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1  Bitcoin / Press / [2019-1-24]Binance Follows Major Cryptocurrency Exchanges With Launch of OTC. . on: January 24, 2019, 02:48:52 PM
Binance Follows Major Cryptocurrency Exchanges With Launch of OTC Trading Desk

Number-one ranked cryptocurrency exchange Binance has announced it had launched its over-the-counter (OTC) trading desks for larger transactions, according to a Jan. 23 blog post.
The new tool, simply known as Binance OTC, offers services geared to users performing trades worth at least 20 BTC ($71,000).
“Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” officials explained in the post.
The move makes Binance the latest major cryptocurrency exchange to launch OTC services, following hot on the heels of United States exchange Bittrex last week.
In December, meanwhile, crypto finance firm Circle revealed its extant OTC desk had handled payments worth around $24 billion in 2018.
At the time, cryptocurrency news and research publication Diar further found that an increasing number of major investors had begun to favor OTC over traditional trading methods.
“Institutional cryptocurrency trading on traditional exchanges have lost ground in volumes as Bitcoin is being welcomed into major outfit portfolios this year, with more slated to come online in 2019,” the publication summarized.
A Cointelegraph analysis has found that OTC could play host to a battle among industry players to woo institutional funds this year.

Source: https://cointelegraph.com/news/binance-follows-major-cryptocurrency-exchanges-with-launch-of-otc-trading-desk
2  Bitcoin / Press / [2019-1-22]Japan: E-Commerce Giant Rakuten to Move Crypto Exchange to New. . on: January 22, 2019, 09:05:20 AM
Japan: E-Commerce Giant Rakuten to Move Crypto Exchange to New Payments Subsidiary

Japanese e-commerce firm Rakuten has announced a revision to its corporate restructure, setting up a new payments subsidiary that includes its cryptocurrency business, Cointelegraph Japan reported Jan. 21.

Rakuten, known informally as ‘Japan’s Amazon,’ originally revealed in August last year it would seek to reorganize its various offshoots in order to improve accountability and decision-making processes.

Now, the company says it will rebrand its loyalty subsidiary, Spotlight Inc., to a new entity, Rakuten Payment, which will also run its cryptocurrency exchange.

Rakuten Payment, along with other details of the restructure, should go live by April 1, the company stated in an accompanying press release Jan. 18.

Once launched, it will form an umbrella for two operations: cryptocurrency exchange Everybody’s Bitcoin, which Rakuten also acquired last August, and prepaid card service Rakuten Edy.

Readmore: https://cointelegraph.com/news/japan-e-commerce-giant-rakuten-to-move-crypto-exchange-to-new-payments-subsidiary
3  Bitcoin / Press / [2019-1-13]Google Reportedly Blacklists ‘Ethereum’ as a Google Ad Keyword, Start on: January 13, 2019, 02:27:33 PM
Google Reportedly Blacklists ‘Ethereum’ as a Google Ad Keyword, Startup Claims

Google (Alphabet Inc.) has reportedly blacklisted keywords mentioning Ethereum (ETH) on its advertising platform Google Ads, smart contract auditing startup Decenter tweeted on Jan. 10.

The official Google Ads account replied to the tweet stating that cryptocurrency exchanges targeting the United States and Japan can be advertised on the platform, and that targeting other countries could be the reason for the ad rejection.

When Decenter explained that they are a group of developers doing smart contract security audits and that they were seeing the error message when trying to use the “ethereum development services” and “ethereum security audits” keywords, Google Ads’ official account answered:

    “Although we wouldn't be able to preemptively confirm if your keyword is eligible to trigger ads, we'd recommend that you refer to the 'Cryptocurrencies' section of our policy on Financial products and services.”

When Decenter asked the Ethereum community on Reddit in an open query about the alleged Google Ads policy changes, the team specified that:

    “Any of the keywords that contain "ethereum" in our campaigns are no longer showing ads as of January 9th and are now reporting the following error.”

Screenshot of the error encountered by Decenter

Screenshot of the error encountered by Decenter. Source: Decenter’s Jan. 10 Tweet

Decenter’s Reddit post further explained that they have tested keywords for “ethereum smart contract audits" and "eos smart contract audits” and found that only the EOS-referenced keyword showed ads.

The top comment on the Reddit post criticizes Google’s position as a neutral third party, stating:

    “Google has various political and economic agendas, and they are quite willing to use their various services to promote their preferences. AdSense and Youtube are notorious for this, but there have been some incidents regarding the play store as well.”

