Landmark Crypto Ruling Dismissed the Coin Appeal, by the Singapore Appeal Court

In the country’s first legal dispute involving cryptocurrency, the Singapore Court of Appeals has ruled that virtual currency exchange Quoine must pay damages to electronic market maker B2C2. The losses are for seven transactions that were incorrectly reversed on the platform during April 2017.

According to The Straits Times on 24 February, the court rejected Koin’s appeal, with the exchange arguing that it was entitled to unilaterally cancel the orders due to such a mistake.

The exchange argued that the parties fulfilling the B2C2 order of selling ether (ETH) for bitcoin (BTC) at a price of 10 BTC per ETH, presumed that their orders would be up to 250 times above market value. Were executed at the current market price. It further claimed that B2C2 was aware of this mistake.

In the February 24 ruling, four of the five judges of the Court of Appeal rejected Quain’s appeal, with Chief Justice Sundaresh Menon, Appeals Judge Andrew Fang and Judith Prakash, and International Judge Robert French saying there was no mistake. Trading contract executed on the platform. Judge Jonathan Mains was the only assistant dissenting on the case.

B2C sells 309 ETH for 3,092 BTC during 2 April 2017
The court found that both B2C2 and Quoin were operating complex automated trading systems to execute high volumes of trades on the Coin Exchange. It was further revealed that these systems tried to exploit the spread between cryptocurrency prices across multiple exchanges.

Facing a lack of sufficient market data, B2C2’s intermediary bot will return to a “deep price” of 10 BTC per ETH. During April 2017, a bug in Quoine’s software resulted in a deeper price for B2C2, before seven orders were completed on April 19, 2017, with B2C2 being sold for about 309 ETH for 3,092 BTC.

Shortly thereafter, Quoine deducted 3,085 BTC from B2C2’s account.

Quoine ordered damages to B2C2
While the Singapore International Commercial Court (SICC) ruled that Quinn would have to pay B2C2 damages approximately 12 months before, the parties were unable to come to a consensus about the sum to be repaid.

The SICC did not decide that the quoin would have to return 3,085 BTC to the market maker, with Judge Simon Thorley stating that current bitcoin prices were “significantly higher than the price in April 2017 when the trades were executed.”

Additionally, B2C2 sold about one-third of BTC before trades were reversed, with the automated trading bot loading coins into nine different exchanges. Thus, a SICC judge determined that an order granting a specific amount of money to repay B2C2 would “” give Quoine sufficient difficulty, which does not extend beyond any potential difficulty in assessing the loss. “

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The new blockchain forensic tool developed through French-Austrian cooperation

The new blockchain forensic tool developed through French-Austrian cooperation

The French cyber security company Nigma Concil and the Austrian Institute of Technology (AIT) have collaborated on developing a new blockchain forensic tool. The agreement was signed on 25 February to work on the proposed compliance device, E-Nigma.

E-Nigma provides its users with a way to conduct appropriate investigations in response to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Like other similar devices, this blockchain monitors and organizes transactions.

The platform offers many advanced features such as risk scoring and wallet clustering. It is capable of identifying real-life identified addresses by scraping through both the clear and dark web.

It is provided by AIT, GraphSense on the open source cryptocurrency forensic platform. AIT is a government-owned research institute headquartered in Vienna.

The technology was created as part of an AIT-led program called TITANIUM, designed to investigate transactions in “underground markets”. The program was awarded a grant of 5 million euros ($ 5.4 million) by the European Union to reduce cryptocurrency crime.

NIBMA Conseil CEO Fabin Taberly commented on the collaboration:

“The synergy between a leading European academic research institute and our team of developers has been instrumental in implementing the most innovative tools to fight financial crime in virtual currencies. “

Blockchain Forensics
E-Nigma is operating in a competitive field, with similar solutions being provided by companies such as Chainalysis, Elliptic and CipherTrace.

As money laundering regulations around the world become more stringent, many companies in the cryptocurrency and traditional finance sectors are turning to blockchain forensic tools.

Chainalysis recently collaborated with both Bitfinex and TetherAnnounced C, helping the service provider maintain compliance.

Elliptic has focused its attention on banks, with a compliance tool to help them understand the true risk from cryptocurrency exchange transactions.

