Day: November 16, 2018

Crypto Stocks in Asia in the Red as Bitcoin Sinks to One-Year Low

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Shares of several cryptocurrency-related companies in Asian markets fell after bitcoin led a sell-off in digital currencies, reaching a one-year low at just over $5,571, Bloomberg reported on November 15, 2018. Asia Crypto-Linked Stocks Fall According to Bloomberg, the fall followed earlier losses among U.S. companies whose businesses are closely related to cryptocurrencies. In Japan, Monex Group Inc., which runs the exchange Coincheck, experienced serious losses, fell by 2.3 percent, while SBI Holdings Inc., which runs the VCTRADE exchange, experienced a three percent loss. In Seoul, Vidente Co. and Omnitel…

Forget About Bitcoin Cash War, Mike Novogratz Turns to Tokenization of Real Estate

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Photo: Trung Kien / Flickr The market of digital assets is shattering and the league of crypto-enthusiast who once predicted skyrocketing soars, now develop new concepts to fight the current plummeting and breath new life into cryptos. Mike Novogratz is a vivid example of Bitcoin bull who used to give a cheerful keynote to crypto-investors saying that Bitcoin and other cryptos reaching the bottomline is a common thing for the emerging market of digital assets. Moreover, previously in September, Coinspeaker reported the Novogratz’s statement of $10,000-worth Bitcoin by the end…

Why Bitcoin Cash Was Never Going to Lose the Hash War With SV

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Twitter Facebook LinkedIn The cryptocurrency community expected a tight hash power battle between Bitcoin Cash (BCH) and Bitcoin Cash (SV) on November 15. But, with a decisive win and an anti-climactic result, BCH came out the winner. Bitcoin.com, a company owned by Roger Ver, saw its hash rate spike to 4 exahash, easily surpassing the entire computing power on the Bitcoin Cash network prior to the hard fork. With ViaBTC and Bitcoin.com’s hash power, Bitcoin ABC has been able to mine a significant amount of blocks after the fork, mining…

Chinese Blockchain-Related Company Xunlei Reports $45.3 Million Q3 Revenue

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Chinese desktop software and blockchain-related company Xunlei has published its Q3 report Wednesday, Nov. 14. According to the report, the firm’s revenue increased in 2018 after the introduction of blockchain services. The report notes that the company’s Q3 revenue reached $45.3 million, representing an increase of 1.1% year-over-year. The firm attributed $19.8 million of that revenue to its cloud and Internet value-added services sectors, which is an increase of 8.3 percent over the same period last year. Lei Chen, CEO of Xunlei group, stated that blockchain remains one of the…

Both Camps in BCH ‘Hash War’ Are Mining at Major Loss

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In the aftermath from yesterday‘s Bitcoin Cash (BCH) hard fork, both opposing camps in the so-called “hash war” are mining at a hefty loss, according to a tweet from the research arm of Hong Kong-based crypto derivatives platform BitMEX today, Nov. 16. On Nov. 5, BitMEX Research announced it would be launching a network monitoring tool for both Bitcoin (BTC) and Bitcoin Cash (BCH), specifically in preparation for the widely-anticipated BCH hard fork Nov. 15.   As previously reported, disagreements over a proposed network upgrade have split the BTH community…

New Free Metal Card With Crypto Perks to Be Launched in the US

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On November 16, the Hong Kong-based blockchain startup Crypto.com announced that it is planning to issue its prepaid card, MCO Visa Card, in the United States. The company says the card has been approved for launch in partnership with its local bank partner Metropolitan Commercial Bank. Its metal cards promise up to two percent token rewards with its native MCO token, airport lounge access (select cards), tap-and-pay functionality, as well as competitive interbank rates. Convert crypto to fiat with a few taps According to Crypto.com, users of the MCO Visa…

US SEC Levies ‘First’ Civil Penalties Against Two ICOs for ‘Unregistered’ Securities

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In a self-described “first,” the U.S. Securities and Exchange Commission (SEC) has imposed civil penalties against two Initial Coin Offerings (ICOs) solely over their failure to register their token sales, according to an official Nov. 16 press release. The SEC states it has reached settlements with two ICO companies, CarrierEQ Inc. (Airfox) and Paragon Coin Inc., both of whom reportedly conducted their token sales last year after the SEC had already “warned” that ICOs could be deemed securities offerings in its July 2017 DAO Report of Investigation. The nature of…

BCH Tussle: Bitcoin ABC May Reign Supreme over Craig Wright’s “Satoshi Vision”

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To the chagrin of Craig Wright and his camp, it has become increasingly apparent that Jihan Wu, Roger Ver, and their compatriots at Bitcoin ABC have taken a leading position in the Bitcoin Cash “Civil War.” So, after weeks, if not months of trash talking, crypto’s most recent shouting match has begun to come to a screeching halt. Bitcoin ABC Leaves SV in the Dust After months of anticipation, crypto investors woke up giddy on Thursday morning, as the scheduled Bitcoin Cash hard fork remained at the forefront of this industry’s mind.…

Bitcoin “Evil Spawn” of Financial Crisis, Ripple Consolidates Lawsuits

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In recent regulatory news, an executive board member of the European Central Bank (ECB) has given a dismissive appraisal of bitcoin and rejected the prospect of central banks issuing state-backed digital currencies in the foreseeable future. In other news, Ripple Labs has moved to consolidate three lawsuits into a single federal suit, while the police have arrested eight individuals in Tokyo who are suspected of involvement in a $68.4 million cryptocurrency pyramid scheme. Also Read: French Financial Regulator Estimates ICOs Have Raised $21.9B Globally ECB Board Member Dismisses Prospect ofCentral Bank-Issued…

“Wall Street’s Bookkeeper” Enters Test Phase of DLT Replatforming Along With 15 Major Banks

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On Nov. 6, the post-trade market infrastructure behemoth, the Depository Trust & Clearing Corporation (DTCC), announced that it is entering the test phase of its attempt to replatform its Trade Information Warehouse (TIW) via the use of distributed ledger technology (DLT). DTCC enters active trial phase for TIW replatforming The move to a blockchain platform comes at a time when many financial institutions are trialling the technology. In early November, Morgan Stanley released a report updating its clients about Bitcoin and blockchain, documenting several industry giants who have either already…