April 2019

Former CFTC Exec and Crypto Advocate Bart Chilton Dies at Age 58

April 29, 2019 boss

Bart Chilton, former executive at the U.S. Commodity Futures Trading Commission (CFTC) and known crypto advocate, has died at age 58 after a reportedly sudden illness. TV channel RT America broke the news on April 27. A former member of the United States House of Representatives from 1985 to 1995, Chilton served at the CFTC’s Energy and Environmental Advisory Committee and the Global Markets Advisory Committee from 2007 to 2014. After CFTC, Chilton joined the law firm DLA Piper as a senior policy advisor for regulatory and public policy issues.…

Bakkt Gives Update On Bitcoin (BTC) Futures Contract, Unveils Custody Details

April 29, 2019 boss

Bakkt Unveils Bitcoin Custody Plan At last, the crypto space has been blessed with another update from Bakkt, the Bitcoin (BTC) initiative from the Intercontinental Exchange. On Monday morning, Adam White, the COO of Bakkt who hails from a Coinbase executive position, released an extensive Medium post about how his firm intends to store the BTC backing its proposed futures contract. Following a brief monologue about the importance of custody, which included terms like “the future of digital asset infrastructure,” “ironclad infrastructure and a security-first mindset,” and others that accentuated…

ICE’s Bakkt Announces Acquisition of Digital Asset Custody Company

April 29, 2019 boss

Intercontinental Exchange (ICE)-lead institutional cryptocurrency trading platform Bakkt has аcquired a crypto custodian service, the firm announced on April 29. In a blog post, Bakkt announced a number of new measures in its apparent effort to stimulate regulatory feedback, including the acquisition of Digital Asset Custody Company (DACC). DACC’s team will also be joining Bakkt, and the blog post notes that “DACC’s native support of 13 blockchains and 100+ assets will serve as an important accelerator.” The post states that Bakkt has filed with the New York Department of Financial…

Bitcoin Rally Takes a Breather After Market Gets “Bitfinexed” Once Again: BTCManager’s Week in Review Apr 29

April 29, 2019 boss

The price of bitcoin closed effectively unchanged versus last week’s close – after hitting a recent high of $5,640 – as a result of the New York Attorney General Office’s claims that Bitfinex has been covering up an $850 million loss using funds from its sister company Tether. The Big Stories New York Attorney General Letitia James announced on April 25 that her office obtained a court order against iFinex, the parent company of Bitfinex and Tether, to investigate potential fraud involving the mishandling of funds. She alleges that the…

SEC Suspends Trading in Securities of Crypto Exchange Bitcoin Generation

April 29, 2019 boss

The United States Securities and Exchange Commission (SEC) has temporarily suspended trading in the securities of crypto exchange Bitcoin Generation, the government agency announced on April 29. In a statement, the SEC said the suspension will be effective from 9:30pm EDT on April 29 until 11:59pm EDT on May 10. The SEC said it had taken the decision “due to concerns about the accuracy and adequacy of information in the marketplace” surrounding its outstanding common stock, promotional activities and the impact they had on the market, as well as the…

Galaxy Digital Posts Net Loss of $272.7 Million for 2018

April 29, 2019 boss

Galaxy Digital CEO Michael Novogratz reportedly compared the final quarter of 2018 to watching Game of Thrones. Crypto investment bank Galaxy Digital had a net loss of $272.7 million in 2018, the company announced in a news release on April 29. According to The Block, CEO Michael Novogratz said the final quarter of the year for the crypto industry “felt a little bit like watching Game of Thrones last night” — alluding to the show’s reputation for bloody, violent storylines. He reportedly told shareholders during a conference call: “The results…

Bitmain Aims to Leapfrog Competition With Its Next-Gen Bitcoin Miner

April 29, 2019 boss

On April 28, the China-based mining rig manufacturer Bitmain Technologies announced the launch of its latest Antminer T17 model which processes roughly 40 terahashes per second (TH/s). The machine delivers better power efficiency with 55 joules per terahash (J/TH) and the T17 is also equipped with second-generation TSMC 7nm semiconductors. Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter Bitmain’s Newly Launched Antminer T17 Boasts 40TH/s Bitmain has announced its latest product release with the new T17 model, a mining rig that supposedly boasts 40TH/s at…

UAE Becomes World’s Biggest Contributor to Token Sales, Data Shows

April 29, 2019 boss

The United Arab Emirates (UAE) has been the world’s biggest contributor to crypto token sales so far this year, according to data recently released by CoinSchedule. More than 25% of funds raised since the start of 2019 — $210.5 million — have come from the Gulf nation. The Cayman Islands came second with $103.8 million, with Singapore third with $89.7 million. While the United States has long dominated token sales, the data shows it has fallen to sixth place in terms of the funds raised since January. U.S. investors have…

Craig Wright Rages at ‘Conman’ John McAfee, ‘Money Laundering’ Binance

April 29, 2019 boss

A few weeks after Binance delisted the Bitcoin SV altcoin, self-proclaimed Satoshi Nakamoto, Craig Wright, has slammed the world’s largest crypto exchange calling it a ‘super bucket shop’. In an interview with Finder, Wright accused Binance of engaging in wash trading and money laundering: You have things like CZ (Changpeng Zhao, Binance CEO) there and Binance which is super bucket shop which are basically money laundering organizations. They wash trades and money laundering. That’s how they make money. Additionally, Wright also alleged that the leading cryptocurrency exchange engages in market…

Craig Wright Rages at ‘Conman’ John McAfee, ‘Money Laundering’ Binance

April 29, 2019 boss