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The crypto-friendly banking app is now one of Europe’s most valuable fintechs

The crypto-friendly banking app is now one of Europe’s most valuable FintechsNEWS
United Kingdom-based digital bank Revolut has raised $ 500 million in a new funding round and its valuation has reached $ 5.5 billion. This, as the Financial Times reported on February 25, makes the crypto-supporting app one of Europe’s most valuable fintech firms.

Since late 2017, Revolut’s app has enabled its users to complete transactions in cryptocurrencies involving Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and XRP.

In December 2018, the firm obtained a banking license in Lithuania, paving the way for a transition away from prepaid cards, offering a fuller suite of banking services.

The valuation is at par with the preceding record for European fintech
The new funding round was led by Silicon Valley Venture Capital Group TCV, which invests in key tech players such as Facebook, AirBnB, TripAdvisor, LinkedIn and Spotify.

TCV’s $ 5.5 billion reverse revival in 2019 is equivalent to the previous record set by Karlna of Sweden, a private European fintech.

In 2018, the firm was valued at $ 1.7 billion in the initial Facebook and Spotify backer DST Global-led funding round.

Revolut – which has a user base of over 10 million – saw more than 150% customer growth last year. With its cryptocurrency and stock trading facilities, the firm is looking to expand into lending services and the U.K. Banking is pursuing license.

U.K. Disruptors are proving to be a very lucrative market for banks – sometimes dubbed “Nobank” – with users rising from 7.7 million to 19.6 million last year, according to a report released by Accenture yesterday is.

The first half of 2020 could also mark the beginning of the Herald’s launch in the United States should the company manage to overcome regulatory hurdles. It is also expanding into Latin American and Asian markets.

Neobank and cryptocurrency banks gain traction
As recently reported, Mark Hipperson, co-founder of UK-based Neobank Starling, plans to launch Jigloo, a new banking venture in Q1 2020. The bank will offer balances in multiple currencies – both fiat and cryptocurrency – in an account held together, which can be spent globally using a MasterCard debit card.

Hybrids continue to develop combining legacy banking services and cryptocurrency transaction facilities. This week Coinbase announced its membership membership of Visa and crypto-dedicated banks such as SEBA and Syngam of Switzerland, with their services continuing to diversify.

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Germany’s second largest exchange boost Stuttgart listed short bitcoin ETP

Germany’s second largest exchange boost Stuttgart listed short bitcoin ETP
Investors looking for bitcoin (BTC) have a new option in Germany. On February 25, Boerse Stuttgart – the country’s second-largest stock exchange – announced the listing of an exchange-traded product (ETP), which is part of cryptocurrency Price is the opposite of swings.

Hedge against all scenarios
The inverse ETP is issued by the crypto fund manager, formerly known as Aman. Whenever the price of bitcoin falls, the product offers investors a positive return – daily management fee.

Already listed on the SIX Swiss Exchange, Switzerland’s leading stock exchange, 21Shares Short Bitcoin ETP (SBTC) will reach an even wider investor base through Butcher Stuttgart, which reported trading volumes of EUR 68.5 billion last year. .

21Shares CEO Honey Rashawan has claimed that “investors in Germany have demonstrated strong support for prior crypto offerings” and the firm is responding cautiously, however, to this strong demand.

SBTC, which trades in Euros, is fully hedged 1: 1 with this underlying asset and has been issued the WKN German Securities Identification Code (WKN: A2781V).

21Shares has actually used Bitcoin (BTC), Ether (ETH), XRP, Binance Coin (BNB) and Tezos (XTZ) as well as a basket of currencies.Has designed a suite of derivatives to track.

21Shares also confirmed today that its PD3 prospectus regulation for existing ETPs governed under Swiss law was approved by the Swedish Financial Supervisory Authority.

In a statement, 21Shares managing director said the approval represents a milestone for traditional investors and the crypto community, opening up crypto-based ETP products to both retail and institutional customers in Germany and throughout Europe.

In a previous interview with Cointegraph, CEO Honey Rushwan pointed to the “massive” demand for crypto derivatives, yet noted that many products that exist today remain as options / futures and “mostly uncontrolled” Are out of geography. ” “

This situation, he argues, both to close institutional investors and as a result of such complex and management-intensive products, also turns retail investors away.

