Trump Crypto Fraud Task Force

Trump crypto fraud task force: Earlier this year, the United States government revealed that it was looking at cryptocurrencies, with a particular focus on market fraud, and that it was developing a “comprehensive” strategy around virtual currencies. Now in the second half of the year, the US government is diving even further into the crypto industry. On Wednesday, July 11th, President Donald Trump signed an executive order, giving officials the final go-ahead they needed to create a consumer fraud task force. Further, alongside targeting other areas, the new Trump task…

Report: More Than Three-Quarters of ICOs Were Scams

About half of the existing crypto-asset market today – numbering some 1,500 – functions on top of an existing blockchain like ethereum, according to a new report. The study from Satis Group, which forms part of a five-entry series analyzing the state of the cryptocurrency ecosystem, explores the state of what it calls “platform networks,” honing on ethereum as well as other blockchains like NEO, EOS and Cardano, among others. In looking at the “market share” of those platforms, it’s perhaps not surprising that ethereum constitutes the bulk of that figure…

Binance Exchange Backs First-Ever Decentralized Bank in Malta

Binance, one of the biggest cryptocurrency exchanges in the world, is reportedly among a number of investors backing a decentralized bank to be launched in Malta. Bloomberg reported Thursday that Binance had confirmed it has acquired a 5 percent stake in the so-called Founders Bank at a €133 million euro ($155 million) pre-investment valuation. Founders Bank will have systems based on blockchain technology and will partner with fundraising platform Neufund in an issuance of its own “legally-binding” equity tokens, according to Binance. The bank is hoping to obtain a license from…

Bitcoin Price Puts Bull Move on Hold as Downside Risks Grow

Bitcoin (BTC) traded largely sideways over the last 24 hours, though a dip soon before press time may threaten a developing bullish chart pattern if the price moves below $6,000. BTC’s drop below the 10-day moving average (MA) on Tuesday neutralized the immediate bullish outlook and shifted risk in favor of a sell-off to $6,000. However, the cryptocurrency defended $6,300 yesterday amid intraday oversold conditions, establishing the round figure as a key short-term support. But, the resilience failed to entice bulls, rather a long liquidation (unwinding of long BTC trades)…