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  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 24

    Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 24

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

    Market data is provided by the HitBTC exchange.

    The crypto markets have been consolidating in a small range for the past few weeks. Investors who are currently sitting on the sidelines avoid entering a range bound market, and the volumes have dropped. We expect buying to start after the prices break out of their ranges and a new uptrend begins.

    The next major event that can move the markets is the outcome of the pending Bitcoin Exchange-Traded Fund (ETF) proposals submitted to the U.S. Securities and Exchange Commission (SEC). Whatever the decision, the cryptocurrencies are likely to respond wildly.

    The launch of Intercontinental Exchange’s (ICE) Bakkt platform on Dec. 12 might not cause the same excitement as the launch of Bitcoin futures last year by the CBOE and CME. Still, it is a welcome step. It can attract institutional investors because it will provide physically-delivered contracts.

    Vertex Ventures, a subsidiary of Singapore-based government-owned investment company Temasek Holdings has invested in one of the largest cryptocurrency exchanges Binance. This is a positive development because funds like Vertex Ventures tend to invest for the long-term and their gradual entry into the market will encourage more institutional investors to jump in.


    The range on Bitcoin has shrunk in the past three days. If the range expands on the upside, a rally to $6,831.99 is likely. A sustained move above the overhead resistance will invalidate the descending triangle and break the sequence of lower highs. Above $6,831.99, a rally to $7,400 is probable.   


    Our bullish view in the short-term will be invalidated if the bears sink the price below $6,500. The BTC/USD pair will turn negative if it breaks below the critical support zone of $5,900–$6,075.04. Therefore, traders can keep their stop loss at $5,900 for the long positions.

    We anticipate volatility to increase within the next few days. If the price breaks out to the upside, we shall trail the stop loss higher.


    Ethereum has been trading between the 20-day EMA and $188.35 for the past few days. A break down of the immediate support can push the price to the Sept. 12 intraday low of $167.32.


    If the bulls succeed in breaking out of the moving averages, a rally to the top of the range is possible. We shall turn positive on the ETH/USD pair if it sustains above $250.

    A break out of the range can carry the price to $322, which might act as a stiff resistance. Traders should wait for a confirmed breakout above $250 before initiating any long positions.


    Ripple’s volatility has died down. Both moving averages and the RSI are flattening out, which shows a balance between the buyers and the sellers.


    The resistances on the upside are $0.5, $0.55 and $0.625, whereas the two support levels are at $0.388 and $0.37.

    We suggest traders wait until the XRP/USD pair attracts more buying interest. We might propose long positions when we find a reliable buy setup above $0.5.


    Though Bitcoin Cash is trading inside a symmetrical triangle, the price has been hugging the support line for the past few days, which is a negative sign.


    The moving averages are gradually sloping down and the RSI is in the negative territory. This shows that the bears have an upper hand.

    A breakdown of the triangle will resume the downtrend and can plunge the BCH/USD pair to the next support at $300. Therefore, the traders can keep a stop loss of $400, just below the Sept. 11 intraday lows. The pair will turn bullish if the price breaks out of the triangle and sustains above it.


    The intraday range in EOS has shrunk in the past few days. The moving averages and the price are all bundled close to each other, with the RSI close to the neutral territory. This shows a lack of either buying or selling interest from the market participants.


    This extremely low volatility is unlikely to continue for long. Soon, the price will either jump up or plunge from the current levels.

    If the prices move up, a breakout and close (UTC time frame) above $6.8299 can be purchased. However, if the EOS/USD pair declines from the current levels, a fall to $4.493 and $3.8723 is probable. Traders can keep the stop loss on their existing positions at $4.9.


    Stellar is trading close to the downtrend line of the descending triangle, which is a positive sign. Though it has failed to break out of the overhead resistance, we like the way it has sustained above the moving averages.


    If the bulls succeed in breaking out of the triangle, the traders can establish long positions on a close (UTC time frame) above $0.27. The target objective is a rally to $0.36, with a minor resistance at $0.3.

