Cryptocurrency News for the Week of May 6-12, 2018

Here are the top cryptocurrency and blockchain stories for this week.

Facebook reportedly plans to launch its own cryptocurrency

by Chaim Gartenberg, The Verge

It’s still very early in the game, but the company is said to be looking into cryptocurrency facilitating payments on its platforms. Facebook marketplace currently handles in-person transactions better, a la Craigslist, but Messenger is seriously pushing to enable payments. As Facebook seeks to find its way into digital payments, cryptocurrency may be the answer.

Cryptocurrency has been great for GPU makers—that might change soon

by Timothy B. Lee, Ars Technica

Gaming motherboard custom Mod

Nvidia’s profit reports show two straight quarters of profits thanks almost entirely to the cryptocurrency mining frenzy. Thursday’s earnings call pegged it at $289 revenue (10 percent of the company’s total) came from cryptocurrency. GPU and graphics card prices remain high as Nvidia juggles how to appease both miners and gamers.

What Is Verge? Introduction To XVG

by Brian Penny, Crypto Briefing

What Is Verge Introduction To XVG

Pornhub’s partnership with Verge made it a media darling almost overnight. Its roots are in Dogecoin, the memecoin that spawned a copycat in Dogecoindark. Rebranded to Verge, it soon obtained key partnerships, including the largest porn network online.

Cryptocurrency Exchange Upbit Raided by Korean Authorities

by Shinhye Kang and Heejin Kim, Bloomberg

Upbit is the fourth biggest cryptocurrency exchange in the world, hosting over $1.5 billion in crypto trades every day. Now it’s under investigation by South Korean authorities looking to crack down on speculative trades. It’s unclear yet what (if anything) they’re being charged with.

Blockchain Experts Tell Congress How Crypto Tech Can Combat the Flow of Counterfeit Goods

by Tawanda Karombo, CCN

Several blockchain experts provided presentations and testimony to the Congressional hearing of the U.S. Subcommittee on Oversight and Subcommittee on Research and Technology. Supply chain and oversight are just a few issues discussed during this week on the hill.

Watch: First Teaser For ‘Beyond Bitcoin’, Blockchain Doc Bought In Seven-Figure Deal For ‘BVOD’ Platform Binge – Cannes

By Andreas Wiseman, Deadline

Hollywood is inundated with new companies looking to disrupt the entertainment industry using blockchain. The latest project is this documentary on Ryan Radloff, Perianne Boring, and Roger Ver over the course of one year attempting to redefine money and power in the digital world.

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Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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