TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. US congressman alleges Bitcoin can’t be killed. Dr. Doom, Nouriel Roubini, continues his attacks against BitMEX. Facebook Coin has not contacted Swiss data protection agency. Grayscale reports ATH asset-under-management number. SPICE Token gets its own Telegram group, and now even Germany has questions about Libra.
Bitcoin Can’t Be Killed
“Bitcoin can’t be killed,” declared Congressman Patrick McHenry. The US government has no capacity to effectively destroy the idea, he told CNBC. McHenry is a member of the Financial Services Committee and believes its decentralized distributed ledger makes it invulnerable compared with centralized tokens such as Facebook Coin, Libra. He stressed how “even the Chinese with their Firewall and their extreme intervention on their society cannot kill Bitcoin.”
Nouriel Roubini Continues Attacks on BitMEX
Nouriel Roubini, also known as Dr. Doom, an economist openly critical of crypto, declares in his new column that BitMEX, an important cryptocurrency exchange, “may be openly involved in systematic illegality.” Roubini criticizes the amount of leverage that crypto investors can get (100 to one), stating that a minimal change in the prices of assets can wipe out an investment. He also alleges BitMEX is “used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere.”
Facebook Coin Has Not Contacted Swiss Data Overseer
Libra congressional hearings have generated much buzz about what the US government wants and how Facebook will provide, among other things, data protection and privacy for its users. David Marcus, the head Facebook Coin, said a Swiss agency would be in charge of overseeing data. However, spokespersons for the mentioned agency, the Swiss Federal Data Protection and Information Commissioner (FDPIC), have not been contacted by Facebook. Hugo Wyler, chief of the agency, declared they “have not been contacted by the promoters of Libra.”
German Finance Minister Blasts Libra
The German Finance Minister Olaf Scholz offered his take regarding Libra, Facebook’s already famous cryptocurrency that hasn’t yet launched. Scholz said regulators should ensure this project won’t jeopardize the financial stability of the region. “The issuance of a currency does not belong in the hands of a private company because this is a core element of state sovereignty,” he stated, reaffirming the euro will remain as the only legal means of payment in Germany.
Grayscale Reports $2.7 Billion In Assets Under Management
Grayscale, one of the most important cryptocurrency investment funds, reported they now have a record $2.7 billion in assets under management between their diversified and single-asset cryptocurrency trusts. This marks a gain of almost triple of what the company reported just last quarter. Investment was carried out primarily by institutional actors converting tokens already owned into shares.
SPICE Token Gets Its Own Telegram Group
— Spice Developers (@spicedevs) July 18, 2019
SPICE Token, the SLP Bitcoin Cash-based appreciation token, keeps innovating and making their token easier to get across the internet, inviting new developers to integrate its bot into more groups to ramp up SPICE distribution. The SPICE team is now offering tokens to every group admin out there to start distributing it within their own groups. The dev team has also unveiled a new faucet available that will allow users to get a random amount of SPICE every 24 hours.
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