Day: September 11, 2018

Stablecoins Won’t Fix Bitcoin’s Instability: Berkeley Prof.

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Prof. Barry Eichengreen, an economics professor at UC Berkeley, in an op-ed published in The Guardian, said he believes stablecoins such as tether (USDT) might be stable in value and attractive as units of account, but they are flawed. His piece comes on the heels of the launch of the Gemini dollar (GUSD) by the Winklevoss twins. Stablecoins Aren’t a Cure-All for Crypto Instability For some, holding a stablecoin is the perfect investment as it creates a bridge between digital money and fiat currencies such as the U.S dollar. For…

A New Precedent: FINRA Charges Crypto Founder With Securities Fraud

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The Financial Industry Regulatory Authority (FINRA), a non-profit watchdog for public brokerage firms in the U.S., has had its first run-in with the cryptocurrency industry. The self-regulatory organization is filing a complaint against a Massachusetts man for “the unlawful distribution of an unregistered cryptocurrency security called HempCoin.” Timothy Tilton Ayre, FINRA alleges, illegally associated sales in his publicly traded company, Rocky Mountain Ayre Inc. (RMTN), with the marijuana industry token. Allegedly purchasing the rights to HempCoin in June of 2015, Ayre rebranded the coin as an RMNT-backed security, FINRA’s complaint…

Ripple and R3 Reach Settlement in Year-Long Court Case

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A year-old legal battle between two of the crypto industry’s leading organizations is coming to a close. After a volley of countersuits that had the companies jumping from courthouse to courthouse, Ripple and R3 have brokered a settlement that will put the drama to rest. The terms of the settlement, however, are being kept under wraps by both parties. In correspondence with Bitcoin Magazine, a representative for Ripple stated that the company has “nothing to share beyond the statement issued yesterday.” The legal proceedings date back to July of 2017…

Crypto Exchanges Resort to Unorthodox Methods Amid Bear Market

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A side effect of plummeting cryptocurrency prices is that crypto exchanges such as Binance, Bitfinex, OKEx, and many others are seeing trading volumes drop considerably, and with it, the revenue these companies derive from the trading fees associated with each transaction an investor makes. In an effort to continue to drive strong revenue numbers and maintain market share gained during the 2017 cryptocurrency market bull run, many exchanges have turned to unorthodox business practices in order to gain a competitive edge, lure in more customers, and profit off new coins…

Tezos Price Nears 12% Spike on a Bearish Day for Crypto Markets

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Tezos on Tuesday appreciated 12 percent against the US Dollar, recovering from the long bearish correction from September 10. XTZ/USD opened today while trading at 1.270-fiat on Gate.io exchange. The pair continued its corrective phase in the early Asian trading hours and formed lower lows towards 1.256. As the session matured, bulls and bears were already fighting for the trend crown, giving us volatile price action between the range defined by 1.315-fiat to the upside and 1.255-fiat to the downside. It was at the beginning of the European session bulls…

Russian Central Bank Reportedly Conducted ‘Successful’ ICO Trial

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An official from Russia’s central bank has revealed that the bank has recently conducted a “successful” experimental Initial Coin Offering (ICO), as cited by local news agency TASS Tuesday, September 11. Ivan Semagin, deputy director of the Financial Market Development Department for the Bank of Russia, told TASS: “Within a framework of the central bank’s sandbox, we conducted an experimental ICO on the basis of our existing infrastructure. Technically it was a success, but we still have a lot of legal issues”. TASS writes that Sberbank and the National Settlement…

From Mining Companies to Exchanges

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Last week, at least two crypto-related enterprises, a Silicon Valley stock and cryptocurrency trading platform Robinhood and Singapore-based crypto exchange Huobi, moved closer to going public by holding an initial public offering (IPO). The ‘old school’ way to collect investments might seem especially attractive in the context of mass adoption trends and a declining ICO market, which now sees its hardest slump in 16 months. But what is an IPO exactly, and which crypto-related companies have chosen to go public? What’s an IPO? For those who know what an Initial…

DevCon 4 Will the Stage for Ethereum’s Next Milestone: Constantinople

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Ethereum is embracing the Constantinople milestone at the end of November 2018, after DevCon4 in Prague. Constantinople is the latest Ethereum release, introduced through a hard fork, that will include five Ethereum Improvement Proposals (EIPs): Bitwise shifting instructions (EIP 145) in the Ethereum Virtual Machine (EVM) allow for direct manipulation of bytes on the EVM layer. Skinny CREATE2 (EIP 1014) adds a new opcode that creates a contract but determines the deployed address differently to the existing CREATE opcode. The EXTCODEHASH opcode (EIP 1052) adds an opcode which returns the…

Altcoins Keep Dropping While Bitcoin Breaks Another Record of Market Dominance in 2018

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Tuesday, September 11: crypto markets have seen another decline today, with most of the top 20 coins by market cap in the red, according to data from CoinMarketCap. The majority of altcoins are recording losses, reaching around 5-6 percent among those top 20 currencies. Market visualization from Coin360 Bitcoin (BTC) is slightly down today and currently trading at $6,238, which is around a 0.3 percent loss over the past 24 hours. Weekly Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is also seeing significant losses today, with its…

Crypto Daily News | OKEx Founder Arrested; Man Loses Savings on BTC

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In today’s edition of Crypto Daily News, we’ll cover the details of OKEx’s founder being arrested by Shanghai police and the story on the man losing his life savings after Bitcoin (BTC) crashed. Crypto Daily News: September 11th, 2018 OKEx Founder Arrested The top crypto news today revolves around the latest reports of OKEx’s founder, Star Xu, being arrested for fraud by Shanghai police. Sina News: Star Xu, founder of OKCoin/OKEX, is being investigated by Shanghai police. According to Lu Jun, officer at the local PD, Xu was suspected of…