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Crypto Roundup: PWC Excited About Crypto While Wall Street Backs Off
Table of Contents
A roundup of interesting news items from across the crypto space.
PWC excited for crypto in 2019
PWC is the second largest professional services firm behind Deloitte. Henri Arslanian from PWC was on Bloomberg discussing PWC’s views on cryptocurrency and what’s to come.
Henri believes there is a lot to look forward to in 2019, beginning with institutional investors moving into the space in a variety of ways.
This will bring not just money, but also the experience of financial markets that the crypto industry needs to grow.
Regulatory clarity is improving greatly around the world, which provides confidence to large scale institutional investors.
Wall Street slows down
Wall Street moving into cryptocurrency has been a hot topic this year, but on December 23 Bloomberg reported that Wall Street appears to be shelving cryptocurrency plans for now.
The likes of Morgan Stanley, Goldman Sachs, Citigroup and Barclays have all exhibited interest in entering the cryptocurrency space this year. But despite claims that these large players are close to entering crypto, Bloomberg reports that market uncertainty has led to plans being put on hold.
However, a former member of Deutsche Bank AG believes that this bear market is perfect for the big financial players to build solid foundations without any fear of missing out, which would allow them to move into crypto with confidence when the time is right.
Bitcoin Private premine
A report recently surfaced claiming that 2 million Bitcoin Private coins were premined at the time of the fork, significantly increasing the supply. The total supply was supposed to be capped at 21 million units, but following this discovery it has ended up being more like 23 million.
The Bitcoin Private team released an official statement about the report confirming that the findings, blaming the issue on open source development.
A bounty was posted for an issue and the developer who fixed it left a line of code missing, which went unnoticed. This caused a vulnerability that was exploited by a malicious individual, leaving him to create 2 million Bitcoin Private tokens unbeknownst to the Bitcoin Private team.
PWC photo by Duncan Rawlinson