Korea Prepaid Card Invests in Blockchain-As-A-Service Company Bezant – via Coindesk
Korea Prepaid Card has made a major investment in Singapore-based Bezant, becoming the blockchain developer’s second largest shareholder. The news comes from an announcement on Bezant’s website. The terms of the deal were not disclosed and the exact split is being kept confidential by agreement between the two companies, according to the the release. Since April 2019, Bezant has been offering Blockchain-as-a-Service (BaaS) using Hyperledger Fabric technology. It also has a coin of its own, the BZNT, ranked about number 320 in terms of capitalization at about $8 million. In 2018, Bezant achieved the fastest-growing ICO in Asia, selling out available tokens in less than an hour.
Korea Prepaid Card Invests in Blockchain-As-A-Service Company Bezant – via Coindesk
Social Media Is Pushing Blockchain Developers Out – via Cryptodaily
Overall, social media has helped cryptocurrency and blockchain technology grow. Social networks such as Facebook and Twitter allow for open, honest and clear discussion about cryptocurrencies and also give users a platform through which they can learn from each other and collaborate. As a result, social media is generally leading a charge for the mainstream adoption of cryptocurrency thanks to it’s liberal and open nature.
Chinese Selling Bitcoin [BTC] at a Discount, Is the ‘Safe Haven’ Narrative a Misconception? – via Coingape
The relatively positive perception change from China on Bitcoin came as positive news last month. The Chinese legal system recognized Bitcoin as a virtual property and then the Central Bank issue an info-graphic about it. Moreover, the devaluation of the Chinese currency is continually affected the purchasing power of citizens. However, the narrative of Bitcoin as a safe haven still seems absent from the Country.
Stick To Sports, Mark Cuban: You Clearly Don’t Understand Bitcoin – via Cryptobriefing
Billionaires are always good for a spectacle. Elon Musk tweets a line about his favourite currency, and Dogecoin moons; when Mike Novogratz or Warren Buffett think aloud, the market holds its breath. Now another of the gilded breed is offering an unqualified opinion. Mark Cuban, who made billions during the dotcom era, said in an interview last week with a gold news site that he couldn’t see much separating the yellow metal from Bitcoin (BTC).
CEO of Dash Core Group discusses SEC’s ‘no-action letter’ and PrivateTransaction development – via AMBCRYPTO
CEO of Dash Core Group discusses SEC’s ‘no-action letter’ and PrivateTransaction development. 2019 has witnessed a series of announcements from the Dash Core Group community. DCG first revealed that they were planning a testnet release in December for Dash Platform, also termed as Evolution. It was indicated that project Evolution would allow developers to release their own devnet and also register independent test identities with the Dash Platform Naming Service.
Exit Scams Swindled $3.1 Billion From Crypto Investors in 2019: Report – via Coindesk
Cryptocurrency crime made good money last quarter, although less than in the first quarter of 2019. According to an initial release of CipherTrace’s Q2 2019 Cryptocurrency Anti-Money Laundering Report to CoinDesk, aggregate crypto losses reached $4.3 billion this year. Hacking thefts amounted to $125 million, adding to a 2019 total of $227 million. Excluding the QuadrigaCX hacking of $195 million, hackers stole $161 million in Q1. Given that CipherTrace’s price estimations are set at the time of initial reporting, current valuations would be much higher.
SEC Delays Decisions on 3 Bitcoin ETF Proposals – via Coindesk
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday. The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
Over 18000 BTC worth over $200 million moved – via AMBCRYPTO
It has been an interesting past week for Bitcoin as the price surged past $12,000 mark but at press time, it was hovering again in the lower range of $11,000 after witnessing a 6 percent fall on 10 August. The volatility of BTC’s price had a noticeable effect on other assets but Bitcoin’s arbitrary movement had the market confused whether these were bullish or bearish traits.
Nearly $500M Locked In DeFi Smart Contracts – via Cryptobriefing
Ethereum-based lending continue to dominate the nascent sector of decentralized finance (DeFi). Nearly half a billion dollars’ worth of assets are locked up in DeFi smart contracts, with stablecoin and CDP provider MakerDAO (DAI) remaining the clear market leader. According to data from Defipulse, decentralized finance now accounts for $475M in total value, up from nearly zero two years ago. After rapid growth, that figure has fallen somewhat after reaching an all-time high of $683M in late June.
