Day: November 20, 2019

Featured: The Connection Between Cryptocurrency and Money Laundering

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In recent years, cryptocurrency has become one of the most important components of the global financial system, as it can be considered as a significant form of personal wealth. Many businesses that have emerged over the past decade are involved with cryptocurrency trading and development. Though the use cases of cryptocurrency for illegal purposes are much less compared to legitimate transactions, crypto crime cannot be ignored. As per recent academic analysis, in 2019 only $829 million in Bitcoin(BTC)trade was spent on the dark web, which translates to a meager 0.5%…

Altcoin Market Capitalization Shrinks Despite Volume Boost Since 2017

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At present, the combined capitalization of the 2,022 crypto assets with a known market cap was roughly $222 billion. On Nov. 19, 2017, just weeks before the current all-time highs would be set for the price and capitalization of Bitcoin and the crypto market overall, the 985 tokens with a known market cap represented a capitalization of around $244 billion — a similar zone to where the market is at currently. However, with the capitalization of Bitcoin (BTC) having grown 15% from $134.1 billion to $154.6 billion during the 24…

Quebec Mining Firm Expands Despite Protests of Local Population

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The cryptocurrency mining operations of mining firm Bitfarms are still expanding despite complaints of the residents of the city of Sherbrooke, Quebec. Local news outlet CityNews reported on Nov. 20 that residents living near the site of the firm’s mining operations are complaining about the allegedly intolerable sound and vibrations originating from the facility. The complaints of the population The firm’s executives claim that the noise problems will be solved by a 23-meter wall around its mining farm, but residents are not convinced. Marcel Cyr, a resident living across the…

ArcBlock Partners with Ride-Sharing Service GoFun to Develop Services and DApps on Blockchain

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ArcBlock has announced a new partnership with GoFun, a leading ride-sharing service, to support the development of their new GoFun Connect adding new blockchain-enabled capabilities and data services to benefit their customers, partners, and dealers. advertisement Tan Yi, CEO of GoFun, said: “GoFun Travel and GoFun Connect will work with new and existing partners to reshape the automotive industry, tap into potential value, and achieve increased benefits across different distribution channels. At the same time, with our new blockchain-enabled services, we are able to create a new Internet of Vehicles…

Sberbank Patents Blockchain Repo Solution in a Purported First for Russia Banks

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Russia’s largest bank, the state-owned Sberbank, has pioneered a blockchain solution for repurchase agreements — also known as repo. According to a Sberbank announcement on Nov. 19, the bank has been awarded a patent for the solution, which uses smart contract technology to automate repo transactions between parties. Repo markets Repurchase agreements are widely used in wholesale funding markets and serve as a vehicle for banks and non-banks to access liquidity via short-term funding agreements that are collateralized by underlying securities.  In a repo transaction, a bank (or other entity)…

Bitcoin.com to Launch $200 Million BCH Ecosystem Investment Fund

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Bitcoin.com is planning a major step toward promoting the growth of the BCH ecosystem. A $200 million fund will empower developers to offer new capabilities to bitcoin cash users as well as give institutional investors a chance to capitalize on the future of the cryptocurrency. Also Read: Bitcoin.com Wallet App Marks Over Five Million Wallets Created $200 Million Investment Fund Bitcoin.com is planning to launch a $200 million BCH investment fund in 2020 that will focus on payment related solutions and non-custodial financial services for Bitcoin Cash. The fund will…

Bitcoin Dips, Gold Rises as Trump Derails U.S.-China Trade Talks

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Trump threatens to derail trade talks with China, standing firm on Beijing making huge agricultural purchases. U.S. stocks decline as investors move capital into safe-haven assets. Bitcoin yet again fails to act as a hedge while gold surges. Gold outperformed its rival bitcoin on Wednesday as trade talks between the U.S. and China seemed to hit an impasse. President Donald Trump on Tuesday threatened to slap more tariffs on Chinese goods, a move that could thwart the White House’s plans for a “phase one agreement.” Investors took Trump’s words as…

Galaxy Digital CEO Michael Novogratz to Offer “Cheap” Bitcoin Funds

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Michael Novogratz will be launching two different bitcoin funds. Novogratz wants to bring “the wealth of America” into the crypto market. The new funds would offer cheaper services than what competitors are offering. Galaxy Digital Holding CEO Michael Novogratz is launching two bitcoin funds that target accredited and institutional investors who have been waiting on the sidelines for a cheap and secure service way to access the pioneer cryptocurrency. Bitcoin is hovering around $8,000. | Source: TradingView Bitcoin Funds on the Cheap for America’s Billionaires In a recent interview with…

New York Judge Grants US Government Right to Intervene in $7M Bitcoin Fraud Case

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The New York Southern District Court has ruled in favor of the United States government to intervene in a civil case against Jon Barry Thompson, who is alleged of a $7 million Bitcoin (BTC)-related fraud. With Judge Loretta A. Preska’s ruling on Nov. 19, the U.S. government — in this case, represented by the Commodity Futures Trading Commission (CFTC) — now has the right to intervene in civil proceedings that are running parallel to a criminal multimillion Bitcoin scam case. Thompson, a resident of Easton, Pennsylvania, is charged with “knowingly…