Day: September 24, 2019

Crypto Custodian Secures $6.2M in Funding Round Led by Initialized Capital

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Montreal-based digital asset custodian Knøx has secured $6.2 million (8.25 million CAD) in a seed round to support its crypto custody service for institutional customers and fiduciaries. The funding round was led by San Francisco-based venture capital firm Initialized Capital, with the participation of financial services giant Fidelity and venture firm iNovia, Canadian technology-focused news outlet BetaKit reported on Sept. 24.  Protection of customers against losses Knøx’s products are geared to asset management firms, liquidity providers and exchanges, specifically addressing the issue of customers’ protection against losses. Garry Tan, a…

Crypto Custodian Secures $8M in Funding Round Led by Initialized Capital

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Montreal-based digital asset custodian Knøx has secured $8.25 million in a seed round to support its crypto custody service for institutional customers and fiduciaries. The funding round was led by San Francisco-based venture capital firm Initialized Capital, with the participation of financial services giant Fidelity and venture firm iNovia, Canadian technology-focused news outlet BetaKit reported on Sept. 24. Knøx intends to allocate the raised money to further develop its offerings. Protection of customers against losses Knøx’s products are geared to asset management firms, liquidity providers and exchanges, specifically addressing the…

Kik Closes Messaging App after Costly Clash with the SEC; Focuses on Cryptocurrency Kin

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Kik, one of the largest messaging applications to operate on a global scale, has decided to shut down in the face of a ferocious legal battle with the U.S. Securities and Exchange Commission (SEC) that has exhausted the company’s chances for survival. Recently, the company issued a layoff notification to 70 employees of its cryptocurrency subsidiary Kin in Israel. Eight years ago, a group of students from Canada created an instant messaging application called Kik. Within days the application attracted millions of users, and in the subsequent years the company…

US House Hearing With Commissioners of the SEC

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Disclaimer: This report is being updated live from the Financial Services Committee floor. Check in for the latest on the hearing’s progress. All time notes are in EST. In advance: As Cointelegraph reported on Sept. 20, the United States House of Representatives Financial Services Committee is holding a hearing today, Sept. 24, with the Securities and Exchange Commission (SEC) Chairman Jay Clayton and four other SEC commissioners. At the time of the announcement, the published agenda included such critical topics for Cointelegraph’s readers as the SEC’s “Howey test” for considering…

Why 95% of Traders Lose Money and Fail

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Almost all traders are aware of the widely publicized statistic that “95% of traders lose money.” When you drill deeper, research implies that this number is likely higher. The profession chews up and spits out aspiring traders at an astounding rate.  So why are so many intelligent people drawn to a profession with incredibly high odds of failure? 6 striking stats showing traders have it rough  There are the obvious reasons — the appeal of working for yourself, sitting in your underwear on your couch all day making millions. There’s…

Bitcoin Price Technical Analysis (Sep. 24): Investors Begin Selling their Positions

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Bitcoin(BTC)trade is currently trading at $9,714. When looking at the chart below, we can see that the cryptocurrency price has recently broken the support of $9,828, turning it into resistance with a new support level at $9,695. The price has jumped up from the support level, which is a minor early indication of a positive momentum. Dow Theory According to Dow Theory, the Bitcoin price is in the distribution phase, which starts after the public participation phase. During this phase the investors who took long positions during the accumulation phase…

Proxeus Goes Live: Building on Blockchain Without Code

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Innovative blockchain workflow management software Proxeus self-coined “WordPress of Blockchain”, has just published a version of its software ready to use on the Ethereum mainnet, which will allow Blockchain neophytes the ability to create and publish document-centred blockchain applications.  advertisement “Going to mainnet is a big milestone for Proxeus,” said cofounder Antoine Verdon. “Users can take advantage of the wide-ranging functionalities offered by Proxeus to capture their specialized knowledge and make it available in the form of automated workflows – for free or for a fee set in XES”. “Proxeus…

Bitcoin Price Must Hold $9.7K or Risk New 5-Month Low, Says Analyst

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Bitcoin (BTC) price fell below $9,700 on Sept. 24 as bears continued to dictate market performance and limit gains. Cryptocurrency market daily overview. Source: Coin360 Bitcoin price struggles to hold $9,700 Data from Coin360 painted a gloomy picture for Bitcoin investors on Tuesday, with BTC/USD bouncing off lows of $9,630 to hover closer to $9,750 at press time. The pair lost 2.6% as the weekend ended, firmly rejecting the bullish behavior which had characterized markets in previous months. Bitcoin’s drop below $9,800 was the latest in a slow grind downwards,…

IBM Is Open to Working with Facebook in Developing the Libra Cryptocurrency

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International Business Machines (IBM), one of the largest international IT companies worldwide, stated on Monday that it is looking forward to collaborating with Facebook and working on its cryptocurrency Libra. IBM’s general manager of blockchain and crypto services, Jason Kelley, said in an interview that the company encourages cooperation between companies to develop newer technologies like blockchain. Kelley stated that blockchain is a team sport and that IBM’s clients are ready to work together with Facebook and looking forward to bringing it together. Kelley further emphasized the importance of drawing…

Binance.US Opens Deposits for ADA, BAT, ETC, XLM, ZRX

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Binance.US, the United States branch of major crypto exchange Binance, announced that its users will be able to deposit five cryptocurrencies, namely: Cardano (ADA), Basic Attention Token (BAT), Ethereum Classic (ETC), Stellar (XLM) and 0x (ZRX). According to the announcement published on Sept. 23, these coins are currently only available for deposits. Withdrawals will not be enabled until trading goes live. The post also includes several new trading pairs: “USD Pairs: ADA/USD, BAT/USD, ETC/USD, XLM/USD and ZRX/USD. USDT Pairs: ADA/USDT, BAT/USDT, ETC/USDT, XLM/USDT and ZRX/USDT.” An expanding list As Cointelegraph…