Day: October 8, 2018

World’s Largest Crypto Exchange Binance Announces All Listing Fees Will Be Donated to Charity

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The CEO of world’s largest cryptocurrency exchange Binance said he “hoped others would follow” his decision to donate all listing fees to charity after a sudden announcement Monday, October 8. According to the announcement, beginning “immediately” meanwhile, Binance will not only donate all such fees to charitable causes for the “greater good,” but also allow developers themselves to name the amount they pay, without demanding a minimum fee. “Binance will continue to use the same high standard for the listing review process,” the announcement continues. “A large donation does not…

Crypto Bear Market Makes it Safe For Institutional Investors to Enter

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Institutional investors are pouring in big bags of their money into the crypto world. And, a prominent investor believes it is the rightest time to do so. Garry Tan, co-founder of Initialized Capital, thinks crypto market’s bearish bias this year has reduced investment risks for new entrants, especially institutional investors. The 37-year old entrepreneur, who has invested in crypto startups like Coinbase in the past, said the money these institutions are injecting in cryptocurrency economy is as much same as an endowment might put into a core venture capital investment.…

Crypto Exchange Bitfinex Denies Rumors of ‘Insolvency’ and ‘Banking Issues’

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Major crypto exchange Bitfinex has responded to a recent swathe of online rumors, denying that the firm is “insolvent” or facing banking issues, in an official blog post published October 7. Bitfinex’s rebuttal comes in the wake of last week’s reports that the exchange’s banking partner, Puerto Rico’s Noble Bank International, is seeking a buyer and had lost both Bitfinex and affiliated firm Tether — who share a CEO, Jan Ludovicus van der Velde — as clients. In addition to Noble’s apparent woes, online bloggers were claiming that Bitfinex itself…

Binance to Disclose Crypto Listing Fees, Donate 100% to Charity

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Binance, currently the world’s largest cryptocurrency exchange by trading volume, has announced that it will now disclose all cryptocurrency listing fees and donate the funds to charity. According to a company blog post published Monday, token projects seeking to be listed on the exchange will continue to be allowed to propose their own listing fees. The exchange will neither dictate such fees nor impose a minimum pricing level, the post indicates. Notably, Binance said it will donate 100 percent of listing fees to its recently launched charity division, the Blockchain Charity Foundation.…

China to Drafts for Three Domestic Blockchain Standards in 2018

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The China Electronics Standardization Institute (CESI), a government organization under the country’s Ministry of Industry and Information Technology (MIIT), plans to release three blockchain standards for smart contracts, privacy and deposits as a way to improve the country’s development of the blockchain industry. The standards, which would be association based, were announced by Li Ming, a director of the research lab, during a recent presentation to Deep Tech, a Chinese media outlet, according to China Money Network. The standards, which include basic standards, information security standards, process and method standards,…

Crypto Exchange Bitfinex Denies Accusations of Insolvency

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Hong Kong-based crypto exchange Bitfinex has hit back against claims it is insolvent and disclosed wallet addresses appearing to show it holds over $1.5 billion in crypto assets. The company, which shares management with Tether, the venture behind the U.S dollar-pegged crypto USDT, stated in a blog post on Sunday that it is not insolvent, and “a constant stream of Medium articles claiming otherwise is not going to change this.” Bitfinex called out such allegations as “a targeted campaign based on nothing but fiction.” The firm further revealed cold wallet…

Bitcoin Price Watch: BTC/USD Holding Key Supports Above $6,350

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Key Points Bitcoin price is trading above the $6,400 and $6,450 support levels against the US Dollar. There is a significant contracting triangle in place with support at $6,460 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could make the next move either above $6,640 or below $6,460 in the near term. Bitcoin price is trading nicely above the $6,350 pivot level against the US Dollar. BTC/USD is likely to make an attempt to surpass the $6,640 resistance. Bitcoin Price Analysis There was a…

Messaging Giant Kakao Corp Releases Blockchain Platform Testnet Ahead Of Q1 2019 Launch

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South Korea mobile messaging giant Kakao Corp. unveiled the testnet version of its new blockchain platform Monday, October 8, ahead of a formal launch in Q1 2019, local media outlet Korea Herald reports. The platform, dubbed Klaytn, is the brainchild of Kakao subsidiary Ground X. Focused on decentralized apps (‘DApps’), developers are currently working with around ten domestic and international partners to experiment with the new ecosystem. A meetup to introduce Klaytn will further run during the San Francisco Blockchain Week October 10, the Korea Herland reports. “The popularization of…

Cardano Price Analysis: ADA/USD Showing Positive Signs Above $0.080

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Key Highlights ADA price is trading with a bullish angle above the $0.0800 support against the US Dollar (tethered). There was a break above a major bearish trend line with resistance at $0.0820 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to continue higher towards the $0.0880 and $0.0900 levels in the near term. Cardano price is slowly moving higher against the US Dollar and Bitcoin. ADA/USD could continue to trade higher and dips remain supported near $0.0820. Cardano Price Analysis There…

Blockchain as a Service Market to Reach $7 Billion

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A recent analysis by Bank of America’s Kash Rangan suggests that blockchain adoption will become a multi-billion dollar business. Tech giant Microsoft already offers BaaS (Blockchain as a service) tools and services through Microsoft Azure which launched in 2015. Microsoft’s Azure includes a ‘sandbox’ where developers can test their apps before launch as well as various tools designed to streamline the development process. Azure customers have access to the Ethereum blockchain after Microsoft partnered with ConsenSys, a decentralized collective of Ethereum coders launched by Ethereum co-founder Joseph Lubin. ConsenSys works to create…