Day: February 8, 2019

QuadrigaCX’s Creditors Are Fighting Over Who Should Be Paid Back First

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Creditors of the failed cryptocurrency exchange QuadrigaCX are bracing for a fight – among themselves. Customers who had fiat currency balances at the exchange before it went offline and sought protection from creditors in a Canadian court last week are beginning to argue they should be paid back first from recovered assets. But they expect customers who stored crypto at QuadrigaCX to push back on such demands. And even some fiat holders say such prioritization would be unfair. “There seems to be a conflict going on between creditors themselves,” Canadian resident and…

A Fight Is Brewing Among QuadrigaCX Crypto Exchange’s Creditors

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Creditors of the failed cryptocurrency exchange QuadrigaCX are bracing for a fight – among themselves. Customers who had fiat currency balances at the exchange before it went offline and sought protection from creditors in a Canadian court last week are beginning to argue they should be paid back first from recovered assets. But they expect customers who stored crypto at QuadrigaCX to push back on such demands. And even some fiat holders say such prioritization would be unfair. “There seems to be a conflict going on between creditors themselves,” Canadian resident and…

Bitcoin Breaks the $3,450 Mark Amid Minor Stock Market Sees Downturn

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Friday, Feb. 8 — most of the top 20 cryptocurrencies are reporting slight to noteworthy gains on the day by press time, with Bitcoin (BTC) breaking the $3,450 mark again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is up three-quarters of a percent on the day, trading at around $3,462, according to CoinMarketCap. Looking at its weekly chart, the current price is just over half of a percent lower than $3,484, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap…

Yosemite X has Announced the First Open Source Public Blockchain that Operates without a Native Cryptocurrency

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Yosemite X, a blockchain technology company that creates new solutions to old challenges, just announced the release of its open source public blockchain that operates without a native cryptocurrency. The new protocol gives developers and businesses the ability to build solutions and reduce costs without the price instability of crypto. This approach enables companies to harvest the benefits of blockchain – greater transparency, enhanced security, increased efficiency, speed of transactions at scale – and pay for their network usage with more stable fiat currencies. advertisement While the idea of using…

‘Blockchain Is Still Far From Institutionalization’

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Joyce Chang, global research chair at JPMorgan Securities, has said that blockchain technology is still far from institutionalization and must still overcome key hurdles before it can break through to cross-industry adoption at scale. Chang made her comments during an interview on the “Bloomberg Daybreak: Americas” television show on Feb. 7. Chang noted that blockchain adoption — if not yet institutionalized — is being spearheaded by industries with particular characteristics where the technology can bring real and immediate backend efficiency gains. She highlighted those sectors that rely upon cumbersome legacy…

Ethereum Denies It Is Mulling $15 Mln Investment to Develop Verifiable Delay Functions

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The Ethereum Foundation has refuted alleged plans to spend a prospective $15 million on the development of Verifiable Delay Functions (VDFs) for use in its transition to a Proof-of-Stake (PoS) network. The clarification was made by Foundation researcher Justin Drake in private correspondence with Cointelegraph on Feb. 8. A report from crypto news outlet CoinDesk had purported that the Foundation was considering an investment of $15 million to develop the technology, given its prospective benefit for Ethereum’s future transition to a PoS-based system. Drake however told Cointelegraph in an email…

Credit Suisse Completes Joint Mutual Fund Transactions Using Blockchain

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Global investment bank Credit Suisse and Portuguese Banco Best have completed end-to-end fund transactions on blockchain, according to a press release published Feb. 7. The financial institutions have reportedly processed every part of the fund trade process by implementing a blockchain-based decentralized platform, FundsDLT. Designed to improve the efficiency of fund transaction processing with the use of blockchain and smart contracts, FundsDLT would purportedly reduce the time between request and the settlement from delivery of the order to trade processing. Within the initiative, Lisbon-based Banco Best — specializing in banking,…

Italian Parliament Approves Bill Defining Distributed Ledger Tech, Blockchain Terms

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The Italian House of Representatives has approved a bill defining distributed ledger technologies (DLT) such as blockchain, Cointelegraph Italy reported on Feb. 7. With 275 votes in favor, 206 against and 27 abstentions, the bill dubbed “Semplificazioni” has moved forward. The Agenzia per l’Italia Digitale will now define the technical criteria that smart contracts will have to comply with in order to have legal validity. Maria Laura Mantovani, a member of the Italian Parliament in the Movimento 5 Stelle party, told Cointelegraph Italy that a favorable use case for blockchain…

Former Point72 Exec: Bitcoin is Still a Perfect Way to Bet Against Central Banks

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Travis Kling has taken to the streets yet again. This time, the chief investment officer of Ikigai, a Los Angeles-based crypto hedge fund that launched in October, doubled-down on his sentiment that Bitcoin (BTC) is a perfect way to bet against the monetary policy enlisted by global governments and Wall Street mainstays. Related Reading: Economist’s Belief That Stocks Are Overvalued Has Bitcoin Enthusiasts Enthused Bitcoin Hedge Against Fiscal Irresponsibility At the Cayman Alternative Investment Summit hosted in the British Territory, Grand Cayman, Kling explained that there’s a high likelihood that the…

Japanese Financial Regulator Data Shows Queries About Crypto Continues to Decrease

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Japan’s financial regulator has released Q4 2018 data on the number of enquiries about cryptocurrencies, showing further declines. The Financial Services Agency’s (FSA) report was published today, Feb. 8. The FSA, which is responsible for overseeing the country’s crypto ecosystem, published the latest data on enquiries from September to the end of December 2018. The Japanese watchdog received 788 enquiries regarding virtual currencies, which is a little more than half as many as the 1,231 enquiries in Q3 2018. The report states that 235 cases, or 29 percent, involve general…