Friday, December 14, 2018
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Mary Kihoro

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ICOs Could Pay Back Millions after SEC Ruling, Pantera Capital

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Dan Morehead, the CEO of Pantera Capital, has revealed that 25% of the ICO projects could have violated US Securities laws and may end returning their funds to investors.

His statement comes just a few weeks after the Securities and Exchanges Commission (SEC) released new policies governing ICO projects.

However, he believes that companies in the hedge fund’s portfolio might not be affected the new rules.

Bitcoin at a New Low of $3,200

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It seems that the crypto winter isn’t over as Bitcoin continues to drop after breaching the $3,300 support.

At the beginning of the week, the bulls seemed to have regained the crypto market but the trend has reversed with Bitcoin currently trading at $3,203. Some in the crypto community believe that the drop could continue and Bitcoin might test the $3,000 mark with the next support at $2,970.

Metal Pay Dishing Out Free Crypto

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Metal Pay, a peer to peer payment platform, has announced that it’s giving out 200 MTL worth approximately $50 to crypto enthusiasts who sign up to utilize the service.

The platform is an equivalent of PayPal and strongly believes that offering free gifts could help with greater adoption of cryptocurrencies.

The offer is only available today to US customers in 34 states. Metal Pay allows users to send crypto using phone numbers.

PTPWallet Launches on Google and Apple

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    After 11 months of development, CannaSOS has finished working on PTPWallet, a hybrid crypto platform which is now available on Google’s Playstore and Apple App Store.

    The app had been developed for the Cannabis industry but due to industry demand, the CannaSOS Corp designed the wallet to diverse industries in the world.

    The president of CannaSOS Corp is happy with the launch and believes that the wallet will really help bridge the retail that is missing in the crypto space.

    Justin Sun Hails TRON for Recording 2M Transactions Daily

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    Justin Sun, the founder of TRON, has praised the network for posting two million transactions daily. According to Sun, the number of addresses on the platform is growing by 32, 284 each day.

    The reason for the growth is due to migration of developers from EOS and Ethereum. Sun has been passionate about TRON and had vowed to land it on the top 10 list on Coinmarketcap, which it recently did.

    Central Bank of Bahrain Issues Draft Regulations on Virtual Assets

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    The Central Bank of Bahrain has reportedly has issued draft rules that will govern digital asset operators in the country. The rules will touch on licensing and supervision of virtual asset platforms.

    The country that sees blockchain as huge opportunity has been on the forefront of embracing the technology and providing a suitable environment for it to flourish.

    The regulation encompass measures to safeguard investors and manage cyber security risks.

    Ethereum’s Status.IM Laying Off Quarter of its Staff

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    Status.IM, an Ethereum-based chat tech firm, has announced that its laying off 25% of its staff due to the current downtrend being experienced in the cryptocurrency market.

    The company was able to raise 182,000 Ether in a token sale that was conducted sometime last year which was worth about $64 million at the time but the figure has dropped to $15.5 million at the current prices.

    The firm will reportedly stretch its finances to cover another six months.

    StateU Issues Real Estate and Fintech ERC20 Token

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      StateU, a decentralized app that aims at processing credit card payments through blockchain has issued a multipurpose ERC20 token.

      The platform is now offering credit card payment processing to 12 countries through blockchain technology. The use of the technology has made processing of the payments less prone to fraud and done at very low costs.

      The StateU ERC 20 token will help holders sell property online using blockchain to transfer ownership.

      Geneva-based Afro Foundation Launches Pan African Cryptocurrency

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      Afro Foundation, a non-governmental organization based in Switzerland, has launched what it calls the first ever Pan African Proof of Stake (PoS) cryptocurrency that will be used to fuel growth and development in Africa.

      The AFRO token is designed to cater to Africa’s unique economic challenges and will help transform the digital landscape in the continent.

      As a reward, the first 200,000 wallets to experiment the cryptocuurency will be rewarded with 50 free AFROs.

      Bitcoin Private Gains 30% in Price over Three Days

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      Bitcoin Private(BTCP), privacy oriented peer to peer open source blockchain platform, has gained over 30% in price over the last three days.

      BTCP is a product of Bitcoin hard fork which applies the same privacy protocol as ZClassic. KuCoin recently announced that it would continue to support BTCP tokens until March 2019 which could have contributed to surge in its price.

      However, KuCoin hasn’t open up trading for BTCP.

