CFTC Chair Notes Crypto Cases in Record Year of Enforcement Actions

Christopher Giancarlo, the chairman of U.S. Commodity Futures Trading Commission (СFTC), said in an Oct. 2 speech that enforcement actions and fines increased significantly in the last fiscal year. Giancarlo presented at the Economic Club of Minnesota, stating that the enforcement of the recent fiscal year, which ended September 30, was “among the most vigorous in the history of the CFTC.” The CFTC filed 83 enforcement actions in the last fiscal year, representing a 25 percent increase from the last three years of the previous administration. The CFTC levied as…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, October 5

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. 2017 was about large range days and superlative returns in cryptocurrencies. 2018 is about a crushing bear market and a sharp drop in volatility. Bitcoin’s volatility is at year-to-date lows and most altcoins have followed suit. While flat markets are despised by speculative traders,…

Crypto Means Finance Middlemen ‘Face The Chop’

Financial intermediaries will be “facing the chop” thanks to Bitcoin and cryptocurrency, Malta’s finance minister told Cointelegraph in an interview Friday, October 5. Speaking in a private interview during the Malta Blockchain Conference: Delta Summit 2018, Edward Scicluna said that the advent of cryptocurrency that is usable by the mass populace was making the middlemen of finance go the way of traditional photo developers. “This is a disruptive technology,” he said when asked whether he sees crypto as a future payment method, continuing: “I can see this, just like in…

Corrupt Governance? What We Know About Recent EOS Scandal

This week, EOS found itself in hot water after allegations arose that a major part of its blockchain governnance, led by Chinese crypto exchange Hubobi may be involved in a corruption scheme. EOS’ parent company and Huobi have issued public statements since these allegations, but refrained from admitting or denying the charges. What is EOS? EOS.io is a blockchain-powered smart contracts protocol for the development, hosting, and execution of decentralized applications (dApps). It aims to operate in a way similar to the web-based applications and retains similar structural principles, which…

14 Italian Banks Complete Interbank Transactions on R3 Blockchain Corda

A consortium of Italian banks has successfully completed the initial trial of a blockchain-based system aimed at enhancing interbank operations. Known as the interbank Spunta Project, the 14 banks chose the Corda distributed ledger technology platform developed by the R3 blockchain consortium. The application was developed by NTT Data Italia while decentralized storage platform Sia provided the node infrastructure. During the trial phase which lasted for a period of 10 months, around 1.2 million transactions were processed, according to Ansa. Speed, Efficiency and Transparency Some of the improvements expected to…

Bitcoin Hovers Near 6,600, While Most Top Coins See Little Price Volatility

Friday, Oct. 5: cryptocurrencies are seeing little volatility over the past 24 hours to press time, with the majority of losses and gains of top coins capped within a 1 percent range on the day, as data from Coin360 shows. Market visualization by Coin360 Ripple (XRP) is the only outlier in the top ten coins, down a little over 3 percent on the day to trade at $0.52. The asset – which in September briefly outflanked Ethereum to seal the second spot ranking on CoinMarketCap listings – has had a…

Bitcoin Price Intraday Analysis: BTC/USD Stability Continues

Bitcoin on Friday surged a minor 0.21 percent against the US Dollar, intensifying the bias conflict it has been in since yesterday. The BTC/USD opened the day while valued at 6590-fiat and is currently fluctuating around 6593-fiat. Between then and now, the pair, however, witnessed a robust intrarange action, in which the value retested 6500-fiat as its psychological support, and found its uptrend capped by an equally strong resistance level near 6627-fiat. The sideways consolidation action offers adequate opportunities to traders to enter and exit markets on decent profits. BTC/USD Technical Analysis…

Time Magazine Includes Blockchain Startup in Its 50 ‘Genius Companies 2018’ List

American journal Time Magazine has included a blockchain startup in its recent top 50 “Genius Companies 2018″ list, published Thursday, October 4. In putting together the list, the magazine asked their editors and correspondents to name “businesses that are inventing the future.” Influence and success were among the criteria for the choice. Bitland, a blockchain startup based in Ghana, joined the list along with giants like Apple, Netflix, SpaceX and Domino’s. As Cointelegraph reported earlier, Bitland, founded by Ghana native Narigamba Mwinsuubo, uses blockchain to register local land. Bitland cooperates…

Stablecoin Tether Incurs Scam Accusations following USDT Drop

Tether incurred severe criticism after its supposed stablecoin USDT lost its value against the U.S. Dollar. On Tuesday, the USDT/USD dropped towards 0.95 across several cryptocurrency exchanges, stirring panic among investors who were arbitraging between the crypto-assets. On the same day, a new report surfaced about Noble Bank, Tether’s banking partner, revealing its poor financial health. The Puerto Rick bank served as a fiat gateway to it, as well as BitFinex, a well-known Bitcoin exchange. But when the bank announced that it was open for sale, both Tether and BitFinex decided…