Day: October 8, 2020

ICO takes action against company for sending spam emails selling face masks during pandemic

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A company that sent spam emails selling face masks during the pandemic has been fined £40,000 by the ICO and issued with an enforcement notice. Studios MG Ltd, a London-based software consultancy, tried to exploit the public health emergency by sending up to 9,000 unlawful marketing emails to people without their permission. The emails were sent on 30 April in the midst of the pandemic. The ICO investigation found that the company was not involved in the business of supplying PPE, but that the director had decided to buy face masks…

BitMEX exchange operator shuffles leadership in wake of criminal charges

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The operator of crypto derivatives exchange BitMEX has announced a sweep of its top leadership, after United States authorities charged its founders with failing to prevent money laundering and operating an unregistered trading platform illegally.  On Oct. 8, BitMEX’s operator, 100x Group, announced that the exchange’s three co-founders, all of whom were charged in the case, will no longer hold executive roles at 100x: Arthur Hayes, Samuel Reed and Ben Delo. Greg Dwyer, the fourth executive to be charged, will take a leave of absence from his role as head of business development. To…

Chinese Wealth Management Company Lufax Files for IPO in U.S.

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Lufax will use the proceeds of the IPO for general corporate purposes. They include investment in product development, sales and marketing activities, technology infrastructure, capital expenditures, global expansions, and more. On Wednesday, Chinese fintech giant Lufax filed for an Initial Public Offering (IPO) in the U.S. According to the company’s filing, it is planning to list its American depositary shares on the New York Stock Exchange under the symbol “LU”. The size of the offering is not yet known but a placeholder amount is set at $100 million. Lufax said:…

Former Morgan Stanley exec joins Gemini crypto exchange

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Major American cryptocurrency exchange Gemini is expanding the company’s business in the Asia-Pacific region with a new high-profile hire. Andy Meehan, a former executive at major American investment bank Morgan Stanley, has joined Gemini as chief compliance officer of the APAC region. Announcing the news on Oct. 7, Gemini executives noted that Meehan will work with regulators to promote smart regulations that drive adoption. Formerly head of legal for Morgan Stanley’s global financial crimes division in the APAC, Meehan will now shape strategy, product and operations of Gemini in the…

How Bitcoin Is Making Online Slots More Accessible

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Transaction times are a major point of friction for gamblers around the world. Bitcoin transactions are instant, which means you’ll be ready to spend again as soon as you hit the cash out button.  With plenty of smartphone upgrades over the last few years, online slots have become more popular with consumers. This is likely because apps have made it easier to get involved compared to previously used clunky, unoptimized websites, but also because newer infrastructures such as 4G and now 5G have paved the way to easier use on…

TA: Ripple (XRP) Price Signaling Bearish Breakdown, Could Retest $0.235

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Ripple failed to stay above the $0.2500 pivot level and started a fresh decline against the US Dollar. XRP price is likely to continue lower towards $0.2380 or $0.2350. Ripple started a fresh decline after it struggled to clear the $0.2590-$0.2600 zone against the US dollar. The price is now trading below the $0.2500 support and the 100 hourly simple moving average. There was a break below a major contracting triangle with support at $0.2465 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is…

TA: Ethereum Consolidates Below $350: What Could Trigger A Sharp Decline?

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Ethereum is currently consolidating losses below the $350 pivot against the US Dollar. ETH price remains at a risk of a sharp decline unless it surges past $345 and $350. Ethereum traded as low as $333 and it is currently consolidating losses. The price is facing a major resistance near $345 and the 100 hourly simple moving average. There is a short-term rising channel forming with support near $336 on the hourly chart of ETH/USD (data feed via Kraken). The pair could nosedive if it continues to struggle below the…

Wrapped Bitcoin tops $1B after 900% increase in two months

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The recent DeFi bull-cycle has pushed the total value locked (TVL) of popular Bitcoin (BTC) tokenization protocol Wrapped BTC (WBTC) up by 900% to surpass $1 billion. The milestone comes four weeks after the TVL of all Bitcoin tokenized on Ethereum (ETH) surpassed $1 billion for the first time . The current TVL of tokenized Bitcoin is nearly $1.5 billion, of which WBTC currently represents one-third. Wrapped Bitcoin is now the fifth-largest DeFi protocol in terms of TVL, representing nearly 10% of the entire sector’s locked capital. WBTC’s TVL pushed…

KPMG unveils blockchain solution to track climate emissions

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International accounting firm KPMG has unveiled its blockchain based Climate Accounting Infrastructure (CAI) solution to help organizations measure, report, and offset their greenhouse gas emissions. CAI uses blockchain to securely store environmental data in a financial system as part of organizations’ climate risk assessments and asset valuations. It aims to help companies meet environmental, social, and corporate governance (ESG) targets. The solution integrates an organization’s existing systems, including IoT sensors, with external data sources to establish a verifiable trail of emissions and offsets recorded on blockchain. The accounting giant collaborated…