Category: Exchanges

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Telegram launched a 2018 token sale because it was “short on cash” to pay for servers, the U.S. Securities and Exchange Commission (SEC) said. The claim, made in the regulator’s latest document dump in its ongoing securities case against Telegram, shows for the first time the core of the SEC’s argument: that the token sale was merely a substitute for equity financing. At the time of the sale, Telegram framed it as financing for a next-generation blockchain that would be faster and more versatile than its predecessors. The documents released…

In June when Block.one, the company behind the largest initial coin offering (ICO) in history, announced its Facebook-challenging social network, Voice, it promised the blockchain would run on the EOS mainnet. Plans have changed. Voice is meant to be a new kind of social network, one with crypto built in and one that defeats bots by verifying the identity of every single account. The company went silent about Voice for months after the summer announcement but then, in December, it revealed a launch date for Voice of Feb. 14. With…

One of the oldest cryptocurrency exchanges in Scandinavia wants to go public later this year, hoping it will enable traditional investors to participate in “new finance.” Oskar Soderstrom, CEO of Stockholm-based BTCX, confirmed to CoinDesk that they are looking to deliver an initial public offering (IPO) before the end of Q3 2020. Corporate financial advisory firm Eminova Partners has been engaged to help file the offering, expected to take place in Sweden. “Our aim is to bring bitcoin to the masses and to bridge the gap between new and traditional…

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…

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.…

Civic’s Vinny Lingham joined us at the Digital Money Forum last week to talk about his new money transfer platform – a worldwide system that holds no funds but instead connects multiple money services businesses (MSBs) in a global network. The product, called Civic Wallet, will let users carry cryptocurrencies and fiat currency on their own devices and uses Civic’s facial recognition systems to secure the system. Because Civic holds none of the keys or currencies, the clients and MSB endpoints will use the wallet as a sort of piping.…

San Francisco Open Exchange unveiled Thursday its new “Separately Managed Account Solution” to help investors create their own crypto trading strategies. The service enables fund managers to manage individual securities in a single account for their clients in the traditional financial services industry. However, the company claimed the new service has not been available to those who invest in digital assets. According to a blog post from SFOX, the new service will allow fund managers to design and administer personalized crypto trading strategies for their clients. The company said crypto…

Amid increasing activity within the crypto derivatives market, software maker Trading Technologies (TT) announced Wednesday it would provide trading tools to users of leading crypto exchange, Deribit. Included in the suite are advanced order types, charting and analytics as well as access to a feature allowing users to create algorithms for bot trading. TT users eligible to trade on Deribit will be able to access all listed products, including bitcoin (BTC) and ether (ETH) futures, perpetual and options contracts. Dutch-based (for another month) Deribit, founded in 2016, is now the…

Patrick McDonnell was sentenced to 33 months in federal prison Thursday after pleading guilty to charges of defrauding investors in his crypto trading firm CabbageTech, otherwise known as Coin Drop Markets. McDonnell was also ordered to pay back his victims $224,352, according to the U.S. Attorney’s Office for the Eastern District of New York. Thursday’s sentencing caps McDonnell’s back-to-back legal fights with the federal government, which saw the 47-year-old New York resident in civil and then criminal court on fraud charges. He pleaded guilty in June 2019, a press release stated.…