    If the XLM/USD pair plummets from the current levels and breaks below the moving averages, a drop to the support zone of $0.184–$0.2 is probable.


    Litecoin has been trading close to the bottom of the $49.466–$69.279 range. On the previous two occasions, the bounce off the lows could not reach the top of the range, which shows that the sellers are in a hurry to liquidate on any small rally.


    The LTC/USD pair has formed a bearish descending triangle pattern that will complete on a breakdown and close below $49.466. A breakdown will be negative and can sink prices to the next support at $40.

    The first sign of bullishness will be a break out of $60, which will invalidate the bearish pattern. We shall wait for the price to sustain above $70 before turning positive


    Cardano has been trading close to the midpoint of the $0.060105–$0.094256 range for the past few days. The bulls are, however, finding it difficult to break out of both moving averages.


    If the bears sink the ADA/USD pair below $0.069, a retest of the critical support at $0.060105 is probable.

    On the upside, if the price scales $0.083, the cryptocurrency can rally to the top of the range. We shall wait for the price to either break out of the range, or fall to the bottom of the range before suggesting any trades.


    Monero has reached the 50-day SMA, which might act as a resistance. If the bulls break out of $112.5, the probability of a rise to $128.65 increases.


    If the XMR/USD pair turns down from the 50-day SMA, it can slide to $100. The moving averages are flat and the RSI is close to the neutral territory. This shows equilibrium between the buyers and sellers.

    If the bulls break out of the current range of $100.453–$128.65, the rally can extend to $150, which might act as a stiff resistance. A break down of $100 can plunge the pair to $81. We don’t find any buy setups, and are thus not recommending any trades on the pair.


    TRON has been trading inside the range of $0.0183–$0.02815521 for more than two and a half months. Currently, the price is trading in the upper half of the range.


    The next movement on the TRX/USD pair will start after the breakout or breakdown from the range. A breakout can carry it to $0.04158193, while a breakdown can sink it to $0.00844479.

    The price action inside the range will remain volatile. Therefore, we suggest traders wait for a breakout before establishing long positions.

    Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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  • Tom Lee, Speaker at the Upcoming Blockshow Asia: ‘Bitcoin is Preparing to Breakout’

    Tom Lee, Speaker at the Upcoming Blockshow Asia: ‘Bitcoin is Preparing to Breakout’

    Blockshow is announcing a new conference  - Asia Blockchain Week, which will be hosted in Singapore from Nov.  27 until Dec. 1, 2018. The blockchain and cryptocurrency conference will attract over 100 of the top industry leaders and crypto influencers, and more than 2000 attendees, from over 50 countries. The venue for this event will be held at one of the most beautiful locations in Singapore, the Marina Bay Sands Luxury Hotel.

    This year’s lineup of speakers at Asia Blockchain Week include Crypto-Congressman and Taiwan Legislator Jason Hsu; CTO at IBM, Former Head of Innovation at Mas, Stanley Yong; Co-founder & Managing Partner at Kenetic, Co-Founder Social Alpha Foundation, Jehan Chu; Co-founder of BTCC and Board Member of the Bitcoin Foundation, Bobby Lee; Partner at DFJDragon Fund/ DraperDragon Fund, Richard Wang; Partner at Fenbushi Capital, Remington Ong; Blockchain Educator, Founder of Boxmining, Michael Gu; Partner at Sora Ventures, Former Managing Director at JRR Crypto, Vanessa Cao; Partner at Fenbushi Capital, Remington Ong; Partner at Global Blockchain Innovative Capital, named as top 10 most influential crypto funds by 36kr (TechCrunch of China) and ODaily (Chinese Blockchain Media) will be present on the stage, Sinhae Lee, and many more leading industry professionals.

    One of the most anticipated speakers, Mr. Thomas Lee, is a Fundstrat Global Advisors co-founder and a Wall Street analyst with over 25 years of equity research experience. He has consistently been ranked as the top institutional investor every year since 1998. Thomas Lee was one of the first “traditional finance” professionals that was talking about Bitcoin, and he is well-known for his positive attitude towards cryptocurrency.

