Dec 11 cryptocurrency blockchain technology news roundup
Dec 11 cryptocurrency blockchain technology news roundup
As we get near the end of the year, BlockcoinTodayis going to provide a series of quick cryptocurrency and blockchain news roundups. Theyre designed to give you a fast, high level, curated look at the latest news and emerging trends for 2019.
Browse, scan, and pick a few news highlights to read from the most credible industry sources. Let us know how you like the news roundups and whether youd like us to continue them in the new year.
t seems like every asset bubble has a famous anecdote of someone claiming, right at the top, that a crash is impossible. In the stock-market bubble leading up to the Great Depression, it was economist Irving Fisher, who declared in the New York Times that stocks have reached what looks like a permanently high plateau a few days before a collapse that would see stocks lose 89 percent of their value. In 2007 and 2008, many optimistic pronouncements by current National Economic Council Director Larry Kudlow turned out to be disastrously wrong.
No one on Wall Street embraced cryptocurrencies with as much gusto as legendary trader Mike Novogratz. The former hedge fund manager and Goldman Sachs Group Inc. partner became an unlikely hero of the crypto movement and a billionaire on paper. Emboldened, Novogratz announced he was starting a cryptocurrency merchant bank, Galaxy Digital Holdings Ltd. galaxy has since reported $136 million in trading losses. Novogratz is undeterred.
South Korea-based crypto exchange Coinone has officially launched Cross a remittance app utilizing Ripples xCurrent product to facilitate speedy cross-border payments. Ripple announced Monday that Coinones payments subsidiary, Coinone Transfer, is now formally releasing the app which has been under development for months to the public. It aims to provide unbanked or underbanked individuals the ability to transfer funds from South Korea to Thailand or the Philippines at low cost.
Two US congressmen introduced bipartisan legislation designed to prevent cryptocurrency price manipulation and position the United States as a leader in the crypto industry. Democrat Rep. Darren Soto of Florida and Republican Rep. Ted Budd of North Carolina unveiled the following bills: Virtual Currency Consumer Protection Act and the Virtual Currency Market and Regulatory Competitiveness Act.
Ran Neuner, a high profile South African promoter of cryptocurrencies and associated tech and the host of the very popular Crypto Trader Show onwas accused yesterday on Twitter of failing to disclose that he was an investor in a fraudulent blockchain project he promoted on Twitter. Neuners accuser, in this case, is investigative reporter Larry Cermak, a former writer/researcher at the
The market valuation of ERC20 tokens and low volume crypto have started to fall below the $100 million mark amidst an intense market sell-off and increasing regulatory pressure from the US Securities and Exchange Commission (SEC). VeChain, Bytecoin, Bitcoin Diamond, ICON, and Qtum have fallen the most against the U.S. dollar in the past 12 months, dropping by 99 percent within a year.
The Gibraltar Blockchain Exchange (GBX) announced that it is offering insurance on all of the assets listed on its platform, in an official GBX blog post on Dec 10. The exchange reports that it will use local firm Callaghan Insurance Brokers to insure its assets, specifying that all assets in the custody of the GBX are fully insured, including both hot and cold wallets. The policy also reportedly covers all forms of professional indemnity.
Cryptocurrency trading platform Gemini founders Tyler and Cameron Winklevoss have launched a mobile crypto trading app together with a new investment vehicle, according to an official blog post published Dec. 11. As the post outlines, the new app allows users to buy and sell crypto and monitor real-time and historical crypto market prices for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and ZCash. Users can also see the total value of their current portfolio and set price and percentage value change alerts for their chosen coins.
With the price of bitcoin down 80% from its peak a year ago and the larger cryptocurrency market in systemic collapse, has peak crypto come and gone? Perhaps, but dont expect to see true believers lining up to have their cryptocurrency tattoos removed just yet. At a recent conference I attended, the overwhelming sentiment was that market capitalization of cryptocurrencies could explode over the next five years, rising to $5-10 trillion (4-8 trillion).
Some shocking details have been revealed that point to Blockchain Terminal (BCT) as an alleged ICO scam. In the deep report, the ICO claimed to be led by Shaun MacDonald while the actual person running it was Boaz Manor an ex-convict who served time for running a fraudulent $800 million hedge fund. The BCT project had an all-star team and was liquid enough to give Bloomberg serious competition. However, it turns out that the popular project could actually have been a scam all along
In its newest report, the EU Blockchain Forum (EUBF) noted that government bodies need to home in on two aspects of the blockchain to help the technology fully actualize: That is, the institutions need to have digital national currencies as well as systems for digital identity, The Next Web reported. The organization said in its report, digital identity is the fundamental building block and a key area for governments to focus on another important building block is having digital versions of national currencies on the blockchain.
US technology giant IBM announced on Tuesday its latest blockchain initiative that aims to expand the companys customer base outside of its traditional PC hardware and software markets. The company teamed up with Nigerias agricultural startup Hello Tractor with the goal to test a distributed ledger technology (DLT)-driven crop management system, IBM said in a press release. The US firm would develop a DLT-driven application, called Digital Wallet, that would help sub-Saharan farmers reduce the higher percent of post-harvest losses.
Despite the furor surrounding blockchain technology over the past few years, it would appear that not everyone is climbing aboard the hype train just yet. Granted, weve seen some significant interest from some of finances major players, with the likes of Mastercard and IBM heralding the technology as the answer to being able to move money around the globe with fewer issues and faster, but not everyone seems sold on the idea.
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