Day: December 10, 2018

PayPal Launches Blockchain-Based Innovation Reward System for Employees

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Major global online payments system PayPal has launched a blockchain-based reward system for its employees. Financial news channel Cheddar reported on the platform launch Thursday, Dec. 6, citing PayPal’s director of innovation Michael Todasco. According to Cheddar, the program was prepared by PayPal’s innovation team, which is based in San Jose, California, over a six-month period and was launched in mid-November. Employees using the program are granted tokens for participating in innovation-related programs and contributing ideas. These tokens are only valid within PayPal and can be traded among the participants…

How Did Twitter CEO’s Square Overtake Coinbase as #1 Bitcoin Buying App?

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Square, a payment platform for merchants and individual users operated by Twitter CEO Jack Dorsey, has surpassed Coinbase to become the most widely used iOS app to buy Bitcoin (BTC). The platform, called Cash App on Apple’s iOS store, also overtook YouTube to become the number one top free mobile application on the iOS store, demonstrating a rising demand for digitalized payment systems in the U.S. market. The easiest way for every single person in America to buy bitcoin is #1 on iOS today ? @CashApp pic.twitter.com/nYUt6tSkIJ — Miles Suter…

Crypto Trading Platform ErisX Hires Serial Exchange Founder Matt Trudeau

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ErisX is beefing up its leadership ahead of the launch of cryptocurrency spot and futures trading early next year. Revealed exclusively to CoinDesk, the digital asset trading platform has hired markets and exchanges veteran Matt Trudeau as chief strategy officer. The news comes a week after ErisX closed a Series B funding round that raised $27.5 million from firms such as Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures and Monex Group. Trudeau started his trading career in the early 2000s when the U.S. equities market was going digital and has overseen some 10 global…

Facebook Seeks Blockchain Talent for Five New Company Roles

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Facebook has listed five new blockchain-related jobs on its careers page within the past three weeks, two of which were first listed Dec. 5 and 6. The positions currently open for applicants are two software engineer roles, a data scientist post and a data engineer — all full-time roles at the company’s headquarters in Menlo Park, California. In the job description for blockchain engineer at the Facebook Blockchain Data Engineering team, the ad characterizes the position as “technically” and “intellectually challenging” work, which “will have massive global impact.” The most…

Indian Government Panel Suggests Crypto Dealings Should Be Illegal, Local Sources Say

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An Indian government panel has reportedly suggested a new legal framework within the Reserve Bank of India (RBI) that completely bans cryptocurrencies in the country. English-language Indian media outlet CNBC TV18 reported on the framework on Dec. 6. The article cites an unnamed source as noting that “the panel has categorically said that all such currencies should be treated as illegal” and that “any kind of dealing in such currencies should be treated as [such].” CNBC TV18 notes that the Indian government had created a panel to create “norms” for…

Malaysia agrees on pushing forward with regulations of ICOs and Crypto trading

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Regulations of cryptocurrencies continually develop in Malaysia According to the Bank of Negara in Malaysia the Securities Commission in Malaysia have issued a joint statement regarding the elaboration of its policies, for the applicable regulations regarding Cryptocurrencies and ICOs.  The Malaysian regulatory institutional bodies have provided details regarding its intentions to regulate digital trading of assets. This is in order to protect the interest of investors and to promote fair orderly trading business platforms. In a statement that was issued by the Securities Commission in Malaysia (SC) and the Bank…

Regulators in Malaysia have given oversight regarding the regulations of ICOs and Crypto trading

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The regulation of cryptocurrencies have been moving in Malaysia According to the Bank of Negara in Malaysia the Securities Commission in Malaysia have issued a joint statement regarding the elaboration of its policies, for the applicable regulations regarding Cryptocurrencies and ICOs.  The Malaysian regulatory institutional bodies have provided details regarding its intentions to regulate digital trading of assets. This was in order to protect the interest of investors and to promote fair orderly trading business platforms. In a statement that was issued by the Securities Commission in Malaysia (SC) and…

Bitcoin Volatility More than Triples on the Month Amid Falling Crypto Prices

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With all eyes on the crypto market mayhem and Bitcoin’s new year-to-date lows, the cryptocurrency’s soaring volatility levels remain under reported. According to the Bitcoin (BTC) Volatility Index as of yesterday, Dec. 9, volatility levels on the BTC-USD market have risen three-fold on the month. BTC-USD Volatility Index 30-Day Chart, Nov. 9 – Dec. 9. Source: buybitcoinworldwide The most recent available data for Dec. 9 indicates that BTC-USD volatility hit 5.53 percent, as compared with 1.57 percent on Nov. 9 at the start of the 30-day Volatility Index. As of…

Bitmain Closes Israeli Blockchain Development Center Citing Crypto Market Conditions

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Chinese crypto mining giant Bitmain is closing its development center in Israel and firing local employees, Israeli business news outlet Globes has learned Monday, Dec. 10. Bitmaintech Israel — founded in 2016 to explore the use of blockchain technology, work on the Connect BTC mining pool and develop the infrastructure behind Bitmain’s artificial intelligence (AI) project Sophon — will close this week. All 23 employees will be fired, the Globes reports. Gadi Glikberg, head of the Israeli branch as well as Bitmain vice president of international sales and marketing, is…

Bitcoin Faces Drop Towards $3K After Brief Price Bounce

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Bitcoin (BTC) still has the potential to drop towards $3,000, despite a minor bounce from 15-month lows seen on Friday. The leading cryptocurrency by market value picked up a bid at $3,210 three days ago –  a level last seen in September 2017. The ensuing corrective bounce, however, seems to have run out of steam, as bitcoin is currently trading at $3,470 on Bitstamp – down 4 percent from yesterday’s high of $3,633. It’s worth noting that prices are currently down more than 80 percent from the record high of…