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COBINHOOD Announces Jill Shih as Chief Executive Officer

Leading Cryptocurrency Service Platform Embarks on New Era of Blockchain Disruption and Leadership NEW YORK, Nov. 15, 2018 /PRNewswire/ -- COBINHOOD, the next-generation cryptocurrency service platform and zero-trading-fee exchange, today announced the addition of Jill Shih to its team as Chief Executive Officer. Shih brings over 18 years of extensive experience in product user experience, project management, and development across mobile internet and software industries, making her formidable addition to the COBINHOOD team. The past ten years have been a technology boom for China, and Shih has played a significant role as part of the next generation of technology companies in the country. Before joining COBINHOOOD, Shih built and managed cross-region teams at corporations such as Cheetah Mobile, NQ Mobile, Microsoft and Trend Micro in multiple countries in Asia including China, Taiwan and Japan. While at Cheetah Mobile, Shih managed several teams of over 200 employees with skill sets in various areas of the technology industry. Much of Shih's role consisted of team building and reorganization, while ensuring that innovation and adaptability remained a key focus for employees. Prior to that, Shih gained hands-on software development experience at Sprint in the United States. "I am honored and excited to become ...Full story available on Benzinga.com
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COBINHOOD’s DEXON Decentralized Exchange Launches Official Testnet for Developers

The DEXON foundation is behind the development of the DEXON exchange. It recently announced that it would launch its testnet. This will make it possible for developers to benefit from the platform. It’s finally live! DEXON Testnet launches today Come and join us at @dexonfoundation https://t.co/0Ttto35Lz7 — COBINHOOD (@COBINHOOD) November 12, 2018 The Testnet DEXON testnet will be a tool that makes it possible for developers to create DApps that are Ethereum compatible. This will be used as proofs of concept to show what DEXON can do. While the tokens will have no value, they will be used to test trades between DEXON nodes. This simulated blocklattice will have the same function as the DEXON mainnet. DEXON Creation DEXON was created in 2018 by the COBINHOOD team. COBINHOOD is a crypto platform that offers various services and serves as an exchange. The aim is to scale the blockchain using a credible and secure blocklattice system. This testnet will work together with the DEXON explorer called DEXSCAN. The explorer will be user-friendly. It will be used to showcase, confirm, and validate transactions. There will also be a DEXON wallet called the DeEKuSan. The wallet will make it possible to enter the blocklattice using a browser, run DApps, send tokens, and view transactions. The testnet performs at 10K TPS, and it has three-second latency. This is a record-breaking result in the crypto world. A Word from the Leadership According to Popo Chen, the COBINHOOD CEO, the team working on DEXON is finally ready to make their first step in bringing DApps to the masses. This testnet launch is an important milestone for them. It will help to create proof of concepts for the company’s blocklattice ecosystem. With the launch, the CEO said he hoped they would continue spreading the benefits of the technology to the masses. This would be achieved by educating the developer community. He added that launching the testnet would be important for DEXON. It would ensure that developers have firsthand experience of this technology. Funding for DEXON Besides the $20 million funding that was led by IDG Capital in August, DEXON announced that its transaction speed for 50 blocks per second. This occurred with the aid of 25 nodes . It has an estimated one million transactions a second and with a block size of 2MB, it means each transaction is about 100 bytes. About COBINHOOD COBINHOOD is a crypto exchange that launched in December 2017. The exchange has zero transaction fees. To offer the zero fee transactions, the exchange charges for margin loans, ICO fees, and other subscription features. To deposit and withdraw funds on the exchange, a user has to go through a strict verification process. Once a user signs up, they can pick the level of verification to get past various limits. While anyone can sign up, there are certain places where there may be limited or no access. This could be due to regulatory issues. The exchange actively works to reach the entire world. Popo Chen, the CEO of this exchange is just 27 years old. He skipped a year of high school to join the National Taiwan University.
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Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn

The COBINHOOD token ‘COB’ has been reported across various sources such as CoinMarketCap as having appreciated significantly over the past 10-12 hours at the time of writing, when compared to the same trading values from the previous 24 hours. Current token value stands at $0.024001, a reported 6.81% increase in average trading price compared to The post Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn appeared first on CCN
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COBINHOOD Crypto Exchange Adds Stablecoins GUSD, TUSD, DAI and PAX to Reduce Volatility

