Day: June 14, 2019

Bitfinex Is Starting to Buy Back and ‘Burn’ Its LEO Exchange Token

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Cryptocurrency exchange Bitfinex has announced a transparency initiative that will see it put on full view the buying back and “burning” of its LEO exchange token. In an announcement Friday, the firm said as part of its token redemption process, the UNUS SED LEO Transparency Initiative will allow the public to see parent firm iFinex use its gross revenues to purchase circulating LEO tokens at market rates. These will then be destroyed, or burned, as the firm effectively pays back those who bought the exchange token in a $1 billion sale early last month. Bitfinex…

Wasted Naysayers Continue to Flog Wasteful Energy-Consuming Bitcoin

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By CCN Markets: Here we go again. Yet another article has surfaced taking potshots at the perceived threat of Bitcoin’s energy consumption. A recent article out of MIT Technology Review claims that: Mining Bitcoin is a hugely wasteful process. For miners to accrue more of the cryptocurrency, powerful computing hardware must solve increasingly difficult, and pointless, puzzles. The article cites an in-depth study conducted by researchers at MIT and the Technical University of Munich. A slightly different approach compared the hardware and efficiency use from the IPO filings of the…

Microsoft to Collaborate With Icertis in Enhancing Blockchain-Based Contractual Offering

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Major enterprise contract management service Icertis will collaborate with Microsoft to expand its blockchain-based contract solution, the company announced on June 11. By entering the collaboration, Microsoft will help Icertis to extend its Icertis Blockchain Framework, which is designed to enhance the transparency and efficiency of contractual frameworks using smart contracts technology. The Icertis Blockchain Framework offers a blockchain-powered solution to track contractual requirements and commitments, improving the quality of collaboration and accountability. The tool aims to solve various problems associated with contractual arrangements on the supply chain, including combating…

Bull Trap? Bitcoin’s Price Rise to $8,300 Isn’t Backed by High Volumes

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View Bitcoin has rallied more than 9 percent in the last nine days, but on low volumes – a sign of low investor confidence. As a result, the gains could be short lived. The bearish volume divergence indicates BTC could dive out of a “rising wedge” bearish reversal pattern seen on the 4-hour chart. A wedge breakdown, if confirmed, could see a return to $8,000 or lower. If trading volumes pick up in the next 24 hours, prices may rise above $8,500 over the weekend, validating a bearish channel breakout…

Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

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Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services to its 2.4 billion users. Bowles will join the company in September, and will reportedly be its London-based director of public policy. Earlier today, news broke that Facebook has allegedly sealed backing from over a…

Binance US is Finally Launching, Will Co-Exist with Coinbase: CEO Zhao

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By CCN Markets: Binance, the world’s largest crypto exchange by trading volume, is launching in the U.S. with a partnership with BAM Trading Services Inc. as Binance.US. The price of Binance Coin is up more than four-fold year-to-date (source: coinmarketcap.com) Speaking to CCN in an exclusive interview, Binance CEO Changpeng Zhao explained the motive behind the company’s decision to expand into the U.S. and the team’s view of the regulatory landscape in the U.S. Why binance is finally launching in the u.s. As seen in the recent fallout between Bittrex…

Google Cloud Integrates Chainlink Oracles in Analytics Data Warehouse With ETH DApp Support

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The Google Cloud team has integrated Chainlink’s oracle middleware with its BigQuery enterprise cloud data warehouse, allowing for an on-chain and cloud-based interaction with Ethereum decentralized applications and smart contracts. The news was revealed in a development report published on June 13. As previously reported, a blockchain oracle is a system that provides the necessary external data — i.e. the variables to be evaluated — to trigger the execution of a smart contract when the original terms of the contract are met. The development post writes that Google has made…

Bitcoin Price Reclaims $8,200 as Trade War Intensifies Bullish Demand

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By CCN Markets: In the past four days, the bitcoin price has increased from $7,630 to $8,240 by nearly eight percent against the U.S. dollar as other major crypto assets such as Ethereum and Litecoin recorded large gains. The bitcoin price has recovered strongly in the past four days, reclaiming $8,200 (source: coinmarketcap.com) As technical analysts anticipate bitcoin to sustain its momentum in the near to medium term following the seven-year trendline of the asset, strategists look towards the trade war between the U.S. and China as a potential catalyst…

Helpful Tips to Become a Crypto Franchise in Hong Kong

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Cryptocurrency, also known as digital currency is created and managed with the advanced encryption techniques also known as cryptography. Slowly but steadily, the global economy has shifted to a more digital and eco-friendly system. Different systems in economic world like savings, transfers and even investments have gone paperless. Cryptocurrency is the latest and the fastest growing participant in this race. Cryptocurrency made its heroic entry in 2009 and took the market by storm. Hong Kong has been well known as the crypto hub for a long time. Investment opportunities in…

Europol Reveals Gamified Coin Tracing Training for Law Enforcement at Crypto Conference

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Europol — the law enforcement agency of the European Union — is hosting its sixth cryptocurrency conference, with over 300 crypto experts from law enforcement and the private sector reportedly in attendance. The news was revealed in a Europol press release published on June 14. The conference — organized by Europol’s European Cybercrime Centre (EC3) and hosted June 12-14 at the Europol headquarters in the Hague, Netherlands — is allegedly the largest law enforcement crypto event in Europe. Per the press release, the conference focused on opportunities to strengthen cooperation…