Drop Gold second commercial. Trump administration claim to have popped 2017 Bitcoin bubble. Honest.cash rebrands to Hymm and will issue its own SLP token. SIM swap $24 million victim issues open letter to FCC, and a LongHash Venezuelan journalist uses bitcoin to pay for his son’s birth.
Grayscale Presents Drop Gold Campaign’s Second Commercial
ANNOUNCEMENT: Our second commercial goes live TODAY as we double down on #DropGold with our next chapter of educating investors about the investment-case for #Bitcoin and $BTC access products like $GBTC: https://t.co/k4v29jjob9
— Grayscale (@GrayscaleInvest) October 23, 2019
Grayscale, a cryptocurrency investment company, announced the second commercial for their “Drop Gold” campaign in an attempt to sway institutional investors to put money behind digital assets. The campaign tries to expose the benefits of cryptocurrencies in regards to handling and custody, comparing them to gold. The commercial directly mentions GBTC, the Grayscale Bitcoin Trust, as a direct replacement for gold. But the campaign was not launched on the best day for BTC, which lost almost 7% in a few moments.
Trump Admin Worked to Pop the 2017 Bitcoin Bubble
The Trump administration worked in a coordinated fashion to pop the 2017 Bitcoin bubble, according to former CFTC chairman Christopher Giancarlo. Giancarlo declared while giving a speech on the Pantera Summit in San Francisco how the agency “saw a bubble building and we thought the best way to address it was to allow the market to interact with it.” This caused the introduction of Bitcoin futures to the CME and CBOE to give pessimists a voice in shorting the market, and according to Giancarlo, the plan worked flawlessly.
Honest Cash Rebrands to Hymm, Will Issue SLP Token
Honest.cash, the blogging and monetizing Bitcoin Cash-based platform, is rebranding its service to Hymm, and announced they will issue their own token built on top of Bitcoin Cash, using SLP. The announcement was made from a post on their own platform. The token’s name is HYMM, and will be integral toward publishing on the service in the future. More details will be available on their new web page, which is set to launch on November 15th.
SIM Swap Victim Issues Open Letter to the FCC
Michael Terpin, a cryptocurrency investor who suffered a $24 million SIM swap attack, issued an open letter to the FCC, urging for effective rules to prevent such thievery from happening in the future. Terpin asked for opt-in high-security plans to be issued by all carriers with a no port option so the SIM card cannot be changed without going through an anti-fraud review. SIM swapping is becoming more common with even Jack Dorsey, Twitter CEO, suffering a SIM swap attack this year that delivered control of his Twitter account to the attackers.
Bitcoin Baby Born in Venezuela
Jose Peña, a LongHash Venezuelan journalist, told the story of how he used his savings in cryptocurrency to pay for the birth of his son. The tale of how he exchanged his savings in bitcoin for bolivares, the country’s fiat currency, to pay for the medical procedure is nothing short of astounding. “I often see people on social media saying that Bitcoin has no real use … But countries like Venezuela, where the economy is dysfunctional, showcase Bitcoin’s greatest potential,” he concluded.
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