Day: November 24, 2019

Wyoming Accelerates Pro-Crypto Legislation to Woo Blockchain Businesses

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Wyoming is leading the race to enact crypto friendly legislation to stir crypto activity in the US state. Before 2019, the western state has been conservative with its approach towards money-transmission. However, a new generation of lawmakers are turning the tide and transforming the financial thread of the state to allow for more space for digital currency to breathe in a state which has been knocking down crypto consistently until this year. A few years ago, the residents of Wyoming were not even allowed to own digital wallets. However, this…

A Berlin Odyssey — 7 Days of Crypto-Living on Monolith’s ETH Debit Card

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“YOU’VE TRANSCENDED. You are here because you’ve opened your eyes to a new type of society; one powered by a decentralised economy and full of shimmering new possibilities.”  This is not the calling card for a new religion. This is what new Monolith customers are met with when opening up the box for the first time. Narrative is a central part of cryptocurrency, whether people like it or not. Monolith has taken that narrative and made it central to its branding.  When I fished the Monolith crypto debit card out…

Harvard Simulation: Hostile Nation Obtains Huge Sums in Cryptocurrency

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The Harvard Gazette reported a simulation at the university’s Kennedy School that was set up to explore the dangers of hostile nations receiving large sums in cryptocurrency in secret. In the exercise, a futuristic timeline was set for the year 2021 in which North Korea had just experimented with a test missile which was powerful enough to deliver nuclear warheads to the United States. An emergency crisis was created as Washington was surprised that the nuclear project was funded through a newly developed Chinese cryptocurrency, letting North Korea go undetected…

The Quest for a Pan-European Approach to Cryptocurrency

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Part of the appeal of digital currencies is their global nature. Since the vast majority of digital currencies are not sponsored by an individual state, the hope was that the crypto world could be largely borderless. This has turned out to be a bit of a pipe dream. It turns out that countries actually do matter when it comes to digital currencies, as they have the power of the law and the ability to regulate. It very much matters if an individual trader is located in China, where almost all…

Joint US-New Zealand Operation Confiscates $6.7M in Crypto of Movie Piracy Scheme

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The Criminal Proceeds Recovery Act, which was legislated in 2009 in New Zealand, has resurfaced in the news recently as the country’s authorities have been relying on it in an international operation with a crypto twist. As part of a joint operation, in the United States, the police has seized an estimated $6.7 million in cryptocurrency and $1.1 million in bank funds from a man after months of investigations of online movie piracy. Jaron David Mclvor, a software programmer, was living with a relative at the time of the arrest,…

What Bitcoin Futures Data Reveals About the Latest Price Crash

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The Commodity Futures Trading Commission on Friday released its latest Commitment of Traders report for the Chicago Mercantile Exchange. Futures are derivative products typically aimed at institutional investors looking to get exposure in cryptocurrency. Published weekly, the COT highlights which way traders are positioned in the market. Here is the latest report: The latest CME COT report. | Source: BitOoda The data may provide some insight into bitcoin’s latest tumble below $7,000. According to analysis from digital asset advisory firm BitOoda, a large drop in long positions is helping push…

Gladius Dissolves Ignoring SEC Order to Refund $12.7M ICO

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Distributed cybersecurity startup Gladius dissolved without complying with the United States Securities and Exchange Commission (SEC) to reimburse investors. The firm’s co-founder and chief technology officer Alex Godwin announced the dissolution of the company in a message sent to the project’s official Telegram group on Nov. 22.  “The company no longer has funds to continue” The message — collectively signed by the Gladius team — reads: “We regret to inform you that Gladius Network LLC has ceased operations effective immediately and has filed for dissolution. Despite our best efforts, the…

92% of Institutional Investors Keep Crypto on Exchanges

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Cryptocurrency institutional investors overwhelmingly keep their wealth on exchanges despite the inherent security risks, new data claims.  Compiled by cryptocurrency exchange Binance on Nov. 22, a survey asked 76 institutional investors who used its platform about their trading habits.  Exchange storage “most popular choice” The survey was part of Binance’s Institutional Market Insights research, which is now in its second edition. Among the most surprising results was that 92% of participants chose to keep their crypto — Bitcoin (BTC), stablecoins and others — with trusted third parties, and not under…

Insane Hong Kong Stock Bubble Makes Bitcoin Look Boring

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Hong Kong marble stock ArtGo plunged 98% in a day earlier this week, wiping out $5.7 billion. It’s the latest in a string of massive Asian stock bubbles including Kasen International and Tibet Water. Recent trading bubbles makes bitcoin’s ‘bubble’ look practically placid. One of the world’s best-performing stocks just took a 98% hammering when its over-inflated bubble popped. ArtGo, a marble company listed on the Hong Kong stock exchange, climbed 3,800% since January, then saw most of its value wiped out in a matter of hours. ArtGo saw 97%…