I wrote a new post on Medium. You can read it here: Digital Wallets are the modern brokerage accounts

Have a great Friday!

THE RUNDOWN:

Steven Cohen's venture capital firm gets into crypto with new partner: Cohen Private Ventures, which was launched by Steve Cohen’s family office in 2010, has invested Autonomous Partners, a new hedge fund that is acquiring both cryptocurrencies and equity in blockchain-related companies. Read more.

Robinhood adds Bitcoin Cash and Litecoin in push to expand crypto: Robinhood, a stock-buying app popular with young investors, announced on Thursday it has added two new cryptocurrency offerings: Bitcoin Cash and Litecoin. Currently, Robinhood is offering the cryptocurrencies in a limited number of states, including California and Texas, while it navigates licensing requirements in the rest of the country. Read more.

Police seize $1.5 million in crypto during FIFA gambling crackdown: Local police officials in China seized more than $1.5 million worth of cryptocurrencies as part of a crackdown on gambling during the 2018 FIFA World Cup. Authorities first noticed the unnamed gambling platform in May following advertisements that claimed it would "accept international recognized cryptocurrencies including bitcoin, ether and litecoin" in order to draw in users. Read more.

$10 million in Ethereum stolen over past year: Kaspersky Lab’s security experts have found that cyber criminals were able to steal more than 21,000 in Ethereum (worth around $10 million) through social engineering schemes over the past year. Cyber criminals have triggered more than a hundred thousand alarms altogether on security software in connection with cryptocurrencies since the beginning of 2018. Read more.

Lawmakers to discuss if crypto is ‘the future of money’ next week: The U.S. House of Representatives Financial Services Committee will host a hearing titled "The Future of Money: Digital Currency.” The topic of next week's hearing is more geared toward debating the utility of cryptocurrencies as a form of money. Read more.

Tether hires former bank analyst as chief compliance officer: Tether, the company behind the controversial, dollar-tied "stablecoin" known as USDT, hired a chief compliance officer from the eighth-largest bank in North America. Leonard Real is a former anti-money laundering analyst for the Bank of Montreal, where he worked for four years in three different positions. Read more.