Cryptocurrency News

Blockchain technology will back the insurance industry again, as the American Association of Insurance Services (AAIS) is piloting a platform built on IBM (NYSE:IBM) blockchain that is set to automate the regulatory reporting of insurance data in the US.

The Chinese city of Shenzhen is introducing a new ‘fapiao,’ a legally accepted receipt used for tax purposes. The new fapiao unveiled by the municipality is in digital form, or more specifically a blockchain receipt, reports EEO.

CatalX will bring a wide range of cryptocurrency trading pairs to the Canadian market, following its partnership with Bittrex. The recently announced collaboration is slated to provide more than 200 asset pairs. However, some of the key details that seasoned traders may be looking for have not yet been provided.

China-based cryptocurrency mining equipment maker Bitmain might initiate an initial public offering (IPO) in Hong Kong as early as this September, sources familiar with the matter told Bloomberg. The largest crypto mining chips manufacturer is targeting $3 billion, the sources said. Bitmain, which is led by co-founder Jihan Wu, intends to file a listing application with the Hong Kong stock exchange. The company has recently completed a funding round, during which its total valuation was estimated at around $15 billion.

Crypto-oriented asset manager Bitwise Asset Management, which created the world’s first crypto index fund, announced on Wednesday the launch of three more indexes that would track mid-cap, small-cap, and total-market segments of the cryptocurrency space. The new indexes are introduced via its subsidiary Bitwise Index Services. The company is also renaming its HOLD 10 Index.

Reality Shares, the owner of one of the few blockchain ETFs in the US, is considering to launch a $100 million cryptocurrency hedge fund, Business Insider Netherlands reported on Tuesday.

Michael Terpin, a US entrepreneur and crypto trader, filed on Wednesday a $224 million lawsuit against telecoms giant AT&T (NYSE:T), claiming that the company was engaged in fraud and negligence when tokens were stolen from Terpin’s personal account, Reuters reported. The investor, who filed the lawsuit with the US District Court in Los Angeles (LA), said in the document that three million tokens were stolen on January 7 this year via a “digital identity theft” of his mobile phone account, which is served by AT&T.

Altcoins have shown they are much more speculative and volatile compared to Bitcoin - but the latest crash was the most panic-inducing during the protracted bear market. However, a few distinct groups of altcoins have formed, based on losses since their all-time high.

The multi-coin wallet Edge has released a new version, 1.3.0., which enables Litecoin (LTC) buying with credit and debit cards and expands cryptocurrency offerings with four new coins, Bitcoin Gold (BTG), Tether (USDT), Digibyte (DGB), and Vertcoin (VTC), Edge said on Tuesday.

Ethereum fell bellow the $293.84 level on Wednesday. Ethereum was trading at 293.84 by 11:52 (15:52 GMT) on the Investing.com Index, down 13.57% on the day. It was the largest one-day percentage loss since April 12.

Cryptocurrencies do not qualify as a legal tender, electronic cash, financial instrument or cash equivalent under the current Hungarian legislation, according to a statement of the country’s Finance Ministry quoted by local media.

Squire Mining, a minerals mining company traded on the Canadian Securities Exchange said it is moving from physical to cryptocurrency mining. The company has finalized a non-brokered private placement equity financing of C$ 25.5 million, which Squire Mining will use to fund its business model change.

Ethereum is the most common crypto asset for scammers, shows the latest research by Kaspersky Labs. Phishing also continued, masquerading as popular wallets or websites. The already infamous Ethereum giveaways keep spreading on social media, affecting famous Twitter handles, most lately copying the account of Elon Musk.

Playboy Enterprises, the parent company of the legendary adult magazine and websites and other entertainment mediums, is suing Global Blockchain Technologies for breach of contract.

Venezuela’s National Constituent Assembly is reportedly drafting constitutional amendments aimed at the creation of a central bank for cryptocurrencies.

China’s state-owned Aerospace Science and Industry Corporation Ltd. (CASIC) is looking to blockchain technology to improve its electronic invoice system by making it more efficient and easy to use, the official People’s Daily, reported.

Coinbase CEO Brian Armstrong, one of the best-known names in the cryptocurrency space, is not concerned about the decision of the US Securities and Exchanges Commission (SEC) to postpone its ruling on a proposed Bitcoin exchange-traded fund (ETF). This was one of the topics Armstrong discussed in an extensive interview with Bloomberg, touching also on initial coin offerings (ICOs), Bitcoin’s price swings, altcoins, and regulatory issues. The hottest current topics

Line Corporation, the parent company of one of the most popular mobile applications in Asia, has established a $10 million fund to focus on investments in cryptocurrency startups, the company said on Wednesday.

By Gertrude Chavez-Dreyfuss

After documents revealed that Bitmain had stashed away around $550 million in Bitcoin Cash (BCH), possibly purchasing it after the network was created, the world went into detective mode, attempting to decipher exactly why a multi-billion-dollar company would have such an interest in the coin.

Tron (TRX), one of the largest cryptocurrencies, leaped more than 13% on Wednesday as Bitbox, the new exchange of Asian messenger giant Line Corporation, announced the start of trading in the coin.

The US Securities and Exchange Commission (SEC) announced on Tuesday it had secured prohibitions against the founder of Tomahawk Exploration — a company which attempted to raise money issuing a Tomahawkcoin (TOM) in an allegedly fraudulent initial coin offering (ICO).

The Tether (USDT) asset finally stemmed the market slide yesterday, as a total of 90 million USDT hit the markets. There was no new printing, but only a movement of funds from the treasury. In an earlier transaction on Tuesday, Tether sent out 50 million tokens, followed by another tranche of 40 million tokens a few hours later.