As Cointelegraph reported in March last year, Google banned all cryptocurrency-related advertising of all types in June 2018, according to a recent update to their Financial Services policy.

However, Google announced in September 2018 that it would change its ad policy in October, reallowing some crypto businesses to advertise on its platform. Namely, the changes allow cryptocurrency exchanges ads in the United States and Japan.

Recently, Cointelegraph reported that the Bitcoin (BTC) wallet provider Samourai Wallet needed to disable some of its security features in order to be able to continue to distribute its software on Google’s Play store.

Source: https://cointelegraph.com/news/google-reportedly-blacklists-ethereum-as-a-google-ad-keyword-startup-claims
4  Bitcoin / Press / [2019-1-12]St. Louis Federal Reserve Report: Increased Supply of Altcoins Will. on: January 12, 2019, 12:10:07 PM
St. Louis Federal Reserve Report: Increased Supply of Altcoins Will Decrease BTC’s Value


The creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies, including Bitcoin (BTC). This conclusion was found by research conducted by the Federal Reserve Bank of St. Louis and published on Jan. 11.
The report cites two perspectives: Bitcoin bulls’ belief that the capped supply and increased demand will increase BTC’s price, and the bears’ belief that its price will fall to zero. The researchers state:
“We think the future price path is more likely to remain bounded between these two extremes.”
According to the research, the United States dollar price of BTC will also depend on its exchange rate relative to altcoins. The report explains that the bulls expect Bitcoin to appreciate relative to altcoins, or to keep its market capital relative to the global crypto market cap constant. Still, the researchers show that this hasn’t been the case so far.

Readmore: https://cointelegraph.com/news/st-louis-federal-reserve-report-increased-supply-of-altcoins-will-decrease-btcs-value
5  Bitcoin / Press / [2019-1-8]Despite Reporting Revenue Losses, GMO Internet's Crypto Mining Rewards on: January 08, 2019, 02:39:28 PM
Despite Reporting Revenue Losses, GMO Internet's Crypto Mining Rewards Soar

Japanese IT giant GMO Internet Group has published the latest monthly disclosure on its in-house crypto mining operations, confirming that it took a steep hit in overall mining revenue. GMO released the disclosure in a publicly available document on Jan. 8, also revealing a steady increase in its monthly Bitcoin (BTC) mining rewards.
As previously reported, GMO’s consolidated losses for Q4 2018 totalled 35.5 billion yen ($320 million), with its unconsolidated loss tallying at around 38 billion yen ($334.5 million).
As a result, the firm announced it would be shutting down its hardware manufacturing business, but would nonetheless continue its in-house mining operations. These latter will be reportedly subject to restructuring, with plans to relocate GMO’s mining center to a region with lower-cost electricity supplies.
As revealed in GMO’s latest monthly report, even as overall revenue from mining has tanked, the firm’s Bitcoin mining reward has consistently increased over time — from just 21 BTC in December 2017 to 528 BTC in June 2018, and then 960 BTC in December 2018. In its disclosure, the company explains that as “the market’s total hash rate decreased, so our mining share rose and our mining reward expanded.”

Readmore: https://cointelegraph.com/news/despite-reporting-revenue-losses-gmo-internets-crypto-mining-rewards-soar
6  Bitcoin / Press / [2019-1-7]Hong Kong Entrepreneur Accused of Cheating Investors in Crypto Mining on: January 07, 2019, 03:01:55 PM
Hong Kong Entrepreneur Accused of Cheating Investors in Crypto Mining Investment Scheme

A Hong Kong-based entrepreneur has been accused of duping numerous investors in a cryptocurrency mining hardware investment scheme. A local English-language newspaper South China Morning Post (SCMP)  reported the news Jan. 6.
The Democratic Party — currently the second-largest political party in the Legislative Council of Hong Kong — has reportedly received over 20 complaints since October 2018 in regard to the scheme, allegedly spearheaded by a 24-year old businessman named Wong Ching-kit.
Four of those affected, who are reported to have suffered losses of between HK$20,000 and HK$1 million ($2,500 - $127,600) each — a combined loss of about HK$3 million ($383,000) —  have now demanded a full refund on their investments, according to SCMP.
A police spokesman is further cited by SCMP as reporting that 9 individuals, aged 29-41, had previously lodged complaints with the authorities claiming they had been cheated of a combined HK$940,000 ($120,000) in investments in Wong’s cryptocurrency business.
Wong is accused of having misled investors into purchasing mining hardware for a crypto token dubbed “Filecoin,” allegedly promising his clients profits on their investments within three months.
Filecoin, however, was reportedly not yet tradeable, and investors allege that Wong’s promises to refund their investments have not been honored.
Ramon Yuen Hoi-man, deputy spokesman for the Democratic Party’s financial policy panel, is reportedly helping the affected investors and told SCMP and local police he had subsequently received a “threatening” phone call — which, however, reportedly did not explicitly mention Wong. Yuen is now urging the government to ratchet up its measures to regulate the crypto sector.