COBINHOOD is a next-gen zero-fee exchange. It recently revealed that it had added four stablecoins. The stablecoins are the MakerDao (DAI), the Gemini Dollar (GUSD), the TrueUSD (TUSD), and the Paxos Standard Token (PAX). Each stable coin has unique features. However, they all lead to better market stability. 4 new #stablecoins coming to COBINHOOD $GUSD $DAI $PAX $TUSD Plus, a quick update on CMT staking reward on COBINHOOD, and importantly, COB holder benefits from our ICO clients's @simplyBrand_io and @ZeuxApp . WATCH https://t.co/X0OZdi3hHI — COBINHOOD (@COBINHOOD) November 8, 2018 Why Stablecoins Standard crypto can often experience huge prices changes. In some cases, a coin can triple its value or lose nearly half of it in just a week. Stablecoins help to stabilize the market. The coins are usually pegged to a fiat currency such as EUR or USD. In some cases, they are even pegged to oil or gold. The PAX, DAI, TUSD, and GUSD will be offered to all users of COBINHOOD for purposes of trading, depositing, and withdrawals. Unique Features Of The Stablecoins • Gemini Dollar (GUSD) The GUSD holds the title of being the first stablecoin to be regulated. It was created on the Ethereum network and uses the ERC20 standard. The Gemini trust company in NY issued this stablecoin. This stablecoin is pegged to the USD. The NY State Department of Financial Services and the blockchain back it. Trading pairs for this token are GUSD/BT and GUSD/USDT. • MakerDao (DAI) It is an ERC20 stablecoin also pegged to the USD. No central group backs it. The company that created the coin utilizes a platform for smart contracts, various internal and external factors, CPDs, and an automated feedback mechanism to ensure the value of the coin is stable. • The Paxos Standard Token (PAX) The PAX is based on the ERC20 standard and is powered by the Ethereum network. It is pegged to the USD. The Paxos Trust Company issues this stablecoin. The NY Start Department of Financial Services regulates it. On COBINHOOD, there are trading pairs such as PAX/BTC and PAX/USDT. • TrueUSD (TUSD) This ERC20 stablecoin is backed by USD. It is legally compliant and verified by third parties. Each coin is backed fully by USD. The money is held in banks and major trust firms. Trading pairs on this exchange are TUSD/BTC and TUSD/USDT. What The Top Brass Had To Say According to the COBINHOOD cofounder, the main issue is constant fluctuations of the token prices. To handle the problems of instability, the exchange added these stablecoins to show the community they were listening to them. The aim, according to him, is to ensure crypto trading is comfortable for anyone. About COBINHOOD COBINHOOD was a revolutionary exchange that was launched in 2017. The exchange is home to the first zero-fee crypto trading. Besides that, speeds are quite high at this exchange. Two tech leaders Wei-Ning Huang, a former Google engineer, and Popo Chen, founder of 17 Media, created the company. The aim is to create a financial hub for the blockchain world. The COBINHOOD exchange has a belief that the blockchain will have a lasting impact on capital markets and business organizations. Thus, this exchange wants to ensure that when the change happens, they will be at the fore.
Bitcoin Exchange Guide

