Tag Archives: cryptocurrencies

PegNet Launches Mobile Wallet for Android

PegNet Launches Mobile Wallet for Android

Adrian Mathieu   •   Ethereum News   •   May 4, 2020   •   2 Min read

The fully-decentralized network of stablecoins, PegNet, announces the launch of the first mobile wallet for Android users to easily convert pegged asset tokens.

  • PegNet wallet hosts 42 stable pegged asset tokens of the top fiats, cryptocurrencies, and commodities gold and silver
  • PegNet is the first proof-of-work oracle-based stablecoin network for DeFi
  • Fixed $0.001 cost for all transactions and conversions within the PegNet system

PegNet community launches the first mobile wallet for users on the android app store. Cryptocurrency users now have the ability to convert pegged stable asset tokens and the native PEG token easier than ever and for next to no cost.

The decentralized stablecoin network is entirely community-built, first launching fair-start proof-of-work CPU mining in August of last year with transactions and conversions going live in October. In less than one year, the PegNet community has developed a robust mining and trading community, earned listings onto multiple exchanges including IDEX and US-based qTrade exchange, and more regularly sees new integrations and collaborations with other DeFi communities and projects. Last week, PegNet announced its mutually-beneficial integration with Chainlink, making it the first POW oracle source for Chainlink.

With the increased demand for stablecoins in the past year combined with the recent draft suggestions from the FSB for classifying and regulating stablecoins worldwide, the PegNet community believes timing is ripe for a fully-decentralized option such as PegNet for cryptocurrency traders and users. PegNet combines the best principles from the decentralized cryptocurrency, Bitcoin, with the best characteristics of centralized stablecoins to create a first-of-its-kind DeFi solution built by the people, for the people.
Community member and miner, David Johnston is enthusiastic about the newest PegNet developments saying, "It’s never been easier to move between different assets. With this one mobile wallet you can now convert between crypto, stablecoins, & Gold and Silver with the push of a button."

About PegNet

PegNet is an open-source, community-built and oracle based stablecoin network for DeFi. A novel innovation that synthetically tokenizes fiat currencies, crypto assets, and commodities. Powered by the Ethereum and Factom protocols, PegNet offers frictionless movement between any of the 46 assets comprised of the top fiat currencies, cryptocurrencies, commodities gold and silver, and the native PEG token in a network that is fully-decentralized, open-source, fully-auditable, trustless and CPU-mineable. PegNet relies on POW miners to report oracle price record data and does not expose users to any of the collateral or reserve-based risks.

PegNet is a fair-start POW project since the genesis block never having had an ICO, IEO, Airdrop, Founder, Founder’s reward, Fund, Foundation, or pre-mine event. To join the community conversation, visit pegnet.org/chat.

Media Contact

Kaitie Zhee

kaitie@spacemademedia.com

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Original article posted on the EthereumWorldNews.com site, by Adrian Mathieu.

Article re-posted on Markethive by Jeffrey Sloe

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EMX Exchange Halts Trading of USOIL-Perp After Crude Oil Crash

EMX Exchange Halts Trading of USOIL-Perp After Crude Oil Crash

The exchange had not been designed to handle negative values of global futures contracts.

John P. Njui   •   News Exchanges   •   April 21, 2020   •   2 Min read

In brief:

  • Everyone was shocked when US Oil prices hit zero and global futures contracts fell hard into negative territory.
  • Such an event had not been anticipated by the team at the EMX exchange.
  • The team halted trading of its USOIL-Perp contract.
  • Trading of the perpetual contract is yet to be reopened as the team decides on a way forward.

Yesterday's price movement of US Crude Oil shocked everyone. The majority of traders were confident that the price of the precious commodity would not break the various support zones that were last seen in the 1980s. However, the WTI Crude Oil chart went right through the decades' strong support zones at $15, $12 and $9. The price per barrel went to zero as futures contracts went into negative territory as low as $-40.

EMX Exchange Halts Trading of its USOIL-Perp

Such a scenario of negative prices of US Oil futures contracts had not been anticipated by the team at the EMX Exchange. As a result, the team decided to halt the trading of its USOIL-Perpetual contract. The screenshot below shows that trading was stopped at 18:00 (UTC) on the 20th of April. The last price of the USOIL-Perp contract was $3.48. This is after its value almost hit zero.


USOIL-Perp Chart courtesy of EMX.com (Click on Image for larger view)

Unexpected Sequence of Events

As earlier mentioned, very few traders and investors had anticipated that the price of US Crude Oil futures contracts would go into negative territory. The team at EMX has also explained that such a scenario had not been planned for. They have since issued the following statement via Twitter explaining the situation at hand.

We are currently investigating ways to move forward with USOIL-PERP due to negative underlying prices, an edge case that we had not built for.

