Weekly Crypto Overview — Khilone #29
Tags: Cryptoweekly, Crypto, Bitcoin, Cryptocurrency, Cryptocurrency News

Hey everyone,

In my Weekly Crypto Overview, I will assemble the important news of the last week and make a summary of it. This way you will have one place to go for all the significant events that happened the week before in crypto. I hope you enjoy it and that it saves you a lot of time searching for all the news. I know not everyone has the privilege to be full-time in crypto, so I hope this is a solution for many of you.

Fidelity Launching Within a Few Weeks

Binance Hack Of $ 40 Million In Bitcoin

Binance To Resume Deposits and Withdrawals On Tuesday

Bitfinex Releases Official White Paper For $1 Billion Offering

Bitfinex Raises $ 1 Billion In Private Sale

Abra Adds In-App Support For Thousands of US Banks

Fidelity Launching Within a Few Weeks

A Bloomberg report on Monday, citing “a person familiar with the matter,” said that Fidelity will roll out the service for trading bitcoin “within a few weeks” and will focus on institutional, not retail, customers.

Fidelity spokeswoman Arlene Roberts told Bloomberg:

We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.

You can read Coindesk’s full article here.

Binance Hack Of $ 40 Million In Bitcoin

Last week Binance announced a large scale security breach.

We have discovered a large scale security breach today, May 7, 2019 at 17:15:24 (UTC). Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet. The hackers were able to withdraw 7000 BTC in this one transaction: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.

You can read Binance’s full announcement here. Be sure to update your API keys and 2FA codes!

Binance To Resume Deposits and Withdrawals On Tuesday

After the recent hack Binance shared that they will fully resume deposits and withdrawals on Tuesday (tomorrow).

We aim to fully resume deposits and withdrawals on Tuesday. The time will be communicated at a later stage, depending on how the testing goes. This upgrade will require a trading halt. We will update you again tomorrow.

Bitfinex Releases Official White Paper For $1 Billion Offering

Last week Bitfinex published the whitepaper for the ‘Initial Exchange Offering of LEO Tokens’. You can read the whitepaper here.

Bitfinex Raises $ 1 Billion In Private Sale

The whitepaper of Bitfinex their Initial Exchange Offering of LEO Tokens was just published and a few days later Bitfinex already raised the $ 1 billion they need. The CTO of Bitfinex tweeted the following about it:

Abra Adds In-App Support For Thousands of US Banks

Cryptocurrency wallet and investment app Abra now allows users to connect accounts from “thousands” of U.S. banks, the firm announced Thursday. Bill Barhydt, CEO of Abra, said:

The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat.

You can read Coindesk’s full article here and Abra’s announcement here'd.

That’s it for now. All the best to everyone!

Khilone