Weekly, May 14-18 ’18

Centra Tech's founders are sentenced to jail, Marc O’Brien joined Crypterium, ETF is launhed, Jack Dorsey’s opinion, Binance adds TrueUSD, China published its crypto rating, electricity consumption, Sberbank used Hyperledger Fabric blockchain, Microsoft joins the crypto ban, JP Morgan talks about crypto, Wozniak supports blockchain, ETH futures, Taihuttu still holds BTC, IBM’s token, crypto education in France

  • The three co-founders of Centra Tech Sorhab Sharma, Raymond Trapani, and Robert Farkas were found guilty and sentenced to jail. They are looking at a total of 65 years in prison, based on the charges. They are guilty of committing fraud and selling unregistered tokens to investors.
  • Marc O’Brien, one of the best experts in payments system in UK, former Visa UK CEO, joined Crypterium — the mobile crypto bank startup. Marc will lead the launch of Crypterium App that will let its users pay with cryptocurrencies with the same ease and convenience as with cash or credit cards
  • Brian Kelly, the founder of BKCM, the investment company, specialized in cryptocurrencies, has launched a new crypto ETF. This traded fund, called the REX BKCM ETF, will include the stocks of 33 companies which attempt to generate revenue from cryptocurrency- and blockchain-related projects. Now it holds the stocks of the Taiwan Semiconductor Manufacturing, Global Unichip, GMO Internet, Overstock.com and SVB Financial Group, each with an 8 percent weighting.
  • Jack Dorsey, CEO of Twitter, is pretty sure the Internet will have its own native currency, and he hopes Bitcoin will become such a currency. Thus he encouraged everyone to buy Bitcoin and to help make it happen. Earlier he declared that he’s a huge fan of Bitcoin. He was one of the early Bitcoin investors and took part in funding Lightning Labs.
  • Binance adds a new stablecoin, TrueUSD. It's more compliant to regulations than Tether, and the company that issues TUSD tokens, publishes the audits of their bank accounts each month.
  • China published its own crypto rating. In this rating, all cryptocurrencies have their own score, based on three sub-indices, technology, application, and innovation.
  • Ethereum has the highest score, thanks to solid technology score, its chinese rival, NEO, is in top 4. Bitcoin is placed in the 13th position.
  • By the end of this year, Bitcoin mining will be using 0.5% of the world’s total electricity. Now it uses as much power as Ireland does, approximately 2.55 gigawatts, and its power consumption could rise to 7.7 gigawatts of electricity by the year's end. Experts are bothered, is it worth it.
  • The largest bank in Russia, Sberbank, has successfully used Hyperledger Fabric blockchain to make a first transaction of a commercial bond. It was fast and secure, compared to a traditional way of making such deals. Soon this technology could replace the old way the bonds were transacted.
  • Microsoft joins the crypto ban, started by Google and Facebook. It released the statement that all crypto ads will be banned from Bing search engine by July 2018. The reason behind the ban is the unclear state of current regulation. Thus Microsoft tries to mitigate risks for its Bing users.
  • JP Morgan starts to look into crypto space, despite its CEO's previous comments.
  • The bank’s co-president, Daniel Pinto, stated in a recent interview, that the technology will play the role, but now the space seems to be too immature yet. Also he remarked that JP Morgan could do any crypto-related activity, including clearing futures, if needed.
  • Apple’s co-founder, Steve Wozniak, called blockchain ‘a great idea’ and the next major IT revolution that is about to happen. He also said that blockchain technology will reach its full potential in 10 years.
  • CME Group wants to review customer demand for Ethereum future contracts before actually launching the products. On Monday it has published the tracking prices for ETH, which are taken from Kraken and Bitstamp exchanges. Tim McCourt, CME’s head of equity products, said that there are no plans to launch ETH futures yet. Bitcoin futures are seeing lower demand than it was anticipated, so it must be a clear understanding that the market need a new crypto-based product.
  • Didi Taihuttu, the man who sold all his family’s belongings for Bitcoin, still holds it. As he bought it between February and September 2017, he’s still in profit. He says he believes in Bitcoin and will hold it until 2020. He thinks that in 2020 there won’t be any need to exchange his cryptocurrencies for fiat.
  • IBM is going to launch its first token on the Stellar’s platform. It is going to be a first corporate token ever issued. This “verde” token is a result of the partnership between IBM and Veridium Labs, and it’s designed to support the growth of Indonesian rainforests to counteract the carbon-damage done by environmentally-damaging industries. Every bought token will support a patch of rain forest.
  • Bruno Le Maire, the French Finance Minister, says that blockchain and crypto space has his total and determined support. It took him a year, but now he fully understands its importance and he’s ready to educate his French citizens what blockchain is.


