DeepCloud AIDeepCloud AI DEEP STO news

DeepCloud AI is building an AI-driven decentralized cloud computing platform for running decentralized applications — IoT and Web 3.0 dApps.
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Upcoming
Raised
Soft cap
8,000,000 USD
Hard cap
15,000,000 USD

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BitMax.io‘s Follow-up Statement Regarding Delisting Decision of DeepCloud AI

Coinspeaker BitMax.io‘s Follow-up Statement Regarding Delisting Decision of DeepCloud AIBitMax.io, an industry leading digital asset trading platform, announced that there has been significant misrepresentation of facts and allegations against BitMax.io and its team in the follow-up to its delisting decision of DeepCloud AI (DEEP). This announcement is intended to help users to gain full transparency in the accuracy and completeness of key facts around this matter.First, DEEP project provided false information to both BitMax.io and investor communities regarding private / presale investor token allocation and vesting schedules. As a result, additional 49% were released over first day, and over 3,000,000 DEEP within the first 3 months.Secondly, actual circulating supply remains uncertain to this day due to further discrepancy and lack of project communication.As is known to all, initial circulation supply, token allocation and cost basis info are extremely critical to effective operation and trading quality of any third-party liquidity provider / market maker. Inaccurate and incomplete information from DEEP made it impossible for them to assess key support and resistance levels and effectively manage trading capital, especially in situations where there was decreasing organic buy orders.Also, all the orders posted from DEEP’s contracted liquidity provider were passive “Maker orders” in order to provide liquidity with and minimize market impact for traders. This is a key requirement for any liquidity provider to operate on the platform.Last but not least, BitMax.io utilized principal capital to conduct the $300,000 buy-back program of DEEP. This capital came directly from a segregated account owned by BitMax.io, NOT the account holding capital for liquidity provision.As noted earlier, the BitMax.io team will continue enhancing its due diligence process and listing requirements for all future projects. The platform will also seek to bring on more institutional market makers / liquidity providers in continuous support of a liquid and orderly trading market. In the interest of BitMax.io users, the robust Post-Listing Administration process is being implemented by working with all listing projects for ongoing monitoring.BitMax.io‘s Follow-up Statement Regarding Delisting Decision of DeepCloud AI
Coinspeaker

BitMax.io‘s Follow-up Statement Regarding Delisting Decision of DeepCloud AI

Friday, October 4, 2019 – BitMax.io, an industry-leading digital asset trading platform, announced that there has been a significant misrepresentation of facts and allegations against BitMax.io and its team in the follow-up to its delisting decision of DeepCloud AI (DEEP). This announcement is intended to help users to gain full transparency in the accuracy and completeness of key facts around this matter. First, the DEEP project provided false information to both BitMax.io and investor communities regarding private / presale investor token allocation and vesting schedules. As a result, an additional 49% were released over the first day and over 3,000,000 DEEP within the first 3 months. Secondly, the actual circulating supply remains uncertain to this day due to further discrepancies and lack of project communication. As is known to all, initial circulation supply, token allocation and cost basis info are extremely critical to the effective operation and trading quality of any third-party liquidity provider/market maker. Inaccurate and incomplete information from DEEP made it impossible for them to assess key support and resistance levels and effectively manage trading capital, especially in situations where there was decreasing organic buy orders. Also, all the orders posted from DEEP’s contracted liquidity provider were passive “Maker orders” in order to provide liquidity with and minimize the market impact for traders. This is a key requirement for any liquidity provider to operate on the platform. Last but not least, BitMax.io utilized principal capital to conduct the $300,000 buy-back program of DEEP. This capital came directly from a segregated account owned by BitMax.io, NOT the account holding capital for liquidity provision. As noted earlier, the BitMax.io team will continue enhancing its due diligence process and listing requirements for all future projects. The platform will also seek to bring on more institutional market makers/liquidity providers in continuous support of a liquid and orderly trading market. In the interest of BitMax.io users, the robust Post-Listing Administration process is being implemented by working with all listing projects for ongoing monitoring. For more information, follow BitMax.io on: Website: https://www.BitMax.io Twitter: https://twitter.com/BitMax_Official Reddit: https://www.reddit.com/r/BitMax/ Telegram: https://t.me/BitMaxioEnglishOfficial Medium: https://medium.com/bitmax-io CONTACT: support@bitmax.io Disclosure/Disclaimer: This press release is sponsored and produced by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers are urged to do their own research before investing or having anything to do with the company, goods and/or services mentioned in the above article. The post BitMax.io‘s Follow-up Statement Regarding Delisting Decision of DeepCloud AI appeared first on ZyCrypto.
ZyCrypto