Additionally, the team has halted withdrawals as they verify all transactions. They explained this in a follow up of the first announcement.

For those of people who concerned about withdrawal, we are manually verifying all transactions and everyone should get it back within 1-3 business days. We apologize for the inconvenience.

What's Next for USOIL-Perp Traders on EMX?

As the stoppage only affects the USOIL perpetual contract, trading of other contracts on EMX is still much active. However, traders who anticipated the Crude Oil meltdown and decided to go SHORT, might have to wait till the team at the exchange decides on a way forward.

More About EMX Exchange

Founded in 2017, the Evermarkets Exchange (EMX) has a vision of revolutionizing the global derivatives markets. The exchange does this by allowing users to trade contracts on equities, currencies, commodities as well as popular cryptocurrencies. The latter includes perpetual contracts on Bitcoin (BTC), Ethereum (ETH), EMX token, ChainLink (LINK) and Tezos (XTZ).

(Feature image courtesy of Erwan Hesry on Unsplash.com.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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SEC Charges Ohio Man For Running Fraudulent Digital Asset Scheme

SEC Charges Ohio Man For Running Fraudulent Digital Asset Scheme

By RTTNews Staff Writer | Published: 2/12/2020 9:52 AM ET

The U.S. Securities and Exchange Commission (SEC) charged an Ohio-based businessman for allegedly orchestrating a digital asset scheme that defrauded approximately 150 investors, including many physicians.

In the SEC’s complaint, filed in federal court in New York, the SEC seeks a permanent injunction, disgorgement plus pre-judgment interest, and a civil penalty.

Michael Ackerman is charged for raising at least $33 million from more than 150 investors through a fraudulent offer and sale of securities in the form of investment contracts between no later than July 1, 2017 and until at least December 1, 2019. He did this through two entities he controlled, Q3 Trading Club and Q3 I, LP.

The investors were made to believe that Ackerman had developed a proprietary algorithm that allowed him to generate extraordinary profits while trading in cryptocurrencies. Particularly, physicians made investments in the two Q3 companies based on these alleged claims by one of the business partners who also is a physician.

The SEC’s complaint alleges that Ackerman misled investors about the performance of his digital currency trading, his use of investor funds, and the safety of investor funds in the Q3 trading account.

He doctored computer screenshots taken of Q3’s trading account to prepare false financial records to create the illusion that Q3 was highly invested in cryptocurrencies, with holding assets of as much as $310 million.

SEC alleges that in reality at no time did Q3’s trading account hold more than $6 million and Q3 Companies’ trading account had a monthly balance averaging only about $1.7 million. The profits generated by the Algorithm were also minimal. The false reports claimed that the Q3 Companies generated monthly profits of at least 15 percent.

He used $7.5 million of investor funds for personal purposes, buying and renovating a house, purchasing high end jewelry, multiple cars, and pay for personal security services.

In parallel actions, the U.S. Attorney’s Office for the Southern District of New York and the Commodity Futures Trading Commission filed charges against Ackerman arising from similar conduct.

The SEC is conducting the investigations with assistance of the Commodity Futures Trading Commission, the U.S. Attorney’s Office for the Southern District of New York, the Federal Bureau of Investigation, and the Department of Homeland Security.

For comments and feedback contact: editorial@rttnews.com

Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Deutsche Bank: Cryptocurrencies Won’t Replace Cash Anytime Soon’

Deutsche Bank: Cryptocurrencies Won’t Replace Cash ‘Anytime Soon’


Image courtesy of CoinTelegraph

            JAN 27, 2020

Deutsche Bank’s research arm issued a report predicting that cash will be around for a long time despite the surge of digital currencies.

Cash is unlikely to disappear anytime soon despite the decline of its use as a payment method and the surge of digital currencies, Germany’s largest bank believes

Cash is unlikely to disappear anytime soon despite declining use as a payment method and the surge of digital currencies, Germany’s largest bank says.

Deutsche Bank, a German multinational investment bank that previously predicted that cryptocurrencies will replace fiat by 2030, now claims that cash “will be around for a long time” as a preferred method of payment.

Deutsche Bank Research issues three reports on the future of payments

The bank has forecast a tentative future for cash in one of its recent “The Future of Payments” reports carried out by Deutsche Bank’s research arm Deutsche Bank Research. Titled “Cash: the Dinosaur Will Survive … For Now,” the report was issued on Jan. 21 and represents the first part of a series of reports on the future of payments. The second part, called “Moving to Digital Wallets and the Extinction of Plastic Cards,” was published on Jan. 23, while the third and final part of the series, “Digital Currencies: the Ultimate Hard Power Tool,” was issued on Jan. 27.