The Daily: Binance Launches Analysis Division, Cobinhood Adds 4 Stablecoins

In this edition of The Daily, we cover the launch of Binance Research, a new analysis division that will produce in-depth reports for customers of the leading cryptocurrency trading platform. We also look at Cobinhood’s decision to add several stablecoins to its platform and the reasoning behind the move. In addition, we focus on SWIFT’s denial of rumors that it has partnered with Ripple, as well as a plot of virtual land that was sold on Decentraland for a record amount of money.   Also read: Security Experts Rank Exchanges by Safety, Malta Dominates Trade Binance Research Starts With Two Reports Binance, currently the largest digital asset exchange in terms of daily trading volume, has launched a new analysis division. Binance Research will focus on creating institutional-grade research reports, the trading platform said in an announcement on its website. Binance has referred to the service as a new pillar of its ecosystem and claims it’s going to bring more transparency, while also improving the quality of information that’s available in the cryptocurrency space. Binance Research has already produced two detailed reports. The first one is ­devoted to Loom Network, a solution for Ethereum that allows for scalable user-facing dapps and games. The second report covers Gochain, a scalable and decentralized blockchain that supports smart contracts and distributed applications. The research division’s next report will be about Pundi X, a company that has built a platform enabling cryptocurrency payments through POS terminals. This past summer, the cryptocurrency exchange also launched an educational portal called Binance Academy. The platform was announced as an open-access learning hub supported by the team of the company. Binance was established in China last year and has since expanded globally to become the leading trading platform in the crypto space. Cobinhood Announces Support for Stablecoins Cobinhood, a platform that exchanges cryptocurrencies without trading fees, has announced that it’s adding four stablecoins to its offerings. Starting Nov. 9, users will be able to trade gemini dollar (GUSD), makerdao (DAI), the paxos standard token (PAX) and trueusd (TUSD). In a press release, Cobinhood explained its decision to list the coins. It noted that each one of them has unique features, but said all of them are designed to ensure greater market stability, as regular cryptocurrencies can be particularly volatile. The Taiwanese company also explained that the newly added tokens will be available on its platform for deposits, withdrawals and trading. “We are increasing the presence of stablecoins on the Cobinhood exchange so the community understands that their voices have been heard and stability is being made possible,” said Wei-Ning Huang, co-founder of Cobinhood. “Our mission is to make the space more approachable for anyone who wants to participate.” SWIFT Denies Rumors of Partnership With Ripple SWIFT, the international consortium that operates a worldwide network enabling banks to transmit messages and financial transactions, has denied recent rumors about the integration of Ripplenet technologies as part of its next system upgrade. A spokesperson for SWIFT told Finance Magnates the changes had nothing to do with Ripple. The upcoming upgrade involves an add-on to SWIFT’s global payments innovation (GPI) system. The standard was introduced in January of last year in order to increase the operating speed of the payment network, which has been used in correspondent banking for decades. The upgrade was announced this past spring and is scheduled to be implemented on Nov. 18. Plot of Virtual Land Sold for $215,000 An investor recently purchased a 126-parcel plot of land on Decentraland for 2.7 million mana, the virtual reality platform’s native token. The acquisition, valued at roughly $215,000, sets a new record for Decentraland, which is owned by its users. The estate was purchased via the platform’s marketplace. It allows users to trade “LAND parcels,” which represent non-fungible digital assets maintained through a smart contract on the Ethereum network. The virtual reality project recently launched a new version of Agora, a platform that allows holders of mana tokens to vote on important matters. One of the first questions they are being asked concerns the time frame for the next land auction, when 9,000 unowned parcels of land will be made available to the community. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Binance Launches Analysis Division, Cobinhood Adds 4 Stablecoins appeared first on Bitcoin News.
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A flurry of Stablecoins find listing of COBINHOOD

The demand for stablecoins doesn’t seem to be ending as nearly all exchanges are adding them to take advantage of the stablecoin craze among its users.  The recent addition to the list of exchanges is Cobinhood which has added four stablecoins to its platform. GUSD, DAI, PAX and TUSD now available on Cobinhood Cobinhood, a cryptocurrency service platform, and exchange, in order to satiate the growing demand of stablecoins among the users announced that it is adding four (4) stable coins on its exchange: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). THe exchange believes that each of these stablecoins has a unique set of features that achieve same end result: increased market stability and user flexibility. On this latest addition, the Co-Founder of Cobinhood, Wei-Ning Huang, was quoted saying     “The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.” Stablecoins have been the recent trend among the crypto enthusiasts apart from providing stability they also seem to be a bridge between the traditional financial world and the cryptoshpere. Over past month or so a lot of exchanges have added stablecoins. Last month Huobi also had announced it would list four U.S. dollar-pegged cryptocurrencies this week. In the announcement then, the Singapore-based exchange which currently has the fourth-largest by trading volume had said that it would open deposits and withdrawal for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19. Another exchange, Liquid, which known to be a trading platform that bridges fiat and crypto, this week had added a couple of stablecoins. The exchange had announced that it has added multiple stablecoins including Gemini Dollar (GUSD) and Circle’s USDC. In early November Circle, in its official blog post, had said that not less than 12 exchanges  have expressed their plans of joining the ecosystem for the incorporation of the USD coin. Some of the exchanges that were named in the blogpost were The exchanges are BitMart, Fcoin, Gatecoin, Hanbitco, Hotbit, SWIFT, OCP Capital, DDEX and Bit-Z. Others that had shown interest for USDC also included Nexo a crypto loans provider and crypto wallets providers BitKan and Tokenary Looking at the recent listings of Stablecoins one can definitely say their demand is at the peak now and if the inference of them being a bridge between the crypto world and traditional financial world is true, we can be sure that this money would soon be converted to cryptos. What is your view on this Stablecoin frenzy. Is it a fad or are these coins here to stay? Do let us know your views on the same.   The post A flurry of Stablecoins find listing of COBINHOOD appeared first on Coingape.
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US CFTC Plans to Seek Public Feedback to Better Understand Ethereum Blockchain

