Day: August 19, 2019

Ethereum Price (ETH) Trading Near Make-or-Break Levels

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ETH price extended its recent upward move and tested the $202 resistance against the US Dollar. The price is struggling to gain bullish momentum above the $202 resistance area. There is a short term ascending channel forming with support near $198 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline a few points, but dips remain supported near $198, $195 and $192. Ethereum price is showing positive signs above $195 versus the US Dollar, while bitcoin is up 5%. ETH price is likely to accelerate…

Judge Rejects Multimillion Dollar Asset Plea in Crypto Fraud Case

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A Supreme Court judge in British Columbia (BC), Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case. The defendants had filed to set aside an interim preservation order that was issued by the British Columbia Civil Forfeiture Office in order to prevent case-related assets from being sold or accumulating debt. Vancouver news daily The Province reported the ruling on Aug. 19. According to the report, the defendants, Lisa Angela Cheng and Kevin Patrick Hobbs, stand…

Huobi Wallet to Support MakerDAO Tokens, Decentralized Applications

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Major cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralized apps (DApps) in its wallet.  Huobi Group shared the announcement with Cointelegraph on Aug. 19. MakerDAO has a stablecoin called Dai, a token named MKR, and applications including CPD Portal. The Maker project is a combination of its stablecoin, collateral loans and community governance. MakerDAO is a type of decentralized autonomous organization (DAO), which is an organization that is managed solely by smart contracts and code, not human managers. A DAO is also operated by users via a…

Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure

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The Capital Market, Insurance and Saving Authority, a division of Israel’s Ministry of Finance (MoF), is looking to accelerate the process of procuring licenses for blockchain and fintech companies in the country. Israeli business news outlet Calcalist reported the development on Aug. 19. According to the report, the authority has launched dedicated industry teams, some of which specialize in blockchain companies.   According to the report, the authority is hoping to foster local competition by licensing more fintech companies. Moshe Barkat, who was appointed as the supervisor for the department back…

New York Court Rules That State Attorney Has Jurisdiction Over Bitfinex

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The New York State Supreme Court has ruled that the New York Office of the Attorney General (NYAG) has jurisdiction over cryptocurrency exchange Bitfinex. According to a court filing on Aug. 19, this will allow the NYAG to continue its investigation of the exchange over allegations of fraud and misleading investors.  In the filing, Judge Joel Coehn dismissed a motion by Bitfinex to terminate an action by the NYAG that would prosecute Bitinex under a New York law — the Martin Act. The NYAG originally alleged that Bitfinex and associated…

Secondary Market for Telegram Tokens Sees 400% Return for Investors

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Telegram’s eagerly awaited blockchain, Telegram Open Network (TON), is set to be launched on October 31. However, the yet-to-be issued tokens are already trading on an unauthorized secondary market. Purchase Agreement Does Not Allow For Resale Investors are already seeing returns as high as 400% on Telegram tokens, known as grams; however, secondary buyers run the risk of their investment being worthless, as a clause in the initial offering of grams prevents their resale in any way before the launch of TON. The company is also running on a deadline,…

Software Engineering Firm EPAM Joins Blockchain in Transport Alliance

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Software engineering and IT consulting services firm EPAM Systems Inc. has joined the Blockchain in Transport Alliance (BiTA) that develops blockchain practices and standards in the transportation, logistics and supply chain industry. According to a press release on Aug. 19, EPAM determined 21 real-world use cases of blockchain tech in industries such as life sciences, transportation, logistics, agriculture, consumer packaged goods, manufacturing and retail, insurance and healthcare. The BiTA will purportedly use EPAM’s software engineering expertise to further improve blockchain development and establish standards. Blockchain hype vs practical applications Commenting…

Binance iOS App Listed on Apple App Store After Delay for Review

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Major global crypto exchange Binance has got its iOS application listed on the Apple App Store. In a blog post on Aug. 19, the exchange announced that the Binance iOS App (V1.7.1) has returned to the App Store. Prior to the official announcement, Binance CEO Changpeng Zhao revealed the news in a tweet on Aug. 17, stressing that the process of getting listed on the App Store was tough and probably harder than getting listed on Binance, due to a number of rules and procedures. Delay complaints The app’s recent…

Israeli Bitcoiners Petition Banks to Disclose Crypto Policies

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The Israel Bitcoin Association, a nonprofit organization that promotes the use of Bitcoin (BTC) and cryptocurrencies, has reportedly filed a freedom of information petition with a Jerusalem court. The petition purportedly seeks to require local banks to disclose their policies on money originating from digital currencies.  Local news daily Globes reported on Aug. 19 that state banks are required to report reasons for refusing transactions to the country’s central bank, the Bank of Israel. The association previously reached out to Bank of Israel, asking for clarification on the cryptocurrency policies…

Crypto Custodian BitGo Hires Former Xapo Vice-President as CRO

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Digital asset trust and security company BitGo has appointed wallet provider Xapo’s former senior vice-president Pete Najarian as its new chief revenue officer (CRO). As finance-focused media outlet Finance Magnates reported on Aug. 19, Najarian will now serve as BitGo’s CRO, reporting to the company’s chief executive officer Mike Belshe. Commenting on the appointment, Belshe said: “Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building…