Blockchains and Bagels Daily Market Roundup – 06.06.2018

Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Bitfinex halted trading yesterday amid DDoS attack. The IMF releases June commentary highlighting impacts of digital assets.

Bitfinex suspended trading after experiencing DDoS attack

Th digital asset exchange halted its services yesterday after the platform experienced suffered issues with an infrastructure provider. Upon relaunching regular services the exchange was then targeted by a DDoS attack. The platform was able to resolve both issues and continue with normal operations by midday.

The IMF releases paper outlining digital asset impacts on monetary policy

The International Monetary Fund has published an article highlighting the competitive pressures digital assets may have on fiat currencies. They describe three factors central bankers and governments should keep in mind when making policy decisions. The IMF believes that fiat currencies should act as more stable units of account and the preferred settlement vehicle while governments should work closely when drafting regulations to prevent regulatory arbitrage.

Japan’s FSA may reject its first digital asset exchange

The Financial Services Agency may reject the FSHO’s exchange application. The FSA has set guidelines for operations and is in the process of reviewing applications. Recently, eight exchanges have indicated the intent to withdraw their applications.

Block.one pays bounties to white hat hackers for discovering vulnerabilities

Block.one has paid an upwards of US$ 120,000 to Guido Vranken for discovering bugs in the EOS codebase. Qihoo 360 had also report key high-risk vulnerabilities to the foundation. Bug bounty programs are commonplace with large software companies as a means of crowdsourcing security.

Around the network

• Insurers hope blockchain will fill their sails
• Smart Contracts: Where Blockchain Technology is Overthrowing Middlemen
• An old Alcoa plant in Upstate New York is going to be converted into one of the world’s largest bitcoin mining centers

Through the headlines

• Tariff increases could bring us back to 2008 crisis levels, World Bank warns
• Euro boosted but bonds and stocks cautious after hawkish ECB comments
• Weekly mortgage applications rise 4.1% as rates hit lowest levels in 6 weeks
• ‘Pragmatic’ Beijing is what’s stopping US and China from a ‘blow up,’ former central banker says

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