Bitcoin News Summary – December 31, 2018

Here’s what happened this week in Bitcoin in 99 seconds.

 

Before we begin, an important update for Electrum users. If when broadcasting a transaction, you receive an error message about a security update, disregard it, this is a phishing attack. For more info visit Electrum.org.

“Assist,” a South Korean business school based in Seoul, became the first in the world to offer a master’s degree in cryptocurrency and blockchain tech.

Crypto mining giant Bitmain will be firing around half of its staff. The company has let go the entire development team of its Bitcoin Cash client. It appears Bitmain is suffering from a funding shortfall and may be forced to liquidate its stash of BCH and other cryptos.

Japanese IT giant, GMO, announced that it will halt production of its ASIC mining devices. GMOs crypto mining operation reported a fourth quarter loss of around 38 billion Japanese Yen or nearly 1/3 of a billion US Dollars.

Rumors have been circulating that the Indian government could be poised to legalize and regulate crypto within the country. It is expected that an official committee will make its report on crypto to the government by February of 2019.

Finally, Craig Wright, the chief scientist behind the Bitcoin Cash fork, Bitcoin SV, was denied his motion to dismiss a lawsuit against him. The case against Wright was brought about by the brother of Wright’s deceased partner, Dave Kleiman, who accuses Wright of stealing Dave’s bitcoins.

That’s what happened this week in Bitcoin. See you next week.

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