Day: November 10, 2018

Crypto Market Recovers From Pullback, But Bitcoin Momentum is Weak

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Twitter Facebook LinkedIn The cryptocurrency market has started to recover gradually from a major pullback, which occurred following a substantial 40 percent increase in Bitcoin Cash (BCH) and a surge in the price of several other major cryptocurrencies. Over the last 24 hours, the valuation of the cryptocurrency market has increased from $211 billion to $213 billion, by less than one percent. Some cryptocurrencies including Ripple (XRP) and Ethereum (ETH) have started to demonstrate momentum, both recording around a 2 percent rise in value on the day. The volume of…

German Financial Regulator BaFin Shuts Down Activity of British Crypto-Related Firm

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The German Federal Financial Supervisory Authority (BaFin) has ordered partial cessation of activities by U.K.-based crypto-related firm Finatex Ltd., according to an official announcement published on BaFin’s website on Friday, Nov. 9. According to the BaFin’s notice, reportedly dated Oct. 2, Finatex Ltd. is ordered to “immediately” stop offering cross-border proprietary trading on its trading platform, Crypto-Capitals. According to BaFin’s announcement friday, the firm must cease trading since its activity is not approved by German financial legislation, including the German Banking Act. In a short description of the company’s activities,…

Crypto Exchanges Should Take a Hard Look at IP Address-Masking Services

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Richard Malish is General Counsel at NICE Actimize where he counsels on global anti-money laundering, fraud, trading compliance and banking regulatory matters. The New York Attorney General (“NY AG”) recently issued a report on its fact-finding enquiries to multiple virtual currency trading platforms believed to be operating in New York. One of its many interesting findings was how virtual private networks (“VPNs”) may permit market manipulation. VPNs are a critical tool for privacy-minded cryptocurrency traders, as well as the only method for some traders to access these markets in countries…

How Has Binance Been More Successful Than Coinbase Within a Year?

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Trading volume across the cryptocurrency market has remained on a downward path all this year. But that hasn’t affected the growth rate of Binance, currently the world’s leading cryptocurrency exchange by volume. The Malta-based organization expects to earn circa $1 billion in profits despite the market slump in 2018. That is almost $650 million higher than the annual profit projections of Coinbase, around $456 million by the end of this year. While the market awaits a more precise picture as both the exchanges post their annual reports next year, the…

BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain

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Twitter Facebook LinkedIn Two European and one Japanese bank one have completed the first blockchain-based syndicated loan. Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. According to BBVA, the blockchain pilot is proof that distributed…

This Limited Edition Watch Will Cost You $25,000 in Bitcoin (BTC)

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To celebrate the ten year anniversary since the creation of Bitcoin (BTC), a company known as Hublot is launching a limited edition watch. The watch – known as the Big Bang Meca-10 P2P – is available for purchase online using only Bitcoin. The watch will have the transaction number of the purchase engraved on the edge of the bezel: the grooved ring holding the cover of a watch face. Two versions of the watch can be found below courtesy of Hubolt. Ricardo Guadalupe, CEO of Hublot, stated the following about…

Evident Proof, Leading Blockchain Immutable Proof Platform Accept Dash & XRP As Business Adoption Soars

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About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startupsand has written over 1500 articles on Blockchain technology andstartups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat Ad honorem – Honorary Ph.d –…

Cryptocurrency Exchange Giant Binance Launches Research Division

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Twitter Facebook LinkedIn Binance announced around midnight Chinese time yesterday that it is branching beyond being an enterprise-quality consumer token exchange with the launch of Binance Research, an investigative subproject which relays in-depth, objective information on upcoming tokens – presumably, tokens listed on the exchange. Binance Research is a new pillar of the Binance ecosystem, focused on the creation of institutional-grade research reports with the aim of increasing transparency and improving the quality of information available within the crypto space. The two reports already posted are rather in-depth and, as…

BitMEX to Settle Contracts using Bitcoin Cash ABC After BCH Hard Fork

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With the Bitcoin Cash (BCH) hard fork date quickly approaching, plenty of cryptocurrency enthusiasts are anxious as to how many crypto exchanges will support the event. We have had the likes of Binance, Coinbase, Ledger and BitMEX announcing their plans to handle the hard fork. In the case of the latter exchange, the team has just announced additional information as to how the platform will support the hard-fork on the 15th of November. BitMEX to Settle Contracts Using Bitcoin Cash ABC Price In a blog announcement that was also distributed to all users…

BOScoin Announces First Voting Results at BOSCON 2018

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Korea’s first blockchain project BOScoin (www.boscoin.io, Corporate Name: BlockchainOS) announced they will host a global conference named “BOSCON 2018” at Yongsan Dragon City Hotel on December 7. At this conference, BOScoin will hold technical sessions on the newly launched Mainnet and also release voting results from the first “Public Financing” proposal, which will establish Membership rewards and is a key function of the Mainnet. BOSCON is meaningful in that it discloses the first outcomes derived from BOScoin global community members participating in the Congress Voting process. As the initial step before…