BitMax Accused of Arranging Pump and Dumps

Crypto exchange BitMax has been accused of being involved in pump and dump schemes to benefit from IEO projects. Lunar Digital Assets CEO Bashes BitMax On Tuesday, Han Yoon, founder and CEO of crypto data analyst Lunar Digital Assets (LDA), accused the BitMax team of indirectly defrauding several IEO projects through pump and dump schemes. To avoid confusion, Yoon refers to the crypto exchange platform established last year and currently listed on the 52nd place on Coinmarketcap by daily trading volume. We mention this because Japanese messaging platform LINE just launched a cryptocurrency exchange with the same name. Back to the charges, Yoon claims that BitMax’s market makers weren’t concerned with providing liquidity to IEO projects but rather pumping the prices by buying up their tokens. After burning through hundreds of thousands and even millions in liquidity funds, the buy side lacked the necessary dose of funds, causing the IEO token price to tumble. This scenario could be noticed with DEEP, the token of blockchain-oriented project DeepCould AI. DeepCloud AI builds decentralized cloud computing infrastructures. The team managed to survive the stodgy bearish market and even raised funds through BitMax. However, BitMax’s market makers wasted the funds. Initial exchange offerings (IEOs) rose from the ashes of initial coin offerings (ICO), a term compromised by the high number of scams. Usually, IEO projects choose a specialized crypto exchange platform to conduct the fundraising event and expand their businesses, obviously in exchange for a fee paid to the exchange that hosts their token. Yoon Claims Shane is the Culprit It seems that BitMax turned to dubious practices after Shane Molidor, a senior executive at FBG Capital, became Head of Business Development at BitMax. Previously, Shane worked at Gemini and IBM. Yoon claims that Shane lied to the DeepCloud AI team by voicing misleading promises. In the end, the DEEP token went through a pump and dump move and declined dramatically. The LDA CEO explained: Shane had allegedly bragged about their pump and dump tactics from his FBG days. Shane defended their actions, even going as far as to say that they spent $300K on a token buyback program. No Shane, you nor BitMax spent $300K on no such thing; the $300K was DeepCloud AI’s money. Get your facts straight, and get out of your 2017 fantasy. Besides DeepCloud AI, several other projects failed with BitMax, including DOS Network, Ferrum Network, and DUO Network. The only project that succeeded is UltrAlpha, which is the personal project of BitMax CEO George Cao. What do you think about allegations against BitMax? Share your thoughts in the comments section! Images via Shutterstock, Coinmarketcap The post BitMax Accused of Arranging Pump and Dumps appeared first on Bitcoinist.com.
Bitcoinist

BitMax.io Announces Primary Listing Partnership with DeepCloud AI (DEEP)

BitMax.io (BTMX.com) has announced the primary listing of DeepCloud AI (DEEP), an AI-driven decentralized cloud computing platform that provides a marketplace for companies and individuals to share excess capacity of computing and storage resources via decentralized cloud.  DeepCloud AI is planning to launch its token pre-sale for BitMax.io users on July 18 EDT. Being the […] The post BitMax.io Announces Primary Listing Partnership with DeepCloud AI (DEEP) appeared first on CCN Markets
CCN

BitMax.io Announces Primary Listing Partnership with DeepCloud AI (DEEP)

