Royal Wedding Initial Coin Offering Announced as "Decentralised Wedding Gift"
A little regression overnight with Bitcoin back down to just over the $7k mark and Ethereum also retracing down a touch to around $385. Overall a fairly stable market in the last 24 hours.
Good news for crypto miners and a further blow to chipmakers Nvidia with Bitmain announcing the release of a new high spec mining rig the Antminer E3. Reportedly the world's most powerful and efficient EtHash ASIC miner will begin shipping in July. Subsequently analyst ratings for Nvidia and now AMD have been downgraded further amid fears Bitmain impending dominance in the crypto mining market place.
Australia has published regulatory guidance for cryptocurrency exchanges based in the country stating clear guidelines of compliance under its AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing) rules. Additional requirements for exchanges require identification and verification of all clients, mandatory record keeping for 7 years and the reporting of “suspicious transactions” over $10k. Existing exchanges currently have until the 14th of May to register.
The upcoming Royal wedding of Prince Harry to Meghan Markle really isn’t something I expected to be writing about in connection with cryptocurrencies. Today however marks the launch of a new cryptocurrency called the Crown Royale (Royl) - created to commemorate the event. Half of the funding raised will distributed to 3 charities nominated by the couple, the other half to the “masterminds” behind the offering – Crown and Country Magazine to fund a “special edition” of the publication marking the event.
Chief editor at the publication Thomas Mace-Archer-Mills said in a statement "I wanted to create a new and modern way for the people of the world to feel a part of the Royal Wedding, whilst being able to provide an engaging outlet for interested parties to not only contribute to a decentralised wedding gift, but also appeal to their financial prowess in the creation of an investment mechanism such as the Royl coin.” Strange and unusual ICO announcements or endorsements are nothing new – but every once in a while one will show up that really just questions what people think blockchain technology is or does. After the growing number of celebrity related ICOs coming under fire of late, one wonders if this particular offering will live on “happily ever after” once the event has passed.
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Created: Wednesday, April 4, 2018
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