Past offerings
Last year, 21Shares – better known as Amun – partnered with Bitwise, a crypto asset manager on another multi-crypto-based ETP that tracks the performance of 10 cryptos, also listing on the SIX Swiss Exchange. for.

Boerse Stuttgart has partnered with the first European digital publication Titan Excel Springer and to launch a blockchain-driven trading site that previously had a zero-fee crypto trading app.

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Billionaire investor Tim Draper left the stock for bitcoin 6 months ago

Tim Draper now holds “a lot” of his portfolio in bitcoin (BTC) after he moved his stock out of the public stock markets six months ago.

Speaking to CNBC on February 24, the VC investor and serial bitcoin proposer revealed that he had significantly added to his crypto holdings since last year.

Draper: “Uber drivers were business of the day”
“This is a lot, a lot, a lot,” he replied when looking at how far his faith in bitcoin grew.

“I’m just a believer – and I look up and I say, ‘Hey, this is just better. Long-term, people move towards things that are better.”

Draper was speaking in his distinctive bitcoin logo tie as concerns over coronoviruses led to a fall in stock markets around the world.

Continuing, he confirmed that exposure to the crisis was limited due to previous concerns that stocks were too “weak”.

“It became very frightening – the market got very excited and Uber drivers were doing day trading, all the signs were there,” he said.

Draper said that his VC firm, Draper Associates, was still active in the private markets. His other major crypto investment, Tezos (XTZ), has more than doubled since the beginning of the year.

Buffett rejects crypto criticism
Several other comments were already known to Bitcoin supporters, including the $ 250,000 price target, which Draper now thinks will come by 2022.

During that time, the health of investments such as banks and insurers will change dramatically for the worse, he warned, disagreeing with comments about the bitcoin from Warren Buffett, president of Berkshire Hathaway, earlier Monday.

“Of course he’s worried,” Draper retaliated.

In his latest anti-bitcoin dietribe, Buffett claimed that cryptocurrency en messages were not productive investments.

“Cryptocurrencies basically have no value and they do not produce anything,” he told CNBC.

“So you can look at your small producers for the next twenty years and say that you’ve got an X of this cryptocurrency or that – it doesn’t reproduce, it doesn’t deliver, it doesn’t mail you a check Could. ” It cannot do anything. And what do you expect someone else to come with you and give you more money for it. “

As Cointelegraph pointed out, BTC / USD remains the star investment of 2020, with year over year growth exceeding 40% at one point.

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Blockchain calls Warren Buffet a crypto gift, Justin Sun

Warren Buffett recently said that he does not own any cryptocurrency, but Tron (TRX) founder Justin Sun is different.

Speaking to CNBC reporter Becky Quick on February 24, billionaire Buffett said he did not own crypto and lacked its purpose.

“I do not own any cryptocurrency. I never […] You can’t do anything except sell it to someone else. “

However, on 25 February, Sun stated in a tweet that heHe gifted cryptocurrency to Buffett and this blockchain data proves that the billionaire did not transfer his gift of crypto assets:

“Cryptos $ BTC / $ TRX Mr. Buffett has intact w / #blockchain evidence that is the beauty of blockchain.”

The Sun also acknowledged that, while Buffett owns “cryptocurrency”, he would not define Buffett as a crypto investor. Sun said that they have already increased the value of Bitcoin (BTC) and Tron by 20%.

Buffett made a gift at his famous charity lunch, which Ravi won at auction last year. The two met at a private not-for-profit country club in Nebraska with other cryptocurrencies including Charlie Lee, founder of the Litoin Foundation, and Chris Lee, CFO of major cryptocurrency exchange Huby.

Financial heavyweight criticizes crypto for illegal connections
Warren justified his lack of interest in cryptocurrency by saying that they are of no value and that “bitcoin has been used to illegally roam reasonable amounts.” He is not the first member of the world’s financial elite to express disinterest in cryptocurrency due to its alleged proliferation in illegal activities.

For example, in February 2018, Bill Gates stated that cryptocurrency was “a rare technology that has directly caused death,” referring to drug-related deaths.

Billionaire Mark Cuban, like Buffett, sees bitcoin as valueless. He said at the end of September that he would be “instead of bananas” compared to bitcoin, as he could at least eat them.

