Ripple on Wednesday posted 9% gains soon after Swift announced a partnership with R3, a blockchain consortium. At 0800 UTC, the XRP/USD was trading at 0.2934 on Binance. As the market sentiment kicked in, the pair posted three consecutive hourly sessions in green, taking the value to as high as 0.3292. By 1300 UTC, Ripple had risen to 12.2%. In comparison, Bitcoin surged at a modest 1.29%, and Ethereum gained 2.65% against the US Dollar. Swift Brings the Bulls Brussel-based global banking giant Swift today announced that it would integrate R3’s trade finance platform with its own Global Payments Innovation solution
Indian Supreme Court Pushes Crypto Case Against RBI to End of February
The case against the crypto banking ban by the Reserve Bank of India (RBI) was unexpectedly heard at the country’s supreme court on Thursday. However, senior advocates for the parties were reportedly absent, so a new date has been set and the crypto case will be “top of the list” on that date.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Caught by Surprise
The Indian supreme court was scheduled to hear the petitions against the crypto banking ban imposed by the country’s central bank, the RBI, on Tuesday after repeatedly postponing it last year.
Lightning Network Dev. Warns Against Marketing Lightning as The Answer to High Bitcoin Fees
In a tweet, Lightning Network infrastructure lead Alex Bosworth wrote: “There’s a bit too much emphasis placed on the idea that LN is all about low fees. Fees on the network are charged at a market rate. We cannot control this market therefore we can’t guarantee low fees all the time. We can remove reasons
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Crypto Firms Speak out Against Critical McKinsey Report
Consulting giant McKinsey & Co recently published a report on the state of the blockchain industry, claiming that while crypto technology has potential, it has been unable to break away from the early “pioneer” phase with most use cases failing to take off. The Report: ‘Blockchain’s Occam Problem’ The report is not entirely critical, stating … Continued
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Shrinking IPO Market Stacking Deck Against Ordinary Investors: CFA Institute
Non-accredited investors are finding it challenging to access investment opportunities in public-traded companies, said Paul Smith. The President and CEO of CFA Institute, an association of investment management professionals, said that public market capital has been on a decline in the US and European markets. He explained that many new ventures decide to run initial
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Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding Crypto
Shall Law Firm, an American shareholder rights litigation firm, has announced the filing of a class action lawsuit against Nvidia with regards to statements pertaining to the company’s outlook regarding the effect that declining cryptocurrency prices could have on the performance of its shares.
Also Read: Bitcoin Whales and the Rise of Crypto-Fueled OTC Desks in 2018
Firm Files Class Action Against Nvidia
A Los Angeles-based law firm has announced the filing of a class action lawsuit accusing graphics card manufacturer, Nvidia, for “violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.”
‘Yahoo of Crypto:’ Bitcoin Economist Makes Case Against ‘Science Experiment’ Ethereum
Ethereum is at best a $ 13 billion “science experiment,” believes Tuur Demeester. The Austrian economist, known for his anti-Ethereum remarks, explained why he has been overly pessimistic about the blockchain project in a 50-pointer thread. A majority of these points referred to the Ethereum team’s earlier promises of improving the main chain’s scalability. Ethereum Can’t
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Judge: $1 Billion Bitcoin Lawsuit against Craig Wright Will Continue
A motion by the self-declared creator of Bitcoin and the chief scientist at blockchain firm nChain, Craig Wright, to have a multi-billion dollar lawsuit accusing him of stealing bitcoins belonging to an alleged business partner dismissed has been denied. Wright Loses Bid to Dismiss Lawsuit over Alleged Bitcoin Theft In a ruling delivered on Thursday
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Malaysia Files Criminal Charges Against Goldman Sachs
Following months of investigation into the 1MDB scandal in Malaysia, the country’s attorney general Tommy Thomas has filed criminal charges against Goldman Sachs International and two of its Asian subsidiaries alongside former Goldman Partner Tim Leissner, alleged scam mastermind Jho Low and former 1MDB counsel Jasmine Loo. The Wall Street Journal reports that Malaysian authorities earlier today
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Pantera Capital Braces for SEC Action Against 25 Percent of ICO Investments
Increasingly frequent action taken by the SEC against initial coin offerings is expected to lead to more cryptocurrency projects being forced to refund investors. Among those expected to be affected is the first U.S.-based cryptocurrency investment firm, Pantera Capital, with the company bracing to receive refunds on a quarter of its ICO investments.