Despite expressing its confidence that cash will remain a major payment method in the near future, Deutsche Bank admits to a growing role for the ongoing digital payment revolution. The bank wrote in its “Cash” report:

“In this report, we argue that cash is unlikely to disappear anytime soon. However, a real digital payment revolution has been underway for the past ten years. Cash is losing ground as a payment method. Several countries have recently removed large notes worth $100 or more and implemented policies to replace traditional payment methods with digital solutions. In the midst of these changes, non-sovereign cryptocurrencies pose a threat to political and financial stability.”

Over 50% of people in developed countries believe that cash will always be around

As part of the cash-focused report, Deutsche Bank Research conducted a survey indicating that a third of people in developed countries consider cash to be their favorite, while more than 50% are sure that cash will always be around. Additionally, the bank found out that Germans hold the highest average rate of cash among advanced economies, which accounts for 52 euro or about $57 at press time. According to Deutsche Bank, Germany plans to use even more cash in the coming six months.

The world’s two most populous countries encouraging greater use of digital currencies

Deutsche Bank further outlined that the future of cash will greatly depend on further developments in China and India, which are the world’s two most populous countries. Specifically, the bank emphasized that both countries have been encouraging greater use of digital currencies and blockchain. As such, China’s President called for the country to accelerate its blockchain adoption in late 2019, while India’s securities regulator recently urged on Jan. 23 that exploration of the best possible usage of blockchain in securities markets.

As China has reportedly seen progress with its government-backed digital currency, Deutsche Bank warned that the adoption of such a currency poses a serious threat to the United States dollar:

“China is working on a digital currency backed by its central bank that could be used as a soft- or hard-power tool. In fact, if companies doing business in China are forced to adopt a digital yuan, it will certainly erode the dollar’s primacy in the global financial market.”

As to the growing trend of crypto and blockchain industry, Deutsche Bank has also been actively working in the developments in this area. In September 2019, Deutsche Bank joined JPMorgan’s blockchain-based network, the Interbank Information Network to reduce the cost of processing difficult payments and offer better client services.

Original article posted on the CoinTelegraph.com site, by Helen Partz.

Article re-posted on Markethive by Jeffrey Sloe

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Texas Regulator Lists Cryptocurrencies Among Top Threats To Investors

Texas Regulator Lists Cryptocurrencies Among Top Threats To Investors

By RTTNews Staff Writer | Published: 1/23/2020 10:32 AM ET

The Texas State Securities Board or TSSB listed cryptocurrencies to be among the top threats to investors. This was revealed in the 10th anniversary edition of the Texas Investor Guide published by the TSSB under the title “Strategies for Investing Wisely and Avoiding Financial Fraud.”

The regulator lists cryptocurrency offerings as a threat to investors as they are extraordinarily volatile or risky and almost impossible for a layperson to understand. Cryptocurrency prices continue to be in a constant cycle of boom and bust.

Cryptocurrencies became popular at a time when bitcoin reached a record high of $19,891 in December 2017, an increase of 1,800 percent for the year. However, the price had dropped to $6,846 in less than two months later.

Investors began looking at virtual currencies as a quick path to wealth. Even seniors and retirees got easily persuaded to invest in initial coin offerings and cryptocurrency mining pools.

This has resulted in a huge number of cryptocurrency-related cases that have and are being investigated by the TSSB. In fiscal year 2019, 30 percent of the investigations opened by the Enforcement Division involved cryptocurrency offerings.

The TSSB has been one of the most active state regulators with regard to cryptocurrencies for the well-being of investors in Texas. It was the first to enter an order against a cryptocurrency firm and has reportedly entered the most orders of any state regulator.

Since April 2018, the Texas state regulator found widespread violations of the Texas Securities Act in cryptocurrency offerings during an investigation of investment offerings that were tied to virtual currencies.

In the current publication, the regulator warned investors not to invest in cryptocurrency offerings unless they can determine some basic facts about the company, primarily the identity of principals and its physical location. Otherwise, the investor will end up transferring funds to anonymous third parties at undisclosed locations.

Additionally, the TSSB urges the potential investors to see audited records or other financial information to back up any claims of high profits. Most important, it urges investors to deal with registered parties.

The regulator states that the state of Texas’ rigorous registration requirements applies equally to traditional securities and emerging securities, including products tied to cryptocurrencies. It warns that the investor will have little or no recourse if their money is stolen.

For comments and feedback contact: editorial@rttnews.com

Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Bitstop To Install Bitcoin ATMs At Simon-operated Malls

Bitstop To Install Bitcoin ATMs At Simon-operated Malls

By RTTNews Staff Writer | Published: 11/29/2019 9:08 AM ET

Miami-based Bitcoin ATM operator Bitstop is in deal with Simon Malls, the largest shopping mall operator in the U.S., to install Bitcoin ATMs across the U.S. at Simon Mall locations. The installations come in time as holiday season is on.

