Day: May 13, 2019

Bitfinex and Tether Ask Court to Loosen NYAG’s Restrictions

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Tether has asked a judge for more leeway to use its cash amid the New York Attorney General’s investigation of the stablecoin issuer and affiliated crypto exchange Bitfinex. According to new court documents filed Monday, the attorneys for each side failed to come to a consensus on what, precisely, Tether should be allowed to do with its holdings. The NYAG’s office wants to prevent “any affiliated entity” from touching funds in Tether’s reserve and a 90-day injunction. On the other hand, attorneys for Tether and iFinex, the parent firm of Bitfinex,…

Platforms Listing IEOs May Face Regulatory Trouble

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The United States Securities and Exchange Commission’s (SEC) Advisor for Digital Assets and Innovation Valerie Szczepanik said that platforms seeking to list initial exchange offering (IEO) tokens for a fee could find themselves in regulatory trouble. Szczepanik delivered her comments at the Consensus 2019 conference on May 13. Speaking on IEO, Szczepanik — also known as the commission’s “crypto czar” — argued that platforms seeking to list IEO tokens for a fee and attract buyers for an issuer are likely engaging in broker-dealer activity. Szczepanik said: “If they are not…

South Korean Internet Giant Kakao’s Blockchain Platform to Launch in June

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Ground X, the blockchain arm of South Korean internet giant Kakao Corp, has announced the launch date of its own blockchain platform, a Cointelegraph correspondent learned at Consensus 2019 on May 13. Per the announcement, the Klaytn mainnet will launch on June 27, 2019, and will purportedly be a major driver of blockchain adoption in the country. Kakao has a 96% market share in South Korea, with a presence in messaging, gaming, content services, financial services and mobility services. Kakao announced its intention of launching a blockchain platform last March,…

Bitcoin Critics to Catch FOMO at BTC $10,000, Says Crypto Bull Tom Lee

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By CCN: Bitcoin’s run higher is igniting a wave of fear-of-missing-out (FOMO) among those who gloated about the cryptocurrency’s imminent demise. Fundstrat Co-Founder Tom Lee recently took time to engage with crypto Twitter now that bitcoin’s price has rebounded considerably. Through a Twitter poll, he asked, “At what price will see FOMO from those who gloated about 90% crash in BTC?” Before he closed the voting over the weekend, nearly 8,000 people had participated. Most of them believe bitcoin hitting $10,000 again will bring naysayers to their knees, causing them…

Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

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Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts. Let’s check this out. Mainstream Adoption – Ebay to Support Digital Assets? At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space. In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read…

Bitcoin (BTC) Roars Past $8,000, Leaves Bloodied U.S. Stock Market In Its Wake

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Bitcoin (BTC) has finally topped $8,000. In a move that can only be described as shocking, the cryptocurrency market returned on Monday, pushing dramatically higher on an array of fundamentalists and what one crypto Youtuber, Ivan On Tech, has called “global FOMO”. Bitcoin Posts Another 10%+ Day Bitcoin now sits at its highest level since mid-2018, posting a 14% gain as of the time of writing this. It isn’t clear when the buying pressure is going to stop, but this is quite a sight to behold. As the leading cryptocurrency…

Blockchain Project CEO to Pay $150K Fine, Teach Business Ethics Following Settlement

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Blockchain entrepreneur Alex Tapscott is paying a $148,000 fine and will lead ethics seminars at three Canadian business schools per his settlement agreement with the Ontario Securities Commission (OSC), according to a report by The Globe and Mail on May 13. Tapscott, the CEO of blockchain firm NextBlock Global Limited initially filed for a public settlement hearing with the OSC on May 9. The OSC had previously accused NextBlock and Tapscott of misleading investors when he collected a reported $20 million from 113 investors. The regulators alleged that Tapscott lied…

Bitcoin Breaks $8,000 for First Time Since July 2018, Stocks and Oil Report Losses

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Monday, May 13 —  Following a solid to break above the $7,400 mark earlier today, bitcoin (BTC) has broken $8,000, with all top-20 cryptocurrencies trading in the green. Market visualization from Coin360 BTC is trading around $8,013 at press time, up over 13% on the day.Bitcoin’s weekly gains are now at around 38.88%. Bitcoin 7-day chart. Source: CoinMarketCap Ethereum (ETH) has seen an increase of 7.57% in the last 24 hours. The second largest cryptocurrency is trading at $202.65 at press time. The altcoin’s weekly chart shows gains of over…

Up $1,200: Bitcoin Price Surges Above $8K

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Bitcoin’s price has continued to extend its recent rally to a price level beyond $8,000. At 21:30 UTC today, the price world’s largest cryptocurrency rose as high as $8,195 on Coinbase, marking a 17.4 percent or $1214 increase during today’s trading session. In the past 24 hours alone, Messari data reveals more than $27 billion worth of bitcoin was traded across exchanges, whereas $2,1 billion was traded solely on the 10 exchanges Bitwise Asset Management identified as the only exchanges reporting honest volume figures. While vigorous, today’s development is not…

Canadian Bitcoin Miner Turns a Corner, Bolsters Local Economies

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By CCN: Canada continues to grow its reputation as a friendly destination for bitcoin mining, which has been of particular benefit to the country’s provinces. Canada is attractive because of its energy cost efficiencies, which at least one crypto mining operation is taking advantage of. Emiliano Grodzki, founder and chief strategy officer for Bitfarms, recently told local media about efforts to bring more provinces on board to help them benefit from mining. This includes a recently inked agreement with Quebec that is a win-win for both sides. Radio-Canada national program,…