Crypto Analyst: Look For One Simple Sign Before Alt Season Has Officially Begun – via NEWSBTC
Throughout 2019, and even during the 2018 bear market, the promise and allure of an “alt season” have kept crypto traders buying each dip in the altcoin market, meanwhile, Bitcoin and its parabolic rally have only decimated the alternative crypto asset category further through growing BTC dominance. The tides have started to turn and Bitcoin dominance has begun to reverse. As altcoins bounce strongly and give hope that the bottom is in, one crypto analyst warns that one simple signal must occur before any crypto investors should consider that an “alt season” has begun.
Bitcoin Price Reaches More Than $12,300 in Argentina as Peso Tumbles 30 Percent – via U.TODAY
On Aug. 12, Argentina’s peso tumbled more than 30 percent after its incumbent president President Mauricio Macri lost the primaries by a huge margin. The center-right politician was defeated by his left-wing rival Alberto Fernández. Bitcoin bull Anthomy Pompliano didn’t waste any time to predict that Argentina could be the first country to face a currency crisis during the looming global recession.
Ripple’s B2B strategy is helping people build new business, says Ripple’s Audience Marketing Director – via AMBCRYPTO
Ripple is synonymous to ‘Tsunami’ when it comes to the cryptocurrency ecosystem. Although most crypto businesses have made headlines for duping investors, the “frictionless payments” pioneer has taken crypto adoption to the next level. To sum up the current state of affairs, Shanna Leonard, Sr. Director of Audience Marketing at Ripple said in a conference, “Ripple is not just selling a technology project to financial institutions. We are working with regulators in every country around the world to educate, influence and provide the needed direction.”
Will Security Token Offerings Have their Breakthrough Moment? – via beincrypto
Tokenized securities were set to be the next evolution for digital currencies, though still it seems like the security token offering (STO) hype is deflating. Throughout 2018, as the bear market ensued for cryptocurrencies, including ICO tokens, the attention shifted towards security and asset tokenization – the process of digitizing real-world assets. The tokenization process promises to bring more liquidity and overall improve accessibility for investors to assets that otherwise would be off-limits.
Historical Data Shows Bitcoin Price Correction Could Last 5 More Months – via NEWSBTC
While crypto investors and traders are ready for the next bull run to fully commence, Bitcoin price has once again been rejected from highs above $12,000 and is potentially looking at more downside in the coming days. This is all normal, according to historic Bitcoin price charts, according to one crypto analyst, who says that past early bull market corrections have lasted roughly 200 days. If history repeats itself, which it often does, there could be another 5 months left for the current crypto market correction.
Tron’s weekly report reveals positive updates as it records highest surge this week – via AMBCRYPTO
Justin Sun-led Tron Foundation is almost always in the news for its constant developments in the ecosystem. Most recently the much-awaited Sun Network which claims to solve scalability issues went live on the Tron network. Every week, the foundation releases a report in 15 languages citing the several advancements in the Tron ecosystem.
IOST-Backed Emogi Network Launches With Two Established DApps – via Cryptobriefing
Today Emogi announced the launch of a network for engagement-based micropayments and staking. The IOST-incubated ecosystem features two already-existing apps: Berminal, a cryptocurrency news aggregator, and Bermi, a video sharing social media similar to TikTok.
Bitcoin Sees Constant Demands In Hong Kong As Protesters Seek Anonymity – via Coingape
The demand for bitcoin in Hong Kong has soared higher and higher by the weeks as protesters seek the anonymity of transactions and privacy from law enforcers in the country. At the moment, the price of bitcoin on popular Hong Kong crypto exchange, TideBit is about $11,477.34, about $80 higher than figures derived from coin market cap and most other crypto exchanges outside Hong Kong. As a matter of fact, the figure had been around $160 within the last week.
Crypto Code Commits Remain Near All-Time Highs, Despite Price Declines – via Coindesk
The least committed contributors were the first to leave as cryptocurrency market caps went south. That’s the main finding from Electric Capital’s second “Developer Report,” which was published Monday. The report analyzes code activity in all the open-source repositories in crypto and follows the venture capital firm’s first such report from March.