Readmore: https://cointelegraph.com/news/hong-kong-entrepreneur-accused-of-cheating-investors-in-crypto-mining-investment-scheme
7  Bitcoin / Press / [2019-01-03]Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock . . on: January 03, 2019, 02:12:24 PM
Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock Trading

Estonian digital trading platform DX Exchange will begin offering tokenized stocks on the Ethereum blockchain next week, the company confirmed in a press release Jan. 3.
DX, which will reportedly be the first exchange to offer such trading in a fully regulated environment in the European Union, will use Nasdaq’s Financial Information exchange (FIX) protocol to deliver the product.
According to the company’s press release, cryptocurrency users will be able to purchase tokens that will be backed by stocks in various major companies, including Google, Facebook and Amazon.
The shares will be purchased on users’ behalf by MPS MarketPlace Securities Ltd., with which DX has an exclusive partnership agreement.
“Digital stocks combine the best of both worlds: blockchain technology and traditional stock investments,” the company explained in the press release, continuing:

Readmore: https://cointelegraph.com/news/nasdaq-powered-exchange-to-launch-eu-regulated-tokenized-stock-trading
8  Alternate cryptocurrencies / Altcoin Discussion / [2018-12-29]Visa to Purchase Ripple Cross-Border Payments Partner Earthport on: December 29, 2018, 01:13:45 PM
American payment services giant Visa Inc. is acquiring Ripple partner Earthport Plc, a payment network for cross-border transactions, Reuters U.K. reported Dec. 27.

Founded in 1997, London-based Earthport is a financial services firm that offers cross-border payments service to banks and financial institutions. Earthport is a partner of tech company Ripple, where the partnership is aimed at integrating the Ripple protocol into the firm’s existing payment network to improve international transactions.

Per Reuters, the acquisition will be made for £198 million ($251 million), or 30 pence ($0.38) per each Earthport share, which exceeds the stock’s Monday closing price of 7.45 pence by over four times.

Earthport’s shares, which are listed on the London Stock Exchange’s secondary market, have reportedly slumped over 28 percent this year following growing losses and expenses. This reportedly made the company consider “fundamental” changes in its strategy.

In 2016, Earthport launched a single application programming interface (API) designed to connect banks to Ripple’s distributed ledger protocol when processing cross-border payments, according to financial and business news outlet Finextra. The development was reportedly set to enable banks to overcome budgetary, technology and compliance constraints.

Readmore: https://cointelegraph.com/news/visa-to-purchase-ripple-cross-border-payments-partner-earthport
9  Bitcoin / Press / [2018-12-26]Bank of America Reveals New Blockchain Patent Targeting Cash. . . on: December 26, 2018, 03:56:44 AM
Bank of America Reveals New Blockchain Patent Targeting Cash Handling

Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling, a new application published Dec. 25 confirms.

Originally submitted in June 2017, the patent references “banking systems controlled by data bearing records.”

“Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions,” its abstract reads.

BoA explains there remain communication difficulties in aspects of cash handling duties across banks’ huge operations, and suggests blockchain could help ease these.

“Cash handling devices may be used in operating centers and other locations to provide various functions, such as facilitating cash withdrawals and deposits,” the patent document continues.

