Day: September 28, 2019

The Story Behind the Explosive Growth of Crypto Funds

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The explosive growth of crypto funds is a compelling story, especially when you consider that the concept has only been around for six years. Today, crypto funds have become the engine powering the thriving crypto industry. Compared to the 224 funds launched in 2017, 2018 showed unprecedented growth as 239 new crypto funds entered the fray.  However, many have projected that the number will drop in 2019. Yet, according to proprietary research by Crypto Fund Research, there are reasons to believe that the crypto fund industry will continue to make…

Blockchain Adoption as a Cure for Cross-Border Trading

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In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed in a joint venture between IBM and logistics giant Maersk, Tradelens seeks to streamline processes…

Crypto Markets Turn Green Following Tough Week, BTC Price Above $8,000

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Saturday, Sept. 28 — All of the top-20 cryptocurrencies by market cap have entered the green zone, recovering from recent losses, with Bitcoin (BTC) hovering above the $8,000 mark, according to Coin360. Cryptocurrency market daily overview. Source: Coin360 Over the past day, Bitcoin has been trading in a narrow corridor between $7,889 and $8,244, which mark the coin’s lowest and highest price points over the past 24 hours. At press time, BTC is trading at around $8,093, up around 1.6% on the day. On its weekly charts, BTC is down by…

The Original Sins of Cryptocurrencies

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The crypto industry is on its way from the epic early days, when it was a technological phenomenon exclusive to a limited group of techs, scientists and enthusiasts, to its final destination: a financial commodity intended for use by everyone. Of course, the journey has just begun, and it is riddled with potholes, traps and a high level of resistance. The extent of the crypto revolution is total, disruptive, world-wide and irreversible. But its final destination is pretty neat: a screenshot of an average day on planet Earth by 2050…

Brooklyn Nets’ Spencer Dinwiddie Cannot Tokenize His $34M Contract

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The National Basketball Association (NBA) notified Brooklyn Nets’ player Spencer Dinwiddie that he cannot tokenize his $34.4 million contract. As The New York Times reported on Sept. 27, the NBA pointed out that Dinwiddie’s initiative goes against the collective bargaining agreement in a statement sent to the outlet. The statement reads: “According to recent reports, Spencer Dinwiddie intends to sell investors a ‘tokenized security’ that will be backed by his player contract. The described arrangement is prohibited by the C.B.A., which provides that ‘no player shall assign or otherwise transfer…

Australian Startup to Offer 20% Payback on Fuel Purchases in Tokens

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Australian startup Incent plans to offer a 20% payback in its INCNT token on fuel purchases at United Petrol stations for a limited time.  Incent announced in a press release published on Sept. 26 that participants will have to sign up on its platform and sync their bank accounts in order to receive the tokens. The firm also claims that the crypto asset in question is “Australia’s first cryptocurrency for all purchases at United Petrol stations.” A substitute for point-based loyalty programs United Petrol reportedly owns over 450 stations across…

Experts Discover Systematic Manipulation of Bitcoin Value by Wall Street

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Crypto experts have indicated that Chicago Mercantile Exchange (CME) may be manipulating the price of Bitcoin(BTC)trade in a systematic order. A recent research article by a Norwegian crypto news group, Kryptografen, has waved red flags over a shocking discovery of sharp plunges in Bitcoin’s value each time CME contracts expire. Another news group, TrustNodes, has consistently lobbied for a case against Wall Street’s institutional involvement in the valuation (and devaluation) of Bitcoin. The news group has presented dropping figures of devaluation that were following a systematic trend. For example, the…

Crypto Exchange Coindirect Launches OTC Brokerage in South Africa

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Cryptocurrency exchange Coindirect launches an over-the-counter (OTC) brokerage in South Africa. As industry news outlet CoinInsider reported on Sept. 27, the platform creates a vast liquidity pool by integrating with global platforms, allows for Bitcoin (BTC) price locks after a confirmation and for instant processing with no fees or slippage.  Aimed at high volume users The service lets high volume users to avoid lengthy transactions that can reportedly take over 12 hours. The exchange’s COO Nic Haralambous added: “During our first two years in the industry we have paid close…

Bitcoin’s LN Developer Discloses the Network’s Vulnerability

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Bitcoin’s (BTC) Lightning Network (LN) developer Rusty Russel has published the full disclosure of the network’s vulnerability discovered in August, accompanied by a solution. Russel pointed out that the vulnerability appeared while opening funding channels. The described process does not require that receivers check if a transaction is the one promised by the funder in terms of amounts and the actual scriptpubkey.  Scriptpubkey is an output transaction script that requires specific conditions to be observed for a receiver to spend their Bitcoins. The file explains: “A lightning node accepting a…

Crypto Traders Hope for Relief Rally

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Subsequent to the recovery of the Bitcoin price (BTC) movement from $7,700 to around $8,200 in the past 24 hours, technical analysts anticipate Bitcoin and other major crypto assets to recover in the short term. Speaking to Cointelegraph, crypto trader Nick Cote said that there are plenty of times when the price history was at $7,600, which is likely to hold as a level of strong support for traders in the upcoming days. Technical analysts remain divided on the Bitcoin price trend and the rest of the crypto market, but…