      Latin America Continues to Record High Volumes on LocalBitcoins

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        As inflation continues to burden countries in Latin America, LocaBitoins has witnessed increased growth in the number of Bitcoins traded by countries such as Venezuela, Argentina and Colombia.

        Argentina has posted a new record on the number of fiat- Bitcoins traded on the peer to peer marketplace with upwards of 9.4 million Pesos worth of Bitcoin being transacted.

        Venezuela also traded 3.2 billion bolivars with 1,636 BTC changing hands

        Coinbit’s DEX Grows by Over 54% Due to Strategic Partnership with Hexa

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        DEX, the native token for South Korea’s Coinbit exchange, has risen with over 54% in a week allegedly due to a partnership with Hexa .

        The coin that’s ranked 49th just got listed on CoinZest and is also available on IDAX and Coinbit.

        Hexa is labelled the largest blockchain firm in Israel and its partnership with Coinbit would most likely drive DEX’s price up the ranks.

        TRON Surpasses Stellar, TRONbet Nears $1 Billion Transactions

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        Justin Sun, the founder of TRON network, has brought to the attention of the crypto community that TRON has surpassed Stellar on the number of trading pairs on CoinMarketCap with a total of 159 pairs compared to the latter’s 157.

        Sun also announced some major milestones for TORN where one of its DApps, TRONbet almost did a billion transactions in the past 24 hours and 13 million TRX dividends in the same period.

        OKex Suspends HPB Deposits and Withdrawals, Distributes ONG Nov Bonus

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        Leading trading platform, OKex, has suspended the deposit and withdrawal of High Performance Blockchain (HPB) token for a client upgrade.

        Users will be notified once the upgrade is complete but HPB deposits can still be done and will be credited accordingly.

        Additionally, OKex has completed the distribution of the ONG November bonus and users can redeem their tokens on the platform.

        Stratis Price Reacts Positively to Release of Full Node

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        Stratis, a blockchain platform designed for real world financial services, has seen a steady price momentum following the release of its full node.

        The coin ranked 56th and currently trading at $0.65 has remained stable despite most coins lapsing into the red zone after a brief reversal of the market.

        The launch of the C # Full Node is a major step for the platform since it brings closer its vision for adoption at an enterprise level.

        Bitmain Ventures into Artificial Intelligence

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        Bitmain which is a leading manufacturer of crypto mining equipment is changing its strategy and venturing into Artificial Intelligence (AI) by partnering with Chinese tecch giant, China Mobile.

        Recent reports have shown that miners are shutting down their machines at a high rate due to the increased mining difficulty.

        Bitmain sees AI as the next big thing and is willing to channel its resources to exploring the technology’s impact on digital homes, security and tourism.

        PundiX Launched on OEX

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        OEX exchange has announced that it will list PundiX (NPXS) on the BTC trading zone.

        PundiX is currently trading at $1.43 and is ranked 48th by CoinMarketCap with a market capitalization of $81.628 million.

        PundiX is a blockchain-based platform that is designed to allow traders to buy cryptocurrencies from anywhere at any given time.

        The platform uses POS machines installed at outlets to give crypto users access to various cryptocurrencies. The platform hopes to roll out 100,000 of their machines by 2021.

        Number of Crypto Users Grows Despite 80% Drop in Bitcoin’s Price

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          Reports show that the number of new users registering on crypto trading platforms has increased in 2018 despite the bearish trend observed for the most part of this year.

          According to a study by Cambridge Center for Alternative Finance, the number of crypto users has grown from 18 million to 35 million this year.

          The report is a beacon of hope to the crypto community in what has generally been a tough year full of skepticism regarding cryptocurrencies.

          Netherlands to Introduce Licences for Crypto Service Providers

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          The Central Bank of Netherlands will soon require crypto service providers in the Dutch country to obtain a licence for their operations.

          One of the requirements to obtain a licence is for the firms to successfully verify their customers and notify the regulatory authority of any suspicious activities.

          A few months ago, an executive at the Dutch central bank had stated that virtual currencies weren’t real money but the body wasn’t considering banning them.

          AriseBank Executives to Pay over $2.7 Million in SEC Fines

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            The Securities Exchange Commission (SEC) has announced that two AriseBank executives will pay a fine of upwards of $2.7 million for operating a fraudulent ICO.

