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Must-reads for October 26, 2018: Crypto’s pay-to-play, Coinbase cuts, and other stories

We Asked Crypto News Outlets If They’d Take Money to Cover a Project. More Than Half Said Yes (Breaker)
This is the little article burning up the cryptosphere today. Corin Faife of The Breaker posed as a Moscow-based public relations agency and contacted several crypto news sites, asking them if he could pay for favorable articles on their website. “Of the 22 outlets who replied conclusively, 12 of them—more than half the total—were willing to publish paid content without disclosing it as such,” Faife writes. The sites that were willing to take money were:

  • CryptoNinjas
  • Cointelligence
  • Coinsepeaker
  • CryptoPotato
  • Blokt
  • BTCManager
  • Coinidol
  • AMB Crypto
  • Globalcoinreport
  • Cryptovest
  • Bitcoinist
  • NewsBTC

Keep that in mind next time you see a headline.

 

Exclusive: Coinbase cuts staff (Yahoo Finance)
With 25 million accounts, Coinbase is one of the biggest names in retail crypto trading. Yet the company is cutting its headcount by 15 employees. “At a company with 550 employees, 15 people may not sound significant. But any cuts at Coinbase are of interest at a time when the company is widely thought to be gearing up to go public,” writes Yahoo Finance’s Dan Roberts (as an aside, CNBC’s Ran NeuNer implies it will be announced soon). Most of those who got pink slips were remote employees but what’s interesting are the departments where they worked: not just customer support, but with compliance and fraud detection.

 

Shen Guozhong Case Selection | Bitcoin Arbitration (Shenzhen International Court of Arbitration)
Why post this? Because basically a court in China said, “there is no law or regulation that explicitly prohibits parties from holding bitcoin or private transactions in bitcoin” and, while “Bitcoin is not a legal currency,” it “does not prevent it from being protected by law as a property.”

 

German Central Bank and Deutsche Boerse Successfully Complete Blockchain Settlement Trial (CoinTelegraph)
Germany’s Deutsche Boerse and the Bundesbank (a.k.a. “BuBa”, the country’s central bank) have successfully completed a trial of a blockchain settlement solution. “The main point of the joint research was to conduct on blockchain the full lifecycle of bond issuance, settlement, corporate actions, and redemption, as well as cash transfer including the provisioning of digital coins, transfer between market participants, and settlement of cash payments,” write CoinTelegraph’s Ana Berman.

 

Q3 2018 XRP Markets Report (Ripple)
Ripple more than doubled it’s third-quarter XRP sales to $163 million versus the previous quarter. Much of that was led by “institutional direct sales”.

 

Lawrence Lewitinn, CFA is editor in chief of Modern Consensus. Disclosure: Lewitinn owns no cryptocurrencies in his portfolio.

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