Cryptocurrency Daily News Bulletin: September 20, 2018

September 20, 2018 1:38 pm Published by

General News

Japan: Yet another Japan-based crypto exchange has been hacked, losing a 6.7 billion yen ($60 million), including 5,966 BTC. Licensed exchange, Zaif, announced yesterday that they first noticed an unusual outflow of funds on the platform on Sept. 14, after which the company suspended asset deposit and withdrawals. Ironically, The FSA had already issued a business improvement order to the company in March specifically on its security and AML measures. The firm has now reached an agreement with a Japan-listed firm, Fisco, to receive a $44.5 million investment in exchange for a major share of ownership. The National Police Agency (NPA) said, through 158 cyber-breaches, hackers had stolen a massive 60.503 billion yen ($540 million) worth of crypto so far this year in Japan, compared to $5.9 million last year.

The Australian Securities and Investments Commission (ASIC) is ramping up its scrutiny into ‘misleading or deceptive’ ICOs and crypto-asset funds targeting retail investors.

Komgo SA is a new blockchain venture developed and backed by big trading firms and banks, including: ABN Amro, BNP Paribas, Citi, Crédit Agricole, MUFG Bank, Societe Generale, Shell and Consensys among many others. Komgo plans to go live with two products by the end of a year: a system for exchange digital letters of credit and a tool for going through the KYC process without requiring a central database.

New York University (NYU) has started to offer the first crypto major course in the US.

The New York State Attorney General (OAG) Office’s recent report claims that 20% of Coinbase trades are made by the exchange itself against investors. “That certain platforms themselves account for such high levels of activity… calls into question whether the natural market for virtual currencies is as robust as customers might believe it to be”. Coinbase have hit back claiming that these trades are executed on behalf of Coinbase Consumer customers, not itself.

The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three crypto related schemes: Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an initial investment of $1,000 into $10,000 in three weeks.

Upbit has officially announced the launch of Upbit Singapore, which will be fully operational by October. This follows Binance’s recent expansion to Singapore as the nation’s favourable regulations on the industry continues to attract big-profile names.

Cryptocurrencies

Bitcoin $6,430.66 USD (1.53 percent) experienced volatile trading yesterday between 6 p.m. and 7 p.m. UK time, when its price fell from $6,300 to $6,100 before shooting up to $6,500 – all within an hour’s time.  Coincidentally, the move occurred within just minutes of a CBOE Bitcoin Futures expiration. The move could also be attributed to news flow getting out about the second Japanese exchange hack this year. Nonetheless, the strong bounce above the $6,000 handle shows buyers remain strong around this price region.

Meanwhile, an abnormally severe bug was discovered in bitcoin’s software, prompting developers to put together and release a fix on Tuesday. Fixed and revealed to the wider public by way of Bitcoin Core software version 0.16.3, the vulnerability is a denial-of-service bug. If exploited, it can be used to take out nodes and temporarily crash a significant segment of the network. “If you’re reckless enough to be running lightning, you should really update ASAP, or close your channels,” Blockstream engineer Gregory Sanders urged on reddit, as a temporary crash would put lightning channel funds at risk.

Basic Attention Token $0.157316 USD (7.85 percent): Ethereum-based Brave Browser is already being considered as a viable alternative to existing browsers like Chrome and Firefox by Popular Science, a widely recognized science magazine. Brave recently surpassed 3 million users, with more than 18,000 publishers and content creators registered, enabling them to collect BAT donated by Brave users.

Digibyte $0.025496 USD (2.16 percent) is now available on ChangeNow, an android app that makes it easy to buy crypto assets through the phone.

Funfair $0.018042 USD (19.73 percent) have launched the first Funfair-powered casino, CasinoFair; the world’s first immutably fair casino as every roll of the dice, turn of a card and spin of the wheel can be verified. The first iteration of CasinoFair will see ten original FunFair-produced game titles at launch, including blockchain-firsts Tales from the Crypto and Fate of Thrones, as well as FunDice and casino classics like European Roulette and Blackjack. The FUN token has risen over 20% in the last 24-hours ahead of launch.

Komodo $1.04 USD (3.63 percent) have unveiled two new partnerships. CoinFlip will help in the integration of KMD tokens through its network of ATMs. The second partnership is with a crypto exchange CoinSwitch. The companies have teamed up to launch a KMD dedicated platform that will allow the users to trade KMD at the lowest possible rate without having to register in any centralized crypto exchange.

NEO $17.29 USD (1.57 percent): Switcheo Network co-founder Jack Yeu has announced that the NEO-based DEX platform is set to become the first ever ETH/NEO trading platform, offering services to support both frameworks with an all new trading interface and a new ERC-20 non-custodian trading platform to support Ethereum-based tokens.

Ripple $0.356145 USD (11.17 percent) has signed on another bank to its enterprise blockchain network, RippleNet. PNC Bank, the 9th largest bank in the United States by assets, is also the fifth largest bank by number of branches and the 4th largest with the most ATMs in the United States.

SALT $0.421018 USD (2.59 percent) have announced its largest expansion wave so far, launching operations in 15 more US states, including Texas, Washington, New Jersey, and Massachusetts. Salt will also expand overseas reaching seven countries, including Switzerland, Hong Kong, the United Arab Emirates (UAE), Brazil, Puerto Rico, Bermuda, and Vietnam. The move comes after another expansion wave held last month, in which SALT opened offices in 20 US states.

Stellar $0.209844 USD (2.03 percent) is working with Singapore-based money transfer platform TransferTo to facilitate low-cost blockchain-based cross-border remittances for underbanked and unbanked consumers in emerging markets.

Tron $0.020255 USD (3.58 percent) have announced its listing on BitBay, following its new trading pairs announced on Bittrex and Binance.

Verge $0.013729 USD (3.78 percent) support on Ledger Nano S is in final stages of testing

WN.com, Jamie Saarloos



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