Coinspeaker BitMax.io Announces Primary Listing Partnership with DeepCloud AI (DEEP)BitMax.io (BTMX.com) has announced the primary listing of DeepCloud AI (DEEP), an AI-driven decentralized cloud computing platform that provides a marketplace for companies and individuals to share excess capacity of computing and storage resources via decentralized cloud.DeepCloud AI will launch token pre-sale for BitMax.io users expectedly on July 15th EDT. As the organizer, DeepCloud takes full legal responsibility for its token pre-sale. As part of the listing collaboration, BitMax.io will provide technology and execution support for this pre-sale.About DeepCloud AIDeepCloud AI is exploring the new market of decentralized solutions by offering users a blockchain-based decentralized cloud service option. By using Artificial Intelligence (AI) to manage resources, DeepCloud AI can offer a revolutionary cloud infrastructure for decentralized applications, especially IoT and Web 3.0 apps. With the democratization of cloud computing, resource providers and application developers have a level playing field to run decentralized applications cost-effectively.The platform will provide a fully functional marketplace for computing and storage resources for companies and individuals – enabling them to share their excess capacity via a decentralized cloud.A core differentiator of DeepCloud AI is the use of AI for doing the resource matching between the network resource providers and application developers. A state-of-the-art matchmaking algorithm allocates resources for computation requests in the most optimal way. It is based on several parameters such as information from network user requests, location of usage, and the network contributors’ states in the master modes.This application marketplace for developers with pre-validated applications will speed up development of end-to-end solutions. Security comes from a layer of protection built around Intel’s SGX technology and deploying real-time monitoring of the platform to prevent fraud.DeepCloud AI is blockchain agnostic which means it allows multiple different chains to decentralize control and increase trust. The goal is to have a high throughput of transactions with low transaction costs.The ecosystem is composed of network resources providers, decentralized application developers, application marketplace providers and the AI controller. Network resource providers are people who provide resources to the network and earn DEEP tokens. Application developers can customize user-services for their applications through their user dashboard and select dApps from the predefined applications from the application marketplace. The AI controller manages the resources, analyzing every transaction and its effect on the network. The AI Matching Engine matches the network resource providers and application developers.A Wide Range of Use CasesDeepCloud AI’s made significant efforts to establish partnerships with leading institutions and established enterprises in a variety of international markets. The development team is led by CTO Geeta Chauhan, a former Nokia and Lucent Alcatel executive, and has committed substantial resources into developing custom solutions for a variety of projects.IoT applications need edge computing close to the source. With DeepCloud’s matching machine, the right resources can be matched to the right applications based on real-time analysis of data across the network.Smart cities: Local governments can build core infrastructure for smart cities and use DeepCloud AI’s resources close to the edge for running and deploying applications.Tracking supply chain transactions: Deploying blockchain-based applications on DeepCloud AI fabric allows tracking of complex supply chain transactions with a full audit trail that’s tamper-proof and secure.Service providers, such as TV companies, can rely on DeepCloud AI’s decentralized services such as local caching during large audience events (for instance during the Olympics and football season).DeepCloud AI already has a contractual agreement with the Mexican government and is creating an immutable, distributed vehicle database in Coahilla. A trial run will take place in July 2019, after which it will be decided whether a nationwide rollout will take place.About BitMax.io (BTMX.com)BitMax.io is the industry’s next-generation digital asset trading platform that provides a broad range of financial products and services to both retail and institutional clients across the globe. This innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of blockchain, transparency and reliability, to deliver high-quality client services and trading experience.BitMax.io always strives to provide its global users with a comprehensive set of trading products. BitMax.io enabled margin trading on Feb. 14th, 2019. The margin trading function is another step forward from a product-offering perspective to better serve their dynamic trading needs. For BitMax.io users who understand and acknowledge the risks involved in margin trading, they are now able to leverage their tradable asset for potential higher return on investment through margin trading with sound risk management. The list of digital assets that can be traded on margin has increased from initial four to 18 different tokens, even including BTMX. It’s another pioneering move for BitMax.io to enable margin trading in its own native token. It expands the utility functions of BTMX, and incentivizes liquidity on the platform. (The margin trading function of BitMax.io is not available for North American markets.)Similar to the innovative margin trading launched on BitMax.io, introduction of this unique Volatility Card has again showcased the team’s deep understanding of inner working of capital market and their advanced expertise in financial product design. BitMax.io Volatility Card is the first volatility-linked derivative product of this platform that allows global users to forecast and trade off price fluctuation of underlying major coins during preset time windows in a simple yet effective way. Named as Turtle and Bunny Card after Aesop’s fable – the Tortoise and the Hare, the card has quasi-option structure for underlying trading pairs yet largely simplified payout form. User can purchase different card for the prediction of price movement either within certain range (Turtle Card) or above certain range (Bunny Card). Those who predict correct range of price movement will receive the payout equivalent to notional value of the card. Volatility Card uses simplified payout form without complication of settlement and clearing issues common for real currency options. Users just simply select which card to purchase to trade on their view of volatility of underlying asset either within or above certain range. It is easy to understand and use for all types of traders with need for either very short-term momentum trading or partial risk hedging against outsized price swing in very volatile market condition.ConclusionBitMax.io has experienced significant growth since its launch 2018 and is deeply committed to providing a high-performance, client-centric trading platform to its global client base. Currently, the platform has over 180,000 registered users, with over 50,000 active community members. The listing of DEEP broadens its trading pair scope, as well as provides more diversified global exposure to DeepCloud AI.For more information, follow BitMax.io on: Twitter, Reddit, Telegram and Medium.BitMax.io Announces Primary Listing Partnership with DeepCloud AI (DEEP)
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CFTC Chairman: commodity can become security and vice versa

