1. Ripple Considers Going Public
The CEO of Ripple, Brad Granlinghouse announced at the World Economic Forum Summit that Ripple was contemplating an Initial Public Offering. Although this might be very difficult, it is however not impossible. There are rigorous regulatory standards that have to be met and the failure to meet these standards might lead to being blocked out of the lucrative market or even forced to shut down operations.
Bitmain, a titan in the crypto industry has attempted to go public several times but failed. However, the underdog crypto company (when compared to Bitmain), Silvergate bank was able to go public on the 7th of November 2019. It launched on the New York Stock Exchange.
With all these titans leading the movement, Ripple is definitely not far behind.
Evaluation: Good
Source: Cointelegraph
2. The United States Government to Auction about $37 million worth of Bitcoin on the 18th of February
Law Enforcement Officials of the United States will be auctioning over 4,000 BTC on the 18th of February. To participate in this auction, bidders have to deposit $200,000 for registration by the 12th of February. The majority of these coins were seized from the dark web Silk road, the most recent one happened towards the end of 2018.
Four blocks of Bitcoin will be auctioned during this event -2500 BTC, 1000 BTC, 500 BTC, and 40.54069820 BTC. All eligible bidders will be notified by email before 5 PM on the 13th of February 2020.
Evaluation: Good
Source: Theblockcrypto
3. Justin Sun, Founder of TRON dines with Warren Buffet
Last year, Justin Sun won a lunch meeting with Warren Buffet when he donated $4.57 million to a charity supported by Warren Buffet. At that time, he was unable to attend the launch meeting due to health issues. On the 23rd of January, the postponed lunch turned into a dinner when Justin and some other crypto advocates dined with Warren for over 3 hours at the Happy Hollow Club in Omaha, Nebraska.
Sun presented Buffet with loads of gifts. One notable gift is a Samsung crypto phone filled with 1 BTC and several TRX to tally with Buffet’s birth date.
Evaluation: Good
Source: Bloomberg
As the world continues to accept cryptocurrencies and the Blockchain technology, more nations are beginning to recognize crypto on legal grounds. On the 28th of January, the government of Singapore created a framework to regulate all activities related to payment in the country.
As a result of this bill, cryptocurrency businesses in the country cannot operate without getting a license. Although the licensing process will not be easy, companies willing to go through this process positions themselves for long term success by making sure they can meet regulatory opportunities.
Several crypto companies such as Luno and Liquid, based outside Singapore have shown interest in the license application.
Evaluation: Good
Source: Cointelegraph
5. Cryptocurrency Exchange, Bakkt Acquires Digital Service Company
Through Intercontinental Exchange Inc, the parent company, Bakkt has acquired a Bridge2 Solutions. This digital company offers services like event tickets, loyalty programs, etc. They work with some of the largest companies in the world such as BP, Target, Amazon, and many more.
The move by Bakkt obviously shows that the 2-year-old company is planning on broadening its range of services beyond what it does now. Right now, Bakkt only focuses on high-value investors with large purchase limits.
Bakkt is also currently creating a consumer application and also planning on moving into other cryptocurrency asides from Bitcoin.
Evaluation: Good
Source: Bitcoinist
