Ethereum (ETH) Price Smashes Support, More Downsides Possible

ETH price is under a lot of pressure and it recently broke the $202 support against the US Dollar. The price is likely to continue lower towards the $195 and $192 support levels in the near term. There are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but upsides are likely to be capped near the $210 level. Ethereum price is extending its decline versus the US Dollar and bitcoin. ETH…

SEC Charges Adult Entertainment Token Platform With 2017 ICO Fraud

The U.S. Securities Exchange Commission charged Jonathan Lucas, 27, the CEO of online adult entertainment marketplace, with running a fraudulent initial coin offering (ICO) scheme. According to the SEC’s lawsuit, the company claimed that investors could purchase its token and use them to request certain actions in a live adult performance on the platform. “Fantasy Market is a role-playing performance marketplace for live, client-controlled digital performances,” according to the company’s LinkedIn profile. “Through the use of our tokens, you control what the performers say and do during the show.” All…

Cisco Partners With SingularityNET on Decentralized Artificial Intelligence

Decentralized artificial intelligence (AI) firm SingularityNET and tech conglomerate Cisco have partnered to develop applied artificial general intelligence (AGI) technologies. AGI is one aspect of AI technology that concentrates on learning the intellectual tasks of which humans are capable. Sometimes referred to as “Strong AI,” AGI emphasizes a machine’s ability to reason in uncertain situations, solve puzzles, plan and communicate in natural language.  Goertzel also said that the scale of Cisco’s AGI deployments will be a major driver for the firm’s development, stating: “The work we’ve done with Cisco on…

Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours

Intercontinental Exchange’s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt’s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 per Bitcoin. Bakkt Bitcoin (USD) monthly futures contract. Source: ICE In an analysis for Cointelegraph earlier today, Rakesh Upadhyay wrote that the lukewarm reception to the Bakkt launch is likely due to the fact that the currency’s price…

Kik Shutting Down Popular Messaging App Due to ICO Legal Battle

Disclaimer: This report previously stated that Kik was only considering shutting down its app and has been updated following new information from Kik. The Canadian social media and messaging app company Kik is considering shutting down its popular Kik messaging app. 70 reported layoffs at Kin subsidiary  In a Sept. 23 article, Israeli tech publication CTech Calcalistit cites two anonymous sources at Kik, claiming that the Canada-based firm is considering closing down its messaging app.  A subsequent blog post by Kik CEO Ted Livingston confirmed the reports, stating that the…

Coinshares Urges Customers to Fight UK Regulator’s Ban on Crypto ETNs

The United Kingdom’s Financial Conduct Authority (FCA) is proposing to ban cryptocurrency exchange-traded notes (ETNs) — but Coinshares, a U.K.-based regulated public exchange, disagrees with that proposal. Claims of insufficient evidence  In a Sept. 23 letter on its website, Coinshares claimed the FCA has not provided enough evidence to justify the proposed ban on crypto ETNs — warning its customers that they will no longer be able to trade such products if the ban is approved. The company added:  “We believe that the FCA has not provided sufficient evidence to justify the…

SIX Swiss Exchange Postpones Launch of Blockchain-Powered Digital Exchange

Switzerland’s principal stock exchange, SIX Swiss Exchange, has postponed the launch of its “fully-regulated” cryptocurrency exchange SIX Digital Exchange (SDX). As Reuters reported on Sept. 23, a spokesperson familiar with the situation said that SIX moved the full launch of SDX to the end of 2020 primarily due to legal and regulatory issues. The exchange is reportedly still in negotiations with partner banks, the services of which it will offer on the platform. The spokesperson said: “Future releases will offer more functionality, with a particular emphasis on asset servicing, in…

Inverted Bitcoin Price Chart Is Bear Market Bottom Flipped Upside Down

During periods of times when assets consolidate and price action becomes exceptionally confusing, some crypto analysts will occasionally flip their Bitcoin price charts upside down in an to attempt to remove any preconceived bias from their technical analysis. One prominent crypto analyst has done just that, and Bitcoin’s current price action in inverse appears visually and structurally similar to the December 2018 bear market bottom, which could suggest that the current price action is a rally top and a powerful drop may be coming in the days ahead. Inverse Bitcoin…

IBM is Interested in Working on Facebook’s Libra Crypto

The cryptocurrency space has been on an impressive run this year and one of the biggest developments this year was the announcement of Facebook’s Libra, the social media company’s very own crypto token. It goes without saying that it was a huge announcement and caused a lot of noise in the crypto sphere. As is well known, Facebook (NASDAQ:FB) is heading the Libra project, but the company is going to be helped by many other firms. Key Development Today, it has emerged that tech giant IBM (NYSE:IBM) is apparently open…