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Coincheck is available for trading soon

Coincheck Announces Qtum Soon Available for TradingNEWS
Japan may be on its way to creating a state-issued digital currency, but local companies in the world’s third-largest economy can still provide some healthy competition.

Coincheck, a crypto exchange based in the Asian nation, currently handles trading, sales and purchases for eleven cryptocurrencies. They announced on 25 February that they were planning to add one more to the mix. Cryptocurrency Qtum (QTUM) will soon be the 12th available for trading on the exchange. How will Qtum differ from the existing Coincheck cryptocurrency?
As with other cryptocurrencies of the exchange, Coincheck will allow its users to send, receive, buy and sell Qtum.

However, they will also be able to use Qtum for Quantec’s lending service. Under the existing service, users can give their cryptocurrency to the exchange by agreeing to a loan contract agreement. Once this contract expires, Coincheck will return cryptocurrency with an annual percentage rate above it. The exchange claims an annual interest rate of up to 5%.

Qtum is a blockchain platform established in December 2016. They are working with both Google and Amazon to develop their Dapps platform. As of February 25, a release date for the cryptocurrency has not been set.

By Turner Wright
Warren Buffett does not want to own any cryptocurrency

“Cryptocurrency basically has no value,” Warren Buffett said in an interview on Monday.

Speaking to CNBC reporter Becky Quick on February 24, the world’s fourth-wealthiest person discussed her impression of bitcoin after a fundraiser. In attendance were Tron CEO Justin Sun and longtime believers in crypto.

In May 2019, the two gathered with others at a fundraiser for the Glide Foundation, a charity organization helping the homeless in San Francisco. Speaking billionaire to billionaire, Young Sun suggests veteran Warren consider investing in cryptocurrencies.

However, when pressured whether Sun had given him any bitcoins after the exchange, Buffett laughed:

“I do not own any cryptocurrency. I’ll never do it … you can’t do anything except sell it to someone else. “

He also commented on the fact that cryptocurrency is linked to money laundering and terrorism:

“Bitcoin has been used illegally to withdraw a fair amount of money.”

Buffett made the bulk of his fortune from hedge funds and insurance. He has estimated assets of $ 88.9 billion.

Billionaire Investors in Cryptocurrency
Bitcoin has prominently seen investments from millionaires and billionaires alike, but as Warren demonstrated, some who made their fortunes using more established means are reluctant to accept cryptocurrency. The billionaire, Mark Cuban, who rose to fame in the dot-com bubble, has said that he is instead a “banana” of bitcoin.

On the other hand, there are some success stories. While Tyler and Cameron Winklevos may not have gained the benefits of Facebook, the two have combined for over $ 1.4 billion after finding crypto exchange Gemini.

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Blockchain security company CoolBitX raised $ 16.75 million in Series B

Blockchain security company CoolBitX raised $ 16.75 million in series BNEWS
CoolBitX, creator of cryptocurrency-storing CoolWallet, continues to be popular with investors. In a press release today, the Taiwan-based startup announced that it had received additional funding for the expansion.

Led by Japan-based SBI Crypto Investment Company Limited, Monex Group, Bitsonic and Taiwan’s National Development Fund, the group provided Coolbit X $ 16.75 million from the Series B funding round. To date, the company has raised $ 30.25 million: $ 500,000 from a seed funding round, $ 13 million from Series A and the most recent round.

With this new funding ready, CoolBitX CEO Michael OU spoke to Cointegraph on the future of the Signagna Bridge, the company’s signature solution to the Financial Action Task Force (FATF) regulations. Sygna Virtual Asset Service Providers are licensed or registered in any 200 global jurisdictions, while still allowing regulatory compliance to be user-friendly.

“In the past, there was no such infrastructure to facilitate behavior [between crypto exchanges]. So we built the Sinaga Bridge… Whenever we conduct transactions for our customers, we share customer information in a private and secure channel. “

The deadline for complying with the FATF’s travel rule is rapidly increasing in many countries. To date, many crypto exchanges have already started or imp is building the Cigna bridge to meet this compliance. CipherTrace and Shyft Network are also working with the exchanges before the deadline.

CoolBitX Strategy for 2020
Japan could be the next major expansion for CoolbitX as the Cigna Bridge becomes more accepted by exchanges in other countries.

