Bitcoin

CME Bitcoin Futures Reports Record Volume, Is Institution’s Interest Rising?

February 22nd, 2019

On February 8th, Bitcoin has been changing hands at $3,400 only to take a surge to $3,662 level. For the next ten days, the Bitcoin price oscillated around $3,600 level. However, this week, Bitcoin took a hike of 10 percent and nearly reached $4k mark. In tandem with the surge in Bitcoin price, the volume…

Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

February 22nd, 2019

The U.S. Securities and Exchange Commission (SEC) has decided not to impose a penalty on a company that had issued security tokens without its approval and without qualifying for an exemption. The company raised approximately $12.7 million. No Penalty The SEC announced on Wednesday that it did not impose a penalty on Gladius Network Llc…

Liechtenstein Bank Creates Cryptocurrency Trading Platform for Institutional Investors

February 22nd, 2019

A private bank in Liechtenstein has established a cryptocurrency trading platform for institutional investors. Balzers-based Bank Frick will offer the service through its new subsidiary DLT Markets AG. Investors to Gain Access to Multiple Cryptocurrency Markets According to a statement released by the bank on Feb. 20, DLT Markets will provide its customers with the…

University of Michigan Endowment Backs Crypto Venture Capital Fund

February 22nd, 2019

The financial endowment fund of the University of Michigan, one of the oldest and most established academic institutions in the U.S., is the latest institutional investor revealed to have entered the cryptocurrency ecosystem. Its endowment is backing a crypto venture capital fund managed by Andreessen Horowitz. University of Michigan Endowment Backs Crypto VC The University…

How Crypto Compliance Requests Strip User Privacy

February 21st, 2019

Money transmitting services that enable users to switch from crypto to fiat is a valuable resource. There’s still a shortage of cryptocurrency off-ramps, and thus reliable services that offer a reasonable exchange rate are to be cherished. But the convenience that crypto debit cards and other crypto-fiat exchanging services offer comes at a high price…

‘Bitcoin Killer’ Onecoin Is Ashes But Investigations Continue to This Day

February 21st, 2019

Back in 2014, a group led by a woman named Ruja Ignatova created a Ponzi scheme called Onecoin which, together with the organization Onelife, defrauded billions from 3 million people. At peak popularity, the group declared that Onecoin would be a “Bitcoin killer” but the pyramid scheme is now in ashes and many of its…

CME Group’s Bitcoin Futures See a Surge of Institutional Interest

February 21st, 2019

The Chicago Mercantile Exchange (CME Group) has seen a big spike in bitcoin futures volumes according to an internal investors email sent to clients on Feb. 19. CME Group’s note explains that last Tuesday’s BTC-based futures volumes touched a new record with 18,338 contracts traded and the firm says increased volumes may be due to…

Cryptocurrency Exchange Exmo Opens Branch in Turkey

February 21st, 2019

Digital asset exchange Exmo, a leading crypto trading platform in Eastern Europe, has recently registered a subsidiary in Turkey. The company is setting up an office in Istanbul, the financial capital of the country situated on the Bosphorus. Traders Offered Pairs With the Turkish Lira The decision to establish the branch is part of Exmo’s…

Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries

February 21st, 2019

Money laundering scandals involving some of the world’s largest banks have grown this week. Switzerland’s largest bank, UBS, has been fined 3.7 billion euros (~$4.2 billion) for money laundering. Amid a $226 billion scandal, Estonian authorities have ordered Denmark’s largest bank to terminate its operations in the country. Danske Bank is also shutting down in…

How to Use Cryptocurrency to Send Money Abroad

February 21st, 2019

The global remittance industry is huge. World Bank data shows that over $148 billion was sent abroad from the U.S. alone in 2017. As people leave nations gripped by hyperinflation, or simply move to look for better opportunities abroad, sending cash back home becomes a necessity. As the people in Venezuela are discovering, this can…