Day: July 8, 2019

Tron HQ Swarmed by Police & Protesters in Wake of Justin Sun Scam Claims

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Video footage has emerged of police surrounding the office of TRON HQ in Beijing as the fallout from the recent $30 million “Wave Field” scam continues. Initial rumors suggested authorities were “raiding” TRON’s offices following allegations of TRON founder Justin Sun’s alleged culpability in the scam. However, that notion was quickly dismissed by Sun, and a TRON spokesperson claimed the police had been called to quell a protest by victims of the aforementioned scam. In the meantime, a Whale Alert shows that $23.5 million worth of TRX was moved to…

Chinese Central Bank’s Blockchain Trade Platform Processed $4.36B

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The  blockchain trade finance solution of the People’s Bank of China (PBoC) processed over 30 billion yen ($4.36 billion) in foreign exchange transactions, local finance news outlet SINA reports on July 8. Per the report, the platform is supported at 483 branches of 28 banks in Shenzhen and is currently operating normally. Still, due to an allegedly uneven adoption of financial technology, the business volume is still proportionately small. PBoC representatives explained in the report that blockchain technology avoids the slow paper trail between multiple receiving departments that is typical…

KuCoin Derivatives Platform KuMex Kicks Off with a 20x Leverage on Bitcoin

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The IDG-backed cryptocurrency trading platform KuCoin recently launched its affiliate derivatives platform – KuMex initiating a ceaseless Bitcoin contract leveraging to the tune of 20x. KuCoin, the Indigen (IDG) endorsed cryptocurrency exchange, has just introduced a crypto derivatives platform under the name-tag of KuMex. As on Monday, 8th June, KuCoin disclosed that the beta version of the KuMex derivatives platform has been officially launched debuting a continuous Bitcoin trading contract (XBTUSDM) pegged to the U.S dollar, as its first pair with a prospect of a 20x leverage.  In order to…

Open-Source Platform Lets Users Build Their Own Blockchain in Under 10 Min

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An out-of-the-box solution says it enables anyone, even with no experience, to build their own blockchain in under 10 minutes. According to Nuls, businesses are going through a similar evolution as they did with the early internet, when every company wanted their own website: They now want their own blockchain. And although these firms may not fully understand how to deploy blockchain technology, they are aware of how their business may benefit from it. Nuls aims is to “dismantle some of the biggest barriers” that are stopping individuals and companies…

Former Bitmain CEO Opens New Cryptocurrency Startup

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The former CEO of Bitmain, one of the largest bitcoin (BTC) mining pools globally, has launched a crypto-related financial services startup, according to a Bloomberg report on July 8. Following reports on the initiative in early June, Bitmain co-founder and former CEO Wu Jihan officially launched a new crypto trading platform today that purportedly offers over-the-counter (OTC) trading, lending and custody.  Named Matrixport, the Singapore-based firm reportedly hired dozens of former Bitmain employees that were laid off from Bitmain as a result of the bear market of 2018. While Wu…

Is Gold’s Predicted 43% Surge Enough for a Bitcoin Showdown?

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Gold has had a good year on average, setting two new six-year records in the spot price and futures market. Since Bitcoin is touted by bulls has a better store of value than gold, what does the gold rally mean for Bitcoin? For quite a while now, there have been many discussions about Bitcoin’s eligibility as a proper store of value and whether or not it can sustain what status it currently holds in that regard. In the traditional markets, gold is highly regarded by many because it’s officially recognized…

Singapore Ponders Bitcoin (BTC) Tax Exemption in Regulatory Scheme

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Singapore’s government appears set to offer tax exemptions for bitcoin and other cryptocurrencies based on a draft document published by the country’s tax body. The proposed perpetual tax holiday will reportedly apply to virtual currencies deemed to be digital payment tokens and will come into effect in 2020 if approved. GST Exemption for Bitcoin The Inland Revenue Authority of Singapore (IRAS) — the country’s tax body released a proposed new regime for crypto-related goods and services tax (GST) on July 5, 2019. According to the document, the new tax paradigm…

Bitcoin’s Stunning Growth Makes it Investable: Legendary Hedge Fund Mgr

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Mark Mobius, an emerging markets fund manager and the founder of Mobius Capital Partners, said that if bitcoin continues to grow at the current rate, he would consider investing in the dominant crypto asset. Earlier this month, Mobius said that every portfolio needs to hold ten percent of gold to hedge against the global economy and the performance of the equities market. Is bitcoin as a store of value narrative strengthening? On Bloomberg Daybreak: Middle East, Mobius said that despite the presence of geopolitical risks as a result of the…

Bitcoin’s Stunning Growth Makes it Investable: Legendary Hedge Fund Mgr

boss

Mark Mobius, an emerging markets fund manager and the founder of Mobius Capital Partners, said that if bitcoin continues to grow at the current rate, he would consider investing in the dominant crypto asset. Earlier this month, Mobius said that every portfolio needs to hold ten percent of gold to hedge against the global economy and the performance of the equities market. Is bitcoin as a store of value narrative strengthening? On Bloomberg Daybreak: Middle East, Mobius said that despite the presence of geopolitical risks as a result of the…

Tron Foundation Refutes Police Raid Theory, Price Still Drops 9.5% |

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A mob of upset investors trespassed the Tron Foundation‘s Beijing office on Monday after getting scammed by a doppelganger firm off tens of millions of dollars. The blockchain company had to call the police to disperse the crowd, according to a string of videos available across the social media platforms. Nevertheless, many in the cryptocurrency community alleged that the law enforcement staff in the video was there to raid the Tron office after it allegedly verified the company’s links with a billion-dollar Ponzi scam known as “Wave Field Super Community.”…