Microsoft, Intel Back Ethereum-Based Token to Reward Consortium Efforts

The Enterprise Ethereum Alliance (EEA), the consortium charged with creating standards for businesses to build applications using the ethereum blockchain, has created a system of reward tokens to incentivize groups of companies. The system is backed by Microsoft and Intel. Showcased Tuesday at Devcon 5, the annual ethereum developers conference being held in Osaka, Japan, the so-called trusted reward token is a way of accruing and calculating rewards for active participation in a consortium. Michael Reed, who manages the blockchain program within Intel’s software and solutions group, explained there are…

QuadrigaCX Founder’s Widow Will Cough Up $9 Million to Repay Users

Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly $9 million ($12 million CAD) in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange. Robertson announced the move in a statement on Monday, saying since her husband’s death late last year, she had “made every effort” to assist in the recovery of QuadrigaCX’s assets.  The exchange folded earlier this year, after Robertson and other Quadriga-affiliated entities realized they did not have access to the company’s cold wallets, and therefore could not access any of…

Tim Cook Talks Cryptocurrencies | It’s a No for Tech Behemoth

Three months ago, Facebook (NASDAQ:FB) disclosed plans to roll out a cryptocurrency in the summer of 2020. Such news has made several headlines, with the latest being negative, as PayPal (NASDAQ:PYPL) might pull out of Facebook’s project. Even worse for the technology behemoth is that Apple (NASDAQ:AAPL), another tech giant, has expressed zero desire in following in the company’s footsteps, according to Tim Cook. Which brings forth the question: is it correct for Facebook to involve itself with virtual currencies? Here’s what we know about Apple’s latest comments. Tim Cook Talks…

Crypto Traders’ Lawsuit Claims Bitfinex, Tether Cost Market Over $1 Trillion

A new lawsuit claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market, harming traders and benefiting themselves. Bitfinex and a number of affiliated entities engaged in deceptive, anti-competitive and market-manipulating practices, resulting in economic damages for the plaintiffs, according to a lawsuit filed Sunday in New York. Notably, the plaintiffs, who seek class-action status, claim that the total damages add up to more than $1 trillion, writing: “Calculating damages at this stage is premature, but there is little doubt that the scale of harm wrought by…

CoinFlex to Offer ‘Prediction Futures’ on Whether Libra Launches in 2020

A crypto derivatives exchange is launching physically-delivered futures contracts that will be settled based on whether Facebook’s Libra does or does not launch in 2020. According to Bloomberg’s report on Oct. 7, the new offering is slated for launch by the Seychelles-registered CoinFlex exchange via an “Initial Futures Opening” (IFO) on Oct. 24. The IFO concept: betting on tokens that don’t exist yet CoinFlex’s IFO will set the price of a futures contract at 30 cents — reflecting a roughly 30% likelihood that Libra will launch by December 2020. The…

Bitcoin Bounces Back to $8K from Historically Strong Price Support

View Bitcoin has again bounced up from the 100-week moving average – a level which has acted as strong support in the previous two weeks and during the early stages of the previous bull market. The defense of the 100-week MA coupled with the oversold conditions on the daily chart suggests scope for a recovery rally to $8,500. The case for a bounce would weaken if prices find acceptance below the support level, currently at $7,753. That could pave the way for a slide to $7,200. Bitcoin (BTC) has again…

Coinbase in Talks to Acquire Rental Startup Omni’s Engineering Staff: Report

Cryptocurrency exchange Coinbase is said to be in talks to acquire the human assets of Omni, a Ripple-backed rental and storage firm. According to a report from TechCrunch this weekend, Coinbase may grab Omni’s engineering team to further develop its Coinbase Earn product. Coinbase told the tech news site no deal is on the table currently, however. The acquisition comes amidst layoffs for the rental company, which let seven members of its operations staff go last week. The engineering team has also received interest from Thumbtack, a marketplace for professional services.…

Hyperledger Blockchain Group Weighs Changes to Fix Election Issues

The Hyperledger blockchain consortium’s technical steering committee (TSC) is discussing potential changes to its elections in hopes of boosting voter turnout. On Wednesday, Arnaud Le Hors, a blockchain staff member at IBM and TSC chair for 2019-2020, placed on the committee’s agenda five proposals to spread awareness and encourage participation in the annual elections. The suggestions came from Hyperledger executive director Brian Behlendorf, who had sent them to the TSC mailing list. The proposals were added to a backlog of agenda items concerning governance, including a motion to add four seats…