Monthly Archives: October 2020

BitMex denies CFTC and DoJ allegations, says trading will continue

Despite criminal charges from the DOJ and at least one arrest of its leadership, Bitmex promises to continue operating as usual. In a blog post published Thursday afternoon, Bitmex lashed out at charges that the Commodity Futures Trading Commission and Department of Justice filed against the exchange and its management earlier today. Bitmex’s statement claimed that “From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance.” What exactly “applicable U.S. laws” are […]

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Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range

The Bitcoin network has achieved a few new milestones during the last week, as the price has remained above the $10k range for a record 66 consecutive days. Meanwhile, the network has surpassed 18.5 million bitcoin issued, as the global hashrate coasts along at an all-time high of 140 exahash per second (EH/s). As of today, October 1, 2020, bitcoin (BTC) has closed above the $10,000 price range for 66 straight days. The last time BTC saw the price stay above $10k consecutively was on December 1, […]

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It looks like the SEC isn’t done with trading app Abra just yet

The SEC’s investigation into the crypto trading firm, which paid fines of $300,000 in July, apparently continues. Back in July, the Securities and Exchange Commission alongside the Commodity Futures Trading Commission fined investment app Abra for providing trading on synthetic assets.  At the time, that looked like the end of the matter. However, in response to Cointelegraph’s Freedom of Information Act (FOIA) request for details in the Abra case, the SEC cited FOIA exemption 5 U.S.C. 552(b)(7)(A) — an exemption that only applies to ongoing investigations. The […]

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Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades

Chinese exchanges are becoming increasingly blockchain-friendly Shenzhen’s stock exchange, one of the biggest exchanges in the Asia-Pacific region, announced that they have co-launched a blockchain solution for trading with unlisted private-sector companies. This new platform was created as part of the Beijing Regional Trading Center. The report also indicated that the platform will be co-piloted with the Beijing Fourth Board Market, or BFBM — the city’s regional equity market. Both groups expect to “reduce the cost of information asymmetry, standardize corporate equity management, and better play the […]

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3 reasons why the CFTC action against BitMEX will not crash Bitcoin price

Bitcoin price declined by 4% after the CFTC revealed charges against BitMEX but BTC remains bullish in the long term. Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred as authorities announced the arrest of Samuel Reed, one of the co-founders of BitMEX. BitMEX has been the most dominant Bitcoin futures exchange for a long time, at least until March 2020 […]

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Video: Fed Watch — Economic Crisis Analysis With Lyn Alden

On the latest episode of Bitcoin Magazine’s Fed Watch podcast series, the hosts are joined by one of the great macro pundits of the last few years, Lyn Alden. Alden has a fantastic grasp on the history of macro economics. In this interview, the groups focused on placing our current time into historical context, comparing it to previous cycles and economic crises so that we might take some lessons away. The show also continued its search for a definition of money today, and a deeper understanding of […]

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Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls

Is Ethereum’s recent accumulation an omen of prosperity? Miners and whales signal increased confidence in the coin’s long-term potential. The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that regular users are returning to Ethereum in response to lower transaction fees. Several influential Ethereum cohorts — including miners and some of Ethereum’s largest non-exchange addresses — have been showing signs of ongoing accumulation and increased confidence in the coin’s long-term potential. After a period of redistribution and short-term selloffs by Ethereum’s block creators throughout […]

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Penn State set to host its own node for an enterprise blockchain

Penn State snagged one of GoChain’s node operator spots. Penn State, a U.S. university touting more than 40,000 students, has agreed to operate as a signing node for GoChain’s proof-of-reputation, or PoR, blockchain.  Constructed as a fork of the Ethereum blockchain’s code, GoChain is secured by selected entities who run their own nodes, Marie Gonzalez, GoChain’s senior vice president of marketing, told Cointelegraph. GoChain’s blockchain uses a consensus mechanism called PoR, which calls on a set number of approved signing nodes to help run the network. The blockchain […]

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Bittrex Global gets cleared to run crypto exchange from Bermuda

Bermuda continues to welcome fresh wave of crypto exchanges on the island. Crypto exchange Bittrex Global received the green light from Bermuda’s financial watchdog to run its operations under the supervision of local authorities. According to the official announcement, the company got a full “Class F Digital Assets Business Act” license from the Bermuda Monetary Authority, or BMA, which will allow them to offer crypto services such as futures, subject to further approval by the watchdog. Bermuda’s positive regulatory stance towards crypto comes within the context of […]

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ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO

A US court has ruled in favour of the US SEC after the regulator’s filing of a motion seeking summary judgment against Kik for violating the country securities laws. Kik, which raised $100 million from 2017 ICO, had filed its own motion of summary judgment but the court refused to grant this. In his judgment, US District Court Judge Alvin Hellerstein agrees with the US SEC’s contention saying “undisputed facts show that Kik offered and sold securities without a registration statement or exemption from registration, in violation […]

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