The CSBS refiled suit against the OCC; the FDIC is creating an office of innovation; Coinbase was approved to be a NY qualified custodian; Apple CEO Tim Cook decried the “data-industrial complex”; Cathay Pacific and British Airways both disclosed new data breach details; and IBM is acquiring Red Hat for a reported $33B.
Consumer groups voiced opposition to the CFPB’s proposed sandbox; North Dakota issued cease and desist orders against three firms offering ICOs; PwC and Cred are developing a new stablecoin; PayPal and Walmart announced a new partnership; Gary Cohn joined Spring Labs as an advisor; and losses related to crypto hacks in 2018 are approaching $1 billion.
A U.S. House bill proposed establishing a working group to define blockchain and recommend possible governmental use cases; TD Ameritrade and Virtu are backing regulated digital currency exchange ErisX; Circle is buying SeedInvest in a move that could bring crypto assets to equity crowdfunding; Coinbase is reportedly approaching new funding and an $8B valuation; and German challenger bank N26 launched in the U.K.
A group of U.S. Representatives requested greater clarity from the SEC on ICOs; Facebook discovered that hackers gained access to up to 50 million user accounts; Goldman Sachs launched its Marcus platform in the UK; Bitmain filed for an IPO on the Hong Kong Stock Exchange; Stripe raised $245M, at a $20B valuation; and Circle unveiled USDC, a new stablecoin to facilitate trading on crypto exchanges.