SEC on "unfounded fishing expedition," Telegram lawyers tell judge...
One week in review: Dec. 30–Jan. 5 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1 Thanks, Boomer? Bitcoin-friendly generations to inherit $70 trillion | | Boomers may be a constant source of derision online, but savvy millennials might want to remain tight-lipped. New research suggests that younger, Bitcoin-aware consumers could be set to inherit almost $70 trillion in value from this older generation by 2045 — that's more than three times higher than the GDP of the U.S. As the Twitter account Crypto Balkans noted, it might be time to retire the hashtag #OKBoomer and replace it with #ThanksBoomer. | | #2 SEC on "unfounded fishing expedition," Telegram lawyers tell judge | | Telegram's lawyers haven't had a quiet start to 2020. A judge gave them less than a single business day to respond to a request from the United States Securities and Exchange Commission to hand over details of how the company spent the proceeds of its $1.7 billion initial coin offering. In reply, the lawyers called for the court to throw out the regulator's demands — insisting the "voluminous and highly sensitive bank records" have little relevance to the case in question. | | #3 Former Barclays exec to launch U.K.'s first regulated crypto bank in 2020 | | An executive who served as the head of technology at Barclays — and co-founded the British challenger bank Starling — has unveiled plans to launch a multicurrency account for fiat and crypto in the first quarter of 2020. Mark Hipperson's new venture, called Ziglu, is set to allow users to spend their funds using a Mastercard debit card — with cryptocurrencies converted instantly at the point of sale. | | #4. Prediction of the Week Bitcoin can hit $50,000 in 2020 "very easily," Nexo CEO tells Bloomberg | | The CEO of the Bitcoin lending platform Nexo.io, Antoni Trenchev, has said he believes BTC will "very easily" balloon to $50,000 over the course of this year. He described it as an "incredible asset uncorrelated to the overall market" — and even claimed the cryptocurrency's journey up to $20,000 was reminiscent of German hyperinflation after the First World War. | | #5. FUD of the Week Ledger wallet user allegedly lost $16,000 to malicious browser extension | | Now, a cautionary tale about Chrome extensions. Claims emerged this week that an unsuspecting victim lost $16,000 after installing an add-on for Ledger crypto wallets that actually contained malware. The extension, called "Ledger Secure," reportedly passes seed phrases back to the add-on's author, and is not an official product. Ledger itself appears to have confirmed this in a tweet that warned its followers about a phishing alert. | | #6. FUD of the Week Vexed tech entrepreneur turns Bitcoin hacker, steals more than 1 million euro | | A French businessman has been indicted for allegedly stealing BTC worth 1 million euro from his former colleagues in a so-called "act of revenge." The unnamed entrepreneur is accused of taking a total of 182 BTC, reportedly driven by the motive to "wash away the humiliation" of being made redundant. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms: | | | |