Readmore: https://cointelegraph.com/news/bank-of-america-reveals-fresh-blockchain-patent-targeting-cash-handling
10  Bitcoin / Press / [2018-12-23]Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’ on: December 23, 2018, 03:59:04 AM
Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’

Joseph Lubin, co-founder of major cryptocurrency Ethereum (ETH), declared that he is “calling the cryptobottom of 2018” in a tweet Dec. 21.
According to Lubin, the crypto market’s bottom “is marked by an epic amount of fear, uncertainty, and doubt,” specifically from industry media and social commentators, which he refers to as “our friends in the 4th and crypto-5th estates.”
Continuing in a Twitter thread, the founder of Ethereum blockchain-focused software firm ConsenSys then evidently addressed his firms recently reported major layoffs:
“ConsenSys remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago.”
He stated that Consensys continues investing in projects — in its role as a blockchain tech incubator and venture firm — and hiring for internal projects that “remain core to our forward looking-business.”
In the same thread, Lubin complained about “an epic amount of conjecture and preemptive paranoia” concerning “situations journalists and bloggers don't have real data for, actual insight into, or understanding of.”

Readmore: https://cointelegraph.com/news/ethereum-co-founder-calls-the-cryptobottom-of-2018
11  Bitcoin / Press / [2018-12-21]Bloomberg: Facebook is Developing a Cryptocurrency for Transfers . . on: December 21, 2018, 04:14:34 AM
Bloomberg: Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India.

Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied.

The Indian remittances market is significant. According to data from the World Bank, the country received nearly $69 billion dollars in foreign remittances in 2017, or 2.8 percent of the country’s GDP.

WhatsApp enjoys widespread popularity in India, with over  200 million users in the country. The number of users in rural India  doubled last year as data and internet costs in the region declined.

Facebook’s stance on cryptocurrency has changed significantly over the last year. In January 2018, the social media network introduced a crypto ad ban, which it said was designed to prevent “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices.”

In May, David Marcus, the head of Facebook’s messaging app Messenger, announced the formation of a blockchain exploratory team at Facebook. At the time, Marcus was also a board member at San Francisco-based crypto exchange and wallet service Coinbase.

Marcus then wrote “I'm setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch.” Facebook repealed its blanket ban on crypto ads in late June, while upholding its ban on the promotion of initial coin offerings (ICOs).

In August, Marcus stepped down from Coinbase’s board in order to avoid a perceived conflict of interest. He said “Because of the new group I'm setting up at Facebook around blockchain, I've decided it was appropriate for me to resign...”

Source: https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp
12  Bitcoin / Press / [2018-12-16]Blockchain Payments’ Mass Adoption Is 3-5 Years Away, Says BitPay. . on: December 16, 2018, 10:24:59 AM
Blockchain Payments’ Mass Adoption Is 3-5 Years Away, Says BitPay CEO

The CEO of crypto merchant platform BitPay Stephen Pair stated that speculation on future adoption drives Bitcoin’s (BTC) price more than “actual utility,” in an interview on CNBC Dec. 13.

Speaking on the reasons behind Bitcoin’s current value, compared to its historic price highs, Pair told reporters:

“A very big component of the [Bitcoin’s] price is certainly speculation. It’s investors that are speculating on the future usage and adoption of this technology. I’m sure a small component of that price is the actual utility.”

When asked about a Bitcoin ETF’s potential to stimulate a price rally, Pair argued that “not just ETF adoption or ETF launches” could be catalysts for price movement, but that “adoption will push the prices higher,” adding optimistically:

“I do think we’ll see those kinds of prices at some point in the future, if history is any guide.”

Answering a question about blockchain-based currencies’ use in daily transactions, the BitPay CEO told CNBC that he expects such adoption to occur on a mass scale in under half a decade, stating that.

Readmore: https://cointelegraph.com/news/blockchain-payments-mass-adoption-is-3-5-years-away-says-bitpay-ceo
13  Bitcoin / Press / [2018-12-11]Galaxy Digital and Block.One Lead $30 Million Funding Round for US. on: December 11, 2018, 12:44:41 PM
Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank

Cryptocurrency-focused merchant bank Galaxy Digital and Block.One have led a $30 million Series A investment round in U.S. neo-banking platform Good Money. The news was confirmed by a press release Dec. 10.

Aiming to balance user ownership with part donation of profits and equity, Good Money provides banking services and a handful of associated financial instruments to U.S. account holders.

The investment came mostly via Galaxy and Block.One’s joint Galaxy EOS VC fund, one of several funds under the Block.One umbrella.

“Modern banking is a primary driver of so many issues we face as a society - from economic inequality, institutional racism, environmental destruction to political corruption,” Good Money founder Gunnar Lovelace commented in the press release.

The neo-banking market is quickly gaining ground over traditional providers both within and outside the U.S.

As Cointelegraph reported, European entities such as Revolut have sought to combine blockchain and cryptocurrency offerings with banking services, targeting banks’ high transfer fees to woo users out of their comfort zone.