Commodity Futures Trading Commission (CFTC) chairman Heath Tarbet confirmed that a security can turn into a commodity and vice versa.  Tarbet made this remark on Monday at DC Fintech Week, when asked about a comment he made earlier this month that ether is not a commodity. At the conference, Tarbet emphasized that the Securities and Exchange Commission (SEC) is the entity that determines when something is a security, while the definition of commodities, which fall under the CFTC's jurisdiction, is broader.   Meanwhile, the SEC has dealt out a string of crackdowns on initial coin offerings (ICOs) of tokens that it deems as securities.   Earlier this month, the regulator filed an emergency action against Telegram and TON Issuer for failing to register the sale of their Gram tokens, which the SEC regarded as securities. This filing follows a settlement between the SEC and Block.one, the firm behind the EOS blockchain, for conducting an unregistered ICO. 
The Block Crypto

Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility

The Bitcoin mining giant Bitmain has just announced that it will work with a Canadian startup to help create a facility with potentially 300MW of power in Texas. DMG Blockchain Solutions Inc. will be providing the Chinese firm with project management services. The news comes less than a week after a different startup announced its intentions to also bring Bitcoin mining to Texas. Layer 1 aims to create an all-in-house mining facility and has received funding of $50 million to help it achieve this. Another Massive Mining Operation for Texas According to a press release, Bitmain has partnered with a Canadian startup to help it create a massive mining facility in Texas. The Chinese hardware manufacturer will be working with DMG Blockchain Solutions Inc. – a self-described “diversified blockchain and technology company.” DMG states that it was chosen following an extensive selection process. Bitmain initially started construction of a 25MW mining farm on a 33,000 acre site in Rockdale, Texas, last year. The firm has now announced that it will be at least doubling its size with the help of DMG. The site will be powered with electricity sourced from the Electric Reliability Council of Texas (ERCOT). The CEO of DMG, Dan Reitzik, stated the following of the deal between the two companies: “Being chosen by the world’s leading bitcoin mining company is a great testament to the capabilities of DMG’s mining team. Over the past several months, Bitmain visited many large facilities throughout North America including DMG’s flagship facility in British Columbia, Canada.” The release says that there is currently 50MW of power available for the planned Texas site. There is also the potential to increase this to 300MW. This would make it one of the largest Bitcoin mining facilities on the planet. DMG says that it will be handling management of the new facility but will not be adding to the funding of the project. Sheldon Bennett, COO of DMG, commented on the firm’s suitability for its new management position: “Having led large projects in Alberta and recently completing DMG’s 60MW facility, this 300MW facility is an exciting opportunity for DMG to truly demonstrate economies of scale. While the task of managing what we believe will be the world’s largest bitcoin data centre is daunting, we are confident that together with Bitmain, we will complete on time and on budget.” Don’t Bitcoin Miners Like the Cold? The news follows the recent announcement by another Bitcoin-focused startup. Layer 1, launched in 2018, originally positioned itself as an “activist fund for cryptocurrencies.” However, last week the firm announced that it had just completed a $50 million funding round. Amongst those backing the venture is US entrepreneur Peter Thiel. Layer 1’s plan is to perform almost all tasks relevant to the operation of a Bitcoin mining facility itself. This not only means manufacturing the chips but also creating a power substation and developing advanced cooling methods to deal with the intense Texas heat. Typically, Bitcoin miners have preferred cooler climates for their operations. This allows them to save money on systems systems needed to cool hundreds if not thousands of powerful computer systems working day and night in the same space. Bitmain’s Rockdale Lead Project Manager, Clinton Brown, explained why firms were starting to turn to Texas for Bitcoin mining: “We are excited to launch this facility, which is significant to Bitmain’s global expansion plans. The stable and efficient energy resources in Texas are fundamental to the inevitable scale of growth for the cryptocurrency mining industry.”   Related Reading: Russian Scientists Fined for Mining Bitcoin on Hijacked Supercomputer Featured Image from Shutterstock. Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility was last modified: October 21st, 2019 by Rick D.The post Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility appeared first on NewsBTC.
