Day: August 28, 2018

Lloyd’s Of London to Insure Custody Platform for Digital Currency

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U.K. insurance market leader Lloyd’s of London will insure a crypto custody platform by U.S.-based custodial firm Kingdom Trust, according to a press release published August 28. Founded in 1686, Lloyd’s of London is a British insurance firm that is active in over 200 countries. The company reportedly paid claims in the amount of £68 billion ($87 billion) between 2011 and 2016. Kingdom Trust, which serves over 100,000 customers and has $12 billion in assets under custody, is the reportedly the “first” regulated financial institution to offer qualified custody for…

IOTA Releases Trinity Desktop Wallet and a Fujitsu Mention for New Protocol Standard

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IOTA, which is reputed to be the next generation distributed ledger or blockchain, received some boost over the past few days that caused a spike in the price of native token MIOTA on Monday. The price of MIOTA climbed to over $0.74 today from around $0.50 on Friday, as per data from CryptoProbe.net. Fujitsu, the Japanese information technology conglomerate, said in a report that IOTA is best suited for audit trails in industrial production environments and supply chains that involves hundreds of components and complex processes. The second boost came from the…

‘Operation Cryptosweep’ Results in 200 Crypto-Related Investigations

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The North American Securities Administrators Association (NASAA) announced today, August 28, that its ongoing initiative “Operation Cryptosweep” has resulted in over 200 investigations of Initial Coin Offerings (ICOs) and crypto-related investment products. State and provincial securities regulators in the U.S. and Canada launched probes into potentially fraudulent crypto investment programs as part of the NASAA’s “Operation Cryptosweep” in May. The initiative targeting suspicious crypto investment products is reportedly the largest such coordinated investigation by state and provincial officials. The NASAA President and Alabama Securities Commission Director Joseph P. Borg said…

Battle Lines Drawn Ahead of Scheduled Hard Fork

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Controversial and untrusted figure in the Bitcoin Cash (BCH) community Cobra Bitcoin may prove to be the saving grace for the network’s future, after a highly contentious dispute between Bitcoin ABC and nChain threatens to split BCH into competing chains ahead of a scheduled hard fork in November. Cobra, the anonymous owner of Bitcoin.org and previous critic of Bitcoin Cash, announced the Cobra Client hard fork in a Medium post and dubbed the upgrade a “safe implementation of the Bitcoin Cash protocol.” The proposed upgrade is in response to the…

Dash Price Rises 20% on Venezuelan Adoption Push

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Dash (DASH) is currently experiencing a strong price surge, rising about 20 percent in the space of 24 hours as news coming out of Venezuela indicates that it is experiencing a solid increase in adoption by users fleeing the bolivar’s six-figure inflation rate. Hyperinflation, Petro, and Dash Dash Price Chart CCN reported recently that Venezuelan president Nicholas Maduro announced the creation of the “Sovereign Bolivar,” a new currency to  replace the near-worthless bolivar, which had an inflation rate in excess of 100,000 percent. The new bolivar was then pegged to…

Officer, I'd Like To Report An ICO

Lloyd’s of London, the centuries-old insurance marketplace, is quietly providing cover against the theft of cryptocurrencies. -AND- China is encouraging its citizens to report illegal token sales. -ALSO- Crypto exchange Huobi wants to buy a public company. -DON’T MISS- CoinDesk researcher Peter Ryan joins host Nikhilesh De to discuss Bitcoin’s changing fees and what it means for the future of the cryptocurrency. Recorded August 28, 2018 in New York, NY. Thanks to our sponsors! Said Business School, University of Oxford Oxford Fintech Programme Oxford Blockchain Strategy Programme Late Confirmation is…

Does Bank of America’s Crypto Custody Show Irrelevance of Bitcoin ETF?

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This week, $312 billion Bank of America (BoA) filed a patent to offer crypto custody, targeting large-scale institutional investors and retail traders. Some experts have said that the efforts of major financial institutions to create institutional products around cryptocurrencies will bolster the adoption of crypto in US markets, which will naturally lead to other publicly tradable instruments such as Bitcoin exchange-traded funds (ETFs). Bitcoin ETFs Not Necessary? The patent of BoA, filed with the US Patent and Trademark Office, described a vault system with which institutions can safely store digital…

Does Bank of America’s Crypto Custody Show Irrelevance of Bitcoin ETF?

boss

This week, $312 billion Bank of America (BoA) filed a patent to offer crypto custody, targeting large-scale institutional investors and retail traders. Some experts have said that the efforts of major financial institutions to create institutional products around cryptocurrencies will bolster the adoption of crypto in US markets, which will naturally lead to other publicly tradable instruments such as Bitcoin exchange-traded funds (ETFs). Bitcoin ETFs Not Necessary? The patent of BoA, filed with the US Patent and Trademark Office, described a vault system with which institutions can safely store digital…

Kingdom Trust | Secures Crypto Insurance from Llyod’s of London

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Digital asset minding company Kingdom Trust, announced today that it has secured insurance coverage through Lloyd’s of London. The insurance is to protect investor assets against theft, destruction, and loss. Kingdom Trust is a qualified custodian of over 30 cryptocurrencies and holds assets valuing $12 Billion USD. Mainstream Involvement The announcement today has made investors sit up, as it is seldom that mainstream financial institutions get involved with the volatile and unregulated crypto industry; large banks rarely, if ever, handle cryptocurrency. Is Llyod’s Ahead of the Game? The fact that…

Kingdom Trust | Secures Crypto Insurance from Llyod’s of London

boss

Digital asset minding company Kingdom Trust, announced today that it has secured insurance coverage through Lloyd’s of London. The insurance is to protect investor assets against theft, destruction, and loss. Kingdom Trust is a qualified custodian of over 30 cryptocurrencies and holds assets valuing $12 Billion USD. Mainstream Involvement The announcement today has made investors sit up, as it is seldom that mainstream financial institutions have an involvement with the volatile and unregulated crypto industry; large banks rarely, if ever, handle cryptocurrency and well-renowned auditors tend to keep it ‘hush-hush’…