Day: July 23, 2020

tZERO Platform Sees 1,500% Growth, Lists ASPEN Token

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Leading security token exchange tZERO has partnered with Aspen Digital Inc. to enable trade for Aspen’s digital security. The ‘ASPEN’ token, previously dubbed ‘Aspen Coin’, represents $18 million worth of indirect ownership in the St. Regis Aspen Resort — a five-star, 179-room hotel situated in Colorado. ASPEN’s listing on tZERO comes as the popularity of real estate tokens continues to show steady growth. RealT hosts 17 real estate token offerings Aspen Digital’s August 2018 token sale was widely considered to be the first real estate security token offering, with the…

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

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South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance said income from digital assets below 2.5 million won per year (around $2,000) will not be taxed. Annual earnings above this threshold will be taxed at 20%, it said. This puts crypto tax at the same level as other taxable income in…

LINK Rival — Band Protocol — Grows Stronger With ICON Partnership

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South Korea’s leading blockchain network ICON has announced a partnership with Chainlink rival BAND, which has gained a lot of momentum recently. The partnership will provide ICON developers with complete access to the BandChain decentralized oracle network to utilize various data and price feeds, according to the announcement. Decentralized applications and DeFi ecosystems rely on accurate price and data feeds, or oracles, to function. The Band Protocol is an emerging decentralized platform that aggregates and connects real-world data to smart contracts. ICON is deeply rooted in South Korea, shaping itself as…

Bitcoin Smashes Heavy Uptrend Resistance as Bulls Take Over Crypto Market

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Bitcoin gained around 2% and it broke the $9,500 resistance against the US Dollar. BTC is currently consolidating gains and indicators suggest high chances of more upsides above $9,600. Bitcoin is up close to 2% and it surpassed the key $9,500 resistance level. The price traded to a new monthly high at $9,568 and it is above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $9,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could…

IOHK and BeefChain Team Up to Answer ‘Where’s the Beef?’

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The team behind Cardano (ADA) blockchain, IOHK, have partnered with Wyoming-based BeefChain to utilize blockchain technology to improve food traceability and security. IOHK, which relocated to Wyoming in 2019, announced the partnership at the Cardano 2020 virtual event. Chief Commercial Officer Jerry Fragiskatos stated the solution will benefit both consumers and producers by tackling issues including food safety and recalls. The partnership will utilize DLT to standardize the tracking and recording processes for beef products along the supply chain from ranches to markets. BeefChain President Steven Lupien said it will…

One of Chainlink’s Competitors, Band Protocol, Secures Partnership With Top Crypto

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Over the past few weeks, crypto investors have largely focused their efforts and attention on a select set of players. These include Cardano and Chainlink — two altcoins near the top of the leaderboards that have gained hundreds of percent in mere months. But there are other projects that have rallied. Band Protocol, whose native token is BAND, has gained approximately 400% in the past month alone, with its token now trading at $5.00. It is a competitor to Chainlink, as both projects intend on accomplishing a similar goal of…

‘Intel is Suing Me Over My Own Name’

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John McAfee, the crypto enthusiast who once said he would ‘eat his own dick’ if Bitcoin did not surge to $1 million, claims that Intel is suing him over his privacy project Ghost.  According to a tweet posted by McAfee on July 23, the Intel corporation is suing him due to the use of the name “GhostbyMcAfee.” Ghost is a proof of stake coin designed for more anonymous blockchain transactions and the distributed exchange of the token went live on June 22.  McAfee’s claim to fame is as the creator…

T-Mobile Sued Over $8.7m Stolen in SIM-Swap Attacks

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Reggie Middleton, the chief executive of crypto company Veritaseum, is suing telecommunications provider T-Mobile for allegedly enabling the theft of $8.7 million worth of crypto in a series of SIM-swap attacks. According to filings published on July 22, Middleton was first targeted by SIM-swappers during July 2017. Despite immediately reporting the incident to T-Mobile, Middleton claims to have been the victim of four successful SIM-swaps over the rest of 2017, and further attacks during 2018 and 2019.  The suit accuses T-Mobile of having “abjectly failed” in its responsibility to protect…

Here’s Why the Binance CEO is Skeptical About Bitcoin’s “Safe Haven” Status

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Many believe that the next catalyst for Bitcoin’s growth will be its positioning as a “safe haven” asset that investors turn to protect their capital from shrinking due to inflation and economic turbulence. Although there’s no doubt that Bitcoin is fundamentally positioned to fit this role, it remains somewhat unclear as to whether or not it will fare well against a backdrop of an economic downtrend. In early-March, when the stock market saw a sharp selloff that spooked investors, Bitcoin’s price declined from highs of over $8,000 to lows of…

Japan’s Covid-19 Stimulus Payments Didn’t Flow Into Crypto

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In April, the Japanese government began distributing 100,000 yen payments — about $930 —  to every household. But did the Japanese follow some in the United States and spend that money in crypto exchanges? The data from the three major crypto exchanges in Japan suggests they probably did not.  In his latest report, Yuya Hasegawa, a market analyst at Bitbank exchange notes some “irregularities” in the month of June in terms of deposits but overall concludes that the coronavirus relief payments did not result in significant changes to the behavior…