    Some of his recent quotes are: “Ethereum will rally strongly up to $ 1,900 by the end of 2019” and “Bitcoin could end the year explosively higher,” referring to an upcoming Bitcoin and cryptocurrency market trend reversal.

    The Blockshow team met with Mr. Thomas Lee during BlockShow Americas in Las Vegas to ask him why he believes Bitcoin will have a great next year, and whether he is expecting a financial crisis to happen imminently.  

    BlockShow: In your opinion, what will be the most profitable cryptocurrency next year? Will it be one of the well known currencies or do you expect some new players to have conquered the market?

    Mr. Thomas Lee: That is always very challenging to predict but I am sure it will be a token or coin with the best growth in active users. In the past year we saw the best performing cryptocurrencies have had the best growth in active users (e.g. EOS, XLM, BTC and DOGE). I at least expect Bitcoin to be one of the most profitable cryptocurrencies next year.

    BlockShow: What specific expectations do you have for Bitcoin in 2019?

    Mr. Thomas Lee: Bitcoin should have a great 2019, as many of the questions that are affecting cryptocurrencies this year are then behind us. That means we have regulatory clarity as well as the launch of ICE/BAKKT.

    BlockShow: What do you think about the prediction of J.P. Morgan, that the next major financial crisis will strike the U.S. economy by 2020? Is that something you can agree with?

    Mr. Thomas Lee: In my opinion, a financial crisis will be inevitable to take place but the exact timing will quite uncertain. There is a greater leverage today and the global central banks have less “wiggle” room because of the current low rates. With that being said, I am not expecting an imminent crisis.

    BlockShow: Do you believe it will be possible, that the entire Asian region will become crypto-friendly in the future?

    Mr. Thomas Lee: Asia is a region where I expect crypto to flourish. There is a large population of young people and countries are technically savvy. Also, there are already extensive use-cases of digital money and platforms such as WeChat and others.

    BlockShow: When will Bitcoin break-out of its long-run bear trend?

    Mr. Thomas Lee: Bitcoin is preparing to breakout. It has found support around the $6,000 level, which equals the breakeven for mining costs.

    BlockShow: How do you think events influence the blockchain industry?

    Mr. Thomas Lee: Blockchain is dependent on community support and conferences and events allow communities to gather.

    BlockShow: What is your opinion on the U.S. Dollar backed stablecoin USDT? What do you expect?

    Mr. Thomas Lee: I am comfortable that USDT is backed by USD and I have confidence in the Tether team.

    BlockShow: What do you expect from stablecoins?

    Mr. Thomas Lee: Stablecoins are a novel idea and I hope they work.

    Asia Blockchain Week tickets

    Tickets are available on the official BlockShow Asia website. There are also opportunities to sign up and contribute as a sponsor. Buy your tickets now and secure your front row seat for the best Blockchain Industry conference in the world!

    Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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  • UK Blockchain Startup to Enter EU Settlement System After French Regulator’s Approval

    UK Blockchain Startup to Enter EU Settlement System After French Regulator’s Approval

    U.K. blockchain startup Setl is about to enter an E.U. settlement system after receiving approval from the French securities regulator to run a central securities depository, the Financial Times (FT) writes Tuesday, Oct. 23.

    Setl, which develops blockchain solutions for the financial sector, received a license from the Autorite des Marches Financiers and can now connect to the Target2-Securities platform — a €1 billion pan-European network for securities settlement run by the European Central bank with the aim to increase the speed of cross-border payments.

    As per the FT, official approval for Setl to join the depository will be issued in a few weeks, and the settlement is expected to be launched in early 2019.

    Setl was launched in 2015 by the former CEO of the alternative European stock exchange Chi-X Peter Randall and Anthony Culligan, founder of peer-to-peer bitcoin trading website Roolo. The FT stresses that Setl, unlike other blockchain developers, uses a “permissioned ledger.” which is only available for a small amount of trusted parties to see it.

    E.U. countries have already been seeking blockchain implementation in different areas.

