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Articles related to "crypto-coins-news"

Cryptocurrency Hedge Fund: We'll Succeed, Even if Bitcoin Turns Defunct

  • Dan Morehead, chief executive officer (CEO) and co-chief investment officer of struggling cryptocurrency hedge fund Pantera Capital, recently claimed that even if bitcoin fails like did during the dot-com bubble, the hedge fund would still see investors make money.
  • It noted that in case bitcoin flops like – which filed for bankruptcy in 2000 – did, then they will still “probably do very well.” Using Pantera’s ICO Fund as an example, he pointed out that it would still be positive for them after the Fund, which is made up of 25 ICOs, went down to “single-digit number of blockchains,” and saw 90 percent of the ICOs go to zero.
  • Per the letter, Pantera´s ICO Fund lost about 25 percent of its value last year, but is still up more than 200 percent since it was created.

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Blockchain for Business

  • Evanston IL—CCN correspondent Eric Eissler covered a lecture at Northwestern University by Marie Wieck, IBM General Manager, Blockchain.
  • Wieck covered the industry, the history of blockchain and talked about IBM’s Hyperledger project and how to tackle the challenges of digitization such as food-chain supply safety and digital identity.
  • IBM entered into the blockchain world with the question: Is blockchain the next generation of transactions systems?
  • Walmart has partnered with IBM to build a map of the food supply chain to be able to track produce to promote safety in case of food-borne illness outbreaks.
  • Despite this need for industry-wide collaboration, IBM has been able to decrease the amount of time it takes to trace back the origin of outbreaks down to days rather than weeks without the blockchain technology in place.

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Dubai Employee Steals $200,000 in Cryptocurrency Embezzlement Fraud using Company's Trading Platform

  • According to Dubai-based newspaper Khaleej Times, a cryptocurrency trading platform in the city caught its own employee stealing cryptocurrency for his personal use.
  • He would convert a small percentage of the currency being traded on the platform.
  • Then, he would enter the database platform and upload false information into the fake virtual accounts to convert the currency to his own account and other cryptocurrency trading platforms.
  • The employer had no reason to suspect the employee as he himself had developed the cryptocurrency trading platform and earned laurels for it.
  • Initially, the company realized that cryptocurrency transactions were inconsistent and didn’t match the records in the system.
  • Last year, the Central Bank of UAE warned people regarding the use of cryptocurrencies because of the risks and phishing scams involved.
  • According to Google Trends, UAE is one of the top 10 countries which have the highest rate of interest in bitcoin by region.

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Blockchain and AR is Revolutionizing the Gaming Industry

  • Beyond the timeline, these setups are also organised to represent specific industries, ranging from politics, to commerce, real estate, culture, e.t.c. A typical example of AR implementation is the Mossland Reality Reflection which is a location-based Augmented Reality (AR) mobile game that is based on real estate.
  • The game utilizes a blockchain-based cryptocurrency to facilitate trades, sales and purchases by users of in-game properties, emulating the real-world property market in the game and giving players a new way to interact with each other.
  • Blockchain in the gaming world enhances the value of tokenization as it offers the flexibility that is needed to connect people across different countries and cultures.
  • Blockchain tokens (for example, Moss coin in the case of Mossland) serves as the universal unit of value transfer which influences the liquidity that is necessary in the gaming marketplace.
  • In order to extract real value from any gaming marketplace, blockchain will always play an important role.

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Florida State Employee Arrested for Mining Cryptocurrency on Agency Infrastructure

  • According to a statement released by the Florida Department of Law Enforcement (FDLE), an employee at the Department of Citrus was found using state-owned computing hardware to mine cryptocurrencies.
  • Government owned computational resources have actually been the target of clandestine cryptocurrency mining operations for a very long time now.
  • Given that computers in some state-owned facilities are quite powerful because of the workload they need to handle, individuals are often tempted to use them for self gain.
  • The United States is not alone in its battle against unauthorized use of its computers for cryptocurrency mining.
  • However, in this instance, Matthew McDermott also used a state purchasing card to obtain additional mining hardware worth $22,000.
  • The money was reportedly used between July and December 2017 to purchase 24 graphic processing units according to the Florida law enforcement agency.

