Day: September 11, 2018

Canadian Bitcoin Fund Receives Status as Mutual Fund Trust

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Canada’s “first” and “only” regulated Bitcoin (BTC) fund First Block Capital Inc. has obtained mutual fund trust status, allowing investors to put their fund units in self-directed registered accounts, according to a press release published September 10. First Block Capital Inc. (First Block) announced that investors in its flagship product the FBC Bitcoin Trust — available for accredited investors only — can now put their holdings in such accounts as a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). Essentially this will allow accredited investors to deposit…

Crypto Not Effective for Financing Terrorist Groups

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A new report published September 7 by the U.S. Foundation for Defence of Democracies’ (FDD) Center on Sanctions and Illicit Finance (CSIF) shows that digital currencies are ill-suited for financing terrorist groups. The report was presented by CSIF director of analysis Yaya Fanusie at a hearing before the U.S. House of Representatives Subcommittee on Terrorism and Illicit Finance. During his speech, Fanusie considered several cases wherein terrorist groups used crypto to raise funds. The study mentions the “first” terrorism funding campaign — “Jahezona” conducted in 2016 in the Gaza Strip…

Former Legislator Remanded in Custody in Connection With Bitcoin Extortion Case

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Nalin Kotadiya, a Bharatiya Janata Party (BJP) official and former Member of the Legislative Assembly (MLA), has been remanded in custody for ten days in connection with a $1.3 million Bitcoin (BTC) extortion case, the Times of India reported September 10. A special anti-corruption court has reportedly remitted Kotadiya in police custody for a ten day custodial interrogation after he was arrested by the city crime branch and the Criminal Investigation Department (CID). Kotadiya was allegedly involved in a $1.3 million BTC extortion case. In April, the CID began investiging…

Gemini to issue their own Gemini Dollars Cryptocurrency with NY finance regulators approval

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Gemini Trust, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has won approval from New York finance regulators to launch Gemini Dollars, digital tokens pegged in value to the U.S. dollar and transferable on the Ethereum blockchain. The company said it planned to enable customers to swap traditional dollars on deposit in their accounts for Gemini dollars starting Monday morning. The New York Department of Financial Services also approved a similar coin called the Paxos Standard, launched by the Paxos Trust Company, another crypto firm. Paxos Standard also became available Monday.…

Bitcoin Cash Price Analysis: BCH/USD Could Recover To $500

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Key Points Bitcoin cash price is holding the $460 support very well against the US Dollar. Yesterday’s highlighted key bearish trend line is still active with resistance near $475 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could move higher in the short term towards the $495 and $500 resistance levels. Bitcoin cash price is trading above the recent low against the US Dollar. BCH/USD is likely to recover a few points towards $500 in the near term. Bitcoin Cash Price Support Yesterday, there…

Nasdaq Said to Be Building Tool to Predict Crypto Price Movements

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Nasdaq might be on the cusp of giving institutional investors an analytical edge on trading hundreds of crypto assets. According to a person familiar with the company’s plans, the U.S. stock exchange is preparing to add tools for predicting the price movements of crypto assets to its Analytics Hub. The hub, launched last year, draws machine learning and natural language processing capabilities to parse through social media and other alternative data sources to give investors a better way to assess market movement. To date, the Analytics Hub has focused on…

Research: ICOs See Lowest Funding Level in 16 Months

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Funding for Initial Coin Offerings (ICOs) has seen its hardest slump in 16 months, Bloomberg reported September 10. Analysis from Autonomous Research shows that in August, startups raised $326 million, which is the smallest amount since May 2017. According to Autonomous Research, Ethereum (ETH) blockchain-based ICOs have been recognized as the spark for the ETH price surge in 2017. However, they are currently the purported reason for the currency’s price slide, as some projects cash out to cover expenses amid concerns over a bearish market. The new analysis comes as…

ICO Cashing out FUDs Impeding ETH Recovery

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A 33 percent dip in the last week means Ethereum sellers are stepping on the gas pedal. There are many theories around this rapid decline with most associating this dump with ICOs losing their patience and cashing out. Others are pointing to the influence of Bitcoin and the correlation between the two while some are merging this with mining woes and how unprofitable it has become. Either way, ETH like the rest of the market is on a down trend and trading below $200 with sellers aiming for $150. From…

Cryptic Labs Adds Two Nobel Prize-Winning Economists to Advisory Board

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Blockchain research institute and accelerator Cryptic Labs is adding two Nobel Laureates to its team of advisors. The additions, economists Dr. Eric S. Maskin and Sir Christopher Pissarides, are professors at Harvard University and the London School of Economics, respectively. They join Cryptic Labs’ Chief Scientist Dr. Whitfield Diffie, who won the 2015 Turing Prize for his contributions to cryptography. Awarded the Nobel Prize for Economics in 2007 for his seminal work in mechanism design theory, Dr. Maskin will bring extensive knowledge of this theory to puzzle out how projects…

Ether Price Analysis: Market Indecision Could Cause Short Covering Rally

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When we last discussed the ETH-USD pair, the price was testing support in the mid $200 range. Since then, the market has dropped another 30% as ether tests the waters in the upper $190 range: Figure 1: ETH-USD, 1-Day Candles, Macro Trend The volume on the current drop has been exceptionally high compared to the beginning of its descent from the $800s. However, one thing to note is how little the last few candles have progressed compared to the large amounts of sell volume accompanying the movement — and this…