            The Federal Bureau of Investigation (FBI) arrested AriseBank CEO, Jared Rice, last month for allegedly defrauding investors over $4 million by telling them that the project could offer them Visa-branded crypto cards and FDIC insurance services.

            The other executive is AriseBank’s ex-Chief Operating Officer Stanley Ford who aided Rice in the company’s fraudulent activities that were published online and on the press.

            Basis Stablecoin Project To Shut Down

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              Basis, a US-based stablecoin project, will reportedly shut down and refund its investors according to sources with inside knowledge of the situation.

              The project successfully raised $133 million though a private funding round back in April. The reason for the shutdown is allegedly due to regulatory concerns about one of the project’s token types whose protocol implements a secondary token which is pegged on the primary one.

              The project team is yet to officially announce the shutdown.

              Bitpoint Exchange Launches in Panama

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              Bitpoint, a leading Japanese crypto exchange, is now offering crypto-fiat trading services in Panama. The exchange that’s fully complaint will offer USD trading pairs for Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

              Panama is the sixth country that Bitpoint operates in with presence in five other Asian countries. To process the fiat deposits, Bitpoint will use Panama ACH Bank wires.

              Bitpoint has promised Panama crypto traders deep liquidity to ensure faster processing of transactions.

              Open Sea Partners with Atomic Bazaar

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                Open Sea, a decentralized marketplace for digital collectibles, has partnered with Atomic Bazaar the team behind the popular CryptoKitties product.

                Open Sea is excited to bring its clientele the Atomic Bazaar product rich features to its platform. Atomic Bazaar has a rich history of creating DApps and are also behind the Kittyhats product which was designed to accessorize the CryptoKitties.

                The two platforms are working on a better system to help grow the liquidity of blockchain-based assets.

                CFTC to Carry Out an In-Depth Analysis of Ethereum Futures Contracts

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                The Commodities Futures and Trading Commission (CFTC) has stated that it will take an in-depth analysis of the Ethereum Blockchain so as to fully understand it before making a decision on Ethereum Futures Contracts.

                CFTC is still not convinced about the Ether protocol and wants to take its time before concluding on its decision.
                Consequently, the Commission has called on members of the public to give feedback about Ethereum which will be factored into their decision.

                Crypto Winter is a Time to Recharge, Tyler Winklevoss

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                  In a detailed Medium post by one of the Winklevoss twins, Tyler went into details of the just launched Gemini mobile application that will help their users trade cryptocurrencies conveniently.

                  The twins recently stated that the current state of the market commonly referred to as ‘crypto winter’ was an ideal time for them to build and catch their breath after a highly volatile and exciting crypto trading period.

                  The Gemini trading app is available for both Android and IOS users.

                  Vertalo Strategically Partners with Issuance

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                    Issuance, a marketing platform that matches digital asset issuers with prospective investors, has announced a partnership with Vertalo, a communications and compliance for digital assets securities platform.

                    Through the partnership, Issuance will utilize Vertalo’s cutting edge technology to provide their clients with compliance, communication and cap table tools.

                    According to the CEO of Issuance, Darren Marble, the partnership is a plus for the marketing firm since their clients will now be equipped with tools that bind initial investors with secondary trading.

                    Blockpass and Infinito Wallet Launch Security Token Wallet

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                      Blockpass, a digital identity application built on blockchain, and Infinito Wallet, a leading global mobile wallet provider, have launched what they term as the world’s most secure KYC-enabled security token wallet.

                      The wallet will be a combination of the Blockpass KYC Connect solution and the advanced features of Infinito Wallet.
                      The partnership is strategic and is meant to allow easy access to security tokens as they enter mainstream adoption.

                      Japanese Prosecutors Demand 10-Year Sentence for Mt. Gox CEO

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                      Prosecutors in Japan have asked the Tokyo District Court to hand the CEO of Mt.Gox , Mark Karpeles, a ten year jail sentence for misappropriating customer funds.

                      The prosecutors accused the CEO of using investors’ money for personal expenses. He reportedly transferred about $3 million into his personal account where he allegedly invested it in software development companies where he had personal interest.

                      Mt.Gox filed for bankruptcy in 2014 and is said to have sunk with 850,000 Bitcoins.

                      Tezos Price Bounces Back After Huobi Global Listing

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                      Tezos, a blockchain platform for DApps and smart contracts, has continued to slowly regain its value with 12% price gain recorded over the last 24 hours.

                      Behind the scenes factors seem to have pushed the price of XTZ upwards such as the listing of the token on Huobi Global.

