Monthly Archives: August 2018

Breaking: SEC Is Reviewing The Nine Bitcoin-Backed ETF Denials

The Bitcoin and crypto-backed ETF saga has continued, with the SEC recently revealing that it would be reconsidering nine proposals that were denied on August 23rd. As reported by Ethereum World News, nine ETF applications from ProShares, Direxion, and GraniteShares were rejected yesterday in a triple-blow to the stomachs of crypto investors, with the SEC citing concerns of manipulation and a lack of “significant size” markets to back up BTC’s spot price. However, with a recent development pointed out by CoinDesk, the U.S. Securities and Exchange Commission will […]

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Binance Introduces Blockchain Incubator To Bolster Crypto Startups

Even amidst falling prices and mixed investor sentiment, Binance, the world’s largest exchange, has trudged forward, recently launching an in-house incubation program for early-stage crypto and blockchain ventures. #Binance Labs Incubation Programhttps://t.co/E0E3hzLI1l pic.twitter.com/vTjqkQqDJF — Binance (@binance) August 22, 2018 This most recent announcement comes on the back of the firm’s move to launch a $1 billion venture capital fund in early-June, as reported by Ethereum World News previously. While the incubator was alluded to in June, Binance has finally come out to release the details regarding this new […]

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Not a Done Deal: U.S. SEC “Will Review” Most Recent ETF Decisions

The United States Securities and Exchange Commission will reevaluate its recent round of bitcoin ETF rejections. This Wednesday, August 22, 2018, the SEC denied 9 ETF proposals from ProShares, GraniteShares and Direxion in three separate orders. But consistent with a rule that allows the SEC’s Chairman and Commissioners to review decisions delegated to its staff, these disapproval orders are up for reviewal. A letter written by SEC secretary Brent J. Fields to Eugene Schlanger of the New York Stock Exchange details the technicalities of this process: “On […]

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New Research Claims Satoshi Mined Far Fewer Bitcoins Than Previously Thought

Based on five-year-old research, Bitcoin enthusiasts and critics alike have often held that Satoshi Nakamoto originally mined some 1,000,000 bitcoin in the early days of the network. New numbers from BitMEX Research, however, demonstrates this number could be off by 300,000-400,000 total bitcoin. Breaking Down Lerner’s Research The oft-cited 1,000,000 coins estimation comes from research conducted by Bitcoin developer and RSK founder Sergio Demian Lerner and presented on Bitcointalk in 2013. Lerner came to this conclusion by examining the Total Network Strength of Bitcoin’s blockchain in 2009. […]

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Liechtenstein Bank to Launch Its Own Cryptocurrency Backed by the Swiss Franc

Union Bank AG, a bank in Liechtenstein that offers corporate banking services mainly to companies based in Germany, Switzerland, Austria and the Middle East, has announced that it will be launching its own security tokens in alignment with Liechtenstein’s regulatory authority, FMA, and subsequently its cryptocurrency, “Union Bank payment coin,” which is fully backed by a fiat currency – the Swiss franc. Also read: Regulations Round-Up: Malta Clarifies Law, UK Wealth Managers Urge FCA Action Fiat-Backed Crypto to Disrupt International Transactions The virtual currency would reportedly be a […]

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China Blocks Access to Over 120 Offshore Digital Currency Exchanges

China is continuing its crackdown on bitcoin and cryptocurrency-related ventures. The country is now blocking access to more than 120 offshore cryptocurrency exchanges utilized for trading purposes by mainland customers. In addition, officials are also looking to shut down websites pertaining to both cryptocurrencies and initial coin offerings (ICOs), and to prevent businesses from accepting payments in digital assets. ICOs were initially banned last September and were described as “unauthorized” and “illegal” fundraising activities. That same month, Chinese regulators ordered all cryptocurrency exchanges within the country to […]

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SEC rejects Bitcoin ETF once again (will it ever approve?)

Two ETF’s filed by ProShares for tracking bitcoin futures were rejected yesterday, adding to further pessimism in an already highly bearish crypto market. The news came as no surprise to the Bitcoin investors, as the anticipated announcement and rejected had already seemed to be priced in to become an official confirmation was made. Like the Winklevoss ETF before it, ProShares ETF was rejected primarily because of the SEC’s belief that both applications do not satisfy “the requirement that a national securities exchange’s rules be designed to prevent […]

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Berlin Blockchain Week Aims to Expose a Vibrant Tech Community to the World

Taking place between the 5-11 September, the Berlin blockchain community have organised the Berlin Blockchain Week. It it is looking to open up communication and education between innovators in the blockchain space. Describing itself as an “agnostic movement,” that pushes mass adoption of the market through “first hand information about the industry,” BBW will centre around a series of events, exposing a vibrant tech community to the world who will gather in Berlin. Born from an ETHBerlin meeting, the Berlin blockchain community realised they needed to step […]

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Noise Complaints May Cause Norwegian Bitcoin Mining Center to Shut Down

Norwegian bitcoin miner Kryptovault is facing a shutdown of its operations due to extensive noise complaints from locals and a lack of proper paperwork. The company, which is headquartered in a former paper mill in Norway’s capital of Oslo, uses more than 40MW of power to drive an arsenal of nearly 10,000 computers. The staff could mine several million Norwegian kroners’ worth of bitcoin per week, but financial promise isn’t enough to keep residents interested. “The sound of the factory comes 24 hours a day, 365 days […]

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Crowdfunder Indiegogo Launches $12M Security Token Sale

Indiegogo, a popular crowdfunding site, has recently made another foray into the crypto industry, facilitating the sale of asset-backed tokens, which are classified as securities by regulators, on its platform. According to information relayed by The Verge, Indiegogo has commenced the sale of shares of the St.Regis Aspen Resort. The Colorado-based hotel is reportedly looking to raise upwards of $12 million for its shares, which have taken the form of “Aspen Digital tokens” in this unexpected move. Commencing on August 24th, US-based accredited investors can buy these […]

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