“Sygna’s progress is in line with progress made in crypto KYC / AML in various Asian jurisdictions, especially Japan. As such, CoolBitX will set up a Sygna unit in Japan this year as we are committed to open dialogue with local dealers. “

While the series B investment will certainly be a boost for Sinaga, CoolBitX has more of its sights. Ou discussed what this funding would mean for his company’s future:

“We are looking for more development every year. I am sure by the end of this year we will have even more news to share as we are rolling out more product lines which will help in the growth of our company. Overall, what we want to achieve is not just a valuation of the company or the money we raise. We want to promote mass adoption of the crypto space. “

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Bitcoin and traditional markets drop 3% as coronavirus virus in Italy

Markets in the United States and Europe fell sharply on Monday morning as investors feared the continued proliferation of COVID-19, also known as coronavirus, intensified.

Earlier in the day, the Italian government set up a quarantine in 10 towns, as the number of people infected with the highly contagious virus rose to 152 and to date 7 people have died.

The threat to COVID-19 introduced to global markets has diminished as China’s intensified intervention and strict nationwide accompaniments portray the picture that a global epidemic was avoided.

TIG spreads to traditional markets
DJI and S&P 500 daily chart.

COVID-19 is now present in 30 countries and the spread of the virus in Iran, South Korea, Bahrain and Kuwait over the past few weeks, as well as recent outbreaks in Italy have forced investors and governments to come to terms with the possibility. The situation is getting worse.

At the opening bell, the Dow Jones Industrial Average returned sharply, falling 1,031 points to 27,960.80. The market has seen the most improvement since December and February 2018, the 3.56% decline. The profit the Dow has made in 2020 will erase everything.

The S&P 500 made a similar knock, falling 3.4% to 3,225.89, while the Nasdaq Composite fell 3.7% to 9,221. Markets across Europe also improved rapidly.

A growing number of analysts now fear that today’s sharp pullback could trigger a 10% to 15% recovery as mass quarantine in many major Chinese cities is expected to negatively impact markets and international trade.

CNBC Mad Money host Jim Kramer clarified that the stock is currently “too toxic to touch”I “because US-based companies are” too much dependent on manufacturing in China “. Kramer urged caution in the opportunity to see the current pullback as an opportunity to buy and said:

“I need to emphasize again, the major risk from the coronovirus outbreak is with disrupted supply chains around the world and a concomitant business slowdown.”

Bitcoin price falls as gold and silver pop
Interestingly, as markets corrected, the price of bitcoin (BTC) remained limited throughout the day, but eventually returned 3.28% to $ 9,473 during the US afternoon hours.

Many bitcoin advocates believe that the digital asset is the opposite of traditional markets and it has often been suggested that investors would flock to it as a hedge against volatility in traditional markets, but this was not the case today.

Bitcoin daily price chart.

Despite a 3.28% pullback, bitcoin continues to trade in the $ 9,400 to $ 9,900 range at the time of publication. As there was a slight loss in value, the price of gold rose almost 7% to a new 7-year high at $ 7676.60 and silver rose equally thereafter.

Gold, silver, BTC / USDT daily chart.

Crypto investors and analysts believe that bitcoin has failed to follow the gold edge today as crypto assets are often referred to as ‘digital gold’.

Earlier, in the volatility in traditional markets and in geopolitical instability, the price of bitcoin made a significant gain. In 2019, the digital asset rallied strongly as tensions over the US-China trade war and negatively affected the markets when investors feared earlier this year that the US was on the verge of war with Iran.

Investors will now look to see if there is a relief rally on Tuesday as stock markets around the world and crypto investors will be likely to cross their fingers with the expectation of a bitcoin price after any short-term recovery by traditional markets .

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Lawyers who gets to lead class action suit against Duke but Duke out this

Lawyers tell more than Duke who leads class action suit against TetherNEWS
In an American courtyard for the Southern District of New York, Judge Catherine Phila sued Ifinex et from three plaintiff teams this afternoon. al. And to serve as lead counsel in the emerging class action with a possible tens of thousands of injured members.

IFinex’s Teether (USDT) fixed currency firm and its Bitfinex subsidiary have been accused of manipulating the bitcoin market in 2017 – something that the firm strictly denies.