                      Additionally, some in the crypto community still believe that Tezos will be listed on Coinbase before the year ends which has helped build price momentum for the token.

                      Bitwala Officially Starts Crypto Banking in Germany

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                      Bitwala, a crypto trading platform, has officially started offering crypto banking services in Germany through collaboration with Solarisbank.

                      After a couple of months of preparing the venture, Bitwala can now finally a crypto-based banking solution through a fully registered bank.

                      The platform will offer Euro and Bitcoin services on one platform with limits of up to 100,000 Euros as protected by the law.

                      Bittrex Lists USDT/NPXS , Adds ZRX

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                      Bittrex, a leading crypto exchange, is now offering USDT/NXPS trading pair and trading for the pair will start immediately on Bittrex International.

                      The exchange has added 0X (ZRX) to its USD fiat market where accounts created before 12th November are eligible for the trading

                      NXPS is the native token of PundiX, a blockchain-based platform that provides retailers with decentralized point of sale solutions.

                      Galaxy Capital is Still Very Liquid, Mike Novogratz

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                        Mike Novogratz, the founder of crypto firm , Galaxy Capital has stated that he is frustrated that its clients have lost money but he clarified that his firm was still very liquid to remain in business for an extended period of time.

                        The former partner at Goldman Sachs came into the limelight for his correct prediction that Bitcoin would hit $10,000.

                        Novogratz stated that the firm wasn’t nervous about the current state of crypto market.

                        KuCoin Announces Maserati Plus 3 BTC ONO Trading Competition

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                        Leading digital asset trading platform, KuCoin, has announced an ONO(ONOT) trading competition where 147,000,000 ONOT, a Maserati and 3 BTC are up for grabs.

                        KuCoin will take a snapshot of users holding ONOT in their accounts where the user with at least 600 million ONOT tokens will win a Maserati Levante SUV.

                        ONO is a social network built on blockchain technology and was recently listed on KuCoin.

                        OKex Changes BCHABC Ticker to BCH, Terminates BCH Futures Trading

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                        OKex, which is one of the leading crypto trading platforms in the world, has changed the Bitcoin Cash ABC ticker from BCHABC to BCH while that of Bitcoin Cash SV will be BSV from BCHSV.

                        The platform has also suspended spot trading of BCHABC and BCHSV but will be reopened on 13th December 2018. All API users are required to adjust their settings of BCHABC and BCHSV.

                        Additionally, all the original BCH futures contracts will cease to exist on the platform.

                        Ripple is not a Science Experiment, Ripple’s Sales Director

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                        Ross D’Arcy, the Director of Sales at Ripple, stated in a recent Impact Fintech 2018 summit that Ripple isn’t a science experiment but a digital platform that is solving real world problems.

                        He insisted that xRapid and xCurrent had real user cases which were solving global financial payments.

                        He echoed his colleague’s statement, Marcus Treachery, who claimed the current SWIFT system is out-dated and full of cumbersome procedures.

                        CEX.IO Users Have to Disclose their Identity

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                        London-based digital trading platform, CEX.IO, has announced that all its users will be required to disclose their identities in a move to comply with international laws.

                        As much as a report by FATF recently revealed that crypto exchanges in the UK were less likely to engage in money laundering, CEX.IO wants to be on the safer side.

                        CEX.IO has an adjusted daily trading volume of about $4.9 million with 8 major currencies listed on the platform.

                        Update:KFC Denies Accepting Dash Payments

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                        Antonio Sampayo, the CEO of Kentucky Fried Chicken ( KFC) in Venezuela has come out to deny the recent reports claiming that the american food giant was accepting Dash payments.

                        He stated that they were carrying out a test with Dash but had not finalized on the process of accepting the cryptocurrency in their food outlets.

                        His statements contradict those made by Dash News PR director who had sent out a Tweet claiming that KFC Caracas would be the first to accept Dash.

                        Neufund Raises 3 Million Euros Halfway Through its ETO

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                          Neufund, a blockchain project based in Berlin, Germany, recently launched an Equity Token Offering (ETO). It has now emerged that the startup has already raised 3 million Euros halfway through its ETO.

                          The public offering that will end on 16th December has been labelled as the world’s first fully compliant ETO. Neufund has managed to provide a practical and legal link between a blockchain token and real world equity.

