Key Facts Of The Day 25.05.2018

BitTorrent to Be Acquired By TRON Founder

Justin Sun, the founder of the cryptocurrency TRON, is planning to take the BitTorrent Inc., operator of torrent client uTorrent. The company confirmed with TorrentFreak that the acquisition has not been finalized yet. Notably, BitTorrent Inc. was renamed “Rainberry” last year. Earlier this year reveals that Rainberry was sued because it allegedly violated a “No Shop” clause in an agreement with a person named Justin Sun who asked for a restraining order to prevent BitTorrent from talking to other potential buyers but Sun’s request was was dismissed in court. TRON founder registered the “Rainberry Acquisition” company in California at the end of February when the exclusivity period set in the letter of intent ended.

Maersk Starts To Use Blockchain Platform Insurwave

The global leader in container shipping, the company Maersk has officially started using the Insurwave blockchain-platform for marine insurance, Seatrade Maritime News reports. The platform was developed jointly by the consulting company EY and Guardtime. It uses distributive ledger technologies from Microsoft Azure and ACORD data standards. It is expected that in the first year of work with Insurwave, Maersk is expected to insure 1000 marine ships, with the total number of digital transactions expected exceed 500,000.

BitGo: A New Building Custodian For Digital Assets

According to the BitGo blog, its new custodian will be called BitGo Trust. “BitGo Trust is ground-breaking for our industry because it will be the first qualified custodial solution designed specifically to hold digital assets for institutional investors independent of any exchange or trading activities,” - Robin Verderosa, the Product Marketing at BitGo, said.

Singapore Has Issued a Warning to Crypto Exchanges

The Monetary Authority of Singapore (MAS) warned eight crypto exchanges about the inadmissibility of trading digital tokens with the properties of securities and futures. The Securities and Futures Act (SFA) govern the trade in digital tokens and exchanges need to seek the prior authorization of the MAS, the office stated.MAS also warned the local Initial Coin Offering (ICO) issuer to stop the offering of its digital tokens in Singapore. The office has assessed that the “tokens represented equity ownership in a company and therefore would be considered as securities under the SFA.”

Revolut Adds Ripple and Bitcoin Cash

Fintech startup Revolut added support for XRP and Bitcoin Cash to its mobile application - the currencies "were most popular among our community", the company explained in its blog. Since yesterday, Revolut users can acquire XRP and BCH in exchange for any of the 25 fiat currencies offered on the platform. Previously, the company only supported operations with Bitcoin, Litecoin and Ethereum.

Canadian Lawyer Called on Parliament to Classify Cryptocurrencies as Money

Chetan Phull, Blockchain & IT Lawyer, and the Founder of Smartblock Law Professional Corporation, said that Canadian Parliament should amend the Currency Act to formally legalize, and duly permit the enforcement of cryptocurrency contracts that treat cryptocurrency as “money” in a blogpost of the the Canadian Bar Association (CBA).

Reddit Of The Day

One of the most discussed topics of the day on Reddit was the news that the Supreme Court of Zimbabwe lifted the ban on trading bitcoin and other cryptocurrencies.

The total cryptocurrency market capitalization stands at $335 billion

Best growth among top-100 showed MyBit Token (+40,2%)

Best growth among top-10 showed Ethereum (+ 2,02%)

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached to $ 16,6 billion (-5,9 billion per day)

Mining Profitability

Ongoing ICO:

· TUTELLUS

Expected ICOs:

· 28 May LICERIO

· 1 June GrabAMeal

· 1 June SurruS

· 1 June Paygine

Click here for the full list of ongoing ICOs.

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By Ekaterina Ulyanova