Thursday, October 1Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

DeFi Has a Front-Running Problem. Sparkpool’s Potential Fix Is Launching This Month

DeFi Has a Front-Running Problem. Sparkpool’s Potential Fix Is Launching This Month

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. DeFi Has a Front-Running Problem. Sparkpool’s Potential Fix Is Launching This Month Ethereum mining pool Sparkpool will launch its new mining network, Taichi Network, complete with a “private transaction” feature in October, CoinDesk confirmed with Sparkpool co-founder Xin Xu. The network “will gradually go online” this month in what could be one solution to decentralized finance’s (DeFi) long-standing problem with front running, the practice of trading based on information about future trades contained in a blockchain’s transaction queue in cryptocurrency markets. Taichi’s features are “not designed for selfish usage” but instead for the “public good” of the Ethereum ecosystem, Xu told CoinDesk in an email.  “We will offe
It looks like the SEC isn’t done with trading app Abra just yet

It looks like the SEC isn’t done with trading app Abra just yet

BITCOIN
Please share if you find this article interesting. It looks like the SEC isn't done with trading app Abra just yet Back in July, the Securities and Exchange Commission alongside the Commodity Futures Trading Commission fined investment app Abra for providing trading on synthetic assets.  At the time, that looked like the end of the matter. However, in response to Cointelegraph’s Freedom of Information Act (FOIA) request for details in the Abra case, the SEC cited FOIA exemption 5 U.S.C. 552(b)(7)(A) — an exemption that only applies to ongoing investigations. The exemption applies to situations where releasing information could “reasonably be expected to interfere with enforcement proceedings.” The SEC’s response does not provide details into the ongoing investigation, and was car
Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades

Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades

BITCOIN
Please share if you find this article interesting. Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades Shenzhen’s stock exchange, one of the biggest exchanges in the Asia-Pacific region, announced that they have co-launched a blockchain solution for trading with unlisted private-sector companies. This new platform was created as part of the Beijing Regional Trading Center. The report also indicated that the platform will be co-piloted with the Beijing Fourth Board Market, or BFBM — the city’s regional equity market. Both groups expect to “reduce the cost of information asymmetry, standardize corporate equity management, and better play the function of market equity financing” by integrating blockchain technology. Ge Yimiao, inspector of the Information Cent
3 reasons why the CFTC action against BitMEX will not crash Bitcoin price

3 reasons why the CFTC action against BitMEX will not crash Bitcoin price

BITCOIN
Please share if you find this article interesting. 3 reasons why the CFTC action against BitMEX will not crash Bitcoin price Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred as authorities announced the arrest of Samuel Reed, one of the co-founders of BitMEX. BitMEX has been the most dominant Bitcoin futures exchange for a long time, at least until March 2020 when the massive $1 billion Black Thursday liquidation pulled the price below $3,750. In recent months, new competitors like Binance Futures and ByBit have significantly increased their market share. Although the indu
Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls

Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls

BITCOIN
Please share if you find this article interesting. Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that regular users are returning to Ethereum in response to lower transaction fees. Several influential Ethereum cohorts — including miners and some of Ethereum’s largest non-exchange addresses — have been showing signs of ongoing accumulation and increased confidence in the coin’s long-term potential. After a period of redistribution and short-term selloffs by Ethereum’s block creators throughout August, the combined balance of Ethereum mining pools is once again on the rise, growing by 50,000 ETH (~$18,200,000 at the time of writing) over the last 30 d

Penn State set to host its own node for an enterprise blockchain

BITCOIN
Please share if you find this article interesting. Penn State set to host its own node for an enterprise blockchain Pennsylvania State University, a U.S. university touting more than 40,000 students, has agreed to operate as a signing node for GoChain's proof-of-reputation, or PoR, blockchain.  Constructed as a fork of the Ethereum blockchain's code, GoChain is secured by selected entities that run their own nodes, Marie Gonzalez, GoChain's senior vice president of marketing, told Cointelegraph. GoChain's blockchain uses a consensus mechanism called PoR, which calls on a set number of approved signing nodes to help run the network. The blockchain aims to eventually function with 50 of these nodes. "We set the bar high so it'll take time to get to 50," Gonzalez said. Some of its c
Bittrex Global gets cleared to run crypto exchange from Bermuda

Bittrex Global gets cleared to run crypto exchange from Bermuda

BITCOIN
Please share if you find this article interesting. Bittrex Global gets cleared to run crypto exchange from Bermuda Crypto exchange Bittrex Global received the green light from Bermuda’s financial watchdog to run its operations under the supervision of local authorities. According to the official announcement, the company got a full “Class F Digital Assets Business Act” license from the Bermuda Monetary Authority, or BMA, which will allow them to offer crypto services such as futures, subject to further approval by the watchdog. Bermuda's positive regulatory stance towards crypto comes within the context of the Digital Assets Business Act approved in 2018. This established the first legal framework for crypto companies who want to run their businesses from the island. It included
The avaricious misanthropy of Brian Armstrong

The avaricious misanthropy of Brian Armstrong

BITCOIN
Please share if you find this article interesting. The avaricious misanthropy of Brian Armstrong You can tell from Brian Armstrong’s opening words that he’s a numbers guy. “There have been a lot of difficult events in the world this year,” understated the Coinbase CEO in announcing that forthwith, the largest cryptocurrency exchange in the United States would do a better job of ignoring them. According to Armstrong’s recent blog post, Coinbase’s mission is to “create an open financial system for the world”. He left out the second half of the company’s mission statement, the part about being “the leading global brand for helping people convert digital currency into and out of their local currency,” which doesn’t convey the nobility of his purpose as clearly, but does specify the s
US Treasury warns crypto firms not to reimburse unknown ransomware victims

US Treasury warns crypto firms not to reimburse unknown ransomware victims

BITCOIN
Please share if you find this article interesting. US Treasury warns crypto firms not to reimburse unknown ransomware victims Two offices of the U.S. Department of the Treasury have issued advisories on ransomware payouts, which they say pose a threat to national security. The Financial Crimes Enforcement Network or FinCen reminded cryptocurrency processing companies of their duty to file suspicious activity reports when they have a reason to suspect that their services are being engaged for such payouts to sanctioned individuals: “Among these entities are digital forensics and incident response (DFIR) companies and cyber insurance companies (CICs). Some DFIR companies and CICs, as well as some MSBs that offer CVCs [convertible virtual currency], facilitate ransomware payments t
ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO | Regulation Bitcoin News

ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO | Regulation Bitcoin News

BITCOIN
Please share if you find this article interesting. ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO | Regulation Bitcoin News A US court has ruled in favour of the US SEC after the regulator’s filing of a motion seeking summary judgment against Kik for violating the country securities laws. Kik, which raised $100 million from 2017 ICO, had filed its own motion of summary judgment but the court refused to grant this. In his judgment, US District Court Judge Alvin Hellerstein agrees with the US SEC’s contention saying “undisputed facts show that Kik offered and sold securities without a registration statement or exemption from registration, in violation of Section 5.” In a suit filed on June 4 2019, the SEC sought the court’s