Police at TRON’s office!! +$70 Giveaway
For today news segment, I have found three very cool pieces of news to discuss with you. Let me give you a glance at what they are.
First up, as reported on Cointelegraph, Bitstamp the cryptocurrency exchange has installed the lightning network node to improve its performance. For the second piece, Fidelity International, a subsidiary of Fidelity Investments, is going to entering the crypto market and open its trading desks, which could be a major boost for bitcoin price. And finally, on Be in Crypto, police protect TRON Offices from angry citizens, while millions of dollars in TRX has apparently disappeared. Lots of conflicting information for this story which I will dive into. If you find these pieces of news interesting and want to know all about them, please make sure you stay with me right until the very end.
And guys this week, we are very happy to announce a $70 Bitcoin Giveaway. All you need to do is like, comment, and subscribe, to go into the draw to win. We will announce the winner this Saturday, by drawing out a video from this week and then drawing the winner from that video. And remember guys, all you need to do is to like, comment, and subscribe! It is super easy, and you could be our next lucky winner.
The Market Today
Now, let’s see how the crypto market is performing. Today, the top 10 tokens seem to be very bullish with 9 out of 10 cryptos in greens. At the first position, Bitcoin is increasing by nearly 7%, reaching a mark of over $12,200. Next, we have Ethereum and XRP who are increasing by more than 2% each. Tron is the only bearish token in the top 10 with a 1.18% loss. Moving onto the top 20, there is a mixture of greens and reds. While Monero, UNUS SED LEO, and Cosmos are decreasing pretty hard – all by more than 5%, while other tokens are witnessing slight gains with no more than a 2% increase.
Bitstamp sets up its own Lightning Network node
Now, let’s jump to our first news segment. Per a report on Coin telegraph, European crypto exchange Bitstamp has set up its own Lightning Network node to boost the network’s capabilities. The company tweeted on July 8. As a second layer over the blockchain network of the world’s largest crypto, Bitcoin (BTC), the Lightning Network (LN) node is designed to provide fast and zero-fee transactions by forming payment channels among its users. Specifically, the network aims to solve the scalability problem of Bitcoin by keeping most of the transactions off-chain. They said that by bringing more nodes to the Lightning network, it will keep the network active. They described the nodes as its basic building units. As more nodes generate payment channels, the total network liquidity will increase, which in turn increases the transactions capabilities on the network. By setting up an LN node, Bitstamp exchange wants to promote the expansion and development of the network, as well as encourage the crypto industry to adopt the technology. Before Bitstamp, the LN node was also adopted by many other firms. Most recently, LN services became available on a famous American crypto exchange and wallet service Coinbase through payment crypto recharge provider Bitrefill. In late May, Bitfinex crypto exchange also announced its plans to launch LN support for the USDT stablecoin operated by Tether, its sister company.
Fidelity delves into Blockchain and Trading desk
Moving on to the second news item for today. Fidelity International, a US company offering investment solutions and retirement expertise, is edging closer to entering the crypto space. According to the newspaper, the parent company is about to set up its trading desk and have it up and running, which could be a big boost for Bitcoin prices. It’s very interesting to hear that Fidelity, one of the world’s biggest fund managers, has created a fantasy crypto trading game internally for its staff at the international arm. Currently, of Fidelity International’s 8,000 employees, 1,200 are already playing this crypto game. The existence of the trading game was revealed last month by the Chief executive Anne Richards:
“We have a bitcoin trading game that we use internally, as a way of teaching people about distributed ledger technology and digital tokenisation, which ultimately will be an important part of the whole financial system going forward”.
Furthermore, a trading desk and news that the international arm is looking to either launch products or use distributed ledger technology for its back-office operations will make Fidelity a true leader in the fund management industry.
TRON offices in Beijing are being raided by the local authorities
And here we come to the third and last piece of news for the day. According to BeinCrypto, TRON offices in Beijing are currently being raided by the local authorities. Police Officers were present at the TRON offices protecting employees from the angry crowd. Yesterday, on July 8th, two videos have surfaced allegedly showing the TRON offices in Beijing being surrounded by the police. Hayden Otto, a Twitter user, posted the videos with the caption:
“Police raids at #Tron offices in Beijing? Additionally, there’s many angry people gathered there who are saying things like “Tron is a scam”.
One video shows police officers gathered in the lobby area. It’s unclear whether the held people are TRON employees or disgruntled citizens. Another video posted shows a woman frantically calling someone on the phone, reportedly yelling that “he is not letting us out.” As you can see here, the TRON logo is clearly seen on the glass door.
Now, there’s a lot of controversy and confusion around this. It looks like, according to an official company post, the police arrived to the TRON offices to protect TRON employees from people who were deceived by the \Wave Field Super Community,’ a group that uses the Chinese language version of TRON to trick and defraud investors. It was these victims that called TRON a scam. The scam also resulted in one alleged suicide from an investor in the Wave Field Super Community earlier this month. TRON noted that “the victims had been promised high rates of return on their investments in the name of TRON, BitTorrent, and uTorrent. So what is this Wave Field Super Community? It was apparently running since January 2019 and used a name that was very similar to TRON’s phrase Wave Field China. The Group pretended to be a Tron Super Representative – an important node on the TRON network. Justin Sun noted that the TRON partner office is however, still operating normally after the protest in the morning. Despite this, TRON’s price has dropped despite the rumours being debunked.
And there you have it guys! That news is an end for today video.
So what are your thoughts regarding all the news?
Are you excited to hear that Bitstamp crypto exchange has adopted Lightning Network to improve its users’ experiences?
How do you think about the new approach to Fidelity International?
Do you believe Tron prices will increase again?
Please leave a comment right below to let me know what you guys are thinking. And guys, please don’t forget to like and subscribe to go into the draw to win $70 worth of Bitcoin. It’s your girl Cindy with CryptoPig. I’ll see you guys tomorrow.
Join us at our Telegram group and follow us on Youtube and Twitter.
Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.