Tag: Tradings

ING Bank Signs 5-Year Licensing Deal With R3 for Access to Its Blockchain Platform Corda

ING Bank Signs 5-Year Licensing Deal With R3 for Access to Its Blockchain Platform Corda

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Dutch international bank ING has signed a deal with enterprise blockchain consortium R3 for access to R3’s commercial blockchain platform, according to a press release published Jan. 22.As a part of the five-year agreement, ING Bank is set to acquire an unlimited number of licenses for R3’s Corda Enterprise platform. The banking giant plants to implement Corda’s decentralized applications (CorDapps) across its global business infrastructure.Based on the R3’s commercial platform, CorDapps provide a number of financial services applicable in banking activity, including trade finance, identity, insurance and capital markets.In turn, by applying R3’s CorDapps, ING will purportedly contribute to the wider adoption of the consortium’s Corda Enterprise platform.R3’s CEO David E. Rutter noted that

Belarus Launches Trading Platform Enabling Customers to Buy Tokenized Securities

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Belarus has launched a trading platform that enables customers to buy tokenized versions of shares, gold and other traditional assets, Reuters reported Jan. 15.The project is reportedly backed by two companies, Larnabel Ventures and VP Capital. According to Reuters, the government of Belarus has not yet commented on the launch of the platform, but it was covered by the state news agency BelTa.The platform will allow traders to buy shares, precious metals, foreign exchange and other traditional assets from Belarus, as well as from other countries, with cryptocurrencies.Since its launch, the platform has reportedly issued 150 different types of tokens, with each corresponding to a traditional financial instrument. The company expects to eventually grow this number to 10,000.According to the ...
Diar Report: 2018 Sees ‘Record Transacting Volumes’ on Crypto Exchanges

Diar Report: 2018 Sees ‘Record Transacting Volumes’ on Crypto Exchanges

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY, ETHEREUM
Cryptocurrency exchanges have closed 2018 with “record transacting volumes,” according to a report by research firm Diar published Jan. 14.In its report, Diar notes that both the number of trades and the trade volume have increased on major crypto exchanges in 2018, compared to 2017 figures. The firm predicts that 2019 will see lower figures for spot markets than in 2017, despite the likely increase in the variety of traded cryptocurrencies.According to Diar’s data, the combined trade volume of the USD markets on major United States crypto exchange Coinbase increased by 21% in 2018 versus 2017. Over the same period, exchanges Kraken and Bitfinex saw increases of 192% and 50% respectively.In addition to growing trade volumes, Coinbase reportedly registered a 14.1% increase in the number of
Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings

Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings

COINTELEGRAPH, CRYPTOCURRENCY
The security token exchange subsidiary of e-commerce retail giant Overstock, tZero, has started releasing control of its tokens, according to a letter to investors released on Jan. 11.Last August, the subsidiary had announced that its security token offering would close, having raised $134 million out of the maximum amount of $250 million previously specified. In June 2018, tZero had also signed a letter of with investment company GSR Capital for the purchase of $160 million in tZero Security Tokens.According to tZero CEO Saum Noursalehi’s letter, investors now have the option of choosing where to hold their security tokens, either by creating a brokerage account with Dinosaur Financial Group, a tZero partner and broker dealer, or holding them in a person wallet with a two-step verificatio
US Feds Raid Tech Hub for Unauthorized Crypto Trading: Report

US Feds Raid Tech Hub for Unauthorized Crypto Trading: Report

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
United States federal agencies reportedly raided the office of a Michigan-based science and tech center last month during a crypto-related investigation, local news outlet Wood-TV reported Jan. 5.As Wood-TV reported, Chris Boden, the founder of The Geek Group, made a live public statement on YouTube Saturday night, which has evidently since been deleted. Boden reportedly claimed the office of his tech-oriented, non-profit organization had been raided by members of the U.S. Federal Bureau of Investigation (FBI) and the Department of Homeland Security (DHS) on Dec. 21, elaborating that computers and other equipment were taken from his the office.Wood-TV reported that Boden had stated he was “commercially trading in crypto-currency [sic] without the proper authorization.”The founder also repo
Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock Trading

Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock Trading

COINTELEGRAPH, CRYPTOCURRENCY, ETHEREUM
Estonian digital trading platform DX Exchange will begin offering tokenized stocks on the Ethereum blockchain next week, the company confirmed in a press release Jan. 3.DX, which will reportedly be the first exchange to offer such trading in a fully regulated environment in the European Union, will use Nasdaq’s Financial Information exchange (FIX) protocol to deliver the product.According to the company’s press release, cryptocurrency users will be able to purchase tokens that will be backed by stocks in various major companies, including Google, Facebook and Amazon.The shares will be purchased on users’ behalf by MPS MarketPlace Securities Ltd., with which DX has an exclusive partnership agreement.“Digital stocks combine the best of both worlds: blockchain technology and traditional stock
Italian Financial Regulator Issues Cease and Desist Order to Crypto-Related Project

Italian Financial Regulator Issues Cease and Desist Order to Crypto-Related Project

COINTELEGRAPH, CRYPTOCURRENCY
The financial regulator of Italy has barred a cryptocurrency-related project from operations for the provision of allegedly unauthorized investment services, according to an official statement published Dec. 14.Founded in 1974, the Italian National Commission for Companies and the Stock Exchange — or Commissione Nazionale per le Società e la Borsa (CONSOB) — is the government authority of Italy responsible for regulating the Italian securities market.The company prohibited by the CONSOB, Avacrypto, allegedly offered its services to the Italian public without the required authorization, including operating through the website www.avacrypto.com. At press time, Avacrypto’s website is not accessible.Earlier in December, the CONSOB suspended two other projects for a 90-day period for allegedly
Pump-and-Dump Groups Become ‘Widespread’ as Market Remains Largely Unregulated

Pump-and-Dump Groups Become ‘Widespread’ as Market Remains Largely Unregulated

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
The Social Science Research Network (SSRN) recently published research studying the phenomenon of pump-and-dump groups within the crypto community. The paper — conducted by seven academics from Tel Aviv University, the University of Tulsa and the University of Mexico — concluded that “regulators should be very concerned that price manipulation via pump and dump schemes is so widespread.”What is a pump-and-dump scheme?A pump-and-dump scheme is a type of price manipulation where a group of traders aim to drive an asset’s price up through coordinated buying. Once outside investors notice the surge in price, the insider group starts selling the positions they previously acquired at lower prices, thus making a profit.It is important to stress that pump-and-dump schemes are illegal and considere
Second Largest Exchange OKEx Launches New Crypto Derivative Product

Second Largest Exchange OKEx Launches New Crypto Derivative Product

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Malta-based major cryptocurrency exchange OKEx has launched a new crypto derivative product, according to a press release shared with Cointelegraph, Dec.19.As Cointelegraph reported at the beginning of the month, the new product, dubbed Perpetual Swap, is a virtual derivative that lets users speculate on the future value of BTC/USD, according to OKEx’s index.Per the release, currently each swap contract has a notional value of $100 equivalent in Bitcoin (BTC) and features leverage ranging from 1x to 100x.Moreover, perpetual swaps reportedly have no expiration, meaning “positions can be held indefinitely.”OKEx is currently the world’s second largest exchange by adjusted daily trade volume, seeing over $1 billion in trades on the day to press time.New cryptocurrency derivative products are a
Report: Out of 460 Million Bitcoin Addresses, Only 37% ‘Economically Relevant’

Report: Out of 460 Million Bitcoin Addresses, Only 37% ‘Economically Relevant’

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Only 37 percent of Bitcoin (BTC) addresses in its network are “economically relevant,” according to a report released by research firm Chainalysis on Dec. 19.To date the Bitcoin blockchain forms a network of 460 million addresses, which can send and receive the coin, per Chainalysis. An individual or a legal entity can have any number of Bitcoin addresses.Economically relevant addresses are controlled by individuals or services who currently own Bitcoin, and constitute only 37 percent — or 172 million addresses, — while only 27 million of these actually hold the cryptocurrency.Chainalysis identified that out of the mentioned above 37 percent of addresses, 86 percent — or 147 million — are owned by a named service like an exchange or darknet market. As further stated, just 20 percent of Bit