Israelis Released in Phillipines, CFTC Sends Subpoenas: Best of the Week
- Catch up on last week's top stories.
American cryptocurrency exchanges get subpoenas
The US Commodity Futures Trading Commission demanded trading data from four major cryptocurrency exchanges, suspecting price manipulation.
The price of Bitcoin as defined by these companies is what sets the price for the Bitcoin futures sold be CME Group.
Call centre managers released in Philippines
Ten days ago we reported that a group of Israeli citizens had been arrested in the Philipines for running a boiler room operation. They were displayed, shackled and clad in prison uniforms, on local television.
The operation used a fake company name and pretend licence and employed locals to cold-call people all over the world to sell them fake financial investments. The alleged ringleaders were released last week because they were "not committing any offense" at the time of their arrest, according to Philippine authorities.
McAfee vs. the SEC
Eccentric millionaire and cryptocurrency enthusiast John McAfee attacked the Securities and Exchange Commission of the US for viewing Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term as securities, inviting agency head Clayton to debate him.
Clayton had said in an interview that he feels that most ICOs are selling securities. McAfee responded: “I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!!”
TRON acquires BitTorrent
Justin Sun, the developer of the TRON Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term platform, purchased the company behind the peer-to-peer file transfer protocol BitTorrent. Details of the deal were not disclosed, and BitTorrent employees were told not to share them.
The deal was first reported in May, and Sun apparently signed a letter of intent in January. He also filed a temporary restraining order against BitTorrent, preventing it from searching for other buyers.
Interview with Chief Business Development Officer of Lykke Corp
New regulations are coming to Europe on the 1st of August courtesy of ESMA. The rules are going to affect the profitability of foreign exchange brokers, but nobody knows to what extent.
In this exclusive interview, Dr. Demetrios Zamboglou of a Swiss blockchain company Lykke Corp discusses how leverage will change, his Microsoft-funded research into trading behaviour, and whether brokers will be able to survive the new rules.
EOS madness
EOS, the blockchain project that raised $4 billion in its ICO, finally went live last week, following a number of postponements due to technical issues.
The network was waiting for 15 percent of token holders to vote for activation, which was complicated by last-minute changes to the EOS protocol. Now the process has begun - at the time of launch the project's market capitalisation was almost $10 billion
Analysis: women in the blockchain industry
Gender discrimination is as much of an issue in the blockchain technology as it is in any other, especially since it is beginning to segue with the male-dominated arena of traditional finance. At the same time, cryptocurrency has enormous potential in giving financial freedom to women who are heavily constrained by the demands of family and/or patriarchal society.
After a report in the New York Times in February report told us that only 4-6% of blockchain investors are female, we felt it was time to check if there has been any progress since then.
Binance has a busy week
On Tuesday we reported that giant cryptocurrency exchange Binance had announced reading 9 million users, a huge jump from the 2 million that it served in January.
It also added a new cryptocurrency to its roster - Ethereum Classic, a fork of Ethereum with a market capitalisation of $1.4 billion.
Later that same day we reported that it will be accepting fiat currency for the first time via its office on the island of Malta.
The news was broken by Bloomberg following an interview with CEO Zhao Changpeng. Reportedly, the exchange has already opened a bank account on the island.
On Wednesday, we reported that giant cryptocurrency exchange Binance had signed a memorandum of understanding with an industry organisation on the island of Jersey, a British territory situated off the coast of France.
It will be opening an exchange on the island while assisting the local government to promote digital education and training amongst the population.
American cryptocurrency exchanges get subpoenas
The US Commodity Futures Trading Commission demanded trading data from four major cryptocurrency exchanges, suspecting price manipulation.
The price of Bitcoin as defined by these companies is what sets the price for the Bitcoin futures sold be CME Group.
Call centre managers released in Philippines
Ten days ago we reported that a group of Israeli citizens had been arrested in the Philipines for running a boiler room operation. They were displayed, shackled and clad in prison uniforms, on local television.
The operation used a fake company name and pretend licence and employed locals to cold-call people all over the world to sell them fake financial investments. The alleged ringleaders were released last week because they were "not committing any offense" at the time of their arrest, according to Philippine authorities.
McAfee vs. the SEC
Eccentric millionaire and cryptocurrency enthusiast John McAfee attacked the Securities and Exchange Commission of the US for viewing Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term as securities, inviting agency head Clayton to debate him.
Clayton had said in an interview that he feels that most ICOs are selling securities. McAfee responded: “I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!!”
TRON acquires BitTorrent
Justin Sun, the developer of the TRON Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term platform, purchased the company behind the peer-to-peer file transfer protocol BitTorrent. Details of the deal were not disclosed, and BitTorrent employees were told not to share them.
The deal was first reported in May, and Sun apparently signed a letter of intent in January. He also filed a temporary restraining order against BitTorrent, preventing it from searching for other buyers.
Interview with Chief Business Development Officer of Lykke Corp
New regulations are coming to Europe on the 1st of August courtesy of ESMA. The rules are going to affect the profitability of foreign exchange brokers, but nobody knows to what extent.
In this exclusive interview, Dr. Demetrios Zamboglou of a Swiss blockchain company Lykke Corp discusses how leverage will change, his Microsoft-funded research into trading behaviour, and whether brokers will be able to survive the new rules.
EOS madness
EOS, the blockchain project that raised $4 billion in its ICO, finally went live last week, following a number of postponements due to technical issues.
The network was waiting for 15 percent of token holders to vote for activation, which was complicated by last-minute changes to the EOS protocol. Now the process has begun - at the time of launch the project's market capitalisation was almost $10 billion
Analysis: women in the blockchain industry
Gender discrimination is as much of an issue in the blockchain technology as it is in any other, especially since it is beginning to segue with the male-dominated arena of traditional finance. At the same time, cryptocurrency has enormous potential in giving financial freedom to women who are heavily constrained by the demands of family and/or patriarchal society.
After a report in the New York Times in February report told us that only 4-6% of blockchain investors are female, we felt it was time to check if there has been any progress since then.
Binance has a busy week
On Tuesday we reported that giant cryptocurrency exchange Binance had announced reading 9 million users, a huge jump from the 2 million that it served in January.
It also added a new cryptocurrency to its roster - Ethereum Classic, a fork of Ethereum with a market capitalisation of $1.4 billion.
Later that same day we reported that it will be accepting fiat currency for the first time via its office on the island of Malta.
The news was broken by Bloomberg following an interview with CEO Zhao Changpeng. Reportedly, the exchange has already opened a bank account on the island.
On Wednesday, we reported that giant cryptocurrency exchange Binance had signed a memorandum of understanding with an industry organisation on the island of Jersey, a British territory situated off the coast of France.
It will be opening an exchange on the island while assisting the local government to promote digital education and training amongst the population.