🗞 Daily Crypto News, April, 22nd

‘Long Bitcoin’ It Ain’t: Crypto Traders Make Sense of Renaissance Filing ;
Analyst Predicts Ethereum 2.0 Staking Will Trigger a Bull Run ;
Ripple Files Lawsuit Against YouTube: "Enough Is Enough";
Dutch Central Bank Wants to Be European Union’s CBDC Proving Ground ;
Central Bank of Argentina Tests Blockchain-powered System + More News;
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🗞 Daily Crypto Calendar, April, 22nd 💰
Bitcoin Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 ‘Long Bitcoin’ It Ain’t: Crypto Traders Make Sense of Renaissance Filing

Bitcoin, the asset class, received some heavyweight hedge fund validation last week when a regulatory filing revealed New York-based Renaissance Technologies is considering including cash-settled bitcoin futures among the instruments it trades.

Renaissance, arguably the world’s most secretive and successful money manager, did not respond to requests for comment.

Still, it’s interesting to hear how trading experts think a firm like Renaissance might approach bitcoin as an underlying asset, given the hedge fund’s reputation for using mind-bending math to identify patterns and anomalies across a universe of assets.

Prize-winning mathematician James Simons began Renaissance Technologies (originally called Monemetrics) in a Long Island strip mall in 1978. Renaissance is now famous for pioneering data science and machine learning before these disciplines went mainstream, and has been described as having the best physics and mathematics department in the world.

🗞 Analyst Predicts Ethereum 2.0 Staking Will Trigger a Bull Run

With the first phase of Ethereum 2.0 due to launch within months, some analysts and experts believe it could trigger a major bull run and transform finance as we know it.

Adam Cochran, a partner at MetaCartel Ventures DAO and strategy developer at DuckDuckGo, has laid out several arguments for why ETH 2.0 “could prove to be the largest economic shift in society” in a blog post.

While that may wishful thinking, he’s on firmer ground when he suggests that staking could drive an Ether supply shock. Cochran believes that dependable staking rewards of 3-5 percent will attract capital from large investors until around 30% of the total supply is locked up. ETH’s forthcoming burn mechanism will contribute to the diminishing supply on markets.

Whales appear to be accumulating

Whales appear to agree that ETH 2.0 could comprise a major bull catalyst, with trade volumes surging to record levels on several occasions over the past 12 months. The price is currently up 25% on 30 days ago, though it remains about $100 below its year-to-date high.

🗞 Ripple Files Lawsuit Against YouTube: "Enough Is Enough"

Ripple Labs filed a lawsuit against Youtube LLC in the Northern District of California on Tuesday April 21. The case seeks damages for Youtube’s failure to stop XRP (XRP) scammers and impersonators.

The plaintiffs, named as Ripple Labs and its CEO Brad Garlinghouse, are taking action against Youtube to “prompt an industry wide-behavior change and set the expectation of accountability,” according to an official company blog post.

Ripple and Garlinghouse say the scam - often referred to as “The XRP Giveaway” — has already defrauded victims of “millions of XRP valued at hundreds of thousands of dollars”.

The lawsuit lodges complaints against Youtube for: (1) Violations of the Lanham Act for Trademark Infringement; (2) Violations of California’s Statutory and Common Law Right of Publicity, and (3) Violations of California’s Unfair Competition Law.

The scam relies on spear-phishing attacks against legitimate Youtube channels, according to the filing. Using a malicious email, the attackers commandeer the Youtube channels of content creators - often those with legitimate ties to Ripple.

🗞 Dutch Central Bank Wants to Be European Union’s CBDC Proving Ground

The Dutch Central Bank (DNB) thinks the eurosystem’s central bank digital currency (CBDC) should be more programmable than bitcoin.

Saying on Tuesday that cryptocurrencies offer some technological lessons for the banks they seek to displace, DNB wrote that smart contracts could help “future proof” CBDCs. The 45-page CBDC report is the Netherlands' pitch to become a digital currency proving ground for the eurosystem.

“A smart contract system with complex logic potentially increases the demand for CBDC and offers opportunities to reduce transaction costs,” DNB said. “In this way it could contribute to diversity and innovation in the payment market.”

🗞 Central Bank of Argentina Tests Blockchain-powered System + More News

The Central Bank of Argentina has started promoting a proof of concept based on blockchain. According to the emailed press release, this is a decentralized system solution powered by RSK smart contract technology that would allow for end-to-end traceability of account debit claims. This system, launched within the framework of the 2019 Financial Innovation Roundtable of the Central Bank of Argentina, in partnership with The Blockchain Group, is now being tested by participating banks to determine their ability to solve process integration problems between banks and system actors, after which it will be decided whether other Banks will participate and whether other potential network uses will be defined.

Hope Bridge, one of South Korea’s biggest charities, has announced that it will launch a blockchain-powered donations platform, reports Newsis. Hope Bridge says it intends to launch a dapp (decentralized app) for donors that will help it “increase the transparency of donations” by integrating blockchain technology into existing donation processes. The charity states that its new platform will also allow peer-to-peer (P2P) donations, helping speed up the rate at which beneficiaries received donors’ funds.

Decentralized storage network Filecoin delayed its mainnet launch to the July-August window. They say in an update that the first round of its internal protocol security audit is completed, and that the results have shown a need for several changes to be made before moving to the second phase of its testnet. Therefore, the Testnet Phase 2 launch is estimated for the week of May 11, while the mainnet launch window is estimated from July 20 to August 21, they write.

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