An STO Lifecycle: The Complete List of Milestones
How to issue a digital security, what are the steps: a brief outline of the 12 stages that a company will take to launch an STO complying with all the legal issues
Essentials news
Clear-cut guide into crypto and blockchain basics
OTC & Media Activity
Finrazor together with ICORating conducted researches and checked the correlation between OTC and mentions of certain words and the originality of the news
Security Token Offerings Could Disrupt Venture-Backed Tech Startups Positively
A handful of methods exist for raising capital, from private offerings to semi-public to a full-blown IPO or ICO. Now STOs are on the rise which might just be what tech startups need to revitalize the market
Why Blockchain Technology Is Here To Stay
We keep up the tradition of giving the stage to crypto advocates to talk about the cryptoindustry. This time we will review the usefulness of blockchain technology and why it deserves a say in the modern world
Security Token Offering 101
A Security Token Offering (STO) is a form of raising capital for a startup by distributing tokens to investors. While ICOs mainly deal in utility tokens that grant their holders access to services and products associated with respective blockchains and dapps, security tokens can be thought of as digital documents representing the investor’s rights to equity, a revenue share, debt, etc. STOs provide a better investor protection as they need to be compliant with appropriate regulations
Introduction to Avalanche
Avalanche introduces a new family of consensus protocols that are claimed to combine the best features of classic protocols and Nakamoto consensus. Described as ‘metastable’, the Avalanche protocol is actually four protocols that build upon each other. These are Slush, Snowflake, Snowball, and finally Avalanche itself
$16 Million Total Investments for Blockchain Gaming Startup
Mythical Games acquires $16 million for Series A funding round. The startup will use the acquired funds to produce games that can be modified by players, brands, and developers. The generated content will be purchasable with in-game currencies bought with real-life money
What is Holochain?
Holochain is a framework for distributed applications. Unlike blockchains which are data-centric, Holochain uses an agent-centric paradigm. It combines technologies like Bittorrent, git and digital signatures to enable individual chains to merge, split and interact with each other in complex and secure ways
Introduction to Algorand
Algorand is a new cryptocurrency and consensus protocol. Its two core technologies are the binary Byzantine Agreement and cryptographic sortition. Algorand’s main difference from other proof-of-stake systems is the absence of economic incentives for network participants, hence the viability of Algorand is currently a subject to wide debate in the community
Trending: Keep Up with What’s Up
In today’s clickbait culture it may at times come difficult to tune out media noise and make out the news that matter. At Finrazor, we have developed Trending, a handy tool to help you keep up with the most trending topics and events in an organized and rigorous way
Does News Still Matter in 2018?
On October 29, Finrazor introduced News Influence Score (NIS) – the first tool which turns the unguided instances of assets’ mentions in media into a measurable parameter. We are going to explain the working principle of the first of its kind feature in details and provide some illustrative use cases
Monero Bulletproof Hardfork Explained (Updated)
Monero fees plummet to a couple of cents, as the privacy-centric cryptocurrency releases Beryllium Bullet, a highly anticipated system-wide software upgrade. The core change in Monero 0.13.0 includes the introduction of bulletproofs, a breakthrough cryptographic technology that restructures the verification of Confidential Transactions, the technique that helps Monero obfuscate transacted amounts
The Beginner’s Guide to Cardano
Cardano claims to be a third-generation cryptocurrency that seeks to provide a scalable, interoperable and sustainable ecosystem with a two-layer architecture using a peer review-based approach to development
Priori Incantatem, or Introduction to Mimblewimble
