Category Archives: Crypto News

Coinbase Ditches Its Index Fund in Favor of a New Retail Feature

Coinbase – one of the largest digital currency exchanges in the U.S. – is nixing its index fund designed for accredited investors and shifting its focus to a new retail product, The Block reports Coinbase is shutting down its fund aimed at big investors as it pivots to a new retail product . Coinbase first announced its fund back in March of 2018. The project was designed to give institutional investors easy access to the digital currency market by offering them an index that represents a basket of […]

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Singapore-based Blockchain Consortium Buys Majority Share in Bithumb

Singapore-based BK Global Consortium has paid 400 billion won (approximately $350 million) for a majority stake in South Korean Bithumb, the world’s third-largest cryptocurrency exchange, according to a local news outlet. BK Global Consortium is a blockchain investment firm under BK Global, a Singapore plastic surgery medical group owned by Kim Byung-Gun. The Consortium had held a minority position in Bithumb for a while and was the exchange’s fifth largest shareholder until today’s announcement. The new deal will see the consortium acquire a “50 percent plus one […]

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Coinbase Has Just Added ZRX, Its First ERC-20 Token

Making good on a promise it made back in March of this year, Coinbase has just added its first ERC-20 token. ZRX, the token of the 0x (pronounced “zero x”) protocol began trading on Coinbase Pro (formerly GDAX), the exchange’s professional trading platform, on October 11, 2018.   “Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York,” […]

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Crypto Cybercrime Has Tripled Since 2017; Nearly $1 Billion Lost in 2018

Most digital exchanges are unregulated and therefore unqualified to safely process cryptocurrency transactions. They don’t employ necessary know-your-customer (KYC) tactics, and roughly $1 billion in digital asset funds have been stolen since the start of 2018. These are the unsettling claims made by a new report released by blockchain and virtual currency forensics firm CipherTrace. The most popular target currency still appears to be bitcoin, and one of the document’s key findings is that roughly 97 percent of bitcoin used in illegal transactions or that stem from […]

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Roubini Faces Off With Coin Center’s Van Valkenburgh at Senate Hearing

Nouriel Roubini, an economist best known for his predictions of the 2008 housing bubble, and Peter Van Valkenburgh, Coin Center’s director of research, testified before the U.S. Senate Committee on Banking, Housing and Community Affairs in a hearing on cryptocurrency and blockchain on October 11, 2018. “We need to sort through the static,” said Banking Committee Chair Idaho Republican Mike Crapo, describing a need to better understand both the opportunities and the challenges in cryptoland. The testimony comes at a time when bitcoin has lost two-thirds of […]

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SEC Obtains Emergency Court Order to Halt Questionable ICO

The U.S. Securities and Exchange Commission (SEC) has obtained an emergency court order issuing the stoppage of a recently planned initial coin offering (ICO) by Blockvest LLC and its founder Reginald Buddy Ringgold III, who falsely advertised that the token sale was approved by the SEC. According to the SEC, Blockvest has repeatedly violated both anti-fraud and securities registration provisions by incorrectly claiming that its ICO had obtained regulatory approval from Commission officials. The order further states that Ringgold — who also works under the name Rasool […]

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“This Isn’t How We Saw This Going”: Civil’s Token Sale Is Treading Water

Despite a flurry of media attention surrounding the project, Civil, an Ethereum-based platform aiming to save journalism, can’t seem to get enough buyers for its token. The project released a transparency report showing the figures behind its CVL token sale, which ends at 11:59 p.m. EST on Monday, October 15, 2018, and the numbers do not look good. “This isn’t how we saw this going,” Civil founder Matthew Iles wrote on October 10. “We don’t know if it will work.” The project needs to raise $8 million […]

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Report Links 74% of Bitcoin Mining to China, Sees Threat to Network

Bitcoin, the world’s most sought-after cryptocurrency, could be at the wish and whim of Asia’s economic giant. A recent study titled “The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin,” jointly researched by Princeton University and Florida International University researchers, suggests China’s mining scene has an overwhelming influence over Bitcoin, something that could invite network manipulation. China, which the researchers refer to as the “most powerful adversary to Bitcoin,” has long been known as the country with the largest numbers of miners in the […]

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Blockchain Business in Crypto Valley Has Doubled Since Last Year: Report

The number of blockchain-related companies in Switzerland and Liechtenstein has doubled in the last year, according to a new study published by CV VC. The Zug-based firm, in partnership with Strategy& (PwC’s global consulting arm) and inacta, compiled information about the top 50 blockchain and digital asset companies between the two countries. The report also highlights blockchain activity in Zug, Switzerland’s Crypto Valley — a moniker it’s earned for its resemblance to the United States’ own Silicon Valley. While Crypto Valley originated in Zug, it has since […]

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Blockstream’s Liquid Network for “High Value” Bitcoin Payments Is Live

The Liquid Network is up and running. More than a year after its conceptual introduction at the Blockchain Association of Canada’s Government Forum in Ottawa, Blockstream’s bitcoin scaling solution made its public debut on October 10, 2018, after going live among its partners on September 27. Described by its creators as “an inter-exchange settlement network,” Liquid is Blockstream’s complement to Lightning. However, whereas Lightning is designed for micropayments, Blockstream’s COO Samson Mow told Bitcoin Magazine, “Liquid is designed to facilitate fast and reliable high value transfers.” “Liquid […]

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