Day: November 2, 2018

Bitcoin News Crypto Currency Daily Roundup November 2

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The rundown: Bitcoin and all major currencies were up in the morning; the global market for blockchain in agriculture and food is projected to grow to $1.4 billion by 2028; VeChain partners with major Chinese energy companies for the pilot implementation of a blockchain-powered LNG solution; Azerbaijan plans to use blockchain technology in the country’s legal, housing and utilities sectors; New York grants a virtual currency license to bitcoin ATM operator Coinsource; and more. Here is what is happening in the cryptocurrency market on Friday. SEE: Hong Kong’s Securities Regulator…

Weak Momentum Could Send BTC to $5,750

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Twitter Facebook LinkedIn Over the past 24 hours, the valuation of the crypto market has remained at $205 billion, mostly due to the stability of Bitcoin at $6,350. The gap between BTC/USDT (Tether) and BTC/USD has declined to around $50, with the Bitcoin-to-Tether pair being traded with a $50 premium. The announcement of Tether LLC’s new partner bank Deltec has led to a minor recovery of USDT. “We hereby confirm that, at the close of business on October 31, 2018, the portfolio cash value of your account with our bank…

security token exchange; to offer regulated products to American trader

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A press release confirms that seriesOne and Bithumb will partner to open a security token exchange in the United States. As per the agreement, the new exchange will offer traders compliant security tokens. In particular, the tokens will be subject to receipt of SEC, FINRA and other applicable regulatory approvals. South Korean-based Bithumb is among the largest cryptocurrency exchanges in the world. On the other hand, seriesOne is a Fintech leader in the area of blockchain technology. As part of the agreement, Bithumb will invest in a seriesOne subsidiary with…

Financial Consulting Firm DeVere Launches Arbitrage Crypto Trading Solution

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Major independent financial consulting company deVere Group has launched a suite of new Digital Asset Funds targeting “experienced investors,” according to a deVere press release published Nov. 1. According to the company’s website, deVere has more than $10 billion under “advice and administration.” DeVere founder and CEO Nigel Green has said the company’s move into crypto funds management was given impetus by the recognition that “[c]ryptocurrencies are now undeniably part of mainstream finance.” The CEO said that “mass adoption [is] on the horizon” as: “Their momentum continues to gain traction…

SFC unveils crypto rules; to tame the wild crypto sector

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In mid-October, South China Morning Post revealed that Hong Kong’s security regulator was mulling new rules for the cryptocurrency sector. A new report indicates that the SFC unveils crypto rules that will help tame the wild cryptocurrency market. As per the SCMP, the new rules by the Securities and Futures Commission (SFC) will target trading platforms. Further, the rules will rope in the fund managers that invest more than 10% of their holdings in cryptocurrencies. The rules favour institutional investors with financial depth The new rules further ban retail investors…

Hong Kong Exchange Prepares for Blockchain Trading Platform

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Twitter Facebook LinkedIn Hong Kong Exchange and Clearing Limited (HKEX) has joined forces with Digital Asset to develop a blockchain platform for post-trade allocation and processing of trades. This alliance was created under the Stock Connect programme with China, based on a FinExtra report. HKEX had been working on a prototype system for Stock Connect using Digital Asset’s platform and smart contract modeling, as it attempts to speed up the post-trade process and reduce settlement risks among traders. This plan was made known by HKEX CEO Charles Li at a…

Crypto Wallet Opens ‘Most Secure Trading Platform on the Market’ With Fixed Rates

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SovereignWallet, “one of the most secure mobile cryptocurrency wallets,” announced M-DEX, a new feature for its application. M-DEX is a free-custody mobile exchange platform that has fixed rates and can make the transfer of coins safe and quicker by using atomic swap technology. The new part of blockchain-infrastructure The company says the M-DEX exchange service will be “the most secure mobile cryptocurrency trading platform on the market.” Users will be the only people who have access to their own private keys, so they will be able to trade their coins…

Winklevoss Lawsuit Claims Charlie Shrem ‘Stole 5000 BTC’ in 2012, Shrem’s Lawyer Denies

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A lawyer for Bitcoin Foundation founder Charlie Shrem has denied claims by Tyler and Cameron Winklevoss that he “stole” 5000 bitcoins (now $31.7 million) from them in 2012, the New York Times (NYT) reported Nov. 2. In lawsuit unsealed Thursday, Nov. 1, the Winklevoss twins, with whom Shrem worked on a previous project before serving one year in jail for alleged facilitation of drug purchasing using Bitcoin (BTC), said the issue goes back to 2012. “Either Shrem has been incredibly lucky and successful since leaving prison, or — more likely…

ConsenSys acquires Planetary Resources; an asset-purchase transaction

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It seems the financial problems for Planetary Resources, an asteroid mining company if you can believer it, won’t go away without radical change. The once high-flying project of eccentric billionaires with grand ideas began experiencing debt problems, unsurprisingly, which led it to auction off some of its asteroid mining equipment. However, new reports reveal that ConsenSys has acquired Planetary Resources in a complete takeover deal. In an official statement, Planetary Resources announced that the deal involved an asset-purchase transaction. As part of the deal, the asteroid mining company’s top management…

Bitcoin Sees New Price Support From 7-Year-Long Rising Trendline

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The job is getting tougher for bitcoin bears as the number of strong support levels is growing with each passing month. The latest addition to the list is the support of the trendline connecting the November 2011 low and August 2016 low, currently at $5,830. Till Oct. 31, the two important support levels were the 21-month EMA and the trendline drawn between the June low and August low. More importantly, the 21-month EMA was the level to beat for the bears till last month, meaning a close below that EMA was…