Kyle Roche, representing plaintiffs Leibowitz et. al. Argued that his firm Roche Cyrulnik Freedman LLP was the first to investigate alleged market manipulation, the first to file a complaint, and also the top cryptocurrency expertise. “Cryptocurrency is unique,” Roshe said, “the law is new, and this case presents difficult definitive issues.”

The case should not be limited to bitcoin issues only, he argued; This should include other cryptocurrencies such as Ether that have been harmed by the alleged pump-and-dump scheme.

“Cryptocurrency really works as a market. People who buy a cryptocurrency often buy many, especially in a bubble “as it did in the summer of 2017,” Roche said. He referred to page 43 of the so-called Griffin Papers, presenting it in evidence.

That academic paper, is bitcoin really un-tethered? John M. Posted in June 2018 by Griffin and Amin Shams and later updated. It investigated whether tether was used in the prices of bitcoin and other cryptocurrencies during the 2017 boom. The authors found that the buying time with Teether had ended after the market declined and as a result “bitcoin prices have increased.” This paper became a foundational piece of research for all four subsequent lawsuits.

Many in the crypto community have long suspected that Tether is actually claimed by the US dollar in a one-to-one ratio. The Griffin paper also found the Insur ether Patient Tether repository “before the end of the month”.

As shown in Griffin’s paper, Roche stated that the price of bitcoin was decreasing before the issuance of Teether, but the price of bitcoin rose after it was released by Teether – and the same happened with six other crypto currencies .

Lawyers researched against experience
Karen Lerner of Kirby Mcinerney LLP, Plaintiff’s Youth, Kurtz, representing Crystal et. Al., Argued that a different kind of experience was more important in such an action. “We are class action lawyers, and we are antitrust and commodity lawyers.” And, he argued that even though he was not the first to file a complaint, his work was the most original, with a comprehensive regression analysis covering 115 moreSpecific dates were identified when the market was manipulated and 256 actual transactions occurred. His firm’s proprietary algorithm would show “a lockstep pricing relationship between spot bitcoin and bitcoin futures”, she argued.

Brian Cochran, a lawyer with Robbins Geller, represents plaintiff Ebanks et. Al., Questioned the unique crypto expertise of the Roche firm. “He says that one of his crypto cases in Florida gives him more expertise than my two crypto cases – which were class actions.”

Who goes to sue Teether?
More important, perhaps, Cochran criticized the class sizes proposed by other law firms. “Roche defined it as a crypto owned in the last six years. It is much more comprehensive Bitcoin and bitcoin are close to my definition of futures class. Not all cryptos should be included. “He must have been taking money from real victims and giving it to others.

As can be gathered, there were several attorneys in attendance for the oral argument: 12 attorneys represented four indictments, while the defense team only sent three attorneys to conduct the inspection – one with space at a premium, several attorneys. Had to take seats in the gypsy box. As the session concluded, Judge Phila stated, “I expected to decide the motion today, but you made any decision very difficult.” She promised a decision on Thursday at 4 pm EST.

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Caitlin Long Launched the first crypto-native bank in India.

Kaitlyn Long, a former Wall Street executive who helped enact 13 blockchain-enabled laws, is taking advantage of the progressive Wyoming legislature to establish the first crypto-native bank in the US, the bank’s name is Avanti, meaning “ahead”. Italian.

Long made this announcement in a series of 29 tweets before today. He believes that “an important part of the infrastructure of the American market is missing – a regulated bank that can act as a bridge to the Federal Reserve for payment and [proposal] detention for BIG institutional funds.”

1 / INTRODUCING AVANTI Bank, a new US # bank serving the #digitalasset industry, is offering new products and is not currently available in USD mkts with w / tech partner @Blockstream. # Wyoming based. We are preparing a long process of charter application and aim to open in early 2021. @AvtiBT

Long-time thanks to Wyoming Governor Mark Gordon for making this possible, as the Avanti Special Purpose Depository Institution takes advantage of the law “which is the optimal regulatory-compliance structure in the US to provide financial services around crypto.”

Cointegraph reached out to Caitlin Long for a comment, but did not receive an immediate response. This article will be updated if we hear back.

Strict regulation
However, Long notes that this special-purpose depository law has stricter regulatory requirements. According to this law, all deposits – in the case of Avanti, crypto deposits – must be 100% reserved. Avanti will not be allowed to use the deposit for any of its own financial operations – a practice known as “redistribution”. Strict know that your customer standard should apply. In a tweet warning Long that he should not think about trying to use Avanti for illegal / nefarious designs.