8,744 USD


272.72 USD


0.1406 USD

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France set to approve the first batch of crypto firms under new rules

France’s financial regulator, Autorite des Marches Financiers (AMF), is set to approve the first batch of cryptocurrency firms under its new rules, which come into effect later this month. The regulator is in talks with “three or four candidates” for initial coin offerings (ICOs), as well as with several other cryptocurrency exchanges, custodians and fund managers, Anne Marechal, executive director for legal affairs at the AMF told Reuters on Tuesday. France adopted cryptocurrency regulations in April, which includes issuing certification for cryptocurrency issuers as well as taxing their revenue. At the time, the country also asked other EU nations to adopt its regulations to have a “single regulatory framework” across the region. France, which currently holds the Group of Seven (G7) presidency, is also set to create the group taskforce on stablecoin projects, including Facebook’s planned cryptocurrency, Libra.
The Block Crypto

How To Tell If Your Bitcoin Trading Platform Is Safe

Bitcoin trading, and the whole cryptocurrency market, in general, has become so popular since it first came to birth a decade ago. While many remain skeptical about Bitcoins, there is also no denying the fact that it enjoys so much popularity, with many more wanting to get their hands on this form of trade. Bitcoin, in essence, is a form of digital currency, which allows you to perform almost any kind of transaction online. However, as effective and popular as Bitcoins may be, you also cannot discount the fact that Bitcoin trading is with very little to no government regulation at all. Hence, you might easily fall into the hands of fraudsters and scammers. If you aren’t prudent enough, you are only going to lose your hard-earned investments rather than enjoy earning from it. That said, here are some of the telltale signs that can tell you whether or not your Bitcoin trading platform is safe: It Doesn’t Ask For Too Many Fees Here’s the real deal: most Bitcoin trading platforms, such as Bitcoin Rush, offer their services for free. Generally, the only amount that they will be asking from you is one which corresponds to your initial deposit. There are no hidden charges and no add-on fees. Whatever services you want to avail of in Bitcoin trading platforms, you can do so without payment. Most Bitcoin platforms require only the initial deposit of around 250 US dollars, an amount which will form the starting point of creating your Bitcoin wallet. Part of this amount will be used by trading platforms to generate trade and facilitate exchange. If the Bitcoin platform you encounter constantly asks for fees or payment for services, treat it as a red flag. As much as possible, always choose the trading platform that asks for a lesser amount of fees. It Is Permission-Less Legitimate Bitcoin trading platforms do not require you to click a link to ask for permission from a third party so you can use the platform. If you come across this kind of pop-up, then close it immediately and leave the trading platform. Chances are, this is fake. Or it might only be a scam or virus that is trying to infiltrate your system. Legitimate trading platforms can be used immediately after you install it in your system. There is no need for you to go through a gateway that asks for permission before you can start sending and receiving Bitcoins. It Is Free From Malware Downloads If you have been using your computer for various software and platforms, you would know that many fraudsters take advantage of malware or downloads, which they use to go through your computer. These are referred to as baits, which serve as traps that send a virus to your computer after clicking them. Because Bitcoin trading has little government regulation and security, scammers can trick first-time Bitcoin users into choosing their trading platform, wherein users are exposed to numerous pop-ups and links that bring viruses to their computer. However, while Bitcoins are new and aren’t yet a formal type of currency, this doesn’t mean that its trading platforms do not look or seem professional at all. Tech-savvy individuals in the computer industry made Bitcoins, so you can expect them to have the same expertise in creating professional-looking trading platforms. It Doesn’t Ask For Your Credit Card Details One of the main reasons why a lot of Internet users use Bitcoins for online or digital transactions is that they do not have to key in their credit card details anymore. After you have purchased Bitcoins, you can put all these in your digital wallet. If the online merchant’s payment portal accepts BTC or Bitcoin payments, then you can use Bitcoins to pay for whatever goods or services it is you want to avail of. You can do this even without your credit card details. When you sign up for Bitcoin trading platforms, much of the information they generally ask from you involve only your name, email address, and contact number. That is all they need for you to create an account. Anything beyond that, particularly bank and credit card details, should already be a red flag for you. The only time that a trading platform will ask for your bank details is when you are making a withdrawal request for any income or interest that you may have earned from your Bitcoins, which you can change into fiat money. It Doesn’t Offer Too-Good-To-Be-True Returns Overnight If you come across a trading platform that promises to double your investment overnight, you should certainly run away from it. No matter how advanced Bitcoin trading and cryptocurrencies may be, this also doesn’t mean that the returns they promise are guaranteed. No one gets rich with Bitcoins overnight. It also takes a lot of hard work, an understanding of algorithms, and speculation of the current market for Bitcoins to grow. Its Testimonials Are Great In line with the above-mentioned point on returns that are too good to be true, one of the best ways to tell if your Bitcoin trading platform is safe is to read through the testimonials. Legitimate Bitcoin trading platforms are open enough to show you their users’ testimonials and reviews before you sign up. These are open for the public to see. If this information is unavailable on their website, you can quickly check through your best friend, Google, and search to see if that platform comes in highly recommended or not. If there is any information that might sound off to you, then trust your instinct. Go ahead and look for another trading platform instead. This technique is one of the easiest ways you can stay away from major Bitcoin scams. Conclusion Putting your Bitcoins in a trading platform is like investing your money in funds or stocks, or your ATM card. If you aren’t careful enough to choose wisely, you are putting your investment in the wrong hands. You have to be wise enough to make the right decision. Because of its popularity, there are currently numerous Bitcoin trading platforms for you to choose from, and with the help of these parameters, you can now be more guided as to which option might be the safest. The post How To Tell If Your Bitcoin Trading Platform Is Safe appeared first on ZyCrypto.

Bitcoin’s price is taking a sharp U-Turn; where have all the Libra bulls gone?

Detour ahead. After enjoying a bullish few weeks during which Bitcoin rode into five-figure heaven on the back of Libra bulls, Bitcoin has endured a rude awakening. Regulation was always going to be a prominent roadblock for Facebook. This was proven so after everyone with an ounce of authority and screen-time launched a barrage of […] The post Bitcoin’s price is taking a sharp U-Turn; where have all the Libra bulls gone? appeared first on AMBCrypto.

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