Bitcoin (BTC) has been in a constant downtrend for the last few weeks. The price crashed especially hard during the last few days. The price did break below $ 6,000, but contrary to expectations, the price found support at what was previously a downtrend resistance as can be seen on the BTC/USD daily chart above. The fall slowed down after Bitcoin (BTC) breached $ 6,000 but Bitcoin (BTC) was still expected to test the $ 5,800 support, which it didn’t.
The Gabrotech company is developing a platform that will allow making different loyalty rewards a digital asset. Available either for conversion into cryptocurrencies or fiat currencies, or for exchanging with other reward points. The release of the platform is planned for December. For further improvement, the company is running an Initial Coin Offering (ICO) until Sept. 1, with a bonus of up to 20 percent.
129-year old Northern Trust has long been a stalwart in the financial services world. Now, the company is turning its eyes to the future and is working on projects that incorporate blockchain and cryptocurrency.
Headquartered in Chicago Illinois, Northern Trust has been working with different clients, including corporations and institutional investors, for more than a century. Currently, Northern Trust has offices across the United States and in 23 different countries. As of June 30, assets under management totaled more than $ 1 trillion dollars.
Now the financial services entity is opening itself up to blockchain and cryptocurrencies by involving the nascent technology across a variety of new projects.
A recently conducted study has reportedly found that 75% of millennials would be more likely to date someone who possesses knowledge about cryptocurrencies. The survey comes amid apparently increasing fascination with millenials’ views regarding cryptocurrencies.
Also Read: Kim Kardashian Receives Her First Bitcoin
Surveys Probe Millennials’ Views on Crypto
An increasing number of companies have published surveys probing the views held by millennials regarding virtual currencies.
A recent study claims to have found that “Over 75% of millennials [are] more likely to date someone knowledgeable about cryptocurrencies.” Despite the find, the survey also revealed that 12% of respondents would “rather date a non-violent felon” than “someone who has all their savings in cryptocurrency.”
Cryptocurrency Dash has announced a partnership with Tradecore, a software company that enables brokerages to process hundreds of millions of dollars in payments and streamline on-boarding, support and marketing services. Through the partnership, financial service providers and businesses operating on capital markets will be able to send, receive and hold Dash and other major cryptocurrencies such as bitcoin and litecoin.
Tradecore provides brokerages and financial service providers with tools to grow, including client on-boarding, identity verification, proactive customer support, advanced analytical tools, and marketing automation. Due to customer demand, brokerages need to add support for digital assets, in addition to more traditionally traded assets.
Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea.
Per the report, Binance CEO Changpeng Zhao hinted at his company’s expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.
While South Korea is presumed to be the third-largest crypto market after the U.S. and Japan, it hasn’t been a smooth ride for the cryptocurrency exchanges operating there. Bithumb and Coinrail were hacked earlier this year, while tax authorities have raided Coinone on tax evasion allegations.
Project PAI, Softbank has made its second move, following its previous investment in a blockchain game public chain project.
Softbank has recently announced its’ partnership with Ludos. Prior to this merger, top-tier crypto-investment firms including DU Capital, BA Capital and Collinstar Capital have participated in the Angel round. With Softbank, Ludos’ investment partners have now grown stronger and this serves as a recognition for Ludos’ leading position in terms of public gaming chain development. Ludos aims to bring in players who can transform the gaming experience and provide game developers with an integrated game development environment. Furthermore, this also presents investors the chance to invest in an optimised gaming experience.
One of South Korea’s largest cryptocurrency exchanges, Bithumb, is expanding into Japan and Thailand. The exchange is working on obtaining regulatory approval from the financial regulators of both countries. The new locations are part of the exchange’s global expansion plan.
Expanding into Thailand
Bithumb is currently working on obtaining regulatory approval from the Thai Securities and Exchange Commission (SEC), local media reported Friday. The exchange is the second largest in South Korea at the time of this writing, with a 24-hour trading volume of about $ 358 million, behind only the Kakao-backed Upbit with a $ 582 million trading volume during the same time period.
Youtube has been dragged into a class action lawsuit against Bitconnect for failure to protect its users from being exposed to the scam’s videos. This case might be used by Google and others to justify their bans on crypto ads, arguing that their algorithms can not distinguish between legitimate projects and frauds.
Switzerland’s principal stock exchange has announced that it is building a platform for the trading, settlement, and custody of digital assets. This announcement follows reports of government officials working on giving crypto businesses access to banking services.
SIX Launching Digital Exchange
SIX, the operator of Switzerland’s principal stock exchange, SIX Swiss Exchange, announced Friday that it “is building a fully integrated trading, settlement and custody infrastructure for digital assets.”
The Maltese Parliament has passed three bills into law that establish a regulatory framework for the country’s blockchain sector, Malta Today reports.
Just last week, the Parliament “unanimously voted” to approve these bills in its second reading. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
Silvio Schembri, the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, shared an update on Twitter about the new development, which he believes will make Malta “the first world jurisdiction to provide legal certainty to this space.”
