A company that uses smart contracts to manage arbitration and dispute resolution around blockchain transactions announced on Jan. 17 its intention to list on the Main Market of the London Stock Exchange. Proof of Trust Ltd did not give any financial details or timetable for the listing, but CEO Dean Armstrong said that the company was excited at the prospect of the listing and “look[s] forward to providing investors with the opportunity to share in this groundbreaking project.” Insurance protocol for smart contracts and blockchain transactions The company describes its…
Day: January 17, 2020
Bitcoin Short Sellers Are in Big Trouble For This Reason, And Strong Rally is to Ensue
The bitcoin price is up by 10 percent in the past four days and after such a big rally, a short-term pullback follows. But, a top trader says it will take a lot for short sellers to hunt for longs in this environment, which could push BTC for an ever bigger rally. It will be hard for shorts to hunt longs, maintaining bitcoin momentum As one well-known trader pointed out, even if an investor longed bitcoin near the top in the $8,900 to $9,000 range, the liquidation price would likely…
Alethea to Launch Decentralized Network for Deepfakes and Synthetic Content
Alethea AI is launching a decentralized Synthetic Content Network to track the usage and intellectual property of AI-generated content. The company plans to offer a wide selection of content, including but not limited to face-swapped deepfake videos. Alethea is a production studio for AI-generated content, having previously released a video featuring Binance’s CEO Changpeng Zhao’s face in a martial arts setting. Other content includes a video on climate change, made to challenge the negative reputation of deepfakes. Synthetic content is often criticized for its potential impact on fake news. These…
Canadian Regulator Issues New Guidance for Cryptocurrency Exchanges
Canadian authorities have issued new guidance to determine which digital currency trading platforms fall under derivatives law. The Canadian Securities Administration (CSA) explained new provisions in the “Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets” published on Jan. 16. In general, the agency drew a line between trading platforms that make an immediate delivery of a crypto assets to its users, and those that hold the transaction of crypto assets until the user makes a later request. To what exchanges do securities laws…
Tron to Include Zcash-Based Privacy Features, Announces Trusted Setup Ceremony
Tron (TRX) is set to feature zero knowledge-based privacy through the work of the TRONZ team. A trusted setup ceremony is set to be conducted soon, which Tron claims in a Jan. 17 blog post will “set a new Guinness World Record.” TRONZ is a privacy initiative that is set to integrate Zk-SNARKs, the core privacy technology of Zcash (ZEC), in the Tron blockchain. While the team claims its implementation is the “most efficient, and least resource-consuming privacy protocol in the world,” no technical details were released. Built with the…
Bitcoin Falls Back After Briefly Breaking $9k Resistance
View Bitcoin has all but erased the day’s gains after pushing past the $9,000 resistance level this morning. A significant move back above $9,000 could trigger liquidations and a possible short squeeze across the market. Other cryptocurrencies continue to recoup losses from late 2019. Bitcoin’s bulls have failed to make a solid move above $9,000, having briefly topped the level earlier on Friday. After an indecisive Thursday, prices started their rise during the Asian trading day. Based on CoinDesk’s Bitcoin Price Index, the top cryptocurrency by market cap moved from…
New Hampshire’s Second Bill to Accept Bitcoin as Tax Payment Fails
Lawmakers in the New Hampshire state legislature have killed a bill that would have allowed state agencies to accept cryptocurrencies as payment for taxes. On Jan. 8, the New Hampshire House of Representatives announced a decision to retract the bill, following a motion from the General Court’s Executive Departments and Administration Committee to deem the initiative as “inexpedient to legislate.” Bitcoin’s volatility was too high for state budgets According to public records, authorities considered the bill ineffective due to the high volatility of cryptocurrencies like Bitcoin (BTC). If the bill…
Libra Association Forms Steering Committee to Guide Technical Development
The Libra Association — the government body of the eponymous stablecoin introduced by Facebook in late 2019 — has formed a new committee to guide the network’s technical development. According to an announcement on Jan. 16, the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms in the fintech and blockchain industries. The members are: Calibra core product lead George Cabrera III, Anchorage co-founder Diogo Monica, Union Square Ventures partner Nick Grossman, Bison Trails CEO and founder Joe Lallouz, and Mercy…
CME Bitcoin Futures See Open Interest Surge as Global Volume Hits $25B
Bitcoin (BTC) derivatives trading looks set to reach record levels this month as volume spikes and open interest hovers near all-time highs. Data from CME Group shows that as of Jan. 16, open interest for its futures products alone totaled 5,328 contracts — or 26,640 BTC ($237 million). Open interest on track for record The figure is higher than any monthly close CME has seen since it debuted in December 2017, with July 2019 currently in the lead with 5,252 contracts. Open interest did surpass current levels earlier in January,…
Binance in Talks to Launch Crypto Trading Joint Venture in Japan
Crypto exchange Binance is eyeing the launch of a new trading platform dedicated for the Japanese market. According to a blog announcement on Thursday, the firm said it is discussing a strategic partnership with Z Corporation and existing Japan-based exchange TaoTao to work together to provide “trading services” in the country. Z Corporation is a wholly-owned subsidiary of Z Holdings Corporation, itself a subsidiary of Tokyo-based multinational Softbank (formerly Yahoo Japan). The three firms would harness Binance’s technologies in order to build out the new service, according to the announcement.…