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Bitcoin Slips to $7,840 as Sell Volumes Intensify, Cryptocurrency Market Slumps

  • The valuation of the cryptocurrency market, which hovered near the $470 billion mark merely two weeks ago, has declined to $313 billion, as major cryptocurrencies including bitcoin fell in value.
  • Yesterday, on March 16, CCN reported that although many analysts within the cryptocurrency sector and traditional finance industry unanimously agree on an optimistic long-term price trend for the cryptocurrency sector, the majority are skeptical towards the short-term momentum of bitcoin, given the 70 percent correction it has suffered since January.
  • After dipping below the $6,000 mark and falling from $19,666 to $5,920 by recording a 70 percent drop in value, the most dominant cryptocurrency in the global market has rebounded to the $7,000 region, and briefly achieved $11,600 last week.
  • It is difficult for any major cryptocurrency to recover from its recent 70 percent correction because this time, investors in the mainstream and public markets have been damaged by the decline in the price of cryptocurrencies.

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Traditional Liechtenstein Bank Launches Cryptocurrency Investment Platform

  • Citizens of Liechtenstein, a country that has become rather famous for its cryptocurrency acceptance, will soon be able to purchase digital currencies directly from a bank.
  • According to a press release issued by Bank Frick on February 28, 2018, it will be offering a wide variety of cryptocurrencies on its trading platform effective immediately.
  • As is traditional for any cryptocurrency exchange, Bank Frick has stated that it will store all of its customers’ cryptocurrency assets in cold wallets, or rather, on computers air-gapped from the internet for the most part.
  • Thus, it is safe to conclude that the same identification requirements will be carried over for any investor looking to purchase any amount of cryptocurrency from Bank Frick.
  • Furthermore, the bank has announced that it will be accepting foreign currencies in exchange for cryptocurrency assets.

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Crypto Trading App Robinhood Expected to Hit $5.6 Billion Valuation with New Funding

  • Robinhood’s valuation is expected to jump fourfold to around $5.6 billion, driven by the stock brokerage app’s popularity among millennials.
  • The company, which offers cryptocurrency trades in addition to stock trades, is in the process of securing around $350 million from an investor group led by DST Global, a Russian firm.
  • The group led Robinhood’s last funding round one year ago, valuing the company then at $1.3 billion, according to The Wall Street Journal.
  • Robinhood now ranks among the leading 15 private technology firms in the U.S., thanks to investor confidence that it can gain traction in the financial trading market.
  • The gain was driven by an offering of free stock trades that beat the fees of discount brokers.
  • Investors looking to earn a good return under the new round of funding are betting Robinhood can approach E*Trade Financial’s valuation.

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More Bubble Talk: Visa CFO Loses His S**t on Bitcoin

  • Vasant Prabhu, CFO of card leader Visa, can’t seem to come to terms with bitcoin.
  • Visa’s Prabhu has been “shocked” by misguided retail investors who know just enough about bitcoin to be dangerous.
  • Bitcoin fever is everywhere, and it’s insulting to the top finance executive of a global payments company whose brand is weaved throughout a centralized banking system.
  • US banks and have moved to ban credit card payments for cryptocurrencies, while Sweden’s Nordea has banned its employees from owning BTC.
  • While Visa payments aren’t processed in bitcoin, the company falls short of prohibiting its customers from transacting with bitcoin.
  • Visa strongly enforces know-your-customer (KYC) and anti-money laundering protocols, which is yet another reason that bitcoin irritates the company’s finance chief.
  • But that doesn’t mean scamsters, who get away with $200 billion in fraudulent profits yearly, are turning away from cryptocurrencies altogether.

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Big Four Giant PwC Announces Blockchain Auditing Service

  • Price Waterhouse Cooper LLP, a Big Four accounting firm that has supported various blockchain projects, has announced a blockchain audit service that it claims will encourage people to use the still new technology, according to The Wall Street Journal.
  • The service will allow companies to offer an outside review of their use of blockchain technology, thereby ensuring they are using it properly and enabling employees to monitor the company’s blockchain transactions.
  • A. Michael Smith, a partner at PwC who oversees internal audit solutions, told The Wall Street Journal the service provides the need for an independent validation that the technology is operating as intended.
  • In recognizing such concerns among its own clients who were starting to use blockchain technology, PwC was motivated to develop its new solution.
  • The service will allows user within a company to view, test and monitor transactions on the blockchain in near real time.

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