Day: July 10, 2018

Trading Opens on Huobi’s New US-Based ‘Strategic Partner’ HBUS

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Huobi crypto exchange has opened trading on its newly created U.S.-based “strategic partner” HBUS, according to a press release shared with Cointelegraph today, July 10. Huobi’s new cryptocurrency marketplace comes via a San Francisco-based partner company called HBUS, whose creation was first announced in early June. As of 10 a.m. (Pacific Time) today, HBUS is live for trading, supporting 22 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Tether (USDT), and others. The new platform also provides traders with an overview of market data…

‘We Must Remain Vigilant’ and Stop Rogue ICOs

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The People’s Bank of China (PBoC) doubled down on its rhetoric regarding ICOs July 9, warning those who attempt to serve Chinese residents that it would “crush” their operations. In a circular and subsequent report in local media outlet Yicai, the Chinese central bank’s vice governor Pan Gongsheng strongly reiterated the ongoing ban on ICOs and the need to uphold regulatory mandates. “We must remain vigilant,” he said during a meeting of the bank’s Internet Finance Rectification Working Group on Monday. Given “the emergence of some new Internet financial products…

Another MyEtherWallet Hack | Twice in Three Months

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It’s only been four months since the last MyEtherWallet hack, but the crypto wallet platform is at the center of yet another security breach. This time, however, the breach involves the Hola VPN. As a result, if you use Hola’s Chrome extension, MyEtherWallet has warned that you should move your funds to a new account.  MyEtherWallet Hack: What We Know Yesterday, hackers compromised the Hola VPN service for roughly five hours. In that time, the crypto wallets of Google Chrome users may have been compromised. Why? Because they had the…

Crypto Markets Take Deep Plunge, Market Cap Back to Monthly Lows

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Tuesday, July 10: crypto markets have taken a deep plunge today, after a week of relatively stable growth. All but one of the top 20 cryptocurrencies by market cap are in the red, with total market capitalization going back to its monthly low levels. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,417 point at press time. The top cryptocurrency is down almost 6 percent over the past 24 hours and 2.9 percent over the past week, even after pushing close to the $7,000 price point July 8.…

We’re Moving Into Phase Two of ETH Blockchain ‘This Year’

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Ethereum’s Joseph Lubin said that with the fundamental “layer one” in the Ethereum ecosystem now established, 2018 will see “layer two” systems ramify and mature. Lubin’s comment came from his speech at the Rise conference in Hong Kong Tuesday, July 10. During a panel discussion with Village Global’s Erik Torenberg and Arbor Ventures’ Melissa Guzy, the Ethereum Foundation’s co-founder Lubin said that we are now moving into “phase two” of blockchain systems, “where we will see real scalability”: ‘We’re moving into a space where Ethereum can serve as the layer…

$22 Billion Wiped Out of Crypto Market in 24 Hours as Bitcoin Drops to $6,400

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The valuation of the crypto market has dropped by $20 billion over the past 24 hours, as bitcoin dropped to $6,400. Since early morning, the crypto market recorded a steep fall from $274 billion to $252 billion, demonstrating a 7 percent decline in value. The drop of bitcoin from $6,700 to $6,400 caused other major digital assets and small tokens to experience intensified movements on the downside. Bitcoin 5% Loss, Ether 10% Drop While bitcoin lost 5 percent of its value, the price of ether, the native cryptocurrency of the…

R3 Consortium Releases New ‘Version’ of Its Corda Platform for Businesses

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Blockchain technology company R3 announced July 10 that it had released a “version” of its Corda blockchain platform aimed specifically at businesses. R3 is a consortium of over 200 companies that research and develop blockchain applications for the industries of finance and commerce. Corda Enterprise, ostensibly “optimised to meet the demands of modern day businesses,” includes a “Blockchain Application Firewall” to allow the platform to run within corporate data centers and still communicate with Corda’s nodes. Applications available on the regular Corda are now also functional on Corda Enterprise, R3…

100 Merchants Can Now Trial Bitcoin’s Lightning Network Risk Free

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A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network. Revealed exclusively to CoinDesk, payment processing startup CoinGate is opening up a pilot program that will allow 100 merchants to trial a Lightning-enabled version of its service, one which taps into the open-source tech meant to make bitcoin transactions fast and cheap. As with CoinGate’s standard service, the company will handle the finer details of crypto-to-fiat exchange, however, the new pilot has the benefit of covering the costs should funds be lost due…

PBoC Will ‘Crush’ Foreign ICOs Targeting Chinese Investors: Official

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A vice governor of the People’s Bank of China (PBoC) has again issued strong statements against initial coin offerings (ICOs), singling out those that have moved overseas, but are still marketing to investors in China. Speaking at an internal meeting of the Internet Finance Rectification Working Group on Monday, Pan Gongsheng reiterated that ICOs, “disguised” ICOs and crypto asset trading are illegal in the country, and represent illicit forms of fundraising and securities issuance. Although China issued an outright ban on ICOs in September 2017, Pan said a lot of the…

Bitcoin Bull Bias Fades as Price Drops Below $6.5K

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Bitcoin (BTC) is on the defensive today and could suffer deeper losses in the next few days should the bulls fail to defend the key moving average (MA) support, the technical charts indicate. The leading cryptocurrency looked vulnerable to a pullback 24 hours ago, courtesy of the signs of bullish exhaustion near key resistance of $6,800. Hence, the drop to $6436 seen today is not surprising, but has certainly boosted the odds of a close (as per UTC) below the all-important 10-day moving average (MA). It is worth noting that…