    In April, several E.U. member states and Norway created the European Blockchain Partnership to promote decentralized solutions throughout the union. By late September, it has been joined by 27 countries, including the U.K., France, Germany, and Malta. The Partnership reportedly hopes to make cross-border services — such as logistics and the regulatory sphere — safer and more efficient.

    In early October, the European Securities and Markets Authority (ESMA) noted that it had budgeted over 1 million euro for monitoring fintech and crypto assets.

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  • South Korean Financial Regulator Says Crypto Funds Violate Capital Markets Act

    South Korean Financial Regulator Says Crypto Funds Violate Capital Markets Act

    South Korea’s Financial Services Commission (FSC) has issued a statement to warn investors to be cautious while investing in cryptocurrency funds, according to documents published on the official FSC website on Oct. 24.

    According to the FSC, investors might be misled by cryptocurrency funds, mistakenly believing that those public funds represent legal investing tools that comply with South Korea’s Capital Markets Act.

    Citing the act, the FCS stated that public fundraising schemes must be approved and registered with the commission in order to operate legally. However, according to the FCS, such crypto funds are neither approved or registered, meaning that those companies are violating the country’s Capital Markets Act.

    The Financial Services Commission further revealed its plans to hold consultations with relevant regulators in order to take action against crypto funds in a move to protect investors from risks of potential financial losses.

    Earlier this month, FCS chairman Choi Jong-koo reiterated his negative stance towards digital currencies and Initial Coin Offerings (ICOs) when speaking at a parliamentary audit session of the National Assembly commission. The chairman claimed that the existing uncertainty around ICOs, as well as its potential damage to investors, are “too serious and obvious,” citing other countries that have prohibited this type of fundraising.

    South Korea’s financial authorities had banned all types of ICOs in September 2017, arguing that ICO token sales require too much monitoring and oversight. The initial ban has since been followed by subsequent suggestions for a reversal.

    On Oct. 2, a member of South Korea’s National Assembly called on the government to “open up the road” to ICOs by taking a softer stance in terms of regulations. Democratic Party lawmaker Min Byung-doo stated that the party will develop a project of for ICO legislation at the next session of the National Assembly.

    On Oct. 11, Cointelegraph reported that South Korea’s state authorities are “likely” to announce its official stance on ICOs in November.

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  • Chinese E-commerce Giant Alibaba Wins Preliminary Injunction Against Alibabacoin

    Chinese E-commerce Giant Alibaba Wins Preliminary Injunction Against Alibabacoin

    Chinese e-commerce giant Alibaba has won a preliminary injunction against Dubai-based Alibabacoin Foundation in a lawsuit over the misleading use of Alibaba in their name, financial website MarketWatch reports Wednesday, Oct. 24.

    The U.S. District Court for the Southern District of New York has sided with the Chinese corporation during the trademark infringement case hearing Monday, Oct. 22.

    Judge James Paul Oetken, as cited by MarketWatch, said that consumer confusion could occur due to the similarity of trademarks; therefore, the Alibabacoin Foundation should not use the confusing "Alibaba" part for its brand anywhere in the U.S.

    According to the Wall Street Journal (WSJ), the court's decision implies that the Alibabacoin Foundation will no longer be able to promote or sell its cryptocurrency in the country until larger action on this case is decided.

    In April, Alibaba sued the Dubai-based Alibabacoin Foundation for copyright infringement after the latter’s Initial Coin Offering (ICO) raised $3.5 mln. The Chinese giant stated that the company Alibabacoin engaged in “prominent, repeated, and intentionally misleading” behavior by using a similar name.

    In addition, Alibaba said that coin’s owners did nothing to combat or correct this confusion. The initial lawsuit was accompanied by a temporary restraining order against Alibabacoin.

    In May, a U.S. court ruled against Alibaba’s request for an injunction, and Judge Oetken negated a restraining order on the Alibabacoin Foundation’s activity.

