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24/07/2018: Biggest Stories in the Cryptosphere

by BlockEx

1. SEC Postpones Ruling On Bitcoin ETFs To September

The U.S. Securities and Exchange Commission (SEC) has decided to postpone its decision regarding the approval or not of five exchange-traded funds (ETFs) to September. The independent agency announced the decision in its Federal Register. The approval requests were filed by Direxion Investments. One is based on Bitcoin price, while the other four on its price movements. SEC justified the decision by explaining that “the Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change”.

2. Singapore Airlines Launches Digital Blockchain Wallet

Leading airline operator Singapore Airlines has launched a digital blockchain wallet called KrisPay. This will allow frequent fliers to convert air miles into digital currencies and use them in everyday spend with partner merchants. As of now, the retailers taking part in the initiative are 18 and operate in different industries. Many more will be added in the future. “KrisPay is the world’s first blockchain-based airline loyalty digital wallet”. During the launch period, discounts will also be made available. We first reported about this in February, when Singapore Airline announced its project, which came following a proof-of-concept trial conducted in collaboration with KPMG and Microsoft.

3. Bitcoin Surpasses $8,300

Bitcoin has peaked at over $8,300 (£6,313) earlier today. This has been the highest level in the past two months. Many believe that the surge was due to, at least in part, an impending approval by the US government for a cryptocurrency exchange-traded fund. The last figure comes from the Luxembourg-based Bitstamp exchange. Bitcoin was at $8,198.04, a rise of 6.33%. Even the second biggest cryptocurrency, Ethereum, rose by 4.79% to $470.66 on Bitstamp.

4. TRON’s Purchase Of BitTorrent Confirmed

For some time there have been rumours about a possible acquisition of B2B platform operator BitTorrent by TRON. Founder Justin Sun has now confirmed the news, adding that this makes TRON the largest decentralized Internet ecosystem in the world. BitTorrent is a “file sharing communications protocol based on a peer-to-peer network”. Many consider this the origin of decentralisation online. TRON explained that one of the reasons which led to the acquisition is a common desire of a decentralised WEB. TRON also hopes to integrate BitTorrent’s tech talent and experience in its company.

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