News-makers for this week include the SEC and Facebook
Here are some notable news snippets from the week ending on May 31:
Bitcoin crosses $9,000
Bitcoin hit a new 12-month high on Thursday, May 30 when it reached $9,097. It was short-lived, of course, as it quickly dropped to $8,600. Could this bearish candle lead to a rally in June?
We talk about going to Mars all the time. We have no limits to our imagination when it comes to space travel. But when it comes to the future of money, curiously many suffer from an acute failure of imagination. The Bitcoin rocket ship is fueling up, make sure to book your seat!— Cameron Winklevoss (@winklevoss) May 30, 2019
Coinbase adds EOS support for retail customers
Coinbase announced in a blog post on May 30 that it now provides EOS support at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store EOS. However, it's unavailable for United Kingdom residents and residents of the state of New York.
This announcement comes just ahead of highly anticipated announcement expected from EOS on June 1.
Our teams are assembling in #WashingtonDC from all over ahead of #B1June - want to watch the keynote from @bytemaster7 and @brendanblumer ? We’ll be sharing it online soon after at https://t.co/SWnpm2T4va pic.twitter.com/m5H55hFWmp— Block.one (@block_one_) May 30, 2019
Binance Coin (BNB) is officially 2019's most profitable cryptocurrency
On May 26, BNB established its year-to-date high when it reached $38.646. Its profits are now hovering around 550% for the year and over 100% in May alone. CCN offers an explanation of BNB's success and a short TA here.
Binance Coin (BNB) Hits All-Time High As Bitcoin SV Price Soars By 100%, Ethereum Tests a New Yearly High https://t.co/D5GvI5oJBX#trading #money #trader #cryptocurrency #crypto #invest #blockchain #stocks #finance #stockmarket #news #BNB #Ethereum #BitcoinSV #BTC #BCH pic.twitter.com/7uzNMcOen1— Berminal: Crypto News (@BerminalApp) May 30, 2019
SEC hosts inaugural FinHub Forum
The SEC created the Strategic Hub for Innovation and Financial Technology (FinHub) with the purpose of facilitating a way for innovators, developers, and entrepreneurs to have an open dialogue with U.S. regulators.
FinHUB was set up to "innovate the way we regulate" focused on "better ways to interact with industry" "want to be better regulators. want to be better at what we do."— Drew Hinkes (@propelforward) May 31, 2019
William Hinman, Director, Division of Corporation Finance stated that the SEC may issue No-Action Letters for ICOs/projects whose tokens are now compliant, even if the original sales didn't necessarily comply with securities regulations.
Speculation on Facebook's digital coin
Facebook has yet to officially announce anything, but rumors are swirling about Facebook's venture into blockchain. Internally dubbed as GlobalCoin (or "Project Libra"?!), BBC reports that the coin is planned for release in Q1 of 2020 and that Facebook will seek discounts from online retailers for customers who use GlobalCoin.
#BreakingSocial: FACEBOOK WILL LAUNCH ITS CRYPTO-CURRENCY, 'GLOBALCOIN' IN 2020— Social Chain (@TheSocialChain) May 24, 2019
Its previous attempt in crypto, Facebook Credits, was called off after just two years. Now the biggest test will be whether people will trust it enough to swap their cash for the digital coin. pic.twitter.com/Tj7yZxcVAN