    In early 2018, Alibaba was rumored to have plans to launch a cryptocurrency mining platform despite strict Chinese regulations. Later, the giant clarified the rumors, stating that its P2P platform had been mistakenly taken for a crypto startup. The company also added it has never issued virtual currencies and will not host any crypto mining platforms.

    In mid-October, the Alibabacoin Foundation reportedly offered for Alibaba to purchase their startup.

    According to the Alibabacoin Foundation’s website, the company wants to build a fund security system improved by a secret technique for implementing a blockchain algorithm into a facial recognition hashing process. According to CoinMarketcCap, Alibabacoin is ranked 1691th in global cryptocurrency rankings, and has seen a decline in price this week dropping from $1.6 per coin to $0.37 as of press time.

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  • Crypto Exchange Bitfinex Denies Allegedly ‘Fake’ Tether Volumes Listed on CoinMarketCap

    Crypto Exchange Bitfinex Denies Allegedly 'Fake' Tether Volumes Listed on CoinMarketCap

    Major crypto exchange Bitfinex has responded to a recent media report that accused the exchange of publishing trading volume data from “a market that doesn’t exist,” in a tweet posted Oct. 23.

    The controversy centers on an article from crypto media outlet CoinDesk, which had alleged that Bitfinex’s data on popular crypto statistics aggregator CoinMarketCap (CMC) was misleadingly inflated by reporting on a stablecoin Tether (USDT)-U.S. dollar trading pair, which as of press time appears to account for $33,598,474 — or 18.30 percent — of a total 24-hour traded volume of $182,742,351.

    The article had argued that since the exchange does not provide a USDT/USD trading pair, this was an intentional strategy to make it appear as though a large volume of such trades were occuring on the exchange. In fact, Bifinex users are only able to deposit and withdraw both Tether and U.S. dollars through their accounts, rather than execute such trades.

    A representative from CMC disclosed that the data was derived from Bitfinex’s in-house public application program interface (API), and was represented in CoinDesk’s article as being “confused” herself as to the meaning of the data point.

    Bitfinex has tweeted its response to clarify its position, with a link to the original CoinDesk article, stating that:

    “ … is the sum of USDt dep/wds to/from Bitfinex. We are not ‘publishing’ fake numbers; the API method is called ‘movement_volume’ and isn't part of our ticker API. Not pushed by us, pulled by CMC. Another not-so-brilliant example of anti Bitfinex/Tether FUD.”

    The API link that was provided by both the exchange and CMC’s representative to Coindesk does not lead to a live website as of press time. On Bitfinex’s website, it is noted that some parts of the API may require authentication.

    Bitfinex has not responded to Cointelegraph’s request for a live link by press time.

    Bitfinex has recently been prompted to deny rumors that it was “insolvent” or facing banking issues in response to reports that its banking partner, Puerto Rico’s Noble Bank International, was seeking a buyer and had lost both Bitfinex and affiliated firm Tether as clients.

    The following week, the platform temporarily suspended all fiat wire deposits without providing a specific reason, although it had acknowledged in its prior statement that “complications continue to exist” for Bitfinex “in the domain of fiat transactions.”

    The exchange’s circuitous history of banking relationships dates back to April 2017, when U.S. bank Wells Fargo & Co. allegedly refused to continue operating as a correspondent bank. Bitfinex then filed a lawsuit against the bank that was quickly dropped.

    Tether, for its part, has faced repeated criticisms of inadequate transparency over its claims to be backed one-to-one by the U.S. dollar, with some going so far as to accuse the firm of covering up an alleged fiat reserve deficit in complicity with Bitfinex.

    The rumors intensified when Tether allegedly dissolved its relationship with a third-party auditor this January. However, an unofficial audit in June reported that Tether did have the appropriate amount of dollar reserves held in an unnamed bank.

    Crypto investor and entrepreneur Michael Novogratz recently remarked on the Tether transparency controversy just as the stalwart coin had briefly lost its U.S. dollar peg, at one point trading as low as $0.91, amid reports of investors’ “loss of faith” in the asset.

