European crypto ecosystem newsletter

Localbitcoin, Argo, BitPanda, Ledger, Major insurance firm Lloyds of London, Ledger, IBM’s Public Cloud, Alameda Research, Arweave

Hi Everyone, Thank you for supporting the European crypto ecosystem 🇪🇺.

Next week, we will launch a new format. Stay-tuned!

Etienne Twitter, )

ps: don’t hesitate to send me an email if you enjoy this newsletter, Always great to have feedback :) and Subscribe to

💡Thank you NovitasFTCL for supporting the 🇪🇺 Ecosystem

We want to thank our partner NovitasFTCL, a leading boutique firm of corporate finance advisors to the European Financial Technology sector. 

Based in London, NovitasFTCL has 45+ years of combined experience in the FinTech sector and executed over 120 transactions across Europe including M&As and Fundraisings. 

Do not hesitate to contact me if you want an introduction. 

🐦 Tweets of the week

The big news this week is FCA issuing a warning to BitMEX

We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers. [Source]

Great event next week in London with CryptoCompare and OKEx!

🤹 Startups News

  • The bitcoin marketplace Localbitcoins was once the most popular peer-to-peer (P2P) trading platform. But during the last few years, the company’s trading requirements and KYC implementation have caused an influx of traders to migrate to different P2P crypto markets. The mass departure has caused business on Localbitcoins to drop like a rock and volumes haven’t been this low since 2017 [Source]

  • Malta-based Trident Crypto Fund suffered a major data leak, the personal data of about 266,000 people registered with the fund was posted on a number of file-sharing websites following the breach [Source]

  • Bitcoin miner Argo increased production in February & mined 337.5 BTC with 17,000 machines, earning $3.2M [Source]

  • BitPanda CEO Eric Demuth Says Bitcoin Is Gold 2.0 for Millennial [Source]

🎁 Startups Product & Partnership

  • Major insurance firm Lloyds of London is expanding within the crypto industry. The firm now insures internet-connected hot wallets [Source]

  • Viral Tech: London Blockchain Week Spreads Into Day Two Despite Coronavirus Scare [Source]

  • Major cryptocurrency hardware wallet supplier Ledger has warned its users about another phishing attack trying to steal their crypto — this one using a Google Chrome extension [Source]

  • Organizers in Paris have rescheduled a major local blockchain industry event due to the coronavirus outbreak [Source]

🏢 Corporates

  • IBM’s Public Cloud Is Secure Enough for Crypto Custodians [Source]

  • Nike Explores Blockchain for Supply Chain Data Collection - The Chain Integration Pilot (CHIP) of the Auburn University RFID Lab in Alabama has published a proof-of-concept whitepaper that seeks to demonstrate the efficiency savings blockchain technology can unlock across the contemporary supply chain [Source]

  • A blockchain trade finance platform developed by eight major banks, among them HSBC, BNP Paribas, and Citi, is now ready for commercial launch in Singapore in Q2 2020 [Source]

🏦Regulations / Universities

  • The Commercial Court of France issued a ruling recognizing Bitcoin as currency. The court’s decision forms the first legal basis for the classification of cryptos as currency in France [Source]

  • Germany’s financial regulator shut down the local operations of a company that allows buying and selling Bitcoin at ATMs. BaFin ordered Adam Gramowski, the managing director of KKT, to cease business in Germany saying he’s unauthorized for cross-border trading. Gramowski has ATMs across Germany [Source]

  • Jon Cuncliffe, the deputy governor for financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the emergence of a cryptocurrency economy may weaken or eliminate bank credit issuance [Source]

  • The German financial watchdog is stopping the operations of a company KKT UG from Berlin that allows consumers to buy and sell cryptocurrencies at ATMs [Source]

  • The U.K.’s finance watchdog has issued a warning against BitMEX, saying that the exchange is “not authorized” to operate in the country. A BitMEX spokesperson told The Block: “We are working closely with our advisors to assess the situation.” [Source]

💰Fundings & M&A

  • Alameda Research, whose chief executive is the owner of the Binance-backed derivatives exchange FTX, has invested more than $1m into crypto quant trading firm Folkvang – one of Alameda's competitors [Source]

  • Arweave, a blockchain startup focused on the permanent storage of Internet content, has raised $8.3m in new funding  from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures [Source]

🏄 Events