The latest report on Ethereum future contract unveiled that the Commodity Futures Trading Commission (CFTC) is looking for an in-depth analysis of Etherum blockchain. In order to improve the commission’s understanding of Ethereum and its underlying technology, the CFTC has announced its intention to publish a respective Request for Information (RFI) with the Federal Register. According to the statement: “The Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback in order to better inform the Commission’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely Ether and its use on the Ethereum Network.” The Commission has put up a total of 25 questions which include topics such as the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin; the use of the Ethereum network by the developer community; scalability challenges, if any, of the Ethereum network; proof of work and proof of stake; similarities and differences in the governance of Ethereum and bitcoin networks; introduction of derivative contracts on Ether; and security issues, among others. Notably, one question asks: “How would the introduction of derivative contracts on ether potentially change or modify the incentive structures that underlie a proof-of-stake model?” A number of questions following this go further into detail about how the ether market might impact a derivatives market built on top of it – or vice versa. The CFTC said the comments received will benefit LabCFTC, the CFTC’s Fintech initiative, and help to inform the Commission’s understanding of these emerging technologies.
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Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market

Currently, when crypto believers generalize every Wall Street banker to be a Bitcoin critic, a celebrated hedge fund manager and former Goldman Sachs executive changed his perception. Mike Novogratz is a now a name beyond the mainstream finance, and perhaps among the only consistent voices speaking in favor of bitcoin even after its 80 percent-plus drop this year. The 54-year old financial veteran sat before Bloomberg’s Erik Schatzker recently to discuss how the crypto market crash impacted their ventures and how he remains confident about crypto’s long-term potential. Novogratz admitted being on the losing side, stating that his cryptocurrency merchant bank, dubbed Galaxy Digital Holdings Ltd, brought $136 million in losses to its investors when he was raising funds for it. Nevertheless, the crypto crash couldn’t put Galaxy beneath the grounds, and the project was still on its way to – at least – break-even in 2019, he explained. “We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” Digital Gold in Making Analysts have continuously argued whether or not bitcoin has a use-case in the mainstream. A majority of them believes that the digital asset’s lower adoption make it an overvalued bubble similar to the infamous Tulipmania from the Dutch Golden age. Investors have entered bitcoin markets on a promise of getting rich quickly, and it is no more stable than a pyramid scheme, i.e., it is all horns but no product. Novogratz, on the other hand, interpreted bitcoin as a digital gold in the making, counterarguing that it is one of the only crypto assets that “gets to be a legal pyramid scheme.” Because, to him, it is the belief that denotes value to a store of value- nothing more, nothing less. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” reasoned Novogratz. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” As a metal, a store of value asset like gold does have plenty of use cases. Most notably, it is a good reflector of electromagnetic radiation such as radio and infrared rays, as well as visible light. Therefore, gold makes an ideal metal when it comes to protecting artificial satellites, astronauts’ helmets and in electronic warfare planes. But, in reality, only about 17% of the mined gold gets used in industrial applications – minus jewelry – while the rest gets stored inside vaults. That being said, the value of gold bullion itself is 83% speculation and 17% use case. Bitcoin, according to Novogratz, strictly possesses such characteristics. “The fact that David Swensen [Yale University’s chief investment officer] put an investment into Bitcoin, with his reputation on the line, his endowment on the line, tells you something. Some of the smartest people in the investing world think it’s a store of value,” Novogratz asserted. Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market was last modified: December 12th, 2018 by Davit BabayanThe post Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market appeared first on NewsBTC.
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Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now

