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Showing posts from July, 2018

Chile Court of Appeals Orders Bank to Resume Business With Crypto Exchange Orionx

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Chile Court of Appeals Orders Bank to Resume Business With Crypto Exchange Orionx: Chilean Court of Appeals has ruled in favor of crypto exchange Orionx, resolving that the state-owned bank Banco Estado should reopen the company’s deposit account, local news outlet La Tercera reported July 12. \
The Fourth Chamber of the Court of Appeals of Santiago has accepted the appeal filed by Orionx crypto exchange against Banco Estado, which closed the company’s deposit account in late March. At that time, the bank cited the lack of “regulatory recognition of [cryptocurrency trading]” as justification for its decision. 
Read: Indian Police Find “Crucial Clues” in $300 Million GainBitcoin Scam
Now, by the ruling of the Court of Appeals, Banco Estado has been ordered to reopen the deposit account of Orionx. 
The Court called the bank’s original decision to close it an “arbitrary and illegal action, which constitutes a deprivation of the right protected by Article 19 No. 2 of the Political Constitutio…

Indian Police Find “Crucial Clues” in $300 Million GainBitcoin Scam

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Indian Police Find “Crucial Clues” in $300 Million GainBitcoin Scam: Police investigations into the infamous cryptocurrency Ponzi scheme GainBitcoin, estimated at $300 million, are fast making progress as authorities have stated they now possess “crucial clues” on how the fraudulent organization laundered money.

Read: What Crypto Really Thinks About Litecoin's Banking Ambitions
“Crucial Clues”  As reported by The Indian Express on July 13, 2018, police from the Indian state of Gujarat are actively probing the multi-million scam, stating the interrogation of prime accused Amit Bharadwaj has led to several hints on how the massive operation took place over the years.

Interestingly, Bharadwaj was placed under interrogation by crime forces of five Indian cities, to no avail.  However, a special investigation team from Pune seems to be successful in this regard, as they received valuable information from Bharadwaj and seven other people acting as GainBitcoin “agents, including a motivationa…

What’s Behind the Multi-Billion Dollar Venture Capital Interest in Crypto?

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What’s Behind the Multi-Billion Dollar Venture Capital Interest in Crypto? The mercurial rise in popularity for the ICO fund-raising model has led many industry observers and evangelists to conclude that the days of venture capital are long gone. 
Indeed, the market for ICOs has exploded in the past year and a half. During the first quarter of 2018, ICO funding easily outstripped the full year sum for 2017. 
The ability for retail investors to contribute to projects they believe in, and the freedom it grants companies themselves, made ICOs appear as the only solution going forward. Even so, the VC world has not stayed on the sidelines as many participants would be led to believe. 
The sector’s search for new profitable ideas and opportunities meant that eventually, the draw of cryptocurrencies and blockchain would be too strong to pass up.

Read: Ether and Bitcoin Cash Rise 3% as Market Adds $8 Billion, Can Momentum be Sustained? Many VC firms have also had time to establish themselves in t…

Top Swiss Stock Exchange Says It Is ‘Open’ to Offering Crypto Trading on Its Platform

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Top Swiss Stock Exchange Says It Is ‘Open’ to Offering Crypto Trading on Its Platform: SIX Group, the parent company of Switzerland’s principal stock exchange, has revealed that it is “open” to the possibility of offering cryptocurrency trading services on its digital trading platform. 
The platform, still in development, is set to launch by mid-2019, SIX Group’s spokesman told the Swissinfo news outlet in an interview July 15. 
Swiss Infrastructure and Exchange (SIX) Group operates the country’s largest stock market and is planning to launch a “fully-regulated” platform for digital asset trading by mid-2019.  The service is set to offer a “complete” range of services from, including initial coin offering (ICO) consulting for those ICOs that are not classified as securities. 
In the interview with Swissinfo, SIX Group spokesman Stephan Meier claimed that there is a “real need” for the establishment of “transparency and accountability in the crypto-world.” 
According to Meier, this would be…

What Crypto Really Thinks About Litecoin's Banking Ambitions

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What Crypto Really Thinks About Litecoin's Banking Ambitions: It was news that was perhaps too strange for crypto's typically divided reactions. 

First revealed Wednesday, the Litecoin Foundation, the non-profit that develops the software that powers the sixth-largest cryptocurrency, bought a stake in a very real, non-crypto bank. 
The move was met with applause and scepticism, but also a stunned sense of disbelief from nearly all sides.  Was it a sign that crypto is becoming so powerful it will soon overturn the rule of banks? 
Certainly, that theory was well-represented in the initial reactions... Indeed, the news had imaginations operating at full speed, with some going so far as to think that the crypto industry might be on a bank buying spree. 
What the companies said  But while some were looking into a possibly far-off future, others took a more measured look. First, there was the news itself.

Read: www.bitserial.io: How to Register, Sign In Account & Start Earning BTE
Speci…

Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400

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Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400: Bitcoin (BTC) has gone above the $6,300 mark, up about 1.5 percent over the past 24 hours, trading at $6,354 at press time. 
The top cryptocurrency continues its growth after dipping to an intraweek low of $6,180 on Friday. Ethereum (ETH) is up 3.4 percent on the day, trading at $448 at press time. 
Read: Ether and Bitcoin Cash Rise 3% as Market Adds $8 Billion, Can Momentum be Sustained?
The coin has gone as low as $424 during the week, and it is still down around 10 percent over the past 30 days.  After plunging to $242 billion on July 13, the total market capitalization of all cryptocurrencies is back to its average monthly levels, currently just below $256 billion. 
Stellar (XLM) is currently the biggest winner among the top ten coins by market cap, up 6.1 percent and trading at around $0.218 at press time. XLM is also the only coin among the top ten that has seen gains over the week, amounting to about 3.3 percent.

Ether and Bitcoin Cash Rise 3% as Market Adds $8 Billion, Can Momentum be Sustained?

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Ether and Bitcoin Cash Rise 3% as Market Adds $8 Billion, Can Momentum be Sustained? In the latest news, a report has it that over the past 24 hours, the crypto market has added $8 billion to its valuation, as the price of Bitcoin Cash and Ether rose by more than 3 per cent.  Very Low Volume  The bitcoin price came close to breaching the $6,400 level but failed to continue its corrective rally above the $6,400 region. As of July 15, the price of bitcoin remains at around $6,350, after demonstrating a daily gain of around 1.9 per cent.
Bitcoin Cash and ether, the native cryptocurrency of the Ethereum blockchain network, rose by 3.5 per cent, supported by an increase in volume. 0x (ZRX) and Tezos (XTZ) recorded daily gains of 17 per cent and 12 per cent, becoming the best performers of July 15.

The Relative Strength Index (RSI), momentum average convergence divergence (MACD), and moving averages show that bitcoin and the rest of the crypto market are expected to continue their upward moveme…

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