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  • Binance’s First Crypto-Fiat Exchange in Uganda Goes Live

    Binance’s First Crypto-Fiat Exchange in Uganda Goes Live

    The world’s largest crypto exchange Binance has launched its fiat-to-crypto exchange in Uganda today, Oct. 24, according to an official announcement on Medium.

    Binance Uganda, Binance’s first fiat-to-crypto exchange in Uganda, has officially launched live trading, enabling users to buy two major cryptocurrencies — Bitcoin (BTC) and Ethereum (ETH) — with local fiat currency Ugandan shillings (UGX).

    The exchange had announced last week that Binance Uganda would open this week. Today’s statement reads that Binance Uganda is also a “first step” to the expansion of crypto exchange markets for a “more inclusive ecosystem that will involve fiat currencies.”

    According to a previous announcement on Oct. 22, Binance Uganda clients are set to be provided with zero-fee trading until Nov. 24. After that period, Binance Uganda will charge users with 0.1 percent trading fee, the statement says. Today’s statement does not mention the zero-fee trading.

    Following the announcement, Binance has also announced a recent donation of $500,000 for Uganda through its charity wing, Blockchain Charity Foundation (BCF). The statement says that the launch of the crypto-fiat exchange in the African country is part of the company’s intention to contribute to blockchain development in the country, as well as future plans to expand the technology across the African continent.

    Binance is currently the top global crypto exchange according to trade volumes that now amount to around $684 million as of press time. The crypto exchange first announced plans to launch a fiat-to-crypto exchange in Uganda in June this year.

    Also in June, Binance revealed plans to launch a fiat-crypto trading via an independent Malta-based exchange. Following the announcement, Binance signed a Memorandum of Understanding (MOU) with the Malta Stock Exchange’s fintech and digital asset subsidiary, MSX PLC, to launch a new security token digital exchange.

    Following a warning from Japanese financial regulators, Binance also revealed it will set up a subsidiary office at Malta, a country referred to as the “blockchain island.”

    More recently, Binance acquired an investment from a subsidiary of Singapore-based governmental investment company Temasek Holdings to support the upcoming launch of a crypto-fiat exchange in Singapore, which was announced in September.

    In early October, Binance CEO Changpeng Zhao announced that the company will give away all listings fees to charity, following users’ allegations about excessive fees for listing altcoins.

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  • Johnny Depp to Produce Film Within Crypto-Powered Content Distribution Platform TaTaTu

    Johnny Depp to Produce Film Within Crypto-Powered Content Distribution Platform TaTaTu

    U.S. actor and producer Johnny Depp is partnering with crypto-powered social entertainment platform TaTaTu, according to a report by film industry media Hollywood Reporter posted Monday, Oct. 22.

    As a part of the new agreement, the Hollywood star is going to team up with TaTaTu founder Andrea Iervolino in order to create and produce film and digital content together. According to the article, the content is set to be produced by the Infinitum Nihil film production firm owned by Johnny Depp.

    Andrea Iervolino, co-founder and CEO of the U.S. movies motion picture conglomerate AMBI Media Group, will be cooperating via his new blockchain-enabled initiative TaTaTu.

    Launched in May 2018, TaTaTu intends to combat illegal piracy and improve transparency for rights holders, as well as to assist high-quality brand advertising by using distributed ledger technology (DLT).

    The platform represents a combination of a social media website with a Video on Demand (VOD) service, which operates on an incentivized system by rewarding users with tokens for consuming content. Tokens can be also used by advertisers for payment on TaTaTu.

    Shortly after the launch of TaTaTu, Iervolino’s AMBI partner Lady Monika Bacardi invested $100 million in TaTaTu, commenting that the new blockchain-enabled film industry tool ““reinforces [her] bullish stance on the promise of blockchain technology and cryptocurrency.”

    In mid-June, Cointelegraph reported on Hollywood filmmakers’ plan to shoot a movie devoted to crypto this year, focusing on laundering via crypto assets and featuring cast members from popular U.S. series such as Westworld and Mad Men.

