Day: October 3, 2019

Andreessen Horowitz Opens School Focused on Crypto Startups

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Venture capital firm Andreessen Horowitz (a16z) is opening a school specializing in startups aiming to develop cryptocurrency-related projects. Andreessen Horowitz unveiled its Crypto Startup School in an announcement on Oct. 3, saying that it intends to “encourage more tech entrepreneurs to start crypto projects and help crypto-curious builders navigate the idea maze.” Referring to the so-termed idea maze, the company addressed the importance of good ideas for startups industry, which are eventually “well developed, multi-year plans that contemplate many possible paths according to how the world changes.” Commenting on the…

Bug Bounties in Crypto — the Best Way to Ensure Platform Safety?

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Crypto companies often find out the hard way that hackers know their security systems better than they do. As hacks in the crypto world can and often do result in hundreds of millions of dollars worth of tokens being stolen, the fate of a company’s future can often ride on its security measures. In an effort to batten down the hatches, companies offer bug bounties.  These bounties are essentially competitions in which hackers are encouraged to try to compromise software. The hackers then submit a vulnerability report to the respective…

Telegram to Launch Its Telegram Open Network (TON) in October

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Telegram has indicated that the Telegram Open Network (TON) could launch at the end of this month. On Wednesday, in an email to TON investors, the firm indicated that the launch is on track as planned earlier. TON Could Be Ready by October 16 The CTO of TON Labs, Mitja Goroshevsky, confirmed the information indicating that TON Labs will be responsible for running and managing the validation pool. TON Labs is a startup tasked with the responsibility of creating tools for TON developers. Investors will receive the TON key generation…

Ohio Suspends Bitcoin Tax Payment Services

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In a press release issued on October 2, 2019, Ohio Treasurer Robert Sprague announced the suspension of the OhioCrypto.com website which allowed businesses to file their taxes with bitcoin (BTC.) A Short-Lived Affair Ohio’s love affair with the premier cryptocurrency didn’t last particularly long as on October 2, 2019, the state’s Treasurer, Robert Sprague, stated that Ohio was shutting down its bitcoin payment portal OhioCrypto.com that allowed business enterprises to pay their taxes with digital currency. Sprague added that after an internal review, it came to light that an official…

Bitcoin Price Trapped Below $8,500 as Bears Call for a Drop to $6K

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Around this time last week, the situation was looking increasingly dire for Bitcoin (BTC) and murmurs of a drop to $6,000 and even $3,000 began to circulate amongst traders. Even today there are still those that consider this a real possibility and perhaps it is. For the moment, Bitcoin appears to have stabilized and traders are hopeful that a strong move to $8,500 will occur over the coming days.  Where are we going?  BTC/USD 4-Hour Chart. Source: TradingView Since the drop from $10,300, Bitcoin has been pinned in the $8,000…

Uruguayan Digital Party to Embrace Æternity Blockchain Technology For Member Voting

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The next-generation, open-source blockchain for building decentralized applications- Æternity is collaborating with the Uruguay Digital Party to optimize the participation processes of the party members through the use of blockchain technology in internal voting. advertisement In an exclusive interview, CEO of Æternity Americas Pablo Coirolo told Blockchain News that Æternity protocol will be able to verify voters and allow for anonymity. “This is a governance app which allows party members to vote internally on party policy, stated Coirolo. “We separate identity from the vote on Blockchain.” Coirolo, born in Uruguay…

OKEx to Found Crypto Exchange Compliance Self-Regulated Organization

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Cryptocurrency exchange OKEx announced in a press release shared with Cointelegraph on Oct. 3 the creation of a Self-Regulated Organization (SRO) aiming to standardize crypto exchange compliance practices and policies. A global self-regulatory crypto exchange body Per the release, OKEx is already engaging with other exchange and market participants to form their planned SRO. The organization in question is meant to be similar to the World Federation of Stock Exchanges, FINRA in the United States and the World Economic Forum. OKEx made the announcement on the first day of the…

Binance Integrates Coinfirm’s AML Platform to Comply With FATF Rules

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Major cryptocurrency exchange Binance has partnered with crypto analytics startup Coinfirm to improve its anti-money laundering (AML) compliance. New platform for FATF compliance The integration of Coinfirm’s blockchain-agnostic AML Platform will purportedly streamline Binance’s compliance with the AML rules issued by the Financial Action Task Force (FATF), according to a press release published on Oct. 3. The new measures set up by the FATF require that cryptocurrency operators establish the identity behind crypto funds senders and recipients, conduct proper due diligence to ensure they are not engaging in illicit activity,…

Investment Firm Files Prospectus for New BTC Futures Fund With US SEC

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Investment management company Stone Ridge is trying to register a new Bitcoin (BTC) futures offering with the United States Securities and Exchange Commission (SEC). The new fund is called NYDIG Bitcoin Strategy Fund and describes itself as “a non-diversified, closed-end management investment company that continuously offers its shares,” with an objective to achieve capital appreciation by investing in BTC futures contracts, according to an Oct. 2 filing. Cash-settled BTC futures only Detailing its investment strategy, the company noted that the fund will only invest in cash-settled BTC futures traded on…

Bitcoin Drops from $8.4K to $8.1K, Top 20 Coins See Red

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Thursday, Oct. 3 — Crypto markets have again failed to continue their recovery as almost all the top 20 coins by market cap are seeing significant losses. Market visualization. Source: Coin360 After climbing to highs of $8,414 over the past 24 hours, Bitcoin (BTC) is down 1.4% to trade at $8,115 at publishing time. The biggest cryptocurrency by market cap has seen some volatility over the past seven days, hitting its intraweek high of $8,492 on Oct. 1 after dipping to as low as $7,833 on Sept. 30. Over the seven-day period, Bitcoin is…