CoinSpeaker Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now A former partner at Goldman Sachs who is popularly called the “pretty face of cryptocurrency” Mike Novogratz, said that he is now the ugly face of the bust. Talking to Bloomberg, he pointed at SEC sanctions on certain ICOs and the uncertainty surrounding Bitcoin Cash’s hard fork as the reasons behind Bitcoin’s drastic fall from $6,200 to $3,400. However, Novogratz remains confident that Bitcoin will make a comeback. “I do believe Bitcoin is going to be digital gold. We have a business that we think can break even next year, if not make money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” First, says Novogratz, they thought of crypto as of a bear market. “I went into it thinking in the long run crypto is going to be a real structural shift in the world and I can just hedge my portfolio. And to be fair, we did a really great job not losing money the first 60 percent down. What you forget is that a market like Bitcoin that’s down 84 percent has dropped 60 percent—and then another 60 percent. That’s where the pain happens. You start buying Ether again, because it’s only $400 after being at $1,300. But then it drops to $100, and you’ve lost 75 percent of your money. We haven’t done horribly in that context, but we’re still down.” He then explains what he thinks it’s next for crypto-world. He invested in a company called High Fidelity, which is a virtual world. “Me and you, we’ll sit down, and we’ll have virtual beers. People think I’m crazy when I say that, but Second Life does $500 million a year of GDP, real money traded back and forth in a virtual world with old technology. That’ll be the first use case where blockchain really works.” One of Novogratz ventures in the field of digital currency is the cryptocurrency bank Galaxy Digital LP which began trading back on August 1st, 2018. The bank was off to a very slippery start, losing 20 percent per share in a single day, which added to the company’s overall estimated losses of about $134 million in Q1 of 2018. At the time, the former Goldman Sachs partner once again said that he thinks “we’ve pretty much bottomed.” However, the market has plummeted since, as Bitcoin lost roughly another 60 percent of its value. Yet, Novogratz says that the situation is “not as dramatically as one would think.” Bitcoin Price Rise was Like a Drug High Addressing the fears surrounding Bitcoin he explains the price rise as a drug, “an instance of testosterone boiling over and its fall led to pessimism and rampant fear.” He said: “That was a drug, and I don’t say that lightly…there’s the pessimism, and the fear, and the “Oh my God, it’s going to zero.” But it’s not going to zero. We’re at the methadone clinic.” Novogratz had already been saying that the Bitcoin could hold its position till the end of the year and maybe rise, but then disaster struck. He thought Bitcoin, “was going to hold at $6,200…. but then Bitcoin Cash decided to fork again.” He also mentioned that ICO legislation by the SEC increased investor panic: “The SEC came out and sanctioned a few ICOs and said- oh, by the way, your investors can sue for damages. That scared the heck out of a lot of people.” Novogratz further added that “the ICO market is pretty much dead right now,” however, the regulatory body, “doesn’t want to kill this innovation.” Many crypto proponents of Bitcoin have equated the top crypto to digital gold, Novogratz is one among them, he said: “That means Bitcoin is the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is. All the gold ever mined in the history of the world fits in an Olympic-size swimming pool. You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is. While I believe in the underlying technology and believe in the crypto movement, when prices get stupid, I sell. A lot of my friends in crypto just couldn’t let go. They were saying that this is going to change the world. Revolutions don’t happen overnight. I’d be walking down the street, and people would come up to me wanting to take selfies. That’s when I started to think, OK, this is weird.” Always Cautious About Bitcoin as a Currency It’s more than obvious that he is still being cautious. A year ago, he was known as one of the biggest pro-bitcoin advocates but always saying that bitcoin will be difficult for governments to shut down. “I’ve got concern that if price movements go higher we’re going to get more regulation, but I think it’s hard to shut down. I don’t think that’s a probability. Banks will be slow to move into the industry,” Novogratz then said, adding that he “doesn’t see quick adoption of bitcoin as a currency.“ He also said that one of the big risks out there right now is that prices are moving so fast that regulators are going to get nervous. “I could legitimately see bitcoin go $13,000, $14,000, $20,000, $25,000 and see somebody balk.” He also warned on the fact that right now most regulators, including those in the U.S., are working with the digital currency system and are “intrigued” by it. Today, one thing where Novogratz remains firm is that he reiterates his view saying institutional entry is key for the Bitcoin price surge. Unless that happens, a sustainable price surge in Bitcoin seems a distant dream. Novogratz says that perhaps we can see a significant institutional money flow in the first half of next year, 2019. Steady Growth or Nuclear Winter for Crytocurrency? Despite a huge cryptocurrency market crash, VC billionaire Tim Draper believes, the value of Bitcoin will keep going higher in the upcoming years. Speaking to Thiel Macro’s Mike Green earlier this month, the billionaire said he believes virtual currencies will eventually overtake fiat currency, making up two-thirds of the world’s currency value. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” Draper told On the other hand, the billionaire investor and venture capitalist Jim Breyer believes that the promise offered by the technology is too great for it to be permanently buried by short-term market movements. Breyer kept saying that the technology is too big to be dismissed just because of a temporary bear market. He warned that “we’re close to a nuclear winter right now with cryptocurrency.” Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now
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Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed