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  • Estate of Rap Group Wu Tang’s O.D.B. Plans December Launch of O.D.B. Coin

    Estate of Rap Group Wu Tang’s O.D.B. Plans December Launch of O.D.B. Coin

    The estate of infamous Wu-Tang Clan rapper Ol’ Dirty Bastard (O.D.B.) confirmed its Ol’ Dirty Bastard Coin (O.D.B.) will launch Dec. 1, music industry Magazine Vents reported Tuesday, Oct. 23.

    Originally announced in March and named Dirty Coin, the project — now known as the O.D.B. Coin — plans to use the proceeds from sales of the altcoin to fund various fan engagement projects. Cointelegraph reported at the time of the initial announcement that the issuance will be in partnership with Link Media Partners, a music A&R firm, and will be launched on the TAO network blockchain platform.

    The Initial Coin Offering (ICO) for O.D.B. Coin forms one of a new range of so-called Initial Artist Offerings (IAOs) by host platform AltMarket.

    “It’s designed to be an institution that respects the investments of our clients,” Vents quotes AltMarket CEO Bryce Weiner as saying.

    Ol’ Dirty Bastard was one of the founding members of the Wu Tang Clan rap group, which became famous for its debut album “Enter the Wang-Tu (36 Chambers)” in 1993. O.D.B. passed away in 2004 at the age of 35 of a reported drug overdose.

    O.D.B.’s son Young Dirty Bastard — whose real name is Barson Unique Jones — told Vents that he “look[s] forward to delivering even more music that would make Dad proud.”

    The move continues the occasional and sometimes curious trend of music stars’ engagement with the ICO phenomenon and cryptocurrency industry more widely.

    As Cointelegraph reported, rapper Curtis “50 Cent” Jackson pledged his belief in the technology, claiming he had accrued millions of dollars in Bitcoin (BTC) from a sales stunt several years ago before revealing he had never owned the funds.

    In September of last year, record producer DJ Khaled publicized his ownership of crypto debit card, the Titanium Centra Card, on Instagram. DJ Khaled has since removed the post, and the founders of Centra have been charged with securities fraud by the U.S. Department of Justice (DOJ).

    The formerly Dirty Coin project, now O.D.B. Coin, should not be confused with another altcoin of the same name from the pornography industry, which allegedly completed its ICO in December 2017.

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  • Japanese Financial Watchdog Grants Self-Regulatory Status to Local Crypto Exchanges

    Japanese Financial Watchdog Grants Self-Regulatory Status to Local Crypto Exchanges

    Japan’s Financial Services Agency (FSA) has given the local crypto industry self-regulatory status, certifying the Japanese Virtual Currency Exchange Association (JVCEA) to oversee the space, Cointelegraph Japan reports Wednesday, Oct. 24.

    The FSA expects the self-regulatory body to set rules to protect customers' assets, elaborate on anti-money-laundering (AML) policy, and give working guidelines to crypto exchanges.

    An unnamed FSA official cited by Reuters thinks that experts from JVCEA could cope better with regulations than a government body, noting that “it’s a very fast moving industry. It’s better for experts to make rules in a timely manner than bureaucrats do.”

    The self-regulation becomes effective immediately, starting Oct. 24, with the core rules and guidelines already published on the JVCEA's website. The watchdog has 15 employees so far, but it plans to increase staff up to 20 people by November, according to Cointelegraph Japan.

    The JVCEA was established in April 2018, consisting of the 16 companies that had registered as cryptocurrency exchanges. The group’s formation came after the January hack of more than $534 million of NEM from Japan-based crypto exchange Coincheck.

    The JVCEA describes its duties as inspecting the security of crypto exchanges in the country, as well other specific tasks like assessing tokens issued in Initial Coin Offerings (ICO).

    After the August hack of Japanese crypto exchange Zaif, which lost 6.7 billion yen ($59.7 million) worth of crypto assets belonging to both the company and its customers, the JVCEA announced stricter regulations for “hot wallets.” The organization also planned to establish a limit on the amount of digital currencies that could be managed online by any exchange.

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