Three UK Men Busted Over Bitcoin-Based Drug Ring – via Coindesk
A bitcoin-based drug gang landed a cumulative 20 plus years in prison following a UK police bust. Colin McCabe, Toby Woods, and Robert Price sold over 1 million pounds worth of Class A drugs including cocaine, ketamine, and cannabis. The trio sold their products on the dark web and shipped as far as Australia, according to an August 9 BBC report. The FBI first tipped off UK police of the self-proclaimed ‘Project4’ drug ring.
Goldman Sachs Gives Investors a Rare Signal to Buy Bitcoin – via beincrypto
Major investment bank Goldman Sachs has just told investors that they should use the current dip to their advantage and buy Bitcoin. The firm is placing a short term target at $13,971.
Colu May Buy Back ICO Tokens in Pivot Away From Blockchain – via Coindesk
Blockchain startup Colu is eliminating blockchain from its business plan. Citing regulatory uncertainty, technical challenges and growth in non-blockchain related opportunities the company is concluding its blockchain project, the Colu Local Network (CLN), according to a statement. As part of the scale down, the company will repurchase approximately 54 million tokens sold during its $17 million ICO from those that participated in the crowd-sale.
New Zealand Allows Workers To Receive Their Salary In Stablecoins – via UsetheBitcoin
New Zealand becomes one of the first countries to allow workers to receive their salary in cryptocurrencies. The information was released by the country’s tax regulator the New Zealand Inland Revenue Department. The new ruling is expected to be applied as soon as September 1st.
Trading Vet Jim Wyckoff Is Not Bearish on Bitcoin Despite Recent Price Drop – via U.TODAY
The Bitcoin price fell sharply below the $11,200 level on Aug. 10, which indicated a mounting selling pressure. Still, trading vet Jim Wyckoff, who has been involved in markets for over 30 years, believes that this is not a bearish sign for the crypto king.
There is No Place for Binance IEOs on Binance US Yet – via CryptoNews
While Binance US, the American branch of major cryptocurrency exchange Binance, included four stablecoins among its 30 potential candidates to be listed on this upcoming platform, no Binance IEOs (initial exchange offerings) are on the list. Hyped projects such as BitTorrent (47th by market capitalization), Fetch.AI (207), Celer (180) and Matic Network (127), that raised capital on the Binance Launchpad platform, have been left outside of the list alongside with many other coins, including Tron (13th by market capitalization).
Bitcoin Cash Labeled a ‘Wounded Animal’ But BCH Could Still Surge 150% – via NEWSBTC
There has only been one mover and shaker in the world of cryptocurrencies over the past month or so. All eyes have been on Bitcoin while its smaller siblings have been eroded as altcoins remain in deep hibernation.
Major South Korean Holding Company Will Use Ripple Tech for Donations Platform – via beincrypto
SK C&C, the holding company of South Korea’s third conglomerate the SK Group, plans to develop a donation platform on Ripple. A stablecoin will also be issued linked at a 1:1 ratio with the Korean won along with a utility token.
IBM, Tata Become First Big Techs to Back Hedera Blockchain – via Coindesk
IBM and Indian telecom company Tata Communications have joined the governance council of Hedera Hashgraph, a blockchain-like public network for enterprises. Now, eight of the 39 available spots for governing council members are filled, the network announced Monday. “Our goal is to create the most decentralized governing body of any of the major public platforms,” Mance Harmon, CEO of Hedera, told Coindesk. “We’re covering multiple industries … and we’re wanting global coverage.”
Coinbase UK Ditches Zcash, Founder Insists Coin is Compliant – via CryptoNews
The UK-based branch of popular American crypto exchange Coinbase is de-listing Zcash (ZEC) from its trading platform, an email sent out to clients late last week revealed. According to the email, the privacy-focused cryptocurrency will be removed effective August 26, 2019. All clients are asked to either sell or convert their ZEC holding to another supported asset by that date. Failure to do so will lead to any remaining ZEC being automatically liquidated to British Pounds, the update said.
Kakao Teases 2019 Launch of Crypto Wallet, Dapp Partners – via Coindesk
Messaging app giant Kakao – which launched its own blockchain in June – has said it plans to release a cryptocurrency wallet dubbed “Klip” later this year. The firm posted a teaser page to the “More” tab in its KakaoTalk app on Aug. 12, according to a report from CoinDesk Korea, offering a few details of the planned product.
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