Hong Kong-based GSR Capital is investing $ 160 million in Overstock’s cryptocurrency venture, the exchange tZERO. The news immediately hiked Overstock’s share price by 12.5 .percent.
Through its tZERO exchange, a majority-owned subsidiary, Overstock plans to bring “efficiency and transparency” to capital markets. tZERO’s recent joint venture agreement with BOX digital markets will create what Overstock hopes is the first regulated security token exchange.
Letter of Intent
tZERO is currently running a Security Token Offering (STO) to fund the project. GSR Capital’s planned investment, in the form of a letter of intent, to purchase $ 160 million worth of tZERO tokens, has led to tZERO extending the private funding round of its STO to August 6th, 2018. tZERO tokens are currently available in the private sale at $ 10.00 per token.
The Internal Revenue Service (IRS) is stepping up its investigations into cryptocurrency-related tax fraud and unreported taxable gains. Clearer laws and guidelines are expected in the near future and could open the door to litigation and penalties against those who fail to cooperate.
‘I Think The Jury Is Still Out’
Reporting and paying taxes on cryptocurrencies is a topic of confusion among investors and lawmakers alike, while the Internal Revenue Service has been collecting more and more data from cryptocurrency exchanges over the course of this year. In January, exchange giant Coinbase lost a court case against the IRS, allowing the bureau access to the financial documents of around 13,000 of the popular exchange’s customers.
Following the alleged hacks of South Korean crypto exchanges, the government has formally launched an investigation into the cause of the hacks. The authorities will also perform security checks on all crypto exchanges’ systems.
The South Korean government announced on Wednesday, June 20, that it has formally launched an investigation into the cause of the alleged security breaches at two crypto exchanges, Bithumb and Coinrail. At the time of this writing, Bithumb is the country’s second-largest crypto exchange by volume, behind only the Kakao Corp-backed Upbit, according to Coinmarketcap. Coinrail is the country’s seventh largest crypto exchange.
Various European nations are showing increasing interest in cryptocurrency. This is especially apparent where altcoin mining is concerned. It is a pretty interesting trend, especially when considering that Kosovo is getting involved. It’s a positive turn of events for this plagued European country, although it remains to be seen how things will evolve.
Kosovo and Bitcoin Mining
Similar to some other Eastern European countries, Kosovo is home to a growing job shortage. While such a trend isn’t exactly surprising in light of the 2008 financial crisis, it is evident this issue will need to be addressed. That is easier said than done where Eastern Europe is concerned. Even so, it seems some people are definitely taking the right steps in this regard.
The rush to combine the awesome power of blockchain technology with artificial intelligence (AI) continues to gain momentum, disrupting every industry. For example, DeepBrain Chain combines AI with Bitcoin’s blockchain technology to help AI enterprises save up to 70 percent of their computing power costs. In parallel, innovative financial enterprises, such as TradeConnect, are using machine learning (ML) and blockchain to better understand the financial markets.
Servers Optimized for AI Computing and Cryptocurrency Mining
DeepBrain Chain announced pre-order of its DBC AIM machines on May 18, 2018. After just a couple of weeks, on June 1, DeepBrain Chain claimed that it had already received reservations worth over USD 100 million.
Throughout our history, some of the world’s greatest geniuses like Sir Isaac Newton have tried to turn base metals into gold – only to fail. Or, ancient civilizations like the Egyptians ingested gold for longevity. And, now we have Virtuse Exchange turning gold into the Blockchain. Let’s face it, we have an obsession with gold.
Virtuse Exchange enables investors from around the world to trade a broad range of crypto assets along with thousands of other traditional assets. In short, they combine the best features of traditional investment and digital assets.
TALLINN, ESTONIA (May 21, 2018) – A new European company has found a way to unleash the true potential of digital assets. Depository Network (DEPO) has developed independent loan collateral architecture for the cryptocurrency age.
DEPO founders began by asking why assets have changed but loan collateral has not. Despite cryptocurrency being a strong asset that continues to grow, lenders have still not found a way to accept it as collateral. Until now.
Historically, Facebook has done a great job of staying on the cusp of technological advancement through investing heavily in new technologies and smart acquisitions. From WhatsApp to Oculus, the company has used its bulging bank balances to stay one step ahead of consumer trends by snapping up tech and talent. And, after last week’s internal announcement that Facebook would be investing heavily in a new blockchain technology research wing, headed by David Marcus, one of the company’s top execs, leader of its Messenger platform and a former CEO of PayPal, it is quite obvious which new emerging technology the company has its sights set on now.
IBM has partnered with environmental fintech startup Veridium Labs to turn carbon credits — tradable instruments that provide an economic incentive to those who want to reduce their greenhouse gas emissions — into blockchain-based tokens.
In a joint press release, the two companies announced a collaboration to “transform the carbon credit market using IBM blockchain technology with the goal of making it easier for companies to offset their environmental footprints.”