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By Romel Rodriguez — November 15, 2018

What could have caused this major retracement? What made more than 30 Billion USD vacate the cryptomarket? Here are some possibilities.

It has been a hectic few days for crypto enthusiasts with the market taking a complete downturn. Across the board, altcoins are down more than 30% and Bitcoin is down 15%. Many people across crypto-twitter did not see this coming. Even the most successful influencers in the space were calling long contracts on Bitmex. So what could have caused this major retracement? What made more than 30 Billion USD vacate the global market cap? Here are some possibilities.

Keep reading….


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By Chris Perrotta — November 8, 2018

In a press release on November 8th, the SEC has charged EtherDelta founder, Zachary Coburn, with operating an unregistered exchange. Without admitting or denying the SEC’s findings, he has agreed to pay $300,000 in disgorgement, $13,000 in prejudgment interest, and another $75,000 penalty ($388,000 in total). The SEC chose not to impose a greater penalty to Coburn due to cooperation.

According to the SEC, EtherDelta, a popular “decentralized” exchange, executed about 3.6 million orders for ERC-20 tokens over the last 18 months (included are tokens deemed securities by the SEC). Most of the 3.6 million trades were placed after the SEC issued their 2017 DAO report, stating “that certain digital assets would be subject to the SEC’s requirement that exchanges register or operate pursuant to an exemption.” Basically, EtherDelta offered securities on their exchange and failed to register as an exchange or apply for an exemption.

“EtherDelta had both the user interface and underlying functionality of an online national securities exchange and was required to register with the SEC or qualify for an exemption.” -Stephanie Avakian, Co-Director of the SEC’s Enforcement…


By Sebastian Ifversen — October 31, 2018

Written with assistance from Chris Perrotta

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In the last ten years, we have seen the world’s first cryptocurrency go from being worth almost nothing, to peek at $20,000. This is the history of Bitcoin!

1982–1998

Bitcoin did not exist until 2008, however, its origins trace back to 1982 when computer scientist David Chaum proposed e-Cash, the idea of anonymous electronic money. Unfortunately, the project didn’t succeed and went bankrupt in the late 90s.

Again in 1998, Wei Dai released a paper describing his idea for ‘b-money’, and later the same year, Nick Szabo came out with a similar proposal called ‘Bit Gold’. Both ideas were very similar to the way bitcoin works.

2008

Bitcoin was introduced

On October 31, Satoshi Nakamoto published a paper describing an electronic cash system thus bitcoin was born. …


By Chris Perrotta — October 30, 2018

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In a tweet by the Venezuelan Economy Department, the controversial state issued cryptocurrency, the Petro, is now available to be purchased via fiat or crypto.

The coin can be bought from the coin’s official website or via one of the six exchanges available for trade. You can exchange your Chinese Yuan, Euros, and U.S. Dollars on the fiat side, Bitcoin, Litecoin, Ethereum, and Dash on the cryptocurrency side, for the controversial currency. The six exchanges where the coin is available are Bancar, Afx Trade, Cave Blockchain, Amberes Coin, Cryptia, and Criptolago, they have all been approved by the Venezuelan government. …


By Luc Lammers — October 30, 2018

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Good news from Coinbase today. The San Francisco-based cryptocurrency exchange announced that it closed a $300 million Series E funding round led by Tiger Global Management. Coinbase plans to use part of the funding to list hundreds of cryptocurrencies and lay the groundwork to support thousands in the future.

Coinbase, one of the largest crypto exchange based on daily volume, and probably the biggest name in the crypto ecosystem, now also ranks among the world’s most valuable tech startups following the conclusion of a new funding round.

In an announcement earlier today, the President and COO of Coinbase, Asiff Hirji, revealed the news that the firm had added an additional $300 Million of investment via another round of funding.

“We’re pleased to announce our latest funding round, led by Tiger Global Management. We plan to accelerate our global expansion and investments in the utility phase of crypto — always working to create a more open financial system for the world.” …


By Luc Lammers — October 29, 2018

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In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!

1. Circle CEO: Global Cryptocurrency Rules Are Needed

Jeremy Allaire, the CEO of the Goldman Sachs-backed cryptocurrency startup, Circle, spoke in an interview with Reuters about the importance of global cryptocurrency industry regulations.

Many industry experts and leaders believe that global regulation will be the next evolutionary step for the cryptocurrency markets. …


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By Zach Barrow-October 23, 2018

In Rural Kenya a Local Restaurant serves ‘Tasty Meat’ for Bitcoin and Dash, truly showing the pioneering spirit of Africa.

Beatrice Wambugu, a Kenyan restaurant owner considers herself a ‘cryptocurrency pioneer’ after introducing crypto payments to her restaurant in the rural town of Nyeri. Nyeri is more than 150km outside of the capital Nairobi, serving the Kenyan favourite of ‘Nyama Choma’ (goat meat barbecue).

Ms. Wambagu started trading Bitcoin over 2 years ago and gained enough money to buy a local hotel. She then converted it into ‘Betty’s Place’ the restaurant which she created. …


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Jeremy Allaire, Founder and Chief Executive Officer at Circle, mentioned in an interview with Reuters on Monday, that major economies should launch coordinated cryptocurrencies regulations.

Circle is one of the most well-funded blockchain start-ups, with investors including Goldman Sachs Group and Baidu. The fintech company operates its peer-to-peer payment network using blockchain, the technology that underpins bitcoin.

Jeremy Allaire said in the interview with Reuters:

“Ultimately there needs to be normalization at the G20 level of critical crypto-related regulatory matters.”

Last Friday, the Paris-based Financial Action Task Force (FATF) stated that jurisdictions worldwide will be required to license or regulate cryptocurrency exchanges and some firms providing encrypted wallets, to help stamp out the use of digital money for money laundering, terrorism financing or other crimes. …


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In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!

1. Goldman Sachs and Novogratz Betting on Crypto Custody

Goldman Sachs and Mike Novogratz have invested in the U.S. custody service BitGo. BitGo considers itself a leader in security, compliance, and custodial solutions for blockchain-based currencies. Of the $70 million raised, $15 million was raised by Goldman Sachs and Mike Novogratz. According to Mike Belshe, BitGo’s co-founder and CEO, many investors are “worried about their assets disappearing,” and in order for cryptocurrency to reach its full potential, “we’ve got to conquer that.”

Read more about BitGo here: https://altcoinbuzz.io/goldman-sachs-and-novogratz-betting-on-crypto-custody/

2. Bakkt CEO: Crypto Market Is Fragmented, ‘We’re About to See a Revolution’

Kelly Loeffer, Bakkt CEO, believes that we are “about to see a revolution in cryptocurrencies.” …


By Lesia Dubenko — October 18, 2018

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Goldman Sachs (GS), the American banking giant, together with its former partner Mike Novogratz from Galaxy Digital Ventures have invested in the U.S. crypto custody service BitGo, Bloomberg reports.

Bitgo, which describes itself as the leader in security, compliance, and custodial solutions for blockchain-based currencies, is a multi-currency platform. The company has raised a total of $70 million, out of which $15 million were contributed by GS and Michael Novogratz, the man who likes to predict. His latest forecast was that BTC will be trading at 9,000$ by end-year.

BitGo’s rationale is all about providing security to investors in case their digital assets vanish, which is, unfortunately, is often the case in the crypto world. Besides, U.S. regulators “require large money managers to entrust client assets to a so-called qualified custodian.” These include, for example, State Street Corp. and Bank of New York Mellon Corp. …

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Altcoin Buzz

Latest on Bitcoin, Cryptocurrencies, Blockchain Investments, ICOs and Digital Assets.

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