                          Ripple’s Marcus Treacher Heavily Criticises SWIFT Platform

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                            Marcus Treacher, the head of strategic accounts at Ripple, has heavily criticised Society of Worldwide Interbank Financial Telecommunications (SWIFT) for its extreme delays when processing global payments.

                            A recent report exposed the extremely lengthy SWIFT process that is filled with errors and unnecessary delays.

                            Treacher took the opportunity to remind the global financial community on why Ripple is necessary since its transaparent, reliable and extremely fast.

                            IOHK Launches Two Smart Contract Tools on Cardano

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                            IOHK, a blockchain research company, has launched two tools to help build smart contracts on the Cardano blockchain.

                            The test format of Plutus and Marlowe have been launched that will help users create smart contracts. Plutus is designed to provide a general programming language that will help startups prepare projects on Cardano.

                            For those not familiar with programming, the Marlowe tool will help them code easily and quickly generate software products.

                            Japan to Reduce Crypto Tax to Boost Market

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                              Japanese congressman, Takeshi Fujimaki, has introduced four changes to taxation policies in the country in a bid to revitalize the dwindling crypto market scene.

                              One of the major proposals by the lawmakers was a reduction of tax made on crypto gains from 55% to a flat rate of 20%. Trading between crypto and crypto should also be made free while very little tax should be charged on small crypto payments.

                              Implementing the changes will help boost crypto activity in Japan.

                              U.K Crypto Exchanges at Low Risk of Money Laundering Activities, FATF

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                                A report by Financial Action Task Force (FATF), an anti-money laundering policymaker, shows that the United Kingdom is at a low risk of money laundering activities through crypto exchanges.

                                According to the report, money laundering can be viewed as an emerging risk and the FATF didn’t find enough evidence to show that the activity was being fueled by crypto exchanges.

                                The FAFT advice to the UK government was that it should strive to understand virtual currencies and fill up any intelligence gaps that may arise.

                                Ethereum Schedules Constantinople Upgrade for January

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                                Developers of the Ethereum blockchain have scheduled the Constantinople update for 16th January 2019. The much awaited update signifies the next major step on the blockchain’s roadmap which involves a hard fork that will take place at block 7,080,000.

                                The update will help simplify off chain transactions and help advance scaling of Ethereum blockchain. Constantinople will help pave way for the final phase of the roadmap referred to as Serenity.

                                Tether Climbs to No. 5 as Market Continues to Dampen

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                                  Despite what looked like a hopeful start to December, most coins are still in the red zone with the total market capitalization dropping below $110 billion.

                                  Bitcoin has been in a range of $3,300 and $3,450 but seems likely to hit $ 3,000 which is considered another key support level.

                                  However, Tether has managed to climb to number 5 on coin rankings despite the highly bearish crypto market.

                                  Massive Sell off on the Crypto Market, Companies Lay Off Staff

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                                    As the bearish market continues, companies are struggling to keep afloat and reports have shown that most are laying off some of the staff.

                                    The prolonged crypto winter that has continued for most of this year has seen many crypto enthusiasts continue to dump their tokens at incredibly low prices.

                                    While some in the crypto community believe that it’s an ideal time to stock up as others sell, the market needs a catalyst for it to go back to its fading glory.

                                    Binance MITH Trading Competition

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                                    Binance, one of the largest crypto trading platforms in the world, has announced a MITH trading competition where 2,000,000 MITH will be up for grabs.

                                    The Mithril team has committed the tokens to the competition as a way to celebrate MITH listing of Binance. The top 100 users will receive the tokens based on their trading volume.

                                    The competition will run from 12th December to 19th December where the winners will be announced within two weeks after close of the competition.

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                                    ICOs Could Pay Back Millions after SEC Ruling, Pantera Capital

                                    Dan Morehead, the CEO of Pantera Capital, has revealed that 25% of the ICO projects could have violated US Securities laws and may end...

                                    Bitcoin at a New Low of $3,200

                                    It seems that the crypto winter isn’t over as Bitcoin continues to drop after breaching the $3,300 support. At the beginning of the week, the...

                                    Metal Pay Dishing Out Free Crypto

                                    Metal Pay, a peer to peer payment platform, has announced that it’s giving out 200 MTL worth approximately $50 to crypto enthusiasts who sign...

                                    PTPWallet Launches on Google and Apple

                                    After 11 months of development, CannaSOS has finished working on PTPWallet, a hybrid crypto platform which is now available on Google’s Playstore and Apple...
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