Month: March 2020

Crypto Donation App BABB Waives Fees For Coronavirus Fundraisers

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Crypto wallet banking and donation app BABB has announced the debut of its top-up function, a fee-waiving cash-out policy for COVID-19 fundraisers on its platform. According to the announcement, the company has also added a fiat gateway that every Android and iOS user will have access to. BABB clarifies that as long as the users pass the Know-Your-Customer verifications, they will be eligible. That said, customers who have not previously used BAX tokens or who are not familiar with trading or exchange platforms will be able to buy the BAX…

Solana and Chainlink Team Up To Build A Crazy Fast Oracle

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Blockchain platform Solana has joined up with decentralized oracle solution Chainlink to construct an oracle that updates incredibly quickly.  “We recently saw market failures due to congestion on Ethereum, including oracle failures,” Solana CEO and founder Anatoly Yakovenko told Cointelegraph in an interview, adding:  “What we’re building with Chainlink is a high-frequency oracle that can give a price update every 400 milliseconds — and because of our capacity, we shouldn’t see those kinds of market failures on our network. It’s solving a fundamental problem that we see in the decentralized…

Texas Regulator Warns of New Crypto Frauds Amid Coronavirus Outbreak

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The Texas State Securities Board (TSSB) has issued a warning on March 23 about crypto scams that have emerged in the wake of the COVID-19 pandemic. The report refers to different types of scam, among which are those related to crypto investments that promise high returns in the midst of the coronavirus crisis. Coronavirus-related scam methods Among other scams, one of the most common is called “pump and dump.” The sceme consists of fraudsters who, based on penny stock purchases, try to boost prices by sharing “positive” information that turns out…

Crypto.​com Simplifies Crypto Tax Reporting for Its Users

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Payments and cryptocurrency platform Crypto.com has simplified cryptocurrency tax reporting for its users through a new partnership with three tax providers. On March 24, Crypto.com announced the collaboration with crypto tax calculator CoinTracker, crypto tax software platform TokenTax and crypto tax reporting firm CryptoTrader.Tax. Now, Crypto.com’s users can import their historical crypto transactions from the platform into one of the aforementioned tax reporting platforms to generate necessary tax reports. Users then can pass the forms along to a tax professional or transfer to tax filing software for further processing. A…

Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

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Cryptocurrency exchange Bitfinex deployed its proprietary market surveillance tool to combat market abuse on the platform called “Shimmer.” According to an announcement shared with Cointelegraph on March 24, Shimmer is meant to identify and investigate possible manipulative behaviours and suspicious trading on Bitfinex. The exchange expects that the integration of the tool with its matching engine will improve market integrity and visibility. Bitfinex’s team will be warned about suspicious trading Now, Bitfinex’s team will be alerted via email when potential improper trading activity is detected on any of the exchange’s…

Pioneering Crypto Bank Launches CHF-Backed Stablecoin

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Pioneering Swiss crypto bank Sygnum unveiled a stablecoin pegged to the Swiss franc on March 20. Sygnum’s ‘DCHF’ “settlement token” is backed 1:1 by funds held with the Swiss National Bank. According to local media outlet Swissinfo, DCHF is under consideration for support from the forthcoming SDX digital assets trading platform from SIX Group — of which Sygnum is a member. Swiss crypto bank announces CHF-pegged “settlement token” The crypto bank aims to target institutional clients with its stablecoin, emphasizing that the coin enables fast and frictionless settlements alongside novel…

Bitcoin (BTC) Soars 10% on Strong Momentum

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The coronavirus pandemic has had a highly damaging effect on the capital markets, and eventually, the effect was felt in other asset classes like cryptocurrencies as well. While this did affect the world’s biggest cryptocurrency, Bitcoin has made a remarkable recovery over the past 24 hours. BTC gained 10% in the last 24 hours, and the total value of the entire crypto market soared by $14 billion. Bitcoin was trading at $6,580 this morning in Singapore, and it seems likely that the cryptocurrency is going to be in focus among…

Robinhood Looks to Win Back Users Angry Over System Outage on Historic Market Day

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Crypto and trading app Robinhood has begun taking action to reconcile with users affected by technical problems that sidelined them during the biggest one-day point gain in the history of the Dow Jones Industrial Average. On March 23, Robinhood reportedly emailed affected users to apologize for the incident and demonstrate its intention to rebuild customers’ trust in the form of credits, with the dollar amount to be determined on a case-by-case basis. Will users get reimbursement? A spokesperson for Robinhood told Cointelegraph that after reviewing customers’ emails and accounts, Robinhood…

Game Development Companies Team Up with Blockchain Operation Forte to Unlock New Business Models for Games

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Sharing is caring! Forte has teamed up with legendary game developers Hi-Rez Studios, Netmarble, Magmic, nWay, and DECA Games to integrate Forte’s open and easy-to-use blockchain platform into their game ecosystems. This will unlock new economic and creative opportunities for both the developers and their player communities. Disruptor Beam, Other Ocean, and Kongregate are a few other game developers already on board. ~ advertisement ~ Through its $100M developer fund via Ripple, Forte is providing grants to qualifying game developers to integrate blockchain technology into both existing games, as well…

United States CFTC Cements Parameters for Physical Delivery of Traded Crypto

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The U.S. Commodity Futures Trading Commission, or CFTC, has publicized clarity on physical digital asset delivery as it applies to traded market products.  “The Commodity Futures Trading Commission today announced the Commission voted unanimously to approve final interpretive guidance concerning retail commodity transactions involving certain digital assets,” the Commission said in a statement provided to Cointelegraph, adding: “Specifically, the guidance clarifies the CFTC’s views regarding the ‘actual delivery’ exception to Section 2(c)(2)(D) of the Commodity Exchange Act (CEA) in the context of digital assets that serve as a medium of…