Good Money follows a similar ethos, abandoning ATM fees and offering each user equity in the company. Ahead of its launch, it remains unknown whether the latest funding input creates room for cryptocurrency support.

Galaxy itself meanwhile has faced a tough year. It has emerged that the company lost $136 million through Q3 as the drop in cryptocurrency prices took its toll. CEO Michael Novogratz remains buoyant on Bitcoin (BTC) making a comeback, telling mainstream media an institutional investor influx should produce results by Q2, 2019.

Source: https://cointelegraph.com/news/galaxy-digital-and-blockone-lead-30-million-funding-round-for-us-disruptor-bank
14  Bitcoin / Press / [2018-12-9]South Korean Startup Presto to File Constitutional Appeal Against. . on: December 09, 2018, 02:19:38 PM
South Korean Startup Presto to File Constitutional Appeal Against Local ICO Ban

A South Korean blockchain startup, Presto, will reportedly file a constitutional appeal over the county’s ban on Initial Coin Offerings (ICOs), South Korean economic media outlet Sedaily reports Dec. 6.
Presto claims on its website that it provides a “total solution to development teams from website building to token issuing.” The startup was reportedly trying to run a Decentralized Autonomous Organization-based Initial Coin Offering (DAICO) in South Korea for the first time.
As Cointelegraph explained in a dedicated guide, DAICOs aim to improve the ICO fundraising method by integrating some features of Decentralized Autonomous Organizations (DAOs).
This fundraising method enables users to use smart contracts to vote for a refund of the funds if they stop trusting the developers or lose faith in the project, Sedaily notes.
As Cointelegraph reported, South Korea banned all ICOs in September last year. Sedaily reports that Presto’s CEO and founder, Kang Kyung-Won declared that the startup has “been hitting a snag as the government and the National Assembly have done nothing over the last one year since the government’s blanket ban on ICOs.”

Readmore: https://cointelegraph.com/news/south-korean-startup-presto-to-file-constitutional-appeal-against-local-ico-ban
15  Bitcoin / Press / [2018-12-7]SEC Delays Decision on Bitcoin ETF, Sets Deadline for Late February on: December 07, 2018, 04:34:46 AM
The United States Securities and Exchange Commission (SEC) has again postponed its decision on a Bitcoin (BTC) exchange-traded fund (ETF), according to an official document published Thursday, Dec. 6.
The SEC set the new deadline for Feb. 27, 2019 in order to further review the rule change proposals to list a Bitcoin ETF by investment firm VanEck and blockchain company SolidX on the Chicago Board Options Exchange (CBOE):
“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.”
Under the Securities and Exchange Act, the commission must “issue an order approving or disapproving the proposed rule change not later than 180 days” after the date of publication of notice. If the commission deems it necessary, it may subsequently extent that period by 60 days.
As the proposed rule change was first published in the Federal Register on July 2, 2018, the maximum period of consideration falls 240 days later, on Feb. 27, 2019.
Both VanEck and SolidX firms filed with the SEC to list a Bitcoin-based ETF on June 6. Subsequently in August, the commission delayed its decision on listing the ETF until Sept. 30.
The commission then requested further comments regarding the decision, claiming that the agency has not “reached any conclusions with respect to any of the issues” on the rule change.
In early October, the commission set a deadline for submitting comments about proposed rule changes related to a number of applications for Bitcoin ETFs.
Last week, the SEC published a memorandum on a meeting with representatives from VanEck, SolidX and CBOE. The applicants claimed there was precedent for a Bitcoin ETF based on other commodities with ETFs — like gold and crude oil.
Recently, SEC commissioner Hester Peirce, who is known for her pro-crypto stance, receiving the title of “Crypto Mom,” claimed that a Bitcoin ETF could come “tomorrow or in 20 years.” She said:

Source: https://cointelegraph.com/news/sec-delays-decision-on-bitcoin-etf-sets-deadline-for-late-february
16  Bitcoin / Press / [2018-12-1]Satoshi Nakamoto's P2P Profile Makes New Post, Befriends User on: December 01, 2018, 05:20:20 AM
An account once associated with Bitcoin (BTC) creator Satoshi Nakamoto on the non-profit global network P2P Foundation posted a one-word status update yesterday, Nov. 29.