Mimblewimble is an extremely lightweight blockchain protocol that can implemented as both an upgrade to Bitcoin or an independent chain. By taking elliptic-curve cryptography several steps further than Bitcoin, Mimblewimble builds upon a number of techniques such as Confidential Transactions, CoinJoin, and One-way Aggregate Signatures and strips down blockchains of all unnecessary data to bring unprecedented scalability and absolute anonymity
The Beginner’s Guide to Dash
Dash aims to be an on-chain scaling and private digital cryptocurrency. Powered by a two-tier network, Dash boasts functionalities such as PrivateSend and InstantSend as well a decentralized governance model called Decentralized Governance by Blockchain
The Beginner’s Guide to Zcash
Zcash is a cryptocurrency that offers anonymity by shielding sender and recipient addresses and transacted amounts. Shielded transactions are possible thanks to the power of innovative zero-knowledge cryptography, namely zk-SNARKs
The Beginner’s Guide to Monero
Monero is an anonymous digital currency that enables untraceable and unlinkable transactions by obfuscating a public ledger. It combines ring signatures, stealth addresses, Kovri and RingCT in a way that hides senders, recipients, their IP addresses and transacted amounts
The Beginner’s Guide to IOTA
IOTA is a distributed-ledger protocol powered by the Tangle, a DAG-based data structure. With its feeless transactions and tremendous scalability IOTA seeks to be useful in the age of the Internet of Things
The Beginner’s Guide to Ripple
Ripple is a real-time gross settlement protocol, currency exchange and remittance network. Ripple Labs, the company developing Ripple, seeks to revitalize bank interoperability by providing an interledger infrastructure (xCurrent), a liquidity layer for fiat currencies (XRP-powered xRapid), and an API to access these services (xVia)
The Beginner’s Guide to Nano
Nano is a digital currency that uses cryptography to enable peer-to-peer transactions. The project seeks to address blockchain limitations by implementing the innovative block-lattice structure and a delegated Proof-of-Stake consensus system.
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Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco
The market saw prices of most major cryptocurrencies soar earlier this week. However, the weekend has led to a new turn of events as coins are now being dragged into bearish territory. Among the top-10 coins, the five cryptocurrencies that saw the biggest fall were Stellar Lumens [XLM], EOS, Cardano [ADA], XRP, and Litecoin [LTC].
The fall in prices was a result of the Bitfinex-Tether fiasco. New York State’s Attorney General’s [NYAG] office revealed that iFinex, the company behind the crypto-exchange Bifinex, may be violating New York Law. This announcement was in relation to activities that “may have defrauded” local investors who trade in cryptocurrencies.
Stellar Lumens [XLM]
Source: Trading View
Stellar Lumens [XLM] was valued at $0.1158 on April 20 and fell by 14.68% over the week. At press time, the coin was valued at $0.0990 with a market cap of $1.88 billion. The 24-hour trading volume was noted to be $276 million, as the coin fell by 4.50% over the past day and continued to dip by 0.43% within the past hour.
EOS
Source: Trading View
EOS, at the beginning of the week was valued at $5.47, after which it fell by 13.97% over the past seven days. At press time, the coin was valued at $4.70, with a market cap of $4.43 billion. The 24-hour trading volume of the coin was $2.62 billion as it fell by 1.91% over the past day. The coin, at press time, was falling by 0.14% and failed to recover.
Cardano [ADA]
Source: Trading View
Cardano [ADA] fell by 13.41% over the week, which resulted in its price falling from $0.0769 to $0.0690. The market cap of the coin was reported to be $1.78 billion and the 24-hour trading volume was $108 million. Over the past 24-hours, the coin fell by 4.47% and continued to fall by 1.35% within the past hour.
XRP
Source: Trading View
At the beginning of the week, XRP was valued at $0.3325, after which it slipped by 11.88% and, at press time, was valued at $0.2929. The market cap of the coin was noted to be $12.30 billion and the trading volume of the coin was $1.36 billion. XRP fell by 2.49% over the past day and by 0.50% over the past hour.
Litecoin [LTC]
Source: Trading View
Litecoin [LTC] noted a fall of 10.79% over the past week, which reduced the price of LTC from $81.33 to $72.64. The market cap of the coin was $4.46 billion with a 24-hour trading volume of $3.15 billion. The price of the coin fell by 0.77% over the past 24-hours and by 0.94% within an hour.
