Hodler's Digest, July 23-29: Winklevoss ETF Gets Second SEC Rejection, While Fortune Recognizes Crypto Trailblazers

The SEC Commissioner officially dissented to the rejection, arguing that the SEC's decision erred on three grounds: it focused on the underlying Bitcoin market, not the derivatives, it will inhibit institutionalization of the Bitcoin market, and it shows a "Skeptical view of innovation."

According to the KT Corporation, they have built a blockchain layer on top of its existing nationwide network to improve its security and transparency.

Singapore Airlines has launched its own loyalty digital wallet based on blockchain technology, co-developed by Microsoft and KPMG Digital Village.

China's Xiongan New Area government has brought blockchain software tech company ConsenSys on board to help develop blockchain tech applications in their future "Smart city," according to a recently signed Memorandum of Understanding.

ConsenSys has confirmed that they will advise the Xiongan government on blockchain and software solutions in order to establish it as a "Next generation smart city [and] leading blockchain innovation hub."

The venture capital arm of General Electric, GE Ventures, has participated in a $12 million Series A funding round for blockchain startup Xage Security.

Mike Novogratz's crypto-focused merchant bank, Galaxy Digital, has led a $52.5 million dollar funding round for the crypto lending firm BlockFI. BlockFi offers corporate and retail loans on Bitcoin and Ethereum, and hopes to expand their services to support both more cryptocurrencies and more geographic markets in the future.

The exchange notes that the suspension is temporary until "An alternative method of funding is identified and deployed." RBI's crypto dealings ban came into effect on July 5, and a hearing about its legality has been moved to September 2018.

Ohanian described Bitcoin as a "Robust" asset, noting that blockchain development has helped BTC stay up even with its volatility.

Meltem Demirors, the CSO at CoinShares and a lecturer on blockchain at Oxford, explores the possibilities of the Tezos ecosystem in an exhaustive article that includes a specialized Tezos jargon dictionary, a graphics-heavy breakdown of tezzies delegations, and speculations about the potential for "Token holder activism." Demirors notes the token holder activism can be used for both good and bad, advising her readers to "Remember that blockchains don't change human nature."