While the account is tied to Nakamoto’s old email address satoshin@gmx.com — the same address that reportedly uploaded one of the early Bitcoin papers to P2P back in 2009 — the same email was allegedly hacked in November 2014, four years after Nakamoto’s withdrawal from traceable online activity in late 2010.

The meaning of yesterday’s update, which reads simply “nour,” in quotation marks, is not easily deciphered. The top result on Google search leads to urbandictionary.com, which defines “nour” as the following:

“The most loving, affectionate and caring person you'll ever meet. Extremely smart, funny and sensitive. A bit lost, still figuring out what she wants in life and how to reach it. Stubborn and not willing to take other peoples advice. When she smiles she makes you forget all the problems you have, her hug will give you an assurance that you have never felt and will never do.”

Another possibility is that “nour” is a transliteration of Arabic “نور” for “light,” also used to mean “light” or “fire” in ancient Hebrew (“נור,” “nour”) and Aramaic (“,נורא” “noura”): the latter is used in the “Haggadah,” the text used to set the order of the ritual for the Jewish festival of Passover.

Alongside the cryptic four-letters, the account also befriended a user named Wagner Tamanaha, whose profile indicates he is based in São Paulo, Brazil. Tamanaha has acknowledged the “befriending,” tweeting today in Portuguese, “Parece que o Satoshi reapareceu e estou sendo investigado :-) [“Looks like Satoshi's reappeared and I'm being investigated :-)”].

Publicly-shared posts on Tamanaha’s Facebook page suggest he is currently active in the Brazilian blockchain and crypto community, and his blogspot profile contains a post titled “Social networks with crypto media Steemit, coming together in the blockchain revolution,” dated November  2016.

Readmore: https://cointelegraph.com/news/nour-and-a-new-friend-satoshi-nakamotos-p2p-profile-makes-new-post-befriends-user
17  Bitcoin / Press / [2018-11-28]Texas Securities Commissioner Issues Cease and Desist Order to. . . on: November 28, 2018, 03:33:08 PM
Texas Securities Commissioner Issues Cease and Desist Order to Crypto Investment Firm

The Securities Commissioner of the U.S. State of Texas has issued an Emergency Cease & Desist Order (C&D) against crypto investment firm My Crypto Mine and its principal Mark Steven Royer, published to the regulator’s website Nov. 27.
The C&D claims that “sufficient evidence has been found” to substantiate that Royer, “acting on behalf of a white-collar criminal [Bruce Bise] and disbarred attorney [Samuel Mendez], offered tokens that are now nearly worthless” via a crypto investment scheme dubbed “BitQyk.” 

The document does not disclose details surrounding Bise’s status as a “white collar criminal,” but states that Mendez was disbarred as an attorney after “committing acts of dishonesty and moral turpitude by misappropriating funds.”

In May 2017, Royer is alleged to have joined Bise and Mendez in encouraging investors who “missed out” on Bitcoin to invest in the bitqy token, then priced at $0.02, but promised to rise to as high as $3.00 “in the indefinite future.” In truth, the token shed 99 percent of its value by Nov. 11, 2018. Investors who purchased the token at the time of Royer’s offering thus “lost almost the entirety of their principal investment.”

At present, Royer is principal of “purported” crypto trading and mining specialist My Crypto Mine. Without disclosing his previous affiliation with BitQyck, Bise and Mendez, Royer has instead claimed to investors that he has over thirty years’ experience in the IT sector and ten years of involvement in crypto, among other misleading material claims related to the My Crypto Mine itself.

My Crypto Mine, as per the C&D, is now “issuing a passive investment tied to cryptocurrency trading and mining that purports to provide guaranteed, lucrative returns.”

Readmore: https://cointelegraph.com/news/texas-securities-commissioner-issues-cease-and-desist-order-to-crypto-investment-firm
18  Bitcoin / Press / [2018-11-25]How OKEx Exchange Is Handling “Market Manipulation” Case on: November 25, 2018, 02:48:59 PM
How OKEx Exchange Is Handling “Market Manipulation” Case

Last week, OKEx exchange faced negative publicity and accusations of marketing manipulation after adjusting Bitcoin Cash (BCH) futures settlements during the notorious hard fork.

On November 20, the exchange responded to those allegations, essentially defending its decision and promising to provide evidence if the case goes to court. Curiously, it is at least the third time this year that OKEx has shown strange price volatility on their exchange.