Anger continues to engulf cryptocurrency trading platform Cubits after executives suddenly announced the company was bankrupt, blocking all user funds. Cubits Owner: Funds Recovery ‘Unsuccessful’ In a press release dated December 11, Dooga Ltd., the UK-based entity trading as Cubits, claimed “collusion” which resulted in a “criminal act” involving the loss of €29 million ($33 million) in February 2018 had forced it to shut down. “Since February, Dooga has made every possible effort to recover these funds,” the release reads. Unfortunately – contrary to expectations – these efforts have been unsuccessful up until now. As Bitcoinist reported December 11, officials had told users on Twitter that Cubits was undergoing “maintenance” and would “be right back.” An identical message had appeared on the company’s website, but on Tuesday this changed to a 500 error message and the website went offline. A fresh tweet then confirmed Dooga had entered administration, leaving already frustrated users bewildered at the conflicting official information. Cubits had begun delaying withdrawals by weeks, some said, while another told Bitcoinist he was looking to involve law enforcement as a result of the company withholding his money. Payments Coordinator Endorses OneCoin At the same time, curious activity among senior management revealed the company’s payments coordinator Eloise Debono to be an advocate of OneCoin, a defunct Ponzi scheme, which has attracted warnings from multiple countries’ authorities over illicit practices. “Bitcoin can be bought and sold on many different exchanges, meaning you could be paying or receiving more or less than you should be,” she wrote in a bizarre article in 2016. OneCoin uses one centralised exchange called OneExchange, where there is a fixed rate for buying and selling. I personally think this is more secure and less volatile. COO Max Krupyshev, listed on LinkedIn as Cubits’ “head of crypto business,” left in November, weeks before users began to complain about withdrawal and funds access problems. Liquidator: Cubits Operator ‘Secure’ According to the company’s administrators, users will receive official correspondence about the debacle in the coming days. “Our goal is to achieve the best outcome for creditors generally at the earliest possible date,” Steve Parker from insolvency firm Opus Business Services Group commented. “Dooga’s current position is secure, investigations are proceeding and we will be writing to creditors, formally, this week.” What do you think about the ongoing Cubits debacle? Let us know in the comments below! Images courtesy of Shutterstock The post Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed appeared first on Bitcoinist.com.
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Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing

Tezos [XTZ], the token which ranks on the 20th position on CoinMarketCap’s list, has been going through a rough patch, owing to the strong bear market. However, the time appears to have been changing for XTZ as it has been seen siding the bull. Source: CoinMarketCap According to CoinMarketCap, the coin was valued at $0.41 with a market cap of $252 million, at the time of press. The coin reported a 24-hour trade volume of $2 million and grew by 1.80% in an hour. The maximum trade volume of the coin was registered by Gate.io, with a market cap of $510,404 with XTZ/USDT pair. It was followed by UEX on the second and third position. UEX on the second position registered a trading volume of $398,341 with XTZ/USDT pair and on the fourth position, the market cap was noted to be $394,993 with XTZ/BTC pair. Source: CoinMarketCap This comes after the coin was valued at its lowest at $0.31 recently, with a low market cap of $192 million. The trading volume of XTZ was reported to be $3 million. The rise in the coin’s prices is speculated due to getting listed on Huobi Global. Huobi released a statement informing the crypto world about this. It read: “Tezos (XTZ) will be launched on Huobi Global on December 12, 2018 (GMT+8). Deposits will be available from 14:30, December 12, 2018 (GMT+8). XTZ/BTC and XTZ/ETH trading will be available from 18:00, December 13, 2018 (GMT+8). Withdrawals will be available from 14:30, December 16, 2018 (GMT+8).” Even though the coin is struggling to make over $2 million in trading volume, it has reported an uptrend by 13% over 24 hours. Meanwhile, there have been constant talks about Tezos being listed on Coinbase over the past couple of months and many holders are hopeful about the same. On December 7, Coinbase released a list of potential cryptocurrency list, which may be a part of the new listing. This listing included tokens like Cardano [ADA], EOS [EOS], Stellar [XLM], XRP [XRP], and also Tezos [XTZ]. An update is awaited on Coinbase’s end about the final listing. Tezos seem to be upping its game and fighting the bear head-on. The post Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing appeared first on AMBCrypto.
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