The post Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco appeared first on AMBCrypto.
Bitfinex: $850M Lost Tether ‘False Assertion’
Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.
The Cover-Up Claims
According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been sent to, and seized by payment processing firm, Crypto Capital Corp. The allegation goes on to say that Bitfinex used cash reserves from affiliated stablecoin, Tether, to cover the shortfall.
The AG, Letitia James, claims this ‘loss of funds’ and movement of reserves was not disclosed by operator of both Bitfinex and Tether, iFinex. Therefore, it had “engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds.”
At press time, the price of USD Tether 00 has fallen bellow its $1 peg. Meanwhile, its stablecoin competitors such as USD-Coin 00 and TrueUSD 00 are now trading at a slight premium.
This suggests that investors are likely swapping their tethers to avoid any further surprises.
Worth noting, Bitcoinist reported yesterday that the supply of tethers has reachd an all-time high.
‘Bitfinex and Tether are Financially Strong’
Bitfinex responded today by claiming that the AG’s filings:
…were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital.
It claimed that these funds were not lost, but had “been, in fact, seized and safeguarded,” and it was actively working to get those funds released. It went on to chastise the AG for not doing more to aid and support its recovery efforts.
Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office.
The Double Standards
Caitlin Long pointed out on Twitter, that even if the allegations were true, the NY AG was guilty of double standards. From 2009-12, Merrill Lynch, according to the SEC:
commingled customer funds, used them to cover its own obligations, & had it failed its customers would have been exposed to a “massive shortfall in the reserve account.”
Which is essentially what the AG is accusing iFinex of. But whilst the SEC dealt with the Merrill Lynch case without causing panic and customer withdrawals, the move by the AG has sparked just that for iFinex.
7/ So…#NewYork did good investigative work here but needs to be called to task on why the double standard, and why the "gotcha" approach? Why not do the same to #WallSt firms when they play similar shell games???
— Caitlin Long (@CaitlinLong_) April 26, 2019
She also urged exchanges to clean up their acts regarding transparency and proof of solvency, to avoid such situations.
The Problem?
The Attorney General’s filing, asserts that the Tether funds were extended as a line of credit, over three years, with a 6.5% interest rate. An iFinex share charge, of 60,000,000 shares, secured the loan.
Entrepreneur and commentator, Alistair Milne, Tweeted the situation rather succinctly, concluding that, as long as “Bitfinex trades profitably, no problem.”
TL:DR the Tether/Bitfinex news:Bitfinex have borrowed ~700mil from TetherBitfinex pay a 'fair' interest rate on this loan60million shares in Bitfinex were pledged as collateralIf CryptoCapital release the USD, no problemIf Bitfinex trades profitably, no problem
— Alistair Milne (@alistairmilne) April 25, 2019
Which brings us back to transparency and disclosure. If iFinex told customers and investors about this alleged ‘seizure’ and ‘loan’, then would they now have a problem? And is the AG’s ‘gotcha’ approach really warranted in any case?
Is the NY Generaly Attorney acting in ‘bad faith’? Share your thoughts below!
Images via Shutterstock
The post Bitfinex: $850M Lost Tether ‘False Assertion’ appeared first on Bitcoinist.com.
Just In: Bitfinex Says It Will Fight This Gross Overreach By The NY Attorney General Office
Bitfinex, which owns the controversial stablecoin Tether, has responded to an order by the New York Attorney General’s office,…
The post Just In: Bitfinex Says It Will Fight This Gross Overreach By The NY Attorney General Office appeared first on Invest In Blockchain.
New York Attorney General’s Office Accuses Bitfinex Of Covering $850 Million Losses Using Tether Funds
If you are our BitcoinExchangeGuide’s regular reader. You should already know about the shady connection between Bitfinex and Tether. This Thursday, a document by the New York Attorney General’s (NYAG) office revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. In the press release, the attorney general Letitia […]
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