Also Read: BTI Claims Only Two of Top 25 Crypto Exchanges Accurately Report Volume
Coinbase Bounce: 3 of 4 Ethereum Tokens Rally against Bitcoin on Day of Listing
Trading of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) — all ERC-20 tokens that run on the Ethereum network — today went live on Coinbase Pro, and most received a bump from their listing on the crypto exchange. CVC, LOOM, MANA, and DNT Listed on Coinbase In a post earlier today, Coinbase
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‘Illegal Financial Activity’: PBoC Deputy Governor Warns Against STOs in China
Security token offerings (STO) – essentially initial coin offerings which are backed by tangibles such as a company’s revenues, profits or assets – are now officially banned in China. This emerged after the People’s Bank of China (PBoC) deputy governor, Pan Gongsheng, warned those issuing STOs that they were violating the law. “The STO business
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Monumental: Federal Court Rules Case in Favor of Crypto ICO Against SEC
Last week, the U.S. federal court ruled a case between the U.S. Securities and Exchange Commission (SEC) and a crypto initial coin offering (ICO) project called Blockvest in favor of the ICO project. Marco Santori, the president and chief legal officer at Blockchain, said: “The SEC brought an enforcement action against a company called Blockvest,
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$5 Million Lawsuit Against Bitmain Filed in Northern California
A class-action lawsuit for over $ 5 million has been filed in northern California against Chinese mining giant Bitmain. The company is being accused of utilizing customers’ newly purchased machines to mine cryptocurrency at full power for its own benefit while customers were configuring their equipment.
Official court documents read:
Thai SEC Warns Against 14 Unauthorized Cryptocurrency Operators
Thailand’s Securities and Exchange Commission (SEC) has warned the public against 14 websites whose operators have been soliciting customers to buy and sell cryptocurrencies and related products. The regulator says these operators are not authorized to conduct crypto business in the country. Currently, only seven companies are temporarily approved for crypto operations.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Unlicensed Operators
The Thai SEC issued a warning on Friday against 14 websites whose operators have not been approved to conduct cryptocurrency business in Thailand.
Indian Police File Charges Against Masterminds of $60 Million Bitcoin Scam
Indian police in the city of Pune have charged Amit Bharadwaj along with three other individuals – Vivek Bharadwaj, Pankaj Adlakha and Hemant Bhope, involved in a multi-level marketing (MLM) crypto scam. It is alleged that Amit who is the central character of the trial collected about Rs 10 crore (about $ 1.42 million) from unsuspecting
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BitMEX CEO Denies Exchange Trades Against Customers
Arthur Hayes, the CEO of leveraged crypto exchange BitMEX, has come out to deny allegations that the exchange is trading against orders made by its customers. In the original blog post, an anonymous account named ‘Hasu’ laid out the argument against the Hong Kong-based exchange with three major accusations: “BitMEX trades against their customers” “BitMEX weaponizes […]
SludgeFeed
Activists Use Crypto to Protect ‘Rap Against Dictatorship’ from Government Censorship
Anti-government activists in Thailand are using crypto tech to help prevent authorities from censoring “Rap Against Dictatorship,” a controversial music video that has gone viral in the country. The video, which excoriates Thai government and military authorities on a number of social issues, has achieved runaway success in Thailand, amassing more than 28 million views
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Colorado Takes Action Against Four More ICOs – 12 in Total
The Division of Securities of the U.S. state of Colorado has issued four new cease-and-desist orders to stop as many companies from promoting their tokens to residents of the state. So far, action has been taken against a total of 12 initial coin offerings by the state’s securities commissioner.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Four New Orders
Colorado Securities Commissioner Gerald Rome on Thursday signed four orders “directing the cessation of unregistered securities in the state of Colorado,” the state’s Division of Securities announced. So far, the division has taken action against a total of 12 initial coin offerings (ICOs), the announcement details.
Bitmain Releases Antminer S15: How it Stacks Up Against Competitors
Bitmain has released (and already sold out of) its Antminer S15 model traditional ASIC Bitcoin miner. At a price of $ 1,475 per unit and a per-customer limit of two, it is comparably one of the better bargains as mining hardware goes. It clocks up to 23 terahash per second, meaning that 3-4 units would be
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