New York Court Rules That State Attorney Has Jurisdiction Over Bitfinex

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

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

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

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

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

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…

Winklevoss’ Gemini Crypto Exchange Hires New Chief Security Officer

Gemini, the cryptocurrency exchange and custody founded by the Winklevoss twins, has hired cybersecurity expert David Damato as its new chief security officer (CSO). Damato was previously the CSO of cybersecurity firm Tanium.  Tyler Winklevoss announced the new hire in an official blog post on Aug. 19. According to the blog, Damato previously created and led a cybersecurity team at Tanium that provided security services to government agencies, Fortune 500 firms and numerous banks. In the announcement, Tyler Winklevoss emphasized that Gemini has always had a security-first mentality, citing its…

Maltese Crypto Exchange CGEX Shuts Down After Temporary Terminations

Coinone Global Exchange (CGEX), a Malta-based crypto exchange launched by major South Korean exchange Coinone, will terminate its service in mid-September. Less than a year in operation According to an announcement on Aug. 12, the exchange will shut down services at 2:00 a.m. UTC on Sept. 18. CGEX initially launched in October 2018. CGEX placed a services termination notice on the main page of its website, adding that it has decided that it can no longer maintain service. CGEX’s services termination notice | Source: CGEX  In the notice, CGEX warned…

Gambling or a Window to the Future?

Recently, there have been an increasing number of blockchain-based prediction markets (PMs) such as Augur, Bitcoin Hivemind, Amoveo, Gnosis, Cindicator, etc. PMs use the technology of smart contracts for bets on various issues. For example, one user could place $100 on President Donald Trump getting reelected for a second presidential term while another person is convinced that a Democratic candidate will win the Oval office in 2020. Once the election is over, the pot is automatically transferred to the winner of the bet. At first sight, betting may not be…

SEC Continues to Stall on BTC ETFs, All in Wait for Breakthrough

The long and uncertain road toward crypto exchange-traded funds (ETFs) being approved by the United States Securities and Exchange Commission (SEC) took its latest turn on Aug. 12, when the regulatory body once again delayed its decision on three ETF proposals. Below is a timeline of all the past and ongoing Bitcoin ETF proposals: What are ETFs?  Similar to stocks in that they are traded on exchanges, ETFs are baskets of securities. ETFs track an index or basket that are proportionately represented in the fund’s share. The development and regulation…