Brief introduction to OKEx, major crypto futures trading player


OKEx was founded in 2017 as an international arm of the no longer operating Chinese exchange OKCoin. According to data from CoinMarketCap, it is currently the second largest player by volume, handling more than $1 billion worth of crypto trades per day. OKEx is based in Belize and has an operating hub in Hong Kong. Moreover, in April 2018, the company expanded its presence to Malta, citing their “confidence” in the local government’s approach to cryptocurrencies.

The exchange has been focusing on futures trading, which is basically an agreement to buy or sell an asset on a specific future date at a specific price, hence representing a risk management tool for investors.

On Nov. 3, 2017, OKEx launched its Bitcoin Cash (BCH) and Ethereum (ETH) futures trading, while its parent company OKCoin had been trading Bitcoin (BTC) futures since 2014. In December 2017, crypto futures received wider recognition after mainstream exchanges Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) introduced BTC futures trading to the wider market.

Readmore: https://cointelegraph.com/news/how-okex-exchange-is-handling-market-manipulation-case
19  Bitcoin / Press / [2018-11-23]BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019 on: November 23, 2018, 03:59:18 PM
The Chief Commercial Officer (COO) of global crypto payment processor BitPay has ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019. The COO, Sonny Singh, made his forecast during an interview with Bloomberg Nov. 22.

In the midst of a bearish market picture – with Bitcoin down over 32 percent in value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) start to launch their crypto-based investment products next year.

The financial giants’ entry into the space could catapult Bitcoin’s price to as high as $15,000-$20,000 by the end of 2019, Singh told reporters.

Aside from traditional financial incumbents’ launch of crypto-based products, Singh pointed to structural changes in the crypto market itself, with stalwart companies such as U.S. crypto exchange and wallet provider Coinbase and crypto bank Silvergate gearing up for possible initial public offerings (IPOs).

Readmore: https://cointelegraph.com/news/bitpay-coo-sonny-singh-bitcoin-could-hit-15-20k-by-end-of-2019
20  Bitcoin / Press / [2018-11-16]Report: Nvidia to See Q3 Strong Earnings, Crypto-Related GPU Sales. on: November 16, 2018, 06:06:08 AM
Report: Nvidia to See Q3 Strong Earnings, Crypto-Related GPU Sales Remain in Downtrend

Experts from analytical firm Trefis have forecasted increased sales of Nvidia’s graphics processing units (GPUs) at the end of the third quarter (Q3) of this year, Forbes reported Nov. 13. Trefis notes that, while overall GPU sales will be up, sales from cryptocurrency-related activities will remain in a downtrend.

American GPU manufacturer Nvidia is purportedly set to release its Q3 results on Nov. 15, and Trefis experts have predicted an earnings growth by slightly over 20 percent on a year-on-year basis.

Revenues will primarily be driven by Nvidia’s gaming GPUs, which are in higher demand due to the new Max-Q technology; and the Datacenter, which is experiencing a strong demand for its Volta architecture, the analysts say.

The experts also forecast Tegra Processors and GPU segment growth “in the high teens.” Tegra Processor revenues will reportedly grow to $490 million in Q3, which — the experts explain — is led by Automotive and System on a Chip (SOC) modules for the Nintendo Switch gaming console.

Despite the overall positive outlook for GPU revenues, the report notes the decline in sales associated with crypto-related activities, as well as the impact of U.S. tariffs on some Chinese goods, which were introduced earlier this year.

The analysts reportedly expect consolidated revenues to be a bit under $3.10 billion in Q3, of which 84 percent could be attributed to GPUs, while Tegra Processors will make up for the rest. The report further explains:

“We forecast the [earnings per share] to be $1.63 in Q3, and $7.09 for the full year 2018. We use a [trailing twelve months] price to earnings multiple of 35 times to arrive at our price estimate of $248 for Nvidia. This implies a premium of over 30 percent to the current market price.”

As Cointelegraph previously reported, Nvidia’s stock price declined more than five percent in the extended session following an announcement of the company’s Q3 estimates. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year.

Nvidia then reported that crypto mining sales were significantly lower than expected in Q2, adding that it does not expect to make significant blockchain-related sales for the rest of the year.

Meanwhile, Trefis experts outline an over 20 percent decline in Nvidia’s stock during the past month, which reportedly follows the weak Q3 figures from some tech stocks and the market’s reaction to the tariffs.

Source: https://cointelegraph.com/news/report-nvidia-to-see-q3-strong-earnings-crypto-related-gpu-sales-remain-in-downtrend
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