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Here is ICObench Weekly Digest for the week #42.
Crypto markets are slowly turning green, with Bitcoin (BTC) showing signs of recovery as it finds its way back above the $8,200 price mark. The overall cryptocurrency market cap increased from to $222.5 billion, with Bitcoin making up 66.6% of the total.
  • The world’s largest cryptocurrency traded at an intraday low of around $7,950, before grinding its way up to its current trading price of around $8,216. BTC is reporting gains of 3.73% in the past 24 hours
  • Ether (ETH), meanwhile, is currently sitting at $174.80 per coin. The number one altcoin saw a small upward tick in sync with BTC and is showing a gain of 2.26% at the end of week 
  • XRP has been trading relatively flat for the end of the week. The third-largest coin by market capitalization is currently trading at $0.293 per coin, down 0.82% on Sunday
News headlines
  • Bank of England Governor Mark Carney defends Facebook’s Libra stablecoin
  • New York district court postpones Telegram’s TON hearing to 2020
  • Binance CEO confused by BNB price decline despite “very productive” Q3
  • Cointelegraph blocked in Russia
Laws & Compliance custody
  • Crypto-friendly browser Brave hits 8 million monthly active users
  • Bitmain launches ‘World’s Largest’ bitcoin mining facility in Texas
  • Samsung SDS partners with Tech Mahindra for a new DLT product
  • California man sues AT&T over loss of $1.8m and crypto accounts
  • NBA–China scandal crashes Nike sneaker-backed crypto token price
Crypto community’s interest
  • Russia has banned Cointelegraph. The well-known news outlet has been on a list of banned websites since 2017. According to Cointelegraph, the website's URL was included in Roskmonadzor's blacklist file mailed to ISPs yesterday
  • Alipay has released statements denouncing itself from cryptocurrency trading activities, with Binance later clarifying that it wasn’t working directly with the aforementioned payment services. Meanwhile the evolving narrative around the situation speaks to the legal status of Bitcoin and cryptocurrencies in China
  • The Bitcoin (BTC) bear trend that brought the cryptocurrency from $14,000 to $7,700 is over according to a price model anyway. At the time the model was published, analysts were calling for BTC to resume its uptrend to fresh all-time highs beyond $20,000
  • Facebook’s Libra. Facebook has suggested its Libra project could use multiple cryptocurrencies backed by different existing currencies like the dollar, rather than having one single digital token tied to a basket of currencies
  • Telegram’s grand entry into the cryptocurrency world is in limbo.  the SEC dealt Telegram a crippling blow by issuing an emergency action and restraining order. Telegram announced it would analyze its options in the aftermath of the SEC emergency action.
Citations of the week

“I’d take the U.S. dollar over any one of your shitcoins.”
— Nouriel Roubini, economist

“The price of BNB did decline. Markets often confuse people, even me sometimes.”
— Changpeng Zhao, Binance CEO
“If Visa and Mastercard want to issue cards for Libra wallet at a later stage, they can still do it without being members of the association.”
— David Marcus, head of Facebook’s Calibra wallet
And thats it, download ICObench Weekly Digest #42 2019 in PDF to read the details, and stay with us!

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