Trading Opens on Huobi’s New US-Based ‘Strategic Partner’ HBUS

Huobi crypto exchange has opened trading on its newly created U.S.-based “strategic partner” HBUS, according to a press release shared with Cointelegraph today, July 10. Huobi’s new cryptocurrency marketplace comes via a San Francisco-based partner company called HBUS, whose creation was first announced in early June. As of 10 a.m. (Pacific Time) today, HBUS is live for trading, supporting 22 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Tether (USDT), and others. The new platform also provides traders with an overview of market data…

‘We Must Remain Vigilant’ and Stop Rogue ICOs

The People’s Bank of China (PBoC) doubled down on its rhetoric regarding ICOs July 9, warning those who attempt to serve Chinese residents that it would “crush” their operations. In a circular and subsequent report in local media outlet Yicai, the Chinese central bank’s vice governor Pan Gongsheng strongly reiterated the ongoing ban on ICOs and the need to uphold regulatory mandates. “We must remain vigilant,” he said during a meeting of the bank’s Internet Finance Rectification Working Group on Monday. Given “the emergence of some new Internet financial products…

Malta to Host ‘World’s First ICCO’ as Palladium, Bittrex Build New Crypto Exchange

Malta-based company Palladium will launch the world’s first so-called initial convertible coin offering (ICCO) with two partners including Bittrex, a press release announced July 10. Palladium, which wants to build a regulated cryptocurrency exchange in Malta, will seek to distribute $150 million in tokens in the ICCO, scheduled to begin July 25. The exchange, which will operate under full regulation of Malta’s increasingly crypto-friendly jurisdiction, will be built using around 15 percent of accumulated funds. The remainder, Palladium says, will be used in the “acquisition of a controlling interest in…

Another MyEtherWallet Hack | Twice in Three Months

It’s only been four months since the last MyEtherWallet hack, but the crypto wallet platform is at the center of yet another security breach. This time, however, the breach involves the Hola VPN. As a result, if you use Hola’s Chrome extension, MyEtherWallet has warned that you should move your funds to a new account.  MyEtherWallet Hack: What We Know Yesterday, hackers compromised the Hola VPN service for roughly five hours. In that time, the crypto wallets of Google Chrome users may have been compromised. Why? Because they had the…

Payment Service CoinGate Launches Bitcoin Lightning Network Pilot for 100 Merchants

Cryptocurrency payment gateway CoinGate is launching a pilot program for 100 merchants to test transactions on a Bitcoin Lightning Network (LN) variant of their service, according to news shared with Cointelegraph today, July 10 According to CoinGate’s blog post, the merchants taking part in the LN trial include esports betting websites, online stores with crypto merchandise, servers and hosting services, and adult entertainment websites. The post notes that Lightning Network payments “will be” available starting on July 1. The Lightning Network is a second layer solution to the problems with…

Crypto Markets Take Deep Plunge, Market Cap Back to Monthly Lows

Tuesday, July 10: crypto markets have taken a deep plunge today, after a week of relatively stable growth. All but one of the top 20 cryptocurrencies by market cap are in the red, with total market capitalization going back to its monthly low levels. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,417 point at press time. The top cryptocurrency is down almost 6 percent over the past 24 hours and 2.9 percent over the past week, even after pushing close to the $7,000 price point July 8.…

NZ Exchange Cryptopia Starts Planned Maintenance Early, Users Report Withdrawal Issues

New Zealand digital assets exchange Cryptopia raised concern this week among users after bringing its planned maintenance window forwards “due to unforeseen circumstances.” The announcement was made on the platform’s Twitter account yesterday, July 9. The emergency outage, instigated ahead of schedule, raised yet further questions when it took rather longer than the expected “90 minutes,” which Cryptopia said was because of “unexpected issues” that required further investigation. Although Cryptopia says the outage is now over, several users have tweeted their complaints about withdrawal issues, reporting that their tickets are…

We’re Moving Into Phase Two of ETH Blockchain ‘This Year’

Ethereum’s Joseph Lubin said that with the fundamental “layer one” in the Ethereum ecosystem now established, 2018 will see “layer two” systems ramify and mature. Lubin’s comment came from his speech at the Rise conference in Hong Kong Tuesday, July 10. During a panel discussion with Village Global’s Erik Torenberg and Arbor Ventures’ Melissa Guzy, the Ethereum Foundation’s co-founder Lubin said that we are now moving into “phase two” of blockchain systems, “where we will see real scalability”: ‘We’re moving into a space where Ethereum can serve as the layer…

$22 Billion Wiped Out of Crypto Market in 24 Hours as Bitcoin Drops to $6,400

The valuation of the crypto market has dropped by $20 billion over the past 24 hours, as bitcoin dropped to $6,400. Since early morning, the crypto market recorded a steep fall from $274 billion to $252 billion, demonstrating a 7 percent decline in value. The drop of bitcoin from $6,700 to $6,400 caused other major digital assets and small tokens to experience intensified movements on the downside. Bitcoin 5% Loss, Ether 10% Drop While bitcoin lost 5 percent of its value, the price of ether, the native cryptocurrency of the…

R3 Consortium Releases New ‘Version’ of Its Corda Platform for Businesses

Blockchain technology company R3 announced July 10 that it had released a “version” of its Corda blockchain platform aimed specifically at businesses. R3 is a consortium of over 200 companies that research and develop blockchain applications for the industries of finance and commerce. Corda Enterprise, ostensibly “optimised to meet the demands of modern day businesses,” includes a “Blockchain Application Firewall” to allow the platform to run within corporate data centers and still communicate with Corda’s nodes. Applications available on the regular Corda are now also functional on Corda Enterprise, R3…