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Bitmain’s Jihan Wu Talks Mining and Industry Growth With Bitcoin.com’s CEO

At the World Digital Mining Summit in Frankfurt, Germany, Bitcoin.com’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin ETF Proposal A Virtual Economy at Work Approaching Critical Mass The World Digital Mining Summit (WDMS) is a two-day mining conference that hosts an assembly of industry leaders, mining rig manufacturers, cryptocurrency pool operators, and other individuals passionate about crypto. During the event, Bitcoin.com’s CEO, Stefan Rust, had the privilege of sitting down with Bitmain cofounder Jihan Wu and discussed a wide variety of subjects. At first, Wu explained how he got into Bitcoin and that while working for an investment firm, he happened to read something about Bitcoin and found it “really interesting at that time.” After looking into it for two days straight he decided that bitcoin was a good idea. Wu was actually the first person to translate Satoshi’s Bitcoin white paper into Chinese for residents living in the region. “I was the first one to translate the [white paper]. At that time in the Chinese media said Bitcoin was either a scam or it does not work,” Wu explained to Rust. “I happened to understand economics and some high-level principles of computer science so I knew [Bitcoin] works in both economic ways and in computer science ways. So I translated the white paper and tried to get more positive feedback from Chinese social media.” While recalling his old QT wallet, Wu emphasized that it’s been an amazing journey. “I still remember back then no one knew about bitcoin and right now there are 20 million or 40 million users around the world and almost everyone now more or less have heard about bitcoin — I believe there are actual users getting involved in the cryptocurrency economy and those [individuals] are really starting to use cryptocurrencies for payments. A way to store their cash account — I believe this kind of user base will increase more and more.” Wu continued: This is a virtual economy at work and it’s quite difficult in the beginning but I think we are almost near critical mass. The Bitmain cofounder remarked that he believes the 40 million crypto users globally had initially stemmed from investor types, but nowadays he sees more ordinary people joining the economy and “especially young people.” “[Individuals] are really pushing cryptocurrency into the local payment network and people start to use it,” Wu said. Rust also brought up spending bitcoin cash (BCH) in Slovenia where there are hundreds of merchants that accept digital assets for products and services. “Lots of people still today believe [Bitcoin] is undoable or it’s out of their imagination how cryptocurrency can be really adopted by real life use cases,” Wu replied. “I think it’s a miracle, I think it’s amazing and lots of miracles are happening nowadays.” Bitmain Continues to Produce Next Generation Mining Rigs and Chips After discussing cryptocurrency adoption, Wu also explained how Bitmain was doing this year. “After the bottom of the bearish trend last year we’ve seen a very fast recovery in the money industry and we can see the hashrate growing very fast. Bitmain’s sales volume increased a lot and we released a new generation of mining rigs and mining chips.” Wu detailed that the company also released new artificial intelligence (AI) chips. He further explained that Bitmain’s mining pools mined different cryptocurrencies and remain top-ranking mining pools. Wu stressed: It’s a good year for Bitmain. Additionally, Rust and Wu talked about regulations in China and how roughly 60% of the world’s hashpower is located in the country. The two executives discussed the possibility of China banning bitcoin mining and how the Chinese government is dealing with oversight. The Bitmain cofounder and Bitcoin.com CEO conversed about a slew of other subjects like the ecological impact of bitcoin mining, the reward halving, and a lot more insights from someone who’s seen the cryptocurrency mining industry grow immensely, first hand. If you want to check out our exclusive interview with Bitmain’s Jihan Wu, check out the video below. What do you think about Jihan Wu’s perspective of the mining industry and cryptocurrency ecosystem? Let us know what you think about the interview in the comments section below. Image credits: Bitcoin.com. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Bitmain’s Jihan Wu Talks Mining and Industry Growth With Bitcoin.com’s CEO appeared first on Bitcoin News.
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BANK OF AMERICA: Companies are crushing earnings season so far — but the firms missing forecasts are being punished more than usual (BAC)