Weird bedflow
Long said he has had many lengthy conversations with Adam Back, the founder and founder of Blockstream and an early contributor to bitcoin, before starting Avanti. He believes that Blockstream “BIG is an ideal partner to serve institutional investors who need regulated banks to deliver services around bitcoin in USD banks.”

However, she says that Avanti will remain “protocol neutral” and will welcome all cryptocurrencies demanded by customers. According to Long, we can also expect to see:

“STRED BEDFELLOWS because it will draw the best from the crypto and traditional worlds. I have deep connections in both worlds + and in the solid valleys of NYC I am just as comfortable, as in the homes of Wyoming.

Long is expected to open its doors to Avanti in early 2021. If the long-term is true, it can flow significant amounts of new liquidity into the market.

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Bitmain’s Entminer E3 will reportedly stop Ethereum mining in 1 month:

While making changes to the Ethereum Network Consensus Proof (PoS)Preparing to start, some mining equipment may soon stop supporting ETH mining.

Bitcoin’s Entminer E3, once the “world’s most powerful” hardware for ether (ETH) mining, will reportedly stop Ethereum mining in April 2020, according to a February 24 report by altcoin mining pool 2Miners.

Users began reporting Sixfold Hasht drop on Entminer E3 Mining Rigs on ETC Pool last week
2Miners revealed the news after their team requested Bitmain to comment on recent issues with the Ethereumer E3 performance, including Ethereum Classic (ETC) – an open-sour blockchain platform that was part of the DAO collapse. Later in 2016, Ethereum was outfitted with a hard fork.

On February 21, 2Miners began receiving the first report about a significant drop in Antminer E3 mining leak performance at the ETC pool. According to 2Miners, some users reported a six-fold hasht drop on the Antminer E3 – as low as 30 MH / s from a hashrate of 180 MH / s announced by the factory.

Bitman reportedly confirmed that the issue was due to DAG development
After internal investigation, 2Miners managed to find that all global ETC pools were reported to have a similar decline in hashrat. At the same time, Antinier E3 was still doing well on the Ethereum pool, 2Miners said. The team immediately suggested that the issue could be combined with the Directed Acyclic Graph (DAG) – a file that every new group of 30,000 blocks known as the mining era.

When mining Ethereum, each GPU requires a large file called DAG, 2Miners wide, at the beginning of the mining process. As DAG files grow every 30,000 blocks, or in the mining era, memory capacity has clearly reached its limit.

Following a request from the Bitmain Helpdesk, 2Miners were allegedly able to confirm that the development of DAG files limited the use of Entminer E3 for mining ETC. According to Bitman, Entminer E3, which is an ASIC miner, still includes a 4GB video card for mining, while the DAG file is approaching the threshold.

Bitman reportedly said:

“[…] Antminer E3 is a 4GB video card. E3 belongs to the ETH algorithm, and DDR capacity is up to the upper limit, so E3 will not be able to continue mining. E3 can only mean mine until January 2020 Yes, then I will not do. “

Current DAG size for ETH, ETC and extension.
Current DAG size for ETH, ETC and extension.

According to 2Miners calculations, Antminer E3 should phase out Ethereum Mining around April 8, 2020. According to the mining pool, the mining period of the Ethereum Classic is 328, while for Ethereum it is still 318. According to the DAG Size Calculator data, the DAG size for Ethereum is 3.48 GB, while for Ethereum Classic is 3.56 GB at a press time.

Released by Chinese mining giant Bitmain in April 2018, Entminer E3 was seen as “the world’s most powerful and efficient Etash ASIC miner.” As previously stated, Etash is a proof-of-work (PoW) hashing algorithm used by Ethereum and a variety of other Altocops such as ETC. The release of Anterior E3 came in the midst of the Ethereum community, suggesting a hard fork in the ETH protocol likely to invalidate ETH ASIC.

Since the Ethereum blockchain is expected to move from its current PoW consensus algorithm to PoS soon, the block validation function is likely to be passed on from miners to particular network verifiers. In an interview with Contechlegraph on 19 February, Ethereum co-founder Vitalik Butirin stated that the first phase of Ethereum 2.0 would be released later in 2020.

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