Bitstop, a licensed and regulated company, has already installed five Bitcoin ATMs recently at Simon operated malls in California, Florida and Georgia. They are Carlsbad Premium Outlets, Miami International Mall, Sawgrass Mills, The Avenues and Mall of Georgia.

In October, Bitstop had installed the Miami International Airport first Bitcoin ATM. It is the third-busiest airport in the U.S., in terms of international passenger traffic, and will help customers conveniently exchange their dollars for Bitcoin and vice versa while on domestic or international travel.

Bitstop said it has a total Bitcoin ATM count of more than 130 machines across the U.S. and is on track to expand the Bitstop network to more than 500 Bitcoin ATM installations by the end of 2020.

Automated kiosks for buying bitcoin are becoming increasingly popular in the U.S. More than half of the world's Bitcoin ATMs are installed in the United States.

There are a total of 3963 Bitcoin ATMs currently installed in United States out of a total of 6055 Bitcoin ATMs globally, according to data from Coin ATM Radar. The total count is expected to reach 10,000 by the end of 2020, with the recent average daily installation rate of more than 10 machines.

In July, Bitcoin ATM operator LibertyX had entered into a deal with traditional ATM operator Desert ATM to convert cash-dispensing ATM machines into those dispensing cryptocurrencies as well. LibertyX will load its software on 90 Desert ATMs, specifically the ones manufactured by Genmega, in Arizona and Nevada.

For comments and feedback contact: editorial@rttnews.com

Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Bookingscom Partners Travalacom For Payments In Cryptos

Bookings.com Partners Travala.com For Payments In Cryptos

By RTTNews Staff Writer | Published: 11/26/2019 9:51 AM ET

Online travel agency Booking.com entered into a deal with U.K.-based crypto-friendly travel booking platform Travala.com to enable payments in cryptocurriencies such as Bitcoin for its customers in addition to traditional payment methods.

Travala.com is offering over 2 million accommodation listings globally to bring cryptocurrency adoption to the masses. It has already integrated Booking.com's accommodation listings to its platform, which is now live in more than 230 countries and 90,000 destinations worldwide.

Travala.com is already providing the option to make payments on their site using more than 20 cryptocurrencies, including their own native AVA token, and also a stablecoin. They also accept payments in Fiat and through Paypal.

The cryptocurrencies currently acceptable for payments include Travala (AVA), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Stellar Lumens (XLM), Binance (BNB), EOS (EOS), NEO and stablecoin TrueUSD (TUSD).

Travala.com offers users a consumer-based application of blockchain technology to provide a better-optimized booking platform and an equitable pricing model for consumers and hotel partners alike. Travala utilizes the NEO Blockchain.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Brave Browser Testing a New BAT Tipping Feature for Twitter Users

Brave Browser Testing a New BAT Tipping Feature for Twitter Users

Jose Antonio Lanz      May 24, 2019

The world of cryptocurrencies and blockchain technologies continues to grow despite the skepticism of some experts, demonstrating that every day more use cases involving these technologies appear around the world. A few hours ago, Brave Software, the developer of the internationally famous Brave Browser announced that they are testing a new feature that will allow their users to send BAT tips via Twitter.

The announcement first appeared on Brave’s official Twitter, although they pointed out that at the moment it is only available in the Nightly Desktop version, which means that it is not yet completely stable and certain errors can be found.

To be able to use this option, users must register at publishers.brave.com, and link their twitter account to this platform. This means that in theory, at least in a first stage, this feature is oriented to reward content creators.

There are other options to tip users in the crypto-verse. The best known XRPTipBot. Thanks to this implementation any user with a Twitter account and an XRP Wallet can send and receive tokens with a simple command.

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BRAVE: SLOWLY BUT STEADILY ON ITS WAY TO START A REVOLUTION (BUT NOT EVERY AGREES WITH ITS METHODS)

Brave has gained worldwide popularity since the launch of its Browser. According to some statistics it has managed to position itself in the market as a strong competitor of Google Chrome even beating it in the number of downloads.

Likewise, Basic Attention Token, the cryptocurrency that powers the whole ecosystem, has had a strong hype around it, mainly after it was one of the first altcoins listed on Coinbase Pro.

The use of a token to revolutionize the content distribution and advertising industry is very attractive, however, some believe that it is unnecessary to develop a native token.

For this reason (along with other more philosophical ones) the GAB team is developing a browser using Brave’s code as the base for a fork. The new Dissenter Browser seeks among other things to replace the use of BAT by a BTC wallet capable of sending tokens on the Lightning Network.

The browser has not been as popular as Brave, but it is important to point out that it has not had the same media campaign nor the same volume of investment as its “big brother”.

Original article written by Jose Antonio Lanz and posted on the CryptoCrimson.com site.

Article posted on Markethive by Jeffrey Sloe

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