Third-quarter earnings season is a couple weeks underway, and Bank of America Merrill Lynch analysts found that companies that missed sales and profit expectations are getting hit more than usual in next-day trading. The companies that fell short of expectations for revenue and earnings underperformed the S&P 500 by 3.9 percentage points, the analysts found, compared to the 2.4 percentage point historical average. The worse-than-usual performance by such companies suggests investors may not be confident enough in long-term outlooks to forgive third-quarter performance, Bank of America said. Visit the Business Insider homepage for more stories. Third-quarter earnings season is underway, and the performance of 75 S&P 500 companies to already report brings fresh insight into investors' economic outlook. Of the companies to report, 43% have beaten analyst expectations for both revenue and earnings, according to Bank of America Merrill Lynch analysts. The figure lands slightly above the second-quarter average of 41% and the year-ago average of 40%. Yet the companies that missed analyst estimates in both categories were clobbered more than usual in public trading, underperforming the S&P 500 by 3.9 percentage points in next-day trading, the analysts found. Historically, companies underperform the index by 2.4 percentage points when they miss sales and earnings estimates. Read more: Goldman Sachs says these 5 trades can help investors make a killing during a crucial earnings season The companies beating both estimates outperformed the index by 1.6 percentage points, falling in line with the historical average. The worse-than-usual punishment could reflect a lack of long-term confidence among traders, with third-quarter misses signaling a prolonged downturn. The analysts also found mentions of words like "better" or "stronger" against "weaker" or "worse" hitting the lowest gap since 2009, which could be a result of continued trade tensions and souring global economic outlook. Earnings of the 75 companies to report were 2% above consensus estimates, with healthcare and consumer discretionary companies delivering strong beats. Banks performed in line with estimates despite macroeconomic indicators warning otherwise and recent Fed rate cuts squeezing profit margins. The current trends are subject to change, especially with 36% of S&P firms slated to report their third-quarter earnings in the week starting Monday. Mega-cap stocks like Microsoft and Amazon will announce their latest figures, and more than half of communication services and energy companies will report as well. Now read more markets coverage from Markets Insider and Business Insider: Wall Street is sounding the alarm as a key source of stock-market buying evaporates The Fed's $60 billion monthly cash injections aren't enough to solve recent money-market stresses, JPMorgan says Billionaire Howard Marks gives his best advice for navigating an anomalous market where 30% of the world's debt has a negative yieldJoin the conversation about this story » NOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent children
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