Grayscale Bitcoin Trust (GBTC) has obtained approval from the U.S. Securities and Exchange Commission (SEC) to become a reporting company, thus registering the company’s shares with the Commission. World’s Largest Crypto Asset Manager Now SEC Reporting Coy Grayscale Investments, the parent company of GBTC announced the news of the SEC approval via a press statement issued on Tuesday (January 21, 2020). According to the press release, the SEC approved GBTC’s ‘Form 10’ application filed back in November 2019 thus making the Trust a reporting company. Following the approval, Grayscale Bitcoin…
Day: January 22, 2020
SEC Calls Out Status of Telegram’s TON, Doubting Development
In the latest from U.S. Security and Exchange Commission’s (SEC) ongoing lawsuit against Telegram for its offering of Gram tokens, the commission bashes the messaging service’s blockchain and related token. In a lengthy filing with the court of the Southern District of New York the SEC responded to Telegram’s earlier motion for summary judgment. In it, the SEC disparaged the Telegram Open Network (TON) — Telegram’s blockchain — as well as the operation’s Gram (GRM) token. “Telegram Has Put Forth No Evidence Regarding the TON Blockchain’s State of Development at…
SEC Calls Out Status of Telegram’s TON, Doubting Development
In the latest from U.S. Security and Exchange Commission’s (SEC) ongoing lawsuit against Telegram for its offering of Gram tokens, the commission bashes the messaging service’s blockchain and related token. In a lengthy filing with the court of the Southern District of New York the SEC responded to Telegram’s earlier motion for summary judgment. In it, the SEC disparaged the Telegram Open Network (TON) — Telegram’s blockchain — as well as the operation’s Gram (GRM) token. “Telegram Has Put Forth No Evidence Regarding the TON Blockchain’s State of Development at…
Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block Rewards
A group of Bitcoin Cash mining pool operations have decided to help fund BCH infrastructure development. On January 22, Btc.top founder Jiang Zhuoer revealed that five mining pools are preparing a short-term developers donation plan. Miners from Btc.top, Bitcoin.com, Viabtc, Antpool, and Btc.com plan to give “12.5% of [the] BCH coinbase rewards to a fund that will support Bitcoin Cash infrastructure.” Also Read: Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash Btc.top Founder Announces Bitcoin Cash Development Fund Lately, there’s been discussions regarding funding BCH infrastructure development.…
Jack Dorsey’s Square Awarded Patent for Real-Time Crypto-to-Fiat Swaps
Financial services and mobile payment company Square thinks it has found a way to turn fiat into crypto in real-time point-of-sale transactions. How it works On Jan. 21, the United States Patent Office awarded Square a patent for a technology that the team argues cracks a present barrier in merchant transactions: “All cryptocurrencies face the same drawback in that they are not widely accepted. Presently, cryptocurrencies, like bitcoin, are not accepted by most retail merchants, or even by most online merchants.” The team cited a number of drawbacks to current…
Is Samsung About To Partner With This Crypto Startup?
It’s funny what business leaders can and can’t tell the press. Cointelegraph caught up with Alexander Drummond, co-founder of crypto-enabled payments company GatePay, at the 50th edition of the World Economic Forum in Davos, Switzerland this week. Drummond was one of several crypto entrepreneurs presenting his company on stage at the CV Labs event on Tuesday. Drummond’s pitch for GatePay goes something like this: retail customers should be able to pay for products with any means of exchange they want, and retail stores should be able to handle it. Offering…
Federal Judge Orders Kik Technical Advisor to Sit for Deposition With SEC
Kik technical advisor Tanner Philp must be deposed by the Securities and Exchange Commission (SEC) related to the company’s 2017 kin token sale, elongating the discovery process in the messaging app’s battle with federal regulators. The agreement was made Wednesday before District Judge Alvin K. Hellerstein in the U.S District Court for the Southern District of New York. Overseeing the latest motion for discovery in this $100 million ICO standoff, Judge Hellerstein initially ruled that Kik CEO Ted Livingston should appear for a deposition, but attorneys for both sides appeared…
Square Wins US Patent for Fiat-to-Crypto Payments Network
Square, the payment services provider founded and run by Twitter’s Jack Dorsey, has won a US patent to launch a new network that enables crypto-to-fiat transactions. Square was founded in 2009 by Jack Dorsey and Jim McKelvey in their hometown of St. Louis, around the same time as Dorsey’s other company, Twitter (NYSE:TWTR), was beginning to take off. In the intervening year, Square’s white payment terminals have become synonymous with the advent of contactless payment. The new patent covers a payment system that allows users holding different assets to transact with…
Here’s Why Bitcoin Short Positions Could Be in Dangerous Territory
Bitcoin and the aggregated crypto markets have been caught within a firm bout of sideways trading since this past Saturday, with this lack of decisive momentum making it incredibly unclear as to where the markets will head next. In spite of this, Bitcoin has been able to hold above multiple key levels, leading some analysts to question why many traders are so keen to short the cryptocurrency. It is important to note that a sustained hold above these levels could mean that a rally back towards BTC’s local highs is…
Why High-Profile Defections Aren’t Libra’s Biggest Challenge
Libra has lost another Association member, but according to @nlw that’s likely low on its worries list, plus Square’s LN efforts & TON’s SEC support. News broke yesterday the Libra Association had seen its eighth high-profile defection, this time from the telecom giant Vodafone. In today’s episode of The Breakdown, @nlw argues Association membership is far less of a factor in Libra’s success than key regulatory questions around domiciling, the value peg and the U.S.’s fear of a Chinese digital currency. Also in this episode, Square Crypto announced its plans…