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Showing posts from April, 2019

Bitfinex Letter to Users Says NYAG Accusations ‘Filled With Inaccuracies'

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Bitfinex has stated that recent allegations by the state attorney for insolvency of the stock exchange "full of inaccuracies and false claims." This exchange was asserted in the letter Cointelegraph sent to Bitfinex users on April 27 The letter was signed by Jean-Louis van der Velde, general manager of the exchange. The letter states that the documents filed against the exchange do not represent civil or criminal charges and states: "In particular, we want to convince you that the claim that we" lost "$ 850 million is categorically wrong." The exchange further explains that these assets are confiscated and protected in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States. Also, the company also claims to actively work on releasing these funds and is convinced that it can make a convincing case. Besides, Bifinex emphasized: "And be assured that we will strongly challenge the False Claims of the Stat

Digital Currency in Crimea Proposed to President of Russia

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Russian president's advisor suggested adopting digital currency at Crimea to attract investors and avoid sanctions, the local TASS news agency reported on April 19th. Sergey Glazyev, Russian President Vladimir Putin's advisor on regional economic integration, urged the government to adopt "digital currency technology" to reduce "cross-border obstacles," an official at the International Economic Forum in Jalti said. According to Mr. Glazy, the adoption of digital currencies will "significantly reduce cross-border barriers" and will attract foreign investors "who are afraid of sanctions," which are "usually carried out through banks." The official said that digital currency, such as stable coins, linked to gold or other material assets, can "cross the border and can not be prevented by sanctions." Mr. Glaziz further proposed the creation of a "stable digital chips," whose cost per square meter in the

Chinese Openly Listed Construction Company Turned Mining Firm Lost Over $23 Million

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A listed Chinese building company turned to a cryptocurrency mining company, Huatie HengAn, allegedly sold after its value dropped by more than 90 percent. The development was reported on 19th April 8btc, crypto-target local media in English. The company would be sold for about 12 million yuan ($ 1.8 million) after its value fell to 170 million yuan ($ 25.3 million) in less than a year. According to the report, Huatie HengAn began as a subsidiary of the parent company Huatie and claimed to be primarily engaged in providing cloud computing services. Nevertheless, 8btc notes that, according to financial reports, the company's main business is exploiting the cryptocurrencies, since in 2018 it bought 36,500 machines in Avalon and Ebang. Although the report invokes machine servers, manufacturers are well known for producing integrated circuits that are specific to exploiting cryptocurrencies and do not produce servers in the traditional sense of the term. 8btc says the company&

Blockchain Platform Thinks It Is the ‘Golden Ticket’ for Saving the Live Events Industry

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The new blockchain platform says it has brave plans to transform the event industry - eliminating intermediaries to reduce costs for organizers, developers, artists, suppliers, and consumers. Evedo says the "lack of innovation" in the organization of the event had a significant impact on the scalability of the sector. A multitude of platforms is often used to revive concerts and conferences, leading to unnecessary delays and sometimes costly mistakes. Also, start-up claims that the sector is saturated with brokers who often charge high fees but "do not add value to the process," which sometimes leads to "significant loss and loss." In its white book, the company illustrates the specific consequences of fragmentation of this sector. Ticket prices may grow due to secondary black markets, inefficient systems can lead to duplication of tickets, paying top talent may be postponed, and organizers may be struggling to find a place to search for new places

Expert Says Official Chinese Currency Renminbi to Become Cryptocurrency

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Donald Tapscott, executive director of the Blockchain Research Institute, said the Chinese official currency, the renminbi (RMB), would become a cryptocurrency, in an interview for Bloomberg on April 17th. In a conversation, Tapscott discovered that he recently attended a meeting with Vice President of the Communist Party of China, who recalled that President Xi Jinping believed that blockchain was one of the most important technologies of the country's future. Speaking of the government's ban on trading cryptocurrencies, Tapscott said China plans to ban the cryptocurrency, adding: "It is not necessary to prohibit trade and mining because we will no longer use Bitcoin in China for 20 years." The Chinese will use RMB; the only RMB will become crypto valued. "China's central bank will make digital currency." Asked if decentralized exchanges could work in China - which had previously banned the initial coin offer (ICO) - Tapscott, they could d

Once Coinbase Exec Appointed Head of Sales and Marketing at Fidelity

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According to a statement released on April 10, Fidelity Digital Assets, the Digital Trading and Holding Platform, appointed former Executive Director for Coinbase as Director of Sales and Marketing. Christine Sandler, former head of institutional sales at Coinbase, the leading American cryptocurrency exchange, joined Fidelity as a sales and marketing manager. As such, Sandler would drive the expansion of Fidelity Digital's assets to new markets and assume responsibility for institutional customer service. Sandler also worked as the head of electronic shares sales in America at Barclays Investment Bank and Executive Vice President and Global Sales Manager at NYSE Euronext. She also served as the sales and sales manager for Merrill Lynch and worked as a quoted buyer. Fidelity digital assets have been put on the internet in early March, with a selected customer group. The company stated that "we are living with a select group of eligible customers and we will continue to

France Announces Bill to Allow Insurance Providers to Invest in Cryptocurrency and Tokens

