Former Overstock CEO Sells His Entire 13% Stake in the Firm for $90M

Former Overstock CEO Patrick Byrne has sold his 13% stake in the firm for $90 million to move to gold and crypto trading. Byrne sells his entire Overstock stake in 3 days Byrne, who resigned from Overstock on Aug. 22, cashed out nearly 4.8 million Overstock (OSTK) shares, which accounts for more than 13% of the company, American financial publication MarketWatch reported on Sept. 19. According to a filing with the United States Securities and Exchange Commission (SEC), the former Overstock CEO was selling his shares at lower and lower…

United Arab Emirates Ministry of Health Launches Blockchain System

United Arab Emirates’ (UAE) Ministry of Health and Prevention (MoHAP) launched a blockchain system for recording and sharing information of healthcare workers in health facilities. The official news agency of the UAE reported the development on Sept. 18, noting that the system aims to improve data integrity. A healthcare data sharing solution Per the report, the platform will “save and share the assessment information of health professionals, including doctors, pharmacists and technicians with local licensing health authorities.”  Assistant under-secretary of the Support Services Sector, Awad Saghir Al Ketbi, offered some…

Ethereum Tests 25% Capacity Increase as Network Fees Hit Bitcoin Level

Ethereum network participants are attempting to raise the network’s block size as a direct response to network congestion. Gas limit on course to become 10 million per block As various parties including co-founder Vitalik Buterin confirmed this week, testing is currently underway to improve network performance and reduce transaction fees.  “Given the current #Ethereum network congestion we have started to test raising the block gas limit to 10M gas,” mining pool Bitfly tweeted on Sept. 14. The move follows considerable upticks in Ethereum network usage, largely due to stablecoin Tether…

Bitcoin Price Dips to $9.6K as Bear Cross Looms

View BTC quickly fell to $9,600 this morning, bolstering the bearish setup on the 4-hour and daily charts. A deeper drop to key support at $9,454 may now be in the offing. A UTC close below $9,450 would confirm a downside break of a three-month-long contracting triangle and expose the 200-day moving average (MA) support lined up near $8,100. A move above $10,458 is needed to negate the immediate bearish case. A UTC close above $10,958 would confirm a bullish triangle breakout. The 50- and 100-day moving averages are about…

Opposition Party Boasts Pro-Crypto Policy in Contrast to Gov’t

South Korea’s main opposition party, the Liberty Korea Party (LKP), is poised to unveil its policy for cryptocurrencies and crypto exchanges. As Cointelegraph Korea reported on Sept. 19, the LKP’s stance appears to be more radical and pro-innovation than that of the current government, notably in its support for the authorization of tokenized securities.  Authorizing security token offerings and asset tokenization The LKP is scheduled to hold a “People’s Report Meeting” at the National Assembly building in Seoul, on Sept. 22, where the party will unveil its final “2020 Economic…

Publicly-Listed Mining Firm Argo Blockchain Adds 1,000 New Miners

Mining firm Argo Blockchain installs 1,000 more mining machines, financial news outlet ProactiveInvestors reports on Sept. 19. The addition of the new machines would take the company’s total number of miners to 6,000. Furthermore, the firm also plans to acquire another 6,000 of them in the next two quarters. The firm, publicly traded on the London stock exchange under the ARB ticker. Reports which circulated in August also pointed out that the company signed a deal to increase its electricity supply by 357%, which would be enough to power an…

SEC Charges Token Sale Platform For Illegal $14M Securities Offering

The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers. SEC says ICOBox’s digital tokens are worthless In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017. The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders…

Two Arrested for ‘Old-Fashioned Shakedown’ of Cryptocurrency Startup

Authorities in the United States have arrested two individuals who allegedly threatened to destroy a startup crypto company if they were not paid millions of dollars in cryptocurrency. Extortion of crypto startup On Sept. 18, the U.S. Attorney’s Office for the Eastern District of New York, together with the FBI, announced the arrest of Steven Nerayoff and Michael Hlady. Both individuals were charged with extortion of a cryptocurrency startup and have already made their initial appearance in federal court. Nerayoff, a lawyer himself, was purportedly hired to assist in a…

Israeli Startup That Allows Offline Crypto Transactions Secures $4M

Israeli cybersecurity startup GK8 has reportedly developed the world’s first offline system for transacting cryptocurrencies. The new system uses GK8’s proprietary cryptographic techniques that enable instant blockchain transactions of digital assets without any need for an internet connection, Israeli business news publication Globes reported on Sept. 18. The company raised $4 million in a funding round led by Discount Capital, a venture arm of one of Israel’s three largest banks, Discount Bank, and Marius Nacht, a co-founder of cybersecurity giant Checkpoint. Other investors reportedly included EdenBlock, iAngels, IDEAL-HLS, StratX and the…

NetCents Doubles Partnership Agreements in Six Months

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement. Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems. “This accelerated partner growth continues to validate our business model and the…