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April 22, 2020 | Issue #114

 MUST READS 

Large Hedge Fund Eyeing the Bitcoin Futures Market


Renaissance Technologies, founded by the legendary Jim Simons, has been eyeing the Bitcoin futures market, according to a regulatory form filed last month.

The fund, which is best known for pioneering quantitative-based investing and was recently in the news for gaining 24% during this tumultuous market, said in a recent filing that its Medallion Funds are now "permitted to enter into Bitcoin futures transactions."

Speaking of Bitcoin futures, CME has recently seen Bitcoin futures rise 70% as institutions return to the market.
 

Binance Launching New Ethereum-Compatible Blockchain


Just weeks after acquiring CoinMarketCap, Binance is now launching a new Ethereum Virtual Machine (EVM)-compatible blockchain dubbed Binance Smart Chain (BSC).

This means the exchange is now directly competing with smart-contract protocols (Ethereum, EOS, Tezos, etc.)... and is eyeing to ramp up the rapidly evolving dApp and DeFi sectors.

BSC's native token will be BNB, allowing holders of the token to participate in staking and earn rewards. Binance further said that the BSC will support all of the existing Ethereum tooling along with faster and cheaper transactions.

Unrelated, but this week the exchange also announced they've reached new highs with it's $52M quarterly burn.

Still too early to call CZ the Jeff Bezos of crypto...?
 

Grayscale's Q1 2020 Digital Asset Investment Report


Grayscale, one of the largest crypto asset managers has released their Q1 2020 report in which they stated they raised over $500 million, nearly double their previous high. Here's everything else you need to know...
  • 88% of inflows this quarter came from institutional investors, the overwhelming majority of which were hedge funds. (good to see that the traditional finance space still sees BTC and ETH as viable investments admist today's economic chaos 👍)
     
  • For the first time, inflows into Grayscale products over a 12-month period crossed the $1 billion threshold ($1.07 billion)
     
  • Historically, large investments into Grayscale have preceded market rallies
     
  • Grayscale now holds 1.7% of Bitcoin supply

 SPONSORED 

The Most Important Map of America You Will Ever See


There is a huge untapped energy reserve that spans the entire United States.

Experts at the U.S. Department of Energy believe this fuel could provide America with a “30,000-year energy supply.”

And there’s a relatively unknown Midwestern company with the technology that’s key to harnessing this INFINITE energy that’s buried beneath ALL 50 states. 

Check out one of the most incredible maps you will ever see...

 

 DEEP DIVE 

FTX's Newest Tokens Track Bitcoin Volatility


Crypto derivatives exchange FTX, which is backed by well-known investors including Binance and Consensus Lab, is planning to launch two ERC20 tokens – the BVOL and iBVOL – that track the volatility of BTC price. Consider this as Bitcoin's equivalent to CBOE's Volatility Index (VIX).

Today FTX also announced that they have launched crude oil futures – which, as of this week, have seen prices fall below zero for the first time in history.
 

The Largest DeFi Hack to Date...


Over the weekend, Lendf.Me, a DeFi lending protocol on the dForce network, was hacked for just shy of $25M. The hacker apparently took advantage of a well-known vulnerability in the ERC-777 standard and essentially wrecked a whole token project overnight.

But there's a strange twist in the story...

During the process, the hacker mistakenly leaked important metadata about himself – all of which of made it easy for regulators to track him down. 24 hours later, the hacker surrendered to the Singaporean police and returned 100% of the stolen funds.
 

It’s Time to Build


Finally, a corona op-ed that doesn't point fingers towards one political party or another. It's time to look in the mirror and realize there's only one way to create the future we want...

This is the time to build.
 

Facebook's Libra Pivots


Libra has been pretty quiet over the last few months but this week, all of that changed.

Co-creator and a board member of the Libra Association, David Marcus took it to Twitter to catch everyone up on Libra's progress made in the last nine months, highlighting several key changes along the way...

Most notably, the project seems to have steered away from it's mega global reserve currency ambition... and will instead focus on providing individual stablecoins for specific fiat currencies, including GBP, EUR, and USD.
 

 SPONSORED 

The Crucial Market Story You Probably Missed


Everyone's stuck on the same market story.

But there's another side of the coin that most people don't know about. While many are blinded by fear and panic, you can swoop in and pick up shares of some of the most promising up-and-coming companies for pennies compared to what it might cost you next week.

Because here's the thing... this volatile market may be temporary. If you act now, you have a chance to exploit it for a killing.

Learn the secrets right here.
 

 REGULATORY FRONT 

Ripple Sues YouTube Over Scam Videos


The CEO of Ripple (XRP), Brad Garlinghouse, filed a lawsuit on Tuesday accusing Youtube of turning a blind eye to scams that have defrauded consumers.

The complaint cites numerous instances where hackers took over the channels of legitimate creators and replaced their videos with ones advertising Ripple-related scams. The scammy Ripple videos often show media interviews with Garlinghouse lifted from reputable sources, and overlaid with invitations to participate in "giveaways" of XRP.

Ripple states that despite sending hundreds of notices to YouTube, they have responded slowly or sometimes not at all.

Garlinghouse says Ripple will use any damages or settlement money it receives from the case to reimburse victims fleeced by the YouTube scams.

 

 TWEET OF THE WEEK 

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