As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. 1. CRYPTO EXCHANGE HACKED: Japanese cryptocurrency exchange operator Tech Bureau Corp. said roughly $60M worth of bitcoin and other digital currencies were stolen from its platform last Friday when its Zaif cryptocurrency exchange was accessed illegally by hackers over a two-hour period, The Wall Street Journal reported Thursday. Tech Bureau, which found abnormal activity on it servers three days later on September 17 and notified Japanese authorities after uncovering the hack, said about two-thirds of the Y6.7B, or $59.7M, in stolen assets were from customer accounts and the rest belonged to the company. 2. NY AG SAYS CRYPTO EXCHANGES LACK INTEGRITY: On Tuesday, New York Attorney General Barbara Underwood announced the results of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices of platforms used by consumers to trade virtual or "crypto" currencies like bitcoin and ether. In a statement, Underwood said, "New Yorkers deserve basic transparency and accountability when they invest - whether on the New York Stock Exchange or on a cryptocurrency platform. Yet, as our report details, many virtual currency platforms lack the necessary policies and procedures to ensure the fairness, integrity, and security of their exchanges. With this report, we hope to give New Yorkers the tools they need to make educated decisions on whether to entrust their money to a cryptocurrency platform and to help protect themselves against theft, fraud, and abuse."3. BITCOIN ETFS DELAYED: The Securities and Exchange Commission is seeking additional feedback on a proposal to list an exchange-traded fund that invests in bitcoin from Van Eck Securities and SolidX Management, Bloomberg reported Thursday. The agency, which already received over 1,400 comment letters on the proposal, is looking for views on market manipulation as well as surveillance and those wishing to comment have 21 days after the SEC's order is published. 4. COINBASE NAMES CHIEF LEGAL OFFICER: Coinbase said in a Wednesday blog post that it has named Brian Brooks as its new chief legal officer. Brooks' arrival is part of the company's effort to expand its legal, compliance and government affairs capabilities as its heads "into this next chapter for the company and the cryptocurrency industry as a whole." Brooks most recently served as EVP, general counsel and corporate secretary of Fannie Mae (FNMA). 5. IDEANOMICS, AMPEN TRADE TECH ENTER JV: Ideanomics (SSC) announced that it has entered into joint venture with APMEN Trade Tech to establish an enterprise focusing on digital supply chain services using blockchain and super artificial intelligence for the Asia-Pacific Model Electronic Port Network APEC's online port clearance system. Ideanomics will have a majority interest of 60% in the joint venture. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), DPW Holdings (DPW), Kodak (KODK), Ideanomics, Riot Blockchain (RIOT), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin rose about 4.6% this week to $6,747 in U.S. dollars, according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.
