Month: October 2018

Binance Freezes Funds With Suspected Money Laundering Links From Controversial Exchange WEX

boss

Troubled cryptocurrency exchange WEX.nz has seen its funds frozen by fellow exchange Binance after users claimed the exchange was involved in money laundering, CEO Changpeng Zhao confirmed on social media Oct. 29. In response to an alert by an online trader known as John James on Twitter, Zhao said Binance had quarantined funds sent from wallets associated with WEX. “[T]he identified accounts are frozen, please report to law enforcement and have a case number. We will work with LE [law enforcement],” Zhao wrote in the tweet. “This is part of…

ERC-20 Co-Author Proposes New ICO Model to Protect Investors from Fraudulent Token Sales

boss

The Ethereum (ETH) developer that co-authored the ERC-20 token standard has introduced a new model for Initial Coin Offerings (ICO), Czech business news outlet Kurzy reports Oct. 31. Speaking at Ethereum’s annual Devcon conference in Prague Oct. 30, Fabian Vogelsteller, also the main developer of decentralized application (DApp) browser Mist, proposed a new approach for running ICOs that he claims will better protect investors. Vogelsteller described the concept, dubbed a “reversible ICO” (RICO), as a fundraising model that allows investors to return their tokens – and be reimbursed – at…

Drama and Myths of Crypto Come to Life in New Comic Book Series

boss

Move over DC and Marvel: a fledgling company wants to create a comic book universe where crypto and blockchain are at its center – building an immersive experience for readers with a whole new suite of coveted collectibles. Tokenville says comics offer an exciting format for entertaining crypto enthusiasts, not to mention enlightening those who are new to the community. It also believes that non-fungible tokens and decentralized apps (DApps) mean this medium can become more interactive than ever before – meaning everything from comic book characters to strips (and even…

JP Morgan’s Jamie Dimon Does ‘Not Give a Sh*t’ About Bitcoin (BTC)

boss

The Chairman and CEO of JP Morgan Chase, Jamie Dimon, is once again on the spotlight due to his recent statements about Bitcoin (BTC). Speaking on Tuesday, October 30th, at the Axios conference in Lost Angeles, Dimon stated that he did not give a sh*t about Bitcoin after being asked why he changed his mind about the dominant crypto currency. His exact words were as follows: I never changed what I said, I just regret having said it. I didn’t want to be the spokesman against bitcoin. I don’t really…

Bitcoin Whitepaper – 10 Years Since Satoshi’s Vision Was Brought to Life

boss

The evolution of key industries have been historically driven by groundbreaking technological innovations that leave an indelible mark on society. The printing press led to the scientific revolution, the discovery of electricity brought light to the world, radio waves changed the way information was delivered to the masses, and the internet completely overhauled the way we communicate and interact with information. In the same vein, over the short space of a decade, Bitcoin has had a similarly disruptive and innovative effect on the financial world and the technology underpinning cryptocurrency…

XRP Makes a 23% Monthly Decline, Among the Biggest in October

boss

Twitter LinkedIn Facebook Ripple’s XRP was among the best performing cryptocurrencies in September. But the bullish sentiment hasn’t sustained well this month. The XRP-to-USD pair has recorded a 24 percent monthly loss as October heads to a close, falling from 0.5831-fiat to 0.4400-fiat. The coin got sold off to the tune of over $7 billion, despite being surrounded with strong fundamentals all month long. That includes the launch of the xRapid system, new partnerships with Viamericas, Moneytenint, and National Bank of Kuwait, and the release of Ripple’s Q3 report that showed XRP sales…

Big Four Auditor EY Launches Zero-Knowledge System for Private Transactions on Ethereum

boss

“Big Four” auditor Ernst and Young has launched the prototype of a system that enables secure and private transactions to take place on the Ethereum (ETH) public network, according to a press release Oct. 30. The system, dubbed EY Ops Chain Public Edition (PE), uses zero-knowledge proof (ZKP) technology, an alternative algorithm for authenticating distributed ledger entries, in which transacting parties provide proof of validity, but all other information remains encrypted, including their identities. The prototype is aimed at enterprises that wish to keep their transaction records private without having…

Enterprise Ethereum Alliance Releases New Specifications

boss

The Enterprise Ethereum Alliance (EEA) has released a new set of specifications in an effort to provide standards for developers using private iterations of the Ethereum Blockchain, according to statements shared with Cointelegraph. At DevCon4 today in Prague, the EEA announced the release of its Enterprise Ethereum Client Specification V2 and Off-Chain Trusted Compute Specification V0.5. The former is a development of common standards, which aims to ensure that Ethereum developers will write code that “[motivates] enterprise customers to select EEA specification-based solutions over proprietary offerings.” The Client Specification V2…

UK’s Financial Regulator Mulls Ban on Sale of Crypto Derivatives

boss

The U.K.’s Financial Conduct Authority (FCA) has said it will consider whether to ban the sale of cryptocurrency-based derivatives, the Financial Times (FT) reported Oct. 29. Unlike crypto spot market activities, trading, transacting and advising on crypto derivatives such as contracts for difference (CFDs), options, and futures currently falls within the FCA’s regulatory perimeter and requires its official authorization. In a statement published Monday, the watchdog is reported to have said it will now launch a consultation in the first quarter of 2019 into whether or not to place a…

US Man Faces up to 5 Years in Prison for ‘Unlicensed’ Bitcoin Sales via LocalBitcoins

boss

A U.S. citizen has pled guilty before a federal court to operating an “unlicensed money transmitting business” via LocalBitcoins.com, according to a Department of Justice (DoJ) press release published Oct. 29. The man, Jacob Burrell Campos, has reportedly admitted to “selling hundreds of thousands of dollars” in Bitcoin (BTC) “to over 1,000 customers” in the U.S. between Jan. 2015-April 2016, thus deemed to effectively be operating what the DoJ characterizes as an unregistered “Bitcoin exchange.” Availing himself of the popular peer-to-peer platform LocalBitcoins.com, Burrell reportedly failed to register his business…