Month: October 2020

U.S. District Judge Alvin Kellerstein has sided with the U.S. Securities and Exchange Commission (SEC), ruling that the Canadian technology firm Kik’s $100 million initial coin offering (ICO) violated federal securities laws. On September 30, Judge Kellerstein responded to both parties’ requests for summary judgment, determining that Kik’s 2017 token sale meets the definition of a securities issuance according to the Howey test, as the ICO participants had a reasonable expectation of profit. “In public statements and at public events Read more …

Ethereum is showing positive signs above the key $355 support against the US Dollar. ETH price could accelerate higher if it clears the $365 resistance zone. Ethereum is slowly rising and it is now trading well above the $355 support. The price is currently testing the $362 resistance and is above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $355 on the hourly chart of ETH/USD (data feed via Kraken). The Read more …

2020 has been a rollercoaster year for Bitcoin. The lockdowns caused by the coronavirus pandemic earlier in the year pushed the crypto lower by almost 60 percent. Its crash shortly followed an equally aggressive rebound that took its price up by 220 percent. It is safe to say that Bitcoin is sitting in a profitable position so far into the year. The cryptocurrency’s year-to-date performance at 50 percent above zero stands taller than the one logged by traditional markets, including Read more …

The Australian government this week unveiled its $574 million Digital Business Plan that includes seven-figure grants for distributed ledger technology initiatives.  Announced by Prime Minister Scott Morrison ahead of next week’s Federal Government budget, the plan outlines $4.95 million in support for “two blockchain pilots directed at reducing business compliance costs.” Morrison said: “The plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses, and backs the uptake of technology across the economy.” Piper Read more …

Active addresses and transaction counts on the Bitcoin SV network saw unbelievable growth in the two days leading up to the CoinGeek Live conference in New York this week. Active BSV addresses grew from 110,000 on September 28, to 947,400 addresses today. That’s an astonishing growth rate of 761%, in just two days leading up to CoinGeek Live, which kicked off on September 30 at 9am New York time, and will run until October 2. The spike in active addresses Read more …

Wootrade, a Taiwan-based liquidity provider platform and crypto asset exchange aimed at institutions, has concluded a $10 million private investment round led by Dragonfly Capital.  Investors in the round include crypto notables including Haskey Capital, Three Arrows Capital, and DeFi Capital’s venture wing. The newly raised funds will be used to expand the Wootrade team, and to support the launch of future products. The platform is currently in closed beta, where roughly one dozen institutions and early investors are already Read more …

Bitcoin price is showing early signs of a bullish break above $10,800 against the US Dollar. BTC could continue higher as long as it is above the 100 hourly SMA. Bitcoin is struggling to gain bullish momentum, but it slowly moved above the $10,800 resistance. The price is now above the 100 hourly simple moving average, with a major hurdle at $10,920. There was a break above a crucial contracting triangle with resistance near $10,815 on the hourly chart of Read more …

Onecoin victims have joined a consortium that wants the European Parliament to consider a petition seeking the establishment of a compensation fund. The envisioned EU-administered fund will function as an insurance kitty for current and future victims of all crypto fraud. The petitioners are proposing the levying of an “unnoticeable” fee of 0.0001 cent per €1 on all crypto-asset transactions conducted on EU territory. Explaining the pivot towards the European Parliament, the victims’ lawyer, Jonathan Levy, says they have now Read more …

SingularityNET, the AI company behind the expressive robot Sophia, is “seriously discussing” a migration from Ethereum to Cardano, after announcing a collaboration with IOHK. IOHK is run by the founder of Cardano, Charles Hoskinson, and drives the development of the blockchain platform. SingularityNET is a full-stack AI platform that lets anyone create, share, and monetize AI services at scale. The potential move to Ethereum is driven by concerns around speed and costs that have been badly affected lately by demand Read more …

Bitcoin underwent multiple rejections in the $11,000 region over recent weeks, suggesting the asset remains rangebound. Fortunately for bulls, there are on-chain trends suggesting that the cryptocurrency is in a bullish state. There are also underlying fundamentals like a commitment to inflation by the Federal Reserve that could spur further BTC purchasing. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase Bitcoin’s On-Chain Trends Suggest the Prevailing Trend Is Bullish Bitcoin’s recent price action has been cautious at best but Read more …

The first debate of the 2020 U.S. presidential election had no clear winner, but crypto-powered prediction platforms are having a field day.  Election futures on crypto derivatives exchange FTX boomed, with the platform’s CEO reporting more than $4 million in open interest trying to pick the winner between Democrat Joe Biden, and Republican Donald Trump. On FTX, Trump’s brash debate performance got a big thumbs down and drove a 10% crash in the price of futures contracts backing his re-election. Read more …

Bitcoin’s price action has done little to reassure investors of its near-term outlook, as the cryptocurrency has largely been caught within the throes of an intense bout of sideways trading over the past couple of weeks. This has led to the formation of a trading range between $10,200 and $11,200, with buyers and sellers largely reaching an impasse as it trades between these two range boundaries. The cryptocurrency’s trading volume has been diving lower throughout the course of this consolidation Read more …