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The French insurance market can now invest in cryptocurrencies after the adoption of a new law, FX Exchange news agency reported on April 11th. On April 11, the French People's Assembly passed a law stimulating the development of local businesses, including redirecting savings from individuals to businesses, local news agency Les Echos said. According to Reuters, the National Assembly voted 147 votes in favor and 50 votes. Known as the "Action Plan for Growth and Enterprise Transformation" (Pact), this law would allow French insurers to invest in cryptocurrencies like Bitcoin (BTC) without limiting investment. According to FXStreet, the dual clause of the law allows insurers to invest in cryptography through specialized professional funds and enables them to offer shelter life insurance exposed to crypto. The new measure will also affect professional investment funds. Joel Giraud, deputy, and director of the budget of Emmanuel Macron, the Republic of March,

USA SEC’s suggestion to cryptocurrency and Blockchain was by Criticizes Libertarian Think Tank

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John Berlau, a leading member of Liberty Research Institute of the Competitive Enterprise Institute, has criticized the US Securities and Exchange Commission (SEC) in regulating the currency cryptocurrency. Berlin presented its comments in a report published on April 11th. In a report titled "Cryptocurrency and Unlimited Power of SEC: Why Speculative Consumer Goods are not" Value," Berlus has argued that blockchain technology and cryptocurrency are currencies of transformational innovation, whose potential is difficult by" severe regulation." Berlusah said that "among federal financial regulators, no one is threatened by crypts and related block-technology technologies than the Securities Commission." He said government action against technology prevents entrepreneurs from experimenting with new approaches and applications. Berlau further argued that reviewing DIP could jeopardize the functionality of blockchain technology if the Cryptocurren

San Francisco-based Thor Token Project Shuts Down

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The San Francisco-Thor Token project will soon be completed because the project "was unable to gain ground and achieve commercial success." The news was announced by Thor's co-founder and chief executive officer David Chin on April 9th. Thor - a Neo-based company (NEO) - has announced its closure, cannot collect enough capital to face the shortage of sales and find a new place where it could have more resources. Chin found in his message that the company was trying to find the right person or entity who would entrust Thor's project permission to continue, but currently did not find anyone to buy. Chin further stated: "Thor will cut off its business in the near future as no other financing or purchase offer has been found. [...] All Thor's code and products remain open-source software that the community can use, modify or expand for their benefit." In the last few months, various digital currency projects have closed. In December last year, a l

QuadrigaCX Canadian Cryptocurrency Exchange Officially Declared Bankrupt

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QuadrigaCX, the leading Canadian currency exchange center, was officially declared bankrupt, CBC reported, CBCG reported on April 8th. Bankruptcy Quadrige today would be approved by Supreme Court Judge in New Scotland Michael Wood and followed by the recommendation of Judge Ernst & Young (EC) that it should be declared bankrupt earlier this month. The EC legal team subsequently argued that in the process of restructuring QuadrigaCX under the CCAA, it would have to move to an alternative process under the Insolvency Insolvency Act (BIA). The decision now gives the EC enhanced investigative powers as a BIA agent, which means that a company may require the production of documents and witness testimony. Today Wood has set up a so-called EC property protection mandate extending to all property owned by Jennifer Robertson - the wife of former co-founders Quadrige, Gerald Cotten - and Cotten. The command prohibits Robertson from selling, retrieving, and transferring property

Bitcoin Is Back In the Picture

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Co-founder Fundstrat Global Advisor Thomas Lee said Bitcoin (BTC) was again in the Bloomberg interview on April 5th. During the interview, Lee pointed out that Bitcoin critics have declared crypto-currency dead because it lost 90% of its value. However, he has now exceeded the 200-day moving average, which is why he thinks that feelings need to change and that BTC is currently on the bull market. Lee noted that Bitcoin formed a tail in the wind this year because the dollar was not growing, and the Chinese multiplier of the stock increased. Lee also noted that there is evidence that so-called whales - investors holding large amounts of cryptocurrencies - began to accumulate more cryptocurrency. He said: "Many of them sold, in early 2018, some dry powder, started to put it into work." As Cointelegraph mentioned in March, Thomas Lee earlier told the CNBC that he thinks the bull's brand could be back in six months, pointing to an indicator of a 200-day moving avera

Officials In South Korean Consider Revision of Existing Cryptocurrency Regulations

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South Korean officials are considering revising the existing regulatory framework for the digital currencies, local media ZDNet Korea announced on April 4th. Speaking at a Deconomy conference in Seoul, senior government officials said the country needs to re-evaluate the cryptocurrencies policy to facilitate the growth and maturity of the cryptocurrency market. One official stressed the importance of creating a place where industry, financial institutions, and organizations associated with the government could communicate and jointly develop relevant guidelines. Song Hee-kyong, the co-chair of the Fourth Industrial Forum of the National Assembly, said: "The government misunderstood the virtual currency and tried to meet the standards of real money, so it has a lot of problems, and the industry does not wait until the sandbox approve it, as if we were holding it in its box." Lawmakers, as reported, have confirmed their willingness to promote the blockchain industry, a